Your Hopes For The Next POTUS Joe Biden

#626
#626
utvolpj said:
So when Corp taxes are raised they pass those costs on to the owners and shareholders?
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"Passed along" is one way to put it.

There's less money in the coffers for distribution to the shareholders, so yeah - the higher taxes are "passed along..."
 
#627
#627
utvolpj said:
Hahaha

Really bad attempt there
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As someone who distributes less profit at the end of the fiscal year after taxes go up in order to capitalize the business, I can assure you - I know what I'm talking about. This isn't graduate level econ.
 
#628
#628
Septic said:
"Passed along" is one way to put it.

There's less money in the coffers for distribution to the shareholders, so yeah - the higher taxes are "passed along..."
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Only if those costs are not passed on to consumers. The likelihood of that happening is...?
 
#629
#629
Septic said:
As someone who distributes less profit at the end of the fiscal year after taxes go up in order to capitalize the business, I can assure you - I know what I'm talking about. This isn't graduate level econ.
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So you never account for those taxes in the long term? You're taking about a short term hit that is corrected once the rate is known
 
#630
#630
utvolpj said:
Only if those costs are not passed on to consumers. The likelihood of that happening is...?
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You'll have to account for a self defeating perpetual motion machine of higher prices resulting in higher income causing higher taxes forcing higher prices.
 
#631
#631
utvolpj said:
So you never account for those taxes in the long term? You're taking about a short term hit that is corrected once the rate is known
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What does that have to do with higher taxes depleting the same coffers used to pay undistributed profits? There's either more money in the bucket or there's less - generally speaking, less money means less distribution.
 
#632
#632
Septic said:
You'll have to account for the perpetual motion machine of a self defeating perpetual motion machine of higher prices resulting in higher income causing higher taxes forcing higher prices.
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So what you're saying is that taxes will go up on everyone because the democrats are raising the taxes on corporations that only pass taxes along to the wealthy.
 
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#633
#633
Septic said:
Is it a lie because you feel like it's not going to pan out the way they're selling it or is there a provision that I missed that says the middle class is going to get BF'd?
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If you remove tax cuts that doubled the standard deduction, you will increase the taxes of most Americans. That alone will impact the majority of people. Along with increasing the 12% tax bracket to 15% and all the other brackets above it (so anyone making over 10k after the standard deduction) rise too.

How could this not create a tax increase for the majority of Americans, especially those in lower tax brackets who were impacted most by the doubling of the standard deduction
 
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#634
#634
VolStrom said:
So what you're saying is that taxes will go up on everyone because the democrats are raising the taxes on corporations that only pass taxes along to the wealthy.
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No, I'd have to agree that businesses pass along "corporate" taxes to consumers as a means of staving off higher corporate taxes. I don't...
 
#635
#635
Vol8188 said:
If you remove tax cuts that doubled the standard deduction, you will increase the taxes of most Americans. That alone will impact the majority of people. Along with increasing the 12% tax bracket to 15% and all the other brackets above it (so anyone making over 10k after the standard deduction) rise too.

How could this not create a tax increase for the majority of Americans, especially those in lower tax brackets who were impacted most by the doubling of the standard deduction
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Mr. Biden promises that no household making less than $400,000 would pay more. Is he right?

He’s mostly right. The Biden campaign has said that it will adjust any of its plans to make sure that no household with income below $400,000 would pay more directly. His plans, as studied by outside analysts, generally meet that test.

But there are two main ways in which middle-income families could pay more. One is through Mr. Biden’s proposed reinstatement of the individual mandate to buy health insurance. The campaign, citing Trump administration language, describes that as a fee, not a tax. The payments are required by the tax code, and the Supreme Court has ruled that the penalty for failing to purchase health insurance is a tax.

Secondly, the corporate tax increases would indirectly affect households at all income levels. That’s because the burden of that tax is borne mostly by shareholders and, over the long run, by workers. So anyone owning stocks could be affected and eventually, companies may raise wages less than they otherwise would.

Is Biden proposing any tax cuts?

Yes. He would temporarily expand the child tax credit to $3,000 from $2,000 and add another $600 for children under age 6. That credit would also become fully refundable—so its full amount could go to households that don’t owe any income taxes. He is also proposing targeted tax incentives for caregivers, child-care expenses and first-time home buyers.

ast year, the campaign said Mr. Biden supported repealing the $10,000 cap on the state and local tax deduction, a move that would be a tax cut for high-income households, particularly in high-tax states such as New York and California. Recently, a campaign aide said Mr. Biden would work with Congress to address the issue.

