Bernie's Tax Plan Helps the Middle Class: Only The Very Wealthy Can Complain:

[amborin]

Only Corporatists & Billionaire-Lovers Criticize Bernie Sanders' Tax Plan, Which HELPS Middle Class

Based on a tax foundation chart, it’s clear that, for middle class taxpayers, nothing to fear from Bernie's tax plan.

Bernie’s plan raises taxes for wealthy households; and that’s what upsets corporate- and millionaire- and billionaire-lovers.


One Example:

Hillary 43.6% of 5 million = 2,180,000

Bernie 50.2% of 5 million = 2,510,000 difference of $330,000 more per year

Hillary 15% of 13,250= 1,722

Bernie 17.2% of 13,250 = 2,279……this is $557 more per year, a lot, if you are struggling financially.

However: Politifact Confirms: Bernie’s Health Plan Will Save EVERY American Family $1200 per year

http://usuncut.com/news/bernie-sanders-healthcare-plan-would-save-the-average-american-family-1200/

The real reason corporatists and millionaire- and billionaire-lovers hate Bernie’s plan:

“Bernie’s plans go an additional step further, by including a direct financial transaction tax on Wall Street as well as by lifting the (arbitrary) cap on income subject to the Social Security payroll tax, a move that would ensure the long-term solvency of Social Security. Together, these two plans would raise trillions of dollars in revenue over ten years. – “

http://inequality.org/democratic-candidates-propose-tax-rich/


Table 1. Tax Brackets under Hillary Clinton’s Tax Plan

Ordinary Income Capital Gains and Dividends Single Filers Married Filers Head of Household
10% 0% $0 to $9,275 $0 to $18,550 $0 to $13,250
15% 0% $9,275 to $37,650 $18,550 to $75,300 $13,250 to $50,400
25% 15% $37,650 to $91,150 $75,300 to $151,900 $50,400 to $130,150
28% 15% $91,150 to $190,150 $151,900 to $231,450 $130,150 to $210,800
33% 15% $190,150 to $413,350 $231,450 to $413,350 $210,800 to $413,350
35% 15% $413,350 to $415,050 $413,350 to $466,950 $413,350 to $441,000
39.6% 20% $415,050 to $5 million $466,950 to $5 million $441,000 to $5 million
43.6% 24% $5 million and above $5 million and above $5 million and above


Individual Income Tax Brackets under Senator Bernie Sanders’s Tax Plan

Ordinary Income Capital Gains and Dividends Single Filers Married Filers Heads of Household

12.2% 2.2% $0 to $9,275 $0 to $18,550 $0 to $13,250
17.2% 2.2% $9,275 to $37,650 $18,550 to $75,300 $13,250 to $50,400
27.2% 17.2% $37,650 to $91,150 $75,300 to $151,900 $50,400 to $130,150
30.2% 17.2% $91,150 to $190,150 $151,900 to $231,450 $130,150 to $210,800
35.2% 17.2% $190,150 to $250,000 $231,450 to $250,000 $210,800 to $250,000
39.2% 39.2% $250,000 to $500,000 $250,000 to $500,000 $250,000 to $500,000
45.2% 45.2% $500,000 to $2,000,000 $500,000 to $2,000,000 $500,000 to $2,000,000
50.2% 50.2% $2,000,000 to $10,000,000 $2,000,000 to $10,000,000 $2,000,000 to $10,000,000
54.2% 54.2% $10,000,000 and up $10,000,000 and up $10,000,000 and up

Note: The bracket thresholds above are based on 2016 parameters.
• Eliminates the alternative minimum tax.

From (Right Wing) Tax Foundation: http://taxfoundation.org/article/details-and-analysis-senator-bernie-sanders-s-tax-plan

2

[Gregorian]

1. People don't get that they're being ripped off. This plan is totally fair.

Thanks.

[LiberalFighter]

2. My top income tax bracket would be higher with $38k

It looks like I would end up paying at least $800 more. That doesn't include already having health care coverage and now paying for it?

