WRONG. https://en.wikipedia.org/wiki/United_States_budget_process Bernie cannot implement ANYTHING like Single Payer or minimum wage without Congress.
I already did. The part where my taxes go up by $18,000. I don't care how you spin it: anybody who tries to tell me that somehow that doesn't blow a giant hole in my household budget has, in the words of that slimeball Ted Cruz, a tenuous relationship with the truth. And that's putting it nicely.
I am sorry, but you if want to have a serious conversation, you have to share what your income level, filing status, are.
I don't like sharing details in public, but between my wife and I we make a bit more than $100k. We file married joint. The number did not go down no matter how many children we have, even more worryingly.
Regardless, enough people get behind something it will come to fruition. I'm sure a decade ago people though gay marriage wouldn't become legal. Major cities have already raised the minimum wage to 15$ and I think New Braunfels just became the 1st Texas City. People aren't waiting on a broken system built on greed.
I looked around on that Vox calculator and it is very vague on what it is doing, and there apparently is alot of questions by users it doesn't answer well. Here is another look: http://www.fool.com/retirement/gene...nders-income-tax-brackets-how-much-would.aspx For your bracket, your taxes would go from: 25% on ordinary income 15% on capital gains to 27.2% on ordinary income 17.2% on capital gains So if you are 105k, with no capital gains, taxes go from $26,250 to $28,560 with you no longer needing to pay $2,000 for healthcare. So, I see a $300 dollar increase.
LOL....The only way it happens is to have Democrats take full control of Congress. That would be atleast the next mid-term elections. However, Republicans do better in mid-term elections. Give up this pipe-dream for awhile.
LOL....Sanders is NOT Obama. He doesn't have the Hispanic or Black vote. Without that......he cannot win. Clinton locks up that demographic, that is best way for the Democrats to keep the Whitehouse. Sanders is George McGovern...period. We all know how that ended.
BTW......it not that Sanders lost the more diverse states. It's How badly he lost them. That would be the concern. When you cannot crack 15% of the black vote......or 30% of the Hispanic vote as a Democrat.......that is a HUGE problem....because that is the historic base of the Democratic party.
For once I would be thankful for a Republican house to stop those crazy payroll taxes. The middle class has been squeezed enough - he's crazy to put a single penny more burden on anyone making less than $150k.
The analysis by the tax center is showing a more significant drop in income from his tax plan. Someone has to pay for that 6.6% health tax and I doubt employers are going to absorb the cost of that.
You didn't give him a standard deduction or the 2 exemptions (could be more with kids). After that, not much income would be in his marginal tax rate of 27.2%. 105k -12.6k -2(4k) = 84.4k (taxable income) Sanders Plan (84.4k - 75.3k) * 27.2% = 2.96k (tax burden at 27.2%) (75.3k - 18.55k) * 17.2% = 9.7k (tax burden at 17.2%) 18.55k * 12.2% = 2.26k (tax burden at 12.2%) Total tax burden = 14.92k Net Income = 90.08k Effective Federal Tax Rate (taxes/gross) = 14.2% Current Tax Model (84.4k - 75.3k) * 25% = 2.7k (tax burden at 25%) (75.3k - 18.55k) * 15% = 8.24k (tax burden at 15%) 18.55k * 10% = 1.86k(tax burden at 10%) Total tax burden = 12.9k Net Income = 92.1k Effective Federal Tax Rate = 12.3% So, it's really a difference of ~$1020. You get your ~$2k for insurance, netting $980 for a family of that profile. On a somewhat related note, in either scenario I'd also recommend contributing at least the amount taxed at the marginal rate to traditional IRAs or a 401k. That would reduce the difference even more.
You guys need to remember that just like NFL draft information, everything put out in an election year is crafted to yield the intended result for the sponsor. Trust no one or anything unless you absolutely know the source is independent, non-partisan and non-profit. And there is no reason to get to caught up in the details of Bernie's tax plans because it would never happen anyway. Remember this is a democracy of compromise. Government, when it does work at all, only yields compromised committee solutions. Policy proposals always start with extreme positions and end up weak semblances of their original intent, like single payer ending up as the ACA. What progressives really want is slight change in direction where corporate profits and high income earners get somewhat reduced tax breaks, but to incite the voters to that point you have to overstate your plan and fall back into compromise.... with the party of no. We would still would be a decade of changing sentiment and a Congressional shift to even get that. But you have to start the change and counter the 'trickle down, supply side" entrenched propaganda first and you can't do that with nuanced ideas, they need to be game changing concepts.
Thanks for.your thought provoking statement. It adds so much to this discussion of Bernie Sanders' candidacy.
Not to go meta on you, but it's kinda... a thread about Bernie Sanders. If his tax plan doesn't interest you because you believe it to be not relevant, the simple solution for you would be to... not post in a thread about Bernie Sanders. Or am I missing something here?
