Tiberius Posted November 16, 2018 Posted November 16, 2018 Quote A proposed tax plan from Sen. Kamala D. Harris (D-Calif.) would cost the federal government $2.8 trillion over a decade but cut taxes by about $3,000 for the majority of working-class Americans, according to a new analysis. Under Harris’s plan, the federal government would pay tax credits that match a person’s earnings up to $3,000 (or $6,000 for married couples) but phase out those credits for higher earners. The Tax Policy Center, a nonpartisan think tank, said Wednesday that Harris’s LIFT Act would add $2.8 trillion to the federal deficit in its first 10 years and an additional $3.4 trillion in the following decade. Harris has proposed paying for the tax cut by eliminating the parts of the Republican tax law passed last fall that benefit the rich, as well as levying a new tax on large financial institutions. https://www.washingtonpost.com/business/2018/11/15/almost-all-sen-harriss-trillion-tax-plan-would-help-middle-working-class-study-finds/?utm_term=.7370d7195251
TakeYouToTasker Posted November 16, 2018 Posted November 16, 2018 You can't cut federal taxes on people who have no federal tax burden. It's not a tax cut, but is rather a new federal welfare program. It's being presented as a tax cut by those proposing it because they know if they were up front and honest about seeking to expand the welfare state it would be met with skepticism, so instead they lie and manipulate language. It's also further evidence that Democrats aren't being honest when they talk about concern over deficits. 11 4
3rdnlng Posted November 16, 2018 Posted November 16, 2018 Gleeful Gator, you are without a doubt the biggest idiot I've ever come across.
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 9 minutes ago, 3rdnlng said: Gleeful Gator, you are without a doubt the biggest idiot I've ever come across. Oh boo hoo, tax cuts for the non-super wealthy are bad! BAD!
Teddy KGB Posted November 16, 2018 Posted November 16, 2018 Just now, Tiberius said: Oh boo hoo, tax cuts for the non-super wealthy are bad! BAD! You work too many hours at the laundromat to benefit though ??♂️
3rdnlng Posted November 16, 2018 Posted November 16, 2018 1 minute ago, Tiberius said: Oh boo hoo, tax cuts for the non-super wealthy are bad! BAD! Gleeful Gator, you are without a doubt the biggest idiot I've ever come across.
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 7 minutes ago, Teddy KGB said: You work too many hours at the laundromat to benefit though ??♂️ Which is too bad, I work hard there and have to deal with lowlifes like @3rdnlngthat stumble in looking for free stuff/
Gavin in Va Beach Posted November 16, 2018 Posted November 16, 2018 Also to be known as the 'Misery Loves Company Tax Act' . Holy hell, if they pass something like this, it's seriously time to enact an Escape Plan. We aren't just doomed to repeat history, we're doomed to repeat the worst parts of it.
Chef Jim Posted November 16, 2018 Posted November 16, 2018 What spending is she proposing to cut to pay for these tax cuts? Funny how every business and household in the world has to operate on a balance sheet however the government can't quite figure that one out. And yes this criticism is of both sides of the aisle.
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 14 minutes ago, Chef Jim said: What spending is she proposing to cut to pay for these tax cuts? Funny how every business and household in the world has to operate on a balance sheet however the government can't quite figure that one out. And yes this criticism is of both sides of the aisle. Businesses don't borrow money to operate? Households don't take out huge loans to buy cars, houses and furniture? What the hell are you talking about?
Chef Jim Posted November 16, 2018 Posted November 16, 2018 8 minutes ago, Tiberius said: Businesses don't borrow money to operate? Households don't take out huge loans to buy cars, houses and furniture? What the hell are you talking about? Name me one successful company or household that falls deeper and deeper and deeper in to debt. I'll wait.
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 3 minutes ago, Chef Jim said: Name me one successful company or household that falls deeper and deeper and deeper in to debt. I'll wait. Why? What point are you trying to make? You saying we are not a successful country? ?
Chef Jim Posted November 16, 2018 Posted November 16, 2018 4 minutes ago, Tiberius said: Why? What point are you trying to make? You saying we are not a successful country? ? With our mounting debt not for long.
Foxx Posted November 16, 2018 Posted November 16, 2018 (edited) 11 minutes ago, Chef Jim said: Name me one successful company or household that falls deeper and deeper and deeper in to debt. I'll wait. lol. all outstanding debt owed by the federal government exceeded $21 trillion on March 15, 2018. ouch! Edited November 16, 2018 by Foxx
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 Just now, Chef Jim said: With our mounting debt not for long. We have been in debt, and accumulating more, almost continuously since the nation was founded. You were against the Trump Tax Cuts, I suppose?
Cinga Posted November 16, 2018 Posted November 16, 2018 35 minutes ago, Foxx said: lol. all outstanding debt owed by the federal government exceeded $21 trillion on March 15, 2018. ouch! that's not all because we don't count unfunded liabilities like SS and medicare which gets us to about 115.5 Trillion... That puts our liability per person btw at about $946,419.00, almost a million apiece... http://www.usdebtclock.org/ It won't be long and our debt will exceed our entire national worth
Foxx Posted November 16, 2018 Posted November 16, 2018 3 minutes ago, Cinga said: that's not all because we don't count unfunded liabilities like SS and medicare which gets us to about 115.5 Trillion... That puts our liability per person btw at about $946,419.00, almost a million apiece... http://www.usdebtclock.org/ It won't be long and our debt will exceed our entire national worth it's good to be the world's reserve, isn't it? debt doesn't matter until it does. and when it does, the US is going to be in a world of hurt. Venezuela, Zimbabwe... you aint seen nothing yet....
billsfan89 Posted November 16, 2018 Posted November 16, 2018 (edited) If I were advising the Dems on taxes I would push to eliminate many of the corporate tax deductions and raise the corporate rate to 25% while restoring the previous tax rates on the top 2 brackets. Keep the Trump rates on the lower, middle, and upper middle tax rates while upping the SALT cap to 50k so that actual middle and upper middle class people in Blue states see a tax cut. Then propose a desperately needed infrastructure plan with the money restored from the tax restructuring. Adding more tax cuts isn't addressing the issues of infrastructure and investment that is needed. 37 minutes ago, Cinga said: that's not all because we don't count unfunded liabilities like SS and medicare which gets us to about 115.5 Trillion... That puts our liability per person btw at about $946,419.00, almost a million apiece... http://www.usdebtclock.org/ It won't be long and our debt will exceed our entire national worth Public debt is ***** confusing. For every dollar the US owes other nations the US is owed 80 cents from other nations. Also unfunded liability numbers are misleading as that uses standards implemented from the private sector which isn't the model Social Security operates in. That's not to say that public programs like SS won't be a problem but the way those numbers are framed is misleading. Edited November 16, 2018 by billsfan89 1
Chef Jim Posted November 16, 2018 Posted November 16, 2018 53 minutes ago, Tiberius said: We have been in debt, and accumulating more, almost continuously since the nation was founded. You were against the Trump Tax Cuts, I suppose? Never ever ever against tax cuts. I'm always always always against an ever growing government. You can't have both and sustain it. Think of how much money you and I would have from our income if the government didn't need to service this outrageous debt.
Tiberius Posted November 16, 2018 Author Posted November 16, 2018 17 minutes ago, Chef Jim said: Never ever ever against tax cuts. I'm always always always against an ever growing government. You can't have both and sustain it. Think of how much money you and I would have from our income if the government didn't need to service this outrageous debt. Oh, so you support Harris's tax cut then, great! I'm doing great. If the government got rid of all its debt you'd just be crying about something else that probably has no effect on you life either.
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