Everything We Know About the American Heartland

38

Everything We Know about Taxes

November 21, 2017

Show Notes

In this episode, we try to bore our listeners to death by discussing taxes.

Tax Deductions

Cardin would exempt the first $100,000 of income for couples from income tax ($50,000 for singles, $75,000 for single parents), meaning that the vast majority of people would no longer pay income taxes. He’d consolidate rates to three — 15, 25, and 28 percent — and cut the corporate tax to 17 percent. That’s a lower top individual rate, and a lower corporate rate, than the Senate is proposing. To pay for it, he’d introduce a value-added tax, the kind of consumption tax used in most other rich countries, and add a rebate so that poor people don’t see their taxes go up.

From Vox:

Tax distribution in 2027

Why is this Happening?

Australia

An outdated citizenship rule is bringing down Australia’s parliament.

Sidebars

TJ: The Longevity Illustrator and the U.S. Life Tables published by the CDC.

AJ: Mark Fraunfelder: ‘I FORGOT MY PIN’: AN EPIC TALE OF LOSING $30,000 IN BITCOIN

Ruchit: Pretty cool infographic on every tax cut and increase.