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what's up with biden choosing $400,000 as the cutoff for tax increases?

Posted on 10/2/20 at 8:51 pm
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
73015 posts
Posted on 10/2/20 at 8:51 pm
such a random and high number.

at least obama's 250,000 number made somewhat sense.

if a household earning 400k is wealthy and needs to pay fair share, why not 300k or 350k?

a lot of progressives should be angry biden is (if he is to be believed) not going after a lot more potential tax revenue from "rich" households.
Posted by Mrtommorrow1987
Twilight Zone
Member since Feb 2008
13442 posts
Posted on 10/2/20 at 8:52 pm to
Bc its a fricking lie
Posted by BeNotDeceivedGal6_7
Member since May 2019
7439 posts
Posted on 10/2/20 at 8:52 pm to
400k is top 1%. Kinda hard to raise trillions of dollars for those plans he’s talking about. He will tax us all.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
112001 posts
Posted on 10/2/20 at 8:53 pm to
Because it's bullshite
Posted by xGeauxLSUx
United States of Atrophy
Member since Oct 2008
22453 posts
Posted on 10/2/20 at 8:55 pm to
quote:

what's up with biden choosing $400,000 as the cutoff for tax increases?

Gee, I wonder how much a President's yearly salary is?
Posted by tiggerthetooth
Big Momma's House
Member since Oct 2010
63919 posts
Posted on 10/2/20 at 8:55 pm to
They'll have to raise taxes on anyone with a household income over $100k if they want to accomplish their plans.
Posted by UcobiaA
The Gump
Member since Nov 2010
4127 posts
Posted on 10/2/20 at 8:55 pm to
He made it anything over 400k because the president makes 400k. Got to protect his income.
Posted by ValDawgsta
Member since Jan 2020
1542 posts
Posted on 10/2/20 at 8:56 pm to
Isn’t 250k in 2008 fairly similar to 400k today?

Obviously there’s still a gap, but with inflation aren’t the two salaries somewhat similar?

I’ll admit to being nowhere near either so I could be off on this.
Posted by jlc05
Member since Nov 2005
33372 posts
Posted on 10/2/20 at 8:57 pm to
Whitey will pay more
Posted by AA7
Birmingham, AL
Member since Nov 2009
28336 posts
Posted on 10/2/20 at 9:03 pm to
quote:

Isn’t 250k in 2008 fairly similar to 400k today?

No, it would be similar to 300k today. You’d have to go back to the late 90’s to get that kind of inflation.
Posted by ultratiger89
Houston, Tx
Member since Aug 2007
3637 posts
Posted on 10/2/20 at 9:15 pm to
quote:

Gee, I wonder how much a President's yearly salary is?


BINGO!
Posted by CoonassatTEXAS
Austin, TX
Member since Nov 2005
1240 posts
Posted on 10/2/20 at 9:22 pm to
250-350k really isn’t that much. I guess you start to get well off after 400k plus (though I wouldn’t really say life is easy till 600k
Posted by SoDakHawk
South Dakota
Member since Jun 2014
9959 posts
Posted on 10/2/20 at 9:23 pm to
$400k income isn't rich these days. Hell, that's not even close to being independently wealthy.

Yeah, in South Dakota or maybe Louisiana that's a lot if money, but in LA, New York, Chicago, etc. $400k is doing really well but you're a couple bad years and bad breaks from being homeless.

I drinking hate class warfare.
Posted by Choctaw
Pumpin' Sunshine
Member since Jul 2007
77774 posts
Posted on 10/2/20 at 9:24 pm to
Hunter is making 399k
Posted by moneyg
Member since Jun 2006
61728 posts
Posted on 10/2/20 at 9:36 pm to
400k is a killer to small business owners.

That's the intent.
Posted by bird35
Georgia
Member since Sep 2012
13404 posts
Posted on 10/2/20 at 9:37 pm to
I remember when Clinton said he would only raise taxes on the rich.


Then he raised taxes on FAMILIES making 35,000 and up.

I told my wife, congratulations we are rich.

Posted by Gus007
TN
Member since Jul 2018
14001 posts
Posted on 10/2/20 at 9:50 pm to
Biden has the credibility as the MSM.
$400,000. is just a number that came out of his scrambled mind.
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
94666 posts
Posted on 10/2/20 at 9:52 pm to
quote:

such a random and high number.



It's a lie, like they always do.

If he "rolls back" Trump's tax cuts, that's a tax increase on literally every motherfricker who pays 1 red cent of taxes.

And that will just be the beginning.
Posted by NoSaint
Member since Jun 2011
12436 posts
Posted on 10/2/20 at 9:54 pm to
quote:

Gee, I wonder how much a President's yearly salary is?


Yea because that incremental tax on his last 50k was a major concern I’m sure, compared to doing 350k
Posted by NoSaint
Member since Jun 2011
12436 posts
Posted on 10/2/20 at 9:55 pm to
quote:

Hunter is making 399k


Are you one of those guys that turns down a raise to avoid changing tax brackets?
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