Playing around with this and Bernie wasn't kidding when he said he was raising taxes on everyone. I don't see how anyone is going to get away with raising taxes from $800 a year to $4,000 on a family making $35k. That is not going to fly. For example, a single mom making minimum wage would see her taxes go up $1,620!
I'm not sure I get it though. I skimmed the tax policy thing because I was surprised at the huge jump under Bernie for us.
It said that he'd cap regular income tax at 28% and then introduce surcharges after 200k or 250k for a couple. Then a 2.2% tax for health insurance and a 0.2% payroll tax (I think this one is for paid leave).
Anyway, since we don't make more than 200k, never mind 250k I don't see why it's giving me a 38% tax rate.
Fuck that noise. My taxes would go up by $3k under Bernie. Only $10 with Clinton. How is his plan 'increasing taxes on the rich' when it's going to rob the poor in the process?
I'd pay between $400-$550 less under Trump and Cruz but barf. No.
If Bernie takes $12k more from me but forgives my student loan debt, I'll end up better off...
For how many years, though?
Probably only a few if I stay at my firm (or a peer firm) and continue to move up.
Trust, I appreciate where Bernie's heart is, but I vehemently disagree with him wrt fiscal policy and the government's role in his programs. i also don't want to pay $12k more in taxes (or $20k more in federal taxes, using my estimated 2017 income).
FWIW, I wouldn't even mind paying an extra $2k in taxes if it means I was actually getting free or heavily subsidized health insurance and no longer had to worry about saving for my kids' college.
But I also don't believe for one second those things would happen anytime in the next 8 years.
Post by secretlyevil on Mar 25, 2016 10:00:06 GMT -5
In theory I really like the progressive flat tax plan but even on that Cruz and I disagree. He doesn't have a sliding scale based on income like I would like to see. Bernie would hurt the middle class even more. Yikes, not cool Bernie, not cool.
FWIW, I wouldn't even mind paying an extra $2k in taxes if it means I was actually getting free or heavily subsidized health insurance and no longer had to worry about saving for my kids' college.
But I also don't believe for one second those things would happen anytime in the next 8 years.
Yup. I'm not paying an extra $16k in taxes for a bunch of idealistic programs that won't happen, or will be implemented poorly and then dismantled altogether by the next administration.
The Bernie increases give me pause, but not as much so as the Trump decreases. Who the fuck is going to pay taxes?! Where do all these cuts come into play? My god.
The Bernie increases give me pause, but not as much so as the Trump decreases. Who the fuck is going to pay taxes?! Where do all these cuts come into play? My god.
I got a, "well if it's going to pay for my elderly neighbors healthcare..." I asked if she knew they didn't have healthcare. She had no idea. I get being idealistic, but c'mon now.
To be fair, I don't want to pay less than we are currently. I think we're at a good tax rate and I think we could handle an increase of a few more percentage points. We're at about a 23% effective tax rate. We could go up to 25% and that wouldn't strain us much at all. However, under Sander's plan, we'd be at 38%. That would definitely strain us quite a bit at this point in our lives.
The Bernie increases give me pause, but not as much so as the Trump decreases. Who the fuck is going to pay taxes?! Where do all these cuts come into play? My god.
I'm not sure I get it though. I skimmed the tax policy thing because I was surprised at the huge jump under Bernie for us.
It said that he'd cap regular income tax at 28% and then introduce surcharges after 200k or 250k for a couple. Then a 2.2% tax for health insurance and a 0.2% payroll tax (I think this one is for paid leave).
Anyway, since we don't make more than 200k, never mind 250k I don't see why it's giving me a 38% tax rate.
Yuuuge tax cuts, without explicit offsetting spending cuts.
Pay $7,390 less
(Tax rate: 22.4%)
CRUZ
For most, 10% flat rate on income tax and 16% value-added tax.
Pay $7,730 less
(Tax rate: 22.1%)
CLINTON
Taxes stay about the same.
Pay $160 more
(Tax rate: 27.3%)
SANDERS
Big tax increases, mostly on the rich, to pay for big programs.
Pay $18,500 more
(Tax rate: 39.2%)
Data from the Tax Policy Center
Alvin Chang / Vox
Mine was exactly the same. The Sanders increase would kill me. I'll pay more, but that increase would leave us seriously considering whether I should stay at home.