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Bad News If You Make $150,000 to $300,000: Higher Taxes for Many (wsj.com)

Posted by msmash on from the shape-of-things-to-come dept.

From a WSJ report: If President Donald Trump sticks to what he has said, Americans earning between $149,400 and $307,900 are most likely to see an increase in their taxes as a result of tax reform (Editor's note: the link could be paywalled). Those figures come from a recent study by the Tax Policy Center, a nonpartisan group in Washington, and are based on Mr. Trump's statements and proposals. The study concludes that nearly one-third of about 19 million households in that income range could see tax increases averaging from $3,000 to $4,000 a year. By contrast, less than 10% of households earning the least or the most -- below $25,000 or above $733,000 -- would owe more after a tax overhaul. Over all, the study found that about 20% of taxpayers would owe more after tax reform than before it. The issue of tax reform's winners and losers has resurfaced after top congressional Republicans and the Trump administration released a set of broad principles for tax policy on Thursday containing few details.

2 of 483 comments (clear)

  1. Yuo have to pay high taxes for big government by Wizardess · · Score: 0, Troll

    So you wanted big government, Bunky. What makes you think it comes for free? Where do you think most of the taxable resources exist? Visit IRS.GOV and hunt around. The answer will annoy you no end, especially with the highly artificial definition of "poor" that we live with. (Where else in the world do officially poor people have AC, a car, a cell phone, and big screen TVs as a matter of course?)

    Given that you and I are the income targets for modest tax increases that can greatly increase the tax revenues maybe it is time to rethink this overwhelming drive we seem to have for ever bigger government - especially since we are paying for so much government and the most expensive portions of it cannot do their jobs. ObamaCare is a failing farce. The Department of Energy, charged with making the US independent of foreign oil, has not managed to do this in its entire time in existence. And so forth.

    If you do not want to pay as much in taxes then get down and dirty working to make our government smaller. Maybe create a bounty program for our legislators. They personally get checks for 10% of every cut in the size of government in lieu of their salaries. Think out of the box. Think small government.

    {^_^}

  2. Re: Death to middle class by jpaine619 · · Score: 0, Troll

    150k/year should be enough to pay for all of that. I make half that and I can easily let the wife stay home with the kids, own a house, pay off and have 2 cars, go out to eat and do day trips and vacations with 3 kids and still put ~500-1000/mo in savings.

    You are a fucking communist. Seriously.

    "I can do this, so everyone else should too". How about you go FUCK YOURSELF?

    You leftie cocksuckers love diversity, until the moment it's economic diversity. YOU ARE A CUNT.