Top earning New Yorkers and Californians
could face 60% combined tax rate,
while the top rate of corporate
tax would be raised to 26.5% -
higher than communist China - under
House Democrats' bill to fund
$3.5trillion spending plans
Daily Mail (UK) & Reuters,
by
Rob Crilly
&
Staff
Original Article
Posted By: Imright,
9/13/2021 11:31:51 PM
House Democrats unveiled proposals on Monday to pay for a $3.5 trillion spending plan, with tax increases that could mean the wealthiest New Yorkers and Californians face rates of about 60 percent.The plans represent a rollback of Donald Trump's tax cuts and include a three percent surtax on individuals who earn more than $5million as well as increases in capital gains tax and a corporate tax hike from 21 percent to 26.5 percent for the biggest companies. Critics said that was a higher rate than communist China - where the general corporate tax rate is 25 percent -
They can tax the top 20% of all earners at 100% and not pay for this disaster.
41 people like this.
Reply 2 - Posted by:
DVC 9/13/2021 11:37:52 PM (No. 913862)
Perhaps these folks might think about who they support in the elections?
34 people like this.
Reply 3 - Posted by:
Birddog 9/13/2021 11:42:07 PM (No. 913868)
Who is John Galt??
27 people like this.
Reply 4 - Posted by:
Blackbird 9/14/2021 12:26:01 AM (No. 913892)
The D Rats are doing their best to ruin our country.
30 people like this.
Reply 5 - Posted by:
mifla 9/14/2021 4:19:48 AM (No. 913927)
The bigger the government gets, the more money it needs. The IRS should just put the following on the 1040 Form:
Your income = Your tax
26 people like this.
Reply 6 - Posted by:
Rinktum 9/14/2021 5:10:13 AM (No. 913935)
Politicians are addicted to other people’s money, and those who will not work are addicted to government benefits. The working tax payer is being forced to fund a corrupt government and an entitlement class. Democrats are corrupt, greedy, and power mad. Republicans go along to get along and don’t have an ounce of fight in them. We have come full circle - Taxation without representation. Can we dump some tea in the Potomac?
40 people like this.
Reply 7 - Posted by:
mobyclik 9/14/2021 5:51:15 AM (No. 913953)
This will chase thousands of them out of those 3 Marxist states to Red states. Guess who they will vote for then?
23 people like this.
Reply 8 - Posted by:
lakerman1 9/14/2021 6:30:31 AM (No. 913969)
Don't forget to add in local/state sales tax
Buffalo/Erie County New York have a sales tax rate approaching 10 percent, with almost everything subject to the sales tax. Erie County, Pa has a narrower form of sales tax at 6 percent. Lots of Erie County, NY shoppers come to Erie County, Pa to shop.
Then add in property/school taxes, different among the various states.
If you want to slow down the economy, vote democrat.
16 people like this.
Reply 9 - Posted by:
dolphin 9/14/2021 6:56:54 AM (No. 913990)
Of course if you're a top earner, you will figure out a way to keep your money. It's the trickle down taxes that will be punitive for the middle class.
22 people like this.
Reply 10 - Posted by:
F15 Gork 9/14/2021 7:08:09 AM (No. 914004)
Wake up and smell the nerve gas folks.......corporations don’t pay taxes, we do.
33 people like this.
Reply 11 - Posted by:
Bur Oak 9/14/2021 7:33:09 AM (No. 914028)
If the Democrats had their way all income would go to the IRS and then they would send a direct deposit stipend to the peoples' SNAP card account based up their social score. No need for tax returns and no need for cash just 100% withholding.
10 people like this.
Reply 12 - Posted by:
red1066 9/14/2021 7:56:01 AM (No. 914047)
This is never going to pass. The Marxists demosluts will try, but the Afghanistan disaster along with an economy slowing, and inflation rising will make this tax increase dead on arrival. As for who is John Galt #3, John Galt is an economist.
7 people like this.
Reply 13 - Posted by:
Catfur27 9/14/2021 8:09:52 AM (No. 914058)
.... we ( L-Dotters and Conservatives ) can complain about taxes all day...but....
...DEMS don't care about taxes...they are PARASITES...
...THEY see taxes as a form of " The Govt playing Robin Hood "
..they will NOT ever switch their votes because of high taxes
7 people like this.
Reply 14 - Posted by:
bpl40 9/14/2021 8:34:22 AM (No. 914081)
There is no better punishment for voting Democrat.
7 people like this.
Reply 15 - Posted by:
planetgeo 9/14/2021 9:21:48 AM (No. 914112)
Well, according to my Australian friends (and confirmed by CA and NY voters), sheep actually enjoy being sheared.
3 people like this.
Reply 16 - Posted by:
formerNYer 9/14/2021 9:28:10 AM (No. 914121)
It couldn't happen to a nicer bunch of blue voters.
4 people like this.
Reply 17 - Posted by:
Zigrid 9/14/2021 9:46:16 AM (No. 914135)
Like Iron Lady...Margaret Thatcher said....at some point you run out of OTHER people's money....the Dems are working on it....and the new world order soros is licking his chops...his indoctrination at the hitler youth camps worked...he's getting even for hitler losing to America...and obama is getting even for the crusades ...remember his telling US on his apology tour...how European whites had attacked the Middle East?...I knew then he was sent by the evil one...I'll pray an extra rosary today to wash my keyboard clean...God help US...
9 people like this.
