Taxes on high-income earners would rise by nearly $1 trillion

[george_s]

What is unfair about Obama's plan is that the marginal tax rate for someone making $275,000 is the same as for someone making $27 million.

Why not lower the 39% down to 38%, but add another bracket of 45% for those earning over 1 million, and 50% for those earning over 2 million.

This would affect very few people, mainly just Wall Street hedge fund guys, celebrities, athletes etc., but would raise a significant amount of money.

Other advantages of the 50% bracket are:
- lower interest rate on municipal bonds (helps state and local govt)
- more money would be donated to charities

 

[SideShowBob]

Quote from pspr:

Democrats today are experts at holding a knife to their own throats. I don't get it. Can they be that stupid? Can they be that desperate? Can they not think rationally?

I can only conclude that they must hate the America that most of us know and love.

No, they are just bought and paid for by a different group than the GOP. Not really any difference other than who's writing the checks. None of them give two shits about the country, all they care about is themselves and getting re-elected. The dems are a bunch of idiots but I don't understand how anyone can look at the debacles in Iraq ($1 trillion?) and the Medicare Drug Plan and then say Republicans are any better.

 

[SideShowBob]

Quote from george_s:

What is unfair about Obama's plan is that the marginal tax rate for someone making $275,000 is the same as for someone making $27 million.

Why not lower the 39% down to 38%, but add another bracket of 45% for those earning over 1 million, and 50% for those earning over 2 million.

This would affect very few people, mainly just Wall Street hedge fund guys, celebrities, athletes etc., but would raise a significant amount of money.

Other advantages of the 50% bracket are:
- lower interest rate on municipal bonds (helps state and local govt)
- more money would be donated to charities

Once again you have violated the terms of use for Elitetrader. Please take your rational arguments and facts elsewhere, nobody on ET has any use for them.

 

[Scataphagos]

Quote from george_s:

What is unfair about Obama's plan is that the marginal tax rate for someone making $275,000 is the same as for someone making $27 million.

Why not lower the 39% down to 38%, but add another bracket of 45% for those earning over 1 million, and 50% for those earning over 2 million.

Ahhh, Progressivism... just what America need more of..

 

[george_s]

Quote from Scataphagos:

Ahhh, Progressivism... just what America need more of..

For most of the period from 1942-2003, the largest conservative party in Canada was the Progressive Conservative Party.

I am conservative on most issues, but believe in a graduated income tax system.

We have a graduated income tax for the bottom 99%, but a flat tax for the top 1%. If we are going to have a graduated income tax, it should be for everyone.

 

[SideShowBob]

Quote from george_s:

For most of the period from 1942-2003, the largest conservative party in Canada was the Progressive Conservative Party.

I am conservative on most issues, but believe in a graduated income tax system.

We have a graduated income tax for the bottom 99%, but a flat tax for the top 1%. If we are going to have a graduated income tax, it should be for everyone.

Once again you have violated the terms of use for Elitetrader. Please take your rational arguments and facts elsewhere, nobody on ET has any use for them.

 

[clacy]

I am a conservative as well and I do believe in a progressive income tax.

I agree that only politicians could lump someone making $250k with someone making $250mm