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re: The “Inflation Reduction Act” raises taxes for everyone making over $30K per year

Posted on 7/30/22 at 5:36 pm to
Posted by NineLineBind
LA....no, the other one
Member since May 2020
8428 posts
Posted on 7/30/22 at 5:36 pm to
quote:

The “Inflation Reduction Act

Democrats always name their bills the opposite of what they actually do. It’s so easy to see.
Posted by armsdealer
Member since Feb 2016
12280 posts
Posted on 7/30/22 at 5:36 pm to
quote:

Considering middle class is considered 40k in Louisiana I would assume a lot of people.


That is poor. Not OT poor but really poor in 2022.
Posted by deltaland
Member since Mar 2011
100763 posts
Posted on 7/30/22 at 5:41 pm to
They must know they are going to cheat in the elections and win.

No rational politician would do this if a fair election was coming up.

I seriously hate these people
Posted by FearlessFreep
Baja Alabama
Member since Nov 2009
19594 posts
Posted on 7/30/22 at 5:49 pm to
quote:

Democrats always name their bills the opposite of what they actually do.
Eh, probably not accurate in this instance.

I mean, taking spending money out of the hands of people who earn it will likely reduce inflation. At least in theory.
Posted by KCMIZSEC
Member since Sep 2013
2199 posts
Posted on 7/30/22 at 6:09 pm to
Not a problem at all for Democrats. They'll just change the definition of tax increase.
Posted by KAGTASTIC
Member since Feb 2022
7989 posts
Posted on 7/30/22 at 6:31 pm to
You know this is legit when it's gone to page 2 and none of the board leftie trolls chime in with their defensive spin.

Posted by oldskule
Down South
Member since Mar 2016
23340 posts
Posted on 7/30/22 at 8:23 pm to
At the end of the day, ALL TAXES are paid by the final consumer!
Posted by llfshoals
Member since Nov 2010
20623 posts
Posted on 7/30/22 at 8:28 pm to
Looks like I’m headed for a 24% increase according to that
Posted by tarzana
TX Hwy 6-- the Brazos River Valley
Member since Sep 2015
30780 posts
Posted on 7/30/22 at 10:32 pm to
quote:

the pre-Obama era Democrats still always loved them some tax money

Clinton's bold initiative in advocating tax increases was in fact fiscally responsible, and produced a balanced budget around the turn of the century.

That's a great gulf fixed from Trump's tax cuts for The Rich, which we could not afford, and paved the way for a 43-seat house landslide in 2018 and a Pelosi speakership. Whether or not some felt the tax cuts were justified, the optics of them were just atrocious.
Posted by David_DJS
Member since Aug 2005
21899 posts
Posted on 7/30/22 at 11:01 pm to
quote:

That's a great gulf fixed from Trump's tax cuts for The Rich, which we could not afford, and paved the way for a 43-seat house landslide in 2018 and a Pelosi speakership. Whether or not some felt the tax cuts were justified, the optics of them were just atrocious.

Did the wealth gap grow or shrink under Trump?
Posted by sparkinator
Lake Claiborne
Member since Dec 2007
4979 posts
Posted on 7/30/22 at 11:20 pm to
quote:

Clinton's bold initiative in advocating tax increases was in fact fiscally responsible, and produced a balanced budget around the turn of the century.


And who was speaker of the house?

You know Congress works with President on spending?

The President submits a budget but Congress holds the purse strings.

Who held him and Killary in check with her Socialist policies?

Who had a contract with America?
This post was edited on 7/30/22 at 11:21 pm
Posted by Vandergriff
Member since Nov 2020
1504 posts
Posted on 7/30/22 at 11:28 pm to
He's the most dishonest president in American history. His administration knowingly lies every single day about most every issue we face.

However, the big corporate media and big tech companies do not care and in fact encourage it.

If Trump were in office, or any republican for that matter, you'd see a graphic every single day on cnn and msnbc counting the lies being told.

We are done as a country because one side will never have to be accountable for anything they say or do. That's just the way it is.
Posted by RobertFootball
SC
Member since Mar 2021
2208 posts
Posted on 7/30/22 at 11:29 pm to
Anytime the government takes money that you earned from you, that’s BAD.
Posted by LSUSkip
Central, LA
Member since Jul 2012
24717 posts
Posted on 7/31/22 at 12:00 am to
quote:

Who tf doesn't make 30K?


I'll give you 3 guesses and the first two don't count.
Posted by imjustafatkid
Alabama
Member since Dec 2011
62964 posts
Posted on 7/31/22 at 12:23 am to
quote:

Who tf doesn't make 30K?


Welfare doesn't get counted in income.
Posted by Powerman
Member since Jan 2004
170785 posts
Posted on 7/31/22 at 12:50 am to
If Republicans weren't completely inept they could make this his George Bush moment. But they snatch defeat from the jaws of victory more consistently than the sun rising.
Posted by Eurocat
Member since Apr 2004
16601 posts
Posted on 7/31/22 at 12:57 am to
If you look at the last column on the right (which the OP left off his post) you will indeed see that these taxes will go up.

But by almost laughably small amounts.

In fact you know whose go up the most? Those who make less than 10k.

For example those who pay taxes on 50 to 75k will see it rise from 13.0 to 13.1

One bracket below will rise from 10.4 to 10.5

One bracket above goes from 15.8 to 16.0

For every thousand dollars a person pays in taxes it will go up ten dollars according to the chart (that was not linked in the OP). All the way on the right...

The biggest hit is on those over 100k - their tax bill will go up by 30 dollars per thousand that they pay. Hey, but Biden said no raised taxes so, sure, you got him, he raised them by 0.1 to 0.3 percent!

LINK
Posted by DavidTheGnome
Monroe
Member since Apr 2015
31348 posts
Posted on 7/31/22 at 12:57 am to
Inflation Reduction Act

If, and that’s a humongous IF all they do is raise taxes and use it to pay off debt that’s one thing. We need to stop putting more and more and more on the credit card and having our kids pay for it, and it was horribly sad to see so many “fiscally responsible conservatives cheering when Trump used his political capital to make his tax cuts but didn’t focus on what really needed to be addressed which was government spending.

So for this bill I wonder if they are just raising taxes or will it be coupled with more spending tied to it.
Posted by ConcreteThreshold
Denver, CO
Member since Jun 2017
1688 posts
Posted on 7/31/22 at 3:01 am to
Come on Jack, none of the experts saw inflation coming.

This is an emergency!
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135762 posts
Posted on 7/31/22 at 6:16 am to
quote:

The 50% that don't pay taxes.
Yep.

57% of U.S. households paid no federal income tax last year
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