Congressman Pascell's Tax Plan E-mail

[Pesto Pirate]

I know on previous threads we have been debating the pros & cons of the proposed federal tax plan. In that light, as I also know Congressman Pascrell is an SHU basketball fan, I wanted to post my response to the e-mail I received from today on that same subject: (Because of character limitations I will post his e-mail on another thread.)

Dear Congressman Pascrell,

Thank you for your communication regarding the soon to be passed Republican Tax Plan - Your interest in it is appreciated but your reasoning regarding it is very flawed. You and all those who are opposing it, are not looking at the bill's big picture impact in how it will greatly benefit all Americans, particularly those in the middle class.

Two important items that you failed to mention in your e-mail regarding the bill - All tax brackets will receive a reduction in their rates and the standard deduction will almost double to $24,000.00. The tax rate reduction speaks for itself. However currently more than 60% of taxpayers are using the standard deduction, so by never having a need to itemize, the elimination of the SALT deduction will not affect these taxpayers whatsoever. Under the new plan the amount of those using the standard deduction, is estimated to increase to 85% encompassing just about all in the middle class. So only about 15% of taxpayers will have to pay more in all likelihood high tax states as a result of the change. However these taxpayers are the more affluent or so called rich, that Democrats are so fond of saying are getting the biggest tax break in this plan. This element of the plan, puts a big hole in that type of reasoning.

The biggest benefit of the plan for all comes with the large reduction in the corporate tax rate from 35% to 21%. This was a widely known element of Donald Trump's election campaign. Ultra liberal economist Paul Krugman, predicted because of this plan, if Trump was elected, Wall Street, knowing of this, would crash the day after the election. Krugman was so wrong, that his prediction now is so redicklously laughable! Far from crashing, the market since the election has hit 86 all time highs! The cause of this is the direct anticipation of his tax plan being implemented.

I am not a rich person, but I am very happy to state that my non real estate, net worth has increased since the election by 30%! I am sure others like myself in the middle class have also seen such increases. When the plan passes, I really foresee that the market increases will only get better! The stock market with the proliferation of 401k work plans and individual IRA plans are very much the norm with the middle class and even with many in the lower income levels. More and more of the baby boomer generations are retiring and as all of this new equity is circulated into the economy, a snowball ripple effect will greatly benefit positively ALL in our economy. It is important to point out that this snowball effect, will not come down the hill in a TRICKLE but rather more like a WATERFALL!

Please like I am, look at the bill's big picture impact on all in the economy, and decide to set yourself apart from your peers and vote for the bill!

I would appreciate very much a personal response back my you regarding my request!

Sincerely,
Bob Silvestri
Romarsi Pesto
Owner/Sales Director
973-773-6040
www.romarsi.com

 

[Halldan1]

Bob, please keep everything on one thread.

I'll post the reply below....


Dear Friend,

As your representative in Congress, protecting the interests and pocketbooks of my constituents is one of my top priorities. That is why I spearheaded efforts to preserve important provisions of the tax code that New Jerseyans rely on as the House considered Republicans’ tax reform legislation.

Their tax bill is the first step in undertaking massive changes to the tax code. Of all the problems with this bill, it is particularly egregious in its targeting of states like New Jersey. New Jersey is one of four states that will bear a net tax INCREASE as a result of this bill. Primarily this comes from the partial repeal of the deduction for state and local taxes, or SALT. This provision of the tax code allows taxpayers to deduct the cost of their state and local income, sales, and property taxes. This bill repeals all of these except for a limited property tax deduction.

With the highest property taxes in the country, New Jersey would be slammed by this huge hit to homeowners. That’s why I offered an amendment in the Ways and Means Committee to restore the full deduction for SALT. Back in June, I led a bipartisan letter with the entire New Jersey delegation urging the preservation of SALT. States, cities, and towns across the country rely on state and local property taxes and sales taxes for revenue to fund local services like education, public safety, and social services. The cuts in this bill would put pressure on states, counties, and cities to either cut services or raise taxes to make up the difference. Groups ranging from the realtors, mayors, service employees, teachers, sheriffs, business groups, and more have supported retaining SALT. Unfortunately, my amendment was voted down on party lines despite the impact SALT repeal will have in Republicans and Democratic districts alike.

