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Re: What would happen with 1965-80 tax brackets?

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Message 11 of 40
Now, that is some BIG GOVERNMENT, no?
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Re: What would happen with 1965-80 tax brackets?

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Message 12 of 40

https://www.pbs.org/newshour/nation/wealthiest-getting-wealthier-lobbying-lot

 

The above article titled "The wealthiest are getting wealthier, and lobbying has a lot to do with it" taken from the PBS.org site from an article dated 1/19/2015

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Re: What would happen with 1965-80 tax brackets?

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easyed598:  Olderscout failed to mention that reagan tax cuts brought in more revenue than before his tax cuts by providing more spendible income to individuals and allowing corporations to expand  and also creating millions of more jobs for people who paid taxes. However ,the greedy Congress, manage to spend every extra dollar on their pet projects.

 

 

Why do you fail to mention that Reagan's tax plan cut revenue so drastically he subsequently raised taxes 11 times to make up the shortfall? Look at the actual data from that era Ed, you're buying in to a fairytale.

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Re: What would happen with 1965-80 tax brackets?

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Message 14 of 40

ChasKy53:  Scout, you will never sell this to greedy self seeking idiots.

 

 

Amen to that Chas. It's always Me First, America second.

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Re: What would happen with 1965-80 tax brackets?

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Message 15 of 40

https://www.huffingtonpost.com/sen-don-riegle/post_1901_b_845106.html

 

This article from Apr. 5, 2011 from HuffPost is titled "Pay Back The Money Borrowed From Social Security"....

 

Now, why should we keep increasing the lower 99% taxes when the Feds never have to pay back taxes they borrow???  Now, let's go find out if the upper class, that 1%, uses their money to control our representation by lobbying, no?

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Re: What would happen with 1965-80 tax brackets?

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Message 16 of 40

@Olderscout66 wrote:

 


@NOTHAPPENING wrote:

@Olderscout66 wrote:

@NOTHAPPENING wrote:

@rker321 wrote:

So  what is the answer to the 2018 taxes and the fact that no medical deduction under 26,000 would be allowed?


 

The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2017 and 2018. Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.

 

https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9

 

This rule is for those that itemize otherwise take the standard deduction.


True, and in exchange for being able to get a better deal (bigger refund) using the "short form", the Middle Class will pay MORE TAXES because the standard deduction has gone up a lot slower than the Republicans have pushed the "value" of deductions DOWN. Reagan did this in spades when his taxscam nearly DOUBLED the AIG of the average worker when his/her wages only went up a few percent after inflation. Now lil donny is trying his hand at screwing over those who elected him.

 

Just another way the GOPerLords transfer the burden of supporting our civilization from the Uberrich to the Middle Class without the "willfully ignorant" (Fox didn't report it, so they won't believe it) Republicans among the bottom 99% noticing.

 

We can erase all that pernicious tax adjustment by repealing the Reagan taxscam and returning to what worked like a charm for 20 years and drastically reduce State and Local taxes while improving infrastructure and boosting CONSUMPTION which is the key to growing the economy for the long term.

 

All that additional revenue will wind up in the pockets of ordinary working men and women who execute the contracts to rebuild our roads, bridges, ports, airports, schools and research facilities and everything else that's fallen into rack and ruin due to Republican "benign neglect".

 

Then those hard working Americans will SPEND virtually every additional dime the receive, adding a TRILLION DOLLARS to consumer demand, driving producers to expand production with overtime, outsourcing and eventually new plant and equipment with new workforces right here in the USA.

 

Or we could follow the Republican plan, shove our heads under the sand of the Uberrich's kittylitter, and wait for the golden shower to dribble down on us from all the taxes the rich no longer pay. How'd that work for ya these past 32 years?


I trust you do remember that those you are trying to shove under the bus are

the top 1 percent who paid a greater share of individual income taxes (39.0 percent) than the bottom 90 percent combined (29.4 percent).

 

https://taxfoundation.org/summary-federal-income-tax-data-2017/


Please explain how going back to a situation that existed for 20 years and is a major improvement on the situation that existed for 30 years before that equates to "shoving under the bus".

