Opinion of Bernie's Income Tax Plan? (user search)
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  Opinion of Bernie's Income Tax Plan? (search mode)
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Author Topic: Opinion of Bernie's Income Tax Plan?  (Read 4517 times)
Sprouts Farmers Market ✘
Sprouts
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E: -4.90, S: 1.74

« on: April 02, 2016, 01:33:03 PM »

Rule #1 is that taxpayers (often conservatives complaining about it) don't understand just how much they get from the government because there are very basic things they can't live without that just seem free.
Rule #2 is that liberals don't understand just how much these people are already paying outside of federal income and payroll taxes. Local taxes are also astronomical, and I don't mean sales/excise. Local income taxes add a lot to the burden.

Both are needed to be said in this thread though I'm sure the smartest are aware. It's an absolutely terrible plan though and I do support reasonable tax hikes and unlike Torie, j don't believe in keeping the cap on the payroll tax.
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Sprouts Farmers Market ✘
Sprouts
Atlas Icon
*****
Posts: 14,766
Italy


Political Matrix
E: -4.90, S: 1.74

« Reply #1 on: April 02, 2016, 02:22:39 PM »

There's this weird misconception (especially amongst leftist) that a vast majority of rich people inherited their wealth and grew up in rich families.

That's far from the truth. 70% of billionaires didn't inherit anything and a majority of the Forbes 400 didn't come from rich families.

This discussion is pretty tangential to the "what marginal income tax rates are optimal" question, but this is... not even close to true:

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Fair enough, but tax increases on billionaires is far from what we're talking about.  If we're just talking about tax increases on those at that level, I'm OK with that.  What we were talking about is $10K+ increases in total tax bills for people just breaking the six figures.  That seems to be a different story entirely.

No we aren't talking about that, a website which is including an employer based tax (without taking into consideration employer based deduction in costs) is talking about that, but it is nowhhere near reality.

So I presume your employer would still give you the same amount of income with many, many more mandatory benefits? Makes sense! Guess we'll double the minimum wage too just to ensure it.
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