- Joined
- Oct 18, 2011
- Messages
- 4,183
- Reaction score
- 2,151
- Location
- Raleigh NC
- Gender
- Male
- Political Leaning
- Libertarian
Re: Romney's tax rate is only half as high as the middle class pays
1. Okay, 5% revenue increase from income tax, that's about 55 billion dollars
2. Historically, raising capital gains causes neutral or declined revenue because people will stop selling houses and not move money
3. You want an 11% increase in all incomes over 106k? It sounds extreme to me.
3a. Does this mean you want FICA applied to the general fund after it pays for retirements or do you want everyone's SS distributions to go up?
Regarding the corporate idea, that is a large shift that is debated elsewhere extensively and I see a huge derailment if I get into the specifics.
EDIT: wording
I favor three things
1) all federal income tax rates should go up five points
2) stop applying discriminatory preferences for different sources as income and simply tax all money an individual makes as income according to the standard rate applicable on the progressive chart
3- stop giving the top 6% a break on FICA and pop the cap while freezing benefit levels
I do not have a proposal for corporate taxes but would endorse this from Senator Bernie Sanders of Vermont
Sen. Bernie Sanders: End Tax Breaks for Profitable Corporations
1. Okay, 5% revenue increase from income tax, that's about 55 billion dollars
2. Historically, raising capital gains causes neutral or declined revenue because people will stop selling houses and not move money
3. You want an 11% increase in all incomes over 106k? It sounds extreme to me.
3a. Does this mean you want FICA applied to the general fund after it pays for retirements or do you want everyone's SS distributions to go up?
Regarding the corporate idea, that is a large shift that is debated elsewhere extensively and I see a huge derailment if I get into the specifics.
EDIT: wording
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