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

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.






Your rant, false though it is, does not warrant a reply.
 
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.






Your rant, false though it is, does not warrant a reply.
I accept your 'surrender'...
 
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.






Your rant, false though it is, does not warrant a reply.
I accept your 'surrender'...
It is laughable, and that is the only way to describe that nonsensical tirade.
 
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.






Your rant, false though it is, does not warrant a reply.
I accept your 'surrender'...
It is laughable, and that is the only way to describe that nonsensical tirade.
Again, I accept your surrender.
 
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.






Your rant, false though it is, does not warrant a reply.
I accept your 'surrender'...
It is laughable, and that is the only way to describe that nonsensical tirade.
Again, I accept your surrender.
BBBBBBBBBBBut lambchop? Why, ah say why!
 
And trump did both. Hurt revenue growth and drastically increased spending . He inherited a $600 billion deficit and turned into a trillion pre covid. Deficits increase with every repub pres.

Your people just put us 2 trillion in the hole in a little over a month, much of it repaying their voters and wasteful spending. Trump presided with a Democrat House for two years, you know, that same Democrat House that passed two Covid bills, again, loaded with pork.

The money Trump spent was on our military which is a good thing for the entire country--not just Republican voters and support groups. The defense of this country is charged to our federal leaders, and China is starting to get ahead on their military might over us. Much like DumBama, look for defense spending to be cut once again in the next two years.
 
Yeah, the signs are everywhere. The growth in incomes is an illusion. It's all inflation. The ones that suffer the most are the poor and the elderly. The numbers may show a declining lower and middle class and an inclining upper class but what they don't show is discretionary spending. So even while incomes are going up, people are still getting pinched. It's all a consequence of our government's fiscal policy of inflating their way out of debt. It's not sustainable.

I went to get a new cell phone for my mother last summer. She's 85 and doesn't catch on to technology very well. So a nice simple flip phone like I bought her last time. Went to the Verizon store, and they only had three models. I chose the best one for my mother with the largest numbers so she could see what she's pressing. I asked the salesman why only three models? He told me nobody buys those phones anymore. The one I was buying was the first one he sold in over 4 months. Everybody buys smart phones.

When I think back to what I had as a teen in the 70's, and how much we spend on entertainment, dining, luxuries, and conveniences today, it's no wonder people don't have a lot left. They don't look at these things as conveniences, they look at them as necessities. When I was growing up, few actually went anywhere during their vacation. They just stayed home. Today people are flying all around the country and world several times a year. We went out to McDonald's once a year or so. A movie about twice a year. No cable, just rabbit ears on top of a television. One landline telephone for our entire household of five.

Point is we spend a lot more money on stuff we really don't need to have unlike many years ago.
> Point is we spend a lot more money on stuff we really don't need to have unlike many years ago.

I am so with you on all of that.

I have a Tracfone smartphone. I almost never use it. I tend to use computers and landlines. I am always near a landline or computer, except when I am driving.

My cell phone cost me $79 to buy, and about $5 per month to operate. There is no contract, and minutes roll over forever as long as service is active.

Same for the others in our household, but my wife does burn through about $10 in text messages monthly.

I have used them for over a decade and saved many thousands of dollars that I used for other things. It's a great way to save money, along with doing certain simple care repairs yourself, like brakes, and learning to fix just about anything oneself.

FYI, Tracfone offers one or more flip phones which are even cheaper to buy and also about $5/month to keep service active or $20 per month for unlimited talk and text if one talks a tremendous amount.

This is not an advertisement. I have no vested interest in Tracfone. I am sharing a potentially-helpful tip.
 
> Point is we spend a lot more money on stuff we really don't need to have unlike many years ago.

I am so with you on all of that.

I have a Tracfone smartphone. I almost never use it. I tend to use computers and landlines. I am always near a landline or computer, except when I am driving.

My cell phone cost me $79 to buy, and about $5 per month to operate. There is no contract, and minutes roll over forever as long as service is active.

Same for the others in our household, but my wife does burn through about $10 in text messages monthly.

I have used them for over a decade and saved many thousands of dollars that I used for other things. It's a great way to save money, along with doing certain simple care repairs yourself, like brakes, and learning to fix just about anything oneself.

FYI, Tracfone offers one or more flip phones which are even cheaper to buy and also about $5/month to keep service active or $20 per month for unlimited talk and text if one talks a tremendous amount.

This is not an advertisement. I have no vested interest in Tracfone. I am sharing a potentially-helpful tip.

Well they have me hook, line and sinker. I'm too spoiled by Verizon service. My father dropped them to get a better deal with T-Mobile. Now every time I talk with him, his phone fades in and out. I'm no longer working but when I was, I needed my Google or Apple maps. I was a tractor-trailer driver.

I still love my toys though. I have an 80" television, I have remote start for my car, of course this internet and cable, a few video games that I never play anymore.

However if I can't make ends meet, I'm only going to blame myself. I realize I spend money on all this stuff, but it's my choice. I get too much enjoyment out of it. I'm not going to complain and whine because I don't have enough to live on AND pay for all my toys.
 
The point was about where the tax money is at.

No it's where the income that is taxed is at.
So your statement that, " Even the stupidest politician knows that the middle class is where the money is" was referring to income and not tax revenue?

Take it anyway you want.
It would seem logical that politicians are interested in tax revenue, so I'll take it that way. And based upon the trends, the middle class is not the dominant tax base anymore. So even the stupidest politician knows that the middle class isn't where the money is anymore.

But it was really yours to make as you were the one who said it.
You point that our government should focus tax policy on the wealthy is idiotic. Just look at the results of that policy in brownbacks Kansas.
 
