Will physicians be taxed out the a** if Bernie Sanders is president?

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Status
Not open for further replies.
P

Poit

Full Member
10+ Year Member
Joined
Sep 5, 2013
Messages
294
Reaction score
604
Members don't see this ad.
I'm not going to medical school for the money, and I like 90% of what Bernie Sanders stands for. However, he has historically been for a very high tax rate for the top income earners. Like most med students, I'm dropping at least 200 k for the pleasure of a medical education. How are we going to pay that back if we have a massive tax hike for the "rich"? Do these tax rates account for the fact that you have 200 k in loans accumulating at 6.8%?
 
Fedekz said:
Just vote for trump (I don't know anything about his tax stance, but I image he would protect the high income earners)
Click to expand...
Fedekz said:
Just vote for trump I image he would protect the high income earners)
Click to expand...
Fedekz said:
Just vote for trump
Click to expand...

ray-j-stare-vh1-for-the-love-o-54df5ae1528c5.gif
 
Poit said:
I'm not going to medical school for the money, and I like 90% of what Bernie Sanders stands for. However, he has historically been for a very high tax rate for the top income earners. Like most med students, I'm dropping at least 200 k for the pleasure of a medical education. How are we going to pay that back if we have a massive tax hike for the "rich"? Do these tax rates account for the fact that you have 200 k in loans accumulating at 6.8%?
Click to expand...

He'd be out of office before you start making the big buck. Anyway, even when you pay more in the higher tax bracket, you are still paying the same as everyone else for the dollars earned in the lower tax brackets.
 
Last edited:
I don't think corporate america will allow it.
 
*Ahem* Only Congress has the power to tax, not the President.


Poit said:
I'm not going to medical school for the money, and I like 90% of what Bernie Sanders stands for. However, he has historically been for a very high tax rate for the top income earners. Like most med students, I'm dropping at least 200 k for the pleasure of a medical education. How are we going to pay that back if we have a massive tax hike for the "rich"? Do these tax rates account for the fact that you have 200 k in loans accumulating at 6.8%?
Click to expand...
 
You don't have to worry about it because it will be a long while (if ever) if we get an Independent candidate elected for the Presidency in the 21st century.
 
Poit said:
I'm not going to medical school for the money, and I like 90% of what Bernie Sanders stands for. However, he has historically been for a very high tax rate for the top income earners. Like most med students, I'm dropping at least 200 k for the pleasure of a medical education. How are we going to pay that back if we have a massive tax hike for the "rich"? Do these tax rates account for the fact that you have 200 k in loans accumulating at 6.8%?
Click to expand...
Doesn't matter; Bernie Sanders won't be president.
 
The Constitution gives only the Congress the power to tax, not the president. Hyperbole might be fine for Fox News, but it's no going to work here.



efle said:
He just needs the supreme court to call it a mandate instead of a tax
Click to expand...
 
Last edited:
efle said:
I just enjoy that your post telling me off got 4 likes in two minutes. I wonder how little of what I mean gets through my posts
Click to expand...

I think I get most of what you are trying to convey, but I also have a pretty dry sense of humor (which now makes me wonder if my humor comes inadvertently comes across fairly muddled on SDN).
 
Poit said:
I'm not going to medical school for the money, and I like 90% of what Bernie Sanders stands for. However, he has historically been for a very high tax rate for the top income earners. Like most med students, I'm dropping at least 200 k for the pleasure of a medical education. How are we going to pay that back if we have a massive tax hike for the "rich"? Do these tax rates account for the fact that you have 200 k in loans accumulating at 6.8%?
Click to expand...

He'd make an interesting President. Expect a push for

1) Universal healthcare
2) Higher punitive taxes on top earners
 
I don't think he's outlined any specific tax policy proposals yet anyway. Who knows, he could end up targeting his tax increases to income 400-500k+.

Plus Bernie Sanders is awesome 🙂
 
Bernie sanders is just an insurgent candidate. He will make life difficult for Clinton but won't get the nomination
 
WedgeDawg said:
I think I get most of what you are trying to convey, but I also have a pretty dry sense of humor (which now makes me wonder if my humor comes inadvertently comes across fairly muddled on SDN).
Click to expand...
was there a joke in here
 
The long term trends make it almost inevitable that we will see massive tax hikes on the 'rich' in the future, and that people like doctors will be hardest hit.

1) Demographics: immigration and generally dysgenic breeding patterns mean that the share of the population for whom "higher taxes" simply means "more handouts from the government for me!" is growing ever larger. We will eventually get to a point where the number of people who suck from the system is greater than the number of mugs who put into it. Obviously, if you suck from the system, you will want as much money to be flowing into that system as possible, and anyway, "check yo privilege" right?

