go educate yourselfWhat rule?hahaa the senate rules required it. The dems wouldn’t extend itDems didn't build the expiration into the bill. This wouldn't be a problem if Republicans cared about the working class.The ones the Dems are allowing to expire, and thus raise taxes on the working class? GotchaThe thread is about the Trump tax cuts.
TrumpAbused? You are still dreaming.
Each of the above posts is a separate post by you obsessing over Trump.
Seek help soon.
Dumb ass.
if the dems cared they’d extend it. why haven’t they?
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2017 Trump Tax Cuts did not go to the wealthiest 1%
- Thread starter task0778
- Start date
colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
It doesn’t exist.go educate yourselfWhat rule?hahaa the senate rules required it. The dems wouldn’t extend itDems didn't build the expiration into the bill. This wouldn't be a problem if Republicans cared about the working class.The ones the Dems are allowing to expire, and thus raise taxes on the working class? GotchaThe thread is about the Trump tax cuts.TrumpThe tax cuts had to have a sunset cause due to congressional rules
Trumpcolfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
Trump
Trump.WAAAAAHHHHHHHHHHHHHHHHHHH.........WAAAAAAHHHHHHHHHHHHH.......ORANGE MAN............ORANGE MAN!!!!!!!!!!!!!!!What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
You’re bitching that he’s not doing something in four months that Trump didn’t do in 4 years. Pathetic.
Trump is no longer in office, Stupid.
Please try to keep up.
Pedo Joe, Nazi, and Chucky are ignoring the middle class (as always).
How long does it take to write a bill saying "ALL TRUMP ACROSS THE BOARD TAX CUTS ARE NOW PERMANENT", and then vote on it? A couple of hours in the House and a couple of hours in the Senate?
TrumpHilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
TrumpI did answer your question, Stupid.Hilarious how your diseased mind won’t allow you to be rational and answer a simple question.Hilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
Because your god emperor Trump can never be allowed to be wrong.
You’re really sad.
Trump cut taxes for EVERYONE.
As you’re now realizing (at least you would if you weren’t an idiot) is that the increase in the standard deduction was basically a wash for most families given it eliminated personal exemptions.It will reduce their standard deduction to $18,700 but they will pick up $10,000 in personal exemptions.
Trump
Trump
TrumpAbused? You are still dreaming.I know. Your brain is too warped to acknowledge it.Keep dreaming.
It’s sad really. Seeing someone so abused as to detach themselves from reality. I hope you get help someday.
Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
TrumpWhen will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
They already did with the stimulus bill.So you don't know if your Dimwinger leaders will ever give the working folks some help.Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
Don’t know when the tax reform will happen. It’s just one item on a long list of problems Trump never addressed. But one thing is for sure, it doesn’t have to be addressed anytime soon.When will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
At least you admit it.
Trump
Each of the above posts is a separate post by you obsessing over Trump.
Seek help soon.
Dumb ass.
if the dems cared they’d extend it. why haven’t they?
Colin norris
Platinum Member
- Apr 25, 2021
- 10,427
- 4,109
- 928
- Banned
- #223
In a speech last week introducing his proposed $6 trillion 2022 budget, President Biden claimed that the benefits of the Republican Party’s Tax Cuts and Jobs Act “went to the wealthiest 1% of America.” It’s not the first time he’s made this claim, but it is a LIE.
Let’s start with that supposedly “huge windfall” that went to the “wealthiest 1%” of America. While the TCJA reduced effective income tax rates for all income groups in 2018, the top 1% experienced no windfall. Rather, according to the most recent IRS income tax data, the top 1% of taxpayers paid $616 billion in 2018, roughly the same amount they paid in 2017. But the bottom 99% paid $65 billion less. Some “windfall.” If the TCJA was a tax cut for the rich, it was the weirdest one in the history of tax cuts for the rich.
SOI Tax Stats - Individual Income Tax Rates and Tax Shares | Internal Revenue Service
Access data, articles and tables on individual income tax rates and tax shares.www.irs.gov
But did those evil 1-percenters pay their fair share? Turns out they did – and certainly a larger share than when tax rates were last at Biden’s proposed 39.6%.
