Bernie Sanders: "A 90% Tax Rate isn't too high."

MCKINLEY wrote:

Robin Hood wrote:http://www.newsmax.com/Politics/Bernie-Sanders-tax-wealthy-90-percent/2015/05/27/id/647105/

Bernie wants people to start paying higher taxes, except most exceptionally wealthy people have ways of finding loopholes. Whats the cut off for "rich" in salary to pay 90 percent taxes?

It will end up being 200k which means you bring home 20k after making 200.

Idiot. Clearly you have absolutely no clue as to how our tax system works.

90 percent would be a marginal tax rate, and the highest one in a progressive tax system.

That means every dollar one makes after one million dollars (or whatever Bernie has in mind for the highest tax bracket) will be taxed at 90 percent. If the tax bracket below is 500,000 dollars, taxed at 50 percent, that means every dollar made from 500k-1million is taxed at 50 percent, and so on. This is how tax brackets work.

This is how our income tax system has always worked, and how it always will. I think 90 percent is too high of a marginal tax rate, even for the richest Americans, but you're making it sound as if Bernie wants to rob the rich till they're poorer than the poor. Absolute idiot. Go back to 6th grade and retake social studies.

Uioj wrote:

MCKINLEY wrote:

Bernie wants people to start paying higher taxes, except most exceptionally wealthy people have ways of finding loopholes.

Are poorer people not allowed to find loopholes for themselves too?

Sure...all they have to do is give their accountant a call.

Bruinboy wrote:

Uioj wrote:

Are poorer people not allowed to find loopholes for themselves too?

Sure...all they have to do is give their accountant a call.

And their tax lawyers.

The Gallant Pig-Man wrote:

Yeah, much better to elect someone like Trump, who has experienced bankruptcy before and is running on fiscally sustainable policies such as building a giant wall along the southern border, identifying and deporting millions of illegal immigrants, and maybe starting a war.

.

Anyone who thinks Trump's experiences with bankruptcy are a bad thing is an idiot. Bankruptcy is not a sign of bad business skills. In many ways, it's the opposite and would indicate that Trump would be an excellent candidate if you want the government to be more financially efficient.

Bruinboy wrote:

Uioj wrote:

Are poorer people not allowed to find loopholes for themselves too?

Sure...all they have to do is give their accountant a call.

And what's so difficult about that? Also, last time I checked, an accountant wasn't required to find loopholes. I know plenty of people that do their own taxes.

Rich people aren't the problem. Lazy, ignorant poor people are.

Libtard Roy is same idiot who had his nose up Hugo Chavez' ass and sang his praises. Yup, both you retards should get a hotel room.

Idiots wrote:

The Gallant Pig-Man wrote:

Yeah, much better to elect someone like Trump, who has experienced bankruptcy before and is running on fiscally sustainable policies such as building a giant wall along the southern border, identifying and deporting millions of illegal immigrants, and maybe starting a war.

.

Anyone who thinks Trump's experiences with bankruptcy are a bad thing is an idiot. Bankruptcy is not a sign of bad business skills. In many ways, it's the opposite and would indicate that Trump would be an excellent candidate if you want the government to be more financially efficient.

Not a Trump fan, but you're right. If you own, say, 50 businesses, and two of them are bleeding money, would you continue to bleed money? No, you would clear the failing businesses off of your balance sheet. It's no different then clearing poorly performing stocks and bonds from your portfolio.

I thought I just mentioned he'd make it 200k and above. Thats probably what it would be because hes insane. He's not going to make the cutoff for the top margin that high at all . Hes a socialist.

He'll declare anyone making over 200k is rich.

Obama thinks its around the same when he talks about whos rich. Don't think Bernie would be any different.

Also, Bernie is about payback. He's going to throw half the "rich" into prison out of some mad ideology. He's also about taking private property away. He doesn't believe anything qualifies as private except maybe the bedroom of two homosexuals. The govt will be nationalizing everything, while Bernie sits in the white house trying to get his hair to not look like a riot on the top of his noggin '

If you vote for Bernie, it would be worse than electing a woman.

Bernie is red wrote:

If you vote for Bernie, it would be worse than electing a woman.

