How will Trump’s tax INCREASE affect you?

[BillStime]

 

Edited March 27 by BillStime

[Tenhigh]

[Buffarukus]

holy crap. the dems arent playin around. that campaign is going to be brutal. rich and poor arent the same, the less you make the more skin in the game. ohhh man its catchy too. how bout this democrats 2022 this party has got it locked down! oh thats good. what on earth can republicans hit them back with? nothin! thats what! little nitpicking chumps dont have a thing, right billstime. the social work interns have reimagined these streets into peace festivals. people losing all this weight from jogging for their lives everywhere in the city. avoiding needless expensive crap like food and shelter.  never been better! can't wait for the blue monsooooooon!!!!

[Doc Brown]

Aren't the founders of this group former Republicans?  Is there anything in the tax plan that will raise taxes on the middle class that I don't know about this or next year?

[BillStime]

6 hours ago, Doc Brown said:

Aren't the founders of this group former Republicans?  Is there anything in the tax plan that will raise taxes on the middle class that I don't know about this or next year?

 

 

[Chef Jim]

6 hours ago, Doc Brown said:

Aren't the founders of this group former Republicans?  Is there anything in the tax plan that will raise taxes on the middle class that I don't know about this or next year?

It’s a Twit For Brains post that has no base in reality but only based in feelz. Don’t waste your time. 
 

BTW one of the biggest tax benefits of the TCJA went to lower and middle class folks.  No one EVER brings this up other than me.  Thanks Dinald! 
 

Edited April 19, 2022 by Chef Jim

[SoCal Deek]

29 minutes ago, Chef Jim said:

It’s a Twit For Brains post that has no base in reality but only based in feelz. Don’t waste your time. 
 

BTW one of the biggest tax benefits of the TCJA went to lower and middle class folks.  No one EVER brings this up other than me.  Thanks Dinald! 
 

I’ll second that! Tax the Rich….my arse! 

[BillStime]

 

 

Fox News’ John Roberts Crushes Sen. Rick Scott’s Attempt to Dismiss His Agenda as ‘Democrat Talking Points': ‘It’s in Your Plan!’

 

 

 

Idiots

[Chef Jim]

6 minutes ago, SoCal Deek said:

I’ll second that! Tax the Rich….my arse! 

The doubling of the standard deduction helped renters and was a hit to wealthier people along with SALT.  Those that rent have been screwed out of the ability to deduct mortgage interest which can be tens of thousands of dollars a year.  We had just sold our house and was renting for a couple years until we bought.  And we paid cash so even if it was available we’d have no interest to deduct.  The doubling of the standard deduction gave renters an immediate $12k a year additional deduction (for married couples) which is huge. 

[BuffaninSarasota]

A-ha, the go-to "paying your fair share" canard ....

[SoCal Deek]

36 minutes ago, Chef Jim said:

The doubling of the standard deduction helped renters and was a hit to wealthier people along with SALT.  Those that rent have been screwed out of the ability to deduct mortgage interest which can be tens of thousands of dollars a year.  We had just sold our house and was renting for a couple years until we bought.  And we paid cash so even if it was available we’d have no interest to deduct.  The doubling of the standard deduction gave renters an immediate $12k a year additional deduction (for married couples) which is huge. 

There's so much about the 'ol "Trump Tax Cut" complaint that I've never understood.  If a person makes $1,000,000 and has their upper rate cut by from 37.5 down to 35% that leaves less than $25,000 in their pocket to spend, invest, or save. Assuming they also pay state, property and an assortment of sales tax...that increased their net from $500,000 to something below $525,000.  So?  How does that harm anyone else?  Your federal taxes don't fund any of the things most leftists are traditionally whining about (teachers, cops, firemen, social security, etc.). Doesn't the high wage earner use the money to buy things that are made and sold by the middle and lower class? And, if instead the high wage earner chooses to save it, or invest it, good for them. Please don't tell me there's an expectation that Nancy, Mitch and Chuck are going to use the extra money to pay down the debt! 

[Doc Brown]

3 hours ago, Chef Jim said:

It’s a Twit For Brains post that has no base in reality but only based in feelz. Don’t waste your time. 
 

BTW one of the biggest tax benefits of the TCJA went to lower and middle class folks.  No one EVER brings this up other than me.  Thanks Dinald! 
 

I’m just confused because it’s a former Republican group.  They doubled the standard deductible so of course that helps.  I’d like to see the SALT deductions reinstated as they had to cut those to get the bill through due to reconciliation.

[leh-nerd skin-erd]

1 hour ago, Doc Brown said:

I’m just confused because it’s a former Republican group.  They doubled the standard deductible so of course that helps.  I’d like to see the SALT deductions reinstated as they had to cut those to get the bill through due to reconciliation.

Why do you want the SALT tax deduction reinstated?  I’m not looking for a fight, I was on the wrong side of that when the rules changed (at least as it relates to keeping more of my income), just wondering why you feel as you do?  
 

 

[Doc Brown]

7 hours ago, leh-nerd skin-erd said:

Why do you want the SALT tax deduction reinstated?  I’m not looking for a fight, I was on the wrong side of that when the rules changed (at least as it relates to keeping more of my income), just wondering why you feel as you do?  
 

 

Because eventually when wealthy people leave for red states the poor and middle class in blue states are left holding the bag.

[Chef Jim]

46 minutes ago, Doc Brown said:

Because eventually when wealthy people leave for red states the poor and middle class in blue states are left holding the bag.

How will SALT have wealthy people leaving for red states?  It’s part of the federal tax code. Are you thinking wealthy people stayed in typically higher taxed blue states for the tax deduction?  

[Doc Brown]

1 minute ago, Chef Jim said:

How will SALT have wealthy people leaving for red states?  It’s part of the federal tax code. Are you thinking wealthy people stayed in typically higher taxed blue states for the tax deduction?  

Capping the deduction gives them an incentive to leave.  Yes.

[Chef Jim]

4 minutes ago, Doc Brown said:

Capping the deduction gives them an incentive to leave.  Yes.

I find it hard to believe that a wealthy person is choosing to live in a high tax state because those high taxes are a federal tax deduction.  
 

Maybe blue states should come up with some tax incentives to get the wealthy people to want to stay and maybe evens attract some wealthy folks from other states. 

[Doc Brown]

4 minutes ago, Chef Jim said:

I find it hard to believe that a wealthy person is choosing to live in a high tax state because those high taxes are a federal tax deduction.  
 

Maybe blue states should come up with some tax incentives to get the wealthy people to want to stay and maybe evens attract some wealthy folks from other states. 

It's easy if you try.  Just another reason to leave a place you've lived your whole life to a warmer more tax friendly state.

[Westside]

6 hours ago, Doc Brown said:

It's easy if you try.  Just another reason to leave a place you've lived your whole life to a warmer more tax friendly state.

Do you think people should be punished for leaving a high tax rate blue state for a lower tax red state?

[ALF]

3 minutes ago, Westside said:

Do you think people should be punished for leaving a high tax rate blue state for a lower tax red state?

 

No , but no state income tax like Florida and Texas should pick up more of the cost of hurricane damage . The rest of the country subsidizes them plus all there military bases.