Biden Admits He Will Raise Taxes

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

 

[Flash]

These Useful Idiots believed the sonofabtch when he said he wouldn't raise taxes on anybody making less than $450K just like the dumbshits believed the worthless Negro when he said he wouldn't raise taxes on anybody making less than 250K a year. Dumbshits.

The sad thing is that he won't use any of the the money to retire the enormous debt. He will just spend it on worthless crap like welfare for the millions of illegals he is going to let flooding along with the Muslim refugees. Maybe he will throw out a couple of freebies to the Useful Idots like pay of their worthless college degrees,

A lot of it will be going to foreign governments, especially China.

Only idiots voted for this China Joe piece of shit.

Those programs are just money laundering schemes to line the pockets of politicians. Don’t think for a second that they don’t come up with ways to help as few people as possible.

Tax more spend more waste more get the politicians rich more.

Just look at all the money The Big Guy made off China, Russia and The Ukraine. Then there is the Clinton crime syndicate.

I wonder how much John Kerry made on that sweet little cash deal to the Mullahs? Did some of that kickback go to the dumbass Negro so he could buy that nice mansion on Martha's Vineyard?

Gonna be a lot more rich Democrats as soon as they get their hands on the Treasury.

 

[DBA]

Biden voters don't have jobs ...

Citation? ...

The fact remains it's the poor Red State that voted for The Donald ... rich Blue States carried Quid Pro Joe ... Bubba who didn't finish Middle School won't understand that ...

What you leftists don’t quite understand is that the “poor” red states are poor because of the Democrats in their states. There aren’t enough of them yet to turn them blue, but the demographics don’t lie in red states. Higher income folks vote for Republicans while the lowest vote for Democrats. Move the Democrats out of our red states and we would be extremely “rich” and profitable.

 

[Beef_Supreme]

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: “By the way, how many of you did really well with that $1.9 trillion tax cut…” [Voter raises a hand to say […]

www.atr.org

Now, with a Democratic Senate, there is nothing to stop the Democrats. You Biden lovers might need a second job.
You can also make your kids get a job. Perhaps you should see a stockbroker and ask about tax shelters. You have been warned but you did not listen.

Source: "atr.com", whatever that is.

Wait... you think it’s “fake news”?
So you actually don’t believe Biden will raise taxes?
Too funny.

 

[hadit]

80% of taxes raised on the too 1%. The rest from the top 7%.

That's where it starts, but it never stops there, because you just don't get much additional revenue. To get a lot more money, you have to hit the middle class, and hit them he will.

 

[DBA]

But on a larger and far more important scale, I've said many times here that Trump is not really the problem. One person never is. The problem is the people who enable him. Cruz and Pence and all of them. His followers. That's the damn problem

I guess the only bright side of this debacle of the crazy left running our country is that maybe it will wake some folks up. In the near future, you and others who voted for these complete morons will be spending all your time and effort trying to cook up some new excuses as to why our country is in such a mess. I am sure that initially the pea brains will blame it all on Trump, but my hope is that, at least for some of you, those lose screws you have rattling around in your heads will tighten up a bit. Unfortenely, even with an awakening, it may be too late to save our country from the radical leftists.

 

[DBA]

80% of taxes raised on the too 1%. The rest from the top 7%.

That's where it starts, but it never stops there, because you just don't get much additional revenue. To get a lot more money, you have to hit the middle class, and hit them he will.

Even if we buy that income taxes will only be raised on the “rich”, what about all the other taxes? Capital gains taxes affects anyone selling anything for profit with only a few exceptions. What about removing the step up in basis one gets when inheriting property? That is on the table, they have already mentioned doing that. That affects anyone inheriting any property, regardless of the value of the estate. What about raising the estate tax and lowering the taxable threshold. That is also on the table. There are many, many ways that people who are not “rich” will be paying more taxes and more for goods(gas taxes, food costs, etc.) under the Harris/Biden and Democratic/radical left congress.

 

[kyzr]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

 

[Jimmy_Chitwood]

The US economy was doing fine under the Obama tax rate,

Not really.

Yes it was, as a matter of fact, Obama gave Trump a sound economy and grow job market and that whore in less than 4 fuckin years ruined everything, I hope he's hung by the balls in NY city

Would you let Biden do you?

 

[Papageorgio]

CUT SPENDING FIRST, THEN CUT TAXES.

Nobody does this though! No matter who we elect it's not a real priority. When have you ever seen either side get together and really brainstorm on how to do this? They don't give a flying fuck.

Thank you, that is why we are in the trouble we are in today. Politicians get their jobs by popular vote, they have no incentive to cut spending or raise taxes as both are not popular with voters.

I’m not sure why anyone pretends to be worried about the debt or taxes or spending. Biden and Congress are going to increase debt, no doubt about. They are no different than any others, the last to reduce the debt was Coolidge, since then we have spent decades spending more than taking in. We vote them in knowing it is going to happen.

Our political system works best when there is a Democratic President and a Republican Congress.

To think that either side will do the right thing and cut spending and raise taxes is a pipe dream and isn’t going to happen.

