Economy Biden's tax plan doesn't change anything for those under 400K

[mrbaapt]

https://www.investopedia.com/explaining-biden-s-tax-plan-5080766

"Higher taxes on corporations and the wealthy, no increase under $400k"

 

[Misfit23]

A republican held senate will never let that pass. It's a pipe dream like the wall.

 

[ultramanhyata]

Higher taxes on corporations and the wealthy

 

[Benjamin Burton]

A republican held senate will never let that pass. It's a pipe dream like the wall.

Both georgia seats are going to a runoff so it's not entirely impossible.

 

[Staph infection]

Yep, it doesn’t change a thing at all because the wealthy and corporations are going to eat those increased taxes. They will not pass those costs down to the consumers and poor folks.

 

[Diogenes of Sinope]

A republican held senate will never let that pass. .

good

 

[The Big Bang]

Kill it with fire...... damn.

 

[mrbaapt]

Yep, it doesn’t change a thing at all because the wealthy and corporations are going to eat those increased taxes. They will not pass those costs down to the consumers and poor folks.

They never do.

 

[Cooz]

https://www.investopedia.com/explaining-biden-s-tax-plan-5080766

"Higher taxes on corporations and the wealthy, no increase under $400k"

But now there'll be less to trickle down to me.

KEEP COUNTING!

 

[mrbaapt]

But now there'll be less to trickle down to me.

KEEP COUNTING!

It has never been trickled down. Tax the poor less is the only effective way to mitigate income disparity.

 

[Holic]

And you can keep your doctor

 

[Fugazy]

Hopefully. We will see.

Hey, I wanted Trump to win but I’m hoping for the best out of Biden.

Does that make me a wizard?

 

[nostradumbass]

What's Biden's exact presidential salary again?

 

[High Altitude]

If it passes, it is going to be some sleight of hand, smoke and mirrors legislation where we tax them more in the left hand, but give them 10 times more back in the right hand, and then tell the public how much we care about the little people.

 

[wonderbread]

If I pay 30% income tax.. fucking everyone should.

 

[Trotsky]

Yep, it doesn’t change a thing at all because the wealthy and corporations are going to eat those increased taxes. They will not pass those costs down to the consumers and poor folks.

How exactly do you think that raising personal income taxes on wealthy taxpayers will "pass those costs down to the consumers and poor folks."

In the case of corporate tax hikes, you at least have a theoretical point even if you may not have an actual point. In the case of personal income taxes, it makes no sense.

 

[mrbaapt]

Hopefully. We will see.

Hey, I wanted Trump to win but I’m hoping for the best out of Biden.

Does that make me a wizard?

It makes you reasonable.

 

[Clifford_Harris]

What's Biden's exact presidential salary again?

Pales in comparison to what his 10% of his crackhead is going to be bringing in with being the son of the President.

 

[panamaican]

Isn't that what he said? That he was going to raise taxes on the wealthy, not that he was going to cut taxes for anyone else.

Also, don't worry - Trump's tax cuts for the lowest earners were only temporary (they phase out by 2027) so those lower income people will get a tax increase anyway. In fact, if Joe does nothing, the poor will see their taxes go up every other year while the rich and the corporations will have no change at all.

 

[KAZSoliloquy]

not a smidge of stubble on that man. men who can't grow facial hair should be thrown out of office