Mar 13, 2014
104
7
Has anyone looked at either of the presidentials tax proposal ? It appears to me that Clinton's tax proposal would hurt those who are making a physician's salary and large student loan debts. Thoughts ?
 

keifernny2

5+ Year Member
Aug 26, 2013
259
162
Status
Attending Physician
Please post specifics, otherwise this could be considered trolling.
 
OP
Y
Mar 13, 2014
104
7
Please post specifics, otherwise this could be considered trolling.
I was just reading about the two candidates tax proposal and wondered how one would affect my livelihood. Although my salary may be considered high, my student debt along with my spouses is really high up there. And while I'm not excited to vote for either candidate, I still need to decide on which one has a better tax plan for someone like me. Mind you I do look at other aspects but what affects my pocketbook is important.
 

keifernny2

5+ Year Member
Aug 26, 2013
259
162
Status
Attending Physician
I do understand: Please share your specific calculations about how the taxes would change with each candidate's plan with us, as we are all probably in the same boat as you are and it will help us decide how our pocketbooks vote as well.
 

sweetlenovo88

10+ Year Member
Apr 30, 2009
338
329
Status
Attending Physician
Has anyone looked at either of the presidentials tax proposal ? It appears to me that Clinton's tax proposal would hurt those who are making a physician's salary and large student loan debts. Thoughts ?
It definetely would. She wants to raise maximums on social security income that is taxed. Which will hurt all doctors and double the hurt to self employed doctors. She also wants to take away certain deductions that may hurt higher income earners. She proposes a new a tax of incomes about 5 million and a minimum tax rate of 30% on thoese making over a million a year which probably won't hurt most doctors. Trump's proposals would definetely help us with his lowering of the tax brackets. However, even if that idiot is able to get elected, I don't imagine he would be successful at changing the tax code as he he can't remember what he promised today what he promised to do yesterday.
 

keifernny2

5+ Year Member
Aug 26, 2013
259
162
Status
Attending Physician
The increase in SS tax would definitely suck (without significant social Security disability reform I'm firmly against any increase in my SS taxes as I spend half my day dealing with the results of a flawed disability system), though I think Hillary's proposals to forgive student loans as well as refinance student loans would save me enough that it would almost be a wash.

Trump's plan would save a fortune in income taxes, as anyone in their right mind would switch to contractor status and call themselves a small business with a 15% cap. This would really hurt the govt revenues and balloon the deficit, though his plan to "renegotiate govt debt" would likely decimate bond income and we'd probably lose a fortune on bond values. So, I also think that this may be a wash ( though harder to calculate).


Sent from my iPad using Tapatalk
 
Last edited: