Trumpgret

[tomdalton22]

busting your ass to barely live paycheck to paycheck. So you can get 2 weeks of vacation and have half your check taken by the govt, social security youll probably never see and medical expenses.

not quite half

The median household income in the US is $78,500 which I would assume is "middle class"

At MOST, the taxable income for a coupe earning $78,500 would be $53,700 assuming they don't have any kids.

federal tax liability would be about $6,400
one kid: $4,400
2 kids $2,400

State taxes would run about $3-4K, depending on kids

social security and medicare another $6K

Total tax including social security and medicare for a couple without kids is $16,400 which is about 20%

With 2 kids it's about 15%

 

[Gulo Blue]

It seems like there's some key threshold you have to cross. Some wildly high percentage of the country has nearly no savings and past that point, life is totally different.At least it felt that way personally. There was a point where saving flipped from very difficult to being far easier. If you've only lived on one side of that threshold or the other, it could very much influence how you see politics.

 

[Michchamp]

not quite half

The median household income in the US is $78,500 which I would assume is "middle class"

At MOST, the taxable income for a coupe earning $78,500 would be $53,700 assuming they don't have any kids.

federal tax liability would be about $6,400
one kid: $4,400
2 kids $2,400

State taxes would run about $3-4K, depending on kids

social security and medicare another $6K

Total tax including social security and medicare for a couple without kids is $16,400 which is about 20%

With 2 kids it's about 15%

Don't forget all the other taxes people pay... sales tax, cigarette tax, gas tax...

Those fall harder on poorer people. When they cut billionaire's taxes, even when they cut other income brackets, they often raise those.

Property taxes too, although those are deductible from federal taxes. But if you don't pay federal income tax, you still have to pay them.

 

[Spartanmack]

They should raise taxes on cigarettes and gasoline, particularly if they want people to use less of those things and the cigarette taxes should pay for medicare/Medicaid and the gas tax should go to pay for transportation infrastructure.

The state and local tax deduction on your federal tax return, which includes property taxes, is capped at $10k. You may not notice it in Texas because there is no state income tax and your property taxes are probably less than $10k because you live in a red state, but in a lot of blue states if you make about $150k, which is basically working poor in those over-taxed, yet still structurally bankrupt blue states, you probably don't get to deduct much, if any of your property taxes on your federal return. Most of the people in decent NYC suburbs in NY and NJ suburbs don't even get to deduct all of their NJ state income tax and none of their property taxes. But the Governors think people are fleeing because they're racist or selfish.

 

[tomdalton22]

Don't forget all the other taxes people pay... sales tax, cigarette tax, gas tax...

Those fall harder on poorer people. When they cut billionaire's taxes, even when they cut other income brackets, they often raise those.

Property taxes too, although those are deductible from federal taxes. But if you don't pay federal income tax, you still have to pay them.

sure, but they contribute so little towards federal, state and local taxes.

Just using the standard deduction and 10% contribution to a 401k

A family of 4 that makes $79K only contributes about $15K

A family of 4 that makes $180K contributes about $57K

A family of 4 that makes $300K contributes about $102K (this bracket probably will itemize since most people that make that much spend way too much on housing)

We aren't even talking about rich people yet.

$500K pays $210K
$700K pays $315K

 

[tinselwolverine]

not quite half

The median household income in the US is $78,500 which I would assume is "middle class"

At MOST, the taxable income for a coupe earning $78,500 would be $53,700 assuming they don't have any kids.

federal tax liability would be about $6,400
one kid: $4,400
2 kids $2,400

State taxes would run about $3-4K, depending on kids

social security and medicare another $6K

Total tax including social security and medicare for a couple without kids is $16,400 which is about 20%

With 2 kids it's about 15%

The guy you?re quoting has a tendency to make some pretty baffling claims.

Middle class don?t pay the top marginal tax rate.

Pretty sure most top marginal tax rate earners don?t live paycheck to paycheck.

They might bitch about the taxes they pay - they may bitch about lots things to anyone who?s willing to listen to them, like this top marginal tax rate earner here:

https://m.youtube.com/watch?v=QoksOSI0djk

 

[Spartanmack]

sure, but they contribute so little towards federal, state and local taxes.

Just using the standard deduction and 10% contribution to a 401k

A family of 4 that makes $79K only contributes about $15K

A family of 4 that makes $180K contributes about $57K

A family of 4 that makes $300K contributes about $102K (this bracket probably will itemize since most people that make that much spend way too much on housing)

We aren't even talking about rich people yet.

$500K pays $210K
$700K pays $315K

since the Trump tax reform bill went into effect, the mortgage interest deduction is limited to interest on the first $750k borrowed.

 

[Gulo Blue]

https://www.foxnews.com/politics/jeff-flake-former-gop-congress-biden
two-dozen former GOP members of Congress to launch ?Republicans for Biden


Former. Crazy how loyal people are to party while they are plugged in.

 

[Gulo Blue]

What you're saying is true, but the political situation isn't business as usual either. Who's the last incumbent to have this much opposition from his own party?

https://www.nbcnews.com/msnbc/rache...n-s-candidacy-reaches-new-heights-ncna1238411


Republican support for Biden's candidacy reaches new heights

The number of Republicans backing Biden in 2020 is qualitatively and quantitatively different than anything Americans have seen in recent memory.

 

[Michchamp]

https://www.nbcnews.com/msnbc/rache...n-s-candidacy-reaches-new-heights-ncna1238411


Republican support for Biden's candidacy reaches new heights

The number of Republicans backing Biden in 2020 is qualitatively and quantitatively different than anything Americans have seen in recent memory.

The Republicans haven't stood for the working class in decades.

Democrats have now also abandoned the working class in order to woo suburban upper middle class Republicans turned off by Trump's crass behavior, but who are economically very Right wing.

The GOP is the party of the 1%... the Democrats are the party of the next 9%... the bottom 90% gets nothing from the Dems, and nothing tangible from the GOP, other than a diet of racism, prejudice and hate. to many, that's better than nothing.

They get xenophobia, and authoritarian politics... carte blanche to fight the blacks and hispanics they should be finding common ground with, instead of the billionaires who have gotten us all to this point.

right now, I'd cautiously put my money on Trump to get re-elected.

God help us...

 

[Gulo Blue]

The GOP is the party of the 1%... the Democrats are the party of the next 9%... the bottom 90% gets nothing from the Dems

How about climate change? You think the parties are the same on climate?

 

[Michchamp]

How about climate change? You think the parties are the same on climate?

I mean, the Democrats are very bad on the issue, and the GOP is incoherently bad.

 

[Gulo Blue]

Approval ratings



https://i.redd.it/9alhs0kuwij51.jpg


The flatness of the Trump curve looks like an anomaly compared to previous data, but it probably says something about social media.