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re: Leftists of the board tell us you are fine with Presidents having dementia.
Posted on 2/23/23 at 3:22 pm to BBONDS25
Posted on 2/23/23 at 3:22 pm to BBONDS25
quote:
Holy shite. You realize TCJA is still the law, right? You far left wackos are hilarious. You don’t even know what you’re arguing.
Are you dumb? You don't even know what you're talking about
Many of the tax cut provisions in the TCJA reversed during the Biden administration as many of them were designed to sunset after Trump's term.
Biden also passed the Inflation Reduction Act which is expected to raise a lot of money as well as other bills that include tax rises.
The whole point was tax revenues rise year on year because of inflation + economic growth. That's to be expected which is why tax revenue is now $4.9 trillion.
Tax revenue barely rose during the Trump administration which is the opposite of what you'd expect so it wasn't the case that tax revenue rose as a result of the tax cut.
quote:
The $437 billion spending package is expected to raise $737 billion in revenue over the next decade, the biggest share coming from reductions in drug prices for Medicare recipients and tax hikes on corporations. Roughly $124 billion is expected to come from increased IRS enforcement, meaning tougher and more frequent audits for the wealthy. It’s projected to reduce the deficit by more than $300 billion over a decade.
quote:
And the four years after that? Do you really think making an argument about a single year is compelling when discussing the tax code? What a moron. Even more hilarious is you cite one year then ignore the following four.
It's hilarious because you clearly did not read my comment as I talked about the following 4 years.
The following 4 where tax revenue barely moved (which was the entire point I was making - you've supported my point - the link I provided even shows it).
I talked about it in my comment if you read it. You clearly did not read it you dumb arse.
I literally work at Fidelity in their Investment Research team. This tells me you don't understand the things you say because you missed the point entirely.
So yes, I repeat that you're the dumbest commenter I've seen considering you somehow failed to understand the point being made.
Well done.
This post was edited on 2/23/23 at 3:26 pm
1
Posted on 2/23/23 at 5:48 pm to CAPEX
quote:
Are you dumb? You don't even know what you're talking about
Nah. Just a tax attorney.
quote:
Many of the tax cut provisions in the TCJA reversed during the Biden administration as many of them were designed to sunset after Trump's term.
Which ones, specifically have already reversed? The sunset is set for Dec 31, 2025.
quote:
I literally work at Fidelity in their Investment Research team.
I’m impressed. This post was edited on 2/23/23 at 5:52 pm
Posted on 2/23/23 at 6:12 pm to BBONDS25
quote:
Which ones, specifically have already reversed? The sunset is set for Dec 31, 2025.
Reversal of out-of-pocket medical expenses (including costs for health insurance) being deductible from above 7.5% of AGI to 10 percent of AGI. That's a reversal by my definition and a tax rise under Biden.
Another one is the amortization of R&D expenditure instead of expensing on the income statement.
The TCJA essentially means that R&D costs are no longer expensed in the first year and instead are amortized over 5 years.
Capitalizing costs on your balance sheet instead of expensing them means that your net income reduces over time instead of immediately in the first year. This is effectively a tax increase from the first year increase in net income (amortizing reduces your net income in subsequent years).
This is pretty much a reversal from expensing - it removes the option of companies being able to expense R&D in the same taxable year.
This post was edited on 2/23/23 at 6:22 pm
Posted on 2/23/23 at 6:22 pm to NawlinsTiger9
Record turnout?? Record ballot harvesting operation. Ballots that required the ability to read, sign where indicated and have a competent literate witness. Amazing how this was accomplished by 99.9 percent of ballots submitted.
Posted on 2/23/23 at 6:34 pm to CAPEX
And those “rises” in taxation are what you attribute the increase in receipts to? Shall we dig into the accuracy of your claims and characterizations? Then we can attack the alleged increase to receipts based upon those “rises”?
This post was edited on 2/23/23 at 6:46 pm
Posted on 2/23/23 at 6:46 pm to BBONDS25
quote:
And those “rises” in taxation are what you attribute the increase in receipts to? Shall we dig into the accuracy of your characterizations and the claimed increase to receipts based upon those “rises”?
No.
My whole point was that inflation and economic growth are the ones driving the higher tax receipts. Under any normal economy, tax revenue naturally always increases year-on-year.
Under Biden's administration, taxes have increased by over $900 billion because of inflation + economic growth.
The point was that Trump's tax cuts didn't raise revenue in real terms - they decreased taxes in real terms.
You missed my entire point.
quote:
Shall we dig into the accuracy of your characterizations and the claimed increase to receipts based upon those “rises”?
I never said that.
In my comment that you replied to, you also failed to read the section where I clearly attributed the increase in tax to an increase in inflation + economic growth.