Additionally, this bill does nothing to address tax relief for victims of natural disasters. I have been fighting for disaster tax relief for Hurricane Sandy victims since 2012 -- relief that never came. And while we had to fight for every penny of assistance, the same tax relief accorded to victims of Hurricane Katrina and major hurricanes going back years was denied victims of Sandy. Amazingly, the their bill eliminates provisions disaster victims have previously enjoyed, preserving ONLY property casualty loss deductions ONLY for this year’s hurricane victims. An amendment I offered would have added retroactive tax benefits to taxpayers who suffered from natural disasters going back to 2012. Unfortunately, it was voted down in committee. This bill presents another opportunity to snub victims of Hurricane Sandy.

Finally, estimates by NBC News indicate that this bill may benefit the President and his family personally by more than $1 billion. Yet we have no way to know exactly how much he stands to gain from changes to the tax code that he is advocating, because unlike previous Presidents going back forty years, President Trump continues to refuse to release his tax returns. I have been asking the Chairman of the Ways and Means Committee, who has the authority to obtain the President’s tax returns for committee review, to do so. An amendment I offered to the tax bill in committee would have required the Committee to review his returns. Yet again, Members in the majority voted it down, instead choosing to remain complicit in keeping the President’s tax returns hidden.

This tax bill would provide a massive windfall to corporations and the wealthiest Americans on the backs of middle class taxpayers in New Jersey, while blowing a $1.5 trillion hole in the deficit - setting the stage for further cuts to Medicare and other programs and services that Americans rely on.

You can find my floor statement on the legislative malpractice of this tax bill here.

The final bill has yet to come to the floor for a vote and is currently being worked out in a conference committee. In the meantime, I will keep fighting to stop this tax scam and invite you to join me in righting this course. I encourage you to stay updated on my work in Congress by visiting my website, Facebook, Youtube, and Twitter pages.

Sincerely,
Bill Pascrell Jr.
Member of Congress

Office Locations
Washington Office
2370 Rayburn Building
Washington, DC 20510
Tel: (202) 225-5751
Fax: (202) 225-5782 Paterson Office
Robert A. Roe Federal Building
200 Federal Plaza, Suite 500
Paterson, NJ 07505
Tel: (973) 523-5152
Fax: (973) 523-0637

 

[MBF72]

Should be posted to Life Off the Ship.

 

[ed odowd]

I live in New Jersey but hard to defend deducting ever increasing taxes when states like tx,del,fla, have no income tax.our liberal state Supreme Court justices insist we pour 25 k per head to abbot school districts which represents over half of state aid to education.Pascrell should consider expense reduction but I guess he thinks that would be out of the question since he favors our new governor’s proposal to raise taxes he wants unlimited state tax deduction.Bill is a poster boy for term limits as Murp the serf will be.

 

[The Crows Nest]

Bob, please keep everything on one thread.

I'll post the reply below....


Dear Friend,

As your representative in Congress, protecting the interests and pocketbooks of my constituents is one of my top priorities. That is why I spearheaded efforts to preserve important provisions of the tax code that New Jerseyans rely on as the House considered Republicans’ tax reform legislation.

Their tax bill is the first step in undertaking massive changes to the tax code. Of all the problems with this bill, it is particularly egregious in its targeting of states like New Jersey. New Jersey is one of four states that will bear a net tax INCREASE as a result of this bill. Primarily this comes from the partial repeal of the deduction for state and local taxes, or SALT. This provision of the tax code allows taxpayers to deduct the cost of their state and local income, sales, and property taxes. This bill repeals all of these except for a limited property tax deduction.

With the highest property taxes in the country, New Jersey would be slammed by this huge hit to homeowners. That’s why I offered an amendment in the Ways and Means Committee to restore the full deduction for SALT. Back in June, I led a bipartisan letter with the entire New Jersey delegation urging the preservation of SALT. States, cities, and towns across the country rely on state and local property taxes and sales taxes for revenue to fund local services like education, public safety, and social services. The cuts in this bill would put pressure on states, counties, and cities to either cut services or raise taxes to make up the difference. Groups ranging from the realtors, mayors, service employees, teachers, sheriffs, business groups, and more have supported retaining SALT. Unfortunately, my amendment was voted down on party lines despite the impact SALT repeal will have in Republicans and Democratic districts alike.

Additionally, this bill does nothing to address tax relief for victims of natural disasters. I have been fighting for disaster tax relief for Hurricane Sandy victims since 2012 -- relief that never came. And while we had to fight for every penny of assistance, the same tax relief accorded to victims of Hurricane Katrina and major hurricanes going back years was denied victims of Sandy. Amazingly, the their bill eliminates provisions disaster victims have previously enjoyed, preserving ONLY property casualty loss deductions ONLY for this year’s hurricane victims. An amendment I offered would have added retroactive tax benefits to taxpayers who suffered from natural disasters going back to 2012. Unfortunately, it was voted down in committee. This bill presents another opportunity to snub victims of Hurricane Sandy.

