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

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Clearly she is saying that not all of the tax cuts will be repealed.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

Yeah, miniscule job gains! Barack Obama and Joe Biden oversaw the worst recovery from a recession since The Great Depression! Why would anyone in their right mind want THAT guy to run the economy again? Have you listened to his so called "plan"? It's a recipe for the same stagnant economic recovery.

The statistics show that Obama created more jobs (if you're going to say the President creates jobs) than the blob did in the last few years of his presidency vs the first few years of the Blob's presidency.

Would you care to explain which Obama economic policy it was that created jobs, Candy? Jobs were created during the Obama Administration DESPITE his economic policies...not because of them! One of the main drivers of job creation was advances in fracking which led to a huge boom in the oil and natural gas industry but fracking was something that Barry was against! Oil and natural gas production went DOWN on Federal lands that the Obama Administration controlled!

Again...if you're under the impression that the President creates jobs...something you guys said didn't happen until Trump came around...Obama's package of stimulus, favorable markets, etc... helped.

Was it the cause? Who knows? One would think though that if corporations were struggling under Obama, the DJIA wouldn't have climbed 149% as it did. Something the blob can't match in his wildest dreams.

Don't think I didn't notice you ran away from my query as to what Obama economic policy it was that created jobs, Candy! That question is like Kryptonite to you liberals!

From the previous post:

"Obama's package of stimulus, favorable markets, etc... helped."

The stimulus? Do you remember all of the "shovel ready" jobs that Barry created with that? Oh...that's right...they never materialized! Would you like me to pull up the video of him sheepishly admitting that was the case?

Well, the money went somewhere...do you think it just disappeared? PS: Trump's $6.6T in red ink hasn't done shit either.... So this fantasy that the president creates jobs is just that.

 

[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

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.

Yeah, miniscule job gains! Barack Obama and Joe Biden oversaw the worst recovery from a recession since The Great Depression! Why would anyone in their right mind want THAT guy to run the economy again? Have you listened to his so called "plan"? It's a recipe for the same stagnant economic recovery.

The statistics show that Obama created more jobs (if you're going to say the President creates jobs) than the blob did in the last few years of his presidency vs the first few years of the Blob's presidency.

Would you care to explain which Obama economic policy it was that created jobs, Candy? Jobs were created during the Obama Administration DESPITE his economic policies...not because of them! One of the main drivers of job creation was advances in fracking which led to a huge boom in the oil and natural gas industry but fracking was something that Barry was against! Oil and natural gas production went DOWN on Federal lands that the Obama Administration controlled!

Again...if you're under the impression that the President creates jobs...something you guys said didn't happen until Trump came around...Obama's package of stimulus, favorable markets, etc... helped.

Was it the cause? Who knows? One would think though that if corporations were struggling under Obama, the DJIA wouldn't have climbed 149% as it did. Something the blob can't match in his wildest dreams.

Don't think I didn't notice you ran away from my query as to what Obama economic policy it was that created jobs, Candy! That question is like Kryptonite to you liberals!

From the previous post:

"Obama's package of stimulus, favorable markets, etc... helped."

The stimulus? Do you remember all of the "shovel ready" jobs that Barry created with that? Oh...that's right...they never materialized! Would you like me to pull up the video of him sheepishly admitting that was the case?

Well, the money went somewhere...do you think it just disappeared? PS: Trump's $6.6T in red ink hasn't done shit either.... So this fantasy that the president creates jobs is just that.

The lowest minority unemployment ever happened under Trump

 

[colfax_m]

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

That's obviously a silly statement, more explanation is DEFINITELY 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.

No, it means if you itemize, the deductions won't affect be taken at the marginal rate above 28%. The benefits of itemization don't apply equally. They get greater and greater as your marginal tax rate increases. This makes any deduction a lopsided benefit. There are other was of handling this too, and I actually prefer creating a tax credit of a percent of the amount which would apply equally to all earners.

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.

Why? You think millionaires have better things to do with their money other than investing?

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.

Ah, so now you're against exporting jobs when a Democrat has a plan for it?

