{"id":3670,"date":"2007-10-25T05:44:00","date_gmt":"2007-10-25T05:44:00","guid":{"rendered":"http:\/\/blog.beliefnet.com\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html"},"modified":"2007-10-25T05:44:00","modified_gmt":"2007-10-25T05:44:00","slug":"rangel-proposes-a-4-surcharge","status":"publish","type":"post","link":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html","title":{"rendered":"Rangel proposes a 4% surcharge on those making over 200,000!"},"content":{"rendered":"

If the Democrats win the trifecta next year, expect this<\/a> tax to become law. I can’t see how this is a winning strategy. Do you really think you aren’t paying enough in taxes? I hope the Republicans will use the fact that they are being up front about their tax and spend policy.<\/p>\n

\n

Rangel said the broader measure, which he has called the “mother of all reforms,” would contain a 4 percent tax-rate surcharge on adjusted gross income over $200,000 for married couples. The surcharge would rise to 4.6 percent for those with income of more than $500,000. In addition, households with income of more than $200,000 would have to pay rates as high as 19.6 percent on capital gains and dividends, instead of the current rate of 15 percent. <\/p>\n

That provision alone would raise $831.7 billion, more than enough to cover the cost of eliminating the minimum tax, Rangel said. <\/p>\n

The overhaul, which he said wouldn’t be voted on this year, also lowers the corporate tax rate from 35 percent to 30.5 percent. To pay for that $363.84 billion tax cut, the proposal would repeal a special 32 percent tax rate for manufacturers and disallow the “last-in, first-out” accounting method that reduces taxes for businesses such as oil companies, wholesalers and automakers that hold inventory.<\/p>\n<\/blockquote>\n

(via<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

If the Democrats win the trifecta next year, expect this tax to become law. I can’t see how this is a winning strategy. Do you really think you aren’t paying enough in taxes? I hope the Republicans will use the fact that they are being up front about their tax and spend policy. Rangel said…<\/p>\n","protected":false},"author":307,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[15,198,204],"class_list":["post-3670","post","type-post","status-publish","format-standard","hentry","category-life-under-the-sun","tag-democrats","tag-house","tag-taxes"],"yoast_head":"\nRangel proposes a 4% surcharge on those making over 200,000! - Reformed Chicks Blabbing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rangel proposes a 4% surcharge on those making over 200,000! - Reformed Chicks Blabbing\" \/>\n<meta property=\"og:description\" content=\"If the Democrats win the trifecta next year, expect this tax to become law. I can’t see how this is a winning strategy. Do you really think you aren’t paying enough in taxes? I hope the Republicans will use the fact that they are being up front about their tax and spend policy. Rangel said…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html\" \/>\n<meta property=\"og:site_name\" content=\"Reformed Chicks Blabbing\" \/>\n<meta property=\"article:published_time\" content=\"2007-10-25T05:44:00+00:00\" \/>\n<meta name=\"author\" content=\"michele\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Rangel proposes a 4% surcharge on those making over 200,000! - Reformed Chicks Blabbing","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html","og_locale":"en_US","og_type":"article","og_title":"Rangel proposes a 4% surcharge on those making over 200,000! - Reformed Chicks Blabbing","og_description":"If the Democrats win the trifecta next year, expect this tax to become law. I can’t see how this is a winning strategy. Do you really think you aren’t paying enough in taxes? I hope the Republicans will use the fact that they are being up front about their tax and spend policy. Rangel said…","og_url":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html","og_site_name":"Reformed Chicks Blabbing","article_published_time":"2007-10-25T05:44:00+00:00","author":"michele","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html","url":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html","name":"Rangel proposes a 4% surcharge on those making over 200,000! - Reformed Chicks Blabbing","isPartOf":{"@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/#website"},"datePublished":"2007-10-25T05:44:00+00:00","dateModified":"2007-10-25T05:44:00+00:00","author":{"@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/#\/schema\/person\/8de1e1f06613d0c6f3bd8a276ac94ab0"},"breadcrumb":{"@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/2007\/10\/rangel-proposes-a-4-surcharge.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing"},{"@type":"ListItem","position":2,"name":"Rangel proposes a 4% surcharge on those making over 200,000!"}]},{"@type":"WebSite","@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/#website","url":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/","name":"Reformed Chicks Blabbing","description":"Politics and current events from a Reformed perspective, by Michele McGinty","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/#\/schema\/person\/8de1e1f06613d0c6f3bd8a276ac94ab0","name":"michele","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","caption":"michele"},"url":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/author\/michele"}]}},"_links":{"self":[{"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/posts\/3670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/users\/307"}],"replies":[{"embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/comments?post=3670"}],"version-history":[{"count":0,"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/posts\/3670\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/media?parent=3670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/categories?post=3670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/reformedchicksblabbing\/wp-json\/wp\/v2\/tags?post=3670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}