In 2018, while the top 1%’s share of adjusted gross income declined slightly to 20.9% (from 21.0% in 2017), its share of the income tax burden increased to 40.1% from 38.5%. “Fair” is in the eye of the beholder, but consider: The top 1%’s share of taxes paid nearly doubles its share of income. For more “fair share” perspective, consider that in 2018, the top 1% paid more in income taxes than the bottom 90% of taxpayers – combined.
Biden also might be surprised to learn that the top 1% actually paid a higher percentage of income taxes in 2018 under the TCJA than in any year since at least 2001 – when it paid 33.2%. That includes each of the five years from 2013 to 2017 following the Obama tax hikes, when the top rate last stood at 39.6% – the rate Biden is currently proposing.
Biden and the 1 Percent | RealClearPolitics
In a speech last week introducing his proposed $6 trillion 2022 budget, President Biden claimed that the benefits of the Republican Partys Tax Cuts and Jobs...www.realclearpolitics.com
So, how did that happen? Glad you asked:
.... the TCJA increased taxable income for wealthier Americans by reducing the itemized deductions they could claim. High earners generally benefit more from itemizing deductions. Lower earners generally benefit more from the standard deduction. The TCJA increased the standard deduction and limited itemized deductions.
According to IRS data, following the TCJA, the amount taxpayers claimed for itemized deductions dropped by 55%, from about $1.46 trillion in 2017 to about $650 billion in 2018. That’s over $800 billion that was taxed in 2018 but not in 2017, most of which came from the rich people. (see link above)
Hello SALT deduction, which was a big part of that. Funny how the Dems want to raise taxes on the rich but not THEIR rich, the ones that live in their blue states.
So, when somebody says the Trump tax cuts benefited the rich, you know they are either misinformed or outright lying. Probably they've been watching CNN or MSNBC a little too much.
You're preaching to republicans on here son. Apart from the fact it's rubbish. But they did think trump was God so it doesn't surprise me they'd believe that also.
It comes under the trickle down economics of Reagan, the GWB and now trump. It never worked on any occasion and no amount of protection of the 1% who trousered the lot will justify it.
.
frigidweirdo
Diamond Member
- Mar 7, 2014
- 46,235
- 9,778
- 2,030
Doesn't mean they weren't paying LESS in tax on what they were making. The US economy was better in 2018 than 2017, they should have been paying MORE in 2018.
Yes, it was better, that was the whole point of cutting tax rates, to make the economy grow stronger.
The problem with the US and their tax cutting is that they're encouraging boom and bust. Which benefits the rich.
This is not true, tax cutting does encourage economic growth, which benefits everybody. Consumers, employees, investors, pensions, anybody with a 401k.
Yes, in the short term it can encourage economic growth. The problem is if you have too much growth, it'll cause problems later on. It's called boom and bust and happens ALL THE TIME in the US. Take 2008 as an example.
7 million people lost their homes. Millions lost their jobs. But hey, some billionaires became EVEN RICHER.
check the budget reconciliation process rules...idiot.It doesn’t exist.go educate yourselfWhat rule?hahaa the senate rules required it. The dems wouldn’t extend itDems didn't build the expiration into the bill. This wouldn't be a problem if Republicans cared about the working class.The ones the Dems are allowing to expire, and thus raise taxes on the working class? GotchaThe thread is about the Trump tax cuts.TrumpThe tax cuts had to have a sunset cause due to congressional rules
Trumpcolfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
Trump
Trump.WAAAAAHHHHHHHHHHHHHHHHHHH.........WAAAAAAHHHHHHHHHHHHH.......ORANGE MAN............ORANGE MAN!!!!!!!!!!!!!!!What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
You’re bitching that he’s not doing something in four months that Trump didn’t do in 4 years. Pathetic.
Trump is no longer in office, Stupid.
Please try to keep up.
Pedo Joe, Nazi, and Chucky are ignoring the middle class (as always).
How long does it take to write a bill saying "ALL TRUMP ACROSS THE BOARD TAX CUTS ARE NOW PERMANENT", and then vote on it? A couple of hours in the House and a couple of hours in the Senate?
TrumpHilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
TrumpI did answer your question, Stupid.Hilarious how your diseased mind won’t allow you to be rational and answer a simple question.Hilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
Because your god emperor Trump can never be allowed to be wrong.