[creeksneakers2]

4. It would cost me too

I already have health insurance.

The Tax Foundation gives some alarming statistics about how badly the economy would be damaged under Bernie's plan. The numbers can be suspected, but there is no doubt that these will be the numbers the Republicans will use to scare people about Bernie if he gets the nomination.

[amborin]

5. Bernie wins by presenting the facts; the Tax Foundation is right wing; i cite it here only to show w

worst case scenario of the tax plans

[amborin]

6. you would be netting out income once single payer is implemented; and if you have employer-

paid health insurance, just wait until the Cadillac tax kicks in! Its implementation was delayed until after the
elections, knowing full well that it would cause a groundswell of opposition.

[LiberalFighter]

7. I would be paying for something I already have and likely would be better than his health care plan.

[amborin]

19. wait until you get clobbered

by the Cadillac tax or not, probably; but you probably will be; you have a union logo as your avatar (congrats to you, by the way!), and those employer-provided health plans are the ones that are going to get clobbered; that's why the AFL-CIO was so opposed.

But you know what? Regardless of this issue, we would only ever vote for Bernie because of his honesty, integrity,
and courage of his convictions. He's not being paid by lobbyists, he's not supported by Super Pacs, he fights for
ordinary Americans. He will take on the big banks, which is huge, and has a long detailed list of his other plans. With HRC, we get a candidate who has reneged on her promises to oppose FTAs (she turned around and lobbied and voted for them); she has a record of supporting non-progressive programs and legislation; she is a war monger who pressured Obama to bomb Libya, with dire consequences; she is instrumental in the regime change in Syria; she has a dodgy (at best) history of interactions with Clinton Foundation donors; she is on record lying time after time. She has personally profited from huge speaking fees from huge banks and big Pharma---they aren't throwing away money for fun; she lobbies and fund-raises with lobbyists who promote slashing Social Security (and she herself has used weasel words when answering questions about Soc Sec). I could continue.

[Hydra]

3. If Bernie can pass the Single Payer plan

That would take away a lot of my ACA worries. I almost had to pay 100% premium for less coverage, but I got lucky and a new plan was available in place of mine(that got shut down by the insurance commission).

[burrowowl]

8. K&R!!!!!!

[CorporatistNation]

9. Kick And Recommend!

IF you have clue... Bernie's plan works for the vast majority and makes tax policy more progressive from a macroeconomic standpoint.

[BlueStateLib]

10. I would pay 30% more taxes under the Bernie plan

http://www.vox.com/policy-and-politics/2016/3/25/11293258/tax-plan-calculator-2016

[Avalon Sparks]

13. That Vox thing seems weird

Unless you make over 250,000. Your income tax rate would not change

His plan just replaces the top three income tax rates (33%, 35%, and 39.6%) with more progressive rates:

37% on income between $250,000 and $500,000.
43% on income between $500,000 and $2 million.
48% on income between $2 million and $10 million. (In 2013, only 113,000 households, just 0.08 percent of all taxpayers, had income between $2 million and $10 million.)
52% on income of $10 million and above. (In 2013, only 13,000 households, just 0.01 percent of taxpayers, had income exceeding $10 million.)

[amborin]

20. Ezra Klein of Vox is a Hillary supporter; their tax plan is not accurate; check the one in the OP

[Avalon Sparks]

11. I thought Bernie tax plan on income only raised % rates for 250,000 +

I'd like to see rates now compared to Sanders and Clinton

[Avalon Sparks]

12. His plan

This is his plan

replace the top three income tax rates (33%, 35%, and 39.6%) with more progressive rates:

37% on income between $250,000 and $500,000.
43% on income between $500,000 and $2 million.
48% on income between $2 million and $10 million. (In 2013, only 113,000 households, just 0.08 percent of all taxpayers, had income between $2 million and $10 million.)
52% on income of $10 million and above. (In 2013, only 13,000 households, just 0.01 percent of taxpayers, had income exceeding $10 million.)