Posted on 2/23/23 at 6:51 pm to CAPEX
quote:
In my comment that you replied to, you also failed to read the section where I clearly attributed the increase in tax to an increase in inflation + economic growth.
Receipts have mirrored inflation. That is correct. So the tax cut was a good thing, right?
Posted on 2/23/23 at 7:18 pm to BBONDS25
quote:
Receipts have mirrored inflation. That is correct. So the tax cut was a good thing, right?
Tax revenue would likely be even higher without repealing tax revenues. The point was, taxes keeping up with inflation is to be expected - saying it was an achievement to have taxes reach the highest level they've ever been when they barely increased was not an argument was my point
In real terms, taxes were actually cut - taxes absolutely did not kept pace with inflation until 5 years later and there are reasons to suggest that this is not because of the bill but in spite of it.
But the big issue why I opposed it is the allocation of tax cuts and tax rises in the bill + the fact that spending wasn't cut either. They tried to save money in the bill by preventing companies from expensing R&D - this reduces innovation and R&D investment.
It made no sense to cut taxes in 2017 when the economy was running okay.
Posted on 2/23/23 at 8:13 pm to CAPEX
Spending should be cut drastically. I will never argue against a tax cut when revenues aren’t the problem.
Posted on 2/23/23 at 8:28 pm to BBONDS25
quote:
Nah. Just a tax attorney.
and there it is
Posted on 2/24/23 at 9:11 pm to davyjones
quote:
But whether you do or whether you don’t, the proposition that anyone (and everyone) who cast a vote for Biden was in reality casting a vote against Trump, that’s blatantly irrational and illogical and absurd and preposterous and so on and so forth.
Are you comatose?
Trump's average job approval ratings for his presidency were record low numbers.
His rating at the time of the election according to Gallop was 46%.
Posted on 2/24/23 at 10:21 pm to CAPEX
Yea vote for communism and killing babies. Why don’t we just go ahead and pack our bags and move to China so we can just get it over with and get our shite pushed in by the Chinese government. Because that what America is asking for apparently.
Posted on 2/25/23 at 3:54 am to roadGator
They are totally OK with it - they even expect it - the last thing they want as a POTUS is someone who had the ability to actually think for himself, much less one with any character.
They want the ever-changing slimy mob mentality to work its way to the top thru their 'influencers' so that 'today's mandate' can be wholly proscribed without any repercussions when the whole thing changes the next day.
What they want is an ever-changing "most critical thing" to devote all financial and legal assistance to - on a moment-by-moment notice.
Leaders with a rational mind and an ounce of integrity will never work out well for them.
They want the ever-changing slimy mob mentality to work its way to the top thru their 'influencers' so that 'today's mandate' can be wholly proscribed without any repercussions when the whole thing changes the next day.
What they want is an ever-changing "most critical thing" to devote all financial and legal assistance to - on a moment-by-moment notice.
Leaders with a rational mind and an ounce of integrity will never work out well for them.
Posted on 2/25/23 at 3:56 am to texridder
quote:
comatose
that mirror thingy is leading you astray again.
Posted on 2/26/23 at 9:48 pm to BugAC
quote:
Yeah. Why don't you post those horse-shite statistical impossibilities, so I can demonstrate, one by one, why they are horse-shite.
Do you know what a statistical anomaly is?
Why didn't you include examples in your post?
Posted on 2/26/23 at 10:11 pm to BBONDS25
quote:I would love to see lower taxes, but we should not cut taxes by $1.00, unless those reductions are offset by $1.25 in spending reduction.
Spending should be cut drastically. I will never argue against a tax cut when revenues aren’t the problem.
That is the only way that we will ever address the deficit. In the long run, the deficit is the biggest problem we face.
This post was edited on 2/26/23 at 10:24 pm
Posted on 2/26/23 at 10:20 pm to NawlinsTiger9
1) I’ve only been here for a few weeks
2) I don’t even like Trump, I think he will destroy the Republican Party
3) You are truly a dumbass
2) I don’t even like Trump, I think he will destroy the Republican Party
3) You are truly a dumbass
Posted on 2/26/23 at 11:43 pm to texridder
quote:
Are you comatose?
Trump's average job approval ratings for his presidency were record low numbers.
His rating at the time of the election according to Gallop was 46%
In your fit of frustration you blatantly missed the glaringly relevant context within my nearly week old post, and thus failed to grasp its unambiguous point. And then even introduced the blunder with typical petulant insolence.
Posted on 2/27/23 at 12:24 am to roadGator
They’ll never be honest
Posted on 2/27/23 at 2:22 am to roadGator
quote:
Leftists of the board tell us you are fine with Presidents having dementia.
Pepperidge Farm remembers when Democrats were going crazy about Reagan and this advanced age and possible dementia.
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