2016 Postmortem
In reply to the discussion: "Medicare for all" The first thing Sanders said after emerging from a successful hernia procedure [View all]George II
(67,782 posts)It's bad right from the git-go. It says that Sanders proposes revenue from "progressive taxation". Then move over to the right column and we see that "progressive taxation" includes PAYROLL TAXES, a highly REGRESSIVE form of taxation.
Payroll taxes come straight from the pay of lower and middle class Americans (as well as the "oligarchy" .
How much "pay" does Donald Trump get? What % of his total income would that be? One-percent, five-percent?
The total income for most middle and lower class Americans is 100% pay - they have very few or no investments or income other than pay. So if the payroll tax is say 2% (just picking a number), someone earning $40,000 a year with no investment income will pay $800 in "payroll tax".
On the other hand, Donald Trump may pay himself $1M a year in "salary" even though his overall income from other sources is $50M (again just picking numbers) So his "payroll tax" would be 2% of one million dollars, or $20,000 dollars. A lot of money for most, but a mere 4/100 of one-percent.
So the poor working slob is paying 2% of his total income, a rate FIFTY TIMES the rate that the rich guy is paying on his income.
So the lower and middle class is once again getting screwed, but this time by the darling of the "progressives"!