Harris said that Biden will end the Trump tax cuts, then she said that Biden will not raise taxes. So is Harris stupid or delusional, or both

[DBA]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

Clearly she is saying that not all of the tax cuts will be repealed.

So when she says we will repeal the Trump tax cuts, she doesn't really mean they will repeal the Trump tax cuts. Gotcha.

Raising the corporate income tax will also result in job losses.

Economic insanity coupled with complete ignorance is a deadly(for the country) combination.

 

[colfax_m]

He has promised to repeal the cuts. What do you NOT understand about this? Middle class families benefit from the Trump tax cuts. They will not anymore under Biden.

Biden’s Tax Plan: What’s Enacted, What’s Proposed

Here’s how the Biden administration’s recently enacted tax law changes—and new corporate and individual tax proposals—do (or could) affect taxpayers.

www.investopedia.com

Biden's actual tax plan preserves the benefits to the middle class.

 

[candycorn]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

You're either woefully mis-informed or lying. Or both. If you make less than $400,000, you're not getting a tax increase.

Harris and Biden both promised to end the Trump tax cuts which do not only apply to people making over 400 g per year. So You're either woefully mis-informed or lying. Or both.

Yawn

There are no permanent tax cuts for those making less than 400K.

Harris and Biden both promised to end the Trump tax cuts which do not only apply to people making over 400 g per year. So You're either woefully mis-informed or lying. Or both.

If the Trump tax cuts are removed then higher taxes are permanent, this is the Biden plan

Yawn

Again, there are no permanent tax cuts for those making less than 400K.

He has promised to repeal the cuts. What do you NOT understand about this? Middle class families benefit from the Trump tax cuts. They will not anymore under Biden.

No. There were no permanent tax cuts for the middle class. As a middle class wage earner...I know this to be a fact.

 

[candycorn]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

Clearly she is saying that not all of the tax cuts will be repealed.

So when she says we will repeal the Trump tax cuts, she doesn't really mean they will repeal the Trump tax cuts. Gotcha.

Raising the corporate income tax will also result in job losses.

Economic insanity coupled with complete ignorance is a deadly(for the country) combination.

According to History, that is not true.

Job gains were happening under Obama every month....before these billionaire tax breaks went into effect under the Blob.

 

[GHook20]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

She is an extremely dishonest person. One of the worst I ever seen, but the mainstream media won’t call her out. Interesting both CNN and MSNBC only “fact-checked” Pence and nothing for Harris.

 

[Ben Thomson]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

Will not raise taxes on the middle class, just those making over $400,000 a year...try and keep up

 

[DBA]

He has promised to repeal the cuts. What do you NOT understand about this? Middle class families benefit from the Trump tax cuts. They will not anymore under Biden.

Biden’s Tax Plan: What’s Enacted, What’s Proposed

Here’s how the Biden administration’s recently enacted tax law changes—and new corporate and individual tax proposals—do (or could) affect taxpayers.

www.investopedia.com

Biden's actual tax plan preserves the benefits to the middle class.

Yes, I have vomit about two paragraphs in....

First paragraph is complete BS.

The Biden tax plan would repeal the major tax reductions passed in 2017; it would increase the top individual federal income tax rate from 37% to the pre-Trump rate of 39.6% and the corporate rate from 21% to 28%. The tax benefit afforded itemized deductions would be capped at the 28% tax rate. Tax rates would be graduated so that taxpayers with incomes below $400,000 would not see rate increases.

The first sentence says it all...no other explanation necessary.


What does this mean? You can't use itemized deductions to bring your effective tax rate under 28%? Cheez, that is a tax hike for many Americans making far less that 400k per year.

They are going to tax capital gains at the same rate as income for those making more than 1 million/yr? Yeah, that won't hurt investment at all. Capital gains taxes are already a disincentive for investing. Really, they should be eliminated, not raised.

The plan also indicates that a Biden administration would promote tax provisions to penalize exporting jobs overseas and to incentivize investments in infrastructure and green energy, transportation and manufacturing. Businesses would be offered a variety of new tax credits, ranging from benefits to deal with workforce layoffs to small business incentives to provide retirement savings plans.

This is just pie in the sky fantasy world stuff. We will be far, far less competitive on the world stage. Maybe that is their plan because it is almost inconceivable that anyone could think this would actual work.

Depending on the design of the new provision, the impact on high-income taxpayers could be substantial. For example, if the proposed revision of the 401(k) contribution benefit entitled a taxpayer with a marginal tax rate of 35% to a 20% tax credit instead of the present law’s tax deduction, the tax savings for the current, maximum annual contribution of $19,500 would decline from $6852 to $3900.

This is beyond ridiculous. For starters, what is "high-income"? They use the 35% example, but they don't say it will be limited by income level but rather by contribution amount. There are plenty of people that max out their 401(k) contribution every year but do not make 400+k. Using their example, this would cost them about $3000 in additional taxes per year. Guess what, they won't invest or not nearly as much. I know I won't. I will take my money elsewhere. Another idiotic idea.

