What's the reason the GOP gives for needing tax cuts for billionaires and corporations?

[Ray From Cleveland]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

THE GOP create policy that "sounds like it should work" but in reality doesn't work.

As long as their paid sponsors are taken care of, that's all that matters. Then they can throw some red meat to their base about muslims or Obama taking their guns to keep them nice and distracted while the fuck them over in their wallet.

That's pretty much it. The tax bills are A. To pass something so the Bannon primary challenges based on "the gop hasn't done anything" are muted, and B. Give the donors a gift.

And I'm ALL FOR removing tax expenditures that treat one group differently from another. But that ain't what the gop's doing.

The only groups being treated unfairly are the lower and middle classes.

How is lowering their taxes treating them unfair?

 

[Ray From Cleveland]

I answered your question. Tax rates should go back to what they were in the 50s and 60s, and most successful time. I pasted the information above.

Through, as I mentioned, what constitutes wealthy should be somewhat dependent on cost of living of the area.

This is a theory many of us on the right are aware of, and many on the left are not, or if they are, hate it. It's called action/ reaction

If we all decided to meet at a bar one night, and I reached out to shake your hand, it's likely you would return the gesture. This is positive action--positive reaction.

However if we met and I pushed you into the wall, it's likely you would push me into the wall right back. Negative action--negative reaction.

At most any time, an action is met with a similar reaction. If you try to take most all of the money from the wealthy, are you really expecting a positive reaction????

If the tax rate were 0%, the government would collect 0 dollars. If the tax rate were 100%, the government would still collect 0 dollars because who would be stupid enough to produce wealth?

 

[bendog]

I answered your question. Tax rates should go back to what they were in the 50s and 60s, and most successful time. I pasted the information above.

Through, as I mentioned, what constitutes wealthy should be somewhat dependent on cost of living of the area.

This is a theory many of us on the right are aware of, and many on the left are not, or if they are, hate it. It's called action/ reaction

If we all decided to meet at a bar one night, and I reached out to shake your hand, it's likely you would return the gesture. This is positive action--positive reaction.

However if we met and I pushed you into the wall, it's likely you would push me into the wall right back. Negative action--negative reaction.

At most any time, an action is met with a similar reaction. If you try to take most all of the money from the wealthy, are you really expecting a positive reaction????

If the tax rate were 0%, the government would collect 0 dollars. If the tax rate were 100%, the government would still collect 0 dollars because who would be stupid enough to produce wealth?

Yet, the gop attempted to define this bill as lowing the corp tax by ending tax breaks and letting the middle class keep more of their pay.

It's a pig on both fronts.

 

[Ray From Cleveland]

I answered your question. Tax rates should go back to what they were in the 50s and 60s, and most successful time. I pasted the information above.

Through, as I mentioned, what constitutes wealthy should be somewhat dependent on cost of living of the area.

This is a theory many of us on the right are aware of, and many on the left are not, or if they are, hate it. It's called action/ reaction

If we all decided to meet at a bar one night, and I reached out to shake your hand, it's likely you would return the gesture. This is positive action--positive reaction.

However if we met and I pushed you into the wall, it's likely you would push me into the wall right back. Negative action--negative reaction.

At most any time, an action is met with a similar reaction. If you try to take most all of the money from the wealthy, are you really expecting a positive reaction????

If the tax rate were 0%, the government would collect 0 dollars. If the tax rate were 100%, the government would still collect 0 dollars because who would be stupid enough to produce wealth?

Yet, the gop attempted to define this bill as lowing the corp tax by ending tax breaks and letting the middle class keep more of their pay.

It's a pig on both fronts.

It does lower taxes on the middle-class; at least the lower part of what they consider to be middle-class. Their definition of middle-class are those who are not in poverty and up to lower six figure incomes. If you make $175K a year, you are middle-class in their view.

According to FactCheck.org, the lower part of that middle class (65%) will see a tax reduction. The upper part of that middle-class (35%) will see an increase in taxes.

 

[bendog]

I answered your question. Tax rates should go back to what they were in the 50s and 60s, and most successful time. I pasted the information above.

Through, as I mentioned, what constitutes wealthy should be somewhat dependent on cost of living of the area.

This is a theory many of us on the right are aware of, and many on the left are not, or if they are, hate it. It's called action/ reaction

If we all decided to meet at a bar one night, and I reached out to shake your hand, it's likely you would return the gesture. This is positive action--positive reaction.

