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A 25% tax bracket for the uber rich will put this country into a deep hole. There's no way we can do that. Deficits will balloon and Congress will do the only thing they can do - cut benefits. And who pays? The guy at the bottom. Mark my words - the highest tax bracket needs to be substantially higher than it is now, not lower. Trump's trickle-down ideas won't work.
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That last paragraph is all tax raises in the right places. Why is it the left all of a sudden cares about debt? Obama doubled the national debt during his 8 years, spending more than all past presidents combined and the left was silent. Even if trumps plan did add to it what does it matter now?Comment
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I'm not taking Obama's side here. I'm just saying that there's no way Trump's 25% upper tax bracket is realistic. It needs to be at least twice that. What he is doing is giving a substantial tax cut to those at the top. In full disclosure, I am in the top tax bracket and while I would love to drop my tax to 25%, it is not the right thing to do.Comment
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Fair enough and I can respect that. The top income tax bracket is 39.6% for those making over $415k a year so it would be a 14.6% reduction for them too but with the loophole closing a it likely will come close to evening out. Regardless the middle class and lower income still get tax cuts.
Btw good for you for succeeding so well! I hold no animosity toward those in the top income tax bracket. You can always give more to the IRS under your own free will if you feel guilty about it :)Comment
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