What a deceptively shitty chart. What the fuck am I looking at?
tax/eat the rich B)
Oh boy 2000 extra dollars. That’ll really turn things around for me…
That’s a month and a half of rent. You know what I would give to be a month and a half ahead on rent right now??
I mean it’d help a little but I doubt it would be life changing. It certainly won’t push the needle from struggling to living comfortably for me. Meanwhile the top 1% get their taxes raised by .01%. Woohoo.
It’s better than giving them a bigger break though right? That’s what the chart is supposed to show. It’s not supposed to change your life it’s just supposed to help you instead of hurt you.
I’m disabled and make less than $20k a year in SSDI. What’s in it for me? Oh and fuck Trump regardless.
Wait. Who am I voting for based on this graph if I’m making 200k, and why?
This is purposely not clear.
What do you mean this is purposely not clear? Is interpolation so hard for folks?
If you make $200k, you’re probably going to land somewhere between the $130k and $330k income levels, meaning your tax savings under Trump’s proposed plan will be between $4k and $9k, likely roughly $6.5k. For Harris’ proposed plan you’ll be between $3k and $2k, likely close to $2.5k.
Yes, the amounts aren’t linear, so it’s hard to say exactly where you will land, but also these are proposed plans, so they’re estimates to begin with. I wouldn’t be adjusting my personal budgeting off of a wish list from two people who do not control tax laws.
It doesn’t take a rocket scientist to understand from the chart that for most Americans (see, median household income $81k), Harris’s tax proposal will net more savings on their annual income, while Trump’s plan favors people in higher income brackets.
Trump’s plan will increase the national deficit because everyone pays less in taxes. Harris’ plan tries to be closer to revenue neutral by putting more of the tax burden on the top 1%.
Who you vote for is your decision, but the fact that we have a populous that can’t understand fairly straightforward tables to help inform decision-making is part of the reason why we are so fucked.
Then your income will increase by a little over $2000.
Don’t forget 2016 when Trump said he was going to cut taxes for all Americans and the plan Congress pushed through raised taxes on average by 4000 a year for middle and working class incomes. But the super rich got back millions and millions.
Do you lack the ability to think of others when looking at the graph?
You couldn’t have just spent that time explaining it rather than being snarky? This graph either says Donnie is raising my tax or my income will go up more.
Not everyone is always on top of their game and the smartest person on the Internet…
If everyone was voting what’s best for them according to this graph, the election would be a blowout win for Harris.
“but one day I might be a millionaire.”
“Not if you’re paying more taxes than millionaires”
Wtf? Why am I benefiting most under Harris? Shouldn’t the be the guys on the very bottom?
I mean, I’ll take it, but…weird?
(also fuck Trump, he can eat dirty diapers)
If the ultra rich pay a fair percentage, the tax burden falls for the rest of everyone.
Changing taxes levied on income doesn’t change the income itself. Do they mean remaining income after tax?
Are you guys taxed at the source or where does this confusion come from?
I thought the top 0.1% was more like $3 million. Either way it’s still an incredibly large amount of money for 1 in 1000 people to be making. With 131 million households that’s 131000 households making more than $14 million per year which is WILD. One in a thousand isn’t that uncommon, yet I’d never guess who were making that kind of money. They must just be living in completely separate spaces.
I think nearly 10% of the US population is millionaires (by wealth, not income) and the percentage is even more if you take home equity into account.
Say what you will about the country, but there isn’t a prosperity problem, only a rampant inequality problem.
Millionare in assets is vastly different than $1 million per year in income. It’s pretty much a requirement to have $1 million in assets to be able to retire lately and assuming years of compounding growth in the market this is pretty easily attainable by retirement for most (I know this is a big assumption but our whole economy is built on it).
“Millionaire in assets” is even less impressive when you factor in someone’s home value. Like, Zillow keeps telling me my condo is worth $350k. I guess I am worth that on paper, but it’s not liquid or “walking around” money.
Unless your mortgage is totally paid off you aren’t necessarily worth that much on paper.
Oh shit, trump would benefit me? Thanks for this I’m switching sides.
He paying for it with an increase of tariffs. 20% on everything and 60% on imports from China. If you want a new computer or TV, buy it this year before your man saves America.
Thought my sarcasm was obvious.
Nope. Should have added: /s
MAGA voters be like: Red scary, ugh.
Honestly they’re hoping you only look at the bottom big numbers and ignore your actual insurance bracket.
Still wants to turn the country red.