Finally, estimates by NBC News indicate that this bill may benefit the President and his family personally by more than $1 billion. Yet we have no way to know exactly how much he stands to gain from changes to the tax code that he is advocating, because unlike previous Presidents going back forty years, President Trump continues to refuse to release his tax returns. I have been asking the Chairman of the Ways and Means Committee, who has the authority to obtain the President’s tax returns for committee review, to do so. An amendment I offered to the tax bill in committee would have required the Committee to review his returns. Yet again, Members in the majority voted it down, instead choosing to remain complicit in keeping the President’s tax returns hidden.

This tax bill would provide a massive windfall to corporations and the wealthiest Americans on the backs of middle class taxpayers in New Jersey, while blowing a $1.5 trillion hole in the deficit - setting the stage for further cuts to Medicare and other programs and services that Americans rely on.

You can find my floor statement on the legislative malpractice of this tax bill here.

The final bill has yet to come to the floor for a vote and is currently being worked out in a conference committee. In the meantime, I will keep fighting to stop this tax scam and invite you to join me in righting this course. I encourage you to stay updated on my work in Congress by visiting my website, Facebook, Youtube, and Twitter pages.

Sincerely,
Bill Pascrell Jr.
Member of Congress

Office Locations
Washington Office
2370 Rayburn Building
Washington, DC 20510
Tel: (202) 225-5751
Fax: (202) 225-5782 Paterson Office
Robert A. Roe Federal Building
200 Federal Plaza, Suite 500
Paterson, NJ 07505
Tel: (973) 523-5152
Fax: (973) 523-0637

Not taking sides.....but it is somewhat comical to read politicians complaining that their poor residents will now not be able to deduct the HIGH TAXES those same politicians have placed upon us! I mean....it is a bit hypocritical to complain that the high income and property taxes....that were created and levied by the same politicians....cannot be deducted. So, it is the Federal Gov't's job to take some of the burden and blame off these high cost states, by allowing deductions to ease the pain inflicted.

Yes I live here...yes I pay these high taxes....and yes I will be hurt by the loss of the deduction. That doesn't change the fact that the arguments being put forth are hypocritical at best.....look in the mirror....do something to REDUCE those taxes.....eliminate "home rule"....stabilize and make realistic the gov't employee pension costs....rid the gov't of waste....

Ah, but alas, those would be hard decisions...real tough work....so, it is easier to simply blame someone else....in this case, the Federal Govt/Trump/Republicans.

it is why I am an independent...really cant stand the "everyone to their corners" politics that is rampant....but this argument? is laughable...

 

[cernjSHU]

I know on previous threads we have been debating the pros & cons of the proposed federal tax plan. In that light, as I also know Congressman Pascrell is an SHU basketball fan, I wanted to post my response to the e-mail I received from today on that same subject: (Because of character limitations I will post his e-mail on another thread.)

Dear Congressman Pascrell,

Thank you for your communication regarding the soon to be passed Republican Tax Plan - Your interest in it is appreciated but your reasoning regarding it is very flawed. You and all those who are opposing it, are not looking at the bill's big picture impact in how it will greatly benefit all Americans, particularly those in the middle class.

Two important items that you failed to mention in your e-mail regarding the bill - All tax brackets will receive a reduction in their rates and the standard deduction will almost double to $24,000.00. The tax rate reduction speaks for itself. However currently more than 60% of taxpayers are using the standard deduction, so by never having a need to itemize, the elimination of the SALT deduction will not affect these taxpayers whatsoever. Under the new plan the amount of those using the standard deduction, is estimated to increase to 85% encompassing just about all in the middle class. So only about 15% of taxpayers will have to pay more in all likelihood high tax states as a result of the change. However these taxpayers are the more affluent or so called rich, that Democrats are so fond of saying are getting the biggest tax break in this plan. This element of the plan, puts a big hole in that type of reasoning.

The biggest benefit of the plan for all comes with the large reduction in the corporate tax rate from 35% to 21%. This was a widely known element of Donald Trump's election campaign. Ultra liberal economist Paul Krugman, predicted because of this plan, if Trump was elected, Wall Street, knowing of this, would crash the day after the election. Krugman was so wrong, that his prediction now is so redicklously laughable! Far from crashing, the market since the election has hit 86 all time highs! The cause of this is the direct anticipation of his tax plan being implemented.