You’re really sad.
Trump cut taxes for EVERYONE.
As you’re now realizing (at least you would if you weren’t an idiot) is that the increase in the standard deduction was basically a wash for most families given it eliminated personal exemptions.It will reduce their standard deduction to $18,700 but they will pick up $10,000 in personal exemptions.
Trump
Trump
TrumpAbused? You are still dreaming.I know. Your brain is too warped to acknowledge it.Keep dreaming.
It’s sad really. Seeing someone so abused as to detach themselves from reality. I hope you get help someday.
Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
TrumpWhen will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
They already did with the stimulus bill.So you don't know if your Dimwinger leaders will ever give the working folks some help.Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
Don’t know when the tax reform will happen. It’s just one item on a long list of problems Trump never addressed. But one thing is for sure, it doesn’t have to be addressed anytime soon.When will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
At least you admit it.
Trump
Each of the above posts is a separate post by you obsessing over Trump.
Seek help soon.
Dumb ass.
if the dems cared they’d extend it. why haven’t they?
Nostra
Diamond Member
- Oct 7, 2019
- 65,212
- 56,040
- 3,615
Dims control everything right now. Why aren't they doing something to help working folks?Dems didn't build the expiration into the bill. This wouldn't be a problem if Republicans cared about the working class.The ones the Dems are allowing to expire, and thus raise taxes on the working class? GotchaThe thread is about the Trump tax cuts.TrumpThe tax cuts had to have a sunset cause due to congressional rules
Trumpcolfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
Trump
Trump.WAAAAAHHHHHHHHHHHHHHHHHHH.........WAAAAAAHHHHHHHHHHHHH.......ORANGE MAN............ORANGE MAN!!!!!!!!!!!!!!!What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
You’re bitching that he’s not doing something in four months that Trump didn’t do in 4 years. Pathetic.
Trump is no longer in office, Stupid.
Please try to keep up.
Pedo Joe, Nazi, and Chucky are ignoring the middle class (as always).
How long does it take to write a bill saying "ALL TRUMP ACROSS THE BOARD TAX CUTS ARE NOW PERMANENT", and then vote on it? A couple of hours in the House and a couple of hours in the Senate?
TrumpHilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
TrumpI did answer your question, Stupid.Hilarious how your diseased mind won’t allow you to be rational and answer a simple question.Hilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
Because your god emperor Trump can never be allowed to be wrong.
You’re really sad.
Trump cut taxes for EVERYONE.
As you’re now realizing (at least you would if you weren’t an idiot) is that the increase in the standard deduction was basically a wash for most families given it eliminated personal exemptions.It will reduce their standard deduction to $18,700 but they will pick up $10,000 in personal exemptions.
Trump
Trump
TrumpAbused? You are still dreaming.I know. Your brain is too warped to acknowledge it.Keep dreaming.
It’s sad really. Seeing someone so abused as to detach themselves from reality. I hope you get help someday.
Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
TrumpWhen will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
They already did with the stimulus bill.So you don't know if your Dimwinger leaders will ever give the working folks some help.Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
Don’t know when the tax reform will happen. It’s just one item on a long list of problems Trump never addressed. But one thing is for sure, it doesn’t have to be addressed anytime soon.When will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
At least you admit it.
Trump
Each of the above posts is a separate post by you obsessing over Trump.
Seek help soon.
Dumb ass.
They have yet to even mention making Trump's across the board tax cuts permanent. Why is that colfax_m
alll they are doing is raising taxes o the working manDims control everything right now. Why aren't they doing something to help working folks?Dems didn't build the expiration into the bill. This wouldn't be a problem if Republicans cared about the working class.The ones the Dems are allowing to expire, and thus raise taxes on the working class? GotchaThe thread is about the Trump tax cuts.TrumpThe tax cuts had to have a sunset cause due to congressional rules
Trumpcolfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
Trump
Trump.WAAAAAHHHHHHHHHHHHHHHHHHH.........WAAAAAAHHHHHHHHHHHHH.......ORANGE MAN............ORANGE MAN!!!!!!!!!!!!!!!What’s the excuse for Trump not making it permanent himself? Sounds like he’s the one who didn’t give a shit about the working class.Excuses.............excuses...............Be patient. They’re still trying to finish cleaning up the giant pile of shit Trump left for them. Tax provisions don’t sunset for 4 more years so this isn’t the most immediate problem.colfax_m Why hasn't Pedo Joe, Nazi, and Chucky made them permanent? They control everything.The Republican Congress could have made tax cuts for the middle class permanent, but would have to add sunset provisions to the corporate tax cut. They had to chose who to prioritize and it wasn’t the average joe.nope the confessional rules didn’t require itTax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.
