Here's what the tax code would look like if Bernie Sanders got everything he wanted

So this article is a good example of how numbers can be made to lie (which is very unfortunate given what sub we're in).

Lets say you make that $75,300

First of all, the taxes that you pay, the ones that come out of that 75k on your W2, are 27.2% above that line, and the remaining amount is paid by your employer, not you. Many taxes are structured this way, some coming out of the paycheck, others out of the bottom line (social security, medicare).

But that's not even the whole lie. Doing some quick napkin math, we can see what you would actually pay:

  • The first $18,550 of your income is currently taxed at 10% (Bernie tax 12.2%)
  • The next $56,750 at 15% (Bernie tax 17.2%)

If we ignore the deductions that we all receive, this means that the effective income tax rate, the amount that actually comes out of your promised pay, is 13.7% (Bernie tax 15.9%). As you said, there are more than just federal taxes, but no one in the middle class is paying even CLOSE to the 50% mark. My wife and I make roughly 100k and we calculated our effective rate (state and fed) at roughly 31%.

I'm not here to argue for or against the plan, but it should also be noted that a 2.2% increase in taxes is actually a gain when you consider two things: no more medicare on your pay stubs ( accounting for 1.45%), and no more health insurance (We spend 4% of our income on insurance, and we're on the low end of the nation). I'd also like to correct the concept in general that America pays a lot in taxes. We're actually something around #60 in taxes paid, beyond virtually all of Europe, with a national rate of around 27% of our total GDP.

/r/dataisbeautiful Thread Parent Link - vox.com