I am not a rich person, but I am very happy to state that my non real estate, net worth has increased since the election by 30%! I am sure others like myself in the middle class have also seen such increases. When the plan passes, I really foresee that the market increases will only get better! The stock market with the proliferation of 401k work plans and individual IRA plans are very much the norm with the middle class and even with many in the lower income levels. More and more of the baby boomer generations are retiring and as all of this new equity is circulated into the economy, a snowball ripple effect will greatly benefit positively ALL in our economy. It is important to point out that this snowball effect, will not come down the hill in a TRICKLE but rather more like a WATERFALL!

Please like I am, look at the bill's big picture impact on all in the economy, and decide to set yourself apart from your peers and vote for the bill!

I would appreciate very much a personal response back my you regarding my request!

Sincerely,
Bob Silvestri
Romarsi Pesto
Owner/Sales Director
973-773-6040
www.romarsi.com

Pesto, I think you are a true American that will actually be happy to pay more in federal taxes and Be glad to do it for the benefit of billionaires and corporations. Oh yes, and the middle class will be able To average $1000 to $2000 in tax savings which according to Cohn can be used to purchase a new kitchen.

Yes, it is the fault of states like California, NY, NJ who send more of their tax dollars and receive only 75% of federal dollars back to subsidize states in the Midwest and south. It is fantastic that people will be double taxed. The elimination of SALT deductions will hurt New Jerseyans. Those of you that own a primary house Andy a secondary house like those at the NJ shore will surely suffer when you can’t deduct it. Because you will be so fortunate to have a standard deduction. Of 12k for a single payer and 24k for a married couple.
Moreover, some people’s tax rate will actually increase.

Jeez, will you wake up and see the devastating impact that is being targeted on states like NJ? We are.being treated unfairly. And you just bend over and say, thank you may I have another.

 

[shu09]

Pesto, I think you are a true American that will actually be happy to pay more in federal taxes and Be glad to do it for the benefit of billionaires and corporations. Oh yes, and the middle class will be able To average $1000 to $2000 in tax savings which according to Cohn can be used to purchase a new kitchen.

Yes, it is the fault of states like California, NY, NJ who send more of their tax dollars and receive only 75% of federal dollars back to subsidize states in the Midwest and south. It is fantastic that people will be double taxed. The elimination of SALT deductions will hurt New Jerseyans. Those of you that own a primary house Andy a secondary house like those at the NJ shore will surely suffer when you can’t deduct it. Because you will be so fortunate to have a standard deduction. Of 12k for a single payer and 24k for a married couple.
Moreover, some people’s tax rate will actually increase.

Jeez, will you wake up and see the devastating impact that is being targeted on states like NJ? We are.being treated unfairly. And you just bend over and say, thank you may I have another.

If you own two houses in New Jersey, you are wealthy. Very wealthy. So you want those people to continue getting tax breaks. Interesting. On one hand you're advocating tax breaks for the same people you want to raise taxes on with the other hand! Can't make this stuff up.

 

[cernjSHU]

If you own two houses in New Jersey, you are wealthy. Very wealthy. So you want those people to continue getting tax breaks. Interesting. On one hand you're advocating tax breaks for the same people you want to raise taxes on with the other hand! Can't make this stuff up.

Lol owning two houses is being very wealthy? Do you think you need to earn $400,000 a year to own two houses? You don't think people who earn considerably less own more than two houses? I don't think you have a clue about what is or isn't wealthy. Let me inform you that you there are many middle class people who worked their asses off and saved for their modest house at the shore and their primary home up north. These hard working people don't have their second home in Deal, but maybe they have their small piece of the shore in other areas not so exclusive.

 

[anon_ezos2e9wn1ob0]

Maybe this bill is the kick in the ass that NJ politicians needs to solve our egregious tax problem.

 

[shu09]

Lol owning two houses is being very wealthy? Do you think you need to earn $400,000 a year to own two houses? You don't think people who earn considerably less own more than two houses? I don't think you have a clue about what is or isn't wealthy. Let me inform you that you there are many middle class people who worked their asses off and saved for their modest house at the shore and their primary home up north. These hard working people don't have their second home in Deal, but maybe they have their small piece of the shore in other areas not so exclusive.

Your definition of middle class is far off base.

 

[cernjSHU]

Maybe this bill is the kick in the ass that NJ politicians needs to solve our egregious tax problem.

