So I saw a little conservative rant about tax plans going around, and ... well, take a look:
I compared Hillary Clinton and Donald Trump's tax plan to see how it would effect me as a middle class tax payer. Here's the break down assuming I can get my deductions to bring me down to $75,300 of taxable income.1) Comparing an independent analysis of your opponent to your guy's campaign propaganda is neither honest nor likely to yield insight.
Hillary Clinton places that salary in a 25% tax bracket (married filing jointly) which translates to me paying around $724.00 in fed tax a paycheck. That's around $1,448.00 a month or $18,825.00 per year in fed taxes (my salary is divided over 26 pay periods).
Donald Trump places that salary in a 10% tax bracket which translates to me paying around $290 in fed tax a paycheck. That's around $580 a month or $7,530.00 per year in fed taxes.
Donald Trump's tax plan would put an extra $434.00 a paycheck in my pocket every paycheck. That's about $868.00 a month or $11,284.00 per year in extra money.
If I were to invest that $434 each paycheck into a mutual fund with an average interest rate of %10 I would have....almost 2 million dollars when I retire in 30 years.....
Think about that when you consider who you are going to vote for in November. An extra $870 a month can go an extremely long distance in most people's households.
You can check Clintons tax plan here
And Trumps tax plan here
2) "$18,825.00 per year in fed taxes"
That is not how tax brackets work. You aren't taxed 25% per year on the whole thing; income in a certain bracket is taxed on the rate for that bracket. Dude just multiplied 75,300 by .25. (In fairness, he makes the same mistake calculating his taxes under Trump.)
3) "Hillary Clinton places that salary in a 25% tax bracket (married filing jointly)"
Actually, the link that the gentleman provides states that Hillary Clinton places that salary in a 15% tax bracket.
4) Errors 2&3 together have led him to overstate his tax burden under Clinton's plan by more than 80%. Doing the actual calculation, a married-filing-jointly with $75,300 under Hillary's plan would pay:
10% on the first $18,550 = $1,855
15% on the next $56,750 = $8,512.50
For a total of: $10,367.50.
If it were just the reading comprehension error and not knowing how tax brackets work, I would be inclined to ascribe it to error rather than malice, but the campaign-propaganda-to-independent-analysis comparison hints at a more deliberate attempt to deceive--if only to deceive himself.
Also 'effect' in the first sentence should be 'affect' so there's that, too.
This dreck has been shared 126,000 times. Gaze upon my works, ye elitists, and despair.