Republican Tax Increases Kicking In

#51
#51
Vol Main said:
Good idea, but let's stop the hypocritical moaning about Democrats raising taxes. Republicans raised taxes on the middle class while cutting taxes on the top bracket. Unless you have annual income of $400,000, Biden will not raise your income taxes. If you do make that much, then you can take your own advice, because historical economic data shows Democratic tax policies grow the economy faster than Republican tax policies.
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iu
 
#53
#53
n_huffhines said:
Wow
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Interesting. But I'll play. How do you define "poor", and at what point do they not have to pay? I'm sincere in the question and not digging at you. I think it is an important one, because apparently Xiden defines it as $400,000/year (yeah right) in income. What do you think should be the defining metric? And at what point is someone too poor to pay their fair share?
 
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#54
#54
Vol Main said:
Good idea, but let's stop the hypocritical moaning about Democrats raising taxes. Republicans raised taxes on the middle class while cutting taxes on the top bracket. Unless you have annual income of $400,000, Biden will not raise your income taxes. If you do make that much, then you can take your own advice, because historical economic data shows Democratic tax policies grow the economy faster than Republican tax policies.
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I made way more money under trump than I did Obama.


Your data is also flawed.

Previous posters already highlighted errors in your own link.
 
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#56
#56
n_huffhines said:
Wow
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My post was sarcasm to a point. Poor people do pay taxes like sales tax, but their income tax is almost always offset by a subsidy or some type of redistribution. They also benefit from the earned income tax credit which will often result in a tax return triple or even quadruple what they actually paid in income taxes.
A few years ago the observation was made that Exxon/Mobil paid more in taxes than 70% of the population combined. So yes, the “poor” should have a little more skin in the game.
 
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#57
#57
burntorangeVOLffle said:
So they could have reversed the permanence but chose corporations over individuals because they expected trickle-down to work this time. And that’s the Dems fault?
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You guys still can't figure out who actually pays corporate tax. Hint: it's not the corporation, and it's not the stockholder. Additional hint: Fuel, taxes, administration, management, travel .... are overhead. Prices have to increase to cover overhead. If you can't raise prices enough to cover overhead, the business goes to someone else - like the Chinese. High corporate taxes especially when you play the globalism game are a loser. If you can understand friction and how it affects a mechanical process, then apply business overhead to manufacturing as a parallel. The laws of physics always rule; you just have to understand how they apply.
 
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#59
#59
FLVOL_79 said:
Exactly.
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They absolutely should have skin in the tax game, but you also have to understand dims will increase the minimum wage and free entitlements (not the ones extorted from us) to cover the tax increase.
 
#60
#60
MG1968 said:
My post was sarcasm to a point. Poor people do pay taxes like sales tax, but their income tax is almost always offset by a subsidy or some type of redistribution. They also benefit from the earned income tax credit which will often result in a tax return triple or even quadruple what they actually paid in income taxes.
A few years ago the observation was made that Exxon/Mobil paid more in taxes than 70% of the population combined. So yes, the “poor” should have a little more skin in the game.
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Especially if they are voting for giving out more money.

It's easy to order the 100 dollar steak when someone else is paying. But you may settle for something less when it's your turn to cover the tab.
 
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#62
#62
AM64 said:
You guys still can't figure out who actually pays corporate tax. Hint: it's not the corporation, and it's not the stockholder. Additional hint: Fuel, taxes, administration, management, travel .... are overhead. Prices have to increase to cover overhead. If you can't raise prices enough to cover overhead, the business goes to someone else - like the Chinese. High corporate taxes especially when you play the globalism game are a loser. If you can understand friction and how it affects a mechanical process, then apply business overhead to manufacturing as a parallel. The laws of physics always rule; you just have to understand how they apply.
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We had the 2nd highest corporate tax rate, only ones higher were UAE and Venezuela.

Countries with the Highest & Lowest Corporate Tax Rates
 
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#63
#63
AM64 said:
You guys still can't figure out who actually pays corporate tax. Hint: it's not the corporation, and it's not the stockholder. Additional hint: Fuel, taxes, administration, management, travel .... are overhead. Prices have to increase to cover overhead. If you can't raise prices enough to cover overhead, the business goes to someone else - like the Chinese. High corporate taxes especially when you play the globalism game are a loser. If you can understand friction and how it affects a mechanical process, then apply business overhead to manufacturing as a parallel. The laws of physics always rule; you just have to understand how they apply.
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The only people who cannot understand this truth are those who choose not to.

Good post. AM64.
 
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#65
#65
#67
#67
Vol Main said:
"The former vice president has said a tax increase for those making less than $400,000 is not a part of his plan. In a joint interview with Harris, Biden told ABC News, 'I will raise taxes for anybody making over $400,000,' and anyone making less than that would face 'no new taxes'."
Fact check: Biden tax plan raises rates for those who make over $400K
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Talk is cheap and even moreso when it comes from politicians. Pricing his spending plans shows his limit is impossible. He's lying
 
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#68
#68
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#69
#69
#71
#71
AM64 said:
Yes. Book it.
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Are they going up because of republicans or because Biden can’t possibly pay for all of his proposed nonsense without raising taxes on what Dick Gephardt once called “winners of life’s lottery”, or anyone making above $70K/year?
 
#72
#72
MG1968 said:
Then what is the point of this thread? Are taxes going up or not?
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Of course but the sensitive dims here don’t care as long as everyone else pays more too. They’ll still take every credit and deduction when they file their taxes instead of contributing more to their messiahs.
 
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#75
#75
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