but that’s not keeping them peremanent
as we see the dembots trying to raise taxes there to...as if inflation under their policies hasn’t been enough...yet another burden to the cost of products and services to the working class
Face it, the clowns don't give a shit about the working class. They will do nothing, wait for them to expire, then bleat about Trump............and so will morons like you.
Right now Biden is finishing off the pandemic, working on infrastructure investment and withdrawing from Afghanistan.
Three things Trump said he’d do but never got around to.
You’re bitching that he’s not doing something in four months that Trump didn’t do in 4 years. Pathetic.
Trump is no longer in office, Stupid.
Please try to keep up.
Pedo Joe, Nazi, and Chucky are ignoring the middle class (as always).
How long does it take to write a bill saying "ALL TRUMP ACROSS THE BOARD TAX CUTS ARE NOW PERMANENT", and then vote on it? A couple of hours in the House and a couple of hours in the Senate?
TrumpHilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
TrumpI did answer your question, Stupid.Hilarious how your diseased mind won’t allow you to be rational and answer a simple question.Hilarious how you edit my post so all you can do is whine, cry, and bleat about Trump.
Because your god emperor Trump can never be allowed to be wrong.
You’re really sad.
Trump cut taxes for EVERYONE.
As you’re now realizing (at least you would if you weren’t an idiot) is that the increase in the standard deduction was basically a wash for most families given it eliminated personal exemptions.It will reduce their standard deduction to $18,700 but they will pick up $10,000 in personal exemptions.
Trump
Trump
TrumpAbused? You are still dreaming.I know. Your brain is too warped to acknowledge it.Keep dreaming.
It’s sad really. Seeing someone so abused as to detach themselves from reality. I hope you get help someday.
Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
TrumpWhen will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
They already did with the stimulus bill.So you don't know if your Dimwinger leaders will ever give the working folks some help.Who is obsessed? I’m merely pointing out your mental abuse to you, which is I admit fruitless given the abused often have a hard time admitting their problem.Your obsession with Trump is unhealthy.
Don’t know when the tax reform will happen. It’s just one item on a long list of problems Trump never addressed. But one thing is for sure, it doesn’t have to be addressed anytime soon.When will Pedo Joe, Nazi Pelousy, and Cryin' Chucky give the working folks some help?
At least you admit it.
Trump
Each of the above posts is a separate post by you obsessing over Trump.
Seek help soon.
Dumb ass.
They have yet to even mention making Trump's across the board tax cuts permanent. Why is that colfax_m
colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
I did. There is no rule that makes it impossible for the tax cuts for the middle class to have been made permanent.check the budget reconciliation process rules...idiot.
haha no you didn’tI did. There is no rule that makes it impossible for the tax cuts for the middle class to have been made permanent.check the budget reconciliation process rules...idiot.
because there is!
hahaa no you didn’tI did. There is no rule that makes it impossible for the tax cuts for the middle class to have been made permanent.check the budget reconciliation process rules...idiot.
the reconciliation process which they had to use because the dems were blocking it via the filibuster
only allows for a 10 years window in any rise to the deficient
the real question, why did dems block the tax cuts to the working class and why are they not extending it?
oh because dems don’t care about the working class
colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
They used reconciliation because they didn't want to negotiate with Democrats to gain 60 votes. That's their problem, not mine. They didn't even try.the reconciliation process which they had to use because the dems were blocking it via the filibuster
only allows for a 10 years window in any rise to the deficient
The second sentence is getting to the point but isn't very clear.
