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

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...

He is not even doing himself what he wants to do to the entire US. Tax brackets may not change but added taxes are there.

The 2014 return added context to Mr. Sanders’s charitable contributions and his wife’s business income. The returns show that Mr. Sanders gave $8,350 to charity. The returns don’t list the recipients. The return also showed Jane Sanders earning $4,900 for her work as a commissioner on the Texas Low-Level Radioactive Waste Disposal Compact Commission. The family earned $156,411 in wages and collected an additional $39,281 in Social Security benefits. They paid $27,653 for an effective tax rate of 13.5%.

There is a simple truth here. He never had it and now he does. This happens a lot with the have nots who suddenly have like Bernie. He jets to the Vatican when he could have done the same speech in Bed-Sty and he could have quoted the pope. He should have said he was invited and stayed with the people, but, like this tax return, it shows, again, he is simply one of them and not us. He uses the same loopholes he wants to take away from hardworking business owners and the middle class.

You mean the cute old socialist wants to spend your money?

You mean the career politician making a couple hundred thousand a year+ payoffs and "legal" insider trading permission, wants to make America free again? And he is taking a payout.

Even if he takes no 200k income, he can easily make 5 times that with insider trading an payoffs.

The whole damn things a show.

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?

a reply to: matafuchs

It would appear that his effective tax rate is right in line with what the average American would pay.

According to the Tax Foundation’s report, the OECD found that the average American worker faced a 31.5% tax wedge (this includes both income and payroll taxes). Additionally, the average worker paid an average effective income tax rate of 15.7% and an average effective payroll tax rate of 15.9%.

blogs.fedsmith.com...

You have to log-in to read the entire WSJ article, so I cannot comment on it's content, but your OP was a bit disingenuous.

Also, for a married couple to make $156k in a year in nothing. That does not make them an elitist.

I think it's easy to say this is nothing more than grabbing at straws out of ignorance.

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?

Exactly..well said.
Lets see Hilarious Clintons Tax returns....if we can find them?

This the the point....

Combined income of 206,000 means you pay 28k per year and then you owe, based on Bernies Tax Brackets which stay the same, he should have paid 42,000 dollars. So, for the guy that is fighting for fairness, for him to use the same loopholes he claims "the rich" use, he is a hypocrite.

Again, he would not even have paid what he is telling us we should pay during his presidency. If you do not see that then the ignorance lies with you.

It is not about elitist. Clinton got paid more for a speech than he made as a senator. We all know she is garbage. This is simply to show that he did not pay his 'fair share' as he campaigns....

a reply to: matafuchs

What loopholes are those? Charitable donations?

Sounds to me like you don't understand the tax system.

a reply to: introvert

Including 'charitable' donations, you think it is ok for someone to itemize and write off 15k in taxes? Those 'loopholes' that people who have done it for years know how to work it. Good for him! I know people who do it. I write off business expenses including my home office. I know how it works and how you can cheat it. I don't.

But tell me since you are so versed in tax law how he could have done it. He has a net worth of about 300k so what else is he writing off....please tell us....

a reply to: matafuchs

You have no idea what you are talking about.

That's it! While the average person pays over 28%

You have absolutely no idea what you are talking about. The average effective federal tax rate is nowhere near 28%.

PGPF - HOW MUCH DO AMERICANS PAY IN FEDERAL TAXES?

a reply to: Soloprotocol

Billary's AGI was about $28 million in 2014.

Download: PDF

They did pay a higher percentage at around 35%, and also donated more, but the amount of income compared to Bernie's puts those numbers into perspective. By using the OP's logic, Hillary should have paid much more as well. Comparatively speaking, Bernie is small potatoes and his tax history is less than legendary.

a reply to: matafuchs

Including 'charitable' donations, you think it is ok for someone to itemize and write off 15k in taxes?

Yes.

I write off business expenses including my home office. I know how it works and how you can cheat it

Did Bernie cheat?

But tell me since you are so versed in tax law how he could have done it. He has a net worth of about 300k so what else is he writing off....please tell us....

Done what? Looks to me like he is writing-off about as much as your average American.

That would include home mortgage interest, insurance premiums, healthcare costs, etc.

Pretty standard stuff.

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.

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.

It doesn't appear that he was able to write-off very much.

You are making a big deal out of nothing because you don't understand basic tax rules.

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.

Sanders' net worth was estimated to be $436,000 in 2014, according to calculations by the Center for Responsive Politics, which ranked him No. 81 on a chart listing personal wealth in the Senate.

81 out of 100.

Hardly the stuff of nightmares.

a reply to: matafuchs

You obviously don't understand how progressive tax rates work. You don't just jump to the highest bracket. Income is taxed at different rates. Marginal tax rates are the rate paid on the last dollar (the highest bracket).

So assume you and your wife made a combined $200,000 in 2014 and you filed jointly. Using the tax brackets from 2014:

The first $18,150 was taxed at 10%
The next $55,649 (up to $73,800) was taxed at 15%
The next $75,049 (up to $148,850) was taxed at 20%
The last $51,149 was taxed at 28%

That would be 1,815 + 8,347 + 15,009 + 14,321 = $39,492.72 which is about 18%.

However, all income isn't taxed at the same rate. Nobody is taxed on more than 85% of Social Security income for instance. Then there's the standard deduction ($12,400 in 2014) or alternatively, itemized deductions (if they exceed the standard) as well as any applicable earned income credit, deduction for interest on mortgage, etc.

The Sanders' tax return doesn't show them exploiting any loopholes or anything else you're talking about.

a reply to: matafuchs

when keeping it real goes badly haha...

the quote "good for thee but not for me" fits Bernie perfectly just about now.

For how much some members dislike Bernie, it's pretty ironic (and hilarious) how these same members get all bent out of shape and butthurt over something that they fabricated and distorted to fit their own agenda.

If this were a thread on Trump it would be considered a "shameless and pathetic attack and defamation of character," and his troops would collectively drop to their knees to defend their messiah to no end.

(I am not a Bernie supporter)

Again, this is how it works...

Combined income of 206,000 means you pay 28k per year and then you owe, based on Bernies Tax Brackets which stay the same, he should have paid 42,000 dollars. So, for the guy that is fighting for fairness, for him to use the same loopholes he claims "the rich" use, he is a hypocrite.

You are also describing a cumulative tax, not a progressive tax. I progressive tax means you will be put in the highest bracket based on your wages.

A system based on a progressive tax collects tax revenue from individuals in proportion to their ability to pay. Citizens with higher earnings are taxed at a higher rate, while poorer people pay a lower percentage of their income in tax. In other words, the tax rate progresses from lower to higher. Progressive tax can be implemented by selective taxation, tax credits or other adjustments, and it can also be modified by other factors in a nation's tax system, but most commonly the term refers to a tiered income tax that shifts more of the revenue burden onto the wealthy.

Why don't you read this....

www.pgpf.org...

You can go to just about any tax caclator out there. If he made 206000 he would owe

44k a year in tax
22% of income to FED
28% tax bracket

Finally, this is about FED not FICA. There is a 8.2% there also so bring in Soc Sec means nothing...it is not included in this. Again, no clue......

And to DrakeInferno I say...."Pancakes....bitches....."

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.