Under Kucinich would your taxes go up or down?

What will happen to your taxes under Kucinich?

For most people, they will go down. The following chart gives a general idea of who will be asked to pay less, or more, than they currently pay:

http://www.kucinich.us/taxes_under_kucinich.php

:kick:

The big picture is what he's all about. :)

Coming from a background like his, I can well understand that this issue would be fairly high on his list of priorities.

go bankrupt and default on its loans.

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ignore funtcion good....baseless attack bad

the country is already going bankrupt.

Seems obvious, but I guess some of us need the obvious pointed out every so often!

:toast:

but instead of increasing and decreasing brackets, he needs to forget what they currently got on the board, and start from scratch.


Personally, I think they need to strip away the bullshit they got now, implement some kinda exponetial percentage curve whearas the botom 1% of income earners pay 1%*k tax, and the upper 1% pay 50%*k (where k is some factor <= 1 whearas aggregate sum of all tax is total required revenue), and everyone else follows right along that curve where they should be. Such a solution would satisfy liberalism...providing both an incentive to work (by leaving a 2 billion dollar earner with a billion bucks to buy stupid shit with) and an incentive to adhere to social rules in a system which some do not profit by (leaving a man who makes 4 thousand less reason to rob from the rich to earn the rest). Now look, everyone's happy...you not picking on the little guy, nor creating unprofitable environment for business (revolution and crime).


That would be a "progressive scheme". Isn't DK suppossed to be the progressive candidate. Why yes, I give him props on an excellent plan compared to others, but not quite fitting for his title, if you know what I mean. But again, a nice step in the proper direction.

Kucinich Proposes Progressive Tax Reform To Assist Workers and Families


http://www.house.gov/apps/list/press/oh10_kucinich/pr_031208.html

Monday, December 08, 2003

Kucinich Proposes Progressive Tax Reform To Assist Workers and Families

Progressive Tax Act of 2003 Introduced Today in the House of Representatives

Congressman Dennis J. Kucinich (D-OH), Co-Chair of the Congressional Progressive Caucus, today introduced the Progressive Tax Act of 2003, a bill that reforms the tax system to provide needed relief to workers and families.

The 2001, 2002, and 2003 Bush tax cuts have created a tax system that favors the wealthy over the working class. These tax cuts have complicated the tax code with more loopholes, and have saddled the federal treasury with record deficits.

In response, Kucinich has introduced bill that creates a more fair, simple, and adequate tax system. The Progressive Tax Act of 2003 gives $87 billion per year to people with modest income and families in the middle class. The bill collects an additional $107 billion per year from the Bush tax buts, corporate tax loopholes, and other tax giveaways. The bill therefore raises a sum total of $20 billion per year that remains available for deficit reduction or new spending.

First, the bill provides a refundable $1530 Payroll Tax Credit for people who work. This tax credit is simple, targeted to relieve a high tax burden, provides a stimulus effect, and encourages work.

Second, the bill provides a refundable $2000 Simplified Family Credit. This simplifies the tax code by consolidating the EITC, Child Tax Credit, Additional Child Credit, and exemption for children into one Simplified Family Credit. This tax credit will provide greater transparency, provide extra work incentives, and a stimulus effect.

To raise federal revenue the bill will close corporate loopholes and sets tougher penalties to prevent corporate tax shelter abuse. In addition, the bill will roll back most of the Bush tax cuts in the past three years that benefited the wealthy.

“Our tax system is in need of desperate repair,” stated Kucinich. “Tax cuts to the wealthiest one percent of Americans do not create jobs and do not increase wages for working people. The only way to real economic strength and security is to provide real tax relief to those who need it most, workers and families. This bill enables real economic growth and progressive tax reform while providing fiscal responsibility.”

For a complete summary of Kucinich’s bill click here.
http://www.house.gov/apps/list/press/oh10_kucinich/summary-of-tax-bill.pdf

how about yours?

My health care costs would be gone and replaced by a much smaller net payment in taxes. My expenditures on essentials would thus go down.

up or down. The site is broken into brackets showing what percent in each would go up or down. However, it does tell you how to determine which you are in. At best, the 1-5000 bracket, will have 43% with lower taxes but 1% with HIGHER taxes. How do you know which you fit into? My bracket has 53% with lower taxes but 15% with higher taxes. Mine have a better than half chance of going down but still a sizeable chance of increasing. I would guess I am in the higher bracket. No kids. Modestly high income. Single. I get too many tax breaks. (Bush's plan saved me $36 this year, which my state more than added.)

I think his tax plan is a good idea. But honestly, unless I missed something, it doesn't tell anyone what happens to thier tax situation.