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Monday, April 10, 2017

Should Delaware’s top earners pay more in taxes?

DOVER — What’s the difference between yearly earnings of $60,001 and $1 million?

Yes, it’s nearly $940,000, but in Delaware, there’s no distinction between the two figures for tax purposes.

All income above $60,000 is considered in the state’s top tax bracket. That means someone who makes $60,001 pays the same rate of 6.6 percent as a tycoon of industry pulling in millions of dollars each year.

Republicans say higher taxes stifle economic growth; Democrats have mixed views.

The Delaware General Assembly is no exception.

But with revenues projected to fall well short of projected spending, lawmakers have to do something to balance the budget for the fiscal year starting July 1. Those steps will be decided over the ensuing months.

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12 comments:

Anonymous said...

You see this nation wide politicians trying to FIX STUPID.

Anonymous said...

NO

Anonymous said...

Everyone should pay the same percentage. Why penalize wealthy people?

Anonymous said...

Yes. They can afford it.

Anonymous said...

Pay the same as us minions, on what they make.The question should be is how can they and the rest of us pay less. By cutting off assistance crap and at least have oversight so you only get it when needed and for a short period to get moving.

Anonymous said...

It is 0% for everyone in FL.

Anonymous said...

NO - we all make choices and there should not be a penalty because one is wealthier than another.

Anonymous said...

Stupid! Flat taxes, We should all demand it! As far as delaware, the Democrats have spent like none other, Now are broke and willing to do anything. You want to pay less taxes remove libral politicians!

Anonymous said...

6.6% of $1 million is $66,000 in tax. 6.6% of $60,000 is only $3,660. Does Delaware want to lose the $66,000 in revenue by causing millionaires to leave if they raise taxes on high earners to make the $60k earners feel better?
By the way, what is their 'fair share' anyway? My democrat friends use that term all the time. If they think the government can spend our hard earned dollars better than you and I, why not give all your money to the government?!!

Anonymous said...

But Sales Tax and Higher Property Taxes in Florida....

Anonymous said...

it's never "how the gov can do more with less," it's always how the taxpayers can do with less.

Anonymous said...

12:41 With my income, it is much cheaper to pay sales and RE tax in FL than DE or MD income tax.