@Steven Carson -- You misunderstand how the tax system works. Income levels are bracketed into tax rates. Please excuse the fictitious numbers as I do not want to go and fetch the actual tax rates... The first $25,000 you earn could be taxed at something like 12%; this would be $3000 in federal income tax. Then the $25,001th dollar to $50,000th dollar could be taxed at something like 18%; this would then add to the previous $3,000 making your new subtotal $9,000 if you earned $50,000 for the year.
When people talk about raising taxes on the rich what the general idea and concept there is creating new higher tax brackets which may be something along the lines of 90% for those excesses of income, or it could just be 50%. There's a couple key arguments to this that I think is important to reflect on. Currently in America our wealthies citizens are earning significantly more than the tax brackets were previously designed for.
People talk about increasing taxes on the rich one of the ways of doing that is adding new levels of tax brackets that tax those excessive levels. Now you may be asking yourself why? what is the merit? Well the merit is to avoid income consolidation. Consolidating incomes stagnates growth and opportunity for everyone else. You could say that by discouraging these levels of income we're fighting for the American way, the American dream of opportunity because we want to allow more people to participate.
Ethan - 6 years ago
Also, you seem to think that if a tax rate is at 90%, the government literally takes 90% of your money. That’s simply not true. You seem to have quite a misunderstanding of how taxes work. I suggest you watch this video to get a better understanding of it all.
https://youtu.be/2g9Bq7KY1MI
Ethan - 6 years ago
@Steve Carson
Your comment fails because the premise is simply incorrect. Bernie doesn’t want to tax anyone 90%, and even if he did (which again, he doesn’t), that tax rate would only be used on the billionaires, not the middle class. Here’s some articles you can read so you get a little more educated.
Proving that 90% statement is false: http://www.politifact.com/virginia/statements/2015/oct/20/donald-trump/trump-bernie-sanders-wants-tax-everyone-90-percent/
Bernie’s tax plan: http://www.bernietax.com/#0;0
Also, learn the difference between a socialist and social democrat.
Steven Carson - 6 years ago
Bernie The Socialist wanted to tax people 90% and yet people still wanted to vote for him just because he said the "Free" word. You could tell them that they will all do 20 years of hard labor and say "Free" and people would vote for that person. Do they not understand that when you are making $15/hr that after 90% is taken out that you are really making $1.50/hr? I thought that people go to college to get educated but all they are doing is being brainwashed. Do they not even know what Socialism is? The stupid gene is spreading like wildfires and Bernie would love for them to really feel the BURN not Bern. How much is Bernie going to charge you all to change your diapers?
Ayslinn M Ashbury - 7 years ago
I was a delegate for Bernie and I want to be a delegate for him again. FEEL THE BERN 2020
Ayslinn M Ashbury - 7 years ago
I was a delegate for Bernie and I want to be a delegate for him again. FEEL THE BEEN 2020
Ethan - 7 years ago
As of right now, social security has a surplus and pays out 100% of it's benefits until the year 2037 and after that it still pays out near 90% of it's benefits. So why not just do a minor fix and raise the cap on the social security tax? Example being that someone earning $115,000 per years pays the same amount of social security tax as someone earning 15 million per year. That doesn't seem right does it. They should rather pay the same rate. Republicans want to raise the retirement age, which no, why do that when working people are struggling? Raising the retirement age would make that worse. They also want to cut the benefits too. It's an earned benefit program, people pay in and then they get out. By doing the things Republicans want to do, it'd be a welfare program, which would give them the excuse to cut it. Again, there's video evidence of Ted Cruz calling social security a ponzi scheme, yet he denied it on two different occasions last night. Why is that?
Rachell - 7 years ago
Social Security IS a ponzi scheme. Do you think there will be enough workers paying in enough taxes to sustain Social Security in another generation unless SS rates are doubled?
Ethan - 7 years ago
He essentially uses democratic socialism as a synonym for social democrat. As you can read here:
http://factmyth.com/factoids/bernie-sanders-is-a-social-democrat-not-a-democratic-socialist/
Ethan - 7 years ago
He’s a social democrat*, not a democratic socialist. My bad.
Ethan - 7 years ago
He’s not a socialist. He’s a democratic socialist. Two very different things. Also, Venezuela is ran under a dictatorship, so don’t even try to use that country to dismiss democratic socialism and don’t try to compare it with Bernie’s policies. This tax plan with massively cut taxes for the rich (trickle down economics) and with the massive deregulation that Trump has been doing (such as allowing mining companies to pollute the waterways), there’ll be a huge recession after an initial boom. History has proven that time and time again. So why are Republicans trying to implement the same system that’s been proven to fail time and time again? Because it helps their donors and themselves since they’re rich. Majority of them don’t care about the average American, and this tax reform proves it. Also, there’s a video out there showing Cruz calling social security a ponzi scheme (Sanders twitter just posted it after the debate). Cruz lies through his teeth.