The point was about where the tax money is at.

No it's where the income that is taxed is at.
So your statement that, " Even the stupidest politician knows that the middle class is where the money is" was referring to income and not tax revenue?

Take it anyway you want.
It would seem logical that politicians are interested in tax revenue, so I'll take it that way. And based upon the trends, the middle class is not the dominant tax base anymore. So even the stupidest politician knows that the middle class isn't where the money is anymore.

But it was really yours to make as you were the one who said it.
You point that our government should focus tax policy on the wealthy is idiotic. Just look at the results of that policy in brownbacks Kansas.
That's not my point, buddy. I'm for a flat tax.
 
The point was about where the tax money is at.

No it's where the income that is taxed is at.
So your statement that, " Even the stupidest politician knows that the middle class is where the money is" was referring to income and not tax revenue?

Take it anyway you want.
It would seem logical that politicians are interested in tax revenue, so I'll take it that way. And based upon the trends, the middle class is not the dominant tax base anymore. So even the stupidest politician knows that the middle class isn't where the money is anymore.

But it was really yours to make as you were the one who said it.
You point that our government should focus tax policy on the wealthy is idiotic. Just look at the results of that policy in brownbacks Kansas.
That's not my point, buddy. I'm for a flat tax.
A flat tax is a regressive tax that again benefits the high income people. Our economy is based on consumers and you want to focus on people buying stock.
 
> Point is we spend a lot more money on stuff we really don't need to have unlike many years ago.

I am so with you on all of that.

I have a Tracfone smartphone. I almost never use it. I tend to use computers and landlines. I am always near a landline or computer, except when I am driving.

My cell phone cost me $79 to buy, and about $5 per month to operate. There is no contract, and minutes roll over forever as long as service is active.

Same for the others in our household, but my wife does burn through about $10 in text messages monthly.

I have used them for over a decade and saved many thousands of dollars that I used for other things. It's a great way to save money, along with doing certain simple care repairs yourself, like brakes, and learning to fix just about anything oneself.

FYI, Tracfone offers one or more flip phones which are even cheaper to buy and also about $5/month to keep service active or $20 per month for unlimited talk and text if one talks a tremendous amount.

This is not an advertisement. I have no vested interest in Tracfone. I am sharing a potentially-helpful tip.

Well they have me hook, line and sinker. I'm too spoiled by Verizon service. My father dropped them to get a better deal with T-Mobile. Now every time I talk with him, his phone fades in and out. I'm no longer working but when I was, I needed my Google or Apple maps. I was a tractor-trailer driver.

I still love my toys though. I have an 80" television, I have remote start for my car, of course this internet and cable, a few video games that I never play anymore.

However if I can't make ends meet, I'm only going to blame myself. I realize I spend money on all this stuff, but it's my choice. I get too much enjoyment out of it. I'm not going to complain and whine because I don't have enough to live on AND pay for all my toys.
I use a Garmin for driving. Costs $100 once, and lasts for years.

My son uses his cell phone for navigation. The cost is trivial $10/GB, but he is not a truck driver and probably uses 1 GB per year.
 
The point was about where the tax money is at.

No it's where the income that is taxed is at.
So your statement that, " Even the stupidest politician knows that the middle class is where the money is" was referring to income and not tax revenue?

Take it anyway you want.
It would seem logical that politicians are interested in tax revenue, so I'll take it that way. And based upon the trends, the middle class is not the dominant tax base anymore. So even the stupidest politician knows that the middle class isn't where the money is anymore.

But it was really yours to make as you were the one who said it.
You point that our government should focus tax policy on the wealthy is idiotic. Just look at the results of that policy in brownbacks Kansas.
That's not my point, buddy. I'm for a flat tax.
A flat tax is a regressive tax that again benefits the high income people. Our economy is based on consumers and you want to focus on people buying stock.
Says you. I say it is a fair tax that taxes everyone equally the same. Get rid of all deductions. Make the rate 25%. Then everyone will have skin in the game and care about spending.
 
The point was about where the tax money is at.

No it's where the income that is taxed is at.
So your statement that, " Even the stupidest politician knows that the middle class is where the money is" was referring to income and not tax revenue?

Take it anyway you want.
It would seem logical that politicians are interested in tax revenue, so I'll take it that way. And based upon the trends, the middle class is not the dominant tax base anymore. So even the stupidest politician knows that the middle class isn't where the money is anymore.

But it was really yours to make as you were the one who said it.
You point that our government should focus tax policy on the wealthy is idiotic. Just look at the results of that policy in brownbacks Kansas.
That's not my point, buddy. I'm for a flat tax.
A flat tax is a regressive tax that again benefits the high income people. Our economy is based on consumers and you want to focus on people buying stock.
If I made a million dollars and you made 100 grand, I'd pay 250 k in taxes and you'd pay 25k in taxes. I'd still be paying 10 times more than you.

The current structure is a farce because of all the deductions. They don't pay anywhere near the tax table rates because of all the deductions.
 
Says you. I say it is a fair tax that taxes everyone equally the same. Get rid of all deductions. Make the rate 25%. Then everyone will have skin in the game and care about spending.

It might look good on paper, but not practical. If I could no longer use tax deductions, I would have to take a steep increase in my rents. My tenants are all good hard working people, but they aren't rich.
 
Says you. I say it is a fair tax that taxes everyone equally the same. Get rid of all deductions. Make the rate 25%. Then everyone will have skin in the game and care about spending.

It might look good on paper, but not practical. If I could no longer use tax deductions, I would have to take a steep increase in my rents. My tenants are all good hard working people, but they aren't rich.
Yeah that would suck.
 

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