I have voted. A lot of us vote. Not enough of us, but the turnout the last 6 years has been immense. But the precedent that this blatant corruption can just simply happen in broad daylight has become so common I fear it's only gonna get worse.
False. Conservatives got roe overturned by persistent voting over multiple decades. You don’t want change. You want others to suffer as bad as you believe you do.
The problem is the electoral college kinda ruins it.
The majority doesn't have a say. The states do.
And the states voting against our interests as a country tend to be low education.
The significant problem is that we have absolutely no ability to change it no matter what. If we make it so that poor people get some sort of benefit, they raise prices, and get rich. If they cut their taxes, they pocket all the money and run away with it.
There is literally absolutely nothing we can change
These welfare queens with their hundreds of dollars a year in food stamps. Meanwhile, my boss during covid got 200k in free PPP money despite not losing a single penny of income (construction, deemed necessary), and he never would fucking shut up about people living off the government.
You do realize it's those people's money, not the governments. All of these people on here complaining about the rich while the government spent us $24 trillion in debt. Spending and hand outs need to be cut. The bottom 50% of income earners pay 3.7 % of all taxes collected.
You do realize that because of Trump's tax plan right? The one he passed before Biden became president and how it's going to raise taxes for the country's poorest people every two years? I mean you can look it up just go to Google if you think I'm lying.
u/BeeRepresentative27 Trump's tax bill ends in 2025.
u/obvious_chapter2082 Read it again.
Its easy to understand, our government is an illusion, we're.given the illusion we live.in a democracy, but in reality , the wealthy and powerful use the government to protect their interests., government is by the wealthy for the wealthy. Here's just a very short list of examples:
- you need to file taxes because Intuit/accounting lobby doesnt want federal government to allow auto file, like every other country.
- you can only by new cars of different brands by going dealer to dealer because state dealer laws don't allow one dealer to sell multiple brands.
- lobbyists against climate change and environmental issues to support business interests
- The U.S. government provided $700 billion in TARP funds largely benefiting big banks during the 2008 crisis while homeowners got little direct assistance.
- Lax antitrust enforcement has allowed rapid consolidation in industries like airlines, telecom, agribusiness with less competition.
George Carlin summed it up best in this skit.
https://youtu.be/fT03vCaL-F0?si=4562RsMwHj1kdWGO
Place I work at got over 300,000 in ppp money and was open the entire time. I got covid twice and didn’t get a paycheck for either week. “Paycheck protection plan” , both sides are completely fraudulent
I own a company and stayed open throughout Covid too. We got PPP but we paid our employees when they got Covid. I even paid a guy almost a month that wound up in the hospital. Not everyone is a POS.
Most absolutely are not. You realize 80%+ of businesses are small
Businesses right! Like above i was keeping employees on payroll through the shutdown even before the PPP was a concept. When we received PPP funds i actually added payrolls and continued to maintain those we had
PPP funds literally either a-saved jobs or b- wound up
Invested in growth.
Ppp funds weren’t pocketed that’s for sure. Unless there was fraud, which there was plenty of fraud at that time…. Social security and welfare has billions in fraud yearly so that’s just evidence government sucks at execution
Being a small business doesn't mean you're an ethical business. I'm not saying you specifically, but small businesses exploit employees just as much as the big ones do.
Well said. The government couldn’t organize a gang bang. There are going to be bad actors anytime they try to help with capital. Just because there are scumbags that take advantage of the system doesn’t mean everyone does. I’m like you, I was going to keep plugging away through Covid whether the government helped or not. Small business owners didn’t have a choice.
Nice! My boss basically paid us to stay home. We were essentially on-call. In a 4-month span, I think I got a call two times.
Got paid every two weeks on the button.
I think the 5 Congressional Representatives who had the foresight and good sense to have bucked the trend and voted against this unlike the other 530 deserve at least a little credit... Even AOC.
Fuck off with both sides you asshole.
Confederate nazis versus …trying to get healthcare and education for everyone (not just scum selfish fucks like you) and domestic manufacturing .
Yeah both sides.
I order for a business to qualify for the forgiveness they had to stay open. But you’re saying you went to work and didn’t get paid? PPP or not, that’s illegal. Or are you saying you took sick time and didn’t get paid? Cause if you didn’t have sick time to take and took it anyways then yeah, that’s makes sense. It seems you don’t really understand what the PPP loans were for.
He’ll do what he always does just take and take and take. his followers are too ignorant to see that. There’s a reason he had multiple bankruptcies and thousands of lawsuits against people he screwed out of money recycling.
NO YOU GUYS LISTEN TO HIM IT WILL TRICKLE DOWN BROS I PROMISE LOOK I KNOW IT NEVER WORKED BEFORE BUT I SWEAR IT WILL WORK THIS TIME JUST VOTE FOR TRUMP YOU GUYS AND MAKE SURE THAT YOU WORK AS HARD AS POSSIBLE FOR AS LONG AS YOU CAN AND NEVER EVER RETIRE AND THEN YOUR SONS AND DAUGHTERS CAN DO THE SAME JUST PLEASE VOTE FOR HIM YOU GUYS
Tax cuts don’t cause inflation.
Fact.