However if we met and I pushed you into the wall, it's likely you would push me into the wall right back. Negative action--negative reaction.

At most any time, an action is met with a similar reaction. If you try to take most all of the money from the wealthy, are you really expecting a positive reaction????

If the tax rate were 0%, the government would collect 0 dollars. If the tax rate were 100%, the government would still collect 0 dollars because who would be stupid enough to produce wealth?

Yet, the gop attempted to define this bill as lowing the corp tax by ending tax breaks and letting the middle class keep more of their pay.

It's a pig on both fronts.

It does lower taxes on the middle-class; at least the lower part of what they consider to be middle-class. Their definition of middle-class are those who are not in poverty and up to lower six figure incomes. If you make $175K a year, you are middle-class in their view.

According to FactCheck.org, the lower part of that middle class (65%) will see a tax reduction. The upper part of that middle-class (35%) will see an increase in taxes.

Yet the 1% gets hundreds of thousands and the .1% millions per year. The gop lied about the bills.

And it lied of corp taxes too.

 

[deanrd]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?

One stupid question wasn't enough? You had to go for two?

 

[easyt65]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?

One stupid question wasn't enough? You had to go for two?

I'll take that as a 'No'

 

[basquebromance]

Taylor Swift’s silence on tax reform is deafening.

 

[Toddsterpatriot]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

You sir, not named "Blake Allyn" and probably named Alejandro Fernandez are an absolute fool.
The "rich" pay your way and the way for all your filthy bottom feeding Peruvian buddies.

45% of Americans pay no federal income tax
45% of Americans pay no federal income tax
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.

Read: Compared to most countries, we’re undertaxed — honest

Rich people pay nearly 87% of all federal individual income tax in America

Income level Share of total federal
individual income tax paid Average income tax bill
per person
Lowest 20% -2.2% -$643
Second lowest 20% -1.7% -$621
Middle income 4.2% $1,743
Second richest 20% 12.9% $6,285
Richest 20% 86.8% $50,176
Source: Tax Policy Center

The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it.

When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.

Rich people pay 69% of all federal taxes in America

Income level Share of total federal taxes paid
Lowest 20% 0.8%
Second lowest 20% 3.4%
Middle income 9.2%
Second richest 20% 17.5%
Richest 20% 69%


What is My Tax Bracket?
Updated for Tax Year 2017

OVERVIEW

The term "tax bracket" refers to the highest tax rate charged on your income. Under the federal income tax system, different rates apply to different portions of your income. So people in, say, the 25 percent tax bracket don't actually pay 25 percent of their income in taxes; rather, the last dollar they earn is taxed at 25 percent.

Progressive system, marginal rates
The federal income tax is progressive, meaning that tax rates increase as your taxable income goes up. As of publication, for example, income was taxed at seven rates: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. These are marginal rates, meaning that each rate applies only to a specific slice of income rather than to your total income. The rate that applies to the top slice of your income is your tax bracket.

A simplified example of brackets
For a simple example of how progressive taxation works, say the government has three marginal rates, set up like this:

• 10 percent: $0 to $20,000
• 20 percent: $20,001 to $50,000
• 30 percent: $50,001 and above

Now say your taxable income is $75,000, which puts you in the 30 percent bracket. The first $20,000 of that would be taxed at 10 percent, or $2,000. The next $30,000 would be taxed at 20 percent, or $6,000. The final $25,000 of your income is taxed at 30 percent, or $7,500. Your total tax: $15,500. Even though you're in the 30 percent bracket, you actually pay only about 20.7 percent of your income in taxes.

Taxable income is what matters
Tax brackets apply only to your taxable income—that is, your total income minus all your adjustments, exemptions and deductions. For example, a married couple with two dependent children could reduce their taxable income by $29,800 in 2017 just by taking the personal exemptions and standard deduction to which all taxpayers are entitled, as of publication. This alone might be enough to drop the family into a lower tax bracket.

Adjusting tax bracket parameters
Congress decides how many tax brackets there are and what the rates will be for each bracket. It's the Internal Revenue Service's job to adjust income thresholds to keep pace with inflation. For example, in the 2017 tax year, for a married couple filing a joint return, the 10 percent bracket applied to the first $18,650 in taxable income. The 15 percent bracket went up to $75,900. The 25 percent bracket went up to $153,100, and so on. The top rate, 39.6 percent, applied when taxable income topped $470,7000. For single taxpayers, the thresholds were lower. The IRS announces the tax brackets for each year before that year begins.

