Bannon Pushes Tax Hike for the Rich: 44% Marginal Tax Rate Proposed for Top Bracket

Are we actually talking about the rich this time, or just the upper middle class like all the other times?
 
steve-bannon-taxes-1501085213-article-header.jpg



https://theintercept.com/2017/07/26...4-percent-marginal-tax-rate-on-the-very-rich/

TOP WHITE HOUSE adviser Steve Bannon is pushing for tax reform to include a new 44 percent top marginal tax rate, hitting people who earn more than $5 million a year, with the revenue paying for tax cuts for the rest, according to three people who’ve spoken to him recently.

The top rate is now 39.6 percent and most Republicans have been planning to lower it significantly as part of tax reform. The plan Trump put out previously would have only three brackets, with the top one brought down to 35 percent.

Raising taxes on the very rich has been a rare policy that President Donald Trump has publicly espoused throughout much of his life. On Tuesday, he told the Wall Street Journal, “if there’s upward revision it’s going to be on high-income people.”


We needed this 10 years ago.

Increase income taxes on the mega wealthy, eliminate taxes on the bottom 20-30% completely.

Everyone is happy.
 
steve-bannon-taxes-1501085213-article-header.jpg



https://theintercept.com/2017/07/26...4-percent-marginal-tax-rate-on-the-very-rich/

TOP WHITE HOUSE adviser Steve Bannon is pushing for tax reform to include a new 44 percent top marginal tax rate, hitting people who earn more than $5 million a year, with the revenue paying for tax cuts for the rest, according to three people who’ve spoken to him recently.

The top rate is now 39.6 percent and most Republicans have been planning to lower it significantly as part of tax reform. The plan Trump put out previously would have only three brackets, with the top one brought down to 35 percent.

Raising taxes on the very rich has been a rare policy that President Donald Trump has publicly espoused throughout much of his life. On Tuesday, he told the Wall Street Journal, “if there’s upward revision it’s going to be on high-income people.”


We needed this 10 years ago.

Increase income taxes on the mega wealthy, eliminate taxes on the bottom 20-30% completely.

Everyone is happy.
Seems like a good plan, but why eliminate taxes completely for the bottom 30% when you can lower them, but still take in revenue ?
 
steve-bannon-taxes-1501085213-article-header.jpg



https://theintercept.com/2017/07/26...4-percent-marginal-tax-rate-on-the-very-rich/

TOP WHITE HOUSE adviser Steve Bannon is pushing for tax reform to include a new 44 percent top marginal tax rate, hitting people who earn more than $5 million a year, with the revenue paying for tax cuts for the rest, according to three people who’ve spoken to him recently.

The top rate is now 39.6 percent and most Republicans have been planning to lower it significantly as part of tax reform. The plan Trump put out previously would have only three brackets, with the top one brought down to 35 percent.

Raising taxes on the very rich has been a rare policy that President Donald Trump has publicly espoused throughout much of his life. On Tuesday, he told the Wall Street Journal, “if there’s upward revision it’s going to be on high-income people.”


We needed this 10 years ago.

Increase income taxes on the mega wealthy, eliminate taxes on the bottom 20-30% completely.

Everyone is happy.


At least you guys are no longer hiding your socialist nonsense...
 
Great. Add another tier at 50 million and really soak those fuckers. 70% sounds good to me.
 
Seems like a good plan, but why eliminate taxes completely for the bottom 30% when you can lower them, but still take in revenue ?

Because they contribute so little it does more harm than good.

Let people making under $30k/yr keep their money for fucks sake.
 
But but trickle down economics?
 
I think it's spelled slavery.

But, shure.

The marginal tax rate on the super wealthy was in the 70-90% range during the post-WW2 period.

It's what made us great. That and the GI bill.
 
That's a plug that has no concept of shame, a shameless plug, if you will.
<seedat>


@topic: I don't make 5 million a year :( which is actually a good thing, it means I have to pay fewer taxes - nice!
 
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