Did you realize that they made the corporate tax cuts permanent? They did that by baking in tax increases after 2025 which means that the bill doesn't increase the deficit after 10 years. Of course, they could have sunset the corporate tax cuts, and bake in tax increases for other people to make the middle class tax cut permanent, but they decided not to do that. Corporate tax cuts were more important than average Americans. They sold you out.
the dems made clear they were going to block it at all costThey used reconciliation because they didn't want to negotiate with Democrats to gain 60 votes. That's their problem, not mine. They didn't even try.the reconciliation process which they had to use because the dems were blocking it via the filibuster
only allows for a 10 years window in any rise to the deficient
The second sentence is getting to the point but isn't very clear.
Did you realize that they made the corporate tax cuts permanent? They did that by baking in tax increases after 2025 which means that the bill doesn't increase the deficit after 10 years. Of course, they could have sunset the corporate tax cuts, and bake in tax increases for other people to make the middle class tax cut permanent, but they decided not to do that. Corporate tax cuts were more important than average Americans. They sold you out.
they could wirh corp taxes because it didn’t violate the 10 year rule
and as we can see the “permanent” thing is meaningless since the next congress can change the law. As the dems are doing with corp taxes and are refusing to extend the working class cuts
no real surprise and no surprise you continue to deflect and ignore that
Nostra
Diamond Member
- Oct 7, 2019
- 65,212
- 56,040
- 3,615
So what is stopping Pedo Joe, Nazi, and Cryin’ Chucky?I did. There is no rule that makes it impossible for the tax cuts for the middle class to have been made permanent.check the budget reconciliation process rules...idiot.
Why do your leaders hate working folks?
not only are they raising taxes they want to create new taxes on themSo what is stopping Pedo Joe, Nazi, and Cryin’ Chucky?I did. There is no rule that makes it impossible for the tax cuts for the middle class to have been made permanent.check the budget reconciliation process rules...idiot.
Why do your leaders hate working folks?
ReinyDays
Gold Member
There is risk leaving our retirement contributions in our businesses ... if the business goes insolvent, we lose our retirement savings ... but the benefit is retirement income effectively tax-free ... the choice depends on our business skills ...
If you're doing retirement contributions then aren't you merely delaying the payment of taxes on that income until you begin to withdraw (realize) it? Not unlike an IRA or 401k, you don't pay taxes now but you will later.
I do know this: when you sell your house, whatever equity you realized is tax deductible up to a point. X is what you sold it for and Y is what you bought it for, and X - Y is a capital gain. And up to a certain amount it's tax free if the house was your home for at least a few years, whatever the number is.
I do know this: when you sell your house, whatever equity you realized is tax deductible up to a point. X is what you sold it for and Y is what you bought it for, and X - Y is a capital gain. And up to a certain amount it's tax free if the house was your home for at least a few years, whatever the number is.
Business assets are the treated the same ... except there's depreciation and recapture ... my situation was complicated by the fact I had been switching properties in and out of personal use ... that's something the IRS looks for ... our primary residence isn't subject to depreciation, nor capital gains taxes up to a certain amount as you've described ... our secondary residence is subject to capital gains (I believe) but depreciation is only allowed during those times it's available for renting ...
Last edited:
colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
The Dems weren’t even asked to participate and there was no attempt to negotiate. Show me where every dem said they’d block any attempt at tax reform at all costs. You can’t. It’s a lie.the dems made clear they were going to block it at all costThey used reconciliation because they didn't want to negotiate with Democrats to gain 60 votes. That's their problem, not mine. They didn't even try.the reconciliation process which they had to use because the dems were blocking it via the filibuster
only allows for a 10 years window in any rise to the deficient
The second sentence is getting to the point but isn't very clear.
Did you realize that they made the corporate tax cuts permanent? They did that by baking in tax increases after 2025 which means that the bill doesn't increase the deficit after 10 years. Of course, they could have sunset the corporate tax cuts, and bake in tax increases for other people to make the middle class tax cut permanent, but they decided not to do that. Corporate tax cuts were more important than average Americans. They sold you out.
they could wirh corp taxes because it didn’t violate the 10 year rule
and as we can see the “permanent” thing is meaningless since the next congress can change the law. As the dems are doing with corp taxes and are refusing to extend the working class cuts
no real surprise and no surprise you continue to deflect and ignore that
If they could make the corporate tax permanent, they could have made the middle class tax permanent.