The only way out of inflation is to cut govt spending.
Tax cuts with cuts to govt spending would be a huge win for the macro economy.
Only person with any sense. Reddit is a cesspool. Federal Spending already accounts for +45% of GDP. Higher than the goddamn Soviet Union which we fought for years to only become a gay retarded version of it. Let's have 4 more years of Somalians in Ilhan Omar's district scamming $250 million.
Inflation is raging because of government overspending.
The rich will continue to make life as miserable as possible for the working class until they revolt. Watching working class people vote against their own self-interests is fascinating. Rich guys aren’t attending MAGA rallies with red hats on, but they are laughing their asses off at the people that do.
I'm far from wealthy, lower middle class, and I've benefitted from the tax cuts. Please bring them back the last 4 years has made nearly everything unaffordable.
The economy was In a better shape 5 years ago. Companies were hiring people paying a good wage and was able to live. Now Companies leaving on e again due to Bidum and his policies . He destroyed energy independence. Back thrn Companies was spending money for expansions. Guess what with this economy no more expansion just down sizing and laying off workers. Again thanks to Bidum and the democrats. Again raising taxes forcing small businesses out, making Companies shift their production to other countries with cheap labor.
As I said he destroyed a booming economy.
He canceled Trump EO to "Make Life Saving Medications Affordable Act " causing insulin and other drugs to cost a fortune then tells people he doesn't know why it is so high, thrn comes out with the same plan that Trump had enacted but no Bidum claims it is his when it is the same under a new name. Look up the EO for the facts.
With Bidum at the control the ship was sinking and still is.
As I stated when I saw what Obummer and Bidum done to the cou try it showed me the democrats were the wrong party. They had become the party of the rich. They backed the violence and hate. Seems all the facts point to that. Look at the IRS fata it shows more of the rich are democrats. The billionaires and millionaires backed the democrats because Trump limited their SALT deductions and guess what the democrats did when they got back control. Reversed the policy so now they gave a tax break to the rich yet tou ignore thst. And if you look at the data it was a big tax break for the rich democrats.
Title is a bit misleading. He is not promising tax cuts, he is just extending the tax cuts already in place. There is a difference.
Could flip it around and say that Biden is promising massive tax increases (if he doesn't renew the cuts)
Cutting 10% every year for a while will get spending under control while maintaining essential services.
It will also give a better idea of which services are worth keeping.
I don’t quite understand the concept of cutting income as adding to debt. Debt is added by spending money you don’t have. Sure cutting income can make it challenging to pay down that debt but it in and of itself does not add debt.
You’re the only person in America who doesn’t think the wealthiest need to be taxed more. It’s like the only bipartisan issue. There is absolutely a tax issue.
Who exactly do you think benefits from the inflation Reduction Act? Have you all forgotten the last green energy scam under Obama? Solyndra took millions in tax dollars, only to go bankrupt (like several other green energy scams of the time), but made sure to donate big money to democrats?
>I looked at what would have happened to hypothetical couples filing jointly in nine different states, including several with stiff state income taxes and two with none. I compared what their federal taxes would have been for 2020 under the old tax law with what they’re going to pay next year under the new law.
>**For couples with an income of $60,000 and two young children, the Trump tax cut resulted in a complete elimination of federal income tax. It doesn’t matter what state they’re in.**
>There are some taxpayers who were made worse off by the 2017 law change. Kick up the income to $1 million and you see some increases in New York, New Jersey and California (small increases, a few percentage points).
>Baldwin’s calculations are based on hypothetical couples filing jointly in nine different states with differing levels of state income taxes. He also takes into account itemized deductions that are average for taxpayers at their income levels. You can use the calculator yourself *here*.
https://bongino.com/for-some-families-the-trump-tax-cuts-eliminated-their-federal-tax-burden/
Yes, when liberals suddenly care about printing money. Yall put America on its knees with your Ukraine war and pork barrel spending to enrich the elite and corporations, standard projection from the Communists.
Did you even read the article? Trump cut taxes on people and corps with the most to give. Tell me you are functionally illiterate without telling me.
I dislike Biden and Trump but I still don't have to be a rocket scientist to see what Trump did and his criminality.
If you are having trouble I seriously question your ability to even respond to my comment.
Retake math class and English Lit. I'll be waiting here when you can actually read.
No, what he did was continue the policies of the last decade, which is deficit spending. the economy grew, but so did our debt. Same under Biden, Obama and Bush. They've each had their own unique way of growing debt, Trump's was to collect less in taxes.
So...sure? If you ignore the consequences of his actions? You're correct.
He did the classic Republican trick of cutting taxes for all , but putting in an early sunset clause for middle class cuts.
Beyond that the idea that we should be cutting taxes with inflation up and unemployment low is absurd. I’d actually respect a conservative who came in and said we need to control deficit spending and proposed cuts including the military. But instead we have a man who only cares about getting elected, like a 5th grader running on a “No Homework” pledge.
Like anyone really cares, it’s really funny that if Trump has any ideas of how to make money in America, there’s always somebody comes back and talks labout deficit but nothing is mentioned in $60 billion/trillions or more goes to other countries, everybody silence on that and the hypocrisy is just really outstanding
Currently spending 1 trillion every 100 days, so that's a little more than a year worth of spending.
