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I've heard nothing but complaints from the left with respect to the GOP tax plan. What ideas are the Democrats bringing to the table? During the Cruz/Sanders debate on CNN a few weeks ago, Bernie mentioned something about how he'd like to see our taxes as high as Denmark's, which are apparently the highest in the civilized world. I never have really even seen Democrats attempt to lower taxes on the middle class.
In the medical practice, the #1 rule is "do no harm." The current tax laws are infinitely better than the current GOP tax plan. We don't need to lower taxes on the rich and analysis indicates that there are no economic benefits to the entire plan that cuts taxes on the rich, raises them on the middle class and doubles the debt.
If you want a better plan, add the Buffett Rule.
While you rail against Denmark's taxes, you neglect that Denmark has free health care and a wide safety net. Nobody in Denmark loses their home because they have medical bills. Citizens of Denmark are also very happy.
While you wrote: "I never have really even seen Democrats attempt to lower taxes on the middle class," Obama renewed tax cuts to the middle class but allowed the tax cuts on the rich to expire. You just weren't paying attention.
Considering the absurdity of The Donald's payoff to the Republican donors my plan makes sense.
I do not know what the Democrats are proposing, if anything, but here is mine.
Sum all income form all sources including criminal or previously "tax free". Deduct from the sum an amount equal to the 90th percentile. Tax the rest at rates sufficient to pay for operating the government.
The top 10% own most of the country and the corporations so they should pay for protecting those investments.
See, this is the problem with the Liberal mindset....
You think 25% of my income is "low"?
And that's before state and local taxes.
Before property taxes.
Before sales taxes......
Gasoline taxes.....
"luxury" taxes........
Taxes disguised as "Fees" ......ad nauseam.
By the time all is said and done the middle class probably pays half their income in some sort of tax.
You have to be doing pretty good to pay 25% of your income. Here are the projected tax brackets for 2018,for a single taxpayer claiming one exemption.
For a single taxpayer, you start with a tax free $5,000 exemption. The next $9,525 will be taxed at 10%., so you pay $952 in income tax on your first $14,525.
AGI between $9,526 and $38,700 will be taxed at 15%, so there's another $4,376. At that point your tax rate is 12.2%.
AGI between $38701 and $93,700 is taxes at 25%, so there's another $13,750. If you are making $98,700, your total tax bill is $19,078, which is 19.3% of your income.
AGI between $98,701 and $195,450 is taxed at 28%, so that's another $27,090 in taxes. At that point your total tax bill on $200,450 in income is $46,168, or 23% of your income.
So a single taxpayer has to be making over $200 grand a year to pay 25% of their income in taxes. Married taxpayers have to be making over $400k to reach that level.
Quit being such a weenie. You are rolling in dough. You can afford it.
I've heard nothing but complaints from the left with respect to the GOP tax plan. What ideas are the Democrats bringing to the table? During the Cruz/Sanders debate on CNN a few weeks ago, Bernie mentioned something about how he'd like to see our taxes as high as Denmark's, which are apparently the highest in the civilized world. I never have really even seen Democrats attempt to lower taxes on the middle class.
The Dems will lower them as soon as the Repubs do. Trust me on this one.
If anyone believes this bill lowers taxes for anyone excet the 1%, they haven't read the bill.
This proposed Tax Bill is a simple rip off by a few for a few Republican donors. The big mystery is why huge donations to politicians are not considered bribes. This proposed tax is the result of a set of huge bribes paying off.
You have to be doing pretty good to pay 25% of your income. Here are the projected tax brackets for 2018,for a single taxpayer claiming one exemption.
For a single taxpayer, you start with a tax free $5,000 exemption. The next $9,525 will be taxed at 10%., so you pay $952 in income tax on your first $14,525.
AGI between $9,526 and $38,700 will be taxed at 15%, so there's another $4,376. At that point your tax rate is 12.2%.
AGI between $38701 and $93,700 is taxes at 25%, so there's another $13,750. If you are making $98,700, your total tax bill is $19,078, which is 19.3% of your income.
AGI between $98,701 and $195,450 is taxed at 28%, so that's another $27,090 in taxes. At that point your total tax bill on $200,450 in income is $46,168, or 23% of your income.
So a single taxpayer has to be making over $200 grand a year to pay 25% of their income in taxes. Married taxpayers have to be making over $400k to reach that level.
Quit being such a weenie. You are rolling in dough. You can afford it.
How much I can afford to pay is:
1. Irrelevant..... it's MY MONEY....not the government's.
In the medical practice, the #1 rule is "do no harm." The current tax laws are infinitely better than the current GOP tax plan. We don't need to lower taxes on the rich and analysis indicates that there are no economic benefits to the entire plan that cuts taxes on the rich, raises them on the middle class and doubles the debt.
If you want a better plan, add the Buffett Rule.
While you rail against Denmark's taxes, you neglect that Denmark has free health care and a wide safety net. Nobody in Denmark loses their home because they have medical bills. Citizens of Denmark are also very happy.
While you wrote: "I never have really even seen Democrats attempt to lower taxes on the middle class," Obama renewed tax cuts to the middle class but allowed the tax cuts on the rich to expire. You just weren't paying attention.
You mean Obama extended the Bush tax cuts, so in effect he didn't raise or lower them on the middle class. Who's railing against Denmark? Stating facts is not railing. So you agree with Sanders, we should raise taxes on the middle class to the highest rates in the civilized world? Even left wing media outlets admit that the GOP plan lowers taxes for the overwhelming majority of Americans. I'm not sure how you can say it raises them on the middle class. Also, it only raises the debt $1.5 trillion, that is far from doubling it, and that figure doesn't include revenue from future economic growth.
1. Irrelevant..... it's MY MONEY....not the government's.
2. Not up to you to decide.
And no, I don't make 200k/year.
The country is full of freeloaders like you looking to enjoy the fruits of other people's labor. It may come as a surprise, but citizenship comes with responsibilities. The only way you can avoid those responsibilities is to go live under a bridge somewhere and become a full time bum.
I don't set the tax rates, but I have enjoyed continual income tax cuts over the last 35 years. Like you, there are a lot of Americans who have no idea how much they pay in taxes because their math skills are limited to counting on their fingers. If you don't know what a percent is, it's easy to get confused.
As for making $200k, that was ridicule. You were the one who claimed you were paying 25% of your income in income tax, and I was pretty sure you have no idea what percentage of your income goes to income tax. Even after spelling it out for you, I'm pretty sure you still don't know.
There are tax funded programs that will bring your math skills to the 6th grade level. At that point you may generate a coherent opinion.
In the last 35 years we have had the Reagan tax cuts, the Clinton tax cuts, and the Bush tax cuts. Obama left the cuts in place for the lower and middle class, but raised them on the rich, which they felt was rude. The rich gave orders to their Republican flunkies to lower taxes on the rich and raise them on the poor and middle class. The Republican flunkies loudly claim their plan is a cut for everyone, but it's not. The tax increases on the poor and middle class just don't happen until after the next presidential election, but everyone making between $10,000 and $100,000 will see their taxes go up.
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