The situation that existed 20 some years ago is better for YOU since you would pay less and the top 1% would get shafted even more.

 

What will happen is the 99% of Americans who had their tax burden increase by nearly 50% will once again be able to save money, see their kids graduate from college debt free, and enjoy income gains that will put them farther ahead then their parents got. The 1% will continue to get more wealthy every year, just not as fast as they are now. Don't see any bus anywhere.

How will the "wealthy" 1% get more wealthy with even more burden? You really mean, YOU would get more wealthy if THEY paid more and YOU paid less. I think you would much prefer that the top 1 percent who paid a greater share of individual income taxes (39.0 percent) than the bottom 90 percent combined (29.4 percent) would now pay (under your scheme) 49% of all taxes and you would pay nothing.


 

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Re: What would happen with 1965-80 tax brackets?

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Message 17 of 40

Scout - you seem to have retreated from long lists of numbers about "what would have happened" and moved into your more comfortable  area of GOPerLords, Uberrich and kittylitter.

 

Here is the reality - the Reagan tax cuts of 1986 resulted in an increase in collections by the Treasury.

 

You like to talk in terms of percentages and TMR but the government collects and spends real dollars.

 

https://taxfoundation.org/federal-tax-revenue-source-1934-2018/

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Re: What would happen with 1965-80 tax brackets?

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Message 18 of 40


@NOTHAPPENING wrote:

@Olderscout66 wrote:

@NOTHAPPENING wrote:

@rker321 wrote:

So  what is the answer to the 2018 taxes and the fact that no medical deduction under 26,000 would be allowed?


 

The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2017 and 2018. Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.

 

https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9

 

This rule is for those that itemize otherwise take the standard deduction.


True, and in exchange for being able to get a better deal (bigger refund) using the "short form", the Middle Class will pay MORE TAXES because the standard deduction has gone up a lot slower than the Republicans have pushed the "value" of deductions DOWN. Reagan did this in spades when his taxscam nearly DOUBLED the AIG of the average worker when his/her wages only went up a few percent after inflation. Now lil donny is trying his hand at screwing over those who elected him.

 

Just another way the GOPerLords transfer the burden of supporting our civilization from the Uberrich to the Middle Class without the "willfully ignorant" (Fox didn't report it, so they won't believe it) Republicans among the bottom 99% noticing.

 

We can erase all that pernicious tax adjustment by repealing the Reagan taxscam and returning to what worked like a charm for 20 years and drastically reduce State and Local taxes while improving infrastructure and boosting CONSUMPTION which is the key to growing the economy for the long term.

 

All that additional revenue will wind up in the pockets of ordinary working men and women who execute the contracts to rebuild our roads, bridges, ports, airports, schools and research facilities and everything else that's fallen into rack and ruin due to Republican "benign neglect".

 

Then those hard working Americans will SPEND virtually every additional dime the receive, adding a TRILLION DOLLARS to consumer demand, driving producers to expand production with overtime, outsourcing and eventually new plant and equipment with new workforces right here in the USA.

 

Or we could follow the Republican plan, shove our heads under the sand of the Uberrich's kittylitter, and wait for the golden shower to dribble down on us from all the taxes the rich no longer pay. How'd that work for ya these past 32 years?


I trust you do remember that those you are trying to shove under the bus are

the top 1 percent who paid a greater share of individual income taxes (39.0 percent) than the bottom 90 percent combined (29.4 percent).

 

https://taxfoundation.org/summary-federal-income-tax-data-2017/


Please explain how going back to a situation that existed for 20 years and is a major improvement on the situation that existed for 30 years before that equates to "shoving under the bus".

 

What will happen is the 99% of Americans who had their tax burden increase by nearly 50% will once again be able to save money, see their kids graduate from college debt free, and enjoy income gains that will put them farther ahead then their parents got. The 1% will continue to get more wealthy every year, just not as fast as they are now. Don't see any bus anywhere.

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Re: What would happen with 1965-80 tax brackets?