Dems are not refusing to extend the middle class tax cut. That’s another lie.
task0778
Diamond Member
- Thread starter
- #236
And may millions more become richer too, people who were not billionaires and millionaires by reason of paying fewer taxes. As stated in the OP, according to IRS data in 2018 the rich people paid about the same in taxes that they did in 2017, but the rest of us paid some $65 billion less than before. So, those rich folks didn't get richer from the tax cut, they got richer from the economic effects from that tax cut, along with everyone else who had an IRA or 401k. Individually, the rich got more richer than the less wealthy individual cuz they had more money invested in the economy. Which in fact does create more jobs => more investment means more business start-ups and expansions.Doesn't mean they weren't paying LESS in tax on what they were making. The US economy was better in 2018 than 2017, they should have been paying MORE in 2018.
Yes, it was better, that was the whole point of cutting tax rates, to make the economy grow stronger.
The problem with the US and their tax cutting is that they're encouraging boom and bust. Which benefits the rich.
This is not true, tax cutting does encourage economic growth, which benefits everybody. Consumers, employees, investors, pensions, anybody with a 401k.
Yes, in the short term it can encourage economic growth. The problem is if you have too much growth, it'll cause problems later on. It's called boom and bust and happens ALL THE TIME in the US. Take 2008 as an example.
7 million people lost their homes. Millions lost their jobs. But hey, some billionaires became EVEN RICHER.
It appears you are trying to blame a downturn or recession on a tax cut, which IMHO is nonsense. People didn't lose their homes or their jobs in the last recession (2008) due to a tax cut in 2003, that happened for other reasons. It's basically the same thing as a gov't stimulus check, no? The gov't tries to stimulate spending by giving people free money, not much different from giving them more money to spend by way of taking less of what they earned in taxes.
task0778
Diamond Member
- Thread starter
- #237
Business assets are the treated the same ... except there's depreciation and recapture ... my situation was complicated by the fact I had been switching properties in and out of personal use ... that's something the IRS looks for ...
I get that, but you introduced the retirement income angle, which to me means you avoided paying taxes now in favor of paying them later when you realize whatever the value will be then for the assets you deferred paying taxes on this year. Now - there may be ways for you to avoid those future taxes by way of writing off losses or some such mechanism, but essentially the gov't determined that it is to society's benefit and the gov'ts too if they encourage you to re-invest that $441,450 that makes your business more profitable and creates more wealth that they eventually get more revenue from long term. Not to mention more jobs that your $441,450 investment might create too. I believe that sooner or later the gov't WILL get their piece of your action, dude.
ReinyDays
Gold Member
Okay, I stand corrected, apologies to ReinyDays.Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free* ... $0 ... my entire tax liability was 1.3% of my AGI ... thievin' bastards ... thank you all for paying my fair share of the tax load ... seven come eleven baby, Las Vegas wouldn't be the same without y'all's generosity ...
* = Qualified Dividend and Capital Gains Worksheet, Instructions for IRS Form 1040 (2020), page 35, line 13 ...
Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free*
You're confused.
Section 1231 property ... look it up ...
"the first $441,450 in capital gains is tax free* ... $0"
Bullshit, that is a lie. The only way you can get out of paying CG tax of that magnitude is if you offset it with CG losses of a equal amount, or you had some other write-off.
Here's the reality.............
View attachment 497143
Okay, I stand corrected, apologies to ReinyDays.Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free* ... $0 ... my entire tax liability was 1.3% of my AGI ... thievin' bastards ... thank you all for paying my fair share of the tax load ... seven come eleven baby, Las Vegas wouldn't be the same without y'all's generosity ...
* = Qualified Dividend and Capital Gains Worksheet, Instructions for IRS Form 1040 (2020), page 35, line 13 ...
Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free*
You're confused.
Section 1231 property ... look it up ...
"the first $441,450 in capital gains is tax free* ... $0"
Bullshit, that is a lie. The only way you can get out of paying CG tax of that magnitude is if you offset it with CG losses of a equal amount, or you had some other write-off.
Here's the reality.............
View attachment 497143
Don't apologize, he was wrong.
