today’s KisP alternative fun facts ( with some omissions )

Comments

RSS feed for comments on this post.

  1. Bah, Bernie’s no socialist, he’s a Peter-Paulist.
    You know, if you promise to rob Peter to pay Paul, you can count on Paul’s vote.

    One may safely dismiss the seriousness of anyone who gripes that tax cuts go to tax payers.
    (What? Yeah, or a pseudo-socialist with three houses, as the lady points out.)

    Man, one would have to be in college to fall for this nonsense.

    Comment by DougM and his raccoon platoon — November 29, 2017 @ 5:35 pm

  2. Good thing none of these people can run the numbers or understand what they mean if they could.

    A $75 tax cut on a $15080/yr min wage full time job is a tax break of just under half a percent. 0.00497.

    A $4000 tax cut on a $500K/yr job is a tax break of 8/10 of 1%, 0.008.

    The person who makes $500K earns more than 33 times the minimum wage earner, yet gets a tax break only 62% bigger.

    If the min wage job got the same “rich” tax cut, the difference would be less than $46 per YEAR; just 88 cents per week. Not even a pack of gum.

    Even if the single mom had no other deductible expenses, her standard deduction of $6,350, and a cut of $1000 each for herself and 2 kids adds up to $9,350 credit off her $15080 gross for a bottom line of $5,730, on which she’d pay 10%, or $537, minus the $75 credit, for a tax bill of $462, a hair over 3% of her gross. With that bottom line, odds are good that she wouldn’t be paying any state taxes anywhere, and of course would qualify for child care credits etc, and probably SNAP or WIC or some other financial support.

    If the $500K earner has the same minimal deductions, gets the same $9350 total credit, this makes a taxable net of $490,650, which falls in the 39.6% tax bracket, yielding a tax of $194,297.40. Minus the $4,000 gives a tax bill of $190,297.40, a bit over 38% of her gross, nearly 13 times higher than Miss Minimum.

    So who’s getting screwed here?

    Comment by drew458 — November 29, 2017 @ 8:40 pm

  3. ^ So who’s getting screwed here?
    We are. This whole bill isn’t a tax cut, but just cost shifting; they openly talked of “paying for it” and keeping the revenue stream from the income tax constant. At the same time, there isn’t a single word about staff reductions, program or agency abolition, and they’re talking about the national debt going up another $1.5 to $2 trillion without a dime being paid on the principal of that debt.
    It’s all the same-old-same-old bullshit. Any Republican who votes for this and claims to be a “Conservative” is a fucking liar.
    Mitch McConnell has to go.

    Comment by dick, not quite dead white guy — November 29, 2017 @ 9:23 pm

  4. A family member of mine receiving all these benefits and more in the state of California, a single mom who doesn’t work at all with one child, is actually proud of the fact that she gets a “tax refund” each year somewhere about $1000.

    There’s a whole lotta people out there who really really don’t want things to ever actually become “fair”…

    Comment by Lord of the Fleas — November 29, 2017 @ 9:32 pm

  5. ….Not to mention the “Earned Income Tax Credit” that she will receive in the amount of $5275.00, thanks to taxpayers like me!

    Comment by TN VOLUNTEER — November 30, 2017 @ 3:17 am

  6. You know, the more that I hang out here with you people the more I start to believe that the federal government really ISN’T there to help me!

    :P

    Comment by Holger — November 30, 2017 @ 4:15 am

  7. @Dick (3^)
    Right now I’d settle for half a loaf. We can go for more after we vote to re-form the R vs D ratio in 2018. I’ve too often seen the perfect be the enemy of the good, and therefore NOTHING gets done.

    Comment by OldFert — November 30, 2017 @ 6:55 am

  8. ….Never underestimate the survival instinct of the ingrained politician…The cesspool we call DC is filled with them!

    Comment by TN VOLUNTEER — November 30, 2017 @ 7:58 am

  9. This approach ain’t gonna work: bringing Facts to a Feel-Fight…

    Comment by Claire: rebellious pink pig with car keys - and a *cause* — November 30, 2017 @ 8:30 am

  10. ^Old Fert (7) The only half a loaf I see in this monstrosity of bullshit is the cut in the corporate tax rate. Let’s hope it’s big enough to bring some businesses back from overseas.

    Comment by dick, not quite dead white guy — November 30, 2017 @ 10:39 am

Sorry, the comment form is closed at this time.

Close this window.

0.184 Powered by WordPress