While our property tax issues need to be corrected, there is a reason why we pay more here than Alab

Your definition of middle class is far off base.

Really? A single mother who is a nurse that earns $100k a year. This person owns two homes. I know plenty of people that earn approximately $100k and own two homes. Hard working people who dedicated their lives for this. This is middle class in N.J. is this your definition of very wealthy???

 

[Merge]

Really? A single mother who is a nurse that earns $100k a year. This person owns two homes. I know plenty of people that earn approximately $100k and own two homes. Hard working people who dedicated their lives for this. This is middle class in N.J. is this your definition of very wealthy???

A lot of retired people as well actually... but I think their fix is fairly easy if it’s a beach house. They just have to be renting it out and they can deduct the taxes.

 

[anon_ezos2e9wn1ob0]

While our property tax issues need to be corrected, there is a reason why we pay more here than Alab


Really? A single mother who is a nurse that earns $100k a year. This person owns two homes. I know plenty of people that earn approximately $100k and own two homes. Hard working people who dedicated their lives for this. This is middle class in N.J. is this your definition of very wealthy???

I have to question someone owning two homes on a 100k salary in NJ. That is their choice, but don't complain when that lifestyle is hard to maintain. People need to live within their means.

 

[shu09]

While our property tax issues need to be corrected, there is a reason why we pay more here than Alab


Really? A single mother who is a nurse that earns $100k a year. This person owns two homes. I know plenty of people that earn approximately $100k and own two homes. Hard working people who dedicated their lives for this. This is middle class in N.J. is this your definition of very wealthy???

Someone earning $100k who owns two homes is very likely living beyond their means. That's financial irresponsibility.

 

[shu09]

I have to question someone owning two homes on a 100k salary in NJ. That is their choice, but don't complain when that lifestyle is hard to maintain. People need to live within their means.

Exactly!

 

[dcPirate]

Someone earning $100k who owns two homes is very likely living beyond their means. That's financial irresponsibility.

What if that second home is an investment property the owner rents for the summer season to cover essentially the entire cost of owning it...is that financial irresponsibility? Personally I would call that a smart investment by someone who appears to be in the middle class from an income perspective.

You can't paint everyone with such a broad brush. I'm sure there are many folks who are financially irresponsible. However, unless you know the facts, how do you know the situation??

 

[Halldan1]

Just an FYI....I will be moving this to Off the Ship in a short while. Just giving a heads up here for otiose that want to continue the conversation.

 

[shu09]

What if that second home is an investment property the owner rents for the summer season to cover essentially the entire cost of owning it...is that financial irresponsibility? Personally I would call that a smart investment by someone who appears to be in the middle class from an income perspective.

You can't paint everyone with such a broad brush. I'm sure there are many folks who are financially irresponsible. However, unless you know the facts, how do you know the situation??

Fair point, but it depends on the individual's situation. I have a hard time believing most of the two home owners are in the boat you just described. In cern's example, if you're single and make $100k, you're not middle class. You're one level above it. A family, on the other hand, I would consider that middle class.

 

[dcPirate]

Fair point, but it depends on the individual's situation. I have a hard time believing most of the two home owners are in the boat you just described. In cern's example, if you're single and make $100k, you're not middle class. You're one level above it. A family, on the other hand, I would consider that middle class.

I agree on the "situation" part. However, cern referenced a single mother, which is a big difference than a single woman when determining middle class (imo).

 

[shu09]

I agree on the "situation" part. However, cern referenced a single mother, which is a big difference than a single woman when determining middle class (imo).

That was well after the conversation started. I don't know why he would use that as a random example. But it goes to my point that it depends on the situation. How many kids? What towns are the homes in and where specifically? Too many hypotheticals.

 

[dcPirate]

That was well after the conversation started. I don't know why he would use that as a random example. But it goes to my point that it depends on the situation. How many kids? What towns are the homes in and where specifically? Too many hypotheticals.

Agreed...time to move on to the more pressing topic happening at The Hall unfortunately...ugh.

 

[SPK145]

How come nobody (Pascrell, cern) are bitching that NJ also only allows you to deduct $10,000 in property taxes??

 

[cernjSHU]

How come nobody (Pascrell, cern) are bitching that NJ also only allows you to deduct $10,000 in property taxes??

I agree with you. However, the percentages being taxed are vastly different between state and federal.

 

[Merge]

How come nobody (Pascrell, cern) are bitching that NJ also only allows you to deduct $10,000 in property taxes??

Probably because that happened 20 years ago and no one is taking about lowering that to increase taxes now?

