Stumpokapow
listen to the mad man
What a lot of people don't realize is that a tax cut for the middle class also benefits richer people as well due to the progressive tax code. Of course, once we get into bigger digits (above 130k~) thats when the hurt comes on, but the modifications really aren't that major. It's more of a symbolic gesture than anything substantive. The real grist comes from stimulating the economy, funding new jobs and hoepfully making us more competitive in the international marketplace, not saving ma and pa 2000 every april
looks like the middle class cut is 22.5% -> 20% for marginal income between 44701 and 89401 and a raise of 4% for marginal income over 200000. assume it's implemented as follows:
Code:
middleClassBracketBottom = 44701
middleClassBracketTop = 89401
richAssBracketBottom = 200000
richAssBracketTop = 9999999999999
changeInRateMiddle = -0.025
changeInRateRich = 0.04
for income in [45000, 47500, 50000, 55000, 60000, 65000, 70000, 75000, 90000, 100000, 125000, 150000, 200000, 210000, 220000, 230000, 250000, 275000, 300000, 500000, 1000000]:
deltaTax = min(middleClassBracketTop-middleClassBracketBottom,max(0,income-middleClassBracketBottom))*changeInRateMiddle + min(richAssBracketTop-richAssBracketBottom,max(0,income-richAssBracketBottom))*changeInRateRich
print "Someone making "+str(income)+" pays "+str(deltaTax)+" extra tax"
Someone making 45000 pays -7.475 extra tax
Someone making 47500 pays -69.975 extra tax
Someone making 50000 pays -132.475 extra tax
Someone making 55000 pays -257.475 extra tax
Someone making 60000 pays -382.475 extra tax
Someone making 65000 pays -507.475 extra tax
Someone making 70000 pays -632.475 extra tax
Someone making 75000 pays -757.475 extra tax
Someone making 90000 pays -1117.5 extra tax
Someone making 100000 pays -1117.5 extra tax
Someone making 125000 pays -1117.5 extra tax
Someone making 150000 pays -1117.5 extra tax
Someone making 200000 pays -1117.5 extra tax
Someone making 210000 pays -717.5 extra tax
Someone making 220000 pays -317.5 extra tax
Someone making 230000 pays 82.5 extra tax
Someone making 250000 pays 882.5 extra tax
Someone making 275000 pays 1882.5 extra tax
Someone making 300000 pays 2882.5 extra tax
Someone making 500000 pays 10882.5 extra tax
Someone making 1000000 pays 30882.5 extra tax
So ma and pa will save $1,200 if their income is ~125,000-200,000 ish (assuming no credits of any kind and pooled income and...)
My assessment of the renamed ministerial posts:
Minister of Fisheries, Oceans and the Canadian Coast Guard - "Fisheries and Oceans" was just fine; the add-on is cumbersome and unnecessary.
coast guard reminds putin we mean business!!!
Minister of Employment, Workforce and Labour - Another overly complicated renaming; what was wrong with "Minister of Labour"? The new name pretty much just says the same thing three times.
labour sounds communist, workforce and employment = we love businesses