02-24-2020, 10:29 AM
Fiscally responsible politicians make proposals to generate new revenue in order to pay for proposed new/expanded programs.
If there is an opportunity to cut spending or scrap unnecessary existing programs and inefficiencies, that should always be pursued as well, though it often can't be done in time to cover the cost of necessary new programs.
Bernie Sanders proposes to create new government revenue to pay for his programs by:
--Increasing the federal income tax rate for those making $250,000 to $500,000 to 40% (+5%), for those making $500,000 to $2,000,000 to 45% (+8%), for those making $2,000,000 to $10,000 to 50% (+13%), and for those making more than $10,000,000 to 52% (+15%).
The 50% tax rate your referenced upthread for income over $250,000 is actually Bernie Sanders' proposal for capital gain taxes -- profit on the sell of investments, real estate, inventory -- it's separate from income tax.
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If there is an opportunity to cut spending or scrap unnecessary existing programs and inefficiencies, that should always be pursued as well, though it often can't be done in time to cover the cost of necessary new programs.
Bernie Sanders proposes to create new government revenue to pay for his programs by:
--Increasing the federal income tax rate for those making $250,000 to $500,000 to 40% (+5%), for those making $500,000 to $2,000,000 to 45% (+8%), for those making $2,000,000 to $10,000 to 50% (+13%), and for those making more than $10,000,000 to 52% (+15%).
The 50% tax rate your referenced upthread for income over $250,000 is actually Bernie Sanders' proposal for capital gain taxes -- profit on the sell of investments, real estate, inventory -- it's separate from income tax.
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