How much is Kerry planning to increase taxes on the $200,000+?

[napi21]

I know he said he was going to roll back the shrub tax cut (which i think was 2%) but I haven't heard that recently.

I want to refute a LTTE in our paper, but I want to be sure of my facts before I put them in print!

[calico1]

1. I did not think he was going to increase taxes.

I thought he only planned on rolling back the big tax cuts for the rich.

[PE]

4. Look here as well.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=132&topic_id=996111

[napi21]

6. I will listen to the 2nd debate again, but I'm pretty sure, when he

was answering the question about "Would you pledge that you WILL NOT incease taxes on anyone with income under $200,000" that Kerry's answer was YES, I pledge NEVER to increase taxes....." But that's not my question. I can find the historical rates, but I haven't heard the "I will ONLY roll back the shrub tax cut on the rich" statement recently.

[Brotherjohn]

7. Agree. I imagine one day, a Repub president will abolish income tax...

... and outlaw the IRS.

Then, when their opponent tries to say we need SOME income for the federal government to function, they'll accuse him/her of "trying to raise taxes".

[AP]

2. Google "historical income tax rates" or something like that.

There's a site which lists the income tax brackets and rates over time. I found it once by googling.

From memory, the Clinton rate on the top bracket was 2% higher.

200k is not the threshold for the top bracket, I believe. I think that includes part of the second highest bracket too.

[Bandit]

10. 2% higher than what?? In Ike's time the rich paid almost 90%

Kennedy brought the rates down to the 50% range then Reagan brought it down to 38%. Clinton never had it even that high.

[AP]

11. Than the Clinton rates -- something between 33 and 36% on income over

280, and 25-27% on income over 150k.

You really don't remember the Clinton rates?

[Blue Wally]

15. No

Kennedy moved it down from 92% to 70% as the top rate.

Carter made it 50% on "earned income" and 70% on "unearned income". If you were a rock star or a baseball player, your money was "earned" and you only paid 50%. If you were a sole proprietor or a partner, your money was "unearned" and you were taxed at 70%.

Reagan made it 50% for everybody in 1982 then lowered it to 36% in 1986. To make up for some money, he phased out the individual, spouse, and dependent exemptions at a certain point which made a "bubble" where some people were paying 39.6%.

Clinton eliminated the top of the "bubble" to make the peak rate 39.6% on everybody.

I think the top rate is 35% now and is scheduled to fall to 33%.

Raising the rate from 35% to 39.6% on incomes over $200K will not bring in enough money for balancing the budget, social security bailout, and single payer health care.

You have to raise taxes on the middle and upper-middle to get enough money.

[sandnsea]

20. single payer health care

Kerry is not proposing single payer health care. He's proposing letting everybody buy into the federal plan that congress and federal workers already have. And some other plans to reduce premiums. But not single payer.

[Blue Wally]

28. We need single payer

Just expand Medicare to include everybody. Pay for it with a Value Added Tax and use the current Medicare bite on the FISA to help bail out social security. We really need to reduce the admin overhead we have with all of the different insurance companies.

[TahitiNut]

18. Here's the Top Marginal Income Tax Rates historically.

[PE]

3. I had similar question. Good replies here.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x1022470

[robbedvoter]

5. Just remove the cut - back to Clinton levels

[flpoljunkie]

27. Only for those whose income is more than $200,000.

[GR]

8. Go To This Link On JohnKerry.com....It Details All His Spending...

and revenue growth plans in detail. His tax plan is detailed, but in answer to your direct question, he's rolling back tax breaks for the two top brackets to Clinton levels...

http://www.johnkerry.com/pdf/economic_plan.pdf

[Bandit]

9. He isn't going to increase them at all

He is going to roll back bush*'s tax cut is all. they will be exactly the same as they were when Georgie rode into town.

[FatSlob]

12. Rolling back=raising taxes.

I favor further tax cuts to everybody. I pay too damn much. Between Federal Income, FICA, Medicare, State and Local taxes, real property tax, automobile tax, gas tax, sales tax and all the others, I am overtaxed. The amount of money that the various levels of government take from us is confiscatory and wrong.

[fob]

13. What level do you feel is "acceptable"?

Can you list all the services that the current "confiscatory" level pays for?

How much is trash pick up worth to you?
How about water treatment?
How's your road? Care to pave and maintain it yourself?
Is your house constructed according to certain, well-tested standards? How much would you like to get back if the building department was abolished and your ability to determine if proper construction standards were followed in your next home purchase?

I'll have more questions once you publish the entire list that your "confiscated" taxes pays for.

[FatSlob]

14. Some answers

Can you list all the services that the current "confiscatory" level pays for?

