There is no “borrowed $1.5 trillion”.
Middle Class to Get 23% of Tax Cuts (guess who gets the other 77%?)
- Thread starter nat4900
- Start date
There is no “borrowed $1.5 trillion”.
Toddsterpatriot
Diamond Member
And don't forget my higher dividends and higher stock prices.
ThunderKiss1965
Diamond Member
I'll ask again do you plan on giving up you tax cut ?
mikegriffith1
Mike Griffith
Again, here are the tax tables for the Trump tax cuts:
Tax Bracket Tax Rate
$0.00+ 10% (no change)
$19,050+ 12% (cut from 15%)
$77,400+ 22% (cut from 25%)
$165,000+ 24% (cut from 28%)
$315,000+ 32% (cut from 33%)
$400,000+ 35% (no change)
$600,000+ 37% (cut from 39.6%)
Now, who is getting the biggest rate cuts? Ask a conservative to help you with the math.
With the Trump tax cuts, the top marginal rate for the rich will be 37%. The top marginal rate for the middle class will be no higher than 24%, and most middle-income folks will pay a top marginal rate of only 12% or 22%.
Tax Bracket Tax Rate
$0.00+ 10% (no change)
$19,050+ 12% (cut from 15%)
$77,400+ 22% (cut from 25%)
$165,000+ 24% (cut from 28%)
$315,000+ 32% (cut from 33%)
$400,000+ 35% (no change)
$600,000+ 37% (cut from 39.6%)
Now, who is getting the biggest rate cuts? Ask a conservative to help you with the math.
With the Trump tax cuts, the top marginal rate for the rich will be 37%. The top marginal rate for the middle class will be no higher than 24%, and most middle-income folks will pay a top marginal rate of only 12% or 22%.
- Moderator
- #26
The middle class doesn't carry 23% of the tax burden, so I'd say they got a pretty sweet deal. Also if the commiecrats hadn't "resisted" they could have been made permanent also. So let's see how they run on not giving the middle class tax cuts to start and allowing they to pay more in the future. I can see the ads now. LMAO
.
boedicca
Uppity Water Nymph from the Land of Funk
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A lesson for the OP. I realize I'm being rather optimistic to think that he will grok it, but here goes:
Suppose that every day 10 men go out to dinner. The bill for all ten comes to $100. If it were paid the way we pay our taxes, the first four men would pay nothing; the fifth would pay $1; the sixth would pay $3; the seventh $7; the eighth $12; the ninth $18. The tenth man (the richest) would pay $59.
The 10 men ate dinner in the restaurant every day and seemed quite happy with the arrangement until the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily meal by $20.” Now dinner for 10 costs only $80.
The first four are unaffected. They still eat for free. Can you figure out how to divvy up the $20 savings among the remaining six so that everyone gets his fair share? The men realize that $20 divided by 6 is $3.33, but if they subtract that from everybody’s share, then the fifth man and the sixth man would end up being paid to eat their meal. The restaurant owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay. Here’s what he came up with . . .
The fifth man paid nothing; the sixth pitched in $2; the seventh paid $5; the eighth paid $9; the ninth paid $12; leaving the tenth man with a bill of $52 instead of $59. Outside the restaurant, the men began to compare their savings.
“I only got a dollar out the $20,” declared the sixth man. Pointing to the tenth, he said, “And he got $7!”
“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got seven times more than me!”
“That’s true,” shouted the seventh man. “Why should he get $7 back when I got only $2? The wealthy get all the breaks.”
“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor.”
The nine men surrounded the tenth and beat him up. The next night he didn’t show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They were $52 short!...
Bush Tax Cuts Set to Expire – Should They? A Tax Fable to Enlighten
Suppose that every day 10 men go out to dinner. The bill for all ten comes to $100. If it were paid the way we pay our taxes, the first four men would pay nothing; the fifth would pay $1; the sixth would pay $3; the seventh $7; the eighth $12; the ninth $18. The tenth man (the richest) would pay $59.
The 10 men ate dinner in the restaurant every day and seemed quite happy with the arrangement until the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily meal by $20.” Now dinner for 10 costs only $80.
The first four are unaffected. They still eat for free. Can you figure out how to divvy up the $20 savings among the remaining six so that everyone gets his fair share? The men realize that $20 divided by 6 is $3.33, but if they subtract that from everybody’s share, then the fifth man and the sixth man would end up being paid to eat their meal. The restaurant owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay. Here’s what he came up with . . .
The fifth man paid nothing; the sixth pitched in $2; the seventh paid $5; the eighth paid $9; the ninth paid $12; leaving the tenth man with a bill of $52 instead of $59. Outside the restaurant, the men began to compare their savings.
“I only got a dollar out the $20,” declared the sixth man. Pointing to the tenth, he said, “And he got $7!”
“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got seven times more than me!”
“That’s true,” shouted the seventh man. “Why should he get $7 back when I got only $2? The wealthy get all the breaks.”
“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor.”
The nine men surrounded the tenth and beat him up. The next night he didn’t show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They were $52 short!...
Bush Tax Cuts Set to Expire – Should They? A Tax Fable to Enlighten
whitehall
Diamond Member
At least the radical left finally admits that the new tax bill involves tax cuts. That's progress I guess. When you factor in corporate taxes which were the highest in the industrial world being cut it looks like a pretty good deal all around. Corporations ain't your freaking enemy, they employ people at a decent wage and manufacture and distribute goods at a decent price. Doesn't it tell hypocrite lefties anything when their 401k's are up and the DOW is in record territory in a year? For some reason delusional lefties have convinced themselves that good news is bad news.
nat4900
Diamond Member
- Mar 3, 2015
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A. the middle class WILL have to pay back the loans, while corporations will NOT.
B. If the democrats had agreed to make the cuts permanent for the middle class ALSO, the estimated $1.5 trillion of borrowed money would have to go on virtually every year of this miserable administration.......
Q. Since when were the democrats supposed to be the MORE fiscally responsible ones????
A. Since rich donors threatened the corrupt republicans in congress that unless they got a huge tax cut, their donations (bribes) would not be forthcoming in 2018.
Tax Man
Gold Member
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As I will pay more this year sure!
Toddsterpatriot
Diamond Member
the middle class WILL have to pay back the loans, while corporations will NOT.
Why?
Are the Dems going to run on a tax hike for the middle class?
You spend dollars no per centages. idiot
Plus corprate reduction of 14% is the largest % and the largest in dollars. Owners/shareholders will pocket the most.
And pass through businesses will have substantial tax breaks on the pass through.
Too many people drink the Kool-aid Trump is feeding them.
ThunderKiss1965
Diamond Member
How will you be paying more ?
nat4900
Diamond Member
- Mar 3, 2015
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True..........
Did you forget that we have a debt of $20 Trillion?
Did you forget that we are in need of fixing up the infrastructure?
Did you forget that we're still fighting unpaid for wars?
Did you forget that HC premiums are rising uncontrollably?
Did you forget that you morons want to build a ******* wall?
boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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The delusional lefties are in a tizzy because Trump is proving that their economic programs are bunk. Lower taxes and fewer regulations spur economic growth - exactly the opposite of what the Left spins. They are also upset that Millennials will like lower taxes and will vote GOP.
Funny I don't remember you 'tax, borrow, and spend' liberals complaining about the $10 trillion Obama borrowed that resulted in less than 3% annual GDP growth.
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