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 401k provision isn't set in stone yet, so this is speculation. What this is doing is limiting the deduction you get from contributing. The example above would only affect people with a marginal tax rate >20%, but the tax credit rate hasn't been set in stone. Again, this is to even out the benefit of deductions like 401k. If a person has a marginal tax rate of 10%, let's say, there's a lot less incentive to contribute to a 401k than a person with a marginal tax rate of 35%.

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.

If granny sold her house, she'd pay the tax on the 50k gain. Why should it be any different if someone sells it after she dies instead?

 

[AzogtheDefiler]

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

Stupid

 

[abu afak]

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

How dare you use FActs and direct quotes. You are supposed to use Talking Heads for information.

DUH
Getting rid of the Trump tax cuts does NOT mean he won't keep those under 400K the same or less under his plan.

Do you AHOLES have no brains?

`

 

[rightwinger]

DUH
Getting rid of the Trump tax cuts does NOT mean he won't keep those under 400K the same or less under his plan.

Do you AHOLES have no brains?

Read this thread
They obviously don’t

 

[DustyInfinity]

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

How dare you use FActs and direct quotes. You are supposed to use Talking Heads for information.

DUH
Getting rid of the Trump tax cuts does NOT mean he won't keep those under 400K the same or less under his plan.

Do you AHOLES have no brains?

`

Pence asked her to clarify. She stood their like she got hit by a bus. I've never know democrats to keep any kind of tax cut.

 

[Dick Foster]

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

Both and then some. Dat ho lies a lot.

 

[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

Both and then some. Dat ho lies a lot.

Calling Harris a ho is offensive to all ho's

 

[Orangecat]

A Dope like you should realize you can raise some rates and leave others untouched

A dope like you doesn't understand what "repealing the Trump tax cuts" actually entails.

 

[DustyInfinity]

Do democrats even believe the middle class should exist? The core belief seems to be that everyone is helpless and should join a collective that some mythical rich person will pay for. It seems pretty clear that the middle class is a speed bump in the way of that vision.

 

[rightwinger]

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.

Yeah, miniscule job gains! Barack Obama and Joe Biden oversaw the worst recovery from a recession since The Great Depression! Why would anyone in their right mind want THAT guy to run the economy again? Have you listened to his so called "plan"? It's a recipe for the same stagnant economic recovery.

The statistics show that Obama created more jobs (if you're going to say the President creates jobs) than the blob did in the last few years of his presidency vs the first few years of the Blob's presidency.

Would you care to explain which Obama economic policy it was that created jobs, Candy? Jobs were created during the Obama Administration DESPITE his economic policies...not because of them! One of the main drivers of job creation was advances in fracking which led to a huge boom in the oil and natural gas industry but fracking was something that Barry was against! Oil and natural gas production went DOWN on Federal lands that the Obama Administration controlled!

Again...if you're under the impression that the President creates jobs...something you guys said didn't happen until Trump came around...Obama's package of stimulus, favorable markets, etc... helped.

Was it the cause? Who knows? One would think though that if corporations were struggling under Obama, the DJIA wouldn't have climbed 149% as it did. Something the blob can't match in his wildest dreams.

Don't think I didn't notice you ran away from my query as to what Obama economic policy it was that created jobs, Candy! That question is like Kryptonite to you liberals!

From the previous post:

"Obama's package of stimulus, favorable markets, etc... helped."

The stimulus? Do you remember all of the "shovel ready" jobs that Barry created with that? Oh...that's right...they never materialized! Would you like me to pull up the video of him sheepishly admitting that was the case?

Well, the money went somewhere...do you think it just disappeared? PS: Trump's $6.6T in red ink hasn't done shit either.... So this fantasy that the president creates jobs is just that.

The lowest minority unemployment ever happened under Trump

Minority unemployment is now higher than it was under Obama

 

[esalla]

A Dope like you should realize you can raise some rates and leave others untouched

A dope like you doesn't understand what "repealing the Trump tax cuts" actually entails.