Rachell - 7 years ago
Because you can fool some of the people ALL of the time.
Garry - 7 years ago
I have a question for all of you die hard morons out there who think Cruz won. If he did such a great job, and he has such a great following, why is Bernie the one with over 71% of the votes on this site? Browbeating and namecalling do not convince others to side with you. After all, if they did, more of us ‘Socialists’ would have voted for Hillary instead of Jill Stein.
Rachell - 7 years ago
Maybe all you Socialists should look at how well socialism is working in Venezuela.
Mark - 7 years ago
Anthony, you ADMIT to being a capitalist! Wanting to socialize certain programs like the fire dept, roads & bridges, or the police dept is nothing you ADMIT to. Nobody denies that Bernie is a socialist; we see nothing wrong with it. You can still have a free market in western democratic socialism; no ones gonna “take yer guns away” and you can still open a business. Cruz is a formidable debater, but his sleazyness and lies (specifically about actually wanting to keep taking money from billionaires, as well as getting rid of SALT to tax blue states more to cover red states; socialism in its own right) is a hard pill to swallow. Let alone the fact that Cruz would actually prefer a Christian theocracy in the US, dictating how ppl should live regardless of whether they believe or not; hardly freedom and massively hypocritical.
Ted Cruz’s slogan: Massively Hypocritical
Sabrina - 7 years ago
Ted Cruz moved the floor with the Sanders Muppet Puppet! Bernie can't debate taxes because he won't get off of single payer healthcare. He's clueless.
Anthony - 7 years ago
You liberals are really proving you are ignorant or liars. Bernie is an ADMITTED socialist and you deny it. He does not practice what he preaches. Cruz ran rings around him and you claim bernie won. You are some very very sad and delusional people.
Mark Davis - 7 years ago
With the greatest respect Jill, Bernie is not a Socialist. He merely asks for Governance of rampant Capatilism which has destroyed the middle class since Reagan.
Healthcare in the UK is cheaper per person - and covers EVERYONE.
47% Tax would be on earnings OVER $5M - even the marginal raise on 30-36% tax on individuals would only be applied on money OVER $1M - that amount would qualify those few eligible for higher tax OVER that amount as Very High Net Worth Individuals. They would not be taxed more on the amount below that line. (all other taxes such as a single payer healthcare tax would be less than current insurance premiums so be cancelled out and actually end up with a saving.
Not only can High Net Worth Individuals afford to be taxed in the amount over $1M and $5M (along with Corporations who hide their money overseas) - by putting the money back into the country at the poorer end of the system - would increase spending in the US. The economy would be bolstered as the the money is not going out of the country but being sent inside of it (the poor don't have offshore tax havens) AND a middle class will once again return.
This is a Capitalism that is governed - creating real opportunity for Americans to wrk for wealth which has for too long gone primarily to the very richest in society. There are varying estimates, but all analysis shows income inequality has risen greatly in the last three decades. As much as 42% of Americas wealth is owned by the top 1%.
A government should govern. That is all Sanders proposes - not sociaism.
Jill Hamilton - 7 years ago
Ted said Bernie was honest - it's why he enjoys debating him. Ever hear it takes one to know one? Yea, well it applies here. I worked Ted's campaign. I think Bernie brought up the Koch Bros about 20 times while Ted only had to tell you once that they were #59 on the list and that those funding the Democrats are in the top 10. So Bernie's argument doesn't stand. We earn a living in this country. It isn't handed to any of us. Most of us start entry level and work our way up the corporate ladder or we went into business for ourselves. You have the same opportunity as the nation stands right now. If you keep promoting Socialism, it will no longer be that way and you will pay close to 50% taxes if Bernie gets his way. You also will NOT handle your own health care, your child's care or your kids' education. They will CONTROL IT ALL. So cut out the Socialism talk - why? Because if you don't, you'll find yourself at war, right here on our soil. We have no intention of becoming a Socialist nation.
Sharon - 7 years ago
I also choose the honest guy over the Koch puppet.
Heidi - 7 years ago
Even Ted said Bernie is honest. Enough said. I'll take the honest guy working for the 99% over the one working for the 1% corp billionaires.
Mak Trnka - 7 years ago
Ted Cruz was very delusional with his facts bringing up Obama, Reagan, JFK
John Jenkins - 7 years ago
Ted Cruz is making his money from the Koch brothers and Sanders cares.
Redhead - 7 years ago
I mean come on, who fact checks their opponent during a debate? This was very rude of Bernie! Sad!
