Joe Biden is reportedly 'planning first major tax hike in almost 30 years'

Get rid of every other tax and just pay a flat-tax at the register.

Lets divide all government spending equally, every man and woman pays the same equal share of the spending. THAT will get the damn spending under control in short order. No more freeloaders.
Yeah sure, you ever try to ween white people of freeloading?
>Yeah sure, you ever try to ween white people of freeloading?

Your racism is showing.

Don't you mean, "you ever try to ween freeloaders of freeloading?"
Capitol-Insurrection-Trump-Coup.jpg
85% of the people arrested at the Capitol were business owners or held down white-collar jobs.

 
Get rid of every other tax and just pay a flat-tax at the register.

Lets divide all government spending equally, every man and woman pays the same equal share of the spending. THAT will get the damn spending under control in short order. No more freeloaders.
Yeah sure, you ever try to ween white people of freeloading?
>Yeah sure, you ever try to ween white people of freeloading?

Your racism is showing.

Don't you mean, "you ever try to ween freeloaders of freeloading?"
Capitol-Insurrection-Trump-Coup.jpg
85% of the people arrested at the Capitol were business owners or held down white-collar jobs.

Yeah, I’m underwhelmed by the water carried by the libertarian think tank.
 
Get rid of every other tax and just pay a flat-tax at the register.

Lets divide all government spending equally, every man and woman pays the same equal share of the spending. THAT will get the damn spending under control in short order. No more freeloaders.
You’ve never handled operations at any kind of significant scale before have you?
You misinterpreted the post.
The issue is that every tax payer should pay an equal share, regardless of income.
That would get the lowest paid people to stop wanting more projects by government.
I don't like that idea. The value of a dollar is far greater to a poor person than it is to a rich person. Because of that I think rich people should pay a higher percentage than poor people. It is better for our economy for money to cycle from the top to the bottom as much as possible. It is too easy for the wealthy to suck up all the wealth in this country which ultimately destroys the middle class
Define rich.
I see lots of poor people people being employed by rich people to build malls, stores and homes.
Yes that is true rich people do employ poor people. For argument sake I’d say $400k + a year is a line to separate the classes
Which is why there are loopholes since different people invest &/or spend their money is different ways.
For instance, let's destroy the Travel Industry because people who make 400K can afford a vacation that someone making 20K can't.
The result is that the uppity vacation spots and services will go under.
Who wants to destroy the travel industry and how?
You've got to be joking?
How does on measure the impact of a tax hike before it becomes reality?
We have no idea the impact of someone earning 400K/years having to lay out x more dollars as taxes.
One or more industries will pay the price and/or credit card interest rates will rise and when people default on their credit, the interest rates will rise even more.
I hate to bring up race, but if you're Black you can reconcile your debt once a year as my co-workers have done over the last 10 years time and again.
What does that have to do with people trying to destroy the vacation industry? Which is nobodies intent BTW. You are trying to connect way too many dots.
More of your tunnel vision bullshit.
It is not the intention of a victim of dementia to destroy an industry; it is a consequence of not considering the ripple effects of a economic policy.
I am grateful to God that you are not in charge of the economy.
You’re seeing way more ripples than there actually are. Anger and paranoia will do that to ya
I graduated in 1981 and went straight to Wall Street; I know what happens.
I’m sure you think you do. So what part of the travel industry is about to be destroyed by this tax proposal? Give a forecast
I’m sure you travel a lot so you tell me.
Since you’re so flippant concerning this issue, let’s flip your request the other way...
Predict for me that not one sector depending on this population of 400K+ will be affected.
I’m sure the hedge funds are going to lose a point and I feel horrible for them. Maybe we can start a go fund me page for them. People who make $400k or more a year are doing whatever the fuck they want I’m sure they appreciate your concern for them though
Most send their kids to private schools and have advanced science degrees and hire blue collar workers.
That’s wonderful. I’m sure they will continue on with all that stuff
I’m sure you enjoy the taste of sour grapes.
 
I’m sure the hedge funds are going to lose a point and I feel horrible for them. Maybe we can start a go fund me page for them. People who make $400k or more a year are doing whatever the fuck they want I’m sure they appreciate your concern for them though

Isolate and demonize am I right. PUNISH people for being successful. Do you realize this includes many liberal Dems in California who earn that kind of money working government jobs? :itsok:
 
Still ... no conserative plan to pay off the national debt? ...
There's no need to pay off the debt.
Most of the debt is held by Americans therefore most of the interest paid on the debt goes right back into the American economy.

