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Biden's Tax Plan Will Lead To A Combined Rate Of 62% In Some States
Posted on 10/20/20 at 10:10 am
Posted on 10/20/20 at 10:10 am
It's like they are trying to flip California and New York back to RED
The highest earners in the states of New York, New Jersey and California could end up facing a combined state and federal tax rate of 62% under Democratic presidential nominee Joe Biden's tax plan, in what would be the highest tax rate implemented in more than 30 years.
The high rate would affect those earning more than $400,000 while those earning below that level would likely receive tax cuts, according to the Tax Foundation, a low-tax advocacy group.
Earners above $400,000 represent at most 1.8% of the population - and Biden has made making them pay more part of his campaign.
LINK
The highest earners in the states of New York, New Jersey and California could end up facing a combined state and federal tax rate of 62% under Democratic presidential nominee Joe Biden's tax plan, in what would be the highest tax rate implemented in more than 30 years.
The high rate would affect those earning more than $400,000 while those earning below that level would likely receive tax cuts, according to the Tax Foundation, a low-tax advocacy group.
Earners above $400,000 represent at most 1.8% of the population - and Biden has made making them pay more part of his campaign.
LINK
7
Posted on 10/20/20 at 10:22 am to 14&Counting
Should 38% appear to small,
be thankful I don't take it all,
Cause I'm the taxman and you are working for no one but ME!
be thankful I don't take it all,
Cause I'm the taxman and you are working for no one but ME!
Posted on 10/20/20 at 10:26 am to 14&Counting
Fitty done said, "frick that. I'm votin Trump."
Posted on 10/20/20 at 10:26 am to 14&Counting
And people are already moving out of these states in droves. If their fed tax rate shoots up, good luck California and New York 
Lots of big time youtubers and other personalities I've seen are leaving these states, specifically California a lot due to what it's become recently. They arepaying sky high taxes and getting out of control homelessness in their neighborhoods where they dont even feel safe going out anywhere.
Lots of big time youtubers and other personalities I've seen are leaving these states, specifically California a lot due to what it's become recently. They arepaying sky high taxes and getting out of control homelessness in their neighborhoods where they dont even feel safe going out anywhere.
This post was edited on 10/20/20 at 10:28 am
Posted on 10/20/20 at 10:28 am to stat19
quote:
Fitty done said, "frick that. I'm votin Trump."
Fiddy, Kanye, and every rapper and athlete will turn MAGA when they realize their money is being fricked with.
Posted on 10/20/20 at 10:30 am to 14&Counting
Someone please wake up the sheep and tell them to vote their self-interest.
Posted on 10/20/20 at 10:33 am to thunderbird1100
quote:
Lots of big time youtubers and other personalities I've seen are leaving these states, specifically California a lot due to what it's become recently.
But still vote the same way they did in California.
Posted on 10/20/20 at 10:49 am to 14&Counting
quote:
and athlete will turn MAGA when they realize their money is being fricked with.
have you met these guys? There is a reason they end up destitute after their playing days are over.
Posted on 10/20/20 at 10:51 am to UnitedFruitCompany
quote:
have you met these guys? There is a reason they end up destitute after their playing days are over.
Let me guess why.
because they are low IQ to begin with and ignorant because they have been pandered to their entire lives
and run of the mill pros are disposed of like used toilet paper when they are no longer useful
Posted on 10/20/20 at 10:52 am to 14&Counting
50 cent the rapper is not happy about it either.
Posted on 10/20/20 at 10:55 am to 14&Counting
quote:
The highest earners in the states of New York, New Jersey and California could end up facing a combined state and federal tax rate of 62% under Democratic presidential nominee Joe Biden's tax plan, in what would be the highest tax rate implemented in more than 30 years.
Tax lawyers and CPAs are going to love his plan. Higher tax rates = more deductions = rich people paying more to CPAs and attorneys in order to save $$$ overall + less rich people paying more in taxes.
Posted on 10/20/20 at 10:56 am to 14&Counting
quote:
Taxpayers in California, New Jersey and New York who earn more than $400k a year could face combined state and local income tax rates of more than 60%
Posted on 10/20/20 at 1:02 pm to 14&Counting
quote:
Fiddy, Kanye, and every rapper and athlete will turn MAGA when they realize their money is being fricked with.
Lebron James is not smart enough to realize something like that.
This post was edited on 10/20/20 at 1:15 pm
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