Taxes

Ok, I really didn’t want to stray into politics here but it seems as I won’t be able to stay away from it.

This image below came across my facebook feed earlier today as it probably did some of yours regarding the proposed taxing plan:

money

Now, I am not an economics expert by any means though I know enough to honestly believe that the experts usually have no idea what they are talking about, but if this graphic has a hint of truth about it then America is in even more trouble under Sanders than it currently is economically.  I’ve already spoken about the squeeze of the middle class here, this will be exacerbated under Sanders.

What you can not read in the graphic is whats in the yellow at the bottom, this number is the total annual taxes that would be paid for the family of 4 making $80k. Keep in mind that the average household income is $52k, not $80k…

The totals read yearly taxes under Trump =$11,620

taxes under Sanders = $27,700

 

This means based that on the current tax code that the $103 per week would be a surplus for the family from what they keep now, so there taxes would DECREASE by $103 dollars a week, that’s $400 bucks a month folks, that’s a car note.

And on the opposing side, it means that the taxes for Sanders will be an INCREASE of $206 per week, which is $800 bucks a month, which is 2 car notes.  Do you know any middle class family that can afford 2 extra car notes?

 

This is a $16,000 a year  difference for middle class families.  This is absurd on top of the fact that goods and services have never cost more, and the average household income still has not recovered from 2008.  The middle class absolutely can not afford another hit of this magnitude and survive.  We are in for some hard times if these numbers are true.