The second change would repeal the present law “step-up in basis” rule that increases the tax basis for inherited assets to their full fair market value upon death.

What a crock. This will hurt everyone. God forbid people can't keep their families wealth. I mean, there are plenty of irresponsible folks out there that should get that redistribution. If your granny left you a house that she purchased for 35k many moons ago and you inherit it with it and it now has a value of 85k, you will have to pay tax on the 50k "gain" instead of getting the step up basis. I guess they forgot he part where granny paid property taxes for many, many years on this house. They need more money to distribute. Envy at its finest.

This great country was not built on the idea of wealth distribution. We became the greatest economic power on earth with just the opposite approach. Democrats are nothing more than lazy, envious, immoral, ignorant, unpatriotic heathens who are either trying to destroy on purpose or are too stupid to know that this is their policies lead.

 

[TheHardTruth]

We will have an over $3 trillion deficit this year. Time for some responsibility. Tax increases are needed.

"Tax increases are needed."

NO......Spending cuts are needed! Cutting wasteful Democrat Big Government Pork Barrel Bail Out Spending will have the same affect as raising taxes without taking a penny out of any individual's or business's pocket.

 

[DBA]

He has promised to repeal the cuts. What do you NOT understand about this? Middle class families benefit from the Trump tax cuts. They will not anymore under Biden.

Biden’s Tax Plan: What’s Enacted, What’s Proposed

Here’s how the Biden administration’s recently enacted tax law changes—and new corporate and individual tax proposals—do (or could) affect taxpayers.

www.investopedia.com

Biden's actual tax plan preserves the benefits to the middle class.

Wanna bet? For example, the middle class contribute to their 401(k)s too, thus limiting the amount they can contribute pre-tax is a tax hike. Get it?

Middle-class folks inherit property too. Not getting a step up basis will force them to pay taxes on their gains from their inheritance, no matter the size. Get it?

 

[DBA]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

Will not raise taxes on the middle class, just those making over $400,000 a year...try and keep up

You aren't reading the details, but I guess we shouldn't expect that from Biden supporters.

 

[22lcidw]

He has promised to repeal the cuts. What do you NOT understand about this? Middle class families benefit from the Trump tax cuts. They will not anymore under Biden.

Biden’s Tax Plan: What’s Enacted, What’s Proposed

Here’s how the Biden administration’s recently enacted tax law changes—and new corporate and individual tax proposals—do (or could) affect taxpayers.

www.investopedia.com

Biden's actual tax plan preserves the benefits to the middle class.

After Obama...the trust is reduced.

 

[WarmPotato]

Harris is a total and complete joke. The MSM is working overtime to try and spin this to make her look good

 

[Nostra]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

She said taxes will go up on the poor and middle class.

 

[rightwinger]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

She said taxes will go up on the poor and middle class.

She said nothing of the kind

That was Lying Mike Pence trying to fear monger again. What part of those making ABOVE $400,000 went over your head?

 

[Thinker101]

Their plan is the same as Hillary's plan from 2016.

 

[Nostra]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

She said taxes will go up on the poor and middle class.

She said nothing of the kind

That was Lying Mike Pence trying to fear monger again. What part of those making ABOVE $400,000 went over your head?

Oh, so you are ignorant of what is in the Trump tax cuts. Why am I not shocked.

 

[Thinker101]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

She said taxes will go up on the poor and middle class.

She said nothing of the kind

That was Lying Mike Pence trying to fear monger again. What part of those making ABOVE $400,000 went over your head?

Dang, which part of REPEAL TAX CUTS is over your head.

 

[DustyInfinity]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

I guess this goes over your empty head too

It is quite simple.
Guess it went over your empty head

ddddddddddeeeeeeeeeeeerrrrrrrrrrrrrppppppppppppppp

THE MEGA DERP!!!! First time I have ever seen it deployed. Awe inspiring.

 

[DBA]

If you make more than $400,000 a year, you will pay more
Business rates will go to 28%

She said taxes will go up on the poor and middle class.

She said nothing of the kind

That was Lying Mike Pence trying to fear monger again. What part of those making ABOVE $400,000 went over your head?

Are you purposely overlooking the details or is it just too much for you to comprehend? More taxes will be paid by everyone. Imagine a politician telling you that they won't raise your property taxes but they raise the millage rate, which is the multiplier used to determine your property tax. They didn't actually raise your tax rate, but you paid more in taxes. Don't be a dupe.

Read my post above for the Cliff Notes.

 

[esalla]

Because every American will pay more when the tax cuts are erased, and this is true even before Biden raises taxes more.

So are democrats really so dumb as to not understand this?

LOL I already know

Will not raise taxes on the middle class, just those making over $400,000 a year...try and keep up

So Biden will keep the Trump tax cuts.

Yawn you are delusional, but I bet you are having fun in the hospital anyways