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Here's one way to look at the tax breaks in the Big Beautiful Bill I guess

Posted on 7/4/25 at 1:56 am
Posted by saintforlife1
Member since Jul 2012
1363 posts
Posted on 7/4/25 at 1:56 am
quote:

People with white refrigerators at home are talking about getting tax breaks with the Big Beautiful Bill…bestie sorry but those breaks are not for you.

It’s for people whose fridges look like a cabinet. I only recently learned this type of wealth exists.

LINK
Posted by GEAUXT
Member since Nov 2007
30368 posts
Posted on 7/4/25 at 5:39 am to
I paid just over $300k in state and federal income tax last year.

How much did the person with the white refrigerator pay?
Posted by Lsu05
Member since Oct 2023
76 posts
Posted on 7/4/25 at 6:25 am to
But you will hear the loudest biching from the 40% of Americans who pay zero income tax. And all democrats of course since they cry about everything.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
463908 posts
Posted on 7/4/25 at 7:15 am to


I don't know how I feel about this
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
35784 posts
Posted on 7/4/25 at 7:22 am to
quote:

I paid just over $300k in state and federal income tax last year.


Praying for you brother
Posted by tigerbacon
Arkansas
Member since Aug 2010
4439 posts
Posted on 7/4/25 at 8:43 am to
I am against this bill even though I individually benefit from it. This country is in so much debt anything that increases should be an automatic no. Yes this bill saves me thousands but the country suffers. I would be ok paying thousands more if the country could get out of debt since long term it’s better. I have zero issues with the program cuts. So let’s cut the programs the way it did but let’s not have the tax cuts. it would be a huge win for our country. But now I get more money to invest and make even more money. But I know a lot of people will suffer including the country
Posted by Crimson
Member since Jan 2013
1783 posts
Posted on 7/4/25 at 3:26 pm to
quote:

I would be ok paying thousands more if the country could get out of debt since long term it’s better…. But now I get more money to invest and make even more money. But I know a lot of people will suffer including the country


The treasury accepts donations if you’re that worried about it.

You are always welcome to pay more voluntarily.

Posted by 756
Member since Sep 2004
15719 posts
Posted on 7/4/25 at 3:42 pm to
You need a new CPA
Posted by tigerbacon
Arkansas
Member since Aug 2010
4439 posts
Posted on 7/4/25 at 4:53 pm to
The condition the country gets out of debt
Posted by deltaland
Member since Mar 2011
99838 posts
Posted on 7/4/25 at 5:37 pm to
The whole “tax breaks in the BBB are for the rich” is such bullshite

I was making around 80k when the original TCJA passed and my taxes went down.

Are the no taxes on tips and overtime for the rich? Idiots.

The lie from the left about tax cuts being most beneficial for the rich is based off the fact that they save more money. Well no shite, if you make 10 million a year and get a 2% cut you save 200k. If you make 100k a year and get a 5% cut you save 5 grand. It’s simple math, but the 5 grand is much more meaningful to the middle class man making ends meet. To the multi millionaire 200k is inconsequential, however that extra money likely gets invested into business, asset purchases, business expansion, etc and still benefits the working man down the line by spurring economic growth.
Posted by tigersmanager
Member since Jun 2010
8938 posts
Posted on 7/4/25 at 8:11 pm to
Facts
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
134952 posts
Posted on 7/5/25 at 7:51 am to
quote:

I don't know how I feel about this
Looks like you're the king of tax breaks.
Posted by Mariner
Mandeville, LA
Member since Jul 2009
2503 posts
Posted on 7/5/25 at 9:06 am to
quote:

It’s for people whose fridges look like a cabinet.


Thank you for the compliment. I love my cabinet refrigerator.

Most genuinely wealthy people I know donate a lot for charity and the community.

Those who are wealthy from doing crooked things against the treasury and the common man in order to achieve it are the problem. Those sleezy people driving Ferraris and Lambos to a nightclub in Miami, Vegas, or LA are the ones who first come to mind.

I dream that one day when I can file taxes and choose the sector my money is allocated to (Defense, Infrastructure, Mental Health, etc.).
Posted by sstig
Houston
Member since Oct 2003
2905 posts
Posted on 7/5/25 at 10:57 am to
Thank you!!
Posted by Joshjrn
Baton Rouge
Member since Dec 2008
31347 posts
Posted on 7/5/25 at 11:05 am to
quote:

I don't know how I feel about this

I like the concept; I just don’t like those cabinets
Posted by SmackoverHawg
Member since Oct 2011
30872 posts
Posted on 7/5/25 at 12:58 pm to
quote:

This country is in so much debt anything that increases should be an automatic no.

I was in debt when I started my business and my wife's business. Taking on more debt allowed me to earn way, way more than we would have as employees. Sometimes you have to spend money to make money, while also trimming unnecessary spending. Can't do it all at once though or you'll be homeless with no electricity.

quote:

But now I get more money to invest and make even more money. But I know a lot of people will suffer including the country

So the money you invest doesn't help anyone? You obviously have no clue on how money works. I now doubt you benefit any meaningful amount from they extension of the tax breaks Biden extended. Even if you deposit it at the bank, that gives the bank lower interest assets that allow them to be more competitive in their lending rates than having to borrow the money from the state or fed. Investment stimulates growth. Educate yourself.
Posted by tigerbacon
Arkansas
Member since Aug 2010
4439 posts
Posted on 7/5/25 at 2:03 pm to
I am getting thousands of dollars back come tax season with this bill. So 3.3 trillion dollars added to our already insane amount of debt is worth it? You know. One of the biggest part of any of our government budget is now paying our debt payments which actually goes up more year after year. Yes this 3.3 trillion is so,eth8ng we can’t afford along with sending billions to other countries
Posted by SmackoverHawg
Member since Oct 2011
30872 posts
Posted on 7/5/25 at 2:11 pm to
quote:

I am getting thousands of dollars back come tax season with this bill. So 3.3 trillion dollars added to our already insane amount of debt is worth it? You know. One of the biggest part of any of our government budget is now paying our debt payments which actually goes up more year after year. Yes this 3.3 trillion is so,eth8ng we can’t afford along with sending billions to other countries

That's why the fed needs to lower interest rates as over $9 trillion of that is coming due. Trump is forcing their hand to some degree. Just sit back little Panican and enjoy the ride.

You are others like you can send that money back with a note to put it towards the debt. I've paid over $15million in taxes over the last 22 years, so I'm ready to get some of mine back. I've paid my fair share and then some. Anybody bitching about paying more taxes but taking any deductions or not paying the highest rates can kiss my arse.

I'll bet Trump would start a fund for American taxpayers that would go directly towards principle on the debt.
Posted by Megasaurus
Member since Dec 2017
1306 posts
Posted on 7/5/25 at 3:21 pm to
quote:

I paid just over $300k in state and federal income tax last year.


the struggle is real.

Posted by tigerbacon
Arkansas
Member since Aug 2010
4439 posts
Posted on 7/5/25 at 5:19 pm to
Sad thing is trumps comments y3sterday guarantees no interest rate Curt’s anytime soon
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