No f'ing way. Bernie'd be better than any female. Actually, it ain't the Dems per se ruining our country .. it's the females doing it with their compassion and their empathy. Who the hell let em out of their cages?

Sanders wants to introduce a bill targeting "outrageous profits" of drug companies: hill.cm/kzV6EU7 pic.twitter.com/

This guy is sounding more and more like an old school General Secretary of the Central Committee USSR..... What's next? 5 yr plans, appoint czars (I know Barry is already doing this), and cult of personality?

Randy Oldman wrote:

If you think most poor people have 60" TVs you're a crackpot. There's people out there who have to work 2 or 3 jobs just to feed their kids.

I used to work for a company that develops, owns, and manages affordable housing (LIHTC and Section 8). I would do walkthroughs of properties we were considering acquiring, or that we owned already and were planning to rehab. A Section 8 apartment that didn't have a giant flatscreen TV in the living room was an anomaly.

I'm not judging--I'd rather be TV free and living my life than living their life with the nicest TV ever--but the "poor family with a sweet TV" stereotype is not unfounded.

Back in the 70's, a peanut farmer got a "windfall profits" tax from those evil oil companies. Don't get me started on his idiotic Olympic boycott.

Anyone who discusses the Eisenhower 90% MTR as an argument for higher taxes today outs themselves as a voice that can safely be ignored. That 90% tax rate came bundled with so many exemptions and credits that basically no one actually paid that rate on a single dollar they earned.

S8 Developer wrote:

Randy Oldman wrote:

If you think most poor people have 60" TVs you're a crackpot. There's people out there who have to work 2 or 3 jobs just to feed their kids.

I used to work for a company that develops, owns, and manages affordable housing (LIHTC and Section 8). I would do walkthroughs of properties we were considering acquiring, or that we owned already and were planning to rehab. A Section 8 apartment that didn't have a giant flatscreen TV in the living room was an anomaly.

I'm not judging--I'd rather be TV free and living my life than living their life with the nicest TV ever--but the "poor family with a sweet TV" stereotype is not unfounded.

Randy, are you the pinko Brit with bad teeth? Anyway, when Uncle Sam pays 90% of the rent, you see very nice TVs in the apartments and iPads and video gaming consoles. I always wondered how they had that stuff, but I'm a capitalist and got my rent payment like clockwork.

Cracky wrote:

Randy Oldman wrote:

If you think most poor people have 60" TVs you're a crackpot. There's people out there who have to work 2 or 3 jobs just to feed their kids.

No, a crackpot is someone who thinks that working 80-120 hours per week is not enough to feed your kids. How many kids does your example family have, 40???

2 or 3 jobs is not the same thing as 80-120 hours.

Seriously, how stupid are you?

A corn wrote:

Bernie Sanders will bankrupt the nation within a term. I'm tempted to vote for him and if he wins we can finally start a new country again after the place goes broke.

It's a horrible country now after 8 yrs of Obama in washington. Don't forget he was a Senator too. The economy has never been good since that clown arrived.

It's not coincidence. It's not Bush. It's not the Chinese. It's Barack Obama and the fact that he's more succsssful at stupid sh&t like naming mountains than bringing back an economy.

Apologize if you voted for Obama.

You sound very balanced and informed.

MCKINLEY wrote:

Bernie wants people to start paying higher taxes, except most exceptionally wealthy people have ways of finding loopholes. Whats the cut off for "rich" in salary to pay 90 percent taxes?

It will end up being 200k which means you bring home 20k after making 200k.

Could you possibly be that stupid? Is it even possible?

Bruinboy wrote:

Uioj wrote:

Are poorer people not allowed to find loopholes for themselves too?

Sure...all they have to do is give their accountant a call.

you're probably joking, but you shouldn't be. the IRS has a program called VITA where people making under $50K can have their taxes prepared free of charge. im a CPA and volunteer for this program. there are a lot of qualified people volunteering for VITA.

also, what is a loophole? seriously. what counts as a loophole? its just a buzzword people hear on the news and throw around like it means something. most people cant name any specific situation that they consider a loophole. all they know is that it's something rich people supposedly get but they can't

many credits/deductions are not available to the higher earners, whereas i cant think of a single credit/deduction that is only available to the wealthy (granted some are more difficult for low earners to realize- ex. mortgage interest)