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posturing to appease the kooks. what an imbecile.
Sounds great to me. It’d be great to start having corporations like Amazon, Salesforce, Duke Energy, Nike, and many others pay federal corporate income tax, and share a few of their hefty profits. That would certainly help to fund. Stop having middle-class citizens carry the entire weight of the government budget on their backs.
The Medicare tax needs to be spread to anyone and everyone that will be
taking Medicare in the future.
Biden and the Dems are so full of themselves.
Why should somebody making 30k and needing every penny to survive pay the same as somebody that is able to fund a multimillion dollar 401k and still drive a Mercedes? Taxes in the US need to be a little less regressive and make the wealthy do their fair share.
They don’t pay the same, Dan. The tax rates go up as your income increases, and those rates apply to a larger amount of income. If you make $30,000 per year, you will pay $1718.00 in federal income tax (source: https://us.icalculator.info/salary-illustration/30000.html#:~:text=You%20will%20pay%20%241%2C718.00%20in,Federal%20Tax%20paid%20on%20%2430%2C000.00%3F). I paid over $500k in federal income tax last year, and Biden says that is not enough.
Dan M.
Right now the vast majority of people are taking more out of Medicare
than what they contribute.
Only raising the tax on the rich is utter nonsense and will not solve the
problem by any stretch of the imagination. It will NOT be nearly enough
money.
The increase in the Medicare tax should be a flat rate that everyone
contributes to.
This whole social justice mentality is why we are in the mess we are in.
Agreed with Keith B. on that one. It’s pointless to try to single out the wealthy. More laws and thousand page bills will be signed creating legal loopholes. It happens every year.
Another cause Biden can blame on the other side when it’s not approved by congress, all the while knowing the failed outcome.
You’re missing the point Dan. It’s all about politics, not actually raising the tax.
Biden: “This modest increase in Medicare contributions from those with the highest incomes” – since when does increasing a tax by 31.6% qualify as a “modest increase”? Great reporting on that one, AP.
+1 Kevin. If he was serious, would have been proposed when Democrats had control of White House, House and Senate.
Government waste, fraud, and inefficiencies, costs tax payers millions and millions of $. Instead of debating tax increases there should be a focus on accountability of our money. Remember, it’s not the government’s money that is being wasted, it’s YOUR money given to the government through taxes that is wasted.
You’re not going to make a difference in the US budget with “fraud, waste, and inefficiencies”.
It was nonsense when Obama said it and it’s nonsense now.
You’re either cutting the military, Medicare/Medicaid, or Social Security … or you’re increasing revenue (tax increases and collecting everything owed) … or, if you’re actually serious, you’re doing both.
One party cuts revenue and then claims the only solution is cutting spending …
… the other only wants to increase revenue and never wants to cut spending …
Don’t see how one is much worse than the other.
https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go