Here's some more you forgot from the 1993 tax act by Bill Clinton considered by many to be among the top three tax hikes in the 20th century:
The Clinton Tax Hike
In 1993, President Clinton ushered through Congress a large package of tax increases, which included the following:
An increase in the individual income tax rate to 36 percent and a 10 percent surcharge for the highest earners, thereby effectively creating a top rate of 39.6 percent.
Repeal of the income cap on Medicare taxes. This provision made the 2.9 percent Medicare payroll tax apply to all wage income. Like the Social Security payroll tax base today, the Medicare tax base was capped at a certain level of wage income prior to 1993.
A 4.3 cent per gallon increase in transportation fuel taxes.
An increase in the taxable portion of Social Security benefits (already noted)
A permanent extension of the phase-out of personal exemptions and the phase-down of the deduction for itemized expenses.
Raising the corporate income tax rate to 35 percent.
Dang, you took that bait entirely too quickly.
Now, let's look at this again. I will go slow. Now, when you go to Hawaii, do you go, "that is a lovely looking beach" or do you go "look at those five grains of sand"? I ask that because of the way you listed your "examples" of the 1993 Clinton tax plan. You plucked several little examples where taxes rates went up but failed to look at [or didn't want to acknowledge] the aggregate when making your case.
See, when we pay our federal taxes, they are based on the aggregate of ALL the tax laws, all those little lines in the tax codes, not simply three or four examples.
Are you still with me?
Now, the easiest way to look at the aggregate would be to look at the tax tables for different incomes for 1992 and 1993. That would provide real IRS generated numbers for how much a person pays based on "before" and "after" the mean ol' Clinton Tax plan.
Here are a couple of examples. The columns [which I hate in BW] are Income Level, 1992 Taxes, 1993 Taxes, Difference. I chose the perfect little NeoCon Nucular Family - Married, filing Jointly.
Income Level /1992 Taxes /1993 Taxes /Difference
$36,000 /$5,433 /$5,404 /$ 29 Less
$56,000 /$11,033 /$10,890 /$143 Less
$66,000 /$13,833 /$13,690 /$143 Less
$86,000 /$19,433 /$19,290 /$143 Less
$99,950 /$23,743 /$23,521 /$222 Less
$120,000 /$29,951 /$29,729 /$222 Less
$140,000 /$36,151 /$35,929 /$222 Less
Now, you can wander over to the IRS web site and check these numbers out, I took these from my hard copies.
You also forgot to mention that the tax changes included Increased exemptions and increased standard deductions for everyone.
In 1993 the Family median income was $31,241. Only 9.3% of households saw a potential increase in their taxes [and these are the folks that hire accountants to insure they pay less].
The only tax that everyone paid was the 4.3 cent gas tax. I think that averaged under $40 annually per family if my little calculator is correct.
Enjoy the beach.