According To Bernie Sanders, All Small Business Owners Are Multi-Millionaires And Need To Pay 95% !!

[Rexx Taylor]

how about no income taxes for anyone for two years!!!!

 

[Toddsterpatriot]

Bernie's top income tax rate is 52% on income over $10 million.

Without looking, guess what Reagan's top income tax rate was.

Go ahead.

28%

Nope. 50 percent.

And that was AFTER he lowered them.

1988 Tax Reform had two rates, 15% and 28%.

 

[Soggy in NOLA]

Sanders's tax rates:

Cap regular income tax rates at 28 percent of taxable income.

Add 9 percent on income between $200,000 ($250,000 for couples) and $500,000.

Add 15 percent on income between $500,000 and $2 million

Add 20 percent on income between $2 million and $10 million

Add 24 percent on income above $10 million

That's an upper level rate of 96%...

No. That's an upper rate of 52 percent, numbnuts.

Income below $200,000 is taxed 28 percent. Income between $200K and $500K is taxed at 37%. And so forth. Income above $10 million is taxed at 52%.

Well, not the way you describe it, dick. Try articulating yourself a bit better.

 

[WildBillKelsoe]

Have you ever looked into what is considered a "small business " . Depending on the biz , you can literally have 1,500 employees and be defined as "small".

The United States government considers any company with less than 500 employees a small business, so you're wrong.

However, that's irrelevant. It's plumb insane and stupid to charge a business a 95% tax rate.

 

[Rexx Taylor]

at 19 trillion in debt,,,,its already pointless to tax anyone,,,may as well just keep printing money instead of stealing it for the middle class

 

[g5000]

AN ANALYSIS OF SENATOR BERNIE SANDERS’S TAX PROPOSALS - Tax Policy Center

TPC estimates the tax proposals would raise $15.3 trillion over the next decade. All income groups would pay some additional tax, but most would come from high-income households, particularly those with the very highest income.

The last time the maximum marginal income tax rate was approximately this high was during the Reagan administration. The Economic Recovery and Tax Act of 1981 reduced the top rate from 70 percent in 1981 to 50 percent in 1982. The marginal income tax rate remained at that level through 1986, when the Tax Reform Act of 1986 phased it down to 28 percent by 1988. The 50 percent tax rate in 1986, however, applied to taxable incomes over $175,250 for married couples ($88,270 for singles), the equivalent of approximately $380,000 in today’s dollars.

 

[Toddsterpatriot]

See for yourself: U.S. Federal Individual Income Tax Rates History, 1862-2013 (Nominal and Inflation-Adjusted Brackets)

Reagan taxed everything above $88,270 at 50%. That's $190,000 in today's money.

Under Bernie's plan, an income of $190,000 would be taxed at 28 percent!

1988
Nominal
Married Filing Jointly
Marginal Tax Brackets
Tax Rate Over But Not Over
15.0% $0 $29,750
28.0% $29,750 -

 

[jillian]

That was pretty much his explanation of why the rich need to be taxed around 90% and give the money to all of the lazy bums out there who don't want to work, and also give the money to every child that wants to go to college, right?
So does anyone here live in a town where every small/medium business owner is worth between 5 and 50 Million, owns 3/4 homes, a few yachts, a few lambrogini's, etc?
This is the world according to Bernie. He still cannot answer the question regarding how taxing business owner to death will not hurt the middle class and create millions of jobs !!!

he never said that, loony toon.

 

[WildBillKelsoe]

Bernie's top income tax rate is 52% on income over $10 million.

Without looking, guess what Reagan's top income tax rate was.

Go ahead.

28%

Nope. 50 percent.

And that was AFTER he lowered them.

The President doesn't set tax rates.

 

[Toddsterpatriot]

AN ANALYSIS OF SENATOR BERNIE SANDERS’S TAX PROPOSALS - Tax Policy Center

TPC estimates the tax proposals would raise $15.3 trillion over the next decade. All income groups would pay some additional tax, but most would come from high-income households, particularly those with the very highest income.

The last time the maximum marginal income tax rate was approximately this high was during the Reagan administration. The Economic Recovery and Tax Act of 1981 reduced the top rate from 70 percent in 1981 to 50 percent in 1982. The marginal income tax rate remained at that level through 1986, when the Tax Reform Act of 1986 phased it down to 28 percent by 1988. The 50 percent tax rate in 1986, however, applied to taxable incomes over $175,250 for married couples ($88,270 for singles), the equivalent of approximately $380,000 in today’s dollars.

Look at that, even an old dog can learn a new trick.

