Posted on 03/09/2018 11:54:53 AM PST by Beave Meister
This week, Congressional Democrats released a detailed tax hike plan that they promised to implement if given majority control of the House and Senate after the 2018 midterm elections. So much for the crocodile tears about the deficit--Democrats want to raise taxes not to reduce the debt, but rather to spend that tax hike money on boondoggle projects.
As you might expect, hold onto your wallets. Here are the details:
Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it's also a direct tax increase on small and mid-sized businesses. The 30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs pay their business taxes on their owners' 1040 personal tax returns. Hiking the top tax rate is a small business tax increase.
Increasing personal income taxes would be particularly unfortunate since workers are now seeing the results of lower rates in their paychecks. Thanks to the new IRS withholding tables, in February of this year over 90 percent of workers saw higher take home pay in the form of fatter direct deposits (for a humorous spectacle of the New York Times desperately trying to get people to down-talk their bigger paychecks, click here). They will continue to see those bigger paydays for as long as the tax rates in law remain in effect. This higher tax home pay is a down payment on a lower tax liability. Typical families of four should see their federal income tax decline from $2000 to $4000, depending on their income level and number of children.
(Excerpt) Read more at forbes.com ...
Raise taxes.... P-H-O-O-E-Y
What a platform!
Hmm...”Vote for us so we can raise your taxes.” Sounds like a winner to me.
Give us your Money!
Give us your Guns!
Vote for Us!
More high speed rail and urban trollycars. Yep, thats the ticket.
Don’t both sides go after the Independents during election campaigns, because that is where the swing votes are? This is insane.
These people really are Stuck On Stupid. Good Lord!
Democrats really are out of touch. They think raising taxes is a winning strategy? Would be great if they lost even more seats.
Yeah, go ahead and run on that.
The dead usually do not score highly on the IQ tests.
Nothing new to see here...move on...
Raise taxes.... P-H-O-O-E-Y
What a platform!
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Yep, that’s a winner (for us). I hope they keep it up loud and clear.
This certainly sounds like a real winning plan to me.....................................FOR CONSERVATIVES!....................
The people who do not pay taxes, but receive tax refunds are one of their major groups of supporters. Those people do not care.
We want to kill babies, raise your taxes and transform your kids into homosexuals...and...we’ll sue anyone trying to stop us...or...we’ll appoint a Special Counsel if a Republican tries to stop us.
I hope all democrats liberals progressive Marxist run on that platform.
5.56mm
Can Trump break that cycle?
-PJ
“Give us your Money!
Give us your Guns!
Vote for Us!”
You can’t be trusted with your money. We’ll spend it for you.
You can’t be trusted with your guns. We’ll hold them for you.
I’m not a teenager and they’re not my parents.
Part of me is thrilled and stunned at how STOOOPID the Democrats can be.
Two proven sure-fire LOSER issues for them have always been hiking taxes and gun control. Yet they are forging ahead FULL SPEED on both.
They win elections by being Santa Claus. You’d think they would stick to that.
Wonder how they see this as a winning issue unless it is out to get thrown aside early so they can move on to other issues. Who in their right minds will vote to raise their taxes? Or, maybe the point is they are raising other peoples’ taxes, taking their money for redistribution. Guess that is a sizeable portion of the democratic base—non-working, non-tax-paying leaches.
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