Reply 18 - Posted by:
bighambone 9/14/2021 10:05:17 AM (No. 914158)
Well if the aggressive leftist and socialist Democrats do pass their between 3.5 to 5 trillion dollar big government bill, do you think that the leftist and socialist Democrats are going to snooze through the 2022 election, or will they come up with other big money tax raising bills to suck as much money out of productive tax paying Americans and redistribute that money that money to the unproductive who have no federal income tax liability? As when you look at federal income taxes last year, it is said that about 60% of American families had no federal income tax liability, or from a political viewpoint enough voters to keep the leftist and socialist Democrats in power indefinitely as long as they are successful is passing out “free” government benefits and money.
5 people like this.
Reply 19 - Posted by:
Timber Queen 9/14/2021 10:40:59 AM (No. 914190)
#17 - "...I'll pray an extra rosary today to wash my keyboard clean..." Thanks for the chuckle. I'll bet you're a favorite of our Mother Mary. God bless.
#13 - "THEY see taxes as a form of 'The Govt playing Robin Hood'." Once again the Left perverts the details of the story in order to bask in unearned glory. I guess Good King John also thought heavy taxation upon the people was a good thing until Robin Hood organized the people and they fought back.
Now, is not The Donald our modern Robin Hood? A minor noble recognizes his countrymen are being enslaved by a punitive government. Accompanied by a band of happy warriors, Merry Deplorables one might say, he storms the citadel while the powers-that-be are distracted in their decadence. He captures the treasury and repatriates to the people the work of their brow stolen by a corrupt government. At his side throughout the struggle is the fairest of the land, Lady Melania, giving loving support to The Donald while ministering to the people.
Caught off guard by the brashness of the interloper and his initial success, the royal pretenders plot his destruction using subterfuge, spies and lies. The Donald is caught in the trap and banished back into the wilds of Palm Beach, but instead of being disheartened his followers dig in and more join the barricades. The Donald will not be denied. We are moving into Act III of our drama. Will the The Donald and his band of Merry Deplorables recapture the castle and punish our enemies?
Pray for God's Grace and His Merciful Hand.
8 people like this.
Reply 20 - Posted by:
farmwife 9/14/2021 11:25:06 AM (No. 914249)
No, top earners will not pay these rates. They will pay the shakedown rates to Congress to carve out exceptions for them.
4 people like this.
Reply 21 - Posted by:
NamVet70 9/14/2021 11:28:44 AM (No. 914254)
Whether by intent or just an "unintended consequence" the result of the high corporate tax rate will mean more manufacturing moving out of the country and will reverse the good economic trends we achieved under President Trump. This sounds like the CCP and other foreign powers are successfully lobbying the Democrats to do their bidding. Of course, Democrats are always generating a lot of "unintended consequences" because they build their legislation in the dark at the behest of their special interests before foisting it on the country with the aid of their propaganda arm, the mainstream media. Watch for the term "unexpectedly" in more of the future economic reports.
2 people like this.
Reply 22 - Posted by:
federale 9/14/2021 11:31:08 AM (No. 914259)
What goes around, comes around!
3 people like this.
Reply 23 - Posted by:
NamVet70 9/14/2021 11:31:44 AM (No. 914260)
I think # 12 hasn't read Ayn Rand.
3 people like this.
Reply 24 - Posted by:
NotaBene 9/14/2021 11:52:50 AM (No. 914297)
Marxists want to destroy capitalism. They dedicate their lives to the Prince of Darkness. Luciferians are on a roll with an lllegitimate leader in Senile Dementia and will hurt US as much as possible until Valiant Donald and Fair Melania return our Nation to God. We shall return.
2 people like this.
And is Mr. Undershirt Zuckerberg a resident of California?
2 people like this.
Reply 26 - Posted by:
PrayerWarrior 9/14/2021 12:00:59 PM (No. 914307)
The wealthy, that the demonrats think will pay for their boondoggle tax plan, WON'T! Why? The wealthy are smart and will find a way to skirt the tax laws and will not pay and that goes for the wealthiest corporations. While in CA we looked up how much taxes certain corporations were paying and essentially they were paying ZERO. Now you know why these companies are doing the WOKE training of employees.....to escape the govt. penalty taxes and other leftist demands and threats.
1 person likes this.
Reply 27 - Posted by:
bighambone 9/14/2021 12:13:51 PM (No. 914314)
I agree with #20. The top financial elite will never end up paying the massive tax increases that Biden and the leftist and socialist Democrats intend to pass into law as the financial elite has the wherewithal to engage the top flight tax accountants and lawyers to ensure that all sorts of carveouts, exemptions, and other loopholes will be inserted in any such law to ensure that the top financial elite will in the end not pay big increased taxes. That’s before we even talk about all the Members of Congress who the top financial elite controls both through both big political contributions and corrupt activities. Just as in the past, when the smoke clears it will be the the vast, but shrinking middle class who will end up finding out that they will be paying much higher taxes in the future.
2 people like this.
Reply 28 - Posted by:
red1066 9/14/2021 12:54:14 PM (No. 914348)
Your right #23 I haven't. The name sounded familiar, and I assumed Galt was an economist. My bad.
2 people like this.
Reply 29 - Posted by:
web 9/14/2021 9:40:29 PM (No. 914850)
There will never be enough taxes to pay for all the millions of foreigners the demoncrats wish to let in the country, all the free stuff they give away to buy votes, and all the millions they funnel to their leftist pressure groups. All with our money. That is the result we get with massive vote fraud. It doesn't matter how much we hate them and their policies. They keep getting "elected" and do what they want.
1 person likes this.
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