Please help me with a giant math problem?
Trying to figure out the cost to each taxpayer of "Medicare for ALL". Serious math answers only please. Do not politicize. Any math professors out there?
It is understood that because we can't get firm answers from candidates who propose this plan on the percentage number that would be shouldered by the top 1 % percent of our taxpayers are guesses.
We've been told that the top 1% tax payers will shoulder most of the total cost of $34 trillion. We don't know what percentage of the 34 trillion equals "most", but we can assume it will be approximately 60%. That means that 40%, (assumption), will be paid by the remaining federal taxpayers.
There are 1.4 million federal taxpayers in that top bracket, (or there were in 2015).
There are 134 million federal taxpayers in the remaining tax brackets, (or there were in 2015).
In 2015 we still had different tax brackets, and that is the only year for which the IRS provides data. Tax brackets for corporations might be 0%, because many corporations used tax loopholes so that they would pay no taxes.
In 2015, the tax brackets, tax payer numbers for federal taxes, and federally taxable income were as follows according to the official IRS chart:
0% bracket: 36,860,716 taxpayers, taxable income $35,000 to $40,000 per year
10% bracket: 27,400,094 taxpayers, taxable income approximately $30,000 per year.
15% bracket: 42,195,123 taxpayers, taxable income approx. $43,000 per year.
25% bracket: 24,009,141 taxpayers, taxable income approx. $24,000 per year.
28% bracket: 4, 603,607 taxpayers, taxable income approx. < $5000 per year.
35% bracket: 1,768,562 taxpayers, taxable income < $3000 per year.
37% bracket: 176,838 taxpayers, taxable income < $1000 per year.
39.6% bracket: 892,420 taxpayers, taxable income < $2000 per year.
Tax laws changed in 2016, BUT the figures above still give us the actual number of taxpayers, and the 35%, 37% and 39.6% brackets contain the top 1% who would shoulder the burden of Medicare for all.
Because my math skills are SO terrible, I need a real mathematician to help me figure out who will owe what.
Bear in mind that the 34 trillion tax burden will be spread out over 10 years and what we need to know is how much of that, based on the 60% guess of how much is "most", will be paid each year by the top 1% and how much of it will be paid by middle class Americans, who usually fall in the 15% tax bracket above?
It is understood that because we can't get firm answers from candidates who propose this plan on the percentage number that would be shouldered by the top 1 % percent of our taxpayers are guesses.
We've been told that the top 1% tax payers will shoulder most of the total cost of $34 trillion. We don't know what percentage of the 34 trillion equals "most", but we can assume it will be approximately 60%. That means that 40%, (assumption), will be paid by the remaining federal taxpayers.
There are 1.4 million federal taxpayers in that top bracket, (or there were in 2015).
There are 134 million federal taxpayers in the remaining tax brackets, (or there were in 2015).
In 2015 we still had different tax brackets, and that is the only year for which the IRS provides data. Tax brackets for corporations might be 0%, because many corporations used tax loopholes so that they would pay no taxes.
In 2015, the tax brackets, tax payer numbers for federal taxes, and federally taxable income were as follows according to the official IRS chart:
0% bracket: 36,860,716 taxpayers, taxable income $35,000 to $40,000 per year
10% bracket: 27,400,094 taxpayers, taxable income approximately $30,000 per year.
15% bracket: 42,195,123 taxpayers, taxable income approx. $43,000 per year.
25% bracket: 24,009,141 taxpayers, taxable income approx. $24,000 per year.
28% bracket: 4, 603,607 taxpayers, taxable income approx. < $5000 per year.
35% bracket: 1,768,562 taxpayers, taxable income < $3000 per year.
37% bracket: 176,838 taxpayers, taxable income < $1000 per year.
39.6% bracket: 892,420 taxpayers, taxable income < $2000 per year.
Tax laws changed in 2016, BUT the figures above still give us the actual number of taxpayers, and the 35%, 37% and 39.6% brackets contain the top 1% who would shoulder the burden of Medicare for all.
Because my math skills are SO terrible, I need a real mathematician to help me figure out who will owe what.
Bear in mind that the 34 trillion tax burden will be spread out over 10 years and what we need to know is how much of that, based on the 60% guess of how much is "most", will be paid each year by the top 1% and how much of it will be paid by middle class Americans, who usually fall in the 15% tax bracket above?