 

[Mac1958]

But on a larger and far more important scale, I've said many times here that Trump is not really the problem. One person never is. The problem is the people who enable him. Cruz and Pence and all of them. His followers. That's the damn problem

I guess the only bright side of this debacle of the crazy left running our country is that maybe it will wake some folks up. In the near future, you and others who voted for these complete morons will be spending all your time and effort trying to cook up some new excuses as to why our country is in such a mess. I am sure that initially the pea brains will blame it all on Trump, but my hope is that, at least for some of you, those lose screws you have rattling around in your heads will tighten up a bit. Unfortenely, even with an awakening, it may be too late to save our country from the radical leftists.

Another Trumpster with a crystal ball.

 

[billyerock123]

These Useful Idiots believed the sonofabtch when he said he wouldn't raise taxes on anybody making less than $450K just like the dumbshits believed the worthless Negro when he said he wouldn't raise taxes on anybody making less than 250K a year. Dumbshits.

The sad thing is that he won't use any of the the money to retire the enormous debt. He will just spend it on worthless crap like welfare for the millions of illegals he is going to let flooding along with the Muslim refugees. Maybe he will throw out a couple of freebies to the Useful Idots like pay of their worthless college degrees,

A lot of it will be going to foreign governments, especially China.

Only idiots voted for this China Joe piece of shit.

there are so many thing wrong with your post... first one that got me laughing was welfare for illegals sorry to inform you
1)to get welfare you have to be a citizen ... and you have to prove to the welfare office you are a citizen ... so much for your welfare BS...
2) republicans have screw up the loans for students so bad where their interest rate is outrageous ...
3) its obvious you are a racist ... we can clearly see that ... if you knew how to do research you would know Obama never raised taxes on people under 250K ;;;

 

[Papageorgio]

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: “By the way, how many of you did really well with that $1.9 trillion tax cut…” [Voter raises a hand to say […]

www.atr.org

Now, with a Democratic Senate, there is nothing to stop the Democrats. You Biden lovers might need a second job.
You can also make your kids get a job. Perhaps you should see a stockbroker and ask about tax shelters. You have been warned but you did not listen.

Again, Biden said that he would raise taxes on those making $400,000 or more.
The tax holiday for the super-wealthy will be reversed, as it should be.

And when he leaves office our debt will have grown a few trillion because spending will out pace the tax increase on those making $400000. We need to cut spending not just raise taxes. To do one and not the other is no help.

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

and yet there is no inflation to speak of

 

[pknopp]

These Useful Idiots believed the sonofabtch when he said he wouldn't raise taxes on anybody making less than $450K just like the dumbshits believed the worthless Negro when he said he wouldn't raise taxes on anybody making less than 250K a year. Dumbshits.

The sad thing is that he won't use any of the the money to retire the enormous debt. He will just spend it on worthless crap like welfare for the millions of illegals he is going to let flooding along with the Muslim refugees. Maybe he will throw out a couple of freebies to the Useful Idots like pay of their worthless college degrees,

A lot of it will be going to foreign governments, especially China.

Only idiots voted for this China Joe piece of shit.

there are so many thing wrong with your post... first one that got me laughing was welfare for illegals sorry to inform you
1)to get welfare you have to be a citizen ... and you have to prove to the welfare office you are a citizen ... so much for your welfare BS...

They know this but for whatever reason it's never stops them.

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

and yet there is no inflation to speak of

Ask the person doing the grocery shopping what they feel about inflation. I saw yesterday that new car prices will be the highest ever.

Cost of renting continues to steadily rise - HousingWire

There is a ton of inflation. Do you in general accept the governments numbers?

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

and yet there is no inflation to speak of

Ask the person doing the grocery shopping what they feel about inflation. I saw yesterday that new car prices will be the highest ever.

Cost of renting continues to steadily rise - HousingWire

There is a ton of inflation. Do you in general accept the governments numbers?

inflation has bee low single digits for a long time now.

and what makes you think rent increases are due to inflation instead of other forces like demand for rentals or gentrification ?

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

and yet there is no inflation to speak of

Ask the person doing the grocery shopping what they feel about inflation. I saw yesterday that new car prices will be the highest ever.

Cost of renting continues to steadily rise - HousingWire

There is a ton of inflation. Do you in general accept the governments numbers?

inflation has bee low single digits for a long time now.

and what makes you think rent increases are due to inflation instead of other forces like demand for rentals or gentrification ?

It doesn't matter, it's inflation. Everything the working class deals with is going up but the government continues to argue there is no inflation.

And you didn't answer my question.

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

so tell me where is the government going to get 28 trillion dollars?

It ain't just the so called rich.

If I had all the answers it would take thousands of pages and I would be in office.

We are going to have to raise taxes.

we really don't have to.

we really need to cut spending.

and like I said the debt isn't as big of a deal as you think

The rest of the world is not going to allow us to continue to create paper wealth while they struggle. It's not going to happen. It is going to end. It's already started.

we don't have to print more money.

No but we will.

maybe maybe not.

inflation has been kept low for a long time I don't think we will be messing with that anytime soon

We have never stopped.

and yet there is no inflation to speak of

Ask the person doing the grocery shopping what they feel about inflation. I saw yesterday that new car prices will be the highest ever.

Cost of renting continues to steadily rise - HousingWire

There is a ton of inflation. Do you in general accept the governments numbers?

inflation has bee low single digits for a long time now.

and what makes you think rent increases are due to inflation instead of other forces like demand for rentals or gentrification ?

It doesn't matter, it's inflation.

a rise in prices caused by demand is not inflation.