Bernie Sanders releases his tax returns...click here for his effective tax rate...it's a doozy!

originally posted by: eisegesis
The median income of Senate members is $2.9 million.

Sanders receives a $174,000 salary.

Him and his wife took home a combined $206,000.

4% of their income went to charity.

He describes himself as one of the "poorer members of the United States Senate."

Clinton pulled in 180 million over 8 years.

Ted and John have only partially released their records, Trump has released none.

Your point is again?

Why does Trumps tax return matter? The last time I checked Trump wasn't sucking off the tax payers teat.

originally posted by: matafuchs
a reply to: introvert

Yes, except that he lists no open property, his healthcare is paid for by the US government since he is a senator and since he is over 65 they also get Social Security...sorry, there is not that much to write off.

Well technically He can write off all His living expenses since He so called works away from Home. I'm pretty sure He has a house in DC with bills that He can write off. I would also imagine He gets the highest per diem rate in the country since it's Washington DC. I know it's BS but You know they do write the tax code to favor themselves.

wait, he makes $200,000+ a year and he`s only in the 13.5% tax bracket? how does that work? my daughter makes alot less than that and shes in the %20+ tax bracket.oh that`s right she isn`t a politician she actually works for a living.reminds me of when i was in the military and the sargent would say " don`t call me sir, i work for a living" and these clowns want me to vote for them? pffft get a real job and i might vote for you.

originally posted by: introvert
a reply to: matafuchs

He is using the same deductions and "loopholes" that we all use. That would include the rich as well. Taking a deduction for charitable giving or home mortgage interest deductions are not the loopholes he is talking about.

Honestly, this is sort of embarrassing. You're really grabbing at straws here.

Exactly.

We always got receipts from the Salvation Army when we'd do spring cleaning and take a few garbage bags of old clothes to donate. My mother would itemize a list of all the stuff we were donating, and get a receipt from them for the family taxes. If you have kids, they outgrow clothing. We were not "wealthy" or even upper-middle class, it was just better than throwing it away as it helped lower income people find decent clothing.

Today? Sometimes you'll find ME at the Salvation Army or other thrift store. If you know what to look for, you can find things like Brooks Brother's dress shirts for CHEAP. $100+ dress shirt for $5? Don't mind if I do!

I think a lot of people don't realize when they use TurboTax or have that person at Walmart do their taxes that they are getting the same deductions that Sanders is.

I have a friend who makes as much as me. Him and his wife both make as much as me and my SO. They pay less in taxes, why? They have a rental income that is attached to their main home. They can write off expenses, and a bunch of other things he explained to me. In the end, he ends up paying way less in taxes than I do.

It's legal, and it's what a LOT of people do.

The difference is that the wealthy benefit MUCH MORE from these so-called "loopholes" because of the sheer amounts of money they save.

Most people will benefit the most from just taking a standard deduction instead of itemizing. It's when you start to have things like a small side business, rental property, investments ect -- that itemizing and stuff helps you out.

I think its sad that people are grasping at straws like this simply because they don't understand how taxes work.

Straws are to drink from, not to grasp.

In this thread: People who don't understand how taxes work.

Look folks, don't get upset because YOU don't know how the income tax works, and what deductions are.

It's ironic that the same people who get so butt-hurt about taxes also seem to be the most ignorant of how taxes actually work.

The difference is that the wealthy benefit MUCH MORE from these so-called "loopholes" because of the sheer amounts of money they save.

Oh, there are loopholes.

The tax code isn't more than 75,000 pages long because it needs to be.

originally posted by: matafuchs
13.5%

That's it! While the average person pays over 28% it seems the man fighting for income equality is not practicing what he preaches. He wants to hurt the investors in the pocket but he would be hurting himself...and his wife.

The average person does not pay over 28%. The average income in the US is $51,939. According to the 2015 tax tables that's
10% on the first $9,225 for $922.50
15% on the next $28,225 for $4,233.75
25% on the last $14,489 for $3,622.25

Total that's $8,778.50 on $51,939 in income or 16.9% without taking any deductions. A far cry from your claimed 28%.

originally posted by: matafuchs
a reply to: burgerbuddy

It is probably in the Panama papers...

One would think he'd be banking some good cash all these years.

He had to be clearing 100k a year.

I've seen pics of his house, probably paid that off when he got back from the USSR, 40ya.

How can anyone trust a guy that has basically nothing to show for being in the upper 10%, for years, with the nation's economy?

originally posted by: Tardacus
wait, he makes $200,000+ a year and he`s only in the 13.5% tax bracket? how does that work? my daughter makes alot less than that and shes in the %20+ tax bracket.oh that`s right she isn`t a politician she actually works for a living.reminds me of when i was in the military and the sargent would say " don`t call me sir, i work for a living" and these clowns want me to vote for them? pffft get a real job and i might vote for you.

Your tax bracket is not your effective rate.

originally posted by: burgerbuddy

How can anyone trust a guy that has basically nothing to show for being in the upper 10%, for years, with the nation's economy?

I love the range of arguments. He's either too much part of the top rich to be trusted or he's too poor after all these years to be trusted.

But Trump being given his wealth, maintained it through bankruptcies and shady business practices, buying politicians and selling out bigger than anyone else on earth, now that guy you can trust!!!

Brilliant.

a reply to: mOjOm

Trump is open about it. There are not secrets. Bernie wants to 'act' like the granola grandpa but he is far from it. He is in the top 5% of US earners. He is a life long politician. He is not like you and me.

a reply to: matafuchs

If $200,000 puts someone in the top 5% -- that should be an eye-opening and saddening revelation...not something to be used as some misdirected attack on Sanders.

If anything, it highlights just how vast of a problem income inequality is in the United States.

I know people who make over $100,000 a year on their own, just as petroleum or chemical engineers.

originally posted by: jkm1864

originally posted by: eisegesis
The median income of Senate members is $2.9 million.

Sanders receives a $174,000 salary.

Him and his wife took home a combined $206,000.

4% of their income went to charity.

He describes himself as one of the "poorer members of the United States Senate."

Clinton pulled in 180 million over 8 years.

Ted and John have only partially released their records, Trump has released none.

Your point is again?

Why does Trumps tax return matter? The last time I checked Trump wasn't sucking off the tax payers teat.

Before you say that, what kind of tax deferments is Trump looking forward to when he takes public office?

Didnt Hank Paulson save 10 million +/- in tax when he took a cabinet position.

a reply to: matafuchs

Is that right??

Then where are Trumps tax records then that he's supposed to show???

Don't say he can't because of some audit either because he can and even the IRS said there is nothing stopping him from releasing them.

No discount double checks for you!

originally posted by: matafuchs
13.5%

That's it! While the average person pays over 28% it seems the man fighting for income equality is not practicing what he preaches. He wants to hurt the investors in the pocket but he would be hurting himself...and his wife.

www.wsj.com...

WHOA...What?...The average person pays 28% Effective Tax Rate??????????????????????



Not sure you know what an EFFECTIVE tax rate is...
www.pgpf.org...

originally posted by: matafuchs
a reply to: mOjOm

Trump is open about it. There are not secrets. Bernie wants to 'act' like the granola grandpa but he is far from it. He is in the top 5% of US earners. He is a life long politician. He is not like you and me.

Yes..in as much as 200k is .00002 (or two ten-thousandths!) of the 10B that Trump claims to be worth...they are just the same..
Wow..........