"the first $441,450 in capital gains is tax free* ... $0"
Wrong. Below $40,000 in taxable income, capital gains is untaxed.
Between $40,001 and $451,450 in taxable income, capital gains is taxed at 15%.
Todd doesn't understand how businesses are taxed ... I did pay a CPA for a hour's time for her to explain to me how this is done under TCJA ... and a call into the IRS helpline confirmed that what I'm doing is completely lawful and normal ... IRS Publication 544 - Sales and Other Dispositions of Assets goes into all the details, sorry about it's length but it requires careful study if we want to take advantage of these tax breaks for the Rich ... and the publication needs careful study every year, as conditions tend to change fairly often ...
There is risk leaving our retirement contributions in our businesses ... if the business goes insolvent, we lose our retirement savings ... but the benefit is retirement income effectively tax-free ... the choice depends on our business skills ...
I don't know if this is true or not, but (very) generally speaking, only about 200 pages of tax code apply to the 99%ers ... the other 20,000 pages only apply to the 1%ers ... and each page is a tax break ... we elect rich people to write tax laws, so what did you expect? ...
Todd doesn't understand how businesses are taxed ...
* = Qualified Dividend and Capital Gains Worksheet, Instructions for IRS Form 1040 (2020), page 35, line 13 ...
DURR.
I did pay a CPA for a hour's time for her to explain to me how this is done under TCJA
Did she tell you that the first $441,450 in capital gains is NOT tax free?
You haven't read the citation from the IRS I posted, have you? ... no, the CPA put her license on the line and said the first $441,450 of my capital gains wasn't taxed ... like you, I thought it was taxable and had already sent in a check (you do know income tax is due when the income is realized, right?) ... that's the first thing she said, "You'll be getting a BIG refund when you file" ... and I did, every penny of the capital gains tax I thought I owed ...
There was a small math error on that return, and the IRS sent me a bill for an additional $26 because of that math error ... but the IRS was fine with my 4797 reporting, and the $0 taxes I filed based on the 4797 ... do you think the IRS is too stupid to notice a sky-high AGI and next to nothing tax liability? ...
Look on your own 1040, line 16 ... it says "Tax (see instructions)" ... that begins on page 31 of the instructions, follow the rat warren of forms and publications until you reach "Net long-term capital gains (or loss)" on schedule D ... or did you file a 1040A? ... in which case I can't help you, it was 1982 last time I filed the short form ... paying taxes is for losers ...
sure they were...it had to get through the houseThe Dems weren’t even asked to participate and there was no attempt to negotiate. Show me where every dem said they’d block any attempt at tax reform at all costs. You can’t. It’s a lie.the dems made clear they were going to block it at all costThey used reconciliation because they didn't want to negotiate with Democrats to gain 60 votes. That's their problem, not mine. They didn't even try.the reconciliation process which they had to use because the dems were blocking it via the filibuster
only allows for a 10 years window in any rise to the deficient
The second sentence is getting to the point but isn't very clear.
Did you realize that they made the corporate tax cuts permanent? They did that by baking in tax increases after 2025 which means that the bill doesn't increase the deficit after 10 years. Of course, they could have sunset the corporate tax cuts, and bake in tax increases for other people to make the middle class tax cut permanent, but they decided not to do that. Corporate tax cuts were more important than average Americans. They sold you out.
they could wirh corp taxes because it didn’t violate the 10 year rule
and as we can see the “permanent” thing is meaningless since the next congress can change the law. As the dems are doing with corp taxes and are refusing to extend the working class cuts
no real surprise and no surprise you continue to deflect and ignore that
If they could make the corporate tax permanent, they could have made the middle class tax permanent.
Dems are not refusing to extend the middle class tax cut. That’s another lie.
incorrect about corp and income as i highlighted
regardless it’s not relevant as the next congress can change any law
the point remains the dems opposed the tax cuts for the working class and are going to raise them
colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
You didn’t highlight anything. You just made an unsupported assertion.incorrect about corp and income as i highlighted
The only reason the corporate income tax rate cut could be made permanent was because they built in a tax hike on income tax that took effect after 8 years. They could have made the income tax rate cuts permanent by building in a tax hike on corporations after 8 years.
You’re not being truthful about what Republicans did.
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