The Progressive Income tax

Originally posted by KazetNagorra
Wipe away your tears, whodey. It will all be over soon.

Less than a year to go. 😏

Originally posted by RJHinds
Bill Gates comes from a Democrat family and continues to support Democrats with money. He donated to both Barack Obama and the GNC in 2012. 😏

In other words, just you THINKING about his money buys your support.

Originally posted by sonhouse
In other words, just you THINKING about his money buys your support.

I mispronounced that. It is DNC - Democratic National Committee. 😏

Originally posted by RJHinds
Do you think that is part of the reason Bernie Sanders wants to tax some rich people 90% or more? 😏

Bernie's proposal is for a top rate of 52% starting at $10 million a year:

The wealthy, meanwhile, would see their income tax rates raised and their deductions limited. Income above $250,000 would be taxed at rates starting at 37% and topping out at 52% for earnings above $10 million. Long-term capital gains and dividends would be taxed at income rates, instead of the current maximum of 23.8%.

http://www.cnn.com/2016/01/17/politics/bernie-sanders-medicare-plan/index.html?eref=rss_topstories

Sounds reasonable.

Originally posted by no1marauder
Bernie's proposal is for a top rate of 52% starting at $10 million a year:

The wealthy, meanwhile, would see their income tax rates raised and their deductions limited. Income above $250,000 would be taxed at rates starting at 37% and topping out at 52% for earnings above $10 million. Long-term capital gains and dividends would be taxed at income rate ...[text shortened]... 01/17/politics/bernie-sanders-medicare-plan/index.html?eref=rss_topstories

Sounds reasonable.

Sounds far too low.

Originally posted by KazetNagorra
Sounds far too low.

google paid 2.4% in taxes in 2010. imagine how much money the US would get just by making sure they pay that 52%. just from google.

microsoft also managed to avoid taxes through various loopholes. many others too.

donald trump brags about how wealthy he is yet he filed for bankruptcy with four of his companies, his debt erased.


clearing the loopholes and raising taxes on the rich to this reasonable 52% would bring a fukton of money. it would be a good first step and the poor rich people would still have some money left for groceries.

Originally posted by Zahlanzi
google paid 2.4% in taxes in 2010. imagine how much money the US would get just by making sure they pay that 52%. just from google.

microsoft also managed to avoid taxes through various loopholes. many others too.

donald trump brags about how wealthy he is yet he filed for bankruptcy with four of his companies, his debt erased.


clearing the ...[text shortened]... ld be a good first step and the poor rich people would still have some money left for groceries.

The Rich own both the Republicans and the Democrats, they are called the establishment.

Originally posted by no1marauder
Bernie's proposal is for a top rate of 52% starting at $10 million a year:

The wealthy, meanwhile, would see their income tax rates raised and their deductions limited. Income above $250,000 would be taxed at rates starting at 37% and topping out at 52% for earnings above $10 million. Long-term capital gains and dividends would be taxed at income rate ...[text shortened]... 01/17/politics/bernie-sanders-medicare-plan/index.html?eref=rss_topstories

Sounds reasonable.

Why top out at 52%? What is his reasoning for that? 😏