Second Income Tax Bill

[TeePee4Prez]

SCHEDULE X — 
 Single

 $0 $7,000 10% 
 $7,000 $28,400 15% 
 $28,400 $68,800 25% 
 $68,800 $143,500 28% 
 $143,500 $311,950 33%   
 over  $311,950 35%

PROPOSED: 

143,000-311,950 35%
311,950-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

 Married Filing  Jointly or   Qualifying   Widow(er)   
 $0 $14,000 10% 
 $14,000 $56,800 15% 
 $56,800 $114,650 25% 
 $114,650 $174,700 28% 
 $174,700 $311,950 33% 
 over  $311,950 35%

 PROPOSED: 

174,700-400,000 35%
400,000-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

SCHEDULE Y-2 —
 Married Filing  Separately 
 $0 $7,000 10% 
 $7,000 $28,400 15% 
 $28,400 $57,325 25% 
 $57,325 $87,350 28% 
 $87,350 $155,975 33%   
 35% over $155,975

PROPOSED: 

87,350-200,000 35%
200,000-1,000,000 37%
1,000,000-5,000,000 38%
5,000,000+ 40%

Rest will remain

SCHEDULE Z —
 Head of  Household   
 $0 $10,000 10% 
 $10,000 $38,050 15% 
 $38,050 $98,250 25% 
 $98,250 $159,100 28% 
 $159,100 $311,950 33% 
 35% over $311,950

PROPOSED: 

159,100-311,950 35%
311,950-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

Other proposals:

Expand hope credit to $4,000 per year
Expand Lifetime Learning to 35% of college expenses up to $15,000 annually

Phaseout for credits goes between $180,000-200,000.

GOTTA GO TO BED. MORE TO COME!

[TeePee4Prez]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

[TeePee4Prez]

Yeah, this is a more feasible plan I think.  Sometimes you need encessary government spending.  It is a vital part of the GDP.  Y(GDP)=C+I+G+(E-I).

[TeePee4Prez]

Government spending does cause inflation if it is wasteful and unnecessary. But as long as it is being spend productively and increasing the efficiency of the economy or otherwise providing a needed service or product, it does not.

To pass Akno's Bill we need this modest hike.  We also need this to pay for the war.