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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Despite dumping larger amounts of money proportional to 30 years a go into public schools and social programs they are much lower quality because of the influx of poverty and non English speakers coming in from illegal immigration. This is something very different than 30 years ago

Funding for public education has fallen big time in many red states who are shocked at poorer results. Immigrants are just a convenient scapegoat.

If Fairfax county it's increased and we've had surpluses but 7 high schools are failing because of English learners immigration and poverty from illegal immigration. There is a recent report on this.

Anonymous wrote:

Anonymous wrote:Well I have hard life in America was pretty perfect circa 1958, so let's go with that highest marginal tax rate.

https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_States#:~:text=For%20tax%20years%201944%20through,tax%20years%201965%20through%201981.

91%

Nearly no one paid that. You cite a period of time when legitimate tax shelters abounded and you could generate deductions that were orders of magnitude larger than the economic investment. Investments that required a 5000 pay in could easily generate 50,000 in deductions. And these were available to anyone, not just the Ford and Firestone families.

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.

Yes, PP, you should pay for all the undocumented migrants coming in the country too. They will keep on coming and you continue to work hard for them.

Anonymous wrote:

Anonymous wrote:Make all earned income subject to the social security tax and not just the first $168,600. That would fix a lot.

The reason you cannot do that is then their benefits would soar too. And if you object to THAT you just completely changed SS into a pure welfare program and any semblance of bipartisan support for it (which is already tenuous) disappears.

Anonymous wrote:Not to mention if you are going to make some argument that the resources you consume should be proportional to the taxes you pay, most of MAGA should be cut off from all services since they’re mostly a bunch of piss-poor deplorable white trash people who spend an inordinate amount of time plotting how they can get disability benefits. I speak from personal experience, having interacted with these types of people in SW VA, eastern Tennessee and West Virginia.

Anonymous wrote:This hurts w2 workers the most.

Anonymous wrote:

Anonymous wrote:

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.

Despite dumping larger amounts of money proportional to 30 years a go into public schools and social programs they are much lower quality because of the influx of poverty and non English speakers coming in from illegal immigration. This is something very different than 30 years ago

Funding for public education has fallen big time in many red states who are shocked at poorer results. Immigrants are just a convenient scapegoat.

Anonymous wrote:Good God! They just added a rediculous tax so when you're buying a house you can help someone poorer this. You are buy one too.

So stupid this is going to make everything worse!

Anonymous wrote:

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.

Despite dumping larger amounts of money proportional to 30 years a go into public schools and social programs they are much lower quality because of the influx of poverty and non English speakers coming in from illegal immigration. This is something very different than 30 years ago

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.