HAW HAW HAW HAW HAW HAW HAW HAW HAW HAW HAW ...

Now there's an ignorant idea ...
Really?

How about I prove it to you?


So 23% of the debt is money the government owes itself so it's not really debt at all and will never be paid off.

Of the remaining 77% or 21 trillion

6.8 Trillion is owed to foreign governments

14.2 trillion owned by The federal reserve, State governments, US mutual funds, Pension funds , US banks and individual US investors.


Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.

So who's ignorant ?
 
There's no need to pay off the debt.

Sounds like this guy went to the Donald Trump school of business.

The majority of the debt is owned by US banks, investment companies US State governments and individual investors so most of the interst paid on the debt is put right back into the US economy.

Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.

 
Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.

So who's ignorant ?

Does it matter who the money is borrowed from? ... it still has to be paid back ... or will SS send out IOUs instead of money? ...

No, you're the ignorant one here ... remind me never to loan you money ...
 
Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.

So who's ignorant ?

Does it matter who the money is borrowed from? ... it still has to be paid back ... or will SS send out IOUs instead of money? ...

No, you're the ignorant one here ... remind me never to loan you money ...

Social security doesn't get paid out of a separate account , it gets paid out of the general fund.

There never was a dime in a Social Security account set aside just for you.

It's nothing but a bookkeeping entry.

The government cannot owe money to itself. That's like you claiming your electric bill fund owes your car payment fund money and will pay interest to your electric bill fund

. That's why 23% of the debt isn't debt at all because it's the government saying it owes money to itself. It doesn't. And the fact that the government issues special bonds to itself that no one else can buy should clue you in on that.
 
Call me petty but I really do not care if some one making over 400,00 a year has to pass on the custom leather seats for something standard. While every single day you see people in the grocery store passing on there favorite ice cream or meat because it cost more than they can afford in the food budget. When the ratio of the corporation big wigs pay against his average worker is 270 times higher. Time for the people who keep the wheels spinning to get a little help.
 
Social security doesn't get paid out of a separate account , it gets paid out of the general fund.

There never was a dime in a Social Security account set aside just for you.

It's nothing but a bookkeeping entry.

The government cannot owe money to itself. That's like you claiming your electric bill fund owes your car payment fund money and will pay interest to your electric bill fund

. That's why 23% of the debt isn't debt at all because it's the government saying it owes money to itself. It doesn't. And the fact that the government issues special bonds to itself that no one else can buy should clue you in on that.

Foolish moron ... SS is a trust fund managed by the government ... payroll taxes received are held "in trust" of promised payouts ...


See where it is explained how intergovernmental debt is a component of national debt? ... that means Federal general revenues must pay back the money borrowed from the SS Trust Fund ... with interest ...

You have no clue as to how pension funds work ... so, refusing to pay back the loans drawn off other government accounts doesn't work ... idiot ... Republicans want to gut SS and get rid of it altogether ... heartless bastards ...
 
Social security doesn't get paid out of a separate account , it gets paid out of the general fund.

There never was a dime in a Social Security account set aside just for you.

It's nothing but a bookkeeping entry.

The government cannot owe money to itself. That's like you claiming your electric bill fund owes your car payment fund money and will pay interest to your electric bill fund

. That's why 23% of the debt isn't debt at all because it's the government saying it owes money to itself. It doesn't. And the fact that the government issues special bonds to itself that no one else can buy should clue you in on that.

Foolish moron ... SS is a trust fund managed by the government ... payroll taxes received are held "in trust" of promised payouts ...


See where it is explained how intergovernmental debt is a component of national debt? ... that means Federal general revenues must pay back the money borrowed from the SS Trust Fund ... with interest ...

You have no clue as to how pension funds work ... so, refusing to pay back the loans drawn off other government accounts doesn't work ... idiot ... Republicans want to gut SS and get rid of it altogether ... heartless bastards ...



Social Security isn't a pension fund. It never was.

And if you bothered to do the math you might see that if you had control of that money and the money that your employer matches that you would actually be able to retire with a fuck of a lot more money than Social Security will pay you.
 
You have no clue as to how pension funds work ... so, refusing to pay back the loans drawn off other government accounts doesn't work ... idiot ... Republicans want to gut SS and get rid of it altogether ... heartless bastards ...

When did we ever say that? GW presided with an all Republican Congress for most of his two terms. The only suggestion he made about SS is that people be allowed to take a small fraction of their contributions and invest it themselves like in an IRA. The commies had a fit. Why? Because the more you depend on them, the more power they have over the people.

