My income is $36,500 a year, my federal tax rate is 15%, when Hillary is elected President, will my tax rate?

Question

increase, stay the same, or be lower?

Answer 1

From what she has said your tax rate would not change. However should you ever make more money the next couple of rates are likely to go up and a new higher top rate would be added. Historically when dems are in charge overall taxes go up.

Answer 2

Taxes are set by Congress, not the President. Regardless of who is elected, Congress could decide to have taxes increase, stay the same, or be lower.

If Congress does nothing, taxes will stay the same until the expiration of a tax cut that was passed a few years ago with a provision that it would automatically expire in a certain year, at which time taxes will automatically return to the levels that they would have been without that cut, unless Congress decides otherwise.

How do you know who will be elected?

Answer 3

Take a look at all of the things our democratic candidates are promising to do in the debates, and our democrat-controlled Congress is already trying to do.

All of the top tier candidates are arguing about whose health care program is the best, and all of them require hundreds of billions of dollars above and beyond our current "health care for poor children" (we call it Medicaid). We can't have this health care program without significantly higher taxes.

Hillary wants to put $5000 bonds into the hands of every newborn baby in the US, including those of illegal aliens, because under current law, being born in the US makes you a citizen. This will cause a baby boom among poor people, they will take the bonds and cash them immediately, and then try to get pregnant again. (Wouldn't you?) There are 4 million babies born in the US every year, so do the math. Total cost to the taxpayer: $20 billion. This will have the added benefit of forcing the value of the US dollar down as we flood the markets with newly printed money.

(Yes, sports fans, the printing of new treasury bonds is one of the strategies we use to control the value of the dollar.)

Congress is another story altogether. There have been so many proposals to raise taxes over the last 2 years that no one can count them. The most recent one was a proposal to charge Americans a surtax for every day that the president refuses to bring troops home from Iraq! These measures are not passing, but if we have a democrat in the white house, you can bet your parsimmons some of them will get through.

The truth is that any democrat elected to office means a better chance of paying higher taxes. This is no longer a slogan, they're proving it.

(Republican candidates are usually arguing about who has the best program for lowering taxes. Giuliani and Romney are at each other's throats over their tax cutting records, well among other things.)

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tom4bucs is wrong about the fair tax. Having a flat tax will be extremely good for rich people and extremely bad for poor people! Right now, people who make less than $25,000 usually don't pay taxes at all. With a fair tax, they will.

Um, that's why they call it "fair". Everyone pays.

Answer 4

well with socialized medicine ( in Canada 55% tax bracket and you still pay $100/month for health - when you can get an appt)

$5,000 for each newborn child
and $1,000 for everybody's IRA

we're gonna be in deep doo doo


guess she's trying to improve on a chicken in every pot - huh ?

(and where is the money for Social Security and Medicare coming from ??)

WANT TO KEEP MORE OF YOUR PAYCHECK??

Support the Fair Tax Act - good for ALL Americans

Answer 5

when hillary or should i say IF she becomes president god help us all