cancel
Showing results for 
Search instead for 
Did you mean: 
cotman03
Senior Contributor

Re: Ok I understand

I didn't say that but it works both ways.  Simple math.  If the tax rate is 30% and goes to 33%, that's a 10% increase, not 3%.  If it went from 30% down to 27%, that's a 10% decrease.  When Dems say its only a 3% increase, its not.  They just count on most Americans to be stupid enough not to understand what the increase really is.  And if its a "3%" increase across the board, its even worse for those who are in the lower tax brackets.

r3020
Senior Advisor

Re: Ok I understand


@kraft-t wrote:

So when it was a tax cut it was only 3% but when it expires it is 10 to 15%.?

 

The Bush tax cuts reduced the tax burden by 3% of your adjusted gross income. When it expires your adjusted gross income will be taxed at 3% more than it is now.


It's 3% when the government considers the money 100% theirs and they allow you some back.

kraft-t
Senior Advisor

Re: Ok I understand

Bizarre thinking. When the bank rises your interest rate to 6% over your current 5% do you consider it a 1 percent increase in the interest rate or do you call it a 20% increase in interest rates?

 

That is nothing more than trying to spin the faxcts in the most negative light.

 

Why is a 3% increase in tax rate worse for those in the lower brackets? 

cotman03
Senior Contributor

Re: Ok I understand

Bizzare thinking?  I am not wrong or spinning the facts. You are doing that.   A rise to 6% over 5% interest rate doesn't raise my payment by only 1%.  Its a 20% increase in interest.  Go do a mortgage calculator and see for yourself.  Same for tax increases.  Getting rid of Bush tax cuts will be far more expensive to people than you liberals are saying. 

kraft-t
Senior Advisor

Re: Ok I understand

Are You from mississippi by any chance?

r3020
Senior Advisor

Re: Ok I understand


@kraft-t wrote:

Are You from mississippi by any chance?


Is there something wrong with people from Mississippi?

Nebrfarmr
Veteran Advisor

Re: Ok I understand

The math is quite simple.


If you have $100,

30% is 30 dollars

33% is 33 dollars.

 

Last time I checked, 33 is 10% more than 30.

 

If someone is in the 10% bracket, and they raised it to 30%, that would be a 200% increase, not 20%.

cotman03
Senior Contributor

Re: Ok I understand

Louisiana.  Our education system is a little better than Mississippi's if that's what you're wondering.

cotman03
Senior Contributor

CRe: Ok I understand

Conservatives are better at math

Jim B. in Iowa
Senior Contributor

Re: A single 160 acre farm....


@kraft-t wrote:

I'm certainly not a 2  or 3 %er     Not even close! in  fact estate tax will not even brush up against me. However, I do pay taxes but not enough. I wish I was in that $250K bunch that will have to squeeze out another 3%. You know that tax increase which will kill investing and red and ba will quit working so hard. What the hey is the use if Uncle sam is goona take it ALLLLLL!

 

We old codgers learned how to cope under the Clinton rates but those young whipper snappers would have a stoke and leave this planet. MY GOD! 3% more!


 

 

 

Puts one in the top 5% of Americans.  I'd say if you own two or three of them, as you've insinuated in the past that you do, that you are INDEED in the top 3% of wealthy Americans. 

 

 

Btw, your heirs better hope you don't die next year...I believe the estate tax for 2013 is at a measly ONE MILLION DOLLARS.  Think of the irony of your kids complaining about having to pay millions in estate tax.