Joe Biden - 46th President of the United States


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wakjak
6 minutes ago, warwagon said:

When you tax the wealthy and the corporations, they aren't going to take the hit, they will pass it down the consumers and the price of everything goes up.

So how come the opposite isn't true then?

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Nick H.
40 minutes ago, warwagon said:

When you tax the wealthy and the corporations, they aren't going to take the hit, they will pass it down the consumers and the price of everything goes up.

This is an outdated train of thought. Prices rise because of inflation anyway - something the U.S. doesn't understand as evidenced by keeping minimum wage as low as it is - and there are plenty of other things that happen by taxing the rich, such as bringing the money back into the economy. The Financial Times has written an article about it, an opinion from MarketWatch and another article from Econofact, all of which are looking at the economy today and post-pandemic rather than back when Reagan was around.

 

 

And let's not forget that the proposed taxes on the rich by Biden are not as high as they have been in the past. Tax the rich.

 

EDIT: Oh, and here was something that someone else said the other day that put things into further perspective for me: asking a billionaire to pay a couple of million dollars is like asking someone with $100,000 to pay a couple of hundred dollars. It's peanuts from their hoard, it shouldn't phase them and won't impact them.

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neufuse
1 hour ago, warwagon said:

When you tax the wealthy and the corporations, they aren't going to take the hit, they will pass it down the consumers and the price of everything goes up.

that's what always happens, large corporations wont take a profit hit, they will increase prices to make up for it... never fails no mater how much they say they wont, they do in the end

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hagjohn
On 01/05/2021 at 09:23, warwagon said:

After the tax breaks the economy was great, the stock market was great, all until the human malware showed up. Had Covid not conveniently shown up I think Trump would had been reelected. 

 

Weren't' we told that the companies were going to hire workers with the Trump/GOP tax cuts for the rich/companies? That didn't happen. Most bought back stock or banked it. And who ends up paying more of a share of federal taxes? The middle class. Yet people still support these idiot policies.

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neufuse
1 hour ago, hagjohn said:

Weren't' we told that the companies were going to hire workers with the Trump/GOP tax cuts for the rich/companies? That didn't happen. Most bought back stock or banked it. And who ends up paying more of a share of federal taxes? The middle class. Yet people still support these idiot policies.

always for the profit with corporations, doesn't matter how, lower taxes? increase profits.. raise taxes? increase prices on products to increase profits... never the reverse in corporate world... but then that's kind of the whole point of public corporations.... profits

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Joe User
Posted (edited)
16 hours ago, Emn1ty said:

Yes, cause nobody benefited from the increased standard deduction amounts /s.

Thank you for proving that those in higher tax brackets got a better deal. 

 

 

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Emn1ty
Posted (edited)
11 hours ago, wakjak said:

Then do demonstrate how it is false instead of just saying so. 

 

"articles" is the new "sources say". 

Or maybe the person claiming that nobody at the bottom 10% income bracket benefited off of it should demonstrate that truthfulness of his statement? The standard deduction alone helped many people at the lower taxable income brackets. And yes, those are temporary until 2025 so it's definitely not a permanent benefit.

https://www.marketwatch.com/story/this-is-how-much-american-workers-saved-during-the-first-year-after-trumps-tax-reform-2020-03-03

Quote
  • The double-digit percentage decreases in average tax liability started with a 12.5% drop for people making $15,000 to $20,000 a year. Double-digit percentage reductions in liability continued for people making $25,000 to $30,000 (down 11.2%) through $100,000 to $200,000 (down 10.96%).
  • Taxpayers making between $40,000 and $50,000 a year had the largest fall in average tax liability, a 14.5% drop, while high-end households making between $250,000 and $500,000 had the second largest decrease, with a 14.4% liability reduction.
3 hours ago, Joe User said:

Thank you for proving that those in higher tax brackets got a better deal. 

You said nobody at <= 10% benefited. You said nothing about who got a better deal.

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+warwagon

"Anybody making less than $400,000 a year, will not pay a single penny in taxes." - Joe Biden

 

YES! Thanks Joe!

 

 

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Nick H.
6 minutes ago, warwagon said:

"Anybody making less than $400,000 a year, will not pay a single penny in taxes." - Joe Biden

 

YES! Thanks Joe!

*Tut* *tut* You know he misspoke. Even Fox Business understood that according to his tax plan he meant that anyone making less than $400,000 a year will not pay more than they already do.

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Emn1ty
On 07/05/2021 at 06:32, Nick H. said:

*Tut* *tut* You know he misspoke. Even Fox Business understood that according to his tax plan he meant that anyone making less than $400,000 a year will not pay more than they already do.

That's a much more reasonable number than I've seen historically from Democrats, who have often ignored high cost of living zones when making these kinds of general income gates. $200,000 sounds like a lot of money, until you look at the cost of living in New York, Seattle, San Francisco, Los Angeles, etc. It really should be based on cost of living rather than just a national average, but that would significantly complicate matters.

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ATLien_0

Being that Trump was such a ratings guy wonder how he feels about Bidens latest approval rating being so high...

 

Biden is getting.huge marks for his pandemic response. 

 

Now he just needs to get the border situation worked out 

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neufuse
9 minutes ago, ATLien_0 said:

Being that Trump was such a ratings guy wonder how he feels about Bidens latest approval rating being so high...

 

Biden is getting.huge marks for his pandemic response. 

 

Now he just needs to get the border situation worked out 

Trump would say "I had 100% approval within my party supporters, my ratings were better"

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