TAX BRACKETS.....WHO IS REALY BENEFITING?

FYI: The Federal Minimum wage is $7.25 per hour effective July 24th.  I keep seeing all kinds of posts on how President Obama is spending money, but if the truth be known, President Obama is the first to really do what others have promised and not accomplished. 1. The spending has decreased substantially since the previous administration. 2. Health care costs are out of reach for those like me who do not have an employer paying, I am my employer and I cannot afford healthcare. 3. Healthcare has been run by a bunch of out of control Insurance companies reaping the profits of everyone who has paid them their hard earned dollar to have them ask for more and refuse to give it back (pay for our medical expenses) when we need it. 4. Made co-pays & limits so outrageous it has made medical bankruptcies one of the top reasons for claiming bankruptcies (guess who pays for that?) 5. He has faught for the poor to receive assistance for food & housing (most working Americans make less than $10 an hour, this adds us to less than $15,000 per year, do the math, their is no room for food....even if they have healthcare they don't go to a doctor unless absolutely necessary the co-pay could be a monthly deal breaker. 6. He relied on those who "knew what they were doing" to put together a website to take on a massive task. My MLS system has been running for over a decade, they have decided to bring in the newer, better version. I have to rely on this system to make a living, the new system has bugs you would not believe, so I have to use 3 browsers instead of one to use the system, each has their own incompatibilities, and white screens appear constantly, and this is with a system tested, and used for years, I guess we need to insist they all be fired, oh yeah then what? 8. He got the site up and running in a reasonable timeframe, after 6 months ours still is not. When are people going to stop spewing politics and starting looking at reality. Call out those that are squeezing the budget for necessary services we all need....just wait till you get to social security you are going to need those food stamps. Raise taxes, please, taxes have only gone down for the wealthy: THIS WOULD BE A SAVINGS ON STRICTLY

Representative Paul Ryan’s plan calls for collapsing the income tax rates into two brackets, 10 percent and 25 percent and proposes offsetting some or all of the revenue losses through broadening the tax base, also without specifying which tax expenditures would be cut.  So I found a calculator to figure taxable income and the marginal or actual rate (calculated by so much per bracket your income falls.  Most of us are only one or 2) an individual would pay based on today's tax brackets. 

THIS WOULD BE A SAVINGS ON STRICTLY "TAXABLE INCOME:0%       INCOME   $0-$17,850                ($0 Savings)5%       INCOME   $17,851-$72,500       ($893-$3,625 Savings)15%      INCOME   $72,501-$100,000    ($10,876-$15,000 Savings)0%       INCOME   $100,001-$146,400   ($0 Savings)3%       INCOME   $146,401-$223,050   ($4,392-$6,691 Savings)8%       INCOME   $223,051-$398,350   ($17,784-$31,868 Savings)10%     INCOME   $398,501-$450,000   ($39,850-$45,000 Savings)14.6%   INCOME   $450,000+                ($65,700+ Savings) More than the average family income.14.6%   INCOME  $500,000                   ($73,000 Savings)14.6%   INCOME  $1,000,000                ($146,000 Savings)14.6%   INCOME  $5,000,000                ($730,000 Savings) =  This is 35 $10 hr workers ·   Provides individual income tax payers a choice of how to pay their taxes – through existing law, or through a highly simplified code that fits on a postcard with just two rates and virtually no special tax deductions, credits, or exclusions (except the health care tax credit).·   Simplifies tax rates to 10 percent on income up to $100,000 for joint filers, and $50,000 for single filers; and 25 percent on taxable income above these amounts. Also includes a generous standard deduction and personal exemption (totaling $39,000 for a family of four).·   Eliminates the alternative minimum tax [AMT].·   Promotes saving by eliminating taxes on interest, capital gains, and dividends; also eliminates the death tax.·   Replaces the corporate income tax – currently the second highest in the industrialized world – with a border-adjustable business consumption tax of 8.5 percent. This new rate is roughly half that of the rest of the industrialized world.  http://www.moneychimp.com/features/tax_brackets.htm