No one making less than $400,000 a year would see their taxes go up under the plan. Instead, Ms. Harris is seeking to significantly raise taxes on the wealthiest Americans and large corporations. Congress has previously rejected many of these tax ideas, even when Democrats controlled both chambers.
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Year Top Marginal Tax Rate Congress President
1980 70.00% 🟦 Jimmy Carter
1981 69.13% (🟦🟥) Ronald Reagan
1982 50.00% (🟦🟥) Ronald Reagan
1983 50.00% (🟦🟥) Ronald Reagan
1984 50.00% (🟦🟥) Ronald Reagan
1985 50.00% (🟦🟥) Ronald Reagan
1986 50.00% (🟦🟥) Ronald Reagan
1987 38.50% 🟦 Ronald Reagan
1988 28.00% 🟦 Ronald Reagan
1989 28.00% 🟦 George H.W. Bush
1990 28.00% 🟦 George H.W. Bush
1991 31.00% 🟦 George H.W. Bush
1992 31.00% 🟦 George H.W. Bush
1993 39.60% 🟦 Bill Clinton
1994 39.60% 🟦 Bill Clinton
1995 39.60% 🟥 Bill Clinton
1996 39.60% 🟥 Bill Clinton
1997 39.60% 🟥 Bill Clinton
1998 39.60% 🟥 Bill Clinton
1999 39.60% 🟥 Bill Clinton
2000 39.60% 🟥 Bill Clinton
2001 39.10% 🟥 George W. Bush
2002 38.60% 🟥 George W. Bush
2003 35.00% 🟥 George W. Bush
2004 35.00% 🟥 George W. Bush
2005 35.00% 🟥 George W. Bush
2006 35.00% 🟥 George W. Bush
2007 35.00% 🟦 George W. Bush
2008 35.00% 🟦 George W. Bush
2009 35.00% 🟦 Barack Obama
2010 35.00% 🟦 Barack Obama
2011 35.00% (🟦🟥) Barack Obama
2012 35.00% (🟦🟥) Barack Obama
2013 39.60% (🟦🟥) Barack Obama
2014 39.60% (🟦🟥) Barack Obama
2015 39.60% 🟥 Barack Obama
2016 39.60% 🟥 Barack Obama
2017 39.60% 🟥 Donald Trump
2018 37.00% 🟥 Donald Trump
2019 37.00% (🟦🟥) Donald Trump
2020 37.00% (🟦🟥) Donald Trump
2021 37.00% (🟦🟥) Joe Biden
2022 37.00% (🟦🟥) Joe Biden
2023 37.00% (🟦🟥) Joe Biden
KEY [Congressional Control: Democrat🟦 Republican🟥 Split(🟦🟥)] [President: Republican Democrat]
shamelessly copied from a reddit comment - sue me
Great visuals!
Looks like Reagan did a good job…
He’s responsible for killing America. All our major economic problems caused by reinstating the policies that caused the great depression , and we’re surprised? No, we’re brain washed into believing that a gilded age to great depression cycle is good.
Yup Reagan is a totally grade A Asshole. He sucks and is responsible for lots of conservative shit.
But this grade one BS isn’t helping other than confuse his role in all that.
As long as a person knows what top marginal tax rate is, this isn’t particularly confusing and I think it’s pretty shitty of you to be so critical while doing to provide what you think is better formatted data.
Oh yea! Just have everyone calculate the top marginal tax rate!
Why don’t the children just format data?
As long as you keep moving goalposts then why not have the test of us do it as well?
What are you talking about? No calculations are necessary, just an understanding of what top marginal tax rate is and how it’s lowering correlates to Americans getting poorer.
What’s your deal? Lemmy is so exhausting with all the little wannabe Mean Girls weirdos like you being so snobby.
The fact that you make it a factor…
You are the one making this a deal maker, then turning around and acting like,it’s weird.
You think that taxing rich people less is a good thing? Or did you forget the /s?
Your comments are all super confusing
The visuals are confusing. It makes Reagan looks good despite him being completely awful. Sorry it didn’t come through
People really want to believe that her plan is terrible and would make regular people like them suffer more and pay more and it would destroy the middle class and aren’t we suffering enough! When it’s clearly only increased taxes for the very wealthy. It’s like their bias against democrats takes away reading comprehension.
I was told there’s no difference between Harris and Trump though
would see their taxes go up under the plan
That’s still a problem, we need our taxes to go down.
How to tell someone’s politics are bullshit:
- Their big priority is taxes going down
- They blame immigrants for things
- They hate “regulation”
How do you feel about 2 and 3?
Do you not agree your taxes this last year were too high? Is that the level you want them frozen at?
Dude they’re going to put me in prison for being a Democrat and shut down the elections in the future, they’re trying to deport all the Mexicans, everyone is fine with all of Palestine being exterminated (or close enough to “fine” not to stop it). The planet is dying, the oceans are boiling. A lot of places people used to live are literally killing the inhabitants now. All of Florida is so dangerous to housing that it’s functionally uninsurable.
