5 ms·

That's the problem with the Warren / Bernie types. 99% of the campaign rhetoric is about billionaires and such, but most of the tax hikes will be on people maki

That's the problem with the Warren / Bernie types. 99% of the campaign rhetoric is about billionaires and such, but most of the tax hikes will be on people making high but ordinary incomes, because it's just plain easy. Trudeau's 2015 campaign was also a lot like that, and self-employed professionals making 150k got dinged the hardest because it was easier to demonize and target them, as opposed to raising every high earner's taxes.

Miner49er 7y ago
The only taxes the article says Bernie is raising on the high-wage workers is Social Security. Right now, someone making a billion dollars a year pays the same as someone making $132,900. That's a very regressive tax. All Bernie wants to do is make it a flat 12.4%. These high wage earners are simply being asked to pay roughly the same on the dollar as every other worker.
- Bostonian 7y ago
  You should look at all taxes, including income taxes, not just payroll taxes in isolation.
- scarface74 7y ago
  Social security if far from regressive. You also have a maximum that you receive. Also, lower income earners get a much higher return on SS than higher income earners. Is he going to increase the maximum you can get from social security.
ebg13 7y ago
> most of the tax hikes will be on people making high but ordinary incomes I would challenge people to leave their affluent bubbles and recognize that $250k/year is actually not an "ordinary income".
- apta 7y ago
  It is in areas where is needed to support a family without going into debt, which seems to be almost expected today
  - deleted 7y ago
    [deleted]
  - ebg13 7y ago
    Living in the most desirable spot while supporting a spouse who doesn't work and also children is more than almost everyone else can afford, not ordinary. Ask your local kitchen staff how much they make and where they live.
  - eesmith 7y ago
    Where are those areas? https://en.wikipedia.org/wiki/List_of_highest-income_counties_in_the_United_States https://en.wikipedia.org/wiki/List_of_highest-income_countie... says that Loudoun County, VA has the highest median household income, and that's only $134,464 . How much do the local teachers get paid? Police? Restaurant staff? A quick look finds things like https://www.investopedia.com/articles/personal-finance/080916/top-10-most-expensive-cities-us.asp https://www.investopedia.com/articles/personal-finance/08091... which says that "It takes more than $119,000 to live well in San Francisco". $250k/year is rather a lot higher than $119,000. https://eu.usatoday.com/story/money/2019/04/04/what-it-actually-costs-to-live-in-americas-most-expensive-cities/37748097/ https://eu.usatoday.com/story/money/2019/04/04/what-it-actua... uses a cost-of-living calculation which says that San Jose-Sunnyvale-Santa Clara, CA has the highest costs in the US, with a monthly living cost for family of 4 of $10,758. That's $130K/year, again rather less than $250k/year.
    - hellisothers 7y ago
      Come on, you are being at the least disingenuous, that $250k is taxes down to around $130 so now that $250k is going entirely to COL. No savings, no retirement, no vacations, that’s “just surviving” which is the OP’s point. $250k is extremely relative

Miner49er 7y ago

The only taxes the article says Bernie is raising on the high-wage workers is Social Security. Right now, someone making a billion dollars a year pays the same as someone making $132,900. That's a very regressive tax. All Bernie wants to do is make it a flat 12.4%. These high wage earners are simply being asked to pay roughly the same on the dollar as every other worker.

Bostonian 7y ago
You should look at all taxes, including income taxes, not just payroll taxes in isolation.
scarface74 7y ago
Social security if far from regressive. You also have a maximum that you receive. Also, lower income earners get a much higher return on SS than higher income earners. Is he going to increase the maximum you can get from social security.

ebg13 7y ago

> most of the tax hikes will be on people making high but ordinary incomes I would challenge people to leave their affluent bubbles and recognize that $250k/year is actually not an "ordinary income".

apta 7y ago
It is in areas where is needed to support a family without going into debt, which seems to be almost expected today
- deleted 7y ago
  [deleted]
- ebg13 7y ago
  Living in the most desirable spot while supporting a spouse who doesn't work and also children is more than almost everyone else can afford, not ordinary. Ask your local kitchen staff how much they make and where they live.
- eesmith 7y ago
  Where are those areas? https://en.wikipedia.org/wiki/List_of_highest-income_counties_in_the_United_States https://en.wikipedia.org/wiki/List_of_highest-income_countie... says that Loudoun County, VA has the highest median household income, and that's only $134,464 . How much do the local teachers get paid? Police? Restaurant staff? A quick look finds things like https://www.investopedia.com/articles/personal-finance/080916/top-10-most-expensive-cities-us.asp https://www.investopedia.com/articles/personal-finance/08091... which says that "It takes more than $119,000 to live well in San Francisco". $250k/year is rather a lot higher than $119,000. https://eu.usatoday.com/story/money/2019/04/04/what-it-actually-costs-to-live-in-americas-most-expensive-cities/37748097/ https://eu.usatoday.com/story/money/2019/04/04/what-it-actua... uses a cost-of-living calculation which says that San Jose-Sunnyvale-Santa Clara, CA has the highest costs in the US, with a monthly living cost for family of 4 of $10,758. That's $130K/year, again rather less than $250k/year.
  - hellisothers 7y ago
    Come on, you are being at the least disingenuous, that $250k is taxes down to around $130 so now that $250k is going entirely to COL. No savings, no retirement, no vacations, that’s “just surviving” which is the OP’s point. $250k is extremely relative