What should happen to SS is it gets transferred to the states. From then on, payroll contributions go to the state to invest instead of the federal government. Then any US President could never borrow from it again. If you move from one state to another, the state you moved from has to transfer all you and your employers contributions to the new state you're moving to.

The Democrats would fight against that tooth and nail. They love government dependents. That's why they keep trying to start even more social programs.
 
Call me petty but I really do not care if some one making over 400,00 a year has to pass on the custom leather seats for something standard. While every single day you see people in the grocery store passing on there favorite ice cream or meat because it cost more than they can afford in the food budget. When the ratio of the corporation big wigs pay against his average worker is 270 times higher. Time for the people who keep the wheels spinning to get a little help.

You could raise taxes on people making over 400K all you like, and they'd still have custom leather seats in their vehicles. The rich guy never loses. He passes down his losses to you and I, the little people. Not only will you have to pass on your favorite flavor of ice cream or meat, you will have to go to the cheapest they have.
 
Social Security isn't a pension fund. It never was.

And if you bothered to do the math you might see that if you had control of that money and the money that your employer matches that you would actually be able to retire with a fuck of a lot more money than Social Security will pay you.

SS was established for people too stupid to save for their own retirement ... once they were too old to work, they lived on in abject poverty, or with one of their children ... something conservatives seem to like ...

CBS News looked into the ROI about ten years ago ... "What's the Return on Your Social Security Taxes?" -- Feb 28th, 2011:

"How's it shake out? If you retired last year [2010] as an average wage-earning man, for example, you could expect a lifetime benefit worth $417,000 in today's dollars on $345,000 in taxes. If you were a woman with the same work history, you could expect to collect $464,000 on the same taxes."

So ... that's your solution to the debt ... strip the SS Trust Fund and take the 15.3% payroll taxes ... then quit paying benefits ... wise, very wise ...
 
Get rid of every other tax and just pay a flat-tax at the register.

Lets divide all government spending equally, every man and woman pays the same equal share of the spending. THAT will get the damn spending under control in short order. No more freeloaders.
You’ve never handled operations at any kind of significant scale before have you?
You misinterpreted the post.
The issue is that every tax payer should pay an equal share, regardless of income.
That would get the lowest paid people to stop wanting more projects by government.
I don't like that idea. The value of a dollar is far greater to a poor person than it is to a rich person. Because of that I think rich people should pay a higher percentage than poor people. It is better for our economy for money to cycle from the top to the bottom as much as possible. It is too easy for the wealthy to suck up all the wealth in this country which ultimately destroys the middle class
Define rich.
I see lots of poor people people being employed by rich people to build malls, stores and homes.
Yes that is true rich people do employ poor people. For argument sake I’d say $400k + a year is a line to separate the classes
Which is why there are loopholes since different people invest &/or spend their money is different ways.
For instance, let's destroy the Travel Industry because people who make 400K can afford a vacation that someone making 20K can't.
The result is that the uppity vacation spots and services will go under.
Who wants to destroy the travel industry and how?
You've got to be joking?
How does on measure the impact of a tax hike before it becomes reality?
We have no idea the impact of someone earning 400K/years having to lay out x more dollars as taxes.
One or more industries will pay the price and/or credit card interest rates will rise and when people default on their credit, the interest rates will rise even more.
I hate to bring up race, but if you're Black you can reconcile your debt once a year as my co-workers have done over the last 10 years time and again.
What does that have to do with people trying to destroy the vacation industry? Which is nobodies intent BTW. You are trying to connect way too many dots.
More of your tunnel vision bullshit.
It is not the intention of a victim of dementia to destroy an industry; it is a consequence of not considering the ripple effects of a economic policy.
I am grateful to God that you are not in charge of the economy.
You’re seeing way more ripples than there actually are. Anger and paranoia will do that to ya
I graduated in 1981 and went straight to Wall Street; I know what happens.
I’m sure you think you do. So what part of the travel industry is about to be destroyed by this tax proposal? Give a forecast
I’m sure you travel a lot so you tell me.
Since you’re so flippant concerning this issue, let’s flip your request the other way...
Predict for me that not one sector depending on this population of 400K+ will be affected.
I’m sure the hedge funds are going to lose a point and I feel horrible for them. Maybe we can start a go fund me page for them. People who make $400k or more a year are doing whatever the fuck they want I’m sure they appreciate your concern for them though
Most send their kids to private schools and have advanced science degrees and hire blue collar workers.
That’s wonderful. I’m sure they will continue on with all that stuff
I’m sure you enjoy the taste of sour grapes.
I like sour gummy worms
 
