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Democrats want to give a tax cut to the top%, 6x bigger than any other bracket

43 点作者 GaryTang超过 3 年前

9 条评论

didibus超过 3 年前
&gt; An analysis from the Tax Policy Center on the latest version of the bill shows that, while nearly all Americans making under $1 million will get a tax cut, those on the upper end of that spectrum — the merely rich making between $500,000 and $1 million — will see a much bigger dollar-value tax cut than the bulk of the working and middle class<p>So everyone under 1 million gets a tax cut, but the 500k-1m range sees a bigger cut.<p>I mean, it seems good at first, it be nice to amortize the break more evenly, but I think it&#x27;s because it&#x27;s done through a deduction mechanism instead of altering the brackets themselves, so it&#x27;s probably harder to control.<p>What exactly is the &quot;bad angle&quot; though here? Is there a different way to do it?<p>P.S.: Also they do the comparison on tax dollar. Which seems strange. Obviously the same percentage cut for someone making more money will be bigger, so if someone makes 6x more money the same cut will result in 6x more absolute dollar no? Is it true that the 500k-1mil earners are getting a special treatment here or is it just the way the same treatment applies to them?
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mint2超过 3 年前
Isn’t SALT preventing double taxation? And isn’t this just returning it to the state prior to the trump tax bill?
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kbenson超过 3 年前
I&#x27;m sort of at the point where I wouldn&#x27;t mind news headlines and articles that reported statistics being required to report a disclosure table like loans are required to, which shows total amount, percentage change, and multiples of amount between the things being compared.<p>Then at least even if they make stupid cross comparisons in titles, people would know they can quickly look inside for a breakdown of the reality which can&#x27;t be confused by wording.
cobookman超过 3 年前
I&#x27;m surprised Democrats haven&#x27;t made taking a loan against an asset a taxible capital-gains event.
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bko超过 3 年前
Is there any reason there shouldn&#x27;t be a cap on state and local tax deductions (SALT) from the federal tax, apart from it affect people more in blue (high cost) states?<p>Why should the federal government subsidize high state and local taxes? It obviously most benefits the wealthy who are well above the current SALT cap. The standard deduction is already pretty high, ~25k for married couple. And if you&#x27;re paying that much in state and local taxes, you&#x27;re pretty well off.
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twofornone超过 3 年前
&gt;Taxpayers making between $500,000 and $1 million are set to see an average tax cut of over $6,000 next year.<p>That...seems pretty negligible. Especially if you consider the number of people actually in that tax bracket. According to this link [0], approximately 1.6MM households are in this tax bracket...so that&#x27;s about 10 billion dollars in lost revenue, which seems small relative to the size of the spending bills.
mister_tee超过 3 年前
I&#x27;m not arguing for or against this but there are some points of subtlety:<p>First, this is not at all guaranteed. It&#x27;s the current state of the bill in the House, and the Democrats are arguing amongst themselves, were on vacation last week, and will return to a list of critical legislation over the next few weeks (debt ceiling, defense, then maybe this if they can pencil in some time to spend $1.75T).<p>This is in regards to the SALT cap, which didn&#x27;t exist at all until 2017, and in the House bill it&#x27;s raised to something like an $80k limit. Sen. Sanders in the Senate wants to income-cap it instead. The summary from the article does a better job of explaining than the editor who wrote the headline:<p>&quot;Taxpayers making between $500,000 and $1 million are set to see an average tax cut of over $6,000 next year [...] The bill still raises taxes on the top 0.1%, with the average household making over $1 million paying over $65,000 more.&quot;<p>So an overall tax cut for the top couple percent up to the top 0.1% in high-income&#x2F;property tax states. Which lean blue. Just four years ago much of the press around this was howling at how Trump was doing this to punish blue states (IMO it was primarily to balance the corporate tax cuts for reconciliation, with tax-those-who-didn&#x27;t-vote-for-me being secondary), and now it seems difficult to repeal since it can be seen as a fresh new tax cut.<p>IMO analyses need to treat the ultra-rich independently; it doesn&#x27;t seem fair to group a couple making $500k and owning a house in New Jersey with the 0.001% and then to start talking about averages. Though I can understand there&#x27;s not going to be a ton of sympathy for the plight of a couple making north of $500k.<p>IIUC, SALT tax deduction limit will expire in 2025 naturally. Though Sanders&#x27;s proposed amendment may extend it indefinitely?
VictorPath超过 3 年前
The title is clickbaity. Wealthy people are not getting a tax cut with SALT - any federal cut with this would wind up being taxed locally.
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webinvest超过 3 年前
What is the SALT deduction?
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