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  • 8 years ago
    Level Up Texchicago

    Level 2

    Texchicago is now level 2 with 1,080 XP.

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  • 8 years ago
    Comment Texchicago

    +1 on the comment , I know you meant $426 billion deficit.

    My point that I failed to explain was that if the 1% are making 2+ mil a year on just income and their federal income taxes are raised from 35% to 40% they still have over $100k a month of gross income to invest as they choose.

    I guess there is not a true fair way to distribute the tax burden on every citizen, but it would put more money in the earners/spenders of the economy (middle class) if we were allowed the middle class to retain more of the income every month.

  • 8 years ago
    Comment Texchicago

    This is absurd. The 1% this and that. Well guess what happens to those " Middle Class Families?" They get thrown under the bus again. If you think $250k a year for gross income is a lot of money for a family, then you are mistaken. The top 1% make over 2 mil a year. These added taxes only put more strain on middle income families. Originally it was supposed to raise rates on millionaires.... Well that dropped to $250,000 a year. Toss out the deductions and add in the Alternative Minimum Tax and your 250k per year couple now pays the same taxes as the 1mil a year couple. See below for more laughter-

    In 2012, President Barack Obama struck a deal with Republicans in Congress to enact legislation that increased taxes. That included increasing the top income tax rate from 35 percent to 39.6 percent, increasing the top tax rate on dividends and capital gains from 15 percent to 20 percent, and phasing out personal exemptions and deductions starting at an annual income level of $250,000.

    An additional 3.8 percent tax on dividends, interest, capital gains and royalties--that was embedded in the Obamacare law--also took effect in 2013.

    The largest share of fiscal 2015's record-setting tax haul came from the individual income tax. That yielded the Treasury $1,540,802,000,000. Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000. The corporate income tax brought in $343,797,000,000.

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