I’m sure the hedge funds are going to lose a point and I feel horrible for them. Maybe we can start a go fund me page for them. People who make $400k or more a year are doing whatever the fuck they want I’m sure they appreciate your concern for them though

Isolate and demonize am I right. PUNISH people for being successful. Do you realize this includes many liberal Dems in California who earn that kind of money working government jobs? :itsok:
Punish?! No I don’t think taxing the rich is punishment. It is a privilege to pay taxes. Means you’re doing pretty well
 
Social Security isn't a pension fund. It never was.

And if you bothered to do the math you might see that if you had control of that money and the money that your employer matches that you would actually be able to retire with a fuck of a lot more money than Social Security will pay you.

SS was established for people too stupid to save for their own retirement ... once they were too old to work, they lived on in abject poverty, or with one of their children ... something conservatives seem to like ...

CBS News looked into the ROI about ten years ago ... "What's the Return on Your Social Security Taxes?" -- Feb 28th, 2011:

"How's it shake out? If you retired last year [2010] as an average wage-earning man, for example, you could expect a lifetime benefit worth $417,000 in today's dollars on $345,000 in taxes. If you were a woman with the same work history, you could expect to collect $464,000 on the same taxes."

So ... that's your solution to the debt ... strip the SS Trust Fund and take the 15.3% payroll taxes ... then quit paying benefits ... wise, very wise ...

SS was established for people too stupid to save for their own retirement ...

Agreed.

> "How's it shake out? If you retired last year [2010] as an average wage-earning man, for example, you could expect a lifetime benefit worth $417,000 in today's dollars on $345,000 in taxes. If you were a woman with the same work history, you could expect to collect $464,000 on the same taxes."

>So ... that's your solution to the debt ... strip the SS Trust Fund and take the 15.3% payroll taxes ... then quit paying benefits ... wise, very wise ...

You can't math, can you?

If one makes only $35k per year, gets 3% annual salary increases, saves 10% of income in the stock market and gets 8% returns, consistent with historical stock market returns....

After 40 years, one will have $1.26M in savings.

If one saved 15%, one will have $1.85M after 40 years.


Big government messes everything up. Relying upon government to take care of oneself will always fail.
 
View attachment 467956
'Hold onto your wallets'! Hope you enjoyed
your economic stimulus, because Joe Biden
is reportedly 'planning
first major tax hike in

almost 30 years'



President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package.

The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million.



PUBLIC FEEDBACK WAS SWIFT TO THE NEWS OF BIDEN'S PLAN:

“After we allow you to open your business back up, we’re gonna raise not only your wages, but your corporate tax rate to pay for a bill that sent billions of your dollars to the teachers unions that they donate back to my campaign.”


"But at least we got stimulus checks!
- And just like that, Joe Biden undoes any benefit that might have come from a stimulus check. "

"Taxing those who have the financial resources to reinvest in struggling businesses and help spur economic growth post-pandemic makes no sense."



The Democrats put more than 50% of minority-owned small businesses out of business ... put millions of Americans out of work, back on unemployment, back on welfare, and back on food stamps...put tens of thousands of Americans out of work in his 1st 10 days by declaring 'war' on the fossil fuel industry....the militant arm of he Democratic party (Antifa) is still burning, pillaging, and destroying businesses and Democrat-run communities all over the US.....class warfare is a Democrat 'specialty', and the Democrats' disdain for the middle and lower class
'deplorables' and 'Neanderthals' has been on full display since the self-appointed rulers took office.

After bribing the American people with $1400 each in a $1.9 Trillion 'COVID-19 Relief' deficit bomb - 90% of which had nothing to do with COVID-19, Biden plans on sticking Americans with a huge Tax Increase....just what a country still in the midst of a pandemic, Democrats-mandated, travel-restricted, Clue-State oppressed / locked-down, forced unemployment, massive debt-increased, illegal immigrant invasion, humanitarian border crisis burdened economy needs!

I for one am thankful that the Democrats are so adamant about refusing to work with the GOP and insist in doing all of this by themselves ... while attempting to blame President Trump for every failure / problem resulting from what they have done and continue to do.






Previous post just more BS from the party of dumb.

Great informative post there.

Got any more goodies ?
 

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