Debate over Middle-Class Tax Cut proposed by PeaceKeepaGirl (D-ME)
You're literally calling for a tax system where people who make upwards of $300,000 a year are taxed at 70% of their income. That's not even including state and local taxes, payroll taxes, alternative minimum taxes, ultimately the estate tax, and all the other taxes you pile up on hard-working job creators.
How much can you take from someone before they decide it's not worth it to invest in our economy? When people can't even get one fourth of what they earned, then they are going to retire early and stop producing economic growth.
Why do you believe people should be punished for being more successful?
Nay, we should stop creating disincentives for work and success.
Nay. It gets silly starting with (d).
They earned the money. People choose to work for the company. Saying that at some point people have earned enough money is ridiculous. If I were to decide you have too much money and took it from you you wouldn't like that, would you? Doesn't sound very fair.
If anything you'd be the one screwing people over. The companies will begin to lay people off, move to other countries, lower incomes, etc. All in the name of "fairness."
you must be smoking some strong stuff bower
Nay, punishing success will bring less success. Tearing down the rich doesn’t build up the poor, it just ruins the economy.
Nay. This is the jealousy system where the lowest contributors get rewarded and the highest contributors punished because of their paycheck.
Nay. I am all for lowering the tax burden for low and middle income individuals, but this not the way to do it. This bill removes much of the incentive to work hard and become successful knowing that so much of your income will be payed to income taxes.
I’m going to be voting nay because this tax bracket makes no sense. A person who make $387k/year will have less money than someone who made $218k/year. If you make $387k you’ll only have $117k left and if you make $218k you’ll have $119k. These taxes are ridiculously high. Why would you take more than half of someone’s money. They earned this money, not you! You have no right to take away someone else money and then use it on someone else. I believe in tax cuts for everyone but not when you’re tax someone at 70% and when we have a huge deficit.
Nay, this is just way too much.
Most small businesses operate using income taxes instead of corporate taxes.
Do you actually think that people are going to cut corners less because they make less money? It's more likely they'll take theirs business to a place that doesn't tax their income an absurd amount.
Punishing people for making money isn't the way to go. Go on, tell me how you would feel if I decided to take almost all your money because you made too much
This is what the tax bracket would look:
$387k - 70% = $117k
$218k - 55% = $119k
$143k - 45% = $64k
$71k - 20% = $57k
$17k - 10% = $15.3
*This is the amount left over after taxes*
Bad answer. Businesses are more likely to leave the more you tax them. One business or two businesses leaving annually is not the same thing as a mass exodus of companies due to insanely high tax rates. Your logic is flawed.
I would recommend considering the logic behind your comments before posting them.
Well very high
Taxes don’t work like that. Only the income earned above $387k is taxed at 70%. All the income below that is taxed at each tax bracket level.
Ah, but you're making too much.
Do you seriously believe Business will stay if you tax them at 70%?
Leave is underestimating it, they will evacuate. Someone making 350k per year will end up with 100. Do you know how much money have to be moved to profit 350k per year? Many many millions which all that business will go somewhere else, and the few leftover will raise prices exponentially
Perhaps then we should seek options that do not involve the companies we tax leaving.
No you need more growth and to cut spending on entitlements for temporary political points like Obamacare
What Bert said.
We don't need more programs that drag people down. If we want to fix society we need a system that allows people to thrive without having others drag them down. I suggest we greatly cut welfare and get rid of programs like Obamacare that needlessly waste money and drag people down.
Taxation should certainly never be above 50%, (though, personally, I don't think it should ever be that high)
This is literally one of the dumbest bills I have ever seen
I even just said that some people require welfare, like for disabilities and other things out of their control. No, we shouldn't try to prevent self induced poverty. We can take care of our citizens better when those kinds of people aren't dragging the entire system down.
Looks like you're gonna have to cut a lot of things to keep your house. What a shame. But at least you aren't making too much money, right?
What we need to do is encourage more economic growth. With more economic growth, you create more wealth for everyone, and with more wealth being created there will be more tax revenue being generated. You don’t create more economic growth by raising taxes, especially so drastically like in this bill. We need to lower taxes and reform/simplify the code to encourage more economic growth, and therefore generate more wealth and tax revenue to improve our safety net programs and lower the national debt.
Welfare is not necessarily essential. While there are people who require disability benefits, there are others who abuse the system. Not everyone who has welfare truly needs welfare. We cannot coddle our citizens and expect our nation to flourish. Either you're strong enough to provide yourself or you fail. We cannot go on with a nation of coddled weaklings. We need to provide for ourselves. It is a waste of taxpayer money and serves only as a partisan tool to garner votes. Forget the political parties, set aside your love for those that take advantage of you. This is the United States of America we are talking about. The United States of America is considered one of the greatest nations in the world by many and there are those who would kill to be here and work hard to strengthen our great country, yet we could be even better. We have yet to reach our full potential because of the very people that seek to take advantage of you. This is our country and we should make it the best place
There will always be poor because there will always be slackers, they contribute less to growth and society than higher earners. By rewarding that behavior you are only ensuring that their children will follow in their footsteps.
I didn't say you should become a millionaire or perish. I just said that taking advantage of the welfare system happens too often and it should be changed.
They got there because the US funded them to get there and presidents took the role of sucker in chief, the US is an industrial welfare state. France is having a lot of economic problems at the moment from their hostility towards the rich, their exports are focused on cultural values, which they are simultaneously destroying as well
Explain why you think countries become richer and more successful from giving their money away.
It's still deceptive to frame it that way. Nobody making at least 387 will end up with as low as 117, period.
Then it won't help us.
Because oftentimes success comes from abusing workers and manipulating currency.
And again, at a certain point you have enough money.
on Earth. If you do not wish this simply for your country, do it for the advancement of the human race. We are considered one of the world's greatest leaders. It is time to set an example worth following.
Didn't you just say you don't believe it causes economic prosperity?
People might be happy that they can live their lives without having to do anything sure, but that doesn't mean it's a good thing for the rest of us. It is a burden on our society. Our money is better spent on things that benefit it rather than supporting people who don't want to do anything to help us
I thought this was a debate
Work somewhere else in the same field when it's another states season, problem solved. There is no excuse to claim your seasonal job is a full time job.
Again, I want to point out that the most prosperous Nations (Nordic countries, Germany, ect) got There by the welfare state
No? I didn't mean to. They are clearly the most prosperous countries.
Peace keep a girl I'd love to work with you on a tax plan, I feel like I may be able to get conservative appeal with a mixture of our plans
Personal taxes aren't corporate taxes though?
The poor shouldn't get home free no taxes. And the rich rates are a little high