So no, I don’t give a shit about my taxes, or yours. It’s also relevant that Biden / Harris have been making some attempt at income equality so that the rich will pay more than 0% tax and people will start to make more than 8 bucks an hour and rent will be less than half my income. But honestly, even those are sort of second tier concerns. As far as things I put genuine worry into, taxes don’t even come on the fucking radar, and if they do yours, I want your life.
The only thing they’re attempting is to stay in power. They don’t give a flying fuck about immigrants, Palestine, the planet, the oceans, Their primary concern is staying in power and it doesn’t matter if it’s the red fascist or the blue fascists. The outcome is the same. They all take money from the same corporations, from the same bankers, from the same lobbyists. for the same outcome.
it doesn’t matter if it’s the red fascist or the blue fascists
Ah haaaaaa
All of a sudden your totally bizarre take on what is important makes sense
Carry on
For future reference, I think the “lowering taxes is a SUPER important goal” stuff should be separated from the “I am SO far left that I can’t tell the difference between literal Nazis and insufficiently progressive centrists” stuff. It’s incongruous in a very weird way, and taxes are just not an issue that will get a lot of traction on Lemmy. Focus on Gaza instead.
And to answer your other 2 points, there are no immigrants/illegals on stolen land. and there should be no corporations so regulation wouldnt be needed.
Dude you can’t walk it back from “I make $400k a year, taxes are my chief concern” to abolishing corporations and saying you’re a communist now
I can send you my cash app if you want to do some “from each according to his ability” tho
Do you make more than $400,000 a year?
I do, and this last year every tax bracket except the rich saw a tax increase. Under this tax proposal it would keep Trump’s tax margin in place but wouldn’t go up. It needs to come back down to pre2017 levels.
What are you missing out on as a result of your current taxation level?
I’m not missing that at anything, If you’ll notice, I advocated lower taxes for people that had their taxes raised these last few years.
Why?
Oh cry us a river
Congratulations! Your income is higher than 99%+ of people in the country, and you (and the people who make obscene amounts more than even you a year) should be paying more in taxes.
You know what’s pre2017? 1980, and I agree with that.
You, umm… might wanna think about not talking while us vast-majority-of-the-working-class are discussing how we are going to eat the rich… just a thought. I know people in your tax bracket, and they are all wildly out of touch with society, just like you appear to be. The most I can make in my area, degreed and with skills and all, is 40k, literally 10x lower than what you make. And you have the absolute audacity to complain.
So… like… Nobody cares about your “struggle”. At all. Literally nobody ever. You are part of the problem as far as most people are concerned. And you probably actually are part of the problem to be whining like this, anyway.
Sure, the communist is so out of touch with society.
Fucking lol, yeah right homie, I’m unconvinced and all my comrades will be similarly.
I’m an actual anarcho-communist, and nothing you’ve said makes me think you have even the slightest idea what communism even is.
Im gonna wager Ive been an active communist longer than youve been alive
I’m gunna wager you’re a lying sack of shit and aren’t a communist at all. See, only one of us can be right, and it isn’t you :)
If you are a commie, prove it. Nothing you’ve said so far (and I’m not going to dig through your post history; I have standards.) leads a person to believe you… so make me believe you.
Strong disagree… it’s a problem because we need our taxes to go up so that we can actually fund public services without going into deeper debt. I’m cool with everyone under 80k not seeing a tax increase but the rest of us are paying unrealistically low taxes.
Federal taxes do not fuel government spending.
Depends on where those taxes are used. I really hate how much goes to our military instead of social services.
That is a quite fair concern, especially given what our military tends to do with that money.
I’d like to see people making 50k and under pay 0 in tax, but still get tax breaks in the form of refunds, and have those who make 400k+ and businesses make up the entirety of the lack. (Assuming we can’t do UBI for whatever conservative bullshit reason)
It’s much easier to do that way than the way we are doing it now with taking from people who have next to nothing to spare…
Way to miss the forest for the trees. Though you probably figured no one should bother to read the article:
The expiring measures included a broader standard deduction, lower marginal income rates for many Americans, and a generous deduction for owners of many closely-held businesses. The White House tax plan states that Americans making less than $400,000 should not see tax increases in a deal. That means that Ms. Harris wants to extend much of the Tax Cuts and Jobs Act, her Republican rival’s signature legislative accomplishment.
If we stopped spending extreme amounts on military operations unrelated to the US then we would be able to lower our taxes easily.
We also subsidize a lot of healthcare insurance companies so moving towards universal healthcare would ALSO lower our taxes Source
(Here’s a yale study showing that it would save Americans $450 Billion per year: Yale study)
Personally, I’m in favor of doing both of those but keeping our taxes exactly the same so we can use the extra money to either repay the national debt or fund a robust social services system that would give us significantly better living conditions overall (such as free lunches for kids in school and easy government assistance on housing).
Keeping taxes the same wouldnt result in repaying the debt, Or impacting social service system that will lead to better living conditions. It will still go into pockets of capitalists.
