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In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 4:37 PM
And just because I'm bored...by filling out hte 1040 form Income 379,150 (33% bracket) - tax burden 110,016.50 Income 379,151 (35% and highest bracket) - tax burden 110,016.85 ... I'm right...again
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 4:29 PM
Income 83,500 - tax burden 16,994 Income 83,700 - tax burden 17,046 ... I'm right So please, tell me again how I'm a socialist and lieing and how the 1040 tax tables will prove me wrong...
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 4:27 PM
Look at the tax tables...what a wonderful idea let's do that. If you're right, everytime you pass a tax bracket your tax burden should go up significantly. If I'm right everytime we pass a tax bracket your tax burden should go up very little...and off we go from the 2011 tax tables off the IRS web site (http://www.irs.gov/pub/irs-pdf/i1040tt.pdf) tax brackets: 8500 = 10% 34500 = 15% 83600 = 25% 174400 = 33% (the actual table only goes up to 100k though and then you have to fill out the whole 1040 form to figure out your tax burden which I don't have the time for) Income 8400 - tax burden $843 Income 8600 - tax burden $861 ... I'm right Income 34,400 - tax burden $4731 Income 34,600 - tax burden $4769 ... I'm right
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 2:24 PM
I totally agree...but he corporate tax rate is totally different then the individual tax rate that is talked about above.
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 2:15 PM
33% on taxable income over $178,650 to $388,350, plus 35% on taxable income over $388,350. Obama proposed to raise the rate on people making over 250k by 3%, but that only applies to the income that is OVER 250K. These people pay the same rates as everyone else on their income below 250k. So the rate increase does not affect you at all if you make 250k...if you make 250,001 it would affect you...to the tune of 3 cents.
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 2:11 PM
I'm sorry, is your reading comprehesion bad? to make his bait and switch argument, Sowell has redefined millionaires to mean people with INCOME over a million/year. That's is not the definition (which is people who have a total net worth over a million). while it's possible that there are people who make 250k/year and don't have a million in total worth it's not very likely. You clearly don't know how the tax code works. Regardless of their total income, everyone pays the same rate on the beginnings of their earnings: •10% on taxable income from $0 to $8,700, plus •15% on taxable income over $8,700 to $35,350, plus •25% on taxable income over $35,350 to $85,650, plus •28% on taxable income over $85,650 to $178,650, plus
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 12:40 PM
and back in reality...the definition of a millionare is HAVING a million dollars total, not MAKING a million a year so the authors bait and switch argument is a complete fabrication. Also, the tax increase applies to TAXABLE income OVER 250k, so if you made 250k a year your increase in tax burden would be a terrible...$0. If you made 500k of TAXABLE income (remember after any deductions you took) your increase in taxes would be a whooping $7,500. How many jobs do you think you could create with that money?
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 12:27 PM
Or when they need to actually pay off money that was already spent...
In response to:

'Bait and Switch' Taxes

ebartee Wrote: Sep 05, 2012 12:24 PM
I agree. However, the Republicans want to balance the budget by lowering taxes, increasing defense spending, and cutting everything else. You could totally eliminate ALL discretionary spending and not really dent the deficiet, so what that means is cutting HUGE amounts of money from medicare and medicaid. Given those two options, I'd rather increase taxes and cut defense. Of course, what I'd really rather do is increase taxes, cut defense, AND cut medicare and medicaid...but no one ever suggests all of that.
What exactly is the criticism of him people are talking about? All the email says is that Romney plans to use Ryan to get money from Adelson...who will give a ton of money to defeat Obama... What part of that isn't true? or critical for that matter? It's jsut a statement of facts that not even Romney or Adelson would likely dispute.
1: the senate cannot pass a budget without 60 votes. Since no republican will vote for what the president/dem's in the senate put forth, the senate cannot pass a budget. 2: raising taxes is a means to lower the debt 3: ryan's budget is supposed to be revenue neutral while lowering taxes on the rich. Since the rich already pay more taxes then everyone else (due to the progressive nature of the US tax code) the ONLY mathmatical way to make this work is to either assume gigantic increases in the economy from the tax break or to raise taxes on someone else...ie the middle class. Anything else?
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