Justice PeaceKeepaGirl (D-ME) proposes Middle-Class Tax Cut
Bill fails @PeaceKeepaGirl
Huge nay because of the tax hikes
Misleading title. Shameful, NAY.
A quick guide for what you might keep as disposable income.
$17k -> $17k
$71k -> $65.6k
$143k -> $123.2k
$218k -> $164.4k
$387k -> $215k
Well luckily for us, this abomination of a bill is failing miserably
And what happens when you tax the rich so much that they all leave the country?
Don't forget we've had a top rate of 70% before. And of course I'm for tariffs, penalties for offshoring, cracking down on loopholes and tax havens, etc.
Oh, HELL no! Nobody should pay a higher percentage of their income than anyone else, except that those below the $30K poverty level should pay no tax. Everyone else, regardless of income, pays 10%, and the federal budget is reduced to 2018 levels. No exemptions or deductions.
I agree with everything, expect I think that a flat tax at 20-25% would be best.
That would allow too large a federal bureaucracy. We need to eliminate at least 80% of our current federal bureaucracy. Only way to do that is to starve it to death.
I understand that, however, I don’t think that lowering it to 10% straight away would be a smart idea. Keep lowering it gradually over time.
You have no idea what the federal government does.
Of course I do. Would you like to re-read Article 2, Section 8 and review what it’s constitutionally ALLOWED to do? Then go straight to the Tenth Amendment and see who’s supposed to do all the other stuff.
Nay for the reasons I already listed.
Nay nay nay
70%???? What hell is wrong with you?? That’s criminal theft. What cog in your brain broke, to make you think taking 70% of anyone’s income is ok?
70% only on income above $387k. People shouldn't be raking in much more than that anyway. (And to clarify, nobody would actually pay the full 70% unless they make infinite income, because you're still only charged the lower rates on the first $387k.)
Who are you to tell anyone how much they should be making? No one had the right to dictate how much is “enough” this bill is exactly what is wrong with government. Arrogant, uninformed, totalitarian reps thinking they have the right to tell people how much money they should be allowed to keep. Total and complete nonsense
Huge Nay!!! This is not the right way to fix the problem; we should be lowering taxes not raise them for people who make more money than the rest of us.
Nay. Sections (d), (e), and (f) are comically oppressive.
I want to say yea, but I think the percentages should be a bit different. I like the overall idea and gist, but nay
Everyone voting yea on this should have to pay 70% in taxes.
On income above $387K, yes.
Middle-Class Tax Cut:
I. Income tax rates shall be adjusted as set forth in (a)-(f). This shall not be understood as affecting any exemptions or credits.
(a) The tax rate on income below $17K is hereby lowered to 0%.
(b) The tax rate on income above $17K is hereby lowered to 10%.
(c) The tax rate on income above $71K is hereby lowered to 20%.
(d) The tax rate on income above $143K is hereby raised to 45%.
(e) The tax rate on income above $218K is hereby raised to 55%.
(f) The tax rate on all income above $387K is hereby raised to 70%.
Summary: Estimated cost $4B/yr. according to Splitwise's (admittedly slightly outdated) tax revenue estimation tool.