If you are standing on a battlefield, looking down on the hostile forces gathered to attack you and they start hitting each other over the head with swords and clubs and sticks, it is definitely time to rejoice.
Sadly, the Big Bad Budget Bill resembles nothing that is by the people, of the people or for the people. What I want is for the Republicans to sober up and:
1. tell Trump its a big fat no for renewing the 2017 tax cuts
2. Take Medicaid cuts off the table
3. Put a hold on all DOGE cuts until a more thoughtful evaluation can be done
4. Restore NIH, CDC, VA, NOAH, National Park staffing and FEMA cuts completely
5. Do something constructive about immigrants being able to enter this country without waiting 15 years.
6. Remove all that creepy autocratic shot buried in the bill.
Yeah, I know total fantasy... But hey, that's an example of what I want and what I say I want to anyone who will listen. I am certain I have mentioned these things when I have called/written my democratic reps and senators.
Having said all that I fear this bill will pass before people are aware of all the creepy autocratic stuff that Trump will use to become the dictator we never imagined we would have. I would like to be wrong about this--- We cannot give up--- no matter what.
No, let's push them like hell to take advantage of this situation. It's Jeffries who has to be aggressive, because the Republicans have enough vote in the Senate to do whatever they want.
Making the tax cuts from 2017 permanent doesn’t mainly go to “millionaires and billionaires” it applies to all individual tax payers, and to the extent the rich get bigger cuts is only in that they pay most federal income taxes. The SALT deduction, even at $30,000 only impacts the richest income earners in rich high tax states (CA, NY, NJ) so it is the real handout to the wealthy, even though that caucus claims it is for the middle class, especially if they remove the income cap and raise it above $60,000 that they are demanding. I hope the Freedom caucus wins out over the SALTs.
There is no income cap now for the $10,000 deduction, the house proposal for the $30,000 deduction has a $200,000 individual and $400,000 joint income cap but the SALT caucus wants to remove those caps.
The biggest tax increase on people now in the middle class has already been imposed by Trump alone, which is the huge tax on inputs known as reciprocal tariffs, which everyone who buys clothing, eats bananas or drinks coffee, or shops at Walmart will soon be paying.
A couple making $400,000 in California will pay $29,500 in state income tax, so they will get almost the full deduction. I prefer that federal taxes not subsidize high income tax states at all, so I want the entire SALT deduction to be eliminated. And if they only make $20,000 their state income tax would be $10,850, so raising the cap gives them only an $850 deduction, the deduction is not a middle class deduction.
With the national debt rising at terrifying rate, I think it's time for people with incomes over 400,000 a year to pay substantially more taxes. If the 2017 tax cuts are extended, based on a nonpartisan Joint Committee on Taxation analysis, they calculate that people making less than $50,000 per year would get $263 in tax relief while those making over $1 million would get more than $81,000.
For 2016, the federal income tax brackets for single filers were:
• 10% for taxable income up to $9,275
• 15% for taxable income from $9,276 to $37,650
• 25% for taxable income from $37,651 to $91,150
• Higher rates apply beyond $91,150, but they are irrelevant here.
Standard Deduction for 2016:
The standard deduction for a single filer in 2016 was $6,300.
Personal Exemption for 2016:
The personal exemption amount in 2016 was $4,050 for single filers (not phased out at $50,000 income).
Taxable Income Calculation:
• Gross income: $50,000
• Minus standard deduction: $50,000 - $6,300 = $43,700
• Minus personal exemption: $43,700 - $4,050 = $39,650 taxable income
Tax Calculation:
• 10% bracket: First $9,275 of taxable income Tax = $9,275 × 0.10 = $927.50
• 15% bracket: Taxable income from $9,276 to $37,650 Taxable amount = $37,650 - $9,275 = $28,375 Tax = $28,375 × 0.15 = $4,256.25
• 25% bracket: Taxable income from $37,651 to $39,650 Taxable amount = $39,650 - $37,650 = $2,000 Tax = $2,000 × 0.25 = $500.00
• Total tax: $927.50 + $4,256.25 + $500.00 = $5,683.75
Federal income tax for 2016: $5,683.75
Comparison
• 2025 Federal Income Tax: $3,961.50
• 2016 Federal Income Tax: $5,683.75
• Difference: $5,683.75 - $3,961.50 = $1,722.25 less tax in 2025
Key Reasons for the Difference:
1. Higher Standard Deduction in 2025: The 2025 standard deduction ($15,000) is significantly larger than the 2016 standard deduction ($6,300) plus personal exemption ($4,050), reducing taxable income more in 2025.
2. Tax Bracket Adjustments: The 2025 brackets have lower rates for similar income ranges (e.g., 12% vs. 15% for much of the income) and are adjusted for inflation, covering more income at lower rates.
3. Elimination of Personal Exemption: The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated personal exemptions starting in 2018, but the increased standard deduction in 2025 more than offsets this for most taxpayers at this income level.
Brilliantly written. Better than I could have by far, Kathleen.
thanks, sweetie!
