How does Biden's call for 39.6% highest tax rate affect the tax bracket(s) chart?

[Anonymous]

https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/11/fact-sheet-the-presidents-budget-cuts-taxes-for-working-families-and-makes-big-corporations-and-the-wealthy-pay-their-fair-share/#:~:text=The%20President%27s%20Budget%20restores%20the,Loopholes%20for%20the%20Very%20Wealthy.

The President’s Budget restores the top marginal tax rate to 39.6 percent for single filers making over $400,000 a year and married couples making more than $450,000 per year.

Does this mean the 37% category turns into 39.6 and the MFJ range lowers from 731k to 450k? And the other brackets stay the same?

[Anonymous]

This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

[Anonymous]

Anonymous wrote:This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

Boohoo for you.

When the Republicans come after your health care and Social Security, don't cry to us.

[Anonymous]

Biden's doing a fantastic job of making sure that everyone hates him.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

Boohoo for you.

When the Republicans come after your health care and Social Security, don't cry to us.

NP. Since they haven't done either why would I worry about imaginary problems.

I doubt this new tax rate will pass the house so it's DOA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

Boohoo for you.

When the Republicans come after your health care and Social Security, don't cry to us.

Taking a wild guess that PP is gainfully employed and not on Obamacare and has healthy retirement savings.

[Anonymous]

Anonymous wrote:This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

So, you have very little integrity?

You do realize that in order for a married couple to be in the top bracket in this proposal they probably need to gross over $500,000 a year? And that the rate is only marginal? And that the USA has one of the lowest income tax rates in the world?

But, a few extra dollars in your pocket is enough to compromise your social values?

You disgust me.

[Anonymous]

Anonymous wrote:Biden's doing a fantastic job of making sure that everyone hates him.

Whatever are you going on about? This is not an unpopular proposal. It hardly affects anyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This makes me ill. I disagree with so many of the Republican party's social platforms, but I hate the democrats' thirst for my money, and thus will continue to vote straight R in every election.

Boohoo for you.

When the Republicans come after your health care and Social Security, don't cry to us.

Taking a wild guess that PP is gainfully employed and not on Obamacare and has healthy retirement savings.

Then they shouldn't be such a pig.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Biden's doing a fantastic job of making sure that everyone hates him.

Whatever are you going on about? This is not an unpopular proposal. It hardly affects anyone.

That's an idiotic comment. It affects quite a number of people, and I'd imagine a large number on this board. There are quite a few posters on DCUM who have HHI above $450K who'll feel the 2% increase. And I imagine some unhappy corporates and donors who will withhold support. Biden is trying to win back the youth, who he has lost.

I am already opposed to Biden's support of the genocide and was not going to vote for him. This seals the deal.

[Anonymous]

As part of a high earning couple, I’m ok with raising marginal tax rates but it really pisses me off that we pay significantly more in taxes than if we weren’t married. I get it, “boo hoo you make a lot of money.” AND it feels unfair. I ran the numbers and we pay $20k more in taxes every year than if we were divorced. Would love if Biden proposed eliminating the marriage penalty along with raising taxes on the rich.

[Anonymous]

Anonymous wrote:Biden's doing a fantastic job of making sure that everyone hates him.

IDK under Democrats

$190K-$413K was 33%

Under Trump

$243-$413 was 35%

That was okay with you but this minor change to the top, top, top % is "making you hate"

Hmm

Is that tribalism or stupidity?

[Anonymous]

Anonymous wrote:As part of a high earning couple, I’m ok with raising marginal tax rates but it really pisses me off that we pay significantly more in taxes than if we weren’t married. I get it, “boo hoo you make a lot of money.” AND it feels unfair. I ran the numbers and we pay $20k more in taxes every year than if we were divorced. Would love if Biden proposed eliminating the marriage penalty along with raising taxes on the rich.

You'd have 2 houses to fund. That puts more money into the economy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden's doing a fantastic job of making sure that everyone hates him.

Whatever are you going on about? This is not an unpopular proposal. It hardly affects anyone.

That's an idiotic comment. It affects quite a number of people, and I'd imagine a large number on this board. There are quite a few posters on DCUM who have HHI above $450K who'll feel the 2% increase. And I imagine some unhappy corporates and donors who will withhold support. Biden is trying to win back the youth, who he has lost.

I am already opposed to Biden's support of the genocide and was not going to vote for him. This seals the deal.

Sigh. You pointed and three fingers point back at you.

What's idiotic is asserting that it "affects quite a number of people." It doesn't. It's WELL under 1% of Americans. The 99th percentile of earners for 2023 was $407,500. That's GROSS. In order to be affected by this proposal, which affects TAXABLE INCOME, a married couple would need to gross north of $500,000 since they'd have deductions etc. to reduce their taxable income.

So call it ... maybe 2 million people, maximum. And not all of those would be all that put out over having to pay a little more in tax at all, especially if the alternative was to vote for social policies they abhor.

Voter turnout in 2020 was 155 million (a 30-year high).

So, no, it's not a lot of people.

And your disgusting reference to "genocide" tells me that you're a vapid hysteric who shouldn't be allowed anywhere near a voting booth. You vile, selfish anti-Semitic piece of trash.

[jsteele]

https://www.dcurbanmom.com/jforum/posts/list/1201121.page