General Discussion

brokephibroke

(1,883 posts) Sat Jun 24, 2017, 10:16 AM Jun 2017

Ratio of pain

I wonder what the ratio of folks making more than $250k who will get tax cuts is to those who will 1) pay more for insurance and 2) will lose insurance is.

We know 23,000,000 will lose insurance. Just need the number of folks getting the huge cuts...

9 replies

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Ratio of pain (Original Post) brokephibroke Jun 2017 OP

2.5:23 or about 1:10 brokephibroke Jun 2017 #1

hard to say exactly, but i'm getting 12.4 million for tax year 2014: unblock Jun 2017 #2

I'm actually in the high income category Mr. Ected Jun 2017 #3

That is a good question brokephibroke Jun 2017 #4

Btw, yesterday I interviewed a couple wealth managers brokephibroke Jun 2017 #5

They're lying. unblock Jun 2017 #7

You know the bs story brokephibroke Jun 2017 #8

Map of those most adversely affected by Trumpcare (in red) Mr. Ected Jun 2017 #6

This kind of answers my question brokephibroke Jun 2017 #9

brokephibroke

(1,883 posts)

1. 2.5:23 or about 1:10

Reply to brokephibroke (Original post)

Sat Jun 24, 2017, 10:20 AM

Jun 2017

So for every one person getting a nice cut, about 10 lose insurance.

That is the GOP today....

unblock

(52,253 posts)

2. hard to say exactly, but i'm getting 12.4 million for tax year 2014:

Reply to brokephibroke (Original post)

Sat Jun 24, 2017, 10:26 AM

Jun 2017

https://www.irs.gov/uac/soi-tax-stats-individual-statistical-tables-by-size-of-adjusted-gross-income#_grp1

this is a count of all tax returns with adjusted gross income over $200,000.

the tax cuts benefits people with payroll or investment income over $200,000 ($250,000 if married).
so some of these returns aren't going to benefit (a few marrieds won't have $250,000 of payroll or investment income).
but then it's missing some, because it's possible to have over $200,000 of payroll income, but by the time you count all the exemptions and deductions, the adjusted gross income is under $200,000.

but i think this is the right ball park.

i included "non taxable returns" because i think even if a return is not subject to income tax, it would still be subject to the payroll tax. i'm not sure this is right.

Mr. Ected

(9,670 posts)

3. I'm actually in the high income category

Reply to brokephibroke (Original post)

Sat Jun 24, 2017, 10:26 AM

Jun 2017

I would gladly eschew my tax cut in order to contribute to insurance costs for others.

I wonder how many others "like me" there may be...and how we may be able to band together to fight this cruel legislation and circumvent to a certain degree this redistribution of wealth.

brokephibroke

(1,883 posts)

4. That is a good question

Reply to Mr. Ected (Reply #3)

Sat Jun 24, 2017, 10:35 AM

Jun 2017

Getting the folks who benefit greatly by the wealth transfer to fight against the bill would be powerful and good for the country. But organizing such a coalition would be tough. Maybe strart organizing at COSTCO?

brokephibroke

(1,883 posts)

5. Btw, yesterday I interviewed a couple wealth managers

Reply to Mr. Ected (Reply #3)

Sat Jun 24, 2017, 10:48 AM

Jun 2017

One of them was extremely pro ACHA in that it would set the stage for Dow 30k. Just goes to show the greed over country...

unblock

(52,253 posts)

7. They're lying.

Reply to brokephibroke (Reply #5)

Sat Jun 24, 2017, 11:46 AM

Jun 2017

Wealth managers know that a plan that cuts taxes 3.8% for only the wealthy, destroys a market for insurance companies, and drives 20 million people out of the health care market isn't going to drive the Dow up 35%.

They're selling it because they're greedy and they want the tax cut for themselves. And as a bonus they're also touting the market which drums up business for themselves.