If they don't get tax dollars from corporations and rich individuals, they are coming after YOU for the difference. HAVE YOU WOKEN UP YET? NYC Mayor Pushes for Tax on the 1 Percent to Fund Subway Fix THE ASSOCIATED PRESS (COLLEEN LONG) August 6, 2017, 1:42 PM CDT August 6, 2017, 2:27 PM CDT New York (AP) -- The mayor of New York City wants to tax the wealthiest 1 percent to fund repairs and improvements to the beleaguered subway system. The proposal comes as Mayor Bill de Blasio and Gov. Andrew Cuomo, both Democrats, continue to squabble over responsibility for paying for repairs to the nation's largest transit system that has seen growing delays, mechanical failures, power outages and even derailments. Metropolitan Transportation Authority Chairman Joseph Lhota recently unveiled an emergency plan to stabilize the system. The governor offered to split the cost of the plan with the city, but the mayor refused to commit money to support it... The mayor's tax plan is meant as a long-term solution, not a quick fix, he said. It aims to generate nearly $800 million annually with the bulk of the money going toward capital upgrades to subways and buses, and must be approved by state lawmakers. A formal announcement was expected Monday. "Instead of searching for a quick-fix that doesn't exist, or simply forking over more and more of our tax dollars every year, we have come up with a fair way to finance immediate and long-term transit improvement," de Blasio said in a statement Sunday. The tax would increase the top income tax rate from about 3.9 percent to 4.4 percent for married couples who make more than $1 million and individuals making more than $500,000, city officials said. It would affect about 32,000 of New Yorkers filing taxes in the city, or just less than 1 percent, officials said. ... https://www.bloomberg.com/news/arti...s-for-tax-on-the-1-percent-to-fund-subway-fix
Tax "Reform" ? Or, Tax Cuts for the Rich and Multinational Corporations? Remember, if the rich and corporation don't pay it, THEY ARE COMING AFTER YOU FOR THE DIFFERENCE.
So Nitro, do you support Bannon's idea of a 45% marginal rate on extremely high earners, eg >$1mill/year?
Tax law is complicated, and not understanding and unpacking what is being said carefully will lead to being tricked. That said, credit where credit is due, nobody saw it coming and left people scratching their head. IMO it is the right policy - it just has to be water tight. Here is a reasonable unpacking of it. Also, it will never pass:
In any progressive , bracketed income tax structure the U.S. has ever had or is ever likely to have, I have a strong preference for personally paying the top rate on most of my income.
So do it. You are able to pay as much as you want, Piezoe. How much over your burden have you elected to give?
What attack? Piezoe stated he had a strong preference for paying the top rate on most of his income. I simply pointed out that, if he felt that strongly, there's nothing from stopping him from doing so. I asked him so I could see if he was just putting words out there or actually supported his view with actions.
Possibly the full implication of this: "In any progressive , bracketed income tax structure...," may have escaped you. What you are suggesting is something we assume is permissible* outside of the tax structure, but I have no interest in that. _________ * I guess a person who wants to unilaterally donate above their fair share could just light a match to the IRS refund check that covers the excess amount they paid.