The ones that make 14 million or more would have AT LEAST $544,135 to waste on Trump propaganda (comes from 376,910 + 167,225)
Times 4 years
Now imagine inflation and the weakening dollar under trumps plan
It’s the tariffs I’m worried about.
But Trump said tariffs don’t impact prices and he’s a completely rational and trustworthy person who most certainly understands economics!
I might break 140k this year living near Seattle for a single income household with 3 children under 6. Is this graph saying that Trump’s tax plan will benifit me, a middle class, some would argue lower middle class in this location, better than Harris?
I haven’t looked into the specifics of these policies, so I could be wrong, but I’d say no.
This graph doesn’t really take into account everything it should IMO. The massive tax cuts to the wealthy are going to dramatically screw over people with lower incomes, because there’ll be less money overall. I believe Trump’s case would involve making up that deficit with really high tariffs on things, especially Chinese goods. This means that, although your taxes would be slightly lower on paper, you’re spending a lot more money for literally everything that’s made in China (or contains parts or materials from China). Typically tax cuts for the wealthy also involve money leaving crucial areas for lower income areas, like schools and infrastructure. The Harris plan (I believe) is revenue neutral, meaning for you it’s literally free money with no downsides. In her case the extra money comes from slightly increasing the tax rates of the wealthy (as you can see here).
It’s also worth noting that your income is taxes in the brackets it falls in. The first $39,000 is taxed at that (lower) rate, then the next bit is taxed in the next bracket, etc. Breaking the $140,000 mark doesnt mean all your income is now taxed at a higher rate. I THINK this is taken into account in this graph, but I haven’t looked into it to be sure. I wanted to mention it though because it’s a constant point of confusion for people.
Hope this helps.
Yes the graph says that your income would be around 0.7% higher. What the dramatic increase of the others will do to the value of your income (inflation) and hence the stuff you can actually effort with this, is up to discussion of somebody who knows this stuff better than me.
I’m not voting for Trump for a thousand dollars on my tax return. Seeing by the down votes people really think any kind of scrutiny shouldn’t be discussed, and no one wants to talk about a family man and his income. This fight between getting income relief for the bottom class and letting millionaires run free leaves the middle class more or less get pulled.
My income is fine with me, I make enough to survive even with the high prices of groceries. I’m looking for a better life for my family. Something I have many options for, where millions are struggling to put food on the table. So I know where my heart is.
It only goes so if Trump doesn’t place the tariffs he says he wants to place, because then prices on all goods increase across the board…
He wants 100% tarrifs which is just a tax on us in the end on everything from China and Mexico. And 20% on everywhere else.
So every item you buy, mark the price up by such, and then ask yourself if you spend $1000 that year.
Note: never has he mentioned food being exempt.
Throw in the deportations and you look at the building unions who say they are 400,000 workers short, and you realize labor shortages will increase building costs which in turn drive up insurance costs for houses…
So your income will go up by a $1000, and your expenses will go up dramatically
He wants 100% tarrifs which is just a tax on us in the end on everything from China and Mexico. And 20% on everywhere else.
I legitimately think he doesn’t understand that.
To be fair if someone worded it to him like I worded it there, it isn’t very clear. I really need to take more time to phrase sentences more clearly. (Off topic but just needed to criticize myself there)
The issue here is that for those of us who are actually in the middle class a thousand bucks shouldn’t make us betray folks who need the help more than us.
IMO
Raising minimum wage does not cause inflation.
What a terrible graph. You don’t know if the numbers are good or bad at a passing glance.
Are you perhaps color blind? The shades of red and green were pretty clear for me at a glance.
Sure, but is people making over $14m/year paying more taxes really a bad thing?
For them it is…
I’m sure the post tax income will still be enough to soak up the tears.
Fuck em.
I think they might be. blue would’ve been a better choice. it’s weird that people still use red and green when it’s the best known and most common form of color blindness and it affects as much as 1 in 20 people, give or take. that’s not a small percentage. color blindness in general affects 1 in 12 people.
1 in 12 men I believe. It’s not as common in women.
that’s for red-green, which is why I said about 1 in 20 – maybe closer to 1 in 25 – but in total, all color vision deficiency types add up to around 1 in 12 people.
No it isn’t. 1 in 12 men are colour blind. Only 1 in 200 women are colour blind.
Trump has a plan?
The heritage foundation has a plan. Why come up with your own when someone has already done the work for you?
Concepts of a plan.
It is a good plan, maybe the best plan that was ever planned.