First of all, everyone pays taxes.
If you buy something, you pay taxes on it.
And when you have 1% owning nearly the entire country, of course, you can't expect people with nothing to pay taxes.

The Christian way is to help people up, not stomp on them and hope they die suffering. That's the GOP way.

It's a good thing Obama fixed everything, eh?

 

[Ray From Cleveland]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?

One stupid question wasn't enough? You had to go for two?

Please explain why that question was stupid.......because you couldn't answer it???

 

[Ray From Cleveland]

I answered your question. Tax rates should go back to what they were in the 50s and 60s, and most successful time. I pasted the information above.

Through, as I mentioned, what constitutes wealthy should be somewhat dependent on cost of living of the area.

This is a theory many of us on the right are aware of, and many on the left are not, or if they are, hate it. It's called action/ reaction

If we all decided to meet at a bar one night, and I reached out to shake your hand, it's likely you would return the gesture. This is positive action--positive reaction.

However if we met and I pushed you into the wall, it's likely you would push me into the wall right back. Negative action--negative reaction.

At most any time, an action is met with a similar reaction. If you try to take most all of the money from the wealthy, are you really expecting a positive reaction????

If the tax rate were 0%, the government would collect 0 dollars. If the tax rate were 100%, the government would still collect 0 dollars because who would be stupid enough to produce wealth?

Yet, the gop attempted to define this bill as lowing the corp tax by ending tax breaks and letting the middle class keep more of their pay.

It's a pig on both fronts.

It does lower taxes on the middle-class; at least the lower part of what they consider to be middle-class. Their definition of middle-class are those who are not in poverty and up to lower six figure incomes. If you make $175K a year, you are middle-class in their view.

According to FactCheck.org, the lower part of that middle class (65%) will see a tax reduction. The upper part of that middle-class (35%) will see an increase in taxes.

Yet the 1% gets hundreds of thousands and the .1% millions per year. The gop lied about the bills.

And it lied of corp taxes too.

The GOP never denied the reduction of corporate taxes. In fact it was the highlight of the bill. The idea is to bring some of that overseas money back home along with the jobs that created it.

Actually, Mitt Romney had a great plan when he was running. Companies cannot bring money made overseas back to the US without being taxed, so they keep that money overseas. Romney wanted to eliminate that tax so they could bring that money here when they needed it and maybe expand operations.

GM ran into trouble here in the US, but not worldwide. In other countries, they were doing just fine, but they were unable to bring their own money back to the US because of taxation, so we the taxpayers bailed them out once again. They could have easily bailed themselves out if not for our tax policies.

 

[Flash]

Moon Bats are confused about this like they are confused about everything else. They are dumbshits.

The upper tax brackets are not cut. State tax deductions are eliminated that mostly affect upper income earners that pay high state taxes and who itemize.

Lower income earners get bigger up front deductions and lower tax brackets. That is a good thing,

Everybody benefits from lower corporate taxes because it reduces foreign corporate flight, decreases the cost of goods and services and creates more jobs. It also helps corporate 401K investments for pensions. Moon Bats are too stupid to understand it.

Nobody should have to pay a death tax on wealth that was already taxed. That is despicable.The welfare queens and illegals should not be allowed to inherit the wealth of productive Americans.

Moon Bats are idiots to oppose any tax cut. They are stupid like that.

 

[Toddsterpatriot]

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

You sir, not named "Blake Allyn" and probably named Alejandro Fernandez are an absolute fool.
The "rich" pay your way and the way for all your filthy bottom feeding Peruvian buddies.

45% of Americans pay no federal income tax
45% of Americans pay no federal income tax
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.

Read: Compared to most countries, we’re undertaxed — honest

Rich people pay nearly 87% of all federal individual income tax in America

Income level Share of total federal
individual income tax paid Average income tax bill
per person
Lowest 20% -2.2% -$643
Second lowest 20% -1.7% -$621
Middle income 4.2% $1,743
Second richest 20% 12.9% $6,285
Richest 20% 86.8% $50,176
Source: Tax Policy Center

The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it.

When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.

Rich people pay 69% of all federal taxes in America

Income level Share of total federal taxes paid
Lowest 20% 0.8%
Second lowest 20% 3.4%
Middle income 9.2%
Second richest 20% 17.5%
Richest 20% 69%


What is My Tax Bracket?
Updated for Tax Year 2017

OVERVIEW

The term "tax bracket" refers to the highest tax rate charged on your income. Under the federal income tax system, different rates apply to different portions of your income. So people in, say, the 25 percent tax bracket don't actually pay 25 percent of their income in taxes; rather, the last dollar they earn is taxed at 25 percent.

