sundin13 said:
CosmicSex said:
Tax increases affect middleclass income more way more than it affects rich income. This is self evident because having less money to begin with makes this the case. Period. I just can''t condone. paying more taxes as a middle class earner when the rich are trying to pay less. And remember we are talking about percentages here. For the impaired, I have prepared a word problem to help illustrate this:
Worker One is paid $1000 and is asked to pay 20% in taxes. He has $800 left to survive him until his next pay.
Worker Two is paid $10,000 and is asked to pay 30% in taxes. He is left with $7000 to survive (lol) until next pay.
Worker Two is a douche. He thinks he pays to much in taxes and wants to pay 5% less and think that Worker One should pay 5% more of his pay to support his cut (even though that is mathematically impossible). Worker Two buys politician and changes the tax code. Now:
Worker One is paid $1000 and is asked to pay 25% in taxes. Now he only has $750 to survive until next pay.
Worker Two is paid $10000 and is asked to pay 25% in taxes. Now he gets $7500 to survive on until next pay.
Tax revenue has decreased by $450 and Worker ones income has been reduced in a more real world manner than Worker two income has been increased.
In fantasy world people will say that its stealing to tax the rich but in reality the poor has to pay for it (never calling it stealing) and revenue is decreased without lowering spending. This small example shows how to explode the deficit while making the majority of your people poorer at the same time
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To use figures more accurately representing this tax plan:
Worker One is paid $1000 and is asked to pay 20% in taxes. Now, under Trump's "Everybody saves!" plan, he "only" has to pay 19.8% in taxes, saving him a whopping $2 per paycheck.
Worker Two is paid $10000 and is asked to pay 30% in taxes. Now, under Trump's "Everybody saves!" play, he only has to pay 21.9% in taxes, saving him "only" $810 per paycheck.
Pretty much everybody is getting an infinitesimally small benefit in terms of after-tax income, except the top 5% who are going to be making up to 10% more.
PS: I'm not trying to argue with you, just adding to what you are saying.
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How much does worker one get back at the end of the year? How much does worker two get back at the end of the year?
