Posted on 07/02/2017 6:19:38 PM PDT by be-baw
Steve Bannon is causing a stir inside the administration by pushing an idea that's anathema to most Republicans: raising taxes on the wealthiest Americans to pay for steep middle and working-class tax cuts. (Some officials who've heard Bannon's idea think it's crazy, but the President's chief strategist believes it's a potent populist idea.)
Bannon has told colleagues he wants the top income tax bracket to "have a 4 in front of it." (The top bracket is currently 39.6% for Americans who earn more than $418,400.)
It's classic Bannon – pushing a maximalist position that's reviled by the Republican establishment.
I say just put a 50% tax in place for all of those limousine liberals (Warren Buffet, Bill and Hitlery, all of Hollywood, etc.) who are always saying they’d pay more. You know, the 1%ers that are always condemning the 1%. Let me write some big fat cheques are put their money where their mouths are.
How about “paying for tax cuts” by actually spending less?
It’s excellent PR to raise taxes on the rich. Doesn’t have to be much, but once you do it, the media loses a lot of power to criticize the rest of the tax reform package.
But, for me, I prefer a strong move toward a retail sales tax rather than anything like an income tax. But that’s very hard to sell to Washington.
It’s gonna make the Brannon hater’s heads explode...
My thinking exactly.
Raise the top bracket from 39.6% to 40.1%. There’s your “4”.
Anyone who supports this is a socialist, and is working to degrade America.
I have no idea whether Bannon is actually supporting it. Too much fake news out there.
I say tax Cher, Barbara Streisand, Chelsea Handler, Whoopi Goldberg, Joy Behar, Madonna 80 percent..they love Socialism, let them suck on it..they have NO problem blowing 40 mil on a loser candidate in Georgia, they could use that money to help clean up the inner cities, get the homeless off the streets, help our Vets
He said he was going to increase the government side by trillions.
A 4 in it, 4% reduction.
Income is not wealth. Income is the way to acquire wealth. When these simpleton charletan sob’s stop pushing the bs is a progressive income tax wake me.
no i don’t believe it.
and if it is true, it is beyond stupid.
The answer is not more taxes, but cutting spending. It is the only thing that will work.
This is crap. Republicans raise taxes on job creators?
Ever notice.....Bannon NEVER gives stuff away. That’s why Trump trusts him.
I'm retired, living on a fixed income. The odds of my being in a top income tax bracket with "a 4 in front of it" are so close to zero you couldn't slide a piece of paper under it. That said, this is the most idiotic tax policy Trump could ever implement.
History records repeatedly that such taxes REDUCE revenue. Kennedy, Reagan, and even Bush absolutely proved that. Second, though my income will never be in a top bracket having a 4 in front of it, the odds are high that The Swamp will lower the income requirement so that I will be in the new bracket. That will make the revenue and deficit problems for the government even worse.
Sounds like fake news to me ...
I’d advocate for a wealth tax. How would tax hikers like Buffett, Gates, Soros, Bezos, Zuckerberg and Bloomberg go for getting hit with a 25% accumulated wealth tax? You can be sure the Berniebots would go for it.
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