Progressive system, marginal rates
The federal income tax is progressive, meaning that tax rates increase as your taxable income goes up. As of publication, for example, income was taxed at seven rates: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. These are marginal rates, meaning that each rate applies only to a specific slice of income rather than to your total income. The rate that applies to the top slice of your income is your tax bracket.

A simplified example of brackets
For a simple example of how progressive taxation works, say the government has three marginal rates, set up like this:

• 10 percent: $0 to $20,000
• 20 percent: $20,001 to $50,000
• 30 percent: $50,001 and above

Now say your taxable income is $75,000, which puts you in the 30 percent bracket. The first $20,000 of that would be taxed at 10 percent, or $2,000. The next $30,000 would be taxed at 20 percent, or $6,000. The final $25,000 of your income is taxed at 30 percent, or $7,500. Your total tax: $15,500. Even though you're in the 30 percent bracket, you actually pay only about 20.7 percent of your income in taxes.

Taxable income is what matters
Tax brackets apply only to your taxable income—that is, your total income minus all your adjustments, exemptions and deductions. For example, a married couple with two dependent children could reduce their taxable income by $29,800 in 2017 just by taking the personal exemptions and standard deduction to which all taxpayers are entitled, as of publication. This alone might be enough to drop the family into a lower tax bracket.

Adjusting tax bracket parameters
Congress decides how many tax brackets there are and what the rates will be for each bracket. It's the Internal Revenue Service's job to adjust income thresholds to keep pace with inflation. For example, in the 2017 tax year, for a married couple filing a joint return, the 10 percent bracket applied to the first $18,650 in taxable income. The 15 percent bracket went up to $75,900. The 25 percent bracket went up to $153,100, and so on. The top rate, 39.6 percent, applied when taxable income topped $470,7000. For single taxpayers, the thresholds were lower. The IRS announces the tax brackets for each year before that year begins.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

Listen Corporal, they pay more of a share out of their salaries was my point, obviously the rich pay more in absolute terms because they make a shit ton more money.

When 1% of the country owns all of it of course they will pay more in absolute terms.

The point is a middle class worker making 75k a year is pay a third of their salary to uncle Sam. Mark Zuckleberg had 350 million dollar tax return a few years back,

Here are some facts for you:

• The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
• In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
• The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
• The average federal income tax rate of the richest 400 Americans was just 20 percentin 2009.
• Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
• 1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.
• CEOs of major corporations earn nearly 300 times more than an average worker.
• 30 percent of income inequality is due to unfair taxes and budget cuts to services and benefits.
• The largest contributor to increasing income inequality has been changes in income from capital gains and dividends.

Now I know you are merely a patriot for the ultra wealthy. So you like this stuff!!

The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.

Darn those rich people, paying a higher rate than the middle class. Rich bastards!!!

 

[Toddsterpatriot]

Fine, then again, show me what this amount is. Show me any situation where people had no access to money because of what other people had.

Only liberals are allowed to be wealthy...though we don’t know who the “wealthy” are,nor do we know what their “fair share” of taxes is.

It’s nothing more than bumper sticker mantra from the left.

My criticism extends to both.

democrats pretend to care about the middle class and fuck them just as hard as the right.

No one fucks the middle class like the GOP. No one.

Name the last time the GOP fucked the middle-class. I can name you several times the DumBama administration has during his 8 years.

Reganomics killed the middle class.
More recently, republicans killing the consumer finance protection bureau hurts the middle class.
Koch funding has blocked efforts to help the middle class.

Reganomics killed the middle class.

Only by moving the middle class into the upper class.

 

[ColonelAngus]

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

You sir, not named "Blake Allyn" and probably named Alejandro Fernandez are an absolute fool.
The "rich" pay your way and the way for all your filthy bottom feeding Peruvian buddies.

45% of Americans pay no federal income tax
45% of Americans pay no federal income tax
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.

Read: Compared to most countries, we’re undertaxed — honest

Rich people pay nearly 87% of all federal individual income tax in America

Income level Share of total federal
individual income tax paid Average income tax bill
per person
Lowest 20% -2.2% -$643
Second lowest 20% -1.7% -$621
Middle income 4.2% $1,743
Second richest 20% 12.9% $6,285
Richest 20% 86.8% $50,176
Source: Tax Policy Center

The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it.