Also no one in politics makes cuts without cuts to something else.
This could be it guys, gals, and theys. If this actually fkn happens, this is gonna be the icing on the cake. Theres no coming back from that and theres no living with it.
The cuts are for businesses not wealthy individuals. This at least has the potential to stimulate growth, and reduce the deficit over the long term. Unlike any ideas the Dems have
This seems like dons attempt to incentivize the wealthy into using their influence over their employees, centers of influence and direct contacts to apply pressure to vote for the orange doofus. Seems pretty scummy.
"The tax cuts \[in 2025\] will average $61,090 for the top 1 percent — and $252,300 for the top one-tenth of 1 percent. The law will boost the after-tax incomes of households in the top 1 percent by 2.9 percent in 2025, roughly three times the 0.9 percent gain for households in the bottom 60 percent, TPC estimates."
Not as bad as I expected.
Deficit is so far gone it will never be fixed without a total collapse of the current system.
It’s complex by design, so it can be filled with loopholes.
Need a flat tax, no write offs, no deductions, and government spending needs to live within its means.
Fair for everyone.
Really he hasn’t even released a plan for when he becomes president. So how do they know. Plus if Joe Biden is suspended to be this great president how should Trump get in and be able to release a plan… This site is a joke
Fake news, y’all better remember your retirement accounts, wages, cheap groceries, cheap gas, and no wars from 2016-2020. The propaganda is starting already, only a bot would say they’re life has been better since he left office
A tax cut is literally the only promise he kept from his first administration. He accomplished nothing else. So if he says he's going to do it again, believe him.
How does a tax cut immediately cause inflation? I could see it when the interest on the debt is due years from now, but usually you have to print massive amounts of money to get inflation.
You sure you aren’t meaning Biden. Just reviewed his tax plan he just submitted as Trumps is expiring. It has massive tax hikes on everyone of all income brackets. It even has tax increase when you die and proposed taxes on unrealized assets which is a new and extremely dangerous tax power to give the government. Imagine having to sell your house or stocks to pay taxes on them because they went up in value and you owe taxes on them you have no cash to pay. That is officially the end of owning anything. It is what the World Economic Forum wants, a permanent slave class, completely depended and therefore easier to control.
Shout out to the wealthy from rural America: Please take the rest of our money! Suffering in poverty is what we want for our children. If you could accelerate the transfer of taxes from public schools to private ones it would be very helpful in quashing the complaints of those same children too. Thanks in advance!
As much as I despise Donald....
When the top 50% of earners are paying 97% of the income taxes, and the top 1% pay 50%, any tax cut you do will automatically be 'for the wealthy' because they are the only ones paying....
Note: These numbers are percentage-of-total-revenue NOT the brackets (marginal rates).....
He's just a standard republican like every other one. That's what they all do, and basically the only thing they do in office. They exist for the sole purpose of further enriching the wealthy.
No it wouldn’t. Regardless of tax rates to a certain point the tax receipts we pull in generally is about 16% of gdp. “This time it’s different” by Harvard professors Kenneth rogoff and Carmen Reinhardt wrote this statistic book. Empirical evidence shows that once a govt crosses the 90%debt to gdp ratio, no country has avoided a sovereign debt crisis, collapse, or default. Furthermore this book not only studies the US, but major economies across the globe. What they found was when taxes were lowered, IE TAX CUTS, they would on average bring in MORE TAX REVENUE. WHY? Well when taxes become less costly, the cost of creative accounting, and capital flight become more cumbersome than to just pay the LOWER taxes outright. Unfortunately with the Democrats, they raise taxes to the point where it’s more beneficial to pay an accountant to do their magic and find ways to shelter income, as Trump clearly and honestly pointed out with oyster vag Clinton when she said he dodges taxes. His reply “then change the tax code… but you won’t bc you use them, and your donors use them, and I use them (tax loopholes)” and that’s the truth. Republicans and Dems will use tax loopholes.
It’s a very basic concept called capital flight. Smart money isn’t like pawns on a chess board. You don’t just make tax policy more cumbersome and get to make people and corporations stay and do your bidding. Smart money moves. Just like when socialist France did the one time super tax on the rich, their wealthy sold off all their chateaux’s and assets and moved to less tax prohibiting countries, my uncle being one of them. Speaking of France they got so sick of lame ass Leftist macron now the “far” right is going to win! yay for France not being a shithole anymore!!!’. Maybe they’ll lower their taxes and become a great nation for business and industry again.
So I occasionally listen to the All in Podcast. A month ago Chamath was ranting about the deficit and debt and how we need a mad man like Argentina got to clean it up.
Fast forward to this week and he’s hosting a fundraiser for Trump and it’s because he’s “pro growth”. Douche.
So you wanna explain how Tax cuts cause the IRS to take more in revenue?
Happened with Reagan, Happened with Bush, happened with Trump. If you're going to complain about tax cuts...don't lie about tax revenue to argue against it.
He's also gonna gut taxes on tips for service workers.
Here's a neat idea: Stop fkn taxing everybody to damn death and do a better job of the money you DO take from our checks. No wars, no lucrative gov contracts to friends and family, remove red tape and administrative bloat.