Sadly, the Big Bad Budget Bill resembles nothing that is by the people, of the people or for the people. What I want is for the Republicans to sober up and:
1. tell Trump its a big fat no for renewing the 2017 tax cuts
2. Take Medicaid cuts off the table
3. Put a hold on all DOGE cuts until a more thoughtful evaluation can be done
4. Restore NIH, CDC, VA, NOAH, National Park staffing and FEMA cuts completely
5. Do something constructive about immigrants being able to enter this country without waiting 15 years.
6. Remove all that creepy autocratic shot buried in the bill.
Yeah, I know total fantasy... But hey, that's an example of what I want and what I say I want to anyone who will listen. I am certain I have mentioned these things when I have called/written my democratic reps and senators.
Having said all that I fear this bill will pass before people are aware of all the creepy autocratic stuff that Trump will use to become the dictator we never imagined we would have. I would like to be wrong about this--- We cannot give up--- no matter what.
Let’s leave it in the hands of Chuck Schumer and Hakeem Jeffries.
Hahahahahaha
No, let's push them like hell to take advantage of this situation. It's Jeffries who has to be aggressive, because the Republicans have enough vote in the Senate to do whatever they want.
Making the tax cuts from 2017 permanent doesn’t mainly go to “millionaires and billionaires” it applies to all individual tax payers, and to the extent the rich get bigger cuts is only in that they pay most federal income taxes. The SALT deduction, even at $30,000 only impacts the richest income earners in rich high tax states (CA, NY, NJ) so it is the real handout to the wealthy, even though that caucus claims it is for the middle class, especially if they remove the income cap and raise it above $60,000 that they are demanding. I hope the Freedom caucus wins out over the SALTs.
The SALT deductions apply only to those making under $400,000 a year in income, If you want to call a person making $300,000 a year middle class. ;)
There is no income cap now for the $10,000 deduction, the house proposal for the $30,000 deduction has a $200,000 individual and $400,000 joint income cap but the SALT caucus wants to remove those caps.
The biggest tax increase on people now in the middle class has already been imposed by Trump alone, which is the huge tax on inputs known as reciprocal tariffs, which everyone who buys clothing, eats bananas or drinks coffee, or shops at Walmart will soon be paying.
A couple making $400,000 in California will pay $29,500 in state income tax, so they will get almost the full deduction. I prefer that federal taxes not subsidize high income tax states at all, so I want the entire SALT deduction to be eliminated. And if they only make $20,000 their state income tax would be $10,850, so raising the cap gives them only an $850 deduction, the deduction is not a middle class deduction.
With the national debt rising at terrifying rate, I think it's time for people with incomes over 400,000 a year to pay substantially more taxes. If the 2017 tax cuts are extended, based on a nonpartisan Joint Committee on Taxation analysis, they calculate that people making less than $50,000 per year would get $263 in tax relief while those making over $1 million would get more than $81,000.
https://www.reuters.com/world/us/republicans-embrace-trumps-populist-tax-push-with-midterms-mind-2025-05-15/
2016 Federal Income Tax Calculation
Tax Brackets for 2016 (Single Filer):
For 2016, the federal income tax brackets for single filers were:
• 10% for taxable income up to $9,275
• 15% for taxable income from $9,276 to $37,650
• 25% for taxable income from $37,651 to $91,150
• Higher rates apply beyond $91,150, but they are irrelevant here.
Standard Deduction for 2016:
The standard deduction for a single filer in 2016 was $6,300.
Personal Exemption for 2016:
The personal exemption amount in 2016 was $4,050 for single filers (not phased out at $50,000 income).
Taxable Income Calculation:
• Gross income: $50,000
• Minus standard deduction: $50,000 - $6,300 = $43,700
• Minus personal exemption: $43,700 - $4,050 = $39,650 taxable income
Tax Calculation:
• 10% bracket: First $9,275 of taxable income Tax = $9,275 × 0.10 = $927.50
• 15% bracket: Taxable income from $9,276 to $37,650 Taxable amount = $37,650 - $9,275 = $28,375 Tax = $28,375 × 0.15 = $4,256.25
• 25% bracket: Taxable income from $37,651 to $39,650 Taxable amount = $39,650 - $37,650 = $2,000 Tax = $2,000 × 0.25 = $500.00
• Total tax: $927.50 + $4,256.25 + $500.00 = $5,683.75
Federal income tax for 2016: $5,683.75
Comparison
• 2025 Federal Income Tax: $3,961.50
• 2016 Federal Income Tax: $5,683.75
• Difference: $5,683.75 - $3,961.50 = $1,722.25 less tax in 2025
Key Reasons for the Difference:
1. Higher Standard Deduction in 2025: The 2025 standard deduction ($15,000) is significantly larger than the 2016 standard deduction ($6,300) plus personal exemption ($4,050), reducing taxable income more in 2025.
2. Tax Bracket Adjustments: The 2025 brackets have lower rates for similar income ranges (e.g., 12% vs. 15% for much of the income) and are adjusted for inflation, covering more income at lower rates.
3. Elimination of Personal Exemption: The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated personal exemptions starting in 2018, but the increased standard deduction in 2025 more than offsets this for most taxpayers at this income level.
My point was that the rich need to pay more. I would like to see the 2017 tax cuts extended for everyone making under$400,000.