Mak Trnka - 7 years ago
Ted Cruz has been very delusional with his facts when it comes to Obama vs Reagan. There is something we call WAR & RECESSION!!!
Blondie - 7 years ago
Bernie burned Ted cruz,fax check yes he did..he had too..Gop known for lying
Redhead - 7 years ago
Sanders actually quoted Factcheck! Are you kidding? What a joke! He cannot back up his claims and stays in first gear because he doesn't have facts or solutions.
@Steven Carson -- You misunderstand how the tax system works. Income levels are bracketed into tax rates. Please excuse the fictitious numbers as I do not want to go and fetch the actual tax rates... The first $25,000 you earn could be taxed at something like 12%; this would be $3000 in federal income tax. Then the $25,001th dollar to $50,000th dollar could be taxed at something like 18%; this would then add to the previous $3,000 making your new subtotal $9,000 if you earned $50,000 for the year.
When people talk about raising taxes on the rich what the general idea and concept there is creating new higher tax brackets which may be something along the lines of 90% for those excesses of income, or it could just be 50%. There's a couple key arguments to this that I think is important to reflect on. Currently in America our wealthies citizens are earning significantly more than the tax brackets were previously designed for.
People talk about increasing taxes on the rich one of the ways of doing that is adding new levels of tax brackets that tax those excessive levels. Now you may be asking yourself why? what is the merit? Well the merit is to avoid income consolidation. Consolidating incomes stagnates growth and opportunity for everyone else. You could say that by discouraging these levels of income we're fighting for the American way, the American dream of opportunity because we want to allow more people to participate.
Also, you seem to think that if a tax rate is at 90%, the government literally takes 90% of your money. That’s simply not true. You seem to have quite a misunderstanding of how taxes work. I suggest you watch this video to get a better understanding of it all.
https://youtu.be/2g9Bq7KY1MI
@Steve Carson
Your comment fails because the premise is simply incorrect. Bernie doesn’t want to tax anyone 90%, and even if he did (which again, he doesn’t), that tax rate would only be used on the billionaires, not the middle class. Here’s some articles you can read so you get a little more educated.
Proving that 90% statement is false: http://www.politifact.com/virginia/statements/2015/oct/20/donald-trump/trump-bernie-sanders-wants-tax-everyone-90-percent/
Bernie’s tax plan: http://www.bernietax.com/#0;0
Also, learn the difference between a socialist and social democrat.
Bernie The Socialist wanted to tax people 90% and yet people still wanted to vote for him just because he said the "Free" word. You could tell them that they will all do 20 years of hard labor and say "Free" and people would vote for that person. Do they not understand that when you are making $15/hr that after 90% is taken out that you are really making $1.50/hr? I thought that people go to college to get educated but all they are doing is being brainwashed. Do they not even know what Socialism is? The stupid gene is spreading like wildfires and Bernie would love for them to really feel the BURN not Bern. How much is Bernie going to charge you all to change your diapers?
I was a delegate for Bernie and I want to be a delegate for him again. FEEL THE BERN 2020
I was a delegate for Bernie and I want to be a delegate for him again. FEEL THE BEEN 2020
As of right now, social security has a surplus and pays out 100% of it's benefits until the year 2037 and after that it still pays out near 90% of it's benefits. So why not just do a minor fix and raise the cap on the social security tax? Example being that someone earning $115,000 per years pays the same amount of social security tax as someone earning 15 million per year. That doesn't seem right does it. They should rather pay the same rate. Republicans want to raise the retirement age, which no, why do that when working people are struggling? Raising the retirement age would make that worse. They also want to cut the benefits too. It's an earned benefit program, people pay in and then they get out. By doing the things Republicans want to do, it'd be a welfare program, which would give them the excuse to cut it. Again, there's video evidence of Ted Cruz calling social security a ponzi scheme, yet he denied it on two different occasions last night. Why is that?
Social Security IS a ponzi scheme. Do you think there will be enough workers paying in enough taxes to sustain Social Security in another generation unless SS rates are doubled?
He essentially uses democratic socialism as a synonym for social democrat. As you can read here:
http://factmyth.com/factoids/bernie-sanders-is-a-social-democrat-not-a-democratic-socialist/
He’s a social democrat*, not a democratic socialist. My bad.
He’s not a socialist. He’s a democratic socialist. Two very different things. Also, Venezuela is ran under a dictatorship, so don’t even try to use that country to dismiss democratic socialism and don’t try to compare it with Bernie’s policies. This tax plan with massively cut taxes for the rich (trickle down economics) and with the massive deregulation that Trump has been doing (such as allowing mining companies to pollute the waterways), there’ll be a huge recession after an initial boom. History has proven that time and time again. So why are Republicans trying to implement the same system that’s been proven to fail time and time again? Because it helps their donors and themselves since they’re rich. Majority of them don’t care about the average American, and this tax reform proves it. Also, there’s a video out there showing Cruz calling social security a ponzi scheme (Sanders twitter just posted it after the debate). Cruz lies through his teeth.