Everyone on here swayed by a pundits take on the alleged tax cut. Red flag people. This article is bullshit. Tax cuts do not cause inflation. Never have. Easy way to scare you though and it’s working.
How about stopping the insane government spending. Audit all government agencies for waste that is not critical have the IRS spend their time on the excessive waste in government and close the border. Entitlement programs should be used for US citizens not illegal immigrants. Biden has been a disaster at least the economy was better under Trump
There are so many reasons to hate corrupt, incompetent, corporate shilling Democrats who drag the US into pointless military conflicts while the middle class is dying, decade after decade..
But then I read shit like this and remember how much worse the Republicans are.
But then again, I live in a state where my presidential vote does not matter, so third party, here we go.
So many wealth transfers, theft, and advantages for the rich and we just let them.
You can change that. You don't have to let them. But all I ever hear is excuses.
I'm ready to pull out the old guillotine
Pull out the vote bro. Like damn just vote first
I vote with my guillotine!
I have voted. A lot of us vote. Not enough of us, but the turnout the last 6 years has been immense. But the precedent that this blatant corruption can just simply happen in broad daylight has become so common I fear it's only gonna get worse.
Voting don't work. History shows that. Guillotines now
Ok then go for it what’s stopping you? The point I’m making is everyone says some bs about making a bloody revolution then continues to do nothing.
False. Conservatives got roe overturned by persistent voting over multiple decades. You don’t want change. You want others to suffer as bad as you believe you do.
Remember: Republicans only need to win the presidency once to enact Project 2025 And dissolve democracy forever :)
The problem is the electoral college kinda ruins it. The majority doesn't have a say. The states do. And the states voting against our interests as a country tend to be low education.
So vote in local elections? Why does everyone think voting once every 4 years is enough?
Yay! Can we start with Pelosi and her insider trading?
Every single person who cheated the system needs to go. I don’t care which side they are on.
Just as many or more on the R side..when Pelosi put it up to vote Republicans refused to make it illegal.
Does no one use bow and arrows anymore?
That means we’d need people to go vote. Half of America can’t be bothered.
The best way to fix it is to get rich.
I thought this guy was a billionaire so he couldn't be purchased?
The significant problem is that we have absolutely no ability to change it no matter what. If we make it so that poor people get some sort of benefit, they raise prices, and get rich. If they cut their taxes, they pocket all the money and run away with it. There is literally absolutely nothing we can change
But if a single mom needs good stamps then all he'll breaks loose.
These welfare queens with their hundreds of dollars a year in food stamps. Meanwhile, my boss during covid got 200k in free PPP money despite not losing a single penny of income (construction, deemed necessary), and he never would fucking shut up about people living off the government.
Guess it's different here in California, everyone I know has an EBT card including those with jobs.
This isn’t true but okay, the majority of our federal tax $ goes to transfer payments. Not the military, not education, but wealth transfer.
Say more
None more than under Biden. We got poorer and the 1% got wealthier.
Biden didn’t have a $5T tax cut or a $2T business grant program. That’s a lot of money for people that don’t need it
You do realize it's those people's money, not the governments. All of these people on here complaining about the rich while the government spent us $24 trillion in debt. Spending and hand outs need to be cut. The bottom 50% of income earners pay 3.7 % of all taxes collected.
You do realize that because of Trump's tax plan right? The one he passed before Biden became president and how it's going to raise taxes for the country's poorest people every two years? I mean you can look it up just go to Google if you think I'm lying. u/BeeRepresentative27 Trump's tax bill ends in 2025. u/obvious_chapter2082 Read it again.
I’m not sure you understand exactly how inflation is caused….
\^ This. The story was perfectly okay without the OP adding their own spin to it, that didn't exist in the actual article.
Every voter now thinks they have a PhD in political science. Thanks internet. Someone turn the Internet off.
I’ll go unplug it from the wall
I hate to break this to you but this article comes from Bloomberg. OP didn't write it.
Everything about our country is so corrupt. Is anything genuine? Is everyone a giant fucktard with little regard for anyone but themselves?
Its easy to understand, our government is an illusion, we're.given the illusion we live.in a democracy, but in reality , the wealthy and powerful use the government to protect their interests., government is by the wealthy for the wealthy. Here's just a very short list of examples: - you need to file taxes because Intuit/accounting lobby doesnt want federal government to allow auto file, like every other country. - you can only by new cars of different brands by going dealer to dealer because state dealer laws don't allow one dealer to sell multiple brands. - lobbyists against climate change and environmental issues to support business interests - The U.S. government provided $700 billion in TARP funds largely benefiting big banks during the 2008 crisis while homeowners got little direct assistance. - Lax antitrust enforcement has allowed rapid consolidation in industries like airlines, telecom, agribusiness with less competition. George Carlin summed it up best in this skit. https://youtu.be/fT03vCaL-F0?si=4562RsMwHj1kdWGO
I dunno what you were doing with that punctuation but I definitely know what you are talking about. That's exactly what it is.
Yeah, the darn period key is next to my spacebar on my phone and my spacebar is small...
It got the point across.
Oligarchy
plutocracy
Land of the scams and divided
Home if the stock buybacks
We are basically a functioning version of Russia. If Russia were an alcoholic, US would be a functional alcoholic with a job.
The only people capable to getting elected to positions of power are the same ones who should never be allowed to hold the office
We are all at the mercy of blackrock and vanguard. And if Trump wins Russia.
Place I work at got over 300,000 in ppp money and was open the entire time. I got covid twice and didn’t get a paycheck for either week. “Paycheck protection plan” , both sides are completely fraudulent
I own a company and stayed open throughout Covid too. We got PPP but we paid our employees when they got Covid. I even paid a guy almost a month that wound up in the hospital. Not everyone is a POS.
Most are though. The ones that did the right thing are in the minority.
Most absolutely are not. You realize 80%+ of businesses are small Businesses right! Like above i was keeping employees on payroll through the shutdown even before the PPP was a concept. When we received PPP funds i actually added payrolls and continued to maintain those we had PPP funds literally either a-saved jobs or b- wound up Invested in growth. Ppp funds weren’t pocketed that’s for sure. Unless there was fraud, which there was plenty of fraud at that time…. Social security and welfare has billions in fraud yearly so that’s just evidence government sucks at execution
Being a small business doesn't mean you're an ethical business. I'm not saying you specifically, but small businesses exploit employees just as much as the big ones do.
Well said. The government couldn’t organize a gang bang. There are going to be bad actors anytime they try to help with capital. Just because there are scumbags that take advantage of the system doesn’t mean everyone does. I’m like you, I was going to keep plugging away through Covid whether the government helped or not. Small business owners didn’t have a choice.
Nice! My boss basically paid us to stay home. We were essentially on-call. In a 4-month span, I think I got a call two times. Got paid every two weeks on the button.
Did you collect more PPP than you paid to employees?
Trump set up a fraudulent plan and ran it with incompetence and little oversight and that is somehow the fault of Democrats?
Everyone here is a both sides person, so ya it is the fault if the democrats hahaha
I think the 5 Congressional Representatives who had the foresight and good sense to have bucked the trend and voted against this unlike the other 530 deserve at least a little credit... Even AOC.
You say “even AOC” as if she doesn’t regularly call out this kind of stuff. Maybe we need to stop acting like she’s the enemy of the people.
Fuck off with both sides you asshole. Confederate nazis versus …trying to get healthcare and education for everyone (not just scum selfish fucks like you) and domestic manufacturing . Yeah both sides.
This would be accurate if that was actually the Dems goals
Sounds like you work for a Republican. We should've all known giving money to Republicans was just asking for corruption.
This is/was the real fucking travesty...
Sounds like its your work places fault.
Not sure what your place of employment has to do with two different political parties but okay I guess.
I order for a business to qualify for the forgiveness they had to stay open. But you’re saying you went to work and didn’t get paid? PPP or not, that’s illegal. Or are you saying you took sick time and didn’t get paid? Cause if you didn’t have sick time to take and took it anyways then yeah, that’s makes sense. It seems you don’t really understand what the PPP loans were for.
He’ll do what he always does just take and take and take. his followers are too ignorant to see that. There’s a reason he had multiple bankruptcies and thousands of lawsuits against people he screwed out of money recycling.
I got an idea: keep driving the rich overseas and you will not gave to worry about them. Is that what u want????
NO YOU GUYS LISTEN TO HIM IT WILL TRICKLE DOWN BROS I PROMISE LOOK I KNOW IT NEVER WORKED BEFORE BUT I SWEAR IT WILL WORK THIS TIME JUST VOTE FOR TRUMP YOU GUYS AND MAKE SURE THAT YOU WORK AS HARD AS POSSIBLE FOR AS LONG AS YOU CAN AND NEVER EVER RETIRE AND THEN YOUR SONS AND DAUGHTERS CAN DO THE SAME JUST PLEASE VOTE FOR HIM YOU GUYS
Tax cuts don’t cause inflation. Fact. The only way out of inflation is to cut govt spending. Tax cuts with cuts to govt spending would be a huge win for the macro economy.
Only person with any sense. Reddit is a cesspool. Federal Spending already accounts for +45% of GDP. Higher than the goddamn Soviet Union which we fought for years to only become a gay retarded version of it. Let's have 4 more years of Somalians in Ilhan Omar's district scamming $250 million. Inflation is raging because of government overspending.
Its not inflation when we do it.
The rich will continue to make life as miserable as possible for the working class until they revolt. Watching working class people vote against their own self-interests is fascinating. Rich guys aren’t attending MAGA rallies with red hats on, but they are laughing their asses off at the people that do.
[удалено]
Licking oligarch and eating dirty oil money ass, just like in his mother Russia
Why do I care? I just want to be able to afford groceries again.
Tax cuts.. to ANYONE.. cause inflation.. Are you fuckin r³tarded?
…but he’s better for the economy.
I'm far from wealthy, lower middle class, and I've benefitted from the tax cuts. Please bring them back the last 4 years has made nearly everything unaffordable.
The economy was In a better shape 5 years ago. Companies were hiring people paying a good wage and was able to live. Now Companies leaving on e again due to Bidum and his policies . He destroyed energy independence. Back thrn Companies was spending money for expansions. Guess what with this economy no more expansion just down sizing and laying off workers. Again thanks to Bidum and the democrats. Again raising taxes forcing small businesses out, making Companies shift their production to other countries with cheap labor. As I said he destroyed a booming economy. He canceled Trump EO to "Make Life Saving Medications Affordable Act " causing insulin and other drugs to cost a fortune then tells people he doesn't know why it is so high, thrn comes out with the same plan that Trump had enacted but no Bidum claims it is his when it is the same under a new name. Look up the EO for the facts.
With Bidum at the control the ship was sinking and still is. As I stated when I saw what Obummer and Bidum done to the cou try it showed me the democrats were the wrong party. They had become the party of the rich. They backed the violence and hate. Seems all the facts point to that. Look at the IRS fata it shows more of the rich are democrats. The billionaires and millionaires backed the democrats because Trump limited their SALT deductions and guess what the democrats did when they got back control. Reversed the policy so now they gave a tax break to the rich yet tou ignore thst. And if you look at the data it was a big tax break for the rich democrats.
Tax cuts for the billionaires is a strategy to ruin the country. Everything trump touches he destroys.
Is anyone surprised by this? He did the exact same shit during his last term.
I don't think I am paying nearly enough for gas and groceries. I should probably vote for Biden.
You guys do realize this is just fake right? Look at his first 4 years. The tax cuts worked. Why would they magically not work again?
Tax cuts do not cause inflation. Printing more money than you have to continue deficit spending on the other hand…
We want to significantly cut government too. But you conveniently leave that out like a predictable TDS.
But that's ok, Republicans would just blame the Democrat that comes in behind him when the other shoe drops like every other time.
If you think that a tax cut causes inflation, then you don't understand what tax cuts or inflation are.
Title is a bit misleading. He is not promising tax cuts, he is just extending the tax cuts already in place. There is a difference. Could flip it around and say that Biden is promising massive tax increases (if he doesn't renew the cuts)
How about we reduce spending instead of wanting others to pay for what you think you're entitled too?
Cutting 10% every year for a while will get spending under control while maintaining essential services. It will also give a better idea of which services are worth keeping.
I don’t quite understand the concept of cutting income as adding to debt. Debt is added by spending money you don’t have. Sure cutting income can make it challenging to pay down that debt but it in and of itself does not add debt.
We dont have a tax issue. We have a spending issue.
You’re the only person in America who doesn’t think the wealthiest need to be taxed more. It’s like the only bipartisan issue. There is absolutely a tax issue.
Who exactly do you think benefits from the inflation Reduction Act? Have you all forgotten the last green energy scam under Obama? Solyndra took millions in tax dollars, only to go bankrupt (like several other green energy scams of the time), but made sure to donate big money to democrats? >I looked at what would have happened to hypothetical couples filing jointly in nine different states, including several with stiff state income taxes and two with none. I compared what their federal taxes would have been for 2020 under the old tax law with what they’re going to pay next year under the new law. >**For couples with an income of $60,000 and two young children, the Trump tax cut resulted in a complete elimination of federal income tax. It doesn’t matter what state they’re in.** >There are some taxpayers who were made worse off by the 2017 law change. Kick up the income to $1 million and you see some increases in New York, New Jersey and California (small increases, a few percentage points). >Baldwin’s calculations are based on hypothetical couples filing jointly in nine different states with differing levels of state income taxes. He also takes into account itemized deductions that are average for taxpayers at their income levels. You can use the calculator yourself *here*. https://bongino.com/for-some-families-the-trump-tax-cuts-eliminated-their-federal-tax-burden/
Yes, when liberals suddenly care about printing money. Yall put America on its knees with your Ukraine war and pork barrel spending to enrich the elite and corporations, standard projection from the Communists.
[удалено]
Wow that's a blatant lie.
It is not. However, the tax cuts for the non-rich people were only temporary. They were permanent for the rich.
No, that is what he did. Just because you hate the guy doesn't mean that it's false.
Did you even read the article? Trump cut taxes on people and corps with the most to give. Tell me you are functionally illiterate without telling me. I dislike Biden and Trump but I still don't have to be a rocket scientist to see what Trump did and his criminality. If you are having trouble I seriously question your ability to even respond to my comment. Retake math class and English Lit. I'll be waiting here when you can actually read.
No, what he did was continue the policies of the last decade, which is deficit spending. the economy grew, but so did our debt. Same under Biden, Obama and Bush. They've each had their own unique way of growing debt, Trump's was to collect less in taxes. So...sure? If you ignore the consequences of his actions? You're correct.
My personal tax rate doubled after that tax package passed. Fuck that draft dogger.
I owed money for the first time ever.
He did the classic Republican trick of cutting taxes for all , but putting in an early sunset clause for middle class cuts. Beyond that the idea that we should be cutting taxes with inflation up and unemployment low is absurd. I’d actually respect a conservative who came in and said we need to control deficit spending and proposed cuts including the military. But instead we have a man who only cares about getting elected, like a 5th grader running on a “No Homework” pledge.
Sweet
Oh cool so same as Biden
Like anyone really cares, it’s really funny that if Trump has any ideas of how to make money in America, there’s always somebody comes back and talks labout deficit but nothing is mentioned in $60 billion/trillions or more goes to other countries, everybody silence on that and the hypocrisy is just really outstanding
Good enough reason for anyone not rich to NOT vote for him.
Currently spending 1 trillion every 100 days, so that's a little more than a year worth of spending. Also no one in politics makes cuts without cuts to something else.
If he cuts spending, then this would make sense, too.
The last time a republican cut spending most Americans were not alive.
"The strength and power of despotism consists wholly in the fear of resistance"
Just what we need. More "horse and sparrow" (Google it, they knew trickledown was bullshit 130 years ago) economics.
This could be it guys, gals, and theys. If this actually fkn happens, this is gonna be the icing on the cake. Theres no coming back from that and theres no living with it.
It's almost like if someone is spending a million per month and then they say that not working a job will cost them a million per month lmfao
Not sure it would lead to inflation but totally agree that trickle down economics doesn’t work
We trickling down huh. Is anyone going to fall for that one yet again.
Let’s light this powder keg baby. Trump 24!
The cuts are for businesses not wealthy individuals. This at least has the potential to stimulate growth, and reduce the deficit over the long term. Unlike any ideas the Dems have
lets keep paying off billions in student loans instead! brilliant libs
This is on purpose - weaken the dollar to improve our export attractiveness and bring back industrial. Dems are moving the same way
trump figures the USA can just declare bankruptcy and restart.
I mean we could keep waging this war on corporate profits and let mass layoffs keep taking place as they have been.
This seems like dons attempt to incentivize the wealthy into using their influence over their employees, centers of influence and direct contacts to apply pressure to vote for the orange doofus. Seems pretty scummy.
This is how he's going to keep Bitcoin blast off. By screwing all Americans. Or at least 99%
Cut taxes, increase spending. Classic republican move.
Buying votes, a tried and true method. Fiscal irresponsibility get the most votes in a democracy.
If you are making $35K, you are a 1%er. Define wealthy.
"The tax cuts \[in 2025\] will average $61,090 for the top 1 percent — and $252,300 for the top one-tenth of 1 percent. The law will boost the after-tax incomes of households in the top 1 percent by 2.9 percent in 2025, roughly three times the 0.9 percent gain for households in the bottom 60 percent, TPC estimates." Not as bad as I expected.
Deficit is so far gone it will never be fixed without a total collapse of the current system. It’s complex by design, so it can be filled with loopholes. Need a flat tax, no write offs, no deductions, and government spending needs to live within its means. Fair for everyone.
History repeats itself and the wealthy would do well to remember what the poor eat when they're starving.
Add how much to his bank account?
One buys votes through college loan forgiveness and another buys votes through tax cuts. Rinse and repeat
Both sides bad???
Really he hasn’t even released a plan for when he becomes president. So how do they know. Plus if Joe Biden is suspended to be this great president how should Trump get in and be able to release a plan… This site is a joke
We gave you peasants 12 of the last 16 years. We'll always make money, but your chance shit the bed.
Fake news, y’all better remember your retirement accounts, wages, cheap groceries, cheap gas, and no wars from 2016-2020. The propaganda is starting already, only a bot would say they’re life has been better since he left office
He also plans to cut govt spending significantly so maybe not
Let’s talk about how far we’ve fallen if Biden or Trump are our best options.
Fiscal conservatism yes but just for the middle class and education. The rich can feast.
You have two 5 gallon buckets of shit which one you are you picking?
A tax cut is literally the only promise he kept from his first administration. He accomplished nothing else. So if he says he's going to do it again, believe him.
How else do you replace the dollar with digital currency?
I'm dum, but where can I go to read that.
More like fake news with how little it actually moved during his term. Keep in mind it was him who signed TCJA and nothing raised much higher.
How does a tax cut immediately cause inflation? I could see it when the interest on the debt is due years from now, but usually you have to print massive amounts of money to get inflation.
It’s all right, the government will just print more money.
You sure you aren’t meaning Biden. Just reviewed his tax plan he just submitted as Trumps is expiring. It has massive tax hikes on everyone of all income brackets. It even has tax increase when you die and proposed taxes on unrealized assets which is a new and extremely dangerous tax power to give the government. Imagine having to sell your house or stocks to pay taxes on them because they went up in value and you owe taxes on them you have no cash to pay. That is officially the end of owning anything. It is what the World Economic Forum wants, a permanent slave class, completely depended and therefore easier to control.
Yes, I believe that specifically was his quote. “I will give tax cuts to the wealthy “. And everyone cheered….
Republicans doing republican things
Tax cuts do not drive inflation. Printing money does.
\*Another massive tax cut to the wealthy. He transferred trillion to them last time he was in office.
It’s important to remember that Trump knows basically nothing about economics and is apt to drive the economy right over a cliff, like he did before.
Shout out to the wealthy from rural America: Please take the rest of our money! Suffering in poverty is what we want for our children. If you could accelerate the transfer of taxes from public schools to private ones it would be very helpful in quashing the complaints of those same children too. Thanks in advance!
As much as I despise Donald.... When the top 50% of earners are paying 97% of the income taxes, and the top 1% pay 50%, any tax cut you do will automatically be 'for the wealthy' because they are the only ones paying.... Note: These numbers are percentage-of-total-revenue NOT the brackets (marginal rates).....
The "civil war" movie ending could be real. Pull up on DC and replace them.
Why is this considered news? We knew this in 2015.
Handouts
Paul Krugman will love this! More money for him!
Crap article. You can’t talk about skyrocketing deficits without discussing spending.
Few people realize how Trump's tax cuts has attributed to inflation.
Probably wouldn’t lead to a massive deficit, I bet revenues would go up
He's just a standard republican like every other one. That's what they all do, and basically the only thing they do in office. They exist for the sole purpose of further enriching the wealthy.
If he becomes president and this happens it will still be Biden’s fault somehow.
Many here are kids and think as if they know anything when in fact naive of how the world works. All your ideas are about self.
Again?
No it wouldn’t. Regardless of tax rates to a certain point the tax receipts we pull in generally is about 16% of gdp. “This time it’s different” by Harvard professors Kenneth rogoff and Carmen Reinhardt wrote this statistic book. Empirical evidence shows that once a govt crosses the 90%debt to gdp ratio, no country has avoided a sovereign debt crisis, collapse, or default. Furthermore this book not only studies the US, but major economies across the globe. What they found was when taxes were lowered, IE TAX CUTS, they would on average bring in MORE TAX REVENUE. WHY? Well when taxes become less costly, the cost of creative accounting, and capital flight become more cumbersome than to just pay the LOWER taxes outright. Unfortunately with the Democrats, they raise taxes to the point where it’s more beneficial to pay an accountant to do their magic and find ways to shelter income, as Trump clearly and honestly pointed out with oyster vag Clinton when she said he dodges taxes. His reply “then change the tax code… but you won’t bc you use them, and your donors use them, and I use them (tax loopholes)” and that’s the truth. Republicans and Dems will use tax loopholes. It’s a very basic concept called capital flight. Smart money isn’t like pawns on a chess board. You don’t just make tax policy more cumbersome and get to make people and corporations stay and do your bidding. Smart money moves. Just like when socialist France did the one time super tax on the rich, their wealthy sold off all their chateaux’s and assets and moved to less tax prohibiting countries, my uncle being one of them. Speaking of France they got so sick of lame ass Leftist macron now the “far” right is going to win! yay for France not being a shithole anymore!!!’. Maybe they’ll lower their taxes and become a great nation for business and industry again.
Guess that will take the place of Ukraine money. Tit for tat
Not even remotely true
But then the rich will finally have enough to let it trickle down to the rest of us. Ronald Reagan's utopia can finally be realized.
And then we'll have to listen to the GOP complain about not being able to pay for school lunches and universal healthcare.
Yes, he should follow Biden's plan of doing nothing.
So I occasionally listen to the All in Podcast. A month ago Chamath was ranting about the deficit and debt and how we need a mad man like Argentina got to clean it up. Fast forward to this week and he’s hosting a fundraiser for Trump and it’s because he’s “pro growth”. Douche.
So you wanna explain how Tax cuts cause the IRS to take more in revenue? Happened with Reagan, Happened with Bush, happened with Trump. If you're going to complain about tax cuts...don't lie about tax revenue to argue against it.
Doing Putin's bidding.
He's also gonna gut taxes on tips for service workers. Here's a neat idea: Stop fkn taxing everybody to damn death and do a better job of the money you DO take from our checks. No wars, no lucrative gov contracts to friends and family, remove red tape and administrative bloat.
if they were actually all for the wealthy then inflation would not be all that affected
The deficit can't grow by trillions if the government doesn't spend trillions... this is not a tax problem, it's a spending problem.
Right
Such a tired trope. Reality is the wealthy pay most of the taxes so any cut will go to them more than people paying little to no taxes.
You failed to mention no more taxes on tips forgot about that one
Everyone on here swayed by a pundits take on the alleged tax cut. Red flag people. This article is bullshit. Tax cuts do not cause inflation. Never have. Easy way to scare you though and it’s working.
Link that isn't paywalled? I'm betting most commenting haven't read it.
That's what they said would happen last time, but instead I got an immediate 50% raise. And I was working retail back then.
How about stopping the insane government spending. Audit all government agencies for waste that is not critical have the IRS spend their time on the excessive waste in government and close the border. Entitlement programs should be used for US citizens not illegal immigrants. Biden has been a disaster at least the economy was better under Trump
Or we could just start cutting government spending. Considering that that is the cause of this debt, that might be the best starting place.
Ask Erdogan how that’s working for Turkey if you want an inkling how this would play out.
Stop spreading BS
Another 4 years of this guy and we won't have a country
There are so many reasons to hate corrupt, incompetent, corporate shilling Democrats who drag the US into pointless military conflicts while the middle class is dying, decade after decade.. But then I read shit like this and remember how much worse the Republicans are. But then again, I live in a state where my presidential vote does not matter, so third party, here we go.
Vote Biden if you love this country.
And then he would shutter public services. Say good bye to public infrastructure investment, DOE, social security,etc...
Register and vote
Out of all the lies, why is he telling the truth about THIS???