Biden Tax Increases Proposed and the Business Exodus Begins

[Penelope]

They will leave now if they can.

Ford has been leaving for Mexico for decades.

 

[Penelope]

Trump would have got Ford to stay. Biden just thinks of Ford as a corporation that doesn't pay their fair share of taxes. Even if Biden still had all his marbles he'd still be cursed with shallow minded liberal ideas.

It's a bit peculiar that President Trump would push Ford out of Mexico and into China, especially after campaigning on a promise of preventing factory jobs from leaving the United States — though admittedly, Trump is not known for consistency.

After Trump pressured Ford out of moving factory to Mexico, company decides to build the new Focus in China | Salon.com

 

[Hang on Sloopy]

Fuk em

If they insist on ducking taxes let em leave

When you use every legal tax remedy afforded to you, how is that DUCKING taxes????..Watch this folks

Taking personal deductions on your 1040 is ducking taxes too.

He's to dumb to know everyone and every Corp or company uses every legal loophole they can to not pay taxes. They all act under the law and it works.

If he doesn't like it he should write his Rep and Senator and complain and get the law changed.

Lol. That is like taking no legal deductions on your personal taxes and paying the max like a dumb fuck.

Believe it or not, a lot of people think they'll pay more if they itemize.....lol.Good for them, keep being stupid.

 

[Hang on Sloopy]

Ford had originally planned to open a new $1.6 billion plant in Mexico, but, facing pressure from President Donald Trump, they canceled those plans and chose China instead. According to the Times, Ford will also be investing "$900 million in a Kentucky plant to produce new versions of its Ford Expedition and Lincoln Navigator sport-utility vehicles," which the company said will save 1,000 jobs at the plant.

It's a bit peculiar that President Trump would push Ford out of Mexico and into China, especially after campaigning on a promise of preventing factory jobs from leaving the United States — though admittedly, Trump is not known for consistency.

After Trump pressured Ford out of moving factory to Mexico, company decides to build the new Focus in China | Salon.com

Autos manufactured in Mexico come to the US, autos manufactured in China are sold in China, the largest auto market in the world.

However, only around three percent of passenger cars produced in China were exported. In 2018, China generated approximately 15.7 billion U.S dollars from its car exports, accounting for 0.6 percent of the total export value that year.

Topic: Automotive industry in China: imports and exports

Discover all statistics and data on Automotive industry in China: imports and exports now on statista.com!

www.statista.com

.

Little known that the Chinese can make gas out of rice.

 

[Mr Natural]

Let's cut corporates taxes to zero. And while we're at it, let's eliminate taxes on billionaires or they'll leave also.

Only working people should pay taxes, after all, they're the one using all the services.

 

[Hang on Sloopy]

Fuk em

If they insist on ducking taxes let em leave

Yeah....just great...let's tax everyone so much they want to leave...that's nothing to be concerned about at all.....

Wait until investors start pouring their money overseas.

Watch all the limousine libutrds like Pukelosi do it on cue.

 

[DBA]

Remember, Biden said his tax hikes would only affect those making over 400k. How about these proposals?

5. Elimination of basis step-up for inherited assets
Under current law, the federal income tax basis of an inherited capital-gain asset is stepped up fair market value as of the decedent’s date of death. So, if heirs sell inherited capital-gain assets, they only owe federal capital gains tax on the post-death appreciation, if any. This provision can be a huge tax-saver for greatly-appreciated inherited assets — such as personal residences that were acquired many years ago for next to nothing and are now worth millions. The Biden plan would eliminate this tax-saving provision.

This means if granny bequeaths her grandchild the house that she paid 20k for back in the 40’s and it is now worth 250k, the grandchild now gets to pay capital gains taxes, which are also increasing, on the full 250k instead of the 20k(step up basis). This affects almost everyone in the country, regardless of income. Democats are pretty stupid, but that tax bill on the sale of granny’s house will come as a real surprise. I guess they will be told to blame it on Trump.


6. Elimination of real-estate tax breaks
The Biden tax plan would: (1) eliminate the $25,000 exemption from the passive loss rules for rental real estate losses incurred by middle-income individuals, (2) eliminate Section 1031 like-kind exchanges that allow deferral of capital gains taxes on swaps of appreciated real property, (3) eliminate rules that allow faster depreciation write-offs for certain real property, and (4) eliminate qualified business income (QBI) deductions for profitable rental real estate activities.

Again, can affect nearly everyone.

7. Increased child- and dependent-care credits
Under current law, parents can collect a credit of up to $2,000 for each under-age-13 qualifying child. This is a refundable credit, which means you don’t have to have any federal income tax liability to collect the credit. In other words, the child credit is “free money.”

Under current law, another credit of up to $2,100 is allowed to cover expenses to care for a qualifying dependent, including an eligible child, or up to $4,200 for expenses to care for two or more qualifying dependents. In most cases, however, an income limitation reduces the maximum allowable credit to $1,200 or $2,400 for two or more qualifying dependents.

The Biden tax plan would increase the maximum refundable child credit to $4,000 for one qualifying child or $8,000 for two or more qualifying children. Families making between $125,000 and $400,000 would receive reduced credits. Apparently, the same rules would apply to an enhanced credit for expenses to care for qualifying dependents.

Biden would also establish a new credit of up to $5,000 for informal caregivers.

