Posted on 04/17/2016 8:09:47 PM PDT by Beave Meister
Did you watch CNNs Democratic debate Thursday night? I actually did, and get this. I was entertained. Thoroughly entertained. I had a feeling it would be a bit more exciting, especially since Bernie Sanders has been out there questioning Hillionaires qualifications.
At one point, Dana Bash grilled Hillary on releasing the transcripts of her Wall Street speeches, and it was glorious.
Secretary Clinton, if I may, Senator Sanders keeping bringing up the speeches that you gave to Goldman Sachs. So Id like to ask you, so youve said that you dont want to release the transcripts, until everybody does it, but if theres nothing in those speeches that you think would change voters minds, why not just release the transcripts and put this whole issue to bed? Bash asked.
Good Great question.
Hillary responded by saying it wasnt an issue.
You know, first of all first of all, there isnt an issue, Hillary said. When I was in public service serving as the senator from New York, I did stand up to the banks. I did make it clear that their behavior would not be excused.
(Excerpt) Read more at chicksontheright.com ...
He takes itemized deductions for mortgage interest and state taxes. This is hardly a secret loophole, everybody does that.
That means his total income tax rate is below the rate for long-term capital gains.
Is that what his entire income consists of?
Income tax on regular income is considerably higher, at least if your income is $175K, which is what a Senator makes.
I make a little more than 100K. I deduct NY taxes, mortgage interst and 8K in charitable donations. I pay considerably more than 13.5%.
There's nothing unusual about his income tax rate for his income. Taking available deductions isn't hypocritical, it's following the law.
Dang I almost feel sorry for the poor guy. That is pathetic for a us Senator.
Well, here is his PDF:
His AGI is $205,271, and he takes $56,377 in itemized deductions and two personal exemptions for $7900. Taxable income is $140,964, tax is $26,961. In order to compute the tax, you take $140,964, multiply by .25, and subtract $8287. It looks all correct to me.
His pension amount of $4,982 is fully taxable. His social security of $46,213 is 85% taxable, so he does dodge the tax on about $5K there.
He should have deducted his followers as “dependants” because they’re needy enough.
Sanders doing so well on those small donations is a statement the elite best not ignore. Trump, on the other side of the coin, gets some small "thank you" donations. Instead he sells merchandise. It would be interesting to know how many folks buy merchandise and what was the average price of each purchase. I find it fascinating and totally consistent that Trump would rather sell me a tee shirt for $25 than have me send a $25 donation.
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