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Message 19 of 40

@Olderscout66 wrote:

@NOTHAPPENING wrote:

@rker321 wrote:

So  what is the answer to the 2018 taxes and the fact that no medical deduction under 26,000 would be allowed?


 

The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2017 and 2018. Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.

 

https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9

 

This rule is for those that itemize otherwise take the standard deduction.


True, and in exchange for being able to get a better deal (bigger refund) using the "short form", the Middle Class will pay MORE TAXES because the standard deduction has gone up a lot slower than the Republicans have pushed the "value" of deductions DOWN. Reagan did this in spades when his taxscam nearly DOUBLED the AIG of the average worker when his/her wages only went up a few percent after inflation. Now lil donny is trying his hand at screwing over those who elected him.

 

Just another way the GOPerLords transfer the burden of supporting our civilization from the Uberrich to the Middle Class without the "willfully ignorant" (Fox didn't report it, so they won't believe it) Republicans among the bottom 99% noticing.

 

We can erase all that pernicious tax adjustment by repealing the Reagan taxscam and returning to what worked like a charm for 20 years and drastically reduce State and Local taxes while improving infrastructure and boosting CONSUMPTION which is the key to growing the economy for the long term.

 

All that additional revenue will wind up in the pockets of ordinary working men and women who execute the contracts to rebuild our roads, bridges, ports, airports, schools and research facilities and everything else that's fallen into rack and ruin due to Republican "benign neglect".

 

Then those hard working Americans will SPEND virtually every additional dime the receive, adding a TRILLION DOLLARS to consumer demand, driving producers to expand production with overtime, outsourcing and eventually new plant and equipment with new workforces right here in the USA.

 

Or we could follow the Republican plan, shove our heads under the sand of the Uberrich's kittylitter, and wait for the golden shower to dribble down on us from all the taxes the rich no longer pay. How'd that work for ya these past 32 years?


I trust you do remember that those you are trying to shove under the bus are

the top 1 percent who paid a greater share of individual income taxes (39.0 percent) than the bottom 90 percent combined (29.4 percent).

 

https://taxfoundation.org/summary-federal-income-tax-data-2017/

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Re: What would happen with 1965-80 tax brackets?

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Message 20 of 40

@NOTHAPPENING wrote:

@rker321 wrote:

So  what is the answer to the 2018 taxes and the fact that no medical deduction under 26,000 would be allowed?


 

The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2017 and 2018. Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.

 

https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9

 

This rule is for those that itemize otherwise take the standard deduction.


True, and in exchange for being able to get a better deal (bigger refund) using the "short form", the Middle Class will pay MORE TAXES because the standard deduction has gone up a lot slower than the Republicans have pushed the "value" of deductions DOWN. Reagan did this in spades when his taxscam nearly DOUBLED the AIG of the average worker when his/her wages only went up a few percent after inflation. Now lil donny is trying his hand at screwing over those who elected him.

 

Just another way the GOPerLords transfer the burden of supporting our civilization from the Uberrich to the Middle Class without the "willfully ignorant" (Fox didn't report it, so they won't believe it) Republicans among the bottom 99% noticing.

 

We can erase all that pernicious tax adjustment by repealing the Reagan taxscam and returning to what worked like a charm for 20 years and drastically reduce State and Local taxes while improving infrastructure and boosting CONSUMPTION which is the key to growing the economy for the long term.

 

All that additional revenue will wind up in the pockets of ordinary working men and women who execute the contracts to rebuild our roads, bridges, ports, airports, schools and research facilities and everything else that's fallen into rack and ruin due to Republican "benign neglect".

 

Then those hard working Americans will SPEND virtually every additional dime the receive, adding a TRILLION DOLLARS to consumer demand, driving producers to expand production with overtime, outsourcing and eventually new plant and equipment with new workforces right here in the USA.

 

Or we could follow the Republican plan, shove our heads under the sand of the Uberrich's kittylitter, and wait for the golden shower to dribble down on us from all the taxes the rich no longer pay. How'd that work for ya these past 32 years?

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