U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-27-2017, 01:38 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898

Advertisements

Quote:
Originally Posted by BajanYankee View Post
To Make It Great Again, don't we need to go back to 1950s tax rates when America experienced the greatest peacetime economic expansion ever witnessed?
Those are marginal tax rates, not EFFECTIVE tax rates. BIG difference. It's why the middle class is in the 15% tax bracket but only pays an average EFFECTIVE federal income tax rate of 7.5%.
Reply With Quote Quick reply to this message

 
Old 11-27-2017, 01:40 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898
Quote:
Originally Posted by FirebirdCamaro1220 View Post
Anyone who earns less than about $30k/year HAS to "live beyond their means" just to make it, maybe lower that to $20k in a rural area
No, they don't. There are MANY ways to reduce living expenses. One would have to live very frugally, but it CAN be done, and that's the lifestyle they've earned.
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:45 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898
Quote:
Originally Posted by BajanYankee View Post
Why do you support a Globalist Tax Cut that was designed in the deepest and darkest recesses of the D.C. Swamp?
Because I think we should tax regressively like European/Scandinavian countries do (the exact opposite of the US tax system). Read and learn (includes a link to the research:

How other developed countries tax and spend

Be sure to also look at the comparison chart and how to read it
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:48 PM
 
Location: Crooklyn, New York
27,626 posts, read 24,839,810 times
Reputation: 11185
Quote:
Originally Posted by InformedConsent View Post
Those are marginal tax rates, not EFFECTIVE tax rates. BIG difference. It's why the middle class is in the 15% tax bracket but only pays an average EFFECTIVE federal income tax rate of 7.5%.
Dude, those are apple-to-apples comparisons. If you make $500,000 per year, you're not taxed the same on every single dollar. You are taxed at different rates for each progressive income bracket with the top marginal tax rate today being 39.6%.

Quote:
The tax legislation passed at the start of 2013 permanently extended the George W. Bush-era tax cuts for most people but also added a top marginal tax rate of 39.6 percent for those at higher incomes ó $400,000 for single filers, $450,000 for married couples filing jointly and $425,000 for heads of household.
https://www.politico.com/story/2014/...rackets-102466

Do you even pay taxes?
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:51 PM
 
Location: Crooklyn, New York
27,626 posts, read 24,839,810 times
Reputation: 11185
Quote:
Originally Posted by InformedConsent View Post
Because I think we should tax regressively like European/Scandinavian countries do (the exact opposite of the US tax system). Read and learn (includes a link to the research:

How other developed countries tax and spend

Be sure to also look at the comparison chart and how to read it
Oh, here we go. As an America Firster, why would you want to compare these Great United States with so-called socialist hellholes?

Why'd I even ask that question? You are clearly a Globalist.
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:52 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898
Quote:
Originally Posted by BajanYankee View Post
Dude, those are apple-to-apples comparisons. If you make $500,000 per year, you're not taxed the same on every single dollar. You are taxed at different rates for each progressive income bracket with the top marginal tax rate today being 39.6%.
List the inflation-adjusted cutoff for the top marginal tax rate bracket per year, and list all of the tax deductions that have since been eliminated.

Given those are significantly different than what we have now, it is NOT anywhere near an apples-to-apples comparison.
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:55 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898
Quote:
Originally Posted by BajanYankee View Post
Oh, here we go. As an America Firster, why would you want to compare these Great United States with so-called socialist hellholes?
It's the tax-the-rich idiots who want European/Scandinavian-style social welfare programs, not me. If one wants them, they have to pay taxes like Europeans/Scandinavians do. Pretty simple concept.
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:55 PM
 
Location: Crooklyn, New York
27,626 posts, read 24,839,810 times
Reputation: 11185
Quote:
Originally Posted by InformedConsent View Post
List the inflation-adjusted cutoff for the top marginal tax rate bracket per year, and list all of the tax deductions that have since been eliminated.

Given those are significantly different than what we have now, it is NOT anywhere near an apples-to-apples comparison.
We can't even have a discussion until you're proven you understand some very basic tax and accounting vocabulary. Do you even know what a marginal tax rate is? Your last response makes me question whether you've ever filed a federal income tax return.
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:57 PM
 
Location: Crooklyn, New York
27,626 posts, read 24,839,810 times
Reputation: 11185
Quote:
Originally Posted by InformedConsent View Post
It's the tax-the-rich idiots who want European/Scandinavian-style social welfare programs, not me. If one wants them, they have to pay taxes like Europeans/Scandinavians do. Pretty simple concept.
Like Bannon?

Quote:
President Trumpís chief strategist Steve Bannon is pushing for a tax increase on the very wealthiest Americans, an administration source confirmed to Fox News.
Bannon urging tax hike on wealthiest Americans, source confirms | Fox News
Reply With Quote Quick reply to this message
 
Old 11-27-2017, 01:58 PM
 
62,563 posts, read 27,831,811 times
Reputation: 7898
Quote:
Originally Posted by BajanYankee View Post
We can't even have a discussion until you're proven you understand some very basic tax and accounting vocabulary. Do you even know what a marginal tax rate is?
I would say so. My spouse owns a CPA firm. 75 employees, or so. Everything I said applies:

List the inflation-adjusted cutoff for the top marginal tax rate bracket per year, and list all of the tax deductions that have since been eliminated.

Given those are significantly different than what we have now, you have NOT posted anywhere near an apples-to-apples comparison.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top