 

[Pesto Pirate]

I am extremely happy that as of this morning the bill is a fate de complete! For those of you against it, take solace in the fact that as Democrat John Kennedy remarked in the early 1960s when his tax cut bill passed - A rising tide lifts all boats! Whether or not you realize it or not now, the passage will effect you very positively in the long run one way or another! GO NEW TAX PLAN! GO PIRATES!

 

[Merge]

I am extremely happy that as of this morning the bill is a fate de complete! For those of you against it, take solace in the fact that as Democrat John Kennedy remarked in the early 1960s when his tax cut bill passed - A rising tide lifts all boats! Whether or not you realize it or not now, the passage will effect you very positively in the long run one way or another! GO NEW TAX PLAN! GO PIRATES!

Giving me an extra thousand dollars per year is not worth the increase to our debt.
I’m not rooting against it, I just think this is poor economic policy long term.

 

[HALL85]

Giving me an extra thousand dollars per year is not worth the increase to our debt.
I’m not rooting against it, I just think this is poor economic policy long term.

Were you that upset about the increase in our debt over the past 16 years?

 

[SPK145]

Giving me an extra thousand dollars per year is not worth the increase to our debt.
I’m not rooting against it, I just think this is poor economic policy long term.

Not if coupled with spending reform.

 

[Merge]

Were you that upset about the increase in our debt over the past 16 years?

Some yes, some no. Not all spending is the same... but an increase just so rich people can keep more money is a mistake.

The rich have done very well since the recession. They don’t need the break.

 

[shu09]

Gotta love class warfare. The leftist playbook.

 

[Section112]

Not if coupled with spending reform.

That is the key to this working. Politicians on both sides like to spend. They are not so good at making the tough decisions to cut costs.

 

[Merge]

Gotta love class warfare. The leftist playbook.

It’s not class warefare. This is about our economy.

The wealthy have done incredibly well the last 10 years. They do not need a hand out at the cost of increasing our national debt.

That is bad policy.

 

[shu09]

It’s not class warefare. This is about our economy.

The wealthy have done incredibly well the last 10 years. They do not need a hand out at the cost of increasing our national debt.

That is bad policy.

The bill is not class warfare. Your mindset is.

 

[Merge]

The bill is not class warfare. Your mindset is.

You think it is. That’s fine, but my opinions here are based on my understanding of our economy and economic impact.

I’m not anti wealth. I have said many times here that the appropriate time to reduce taxes on the wealthy is when middle class incomes are rising. We’re not there yet.

 

[SPK145]

It’s not class warefare. This is about our economy.

The wealthy have done incredibly well the last 10 years. They do not need a hand out at the cost of increasing our national debt.

That is bad policy.

What a crock, it's not a handout, it's their/our money first. Leftists forget this.

 

[Merge]

What a crock, it's not a handout, it's their/our money first. Leftists forget this.

Like it or not, we have a progressive tax system to fund our government.

This bill uses borrowed money to provide over 80% of this 1.5 trillion dollar cut to the ultra wealthy. (Top1%)

Use whatever word you would like to describe that. I’ll stick with mine.

 

[shu09]

The top 1% (just for example) of income earners account for more than 90% of the taxes paid by every other income level combined. They pay more than their fair share already under our progressive tax system.

They will continue to foot the majority of the bill to fund our government. This bill actually shifts even more of the tax burden on higher income brackets.

 

[Merge]

The top 1% (just for example) of income earners account for more than 90% of the taxes paid by every other income level combined. They pay more than their fair share already under our progressive tax system.

Your numbers are not correct. Top 10% of earners pay in about 70% of taxes. Top 1% is around 40%?

More than their fair share is certainly debatable, I tend to disagree.

 

[shu09]

Your numbers are not correct. Top 10% of earners pay in about 70% of taxes. Top 1% is around 40%?

More than their fair share is certainly debatable, I tend to disagree.

Google "us tax burden by income level" and what I posted is the first result that comes up.

https://taxfoundation.org/summary-latest-federal-income-tax-data-2015-update/

 

[Merge]

I think the way it was worded made it sound like you were implying the top 1% paid in 90% of taxes. Sorry if I misunderstood.

“The share of income earned by the top 1 percent of taxpayers fell to 19.0 percent in 2013. Their share of federal income taxes fell slightly to 37.8 percent”

So they paid in 37.8%.

And that amount his higher than the bottom 90% pay in. I see what you are saying now. The “every other income level” threw me off.