Message from NCY1689 in #FedsShallRiseAgain! #fed-discussion

Lmao

You know the irony here is

our debt was much lower pre-reset

Because taxes were far figher, much earlier

It was about 12 Trillion

But taxes were ridiclous

60% top rate

and that was a moderate position

JCL was called extreme for pushing for 45%

like too low extreme?

yes

Of coruse TNF was pushing for 90%

lol

And it was set at 50% for a while

but sbane and I grudingly conceded to 60% because we care about debt

lol

I think only Maxwell voted no on that 60% rate

ironic now

lol

and now the top rate is 39.6%

same as RL yes

well RL 2016

i think the tax reform bill AZ sent me a while back proposed changing it to 50%

but I don't know whatever happened to that

here's the current budget Truman wrote

FEDERAL BUDGET: FY2018

Revenues:

Income Taxes: $ 1561.83 Billion
by tax bracket
0-13K 10%
13K-50k 15%
50K-130K 25%
130K-210K 28%
210K-413K 33%
413K-441K 35%
441K+ 39.6%

Corporate Taxes: $ 340.00 Billion
0-100K 0%
100K-1M 15%
1M-10M 21.5%
10M+ 28%

I wish he had given break downs for each line of text

each bracket I mean

I've been thinking about whether it's possible to add a new top rate of 49% for 1M+ and cut some lower rates

or something like that

Its possible

We also need to find some ways to raise more revenue for healthcare

I have some questions about that estimate

for instance

Mediciad has to funding sources

Federal and state

Is the state portions being included or not in their estimates

The other rather thing we could address budget wise is Social Security, though not immediately a big driver of the deficit

the state contributions are not included

for medicaid

That explains the shortfall then