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

[chiefwiggum]

It's a tax on income after business expenses. I work for a small construction company, workmen comp, liability, pay roll tax, it's all figured into the bid, not extra tax out of the owners pocket like you're portraying it. You're cool with what people like Bezos and Trump pay in taxes?

no those guys are billionaires. I don’t trust Biden’s tax brackets and percentages just from his own words over the years.

 

[Seano]

May as well suddenly raise minimum wage 25% too.

 

[MichiganMMA1978]

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?

No bruh...
It makes you a literal Nazi..... Or something...

 

[MichiganMMA1978]

Would rather be left with 400,000 minus 28 percent or 40,000 minus 28 percent? Who is effected more?

Neither, they are obviously effected the same. Both give 28% to uncle sam

 

[chiefwiggum]

May as well suddenly raise minimum wage 25% too.

Obviously high school kids who are just entering the workforce should make a living wage.

I have never met an adult who has ever worked for minimum wage in my life. There is barely any jobs at minimum wage.

 

[llperez22]

while joe says he isnt raising taxes on every day americans, he did say he will eliminate trumps tax cuts which last i checked, 88% of americans benefitted from. If thats the case, saying i wont raise your taxes is just slimy semantics. Will my taxes go up or not? if yes, then fuck you.

 

[Sarge3000]

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

Biden's tax plan doesn't tax the poor less. It taxes the rich and corporations more.
The rich I agree with somewhat, the corporations I find problematic because a large part of why trump boosted the economy was by lowering their taxes. Increase taxation and many just delocalise and/or fire employees.

On a fiscal basis the plan is good because American debt is horrendous but jobs and prosperity wise I'm not positive it's going to be good esp during covid times.

 

[chardog]

So, no surprises for the working class in all of Biden's tax plan eh?

I'm sure they'll be making excuses that trumps tax cuts expired or something something. It's not very difficult for me to look up my taxes and see if I'm being hosed more or less the coming year.

 

[High Altitude]

Obviously high school kids who are just entering the workforce should make a living wage.

I have never met an adult who has ever worked for minimum wage in my life. There is barely any jobs at minimum wage.

One of my kids hasn't even finished college yet and is making $18/hr at her part time job.

If as an adult, all you are making is minimum wage, you need to try harder. The opportunities are out there if you want it.

 

[nostradumbass]

May as well suddenly raise minimum wage 25% too.

Minimum wage is $400k now.

 

[chiefwiggum]

One of my kids hasn't even finished college yet and is making $18/hr at her part time job.

If as an adult, all you are making is minimum wage, you need to try harder. The opportunities are out there if you want it.

my first sentence of what you quoted was sarcasm by the way.
And yes. I agree with you.

that’s really good for a part time job. Especially depending on where you live.

 

[panamaican]

while joe says he isnt raising taxes on every day americans, he did say he will eliminate trumps tax cuts which last i checked, 88% of americans benefitted from. If thats the case, saying i wont raise your taxes is just slimy semantics. Will my taxes go up or not? if yes, then fuck you.

Listen, Trump's tax cuts had sunset provisions in them. They are going to expire anyway.

So whether Joe does something or not, your taxes are going to go up. I'm assuming your "fuck you" is now directed at Trump?

 

[panamaican]

I'm sure they'll be making excuses that trumps tax cuts expired or something something. It's not very difficult for me to look up my taxes and see if I'm being hosed more or less the coming year.

But Trump's tax cuts do expire. That's written into bill itself.

 

[mrbaapt]

Biden's tax plan doesn't tax the poor less. It taxes the rich and corporations more.
The rich I agree with somewhat, the corporations I find problematic because a large part of why trump boosted the economy was by lowering their taxes. Increase taxation and many just delocalise and/or fire employees.

On a fiscal basis the plan is good because American debt is horrendous but jobs and prosperity wise I'm not positive it's going to be good esp during covid times.

At this point not increasing is all we can get.

 

[Seano]

If as an adult, all you are making is minimum wage, you need to try harder.

I think you are overestimating the average progressive. They don't understand a phrase like "try harder."

 

[AndroidRage]

Would rather be left with 400,000 minus 28 percent or 40,000 minus 28 percent? Who is effected more?

Not fair asking a Repubtard that. Math is hard ..... for them.

 

[forum poster]

But that effects 99% of us in the War room who make a minimum 1 million a year, (Whilst also being 6'4 with rock hard abs and chiseled jawlines).

 

[Lubaolong]

No, it doesn't raises taxes on anyone. It changes the deductions available to people who use that specific deduction but their base tax rates aren't changing.

If he eliminates tax deductions and people end up paying more money in taxes, then that is increasing people’s taxes, even if the base rates remain the same. It’s just semantics. He’s increasing the amount of taxes people will be paying.

 

[Lubaolong]

Listen, Trump's tax cuts had sunset provisions in them. They are going to expire anyway.

So whether Joe does something or not, your taxes are going to go up. I'm assuming your "fuck you" is now directed at Trump?

That’s assuming that Trumps tax cuts wouldn’t have been extended.

 

[PHATV]

But that effects 99% of us in the War room who make a minimum 1 million a year, (Whilst also being 6'4 with rock hard abs and chiseled jawlines).

Tweak it with some BMI info and a reference to fast-twitch muscles and run with it. Nobody can stop you, "average" shertard!