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re: Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
Posted on 3/28/17 at 9:46 am to Tigerdev
Posted on 3/28/17 at 9:46 am to Tigerdev
quote:
You have to make under 15k for single or 30k for middle class?
No the current standard deduction for a person filing by themselves is $6300. Trump wants to increase that to 15k. For a couple filing jointly the current deduction is $12600. Trump wants to up that to 30k. That means middle class tax payers save money by not having as much taxable income. You follow?
This post was edited on 3/28/17 at 9:51 am
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Posted on 3/28/17 at 9:46 am to Fat Bastard
And yes we do need government cuts and stop wasteful spending. Obama left usna big shite sammich and we all have to take a bite. We have tons of debt to deal with. How much military spending can we afford? Infrastructure? When the economy gets better trump may have to revisit the possibility of entitlement cuts. Get people working first.
Posted on 3/28/17 at 9:47 am to the808bass
Just sayin...For the last eight years you would think the deficit was all that mattered in terms of economic stats. Now all of a sudden a deficit neutral budget is perfectly acceptable.
Posted on 3/28/17 at 9:47 am to Tigerdev
quote:
the more affluent to shoulder that load
Why? Everyone should shoulder the load relative to their "status."
Posted on 3/28/17 at 9:49 am to Tigerdev
quote:
My point is that people like to exaggerate the extent that EVERYONE pays taxes in this country. The effective rate that people and especially the wealthy pay here is actually very low compared to many western countries.
The Federal effective rate of 25% is low? Lol.
Add in state, sales and other taxes and most wealthy pay well into the 30% range. If you like those rates, move to a country that confiscates a third of your earnings. It's ridiculous.
Posted on 3/28/17 at 9:49 am to Eurocat
Great article. No details on either plan. Fake news, and I mean this.
Posted on 3/28/17 at 9:49 am to Tigerdev
quote:
At my income bracket it is much better to itemize so I am not familiar with the details.
Middle class Americans generally do not have enough deductions to itemize therefore this benefits them.
Posted on 3/28/17 at 9:52 am to the808bass
quote:Relative to our expenses our revenue is too low. Absolutely correct.
The Federal effective rate of 25% is low? Lol.
Posted on 3/28/17 at 9:53 am to Tigerdev
quote:
Relative to our expenses our revenue is too low. Absolutely correct.
So instead of reducing our expenses our plan should be take more money from people that produce.
Posted on 3/28/17 at 9:53 am to redfishfan
Gotcha. Makes sense.
Posted on 3/28/17 at 9:55 am to Tigerdev
quote:
Relative to our expenses our revenue is too low. Absolutely correct.
So why dont we cut all the bullshite spending? I feel like thats a cure all!
ETA: Also lets tax companies that are in "US" (producing outside US) more so we can advocate things being American made which will also help the debt crisis
This post was edited on 3/28/17 at 9:59 am
Posted on 3/28/17 at 9:55 am to redfishfan
People say they want spending cut but they don't really when confronted with it. They like governmental programs.
Posted on 3/28/17 at 9:56 am to redfishfan
quote:The deficit between revenue and expenses is too high to address by singularly raising revenue or reducing spending. Both are required. This is where our two party system would work great if we weren't so polarized. Dems advocate for raising revenue to reasonable required levels while the Reps keep spending in check.
So instead of reducing our expenses our plan should be take more money from people that produce.
Instead, Dems often advocate to increase revenue while not reducing spending and Republicans like the reduce revenue and raise the military budget (one of the largest cost drivers)
Posted on 3/28/17 at 9:56 am to Eurocat
Cut everything. We need to get out of the debt crisis.
Posted on 3/28/17 at 9:57 am to Eurocat
quote:
They like governmental programs.
Some people like some programs. Everyone wants to keep the things they care about and cut the things they don't.
Posted on 3/28/17 at 9:57 am to LSU12223
Can't only do one. The deficit is too high. There is not enough "waste" to make up the deficit. In fact, strangling the federal budget often leads to the very inefficiencies in many agencies that conservatives complain about.
Posted on 3/28/17 at 10:00 am to Tigerdev
quote:
Can't only do one. The deficit is too high. There is not enough "waste" to make up the deficit. In fact, strangling the federal budget often leads to the very inefficiencies in many agencies that conservatives complain about.
There is plenty of waste, but lets also tax those US based companies who produce elsewhere more, so we advocate producing in the US while we get some extra revenue.
Posted on 3/28/17 at 10:01 am to Tigerdev
quote:
Instead, Dems often advocate to increase revenue while not reducing spending and Republicans like the reduce revenue and raise the military budget (one of the largest cost drivers)
It is possible to increase revenue without increasing taxes. Like rolling back awful regulations that cost companies millions. They could be hiring more people and building more buildings with that money. That would produce jobs and create more revenue.
Posted on 3/28/17 at 10:04 am to Tigerdev
quote:Last fiscal year we added over 1.4 Trillion to the debt.
Just sayin...For the last eight years you would think the deficit was all that mattered in terms of economic stats. Now all of a sudden a deficit neutral budget is perfectly acceptable.
2nd worst year in history. A lot of things start looking better than that.
Posted on 3/28/17 at 10:05 am to BamaAtl
You are an ignoramus who falls for blatant lies and propaganda
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