[senseandsensibility]

14. And the others stay the same?

I am very confused by all the competing tax threads.

[Avalon Sparks]

15. I just looked at it ... The other brackets...

Do stay the same, however the tax policy sight oh the original post adds 2.2% to each bracket.

With Bernies plan, employees would pay additional 2% in payroll taxes for Healthcare, and not pay their portion of Health Insurance. The other .2% would go toward a 2week paid maternity leave for all women having a kid.

For example at 140,000 married no kids, We'd pay an additional 3,000 in taxes at 2.2%
However with the portion we pay for employee health insurance, which is 400 a month, at 4800 the difference would be a savings of 1800 a year.

Standard deductions for income under 250,000 remain the same.

Someone feel free to correct me if I missed something.

I could see where taxes would go up for people that don't pay a portion for employee health care.

[amborin]

21. those people will eventually get hit with the Cadillac tax; its implementation was delayed until

after the elections.....

[Avalon Sparks]

22. What is that?

I guess I could google it, but do you have a link handy for specifics? Thanks

[pampango]

16. And that is why Bernie is better. Higher/more progressive taxes, stronger unions,

better infrastructure and a stronger safety net are what progressive countries have; and what we need.

[Scuba]

17. K&R for progressive taxation!!

[all american girl]

18. Our taxes would go up because we pay nothing for our healthcare.

We have military healthcare, so no cost.

Now before anyone jumps on me, I'm just stating a fact....not an opinion either way. I wish everyone had my healthcare.

[Avalon Sparks]

24. Well since they're paying for it they should pass the savings on to you..

That is his suggestion for employees that the employer pays for healthcare.

The full tax for single payer is 8%
6% to be paid by employer and 2% to be paid by employee.
I would imagine the military and other employers that are covering employees insurance costs at 100%, will pay the full 8% tax for single payer. Bernie suggests in this case the employer pays the difference to employee via salary increase.

I'm sure he'll make sure the military folks don't get hit with an increase, regardless.

He wants to make health care less expensive, and only increase takes on those making over 250,000.

I've seen so many opinion pieces and one calculator from VOX that are blantant scare pieces....completely distorted and inaccurate.

I've been trying this election cycle to learn how to recognize propaganda and distortions in online articles. I've gotta a bit of a handle on it. The misinformation for both parties and all issues has completely blown my mind. It's no wonder people are confused and some voting agaisnt their own interests cause they have been hoodwinked.

[all american girl]

26. Honestly, I didn't go to the VOX thing because I already now that we will pay more,

even when my husband retires...Tri-Care is really cheap. All I want everyone to realize, is that Bernie should get the nom, this will be used against him. "Look, Bernie want you to pay for something that you get for free." Yes, I think it's stupid, but you know republicans re, can't wrap themselves around us fast enough to make a point, then screw us in the end...VA funding, raises, housing....you know the drill.

I am curious, I don't work, does the 2.2% only go towards my husband's pay check, or is it per person in the household? I've been wondering about that, but I keep forgetting to look it up or ask...silly me

[mainer]

23. Several people told me Bernie's maximum tax rate will be 90%

which is why they're scared and not voting for him. No matter how much I try to tell them that's not true, they still believe it's 90%.

[Avalon Sparks]

25. Yes I read the 90% claim in an article from the Wall Street Journal

The twists and spins in that one. Actually that was just the headline, the actually article was about taxing the top 10% of earners. The headline should have said no tax increases for 90%...

People saw the deliberately inaccurate headline, and Trump also claimed it in a debate, and now a number of folks claim it's hard fact.

I find one of the keys to spot the articles without spin is they basically just have limited detail, straight numbers.

It's the articles that explain and explain and explain...with lots of seemingly irrelevant information added .....these should generally be discounted ....

[mainer]

27. Thanks for explaining where that # came from

I had no idea where they heard it.