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Message
re: Biden: If you make under $400k you will not pay a penny more in taxes when I'm president!
Posted on 9/17/20 at 2:07 pm to Seldom Seen
Posted on 9/17/20 at 2:07 pm to Seldom Seen
quote:
The 100 richest Americans have made more than $300 billion during the COVID-19 crisis.
If that’s true and who knows, if you taxed the 300 Billion at 90% You’d gross 270B you’d net the difference in what they collect now and that amount.
Since Biden needs trillions more, who is paying the rest?
0
Posted on 9/17/20 at 2:08 pm to Seldom Seen
To Democrats, any system or policy that allows the rich to make even a cent more money is wrong and should be fundamentally changed to penalize them for their wealth.
The problem? Your low income and middle income people will never increase their wealth if the rich don't also increase theirs.
I'd love to see an example of a tax system that simultaneously overburdens the rich while increasing the wealth of the lower and middle classes.
The problem? Your low income and middle income people will never increase their wealth if the rich don't also increase theirs.
I'd love to see an example of a tax system that simultaneously overburdens the rich while increasing the wealth of the lower and middle classes.
Posted on 9/17/20 at 2:08 pm to Seldom Seen
Gee, thanks Joe. How come I think you're a lying, pandering piece of shite?
Posted on 9/17/20 at 2:08 pm to Seldom Seen
He's talking about income taxes. Not capital gains, corporate, estate etc...I think he's going to get rid of stepped up basis if I remember right. They have some sleezy ideas that would never pass. Remember all business owners are rich.
Posted on 9/17/20 at 2:09 pm to Seldom Seen
I’m for a very simple progressive tax structure. I know many on here don’t like the idea but I think the rich should have a higher rate than the poor. But what I’m not for is the insane code we have now with all the loopholes and everything else. Just simplify the thing, our entire tax code should fit on one page.
Posted on 9/17/20 at 2:11 pm to Seldom Seen
We could end all of the class warfare with a flat tax.
No one complains about who pays their fair share of sales or gasoline tax.
Let's just all pay the same rate (wages, cap gains, etc.)
/my pipe dream
No one complains about who pays their fair share of sales or gasoline tax.
Let's just all pay the same rate (wages, cap gains, etc.)
/my pipe dream
Posted on 9/17/20 at 2:12 pm to DavidTheGnome
quote:
I’m for a very simple progressive tax structure. I know many on here don’t like the idea but I think the rich should have a higher rate than the poor. But what I’m not for is the insane code we have now with all the loopholes and everything else. Just simplify the thing, our entire tax code should fit on one page.
The actual answer is a simple progressive consumption tax.
Everyone pays the exact same tax on a loaf of bread, and everyone pays the same, but higher, tax rate on a Maserati.
Posted on 9/17/20 at 2:12 pm to Seldom Seen
Biden also told Americans that if they liked their healthcare plan, they could keep it.
Posted on 9/17/20 at 2:13 pm to Seldom Seen
The people who need a tax break are the people who make $75k-550K. Because those people will put the money back into the economy.
Posted on 9/17/20 at 2:13 pm to jlovel7
quote:
My boss pays my salary. If he’s suddenly paying more in taxes what is going to happen to my salary?
Posted on 9/17/20 at 2:14 pm to Seldom Seen
At the same time his proposed 401k modification starts taxing people that make 40k or greater (no pre-taxed contributions).
Posted on 9/17/20 at 2:15 pm to Bobby OG Johnson
But no!
The trump campaign shifted some money for this week!
The trump campaign shifted some money for this week!
Posted on 9/17/20 at 2:16 pm to teke184
quote:
Verdict - false.
The 401K changes alone will see at least a marginal tax increase for the middle class.
BOOM... this is going to kill any incentive for small business owners to match their employees and gives everyone a blanket tax credit.
Posted on 9/17/20 at 2:19 pm to thadcastle
quote:
The people who need a tax break are the people who make $75k-550K. Because those people will put the money back into the economy.
Well break or no break, we just need to stop screwing over this group.
They tend to be producers or small business owners, they fund a large swath of government on their own, and on the higher end they're priced out of a lot of stuff (student loan breaks, Roths, etc.).
Democrats treat people who make 300k like they're carefree elites, when most of them are paying a large chunk in taxes and devoting most of the rest to things like higher cost of living (living in a city where such incomes are more likely) and private school (another requirement of living in many cities).
Posted on 9/17/20 at 2:20 pm to Sooner5030
quote:
We could end all of the class warfare with a flat tax.
Sure
Posted on 9/17/20 at 2:22 pm to Seldom Seen
Basically, their solution to the wage gap is to try to get the top 1% to have a lower net income as opposed to Trump's plan of trying to get the lower 99% to have a higher gross income and lower taxes so they can keep more of what they make
Posted on 9/17/20 at 2:24 pm to Seldom Seen
If they're concerned with the super wealthy 1%, why is the threshold $400k/year? If you want to attack the uber wealthy, that number should be in the multi-million/year group. $400k isn't super rich in plenty of major cities in the US. A household making $400k in somewhere like San Fransisco, Chicago, New York, etc. ain't living large. That's the problem with the federal government. They just can't seem to ever grasp that what may make sense in one part of the country doesn't necessarily apply everywhere. The standard of living can be worlds different depending on where you are. Same can be said of other ridiculous baselines the feds try to use thinking it's fair or makes sense.
That said, his promise is complete horseshite, just like when Obama said Obamacare would save people money and wouldn't affect your provider. They make these promises (lies) to dupe the American public into getting on board. How ironic their biggest tag-line for everything is how the GOP does nothing but lie. They lie with everything they say and on a much grander scale.
Their whole angle is attacking billionaire CEOs of major corporations, yet who will be the most affected by such a tax hike will be upper middle class families. Taxing the rich won't even work. You tax them more, you eliminate more jobs. The rich are smart, they know how to restructure to maintain their bottom lines. A family of 4 with a household income of $400k can't do that. Taxing the rich isn't going to help low earners either. It's going to result in decreased wages when corporations decrease salaries and eliminate jobs. Maybe just maybe the solution is to lower taxes so that more Americans have more disposable cash to put into the economy.
That said, his promise is complete horseshite, just like when Obama said Obamacare would save people money and wouldn't affect your provider. They make these promises (lies) to dupe the American public into getting on board. How ironic their biggest tag-line for everything is how the GOP does nothing but lie. They lie with everything they say and on a much grander scale.
Their whole angle is attacking billionaire CEOs of major corporations, yet who will be the most affected by such a tax hike will be upper middle class families. Taxing the rich won't even work. You tax them more, you eliminate more jobs. The rich are smart, they know how to restructure to maintain their bottom lines. A family of 4 with a household income of $400k can't do that. Taxing the rich isn't going to help low earners either. It's going to result in decreased wages when corporations decrease salaries and eliminate jobs. Maybe just maybe the solution is to lower taxes so that more Americans have more disposable cash to put into the economy.
This post was edited on 9/17/20 at 2:30 pm
Posted on 9/17/20 at 2:26 pm to gthog61
The DNC
Posted on 9/17/20 at 2:27 pm to Seldom Seen
quote:
Biden: If you make under $400k you will not pay a penny more in taxes when I'm president!
Typo, it's $40k in reality
Posted on 9/17/20 at 2:29 pm to Seldom Seen
quote:
If you make under $400,000, you will not pay a penny more in taxes when I'm president.
He's right...you will pay thousands of dollars more.
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