The economic reason why tax cuts for the rich are so stupid

But rasing the minimum wage will?

 

If your in the top 25% you're really not in the middle class, depending on how you define it.

 

I said nothing about raising the minimum wage. There are separate thread on that.

 

It would be a huge boon for me and I am middle class.

 

It's obvious to us working class guys on this forum your either a millionaire or never had a job that paid by the hour and read your pay stubs .

 

Anyone can say anything on the internet.

How much do you claim you would save with a 50% cut on your income taxes?

 

IMO it's obvious to anyone reading this forum that you have made stuff up about your claims.

Given that, I don't trust that anything you've claimed isn't made up. But others can decide for themselves.

 

Now I read your post some more, Jesus Christ me making $42 An hour doesn't mean I have more $42 An hour in my back pocket, I am having more taxes taken out, I don't know grammar and spelling so well but I do know math.

 

~ $1,000 a month. Upper middle class but still middle class.

 

Oh yea this is my house on lake Hartwell in south Carolina , I could provide more pictures today if you like..

 

Why do you even try me?

 

I am just a middle class guy and I know I could buy more toys with cutting my federal taxes in half..and you have the nerve to say it's peanuts, a pure insult.

 

I'm sorry, you've demonstrated you'll make **** up to make a claim. I personal don't trust a damn thing you say.

Others can decide for themselves.

 

No, what is a "pure insult" to the millions of working middle class families who won't save a dime with donald's tax cuts is that you'd make **** up to justify those tax cuts which will be huge boon to m/billionaires like donald.

 

Now it's a dare?...no problem..my back yard

 

I could care less what the billionaires save, I surly know what I could buy /enjoy if my federal tax dollars were cut in half

 

I see. So you are paying $2000 a month in income taxes.

To pay that level of taxes, even if you're single with no kids and no other deductions, you're making over $100,000 per year.

That puts you somewhere in the top 20%. Hardly a middle class income, and certainly not the income most middle class folks make.

Seems like lots of our conservative things are making **** up today to justify running up the debt and big tax cuts for m/billionaires.

 

What the he'll, now you are claiming a little $100,000 grand a year is not middle class wages? What planet or what country you live in,

 

You really have to be a millionare to claim that

 

Upper middle class. Remember the rich according to Obama made $250k and up.

 

In order to pay the top rate a couple would have to be earning about $466,000 per year. That puts them in the top 2-3%. It is crazy to lump a dentist who owns his clinic earning $500,000 per year with a CEO of a fortune 500 company earning $20 million per year. We should have more tax brackets for richer people like we did in the 50's and 60's.

I understand that they take a lot of risk and thats why the earn so much and in addition their incomes have soared while the middle class has had stagnated incomes since the 70s. Honestly these people need tax cuts the least and we should instead be focusing on training our workforce for the technical jobs of the future.

 

I'm all for changing our Federal tax system to something which would apply equally to ALL. A flat tax rate of 23% would be a good start, requiring each able body and mind adult to pay 23% of their total income produced each year, regardless of source and with NO tax deductions at all OR provide 23% of a full time work years labour, 480 hours, in government service. Those filing for government assistance would be required to perform 40 hours labour each month until a total of 480 hours each year in order to receive ANY government assistance.

Examples of application shown below:

Unemployed person
0.00
0.00 FICA tax
0.00
0.00 Fed income tax 480 hours of government service, 40 hours minimum per month to be eligible for ANY government assistance

MW worker $7.25/hr
15,116.25
-1,156.39 FICA tax (7.65%)
13,858.86
-3,210.77 Fed income tax (23%), 480 hour of government service or a combination of both
10,648.09 Take home pay

MC worker $25/hr
52,125.00
-3,987.56 FICA
48,137.44
-11,071.61 Fed income tax
37,065.83 Take home pay

150,000.00
-10,154.40 (SS: 128,700 x .062 = 7,979.40) + (MC= 150,000 x .0145 = 2,175)
139,845.60
-32,164.49 Fed income tax
107,681.11 Take home pay


500,000.00
-19,729.40 (SS: 128,700 x .062 = 7,979.40) + (MC= 500,000 x .0235 = 11,750)
480,270.60
-110,462.24 Fed income tax
369,808.36

10,000,000.00
-242,979.40 (SS: 128,700 x .062 = 7,979.40) + (MC= 10,000,000 x .0235 = 235,000)
9,757,020.60
-2,244,144,74 Fed income tax
7,512,905.86 Take home

100,000,000.00
-2,357,979.40 (SS: 128,700 x .062 = 7,979.40) + (MC= 100,000,000 x .0235 = 2,350,000)
97,642,020.60
-22,457,664.74 Fed income tax
75,184,355.86 Take home

 

Good for them, they pay a lot.
What do you propose, giving money to those that don't pay ?

 

No, these people need a tax cut the most as the pay large percentages of their income in the form of taxes, and they are many zeros short of the "rich"