Here is my argument in today's Raleigh, (NC) News and Observer. I have also signed a letter calling for this, which also shows that I support the Senate using reconciliation to clean up the Medicaid deals that are in the Senate bill.
You confuse taxable income and tax credits as being equal. Unless your marginal tax rate is 100%, an increase of $7,200 in taxable income and a tax credit of $5,700 does not leave you with a tax due bill of $1,500 as you state. If you were to pay at the marginal rate of 25% then ($7,200 x 25% = $1,800 due in taxes) you would still have additional tax credit dolaar available. Seems to me you misrepresent the PCA proposal.
You confuse taxable income and tax credits as being equal. Unless your marginal tax rate is 100%, an increase of $7,200 in taxable income and a tax credit of $5,700 does not leave you with a tax due bill of $1,500 as you state. If you were to pay at the marginal rate of 25% then ($7,200 x 25% = $1,800 due in taxes) you would still have additional tax credit dolaar available. Seems to me you misrepresent the PCA proposal.
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