SENATE BILL: 2011 Tax Code Bill (On the President's desk)

[Fmr President & Senator Polnut]

I'll vote against this.

The idea that anyone should work for the government more than everything/everyone else combined is unacceptable.

Um... can you translate?

[Fmr President & Senator Polnut]

I'll vote against this.

The idea that anyone should work for the government more than everything/everyone else combined is unacceptable.

Um... can you translate?

A 60% tax rate (the proposed rate for individuals making more than $2.5M per year) means that 60% of your income goes to the government. I refuse to vote for a rate higher than 50%.

EDIT: Also, see here.

NO, I didn't understand what you meant - it wasn't clear at all.

The 60% tax rate is what it is now, my plan as discussed is to reduce those 2 top brackets (but not yet)... but since I don't believe in the tax cut cure all - they will be slow drops, but drops, I don't like a 60% federal tax rate when you have regional income taxes as well... but given the current financial situation I don't think it's wise for such a large cut.

[Fmr President & Senator Polnut]

I couldn't sign a Bill that has that large a tax cut involved.

I don't support the upper bracket being that high, but equally don't support sucking all of that revenue out when the economy is just starting to get back on its feet... I guess it's because I don't believe in the 'job creator persecution' stuff.

[Fmr President & Senator Polnut]

Absolutely no way I'd agree to that structure.

[Fmr President & Senator Polnut]

AYE

Absolutely no way I'd agree to that structure.

My structure, or that of Jbrase?

Yours to me seems more of a long-term aspiration.

I don't agree with a double-income tax regime then a 50%+ tax rate ... so I support yours in theory, but it's MASSIVE loss in tax revenue in a short time, without a plan for what will have to be cut to make up the difference.

I could support a more phased version of your proposal, but I would NEVER support Jbrase's proposal - if I think your amendment has financial risks, his is a kamikaze mission.

[Fmr President & Senator Polnut]