When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.

Rich people pay 69% of all federal taxes in America

Income level Share of total federal taxes paid
Lowest 20% 0.8%
Second lowest 20% 3.4%
Middle income 9.2%
Second richest 20% 17.5%
Richest 20% 69%


What is My Tax Bracket?
Updated for Tax Year 2017

OVERVIEW

The term "tax bracket" refers to the highest tax rate charged on your income. Under the federal income tax system, different rates apply to different portions of your income. So people in, say, the 25 percent tax bracket don't actually pay 25 percent of their income in taxes; rather, the last dollar they earn is taxed at 25 percent.

Progressive system, marginal rates
The federal income tax is progressive, meaning that tax rates increase as your taxable income goes up. As of publication, for example, income was taxed at seven rates: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. These are marginal rates, meaning that each rate applies only to a specific slice of income rather than to your total income. The rate that applies to the top slice of your income is your tax bracket.

A simplified example of brackets
For a simple example of how progressive taxation works, say the government has three marginal rates, set up like this:

• 10 percent: $0 to $20,000
• 20 percent: $20,001 to $50,000
• 30 percent: $50,001 and above

Now say your taxable income is $75,000, which puts you in the 30 percent bracket. The first $20,000 of that would be taxed at 10 percent, or $2,000. The next $30,000 would be taxed at 20 percent, or $6,000. The final $25,000 of your income is taxed at 30 percent, or $7,500. Your total tax: $15,500. Even though you're in the 30 percent bracket, you actually pay only about 20.7 percent of your income in taxes.

Taxable income is what matters
Tax brackets apply only to your taxable income—that is, your total income minus all your adjustments, exemptions and deductions. For example, a married couple with two dependent children could reduce their taxable income by $29,800 in 2017 just by taking the personal exemptions and standard deduction to which all taxpayers are entitled, as of publication. This alone might be enough to drop the family into a lower tax bracket.

Adjusting tax bracket parameters
Congress decides how many tax brackets there are and what the rates will be for each bracket. It's the Internal Revenue Service's job to adjust income thresholds to keep pace with inflation. For example, in the 2017 tax year, for a married couple filing a joint return, the 10 percent bracket applied to the first $18,650 in taxable income. The 15 percent bracket went up to $75,900. The 25 percent bracket went up to $153,100, and so on. The top rate, 39.6 percent, applied when taxable income topped $470,7000. For single taxpayers, the thresholds were lower. The IRS announces the tax brackets for each year before that year begins.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

Listen Corporal, they pay more of a share out of their salaries was my point, obviously the rich pay more in absolute terms because they make a shit ton more money.

When 1% of the country owns all of it of course they will pay more in absolute terms.

The point is a middle class worker making 75k a year is pay a third of their salary to uncle Sam. Mark Zuckleberg had 350 million dollar tax return a few years back,

Here are some facts for you:

• The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
• In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
• The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
• The average federal income tax rate of the richest 400 Americans was just 20 percentin 2009.
• Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
• 1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.
• CEOs of major corporations earn nearly 300 times more than an average worker.
• 30 percent of income inequality is due to unfair taxes and budget cuts to services and benefits.
• The largest contributor to increasing income inequality has been changes in income from capital gains and dividends.

Now I know you are merely a patriot for the ultra wealthy. So you like this stuff!!

The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.

Darn those rich people, paying a higher rate than the middle class. Rich bastards!!!

The rich need to pay their fair share, you racist homophobic transphobic misogynist white Supremacist.

 

[easyt65]

'They need to pay more because they have / make more' isn't 'paying their fair share'. It's liberal re-distribution of wealth - OTHER PEOPLE'S wealth, not their own.

 

[eflatminor]

“Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects.”
― Murray N. Rothbard

 

[Hutch Starskey]

Corporations are people.

Walmart is a corporation that employs nearly 1.5million people in the USA.

It takes a special kind of dipshit to think that lowering the corporate tax rate will somehow hurt the “middle class” and “children” like Pelosi and Schumer would have one believe.

So giving the owners more money will help the workers, uh, how?

Thank you. Wages are the main problem.
The owners can already afford higher wages yet they are not increasing them.

 

[BulletProof]

“Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects.”
― Murray N. Rothbard

The federal income tax exists to make the rich richer.

 

[miketx]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?