 

[g5000]

Have you ever looked into what is considered a "small business " . Depending on the biz , you can literally have 1,500 employees and be defined as "small".

The United States government considers any company with less than 500 employees a small business, so you're wrong.

No, he is correct and you are wrong. It all depends which business you are in. For instance, you are considered a small business if you have 1,500 employees and are in the Couriers and Express Delivery Services sector.

See for yourself: https://www.sba.gov/sites/default/files/files/Size_Standards_Table.pdf

However, that's irrelevant. It's plumb insane and stupid to charge a business a 95% tax rate.

Then it's a good thing Sanders isn't planning on taxing them that much.

 

[Mac1958]

The numbers in the OP are obviously exaggerated.

That said, while I like Bernie overall (for a politician), he has a terribly naive, almost childlike view of American business in a global economy.

I'd guess his views of business have changed little in 50 years.
.

 

[Rexx Taylor]

i wonder if Bernie is aware that every baby born since the dems screwed the middle class in 2009 was/is already one million in debt.....but then again,,,dems dont care, they already stole our money and wont need to worry about retirement

 

[PredFan]

 

[PredFan]

Bernie Sanders represents a failure of our educational system.

 

[g5000]

See for yourself: U.S. Federal Individual Income Tax Rates History, 1862-2013 (Nominal and Inflation-Adjusted Brackets)

Reagan taxed everything above $88,270 at 50%. That's $190,000 in today's money.

Under Bernie's plan, an income of $190,000 would be taxed at 28 percent!

1988
Nominal
Married Filing Jointly
Marginal Tax Brackets
Tax Rate Over But Not Over
15.0% $0 $29,750
28.0% $29,750 -

His first and second tax rate reductions maxed out at 50 percent. And the economy boomed.

 

[g5000]

We could actually lower tax rates if we just banned tax expenditures.

That's how Reagan did it. Unfortunately, he was not able to ban all of them, but he made a great start. All of which has been undone since then, and made even worse.

 

[Toddsterpatriot]

AN ANALYSIS OF SENATOR BERNIE SANDERS’S TAX PROPOSALS - Tax Policy Center

TPC estimates the tax proposals would raise $15.3 trillion over the next decade. All income groups would pay some additional tax, but most would come from high-income households, particularly those with the very highest income.

The last time the maximum marginal income tax rate was approximately this high was during the Reagan administration. The Economic Recovery and Tax Act of 1981 reduced the top rate from 70 percent in 1981 to 50 percent in 1982. The marginal income tax rate remained at that level through 1986, when the Tax Reform Act of 1986 phased it down to 28 percent by 1988. The 50 percent tax rate in 1986, however, applied to taxable incomes over $175,250 for married couples ($88,270 for singles), the equivalent of approximately $380,000 in today’s dollars.

Payroll Taxes
• Enact a new 6.2 percent payroll tax paid by employers on the same tax base as the current Medicare hospital insurance (HI) payroll tax. • Extend the Social Security payroll tax (combined employee and employer rate of 12.4 percent) to earnings over $250,000. • Enact a new 0.2 percent payroll tax paid by both employees and employers on the same tax base as the current Social Security payroll tax.

Extend the Social Security payroll tax (combined employee and employer rate of 12.4 percent) to earnings over $250,000.

Why the donut hole between $118,500 and $250,000?


Eliminate tax breaks for oil, gas, and coal companies.

Which ones? Depreciation? Depletion? Why?

Thanks for the link, that was pages and pages of big government stupidity.
No wonder why he had no steady job until he was 40. That boy is D-U-M dumb.

 

[g5000]

Bernie's top income tax rate is 52% on income over $10 million.

Without looking, guess what Reagan's top income tax rate was.

Go ahead.

28%

Nope. 50 percent.

And that was AFTER he lowered them.

The President doesn't set tax rates.

Oh, so I guess the whole country is mistaken when they say "the Bush tax cuts".

Don't be stupid.

 

[Toddsterpatriot]

See for yourself: U.S. Federal Individual Income Tax Rates History, 1862-2013 (Nominal and Inflation-Adjusted Brackets)

Reagan taxed everything above $88,270 at 50%. That's $190,000 in today's money.

Under Bernie's plan, an income of $190,000 would be taxed at 28 percent!

1988
Nominal
Married Filing Jointly
Marginal Tax Brackets
Tax Rate Over But Not Over
15.0% $0 $29,750
28.0% $29,750 -

His first and second tax rate reductions maxed out at 50 percent. And the economy boomed.

Yeah, your 50% claim was wrong. Glad you see that now.