Would Biden’s tax increases harm the economy?


Generally, economists think that higher taxes do lower economic growth, but they disagree about the magnitude of such changes.

The AEI study estimated that the Biden proposals would reduce gross domestic product by 0.16% over a decade.

How Joe Biden’s Tax Plan Could Affect You
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#636
#636
Septic said:
What are you basing this on?

What you think will happen and not at all based on what the Biden tax plan says?

Inserting a doomsday reality because it aligns with your disdain of a candidate doesn't make it true.

I agree with your last line.
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Bush said no new taxes.

This isn't a partisan comment by me. When a politician raises taxes they hit the middle class and upper middle class every time.
 
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#637
#637
Woo Hoo, more taxes are going to put more money in my wallet. How does anyone with a brain vote for that kind of crap?
 
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#638
#638
NEO said:
Bush said no new taxes.

This isn't a partisan comment by me. When a politician raises taxes they hit the middle class and upper middle class every time.
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That's a fair and reasonable position. The truth is, I'd love to see the R's maintain the Senate and thus hope these R's in GA pull out a win despite being nut hugging trumpkins. Gridlock in Washington is good, nothing ever good comes from one side holding all the cards.
 
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#639
#639
Septic said:
That's a fair and reasonable position. The truth is, I'd love to see the R's maintain the Senate and thus hope these R's in GA pull out a win despite being nut hugging trumpkins. Gridlock in Washington is good, nothing ever good comes from one side holding all the cards.
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It's sad that gridlock is the best possible outcome anymore and has been since Clinton.

I would take Clinton and Gingrich again in a heart beat. Last time our entire government ran remotely the way its intended.
 
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#640
#640

What your article says vs what Biden and Harris have said conflict. They have directly stated they would remove the trump tax cuts. That would without a doubt raise the taxes on almost all households making under 400k.

They could have specifically said “we will only remove x from the bill”. But that’s not what either has stated. They have said they would outright remove. Both have stated this and neither have clarified “but we won’t remove that”
 
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#641
#641
Septic said:
"Passed along" is one way to put it.

There's less money in the coffers for distribution to the shareholders, so yeah - the higher taxes are "passed along..."
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I’d argue the end consumers of whomever buys the corporations product or service ultimately pays. Much more so than owners and share holders. Corporate tax 101 pass it on to the next schmuck in line
 
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#645
#645
AM64 said:
That's proof that education can't fix stupid, but it can cost a lot to prove it.
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This whole loan forgiveness is about free college for everybody. If one was about to enroll and take on debt, what would one think?
 
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#646
#646
Orangeburst said:
This whole loan forgiveness is about free college for everybody. If one was about to enroll and take on debt, what would one think?
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Mixed messages are a problem. I personally think we should not make college free. A free education through HS is what makes us literate and functional. Beyond that it seems education should be considered the path to a career, and it sure seems like people tend to get more from something when they invest in it. Education inflation has driven the cost of college education and seemingly devalued the degrees awarded in the end. I don't see a good ending for degree creep, costs, or academic rigor if we make it free. We never expected in the past that everybody was academically suited for college level academics - to do so now would imply that we have to lower educational standards.
 
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#647
#647
AM64 said:
Mixed messages are a problem. I personally think we should not make college free. A free education through HS is what makes us literate and functional. Beyond that it seems education should be considered the path to a career, and it sure seems like people tend to get more from something when they invest in it. Education inflation has driven the cost of college education and seemingly devalued the degrees awarded in the end. I don't see a good ending for degree creep, costs, or academic rigor if we make it free. We never expected in the past that everybody was academically suited for college level academics - to do so now would imply that we have to lower educational standards.
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Wholeheartedly agree. Anything for free is worth nothing. or at the price of someone else. I culd get onboard with a vocational/apprenticeship program, merit based.

My eting capability has gone nutsy
 
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#649
#649
Orangeburst said:
Wholeheartedly agree. Anything for free is worth nothing. or at the price of someone else. I culd get onboard with a vocational/apprenticeship program, merit based.

My eting capability has gone nutsy
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Wait! You're doing this from a phone?
 
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