EverCurious
Gold Member
I believe in reducing the tax burdens on the lower and middle classes because doing so translates into increase consumer spending which helps the economy. The problems is with income and wealth above 100,000 dollars. Rates for them should stay the same and then gradually increase as you go up the economic later with the top rate needing to be increased from 39% to 70%.
$100,000 isn't that much income depending on where you live, and if you have a family, or not. Higher tax RATES will only translate into a slower economy. It acts as anchor on people, and higher rates do NOT translate into higher REVENUE as the Economy SLOWS. We need economic expansion to increase Tax Revenue. That is why we are currently seeing RECORD FEDERAL INCOME TAX REVENUE.
Have you any experience, or education in business, finance, or economics?
Most expensive place to live in the United States is Manhattan Island. In 2015, median household in come on Manhattan Island was $72,000 dollars a year. That means half of the households living in Manhattan were actually making less than $72,000 dollars a year, the other half above that. This is from the bureau of labor statistics. So $100,000 dollars were more the enough money to live in the most expensive place in the country, which means is way more than enough throughout most of the United States. If your struggling on $100,000 dollars, then its because you don't know how to manage money. Some people don't which means its unwise for them to have children or engage in other types of spending.
AKA I want to steal their money because I know better than they do how much they "deserve" to keep.
Piss off communist!