Notice how this will phase out for families making between 125k and 400k. That means families starting at 125k will be paying MORE taxes due to less deductions.

Democratic voters fall for the dumbest things.

10 Biden tax plans that will sail through a Democratic-controlled Senate — and how to prepare for them

 

[Hang on Sloopy]

Let's cut corporates taxes to zero. And while we're at it, let's eliminate taxes on billionaires or they'll leave also.

Only working people should pay taxes, after all, they're the one using all the services.

20% pay 80% of the taxes.

Without the 20% in capitalism,we'd be Venezuela.

You need to get on your knees and suck the toes of the 20% for affording you a life without terror., and stuffing your face with an abundance of food and resources.

 

[Hang on Sloopy]

Fuk em

If they insist on ducking taxes let em leave

When you use every legal tax remedy afforded to you, how is that DUCKING taxes????..Watch this folks

Taking personal deductions on your 1040 is ducking taxes too.

He's to dumb to know everyone and every Corp or company uses every legal loophole they can to not pay taxes. They all act under the law and it works.

If he doesn't like it he should write his Rep and Senator and complain and get the law changed.

His Rep and Senator are too busy figuring out their own tax loops to change anything.

 

[Mr Natural]

Let's cut corporates taxes to zero. And while we're at it, let's eliminate taxes on billionaires or they'll leave also.

Only working people should pay taxes, after all, they're the one using all the services.

20% pay 80% of the taxes.

Without the 20% in capitalism,we'd be Venezuela.

You need to get on your knees and suck the toes of the 20% for affording you a life without terror., and stuffing your face with an abundance of food and resources.

Like I said, let's eliminate taxes on corporation and the wealthy altogether.

Think of how wonderful life would be then.

 

[Hang on Sloopy]

Let's cut corporates taxes to zero. And while we're at it, let's eliminate taxes on billionaires or they'll leave also.

Only working people should pay taxes, after all, they're the one using all the services.

20% pay 80% of the taxes.

Without the 20% in capitalism,we'd be Venezuela.

You need to get on your knees and suck the toes of the 20% for affording you a life without terror., and stuffing your face with an abundance of food and resources.

Like I said, let's eliminate taxes on corporation and the wealthy altogether.

Think of how wonderful life would be then.

Lol. Same problem I have. Being dry and sarcastic can be tricky in type form...lol

 

[Hang on Sloopy]

Doubt Ford will be the only one leaving. Once the stuttering fuck and his administration realize they won't get the money they hoped to get. They will raise everyone's taxes.

Anyone who voted for that fool is an idiot.

LOL Penelope is having a negging fit now..................lol

Hey P. Take your meds, and remind Jillian the same when you see her.

 

[WTF19]

Fuk em

If they insist on ducking taxes let em leave

a typical anti-AMERICa comment, from a retarded demonRAT
its more like, fuck you, for being against jobs and AMERICA
let me guess, if you had a business, in AMERICA, and paid 500 a year, and then find out taxes are raising 25%, i bet your sorry ass would move or close.
nobody ducked taxes. your idol is raising them to where they cant afford to stay in business, so your thought is full of communism just like your idols.
you both are retarded idiots

 

[Claudette]

Fuk em

If they insist on ducking taxes let em leave

a typical anti-AMERICa comment, from a retarded demonRAT
its more like, fuck you, for being against jobs and AMERICA
let me guess, if you had a business, in AMERICA, and paid 500 a year, and then find out taxes are raising 25%, i bet your sorry ass would move or close.
nobody ducked taxes. your idol is raising them to where they cant afford to stay in business, so your thought is full of communism just like your idols.
you both are retarded idiots

LOL You can bet your ass that if he owned a company he's use every legal loophole he could to hang on to his money. I know you or I sure would.

 

[AMart]

Let's cut corporates taxes to zero. And while we're at it, let's eliminate taxes on billionaires or they'll leave also.

Only working people should pay taxes, after all, they're the one using all the services.

20% pay 80% of the taxes.

Without the 20% in capitalism,we'd be Venezuela.

You need to get on your knees and suck the toes of the 20% for affording you a life without terror., and stuffing your face with an abundance of food and resources.

Like I said, let's eliminate taxes on corporation and the wealthy altogether.

Think of how wonderful life would be then.

You pay the taxes on corporations...those taxes get passed through to you as a consumer.

 

[AMart]

Team Biden is illegal immigrant first, Mexico first, Americans last.

 

[debbiedowner]

It looks as if Ford has read the tax writing on the wall.

Ford Jobs Moving From Avon Lake To Mexico, Union Leader Says (msn.com)

Not exactly the same article I read that said it was planned back in November. I saw nothing in either article that mentioned tax increases.

 

[AzogtheDefiler]

We need to tax any income made from items Ford makes in Mexico at 80%.

Yes but that won't happen under Biden. Trump would have done that.

 

[debbiedowner]

Trump would have got Ford to stay. Biden just thinks of Ford as a corporation that doesn't pay their fair share of taxes. Even if Biden still had all his marbles he'd still be cursed with shallow minded liberal ideas.

They are staying, you clowns just cannot comprehend.

 

[Whodatsaywhodat.]

We need to tax any income made from items Ford makes in Mexico at 80%.

Or just use Trump policies.