2) The US has been increasing the debt/GDP ratio for the past couple of decades. It has been doing so even though the financial tsunami caused by baby boomer retirement hasn't hit yet. Even under the current rate that is not sustainable, but that rate will soon accelerate. Taxes will eventually follow, else we will go bankrupt, or should I say go bankrupt sooner. (if you think spending will be cut rather than taxes going up see #1 above)

3) The rich will not be hit. The "rich" will. Sadly, doctors fall in that latter category. An ortho working 80/hrs week to pull in 700k is not rich. He doesn't fly to Davos or have any pull whatsoever with Congressmen or senators, nor does he shape public opinion through the media. The actual rich do all those things, and as a result they are never the target for real haircuts. The "rich" doctor, or anyone who earns a high income really, is the perfect target. He's high enough above the general masses to satisfy their thirst for blood, while not so high that he can insulate his money from attack the way the truly rich can. By throwing him to the wolves, they truly rich can also divert attention from themselves. That whole "top 1%" thing is a perfect ploy. Yes, 3 million people in the country are all engaged in a conspiracy to pauperize the nation. Lloyd Blankfein of Goldman Sachs sits next to your urologist and car wash owner at "1% meetings" and discusses the best way to control the British pound:eyebrow:

Anyway, rant over. Point is, don't expect the tax situation for doctors to be very rosy.
 
Oh_Gee said:
you're fired
Click to expand...

While I didn't originally envision myself voting for him... I didn't think Obama had a chance. Trump spends time on topics that are important to me. I want to see the debates, but I could vote for him.
 
mk04447 said:
While I didn't originally envision myself voting for him... I didn't think Obama had a chance. Trump spends time on topics that are important to me. I want to see the debates, but I could vote for him.
Click to expand...
lol just a joke
 
It's interesting how politics has come to the point in which they're all screwing us over so we have to try to figure out who's screwing us the lightest and have everyone vote for them.
 
Goro said:
The Constitution gives only the Congress the power to tax, not the president. Hyperbole might be fine for Fox News, but it's no going t work here.
Click to expand...
constitution says taxes must originate in the house, when the ACA was defended as issuing a tax as opposed to a fine it should have been nullified due to it's origination in the senate.......but the court has bent over backwards to keep it floating

but yes, I agree with you that anyone saying the president can just raise taxes would be stretching scotus compliance much farther than it's actually ever happened
 
Fedekz said:
Just vote for trump (I don't know anything about his tax stance, but I image he would protect the high income earners)
Click to expand...

I'm sure he will be all about funding higher education, reducing student loan burdens, setting up government programs for loan forgiveness, funding more residencies, money for research...

You can't vote for someone like Trump and then claim to care about people's health. I don't see how being a Trump supporter and being the type of person we want as a doctor are compatible.
 
I think it's cute that people on SDN think Doctors are the rich people in America when we talk about the "rich" buying elections and rigging the system. I mean really rich. Like buying elections and destroying oceans rich. Bernie Sanders talks about the 0.01% and the 0.001%. Billionaires who can donate 10 years of a doctors measly earnings on a political donation. They wouldn't be taking out loans for medical school...
 
PreciousHamburgers said:
I think it's cute that people on SDN think Doctors are the rich people in America when we talk about the "rich" buying elections and rigging the system. I mean really rich. Like buying elections and destroying oceans rich. Bernie Sanders talks about the 0.01% and the 0.001%. Billionaires who can donate 10 years of a doctors measly earnings on a political donation. They wouldn't be taking out loans for medical school...
Click to expand...
http://www.msnbc.com/rachel-maddow-show/the-tax-rates-dont-cause-bernie-sanders-flinch

It would be wrong to take 50 or 90% of my income so I won't support doing it to anyone else. It's already wrong to take my income to begin with
 
allantois said:
He'd be out of office before you start making the big buck. Anyway, even when you pay more in the higher tax bracket, you are still paying the same as everyone else for the dollars earned in the lower tax brackets.
Click to expand...
Yeah, but there comes a certain point where you're not earning much more for the extra work. The top tax bracket used to be 90%, for instance, and steep prior to when you reached it. So the difference in net pay between making 100k and 300k could be as little as 20k after taxes. This'll never happen again, obviously, but it gives you an idea of how taxes can eat you alive if they're high enough.
 
