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Since you are knowledgeable about the tax bill, which I have not had time to read or such, perhaps you can answer my prior question:
Does this tax reform bill keep Mr. Trump's promise concerning hedge fund managers?
Point 1 - Read it if you have questions.
Point 2 - Read point one.
Now if you are wishing to defend "Trillions to the Rich", then I encourage you to do so without asking fallacious question. So far, this hasn't been proved even by the OP who made the claim in the first place.
Middle class is a range of numbers. 215k is not rich. It's....upper class.
You have poverty level.
You have middle class.
You have upper class.
Then....you have...rich, wealthy, etc.
You don't jump from middle class to rich, while skipping upper class.
And it's not just me saying this. Look it up. There's plenty of data out there all saying the same thing. Again, americans making a household combined of over 250k represents LESS than 4% of all americans. That is not "middle" class. That's upper class.
If you believe you need over 150k to see yourself as being in the "lower" end of middle class, then you're living in an area that really is not.....middle class. If over 10k a month take home pay is something you consider to be "not enough", then you're not middle class. You can live in a million dollar home with that kind of cash and still have plenty left over.
the point is the liberal politicians say tax the rich, then say rich is 200k+
even back when bill Clinton was in office his admin described middleclass as 60-200k
Saying it's a "forced savings plan" is just spinning what it is. That's like saying our federal taxes collected are not really a tax...but rather a "forced military fund".
It's a tax. Period.
Your essentially paying for an insurance for your older years. Then again there are people who don't work and still get the benefit so you're paying for them too.
Saying it's a "forced savings plan" is just spinning what it is. That's like saying our federal taxes collected are not really a tax...but rather a "forced military fund".
It's a tax. Period.
actually its an insurance
Social insurance, as conceived by President Roosevelt, would address the permanent problem of economic security for the elderly by creating a work-related, contributory system in which workers would provide for their own future economic security through payroll deductions paid while employed
The Social Security Act was signed into law by President Roosevelt on August 14, 1935. In addition to several provisions for general welfare, the new Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement
the point is the liberal politicians say tax the rich, then say rich is 200k+
even back when bill Clinton was in office his admin described middleclass as 60-200k
LOL, yep I remember when Obama claimed $200k was rich. The same talking points as Clinton who was president 1993 to 2001. Obviously Obama didn't account for inflation. Even so, high income does not mean your rich so it's all a lie.
Your argument, taking a logical course, would result in nearly all Americans being "upper class" because, from the standpoint of the world, less than 10% lives on $50+ daily. So you think nearly all Americans are "upper class"?
You're now bringing in other parts of the world? That's a nonsensical approach. But if you want to go there, yes, compared to other countries and how most people live throughout the world....our middle class would indeed be considered upper class.
For example, for the most part, even our poor are living in apartments, get fed daily and have healthcare. For many in other parts of the world truly living in poverty, YES, they would balk at the idea that our poor consider themselves....poor.
Middle class is defined as just that, those earning in the mid range, within that state. You can't drill it down to wealthy neighboorhoods and then look at who earns in the middle in those area...and then call that middle class.
By no stretch of the imagination, is 150k considered lower end of middle class in america. If you're struggling to make ends meet with over 10k take home a month, then you're NOT living in a middle class neighborhood. 10k take home a month can get you a million dollar home, and still leave you with plenty of cash left over.
If you consider homes over a million dollars to be "middle class" homes, then you have a twisted concept of what "middle" means.
they aren't "doubling deductions" geezus. For 2017 the standard deduction is set at $12,700 and they are increasing it to $24,000 (for married couple) but at the same time they are removing the $4050 personal exemption which you could claim previously even if you itemized.
2017 Tax deductions
married couple $12,700 + $8100 = $20,850.
married couple with 3 kids $12,700 + $20500 = $33,200
senior couple $12,700 + $8100 + $2100 = $22,900
Trump Tax Plan
married couple $24,000
married couple with 3 children $24,000
senior couple $24,000
Add into that the loss of deductions that are significant to many people like student loan interest and medical expenses and you are going to end up with a whole lot of people paying more so that corporations will get a big wet kiss as well as the billionaires who have been paying off politicians for decades in order to get rid of the estate tax.
We're retired and this will cost us roughly $2,000, thanks a lot GOP
Payback is a b*tch isn't it? My point is when one politician gets greedy taking more money from the people to funnel more money to govt those people he's taking from are going to fight back and they did.... President Trump. You believed Obama's lie and supported the money grab so you really should be thanking yourself.
When will you learn that every time govt claims they are going to raise taxes on the rich, the middle class end up in the middle of the bulls eye?
Now if you are wishing to defend "Trillions to the Rich", then I encourage you to do so without asking fallacious question. So far, this hasn't been proved even by the OP who made the claim in the first place.
What is fallacious about my question? I had said, earlier, that I agreed that many taking part in this discussion have little idea of what is actually in the tax reform bill, save for what the news report.
Reading some of your postings, I naturally assumed you have more detailed knowledge. I would hate to think that you are defending something you are ignorant about. I have not condemned, nor praised, this bill for that very reason: I know little about the details.
It is a good question about the hedge fund managers. If you have knowledge, please pass it on. If not, then let it pass, and perhaps someone else will be able to provide an answer.
Your essentially paying for an insurance for your older years. Then again there are people who don't work and still get the benefit so you're paying for them too.
But it's still a tax. it's a tax that funds that insurance.
The same way as taxes fund the military. Police force. Politicians. etc.
Using your logic, we don't pay any taxes at all. I don't pay an income tax, nor a tax on goods. I pay into a pool for salaries for teachers.
Different taxes pay for different things....it could be "insurance for your older years", it could be for salaries, it could be for our war machine, etc....but it's still a tax collected to pay for said things...including that "insurance for you older years".
You can spin it, but it's still a tax.
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