Dopes will be offended by being compared to him

 

[rightwinger]

A Dope like you should realize you can raise some rates and leave others untouched

A dope like you doesn't understand what "repealing the Trump tax cuts" actually entails.

The dope does not realize that people who earn less than $400,000 will not pay more taxes

 

[esalla]

A Dope like you should realize you can raise some rates and leave others untouched

A dope like you doesn't understand what "repealing the Trump tax cuts" actually entails.

The dope does not realize that people who earn less than $400,000 will not pay more taxes

Yes they will because the Trump tax cuts do not only apply to people making over 400 g per year.

Also a tax increase only to those making over 400 g per year would not raise very much as most people are not included, and that number will increase when the company owners lay you off

 

[DBA]

That's obviously a silly statement, more explanation is DEFINITELY necessary.

No, it is very clear and Biden and Harris both made it very clear. The Trump tax cuts will be repealed. It cannot be more clear than that.

No, it means if you itemize, the deductions won't affect be taken at the marginal rate above 28%. The benefits of itemization don't apply equally. They get greater and greater as your marginal tax rate increases. This makes any deduction a lopsided benefit. There are other was of handling this too, and I actually prefer creating a tax credit of a percent of the amount which would apply equally to all earners.

What this means is that those in the 32% tax bracket and above will no longer be able to get a 32%+ deduction on income above $163,301. That is effectively a tax increase for people making above 163,301 per year. I thought taxes weren't being increased for anyone not making more than 400k? You can spin it all you would like, but the bottom line is that many people making more than 163,301 will be paying more in taxes. Democrats love this because it very well may decrease charitable contributions by wealthier folks. Democrats would much rather have the government dole out the money because they believe they are better stewards...which is kind of mind boggling really.

Why? You think millionaires have better things to do with their money other than investing?

I know I do. Boats are nice, but they can hardly be considered investments.

Ah, so now you're against exporting jobs when a Democrat has a plan for it?

I am not for exporting jobs overseas and I am fine with giving tax incentives, but I envision the incentives being far too green-centric. I also believe regulations will hinder US businesses to a point where they want be nearly as competitive in the world economy.

The 401k provision isn't set in stone yet, so this is speculation. What this is doing is limiting the deduction you get from contributing. The example above would only affect people with a marginal tax rate >20%, but the tax credit rate hasn't been set in stone. Again, this is to even out the benefit of deductions like 401k. If a person has a marginal tax rate of 10%, let's say, there's a lot less incentive to contribute to a 401k than a person with a marginal tax rate of 35%.

Yeah, it isn't set in stone yet. This just another way of raising taxes on many Americans and most certainly many that make less than 400k per year. Folks like the added benefit of offsetting some of their income, but they can only offset up to x% of 19,500 so there are already built in caps. The net affect of this will be that people will not contribute as much to their retirement plans...I know I won't. I will have to find other investment vehicles or sit on the money if the Democrats continue their wealth distribution strategy.

If granny sold her house, she'd pay the tax on the 50k gain. Why should it be any different if someone sells it after she dies instead?

Actually, she would not on the first 250k(single) or 500k(married). So, no, she would not be paying any tax on the 50k gain. Biden hast talked about putting an end to this too, so it is possible this provision could also be nixed and should be counted as yet another tax hike that is not reserved for people making over 400k per year.

 

[rightwinger]

A Dope like you should realize you can raise some rates and leave others untouched

A dope like you doesn't understand what "repealing the Trump tax cuts" actually entails.

The dope does not realize that people who earn less than $400,000 will not pay more taxes

Yes they will because the Trump tax cuts do not only apply to people making over 400 g per year.

Also a tax increase only to those making over 400 g per year would not raise very much as most people are not included, and that number will increase when the company owners lay you off

Hey Short Bus!

Here is how it works. Dems will control Congress.
They will unilaterally decide the new tax code, just like Republicans did.
That new code will keep tax rates for those making under $400,000 the same. Those making more will not be so lucky

 

[Daryl Hunt]

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

How dare you use FActs and direct quotes. You are supposed to use Talking Heads for information.

Either way the consumers will pay more as the costs are passed on to them. We know the drill from the Prog. Its either direct or indirectly. Either way we get reamed.

