You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #88: We need a NEW income tax schedule for the rich...that goes back to the OLD norm [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
OlympicBrian Donating Member (456 posts) Send PM | Profile | Ignore Sat Nov-13-10 12:35 AM
Response to Original message
88. We need a NEW income tax schedule for the rich...that goes back to the OLD norm
Edited on Sat Nov-13-10 12:36 AM by OlympicBrian
The tax cuts for the rich are a big joke on America.

Federal taxes have fallen for the rich to the lowest rate in decades: /

Based on the following marginal federal income tax bracket schedule for an individual, and income demographics, can someone calculate a total revenue generated amount for 2010? Please use the 2010 marginal tax bracket schedule to calculate tax amounts up to the listed bracket cutoffs.

These brackets and rates are "off-the-cuff"--so I truly don't know what to expect. I'm just curious to see what kind of revenue we would be talking about, given the following schedule:

$373,650+ income = 35 pct tax
$500,000+ income = 40 pct tax
$1,000,000+ income = 50 pct tax
$5,000,000+ income = 60 pct tax
$10,000,000+ income = 70 pct tax
$100,000,000+ income = 80 pct tax

In addition, treat most capital gains as ordinary income.
Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC