Who is prepared for the tax hike?

[98cwitr]

When did Biden "promise" to do that?

https://www.washingtonpost.com/business/2020/05/22/biden-taxes/

“Nobody making under $400,000 bucks would have their taxes raised. Period. Bingo,” Biden said in an interview on CNBC, the business news channel.

But if he dumps the Trump tax cuts, that turns out to be a lie; and we already know it.

 

[98cwitr]

The Trump tax cuts expire in 2025. We'll have another election before then.

He said he's going to eliminate them:

https://twitter.com/i/status/1311121766950096899

Long version with full context at 11:30:

 

[Lg2000]

"President Trump built in tax increases beginning in 2021, for nearly everyone but those at the very top."

Opinion | Republicans, Not Biden, Are About to Raise Your Taxes

Taxes was going up regardless. People say trump did such a great job with the economy but it was smoke and mirrors. Look at the deficit under trump and how it ballooned up. He said he was going to cut into the deficit but that was a lie.

 

[98cwitr]

President Trump built in tax increases beginning in 2021, for nearly everyone but those at the very top.

Taxes was going up regardless. People say trump did such a great job with the economy but it was smoke and mirrors. Look at the deficit under trump and how it ballooned up. He said he was going to cut in to the deficit but that was a lie.

Post your source for that claim please.

 

[gaara4158]

Bold of you to assume we’re all members of the .1% who make enough to be facing significant tax increases under Biden. Personally, my taxes skyrocketed under Trump by so much my tax bill ended up clearing out my entire savings. I had to adjust my exemptions and withholdings accordingly, and I expect under Biden to see a minimal increase in taxes while hopefully seeing much more in terms of federal benefits. But, as always, Republicans will run around like the world’s on fire now that the Democrats have the purse. Just relax while we make your life better. It’s going to be fine.

 

[essentialsaltes]

https://www.washingtonpost.com/business/2020/05/22/biden-taxes/

Joe Biden says he won’t raise taxes on anyone making under $400,000

Biden has been clear that he believes taxes should go up on the rich. He plans to roll back President Trump’s tax cuts on households making above the $400,000 threshold and on corporations.

That's exactly what I said.

 

[KCfromNC]

But if he dumps the Trump tax cuts, that turns out to be a lie; and we already know it.

Funny how quickly we've moved from confident claims to "if".

 

[GreekOrthodox]

Bold of you to assume we’re all members of the .1% who make enough to be facing significant tax increases under Biden. Personally, my taxes skyrocketed under Trump by so much my tax bill ended up clearing out my entire savings. I had to adjust my exemptions and withholdings accordingly, and I expect under Biden to see a minimal increase in taxes while hopefully seeing much more in terms of federal benefits. But, as always, Republicans will run around like the world’s on fire now that the Democrats have the purse. Just relax while we make your life better. It’s going to be fine.

I loathe the way politicians play the tax code game. We're going to lower the tax rate but eliminate deductions that people who depend on a W4 salary depend on. Their net tax results in higher taxes. But if you are in a class that the bulk of their income is from investments, property, or say sitting on a board of directors (cough, that .1%), their tax rates get cut even more. For example, the average compensation package for board directors on an S&P 500 firm was $2.17 million How Much Do Board Directors Get Paid? | Diligent Insights

 

[SummerMadness]

https://www.washingtonpost.com/business/2020/05/22/biden-taxes/



But if he dumps the Trump tax cuts, that turns out to be a lie; and we already know it.

And just like that, we see people talking about fiscal responsibility, deficits and taxes. For four years they've been silent. I would say welcome, but you never left, you just turned your head the other way.

 

[Sparagmos]

As with most GOP presidents, 146 million Americans have been able to enjoy a bit of relief the past 4 years of not having the fruits of their labor taken from them in as much as the previous administration. In my own personal case, it amounts to about $300/mo. Considering Biden promised to cancel the Trump tax cuts, and thus raise taxes on not just the wealthy, but the rest of us as well, are you making any financial changes or preparation in the losses that are to be expected from this incoming administration?

