Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

LiberalFighter

(50,872 posts)
3. Taxes are not increased on the total income.
Sat Dec 22, 2012, 02:21 PM
Dec 2012

And I was encouraging pushing this out there for the Republicans to agree to the original proposal. With them being pushed by those in that income range calling and putting heat on the Republicans to make it happen.

Personally, I think there should be additional tax brackets besides the 6 currently active. As a suggestion: A tax rate for income from $250k to $500k, a higher tax rate for income from $500k to $1 million, a higher tax rate on income from $1 million to $5 million, and a higher one for income above $5 million.

Remember, taxes are only on the taxable amount not the gross adjusted income. In your case you will have income that is not taxed, income taxed at 10%, at 15%, 25%, 28%, 33%, and possibly some at 35%. A married person would need to have at least $236,951 in income before they would start paying their first dollar at the 33% rate even though the tax bracket begins at $217,450. More if they have other dependents and itemize their deductions.

If all of a person's taxable income was taxed 43% then I could see your point. But my incentive was for people in this range to call their representatives and get them off the kettle if they were to put this out.

To the fairness bit. It can also be said that it is not fair that one segment of the population has more of their income exempt from taxes via itemized deductions than others.

The key concept there is "for President Obama to push" pscot Dec 2012 #1
I'm in that tax bracket and wouldn't support this taught_me_patience Dec 2012 #2
Taxes are not increased on the total income. LiberalFighter Dec 2012 #3
It's not 'fair' that you pay 43% in taxes on that portion of your income above $400,000/year? When coalition_unwilling Dec 2012 #4
I'm in the 250-400k bracket taught_me_patience Dec 2012 #5
When Money Is Actually Used to Help Children In Poverty... DAVEDCHICAGO Jan 2013 #20
I understand this perspective, but I'll gladly trade places with you. I'm just a lowly teacher world wide wally Dec 2012 #6
You might want to rethink that taught_me_patience Dec 2012 #7
That's the reason why... cheezmaka Dec 2012 #8
Is this a Democratic board or some sort of Adam Smithian-Ayn Randian coalition_unwilling Dec 2012 #10
Yeah I have a problem with it and stated why taught_me_patience Dec 2012 #11
Most high-earning Dems accept in principle the idea of a high marginal tax rate. I guess coalition_unwilling Dec 2012 #12
"high-earning Dems accept in principle..." - except maybe they DON'T - that's what we're learning. downandoutnow Dec 2012 #15
Similar situation panAmerican Dec 2012 #13
"we have almost no retirement savings at all well into our mid 30's" -- downandoutnow Dec 2012 #14
Amen to that! burrowowl Jan 2013 #16
But it's OK to raise taxes on the bracket just above yours? mainer Jan 2013 #17
I strongly believe that if you raise taxes, you should raise them on everbody taught_me_patience Jan 2013 #18
I would have no problem with that. democrattotheend Dec 2012 #9
everyones FIRST 250k (or 400k ) of income is taxed exactly the same at the lower rate. Sunlei Jan 2013 #19
The point is...................... not how much you paid... How much do you have left? world wide wally Jan 2013 #21
Latest Discussions»Retired Forums»2016 Postmortem»Hey a suggestion for thos...»Reply #3