Harris tax plan - raising taxes on high earners

[Anonymous]

Anonymous wrote:My husband and I are both high earners and both totally fine with this. My husband grew up poor and was the first person in his family to graduate from college. Without public schools and social programs he never would have gotten out. We're not interested in pulling the ladder up behind us. We can easily afford some extra taxes.

OP here - great that you are fine with it, but I'm not! I feel that I pay way more than my fair share in taxes and not interested in paying even more. I'd much rather see major cuts in spending (I'm sure 20%+ of DoD spending is pure waste, if not more).

[Anonymous]

We would be subject to higher taxes. That is ok.

[Anonymous]

I hear you 16:23!

[Anonymous]

I am against. We should be talking about reducing tax rates and reducing spending and the budget. We cannot continue to tax everyone to pay for failed policy ideas

[Anonymous]

Anonymous wrote:This is what is wrong, IMO. DH and I are taxed out of half of our paychecks, while billionaires pay nothing! This is how, no matter the party, they screw us in the middle. Half of my paycheck is going to taxes, and no, it is not ok when the millionaires and billionaires pay nothing.
And then, I had to pay full in-state tuition for my kids, who did not even qualify for any aid from BCS. We don't earn that little, but we sure could not afford full rides, either. If my kids were allowed to take student loans, they would have been forgiven now. But they were not allowed to have that option.
No, it is not better for me under republicans because it is all the same for me, no relief ever. I don't qualify for any housing aid, meal programs, or student financial aid, but I sure can't afford an SFH that is the median price for the DMV.

You are not bright
For one most student loans have not been paid by Bidens plan

Trump will be a dictator what do you think that means in terms of taxpayers paying taxes?..

His stupid 201 crap comes back to bite low income and middle income as they expire. Tariffs also suck for you.

There is no trump is same . No5 only will Trump collect a dictator tax he will funnel all monies to him and rape the gov dry.

He’s already discussed privatization of all roads!,, how do you not understand how ba$ this will be ?

Betsey Devos will be in charge of privatization of maternity homes!

Project 2025 horrific

[Anonymous]

I will vote red because of this, much as I despise the Republican social platforms. I have worked too hard for my money to support the party which seeks to take even more of it.

-High earner

[Anonymous]

Anonymous wrote:Here's what we know so far:
https://www.nytimes.com/2024/08/22/us/politics/kamala-harris-tax-plan.html

"Ms. Harris would set the top marginal income rate at 39.6 percent, up from 37 percent. On top of that, she would also increase the rate on two parallel Medicare surtaxes to 5 percent from 3.8 percent for Americans making more than $400,000 and expand the income subject to one of them. Together, the Medicare and income proposals would create a top marginal rate as high as 44.6 percent."

Ouch. With state taxes, we'll be paying a marginal rate of greater than 50% taxes. That's just too much.

Harris also plans to: (i) increase corporate taxes and (ii) further increase the already ridiculous tax on corporate stock buy-backs. These ideas hurt everyone who owns stocks - that includes every single person with a 401/IRA/TSP.

Yikes.

It’s not too much. It’s been higher in the past and the economy.

Her policies are sound.

Now do the taxes she is going to cut…

[Anonymous]

Anonymous wrote:I will vote red because of this, much as I despise the Republican social platforms. I have worked too hard for my money to support the party which seeks to take even more of it.

-High earner

I have news for you "high earner", you won't be better off under the Republicans. Unless you are a literal billionaire, they have no interest in helping you. I am with you - part of the "get screwed no matter which party is in power" tax bracket.

[Anonymous]

Anonymous wrote:I doubt this will have the votes to get through, but conceptually I am fine with it.

It can under reconciliation if Democrats control the Senate (which they probably will)

[Anonymous]

Anonymous wrote:I will vote red because of this, much as I despise the Republican social platforms. I have worked too hard for my money to support the party which seeks to take even more of it.

-High earner

I get screwed by the SALT cap, so I’ll vote blue.

-High earner

[Anonymous]

Anonymous wrote:This actually sounds fine to me and I'm a high earner. We have to pay for important programs in this country including defense and infrastructure and social safety net programs that all make this a great place to live. This is all pretty marginal and still makes the US one of the most business friendly countries in the world.

I am fine paying a bit more in taxes especially given how incredibly well I've done personally in the last 3 years.

Great. Donate all you want. You don't speak for everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I will vote red because of this, much as I despise the Republican social platforms. I have worked too hard for my money to support the party which seeks to take even more of it.

-High earner

I get screwed by the SALT cap, so I’ll vote blue.

-High earner

+1 The largest tax increasing of my working life was under Trump

[Anonymous]

Anonymous wrote:I will vote red because of this, much as I despise the Republican social platforms. I have worked too hard for my money to support the party which seeks to take even more of it.

-High earner

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:This actually sounds fine to me and I'm a high earner. We have to pay for important programs in this country including defense and infrastructure and social safety net programs that all make this a great place to live. This is all pretty marginal and still makes the US one of the most business friendly countries in the world.

I am fine paying a bit more in taxes especially given how incredibly well I've done personally in the last 3 years.

Great. Donate all you want. You don't speak for everyone.

If only there was some way to have our policy preferences enacted into law. Well I guess there is for VA/MD residents!

[Anonymous]

Anonymous wrote:

Anonymous wrote:This actually sounds fine to me and I'm a high earner. We have to pay for important programs in this country including defense and infrastructure and social safety net programs that all make this a great place to live. This is all pretty marginal and still makes the US one of the most business friendly countries in the world.

I am fine paying a bit more in taxes especially given how incredibly well I've done personally in the last 3 years.

Great. Donate all you want. You don't speak for everyone.

Lol nor do you. I'm a high earner who is fine paying slightly more in taxes and I'm sure the 98.2% of Americans with an HHI of less than 400k will also be fine with me paying slightly more in taxes.

To the poster who is mad about her tax rate because millionaires and billionaires pay less -- I would join you in supporting a wealth tax that would ensure billionaires paid more!