PreciousHamburgers said:
I think it's cute that people on SDN think Doctors are the rich people in America when we talk about the "rich" buying elections and rigging the system. I mean really rich. Like buying elections and destroying oceans rich. Bernie Sanders talks about the 0.01% and the 0.001%. Billionaires who can donate 10 years of a doctors measly earnings on a political donation. They wouldn't be taking out loans for medical school...
Click to expand...

doctors can't even stop politicians from letting everyone else pretend to be us
 
PreciousHamburgers said:
If you make 250,001 dollars, only that $1 is in the top tax bracket of 250,000+. Your whole income isn't taxed at the highest rate. I love how "Libertarians" have it all figured out and get to ignore reality.
Click to expand...
That still doesn't make me miss those hard-earned dollars any less.
 
PreciousHamburgers said:
I think it's cute that people on SDN think Doctors are the rich people in America when we talk about the "rich" buying elections and rigging the system. I mean really rich. Like buying elections and destroying oceans rich. Bernie Sanders talks about the 0.01% and the 0.001%. Billionaires who can donate 10 years of a doctors measly earnings on a political donation. They wouldn't be taking out loans for medical school...
Click to expand...
The physician lobby is weaker than the nursing lobby. We're hardly a political tour de force.
 
Mad Jack said:
That still doesn't make me miss those hard-earned dollars any less.
Click to expand...
I think I get a pretty sweet deal for the relatively little I pay in taxes. It seems I discover another way my tax dollars are at work every week. Paved roads, an literate population, clean air and water, knowing that my food isn't full of lead, police and fire at the touch of a button... And if I were a millionaire and billionaire, I have the strength and security of the American dollar to thank for that, and the global apparatus in place that keeps my money coming in.
 
PreciousHamburgers said:
I think I get a pretty sweet deal for the relatively little I pay in taxes. It seems I discover another way my tax dollars are at work every week. Paved roads, an literate population, clean air and water, knowing that my food isn't full of lead, police and fire at the touch of a button... And if I were a millionaire and billionaire, I have the strength and security of the American dollar to thank for that, and the global apparatus in place that keeps my money coming in.
Click to expand...
The trouble is, it becomes incredibly difficult to become a millionaire or retire early if tax rates reach a certain tipping point. I don't want to work forever, and packing up and leaving the workforce becomes impossible if you're only getting to keep 10% of what you're making over 250k. Every 5% increase in the tax rate will force me to work 2 years longer than I'd like to. That's tangibly sucking my life away. An increase in income tax rates to Eisenhower levels would effectively make it impossible for anyone who is not currently wealthy to become wealthy, and would lock the ultra wealthy (who already have their money and this wouldn't be taxed) into a permanent position- it would effectively destroy socioeconomic mobility.
 
sb247 said:
historically low was not having an income tax....something a properly sized government can do just fine
Click to expand...

Yes, there are plenty of examples of functioning first-world nations with no income taxes.

Hey, Saudi Arabia, Qatar, and Kuwait have no income tax! Isn't it interesting how many Conservative policies seem to mirror policies from countries they don't like?
 
PreciousHamburgers said:
I think I get a pretty sweet deal for the relatively little I pay in taxes. It seems I discover another way my tax dollars are at work every week. Paved roads, an literate population, clean air and water, knowing that my food isn't full of lead, police and fire at the touch of a button... And if I were a millionaire and billionaire, I have the strength and security of the American dollar to thank for that, and the global apparatus in place that keeps my money coming in.
Click to expand...
Imagine how much better off you would be if the bureaucracy weren't so convoluted and wasteful. The same services could be rendered at a much lighter tax burden for all. At some point in my life, I have been in every bracket up to and including the 28% and you will never find me advocating for tax hikes, even for those who earn >$1M. It will never be right in my eyes. That being said, I am all about reducing waste. It is almost impossible to be fired from government work, no matter how awful you are at your job. Reduce friction on the system and it will operate much more efficiently. Or just let us keep digging a hole and join Greece at the bottom.
 
Considering how much billionaires made off of the last decade and a half of war, I do not feel bad asking them to pay for them. They'll still come out ahead.
 
Status
Not open for further replies.

Similar threads

M
Will I be ready?
Replies
5
Views
628
candbgirl
C
M
Shadowing Physicians at the NIH
Replies
2
Views
441
mimixx
M
P
Contacting admissions to see if they sent out secondaries
Replies
7
Views
712
WildWing
WildWing
S
Will there be a big interview wave after Thanksgiving?
Replies
4
Views
1K
LizzyM
LizzyM
X0001234
Which medical schools produce the most academic physicians?
Replies
2
Views
885
LizzyM
LizzyM
Top