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Beer 1 year, 11 months ago.
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Democrats Release Tax Hike Plan
This week, Congressional Democrats released a detailed tax hike plan that they promised to implement if given majority control of the House and Senate after the 2018 midterm elections. So much for the crocodile tears about the deficit–Democrats want to raise taxes not to reduce the debt, but rather to spend that tax hike money on boondoggle projects.
Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it’s also a direct tax increase on