How much is trash pick up worth to you?
How about water treatment?
How's your road? Care to pave and maintain it yourself?
Is your house constructed according to certain, well-tested standards? How much would you like to get back if the building department was abolished and your ability to determine if proper construction standards were followed in your next home purchase?

I pay for my own trash pick up on a per-can basis. I pay for my water treatment, via water bills. Roads are a government job, so taxes are appropriate. I would prefer building departments be abolished, and that buyers and builders hire their own experts.


on edit. I pay well over 40% of income to taxes. That is way too much. More appropriate would be 20%.

[fob]

16. Since you didn't make the list, I'll ask the follow-up this way;

Since you want to reduce your tax burden by 50%, what services will you do without?

How about the Post Office? Of course if you live in a rural area that 37 cent stamp won't cover the costs of a private company. Maybe using UPS at $5 a pop is preferable?

How about schools? Maybe half of the schools in your area should be closed?

The top marginal tax rate when Clinton left office was 39.6% and overall everyone did better than at today's lowered rate.


I would prefer building departments be abolished, and that buyers and builders hire their own experts.

Are you SURE about that? Who certifies the "expert"? Not that you can't build a house if you aren't a licensed engineer, but with your plan, who defines "expert"? Who enforces the rules equally on each builder's "expert"?

I understand your basic premise, but it leaves out a lot of the complexities to just say, "I pay too much". There is a huge chunk of the defense budget that could be reduced if someone had the cajones to open the department up for review and spend the money from the ground up (troops first THEN the magic weapons systems if money permits and needs require it).

[FatSlob]

17. I'm certain about the building dept.

As a Realtor, I have seen the incompetence of the building departments. They are inspectors for the .gov because they could not cut it in the commercial world. Inspections should be contract law, let a private association certify them, NAHI or ASHI could expand into the field, I bet there is already an engineer's association that would be happy to do it. My local schools are spending well over $8K per student, they could spend a lot less. They don't need three new buildings for over $65,000,000. I shouldn't have to pay $.45 a gallon of gas in taxes. Tobacco tax should be abolished, e-check and it's $20 fee should be abolished. We should look closely at all branches of the Federal .gov and cut as much of it as practicable.

[fob]

19. Aside from the sweepingf generalization, I'm surprised a realtor

would want to disband building departments. If everyone hired their own "expert", how could you have confidence in what you are representing to others?

You shouldn't have to pay 45 cents a gallon gas tax? What is acceptable, 22-1/2 cents?

http://www.chron.com/cs/CDA/ssistory.mpl/metropolitan/2816081

"Texas has the most creative and far-reaching legislation to increase the use of toll facilities," said Ron Marino, vice president of public finance for Citigroup Global Markets. Marino said Texas has only been able to fund 37 percent of needed transportation projects in recent years, prompting the intense desire for toll revenue.

The policy has drawn the eyes and ears of officials in numerous other cash-strapped states who are struggling with how to raise more money for transportation projects. The federal gasoline tax hasn't gone up in more than a decade, same with the fee on motor fuels in most states, including Texas.

end snip

The gas tax isn't keeping up with needed projects and if you could have it you would cut it further. The result apparently could be an increase of toll roads. Do you like that better?

As for the gas tax, there are hybrids and electric cars out there that would eliminate you paying that at all! Of course the tolls would still hit ya.

We should look closely at all branches of the Federal .gov and cut as much of it as practicable.

On THIS we agree. This is what bush* should have done, clarify priorities, FUND them, look for waste and elminate it, and put some in the damn LOCK BOX for ???

[FatSlob]

22. Yup, building depts. should go. I said how they'd be certified earlier.

Gas tax could be cut in half. That would be a good start. I am of the opinion that raising taxes is almost always bad. I hate taxes.

[fob]

23. I am of the opinion that raising taxes is almost always bad. I hate taxes.

I guess there's no point in trying to discuss the topic if your basing your argument on a deeply held opinion regardless of facts.

I wish you much success anyway!

[FatSlob]

24. It is deeply held. Of course there are times when it is good.

Usually, more taxes are bad. I know that some are needed, but paying 40% is too much. I would be thrilled to pay 20%

[w4rma]

25. Where did you get that number 20% from? Is it arbitrary?

Also if your income is high and we are *already* running a humongous deficit who will make up for the taxes that were reduced on you?

Btw, I love your sig, FatSlob.

[sangh0]

26. Of course it's arbitrary

There's no argument being presented to support, just as there is no argument presented to support the idea that our taxes are too high, or that taxes are "confiscatory"

It'a just the usual rnc assertions that have no basis in fact.

[sandnsea]

21. That's a tax increase

It was a stupid argument when it was being made for Dean and it's a stupid argument now. Kerry will raise taxes on the wealthy, the top 2%, and he makes no bones about it.