Because you can fool some of the people ALL of the time.
I have a question for all of you die hard morons out there who think Cruz won. If he did such a great job, and he has such a great following, why is Bernie the one with over 71% of the votes on this site? Browbeating and namecalling do not convince others to side with you. After all, if they did, more of us ‘Socialists’ would have voted for Hillary instead of Jill Stein.
Maybe all you Socialists should look at how well socialism is working in Venezuela.
Anthony, you ADMIT to being a capitalist! Wanting to socialize certain programs like the fire dept, roads & bridges, or the police dept is nothing you ADMIT to. Nobody denies that Bernie is a socialist; we see nothing wrong with it. You can still have a free market in western democratic socialism; no ones gonna “take yer guns away” and you can still open a business. Cruz is a formidable debater, but his sleazyness and lies (specifically about actually wanting to keep taking money from billionaires, as well as getting rid of SALT to tax blue states more to cover red states; socialism in its own right) is a hard pill to swallow. Let alone the fact that Cruz would actually prefer a Christian theocracy in the US, dictating how ppl should live regardless of whether they believe or not; hardly freedom and massively hypocritical.
Ted Cruz’s slogan: Massively Hypocritical
Ted Cruz moved the floor with the Sanders Muppet Puppet! Bernie can't debate taxes because he won't get off of single payer healthcare. He's clueless.
You liberals are really proving you are ignorant or liars. Bernie is an ADMITTED socialist and you deny it. He does not practice what he preaches. Cruz ran rings around him and you claim bernie won. You are some very very sad and delusional people.
With the greatest respect Jill, Bernie is not a Socialist. He merely asks for Governance of rampant Capatilism which has destroyed the middle class since Reagan.
Healthcare in the UK is cheaper per person - and covers EVERYONE.
47% Tax would be on earnings OVER $5M - even the marginal raise on 30-36% tax on individuals would only be applied on money OVER $1M - that amount would qualify those few eligible for higher tax OVER that amount as Very High Net Worth Individuals. They would not be taxed more on the amount below that line. (all other taxes such as a single payer healthcare tax would be less than current insurance premiums so be cancelled out and actually end up with a saving.
Not only can High Net Worth Individuals afford to be taxed in the amount over $1M and $5M (along with Corporations who hide their money overseas) - by putting the money back into the country at the poorer end of the system - would increase spending in the US. The economy would be bolstered as the the money is not going out of the country but being sent inside of it (the poor don't have offshore tax havens) AND a middle class will once again return.
This is a Capitalism that is governed - creating real opportunity for Americans to wrk for wealth which has for too long gone primarily to the very richest in society. There are varying estimates, but all analysis shows income inequality has risen greatly in the last three decades. As much as 42% of Americas wealth is owned by the top 1%.
A government should govern. That is all Sanders proposes - not sociaism.
Ted said Bernie was honest - it's why he enjoys debating him. Ever hear it takes one to know one? Yea, well it applies here. I worked Ted's campaign. I think Bernie brought up the Koch Bros about 20 times while Ted only had to tell you once that they were #59 on the list and that those funding the Democrats are in the top 10. So Bernie's argument doesn't stand. We earn a living in this country. It isn't handed to any of us. Most of us start entry level and work our way up the corporate ladder or we went into business for ourselves. You have the same opportunity as the nation stands right now. If you keep promoting Socialism, it will no longer be that way and you will pay close to 50% taxes if Bernie gets his way. You also will NOT handle your own health care, your child's care or your kids' education. They will CONTROL IT ALL. So cut out the Socialism talk - why? Because if you don't, you'll find yourself at war, right here on our soil. We have no intention of becoming a Socialist nation.
I also choose the honest guy over the Koch puppet.
Even Ted said Bernie is honest. Enough said. I'll take the honest guy working for the 99% over the one working for the 1% corp billionaires.
Ted Cruz was very delusional with his facts bringing up Obama, Reagan, JFK
Ted Cruz is making his money from the Koch brothers and Sanders cares.
I mean come on, who fact checks their opponent during a debate? This was very rude of Bernie! Sad!
Ted Cruz has been very delusional with his facts when it comes to Obama vs Reagan. There is something we call WAR & RECESSION!!!
Bernie burned Ted cruz,fax check yes he did..he had too..Gop known for lying
Sanders actually quoted Factcheck! Are you kidding? What a joke! He cannot back up his claims and stays in first gear because he doesn't have facts or solutions.