Raising taxes.

[.... callchet ....]

Poll question: Raising taxes.

Will a tax plan that raises taxes progressively over $250K and cuts taxes digressively on $250K and below phasing out at $50K help the economy.

[dysfunctional press]

1. if you're saying no taxes on the first 50K- that's insane. it would never pass.

nt

[.... callchet ....]

2. Tough battle but they did it the other way.

But it is insane what they did in the other direction. That has to be reconciled .

[dysfunctional press]

8. who did what the 'other way'...?

:shrug:

[.... callchet ....]

13. In 1944 and 1945 the highest tax rate was 94%.

They took a 50% break. Now it is time to give a 50% break back to the lower incomes.

[dysfunctional press]

23. exempting the first 50K gives a 100% break to the lower classes.

and it just wouldn't fly to suggest that anybody making less than 50k pay NO income tax. 25k maybe, but no way would/should a 50k exemption be considered.

[ThomWV]

3. Phase out at about $25~30K, progressive to 25%@ 100k, straight line to 80%@250k and above

[.... callchet ....]

4. I would really rather have the $250 k and under have

more discretionary income. Tough to make it the way it is.

[ThomWV]

5. I'm flexible

OK, then shift it around a bit.

My point was that we shouldn't be taxing people's income if that income isn't enough to live on - hence the cutoff at 25 or 30 thousand. Above that people should pay, though not much at the lower end of the scale. I think that by the time you're making a hundred grand you're doing just fine and you should pay considerably and the more money you make above that that more you should pay. By the time you're making a quarter million per year I want that marginal tax rate to become dam near confiscatory, 80% will do just fine and its still 11% lower than the marginal tax rate under Republican Dwight David Eisenhower, President 1952-1960.

[.... callchet ....]

12. My plan has it phasing out at $50K. Under 50k would pay nothing.

[harun]

6. You aren't specifying what type of tax you are talking about. There are

income, capital gains, etc.

I know you are talking about Income taxes but I think people get in the habit of thinking this is the only way to get tax revenue when tax revenue comes in many different ways.

[ThomWV]

7. Capital gains is just income by another name

[harun]

10. If it is taxed at a different rate, it is different. Should it be different or

not is another discussion altogether.

[anonymous171]

9. Only if the money is used to help the lower classes. nt

[pampango]

11. It is one of the most important things we have to do in order to correct

the growing inequity in the distribution of income in the US. We can debate whether $50,000 and $250,000 are the important breakpoints, but it needs to be done.

Those making well over six figures should have a vested interest in paying their share to promote a fairer society thus protecting their "golden egg." You hear some rich folks saying this (undoubtedly a minority) and they make sense.

[NaturalHigh]

14. Yes, raising taxes on 250K+ is a good idea...

but 80% on any income level (as has been suggested in some posts) is insane.

[.... callchet ....]

16. In 1944 and 1945 it was 94%

[NaturalHigh]

18. I'm aware of that.

I still think it's ridiculous.

[.... callchet ....]

20. It will save the USA and get us out of debt, let us compete on

the world market with labor.

[lumberjack_jeff]

15. I question whether phasing out taxes on the bottom 70% of taxpayers...

... is realistic.

[.... callchet ....]

17. There is plenty of money at the top to pay for it.

Need to go back to the progressive tax rates of before Reagan. Tax rate used to be 94% at one time. We shouldn't be afraid to ask for what is right. Those that get the most benefits from the taxes should pay the most taxes. If you make under 50K you can't afford to pay taxes. No matter what they say.

[lumberjack_jeff]

21. I'm pushin' 50. I don't remember a time when 70% of taxpayers were exempt. n/t

[.... callchet ....]

19. The middle and low class have taken such a beating

that they are afraid to ask for anything. Let alone demand what is right.

[TBF]

22. Capital Gains is the place to start - that is where George Bush gave millionaires

the best breaks. Next, inheritance taxes - this is what puts people on such unequal footing from the get-go. After tackling those we move on to income tax & I'm ok with higher rates over 250K.

Some of us inherited nothing, took out major student loans & the higher incomes help to repay them. I'd love to see a society where education was free based on merit.

Also agree with phasing out at 50K.