Joe Biden Understands Marginal Tax Rates

[Trajan]

You have issues that I cannot address here. So I'm moving on.

Anyway, again, this is what a marginal rate means:

What is marginal rate? definition and meaning

The tax rate paid on the last dollar of one's income (known as the marginal tax rate). In a graduated tax system (which most countries use), this rate will be equal to or higher than the tax rate paid on the person's entire income, since the tax rate is lower for the first dollars of income than for subsequent dollars of income.

Read more: What is marginal rate? definition and meaning

oh please don't go

 

[SAT]

actually that 12.5% will apply to those "rich" making over 200/250K ( and you have not the slightest idea what I am talking about either do you?) and I didn't make a point of making the rich an election angle.....focus.

I'm speaking of this bill, the one Biden is discussing.

Please, show us your links. Thanks.

oh please don't go

Reading problems? Maybe I can help. I have no intention of going anywhere away from the board. I meant I'm moving on in this thread. Got it now?

 

[SAT]

Your inevitable point will be that it is SUCH A SMALLLLL AMOUNT!! and why cant the rich pay JUST A LITTLE BIT MORE!!!!!, and that is the true jist of your post.

Yes, that is the point. Why can't they pay a little bit more, since they are doing well, since the nation isn't, and since the nation helped them get where they are.

Good job!

If a man makes a million and one dollars, he's only taxed on those last two dollars at the top rate.

Is this your complaint? That I said $1,000,001 and Biden said $1,000,000? Is that what you're going on about?

 

[martybegan]

Your inevitable point will be that it is SUCH A SMALLLLL AMOUNT!! and why cant the rich pay JUST A LITTLE BIT MORE!!!!!, and that is the true jist of your post.

Yes, that is the point. Why can't they pay a little bit more, since they are doing well, since the nation isn't, and since the nation helped them get where they are.

Good job!

If a man makes a million and one dollars, he's only taxed on those last two dollars at the top rate.

Is this your complaint? That I said $1,000,001 and Biden said $1,000,000? Is that what you're going on about?

Because its not sustainable. Each time the "little bit more" gets increased, the spending increases to use up that "little bit more", exceeds it, and then "a little bit more" gets added again.

And I'm not just talking at the federal level. It is seen at the state level and the local level, between increases in property taxes at an almost annual clip, and surcharges on high income on state income taxes (those that have them).

Next we will begin to see luxury tax rates on consumer goods over a certain amount.

There is a difference between progressive taxation, and soaking those at the top. Once you get to the soaking point you are effectively achiving taxation without reperesentation.

 

[SAT]

Those at the top are not being soaked. Their taxes are at a historic low. They are abundantly well represented. You and I are not.