WE are getting reamed right now. And that money MUST be made up. The Middle Class and below just can't afford to pay anymore than they already are. Care to tell me where the funding is going to come from? I suggest we auction Liousiana off but relocate the Football team prior to the Auction. And keep New Orleans. Maybe the French will take it back.

 

[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.

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.

Yeah, miniscule job gains! Barack Obama and Joe Biden oversaw the worst recovery from a recession since The Great Depression! Why would anyone in their right mind want THAT guy to run the economy again? Have you listened to his so called "plan"? It's a recipe for the same stagnant economic recovery.

The statistics show that Obama created more jobs (if you're going to say the President creates jobs) than the blob did in the last few years of his presidency vs the first few years of the Blob's presidency.

Would you care to explain which Obama economic policy it was that created jobs, Candy? Jobs were created during the Obama Administration DESPITE his economic policies...not because of them! One of the main drivers of job creation was advances in fracking which led to a huge boom in the oil and natural gas industry but fracking was something that Barry was against! Oil and natural gas production went DOWN on Federal lands that the Obama Administration controlled!

Again...if you're under the impression that the President creates jobs...something you guys said didn't happen until Trump came around...Obama's package of stimulus, favorable markets, etc... helped.

Was it the cause? Who knows? One would think though that if corporations were struggling under Obama, the DJIA wouldn't have climbed 149% as it did. Something the blob can't match in his wildest dreams.

Don't think I didn't notice you ran away from my query as to what Obama economic policy it was that created jobs, Candy! That question is like Kryptonite to you liberals!

From the previous post:

"Obama's package of stimulus, favorable markets, etc... helped."

The stimulus? Do you remember all of the "shovel ready" jobs that Barry created with that? Oh...that's right...they never materialized! Would you like me to pull up the video of him sheepishly admitting that was the case?

Well, the money went somewhere...do you think it just disappeared? PS: Trump's $6.6T in red ink hasn't done shit either.... So this fantasy that the president creates jobs is just that.

The lowest minority unemployment ever happened under Trump

Minority unemployment is now higher than it was under Obama

You mean during a world-wide pandemic or before?

 

[rightwinger]

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.

Yeah, miniscule job gains! Barack Obama and Joe Biden oversaw the worst recovery from a recession since The Great Depression! Why would anyone in their right mind want THAT guy to run the economy again? Have you listened to his so called "plan"? It's a recipe for the same stagnant economic recovery.

The statistics show that Obama created more jobs (if you're going to say the President creates jobs) than the blob did in the last few years of his presidency vs the first few years of the Blob's presidency.

Would you care to explain which Obama economic policy it was that created jobs, Candy? Jobs were created during the Obama Administration DESPITE his economic policies...not because of them! One of the main drivers of job creation was advances in fracking which led to a huge boom in the oil and natural gas industry but fracking was something that Barry was against! Oil and natural gas production went DOWN on Federal lands that the Obama Administration controlled!

Again...if you're under the impression that the President creates jobs...something you guys said didn't happen until Trump came around...Obama's package of stimulus, favorable markets, etc... helped.

Was it the cause? Who knows? One would think though that if corporations were struggling under Obama, the DJIA wouldn't have climbed 149% as it did. Something the blob can't match in his wildest dreams.

Don't think I didn't notice you ran away from my query as to what Obama economic policy it was that created jobs, Candy! That question is like Kryptonite to you liberals!

From the previous post:

"Obama's package of stimulus, favorable markets, etc... helped."

The stimulus? Do you remember all of the "shovel ready" jobs that Barry created with that? Oh...that's right...they never materialized! Would you like me to pull up the video of him sheepishly admitting that was the case?

Well, the money went somewhere...do you think it just disappeared? PS: Trump's $6.6T in red ink hasn't done shit either.... So this fantasy that the president creates jobs is just that.

The lowest minority unemployment ever happened under Trump

Minority unemployment is now higher than it was under Obama

You mean during a world-wide pandemic or before?

Trump has record unemployment
Worse than Obama’s