I’m not nearly rich enough to see a tax raise under Biden. I’d be happy to pay more to pay down our debt. I took a voluntary pay cut this year to help my organization survive and I see my county the same way - those of us who can afford to contribute more, should.

 

[SummerMadness]

I’m not nearly rich enough to see a tax raise under Biden. I’d be happy to pay more to pay down our debt. I took a voluntary pay cut this year to help my organization survive and I see my county the same way - those of us who can afford to contribute more, should.

We need to abandon this, "I got mine," attitude seen in so much of the GOP. We need to work together and sacrifice for the good of the country.

 

[Sparagmos]

He said he's going to eliminate them:

https://twitter.com/i/status/1311121766950096899

Long version with full context at 11:30:

As a big fan of Rev. Barbur and the Poor People’s Campaign, I gotta say thanks for sharing!

 

[ToddNotTodd]

We need to abandon this, "I got mine," attitude seen in so much of the GOP. We need to work together and sacrifice for the good of the country.

Why... that sounds like...

COMMUNISM!!!!

 

[Guinan]

We need to abandon this, "I got mine," attitude seen in so much of the GOP. We need to work together and sacrifice for the good of the country.

Amen, my friend. We are Americans first, then we are Republicans or Democrats or Independents. As Americans, we need to work together, despite our political affiliation, and help our country heal.

 

[98cwitr]

We need to abandon this, "I got mine," attitude seen in so much of the GOP. We need to work together and sacrifice for the good of the country.

When 146M Americans are taxed to keep the poor in systemic poverty, that's not any "good" that I'm wanting to see us pay for.

 

[Vylo]

When 146M Americans are taxed to keep the poor in systemic poverty, that's not any "good" that I'm wanting to see us pay for.

That's not how any of this works.

 

[98cwitr]

That's not how any of this works.

Maybe not for every case, but I've got too many personal acquaintances/neighbors proving that's exactly how it is for many.

 

[Vylo]

Maybe not for every case, but I've got too many personal acquaintances/neighbors proving that's exactly how it is for many.

No one you know is taxed to keep the poor in systemic poverty. They most likely poor due to not having a valuable skillset and/or connections that will allow them better employment. Not all of this is their fault, and maintaining a valuable skillset is becoming increasingly hard. There is also the gutting of services and programs that would help them out of poverty, which is done primarily at the benefit of the wealthy.

 

[98cwitr]

No one you know is taxed to keep the poor in systemic poverty. They most likely poor due to not having a valuable skillset and/or connections that will allow them better employment. Not all of this is their fault, and maintaining a valuable skillset is becoming increasingly hard. There is also the gutting of services and programs that would help them out of poverty, which is done primarily at the benefit of the wealthy.

I'm going to delve into this further when I'm off kid duty, but I must ask, how many people do you personally know that is on welfare assistance of some sort and has been for 2 years or more?

 

[Lg2000]

I'm going to delve into this further when I'm off kid duty, but I must ask, how many people do you personally know that is on welfare assistance of some sort and has been for 2 years or more?

I was on welfare for years , had alot of health issues where doctors signed paper work that I couldn't work , so I was exempt otherwise I would have to work or go to workshops otherwise they would cut me off . If you are over 18 you have to show proof you look for jobs and even then there is a 48 month max limit .
. They really don't give you that much . I wouldn't have been able to make it without family help.
You have to prove you looking for a job or they get you jobs.
My brother is a homeless drug addict and he got no actual money but 130 of food a month and he had to prove he was looking for jobs , go to job workshops that are mandatory .

I got 700 for a family of 3 and 500 of food assistance .
Medicare also but that's it. You really aren't living the highlife contrary to your beliefs that people on assistance are living it up.
Both of my sister's also work for the department of social services . The welfare queen is a lie .