Tax Bracket Math... Check Me If I'm Missing Something

[mrplunkey]

Source: Blomberg

Effect of Bush Tax Cuts to Brackets:
39.6 -> 35%
31 -> 28%
28 -> 25%
15 split and dropped to 10%

2013 Financial Impact by Bracket:
cost of reducing 39.6% bracket = $52B
cost of reducing 31% and 28% brackets = $84B
cost of reducing 15% bracket = $54B

So total cost of bracket reduction = $190B

Current year's deficit = $1,010B

-------------------------
So to sustain our spending, here are the brackets we'd need:

39.6% -> 64%
31% and 28% brackets -> 47% and 44%
15% -> 41.5%

And if we only took the top bracket to 64% and left the others alone, we'd still run a $734B deficit.

If we took the top bracket to 100% and left the others alone, $386B deficit.

This math doesn't add up. Why are we even having a tax discussion over such useless tax increases?

 

[-SD-]

Its like gun control bor, it just feels so good to talk about doing it

 

[PICK3]

Soooooo .... it's knot Bush's fault

 

[miplank]

Stop being so greedy.

 

[Creepusmaximus]

Let's not have facts get in the way.

 

[samoth]

Source: Blomberg

Effect of Bush Tax Cuts to Brackets:
39.6 -> 35%
31 -> 28%
28 -> 25%
15 split and dropped to 10%

2013 Financial Impact by Bracket:
cost of reducing 39.6% bracket = $52B
cost of reducing 31% and 28% brackets = $84B
cost of reducing 15% bracket = $54B

So total cost of bracket reduction = $190B

Current year's deficit = $1,010B

-------------------------
So to sustain our spending, here are the brackets we'd need:

39.6% -> 64%
31% and 28% brackets -> 47% and 44%
15% -> 41.5%

And if we only took the top bracket to 64% and left the others alone, we'd still run a $734B deficit.

If we took the top bracket to 100% and left the others alone, $386B deficit.

This math doesn't add up. Why are we even having a tax discussion over such useless tax increases?

WTF's with all the numbers? I can't check that shit, bro.

 

[mistaballoonhands]

They need to extend those cuts quick brosephus...

 

[PICK3]

They need to extend those cuts quick brosephus...

I'm a poor ass ngr bish before teh fiscal cliff

I'll be a poor ass ngr bish after teh fiscal cliff



just sayin'

 

[samoth]

I'm a poor ass ngr bish before teh fiscal cliff

I'll be a poor ass ngr bish after teh fiscal cliff



just sayin'

HOW'S THAT CUSHY GOVERNMENT PENSION, BRO???

 

[smurf2]

Pick3 is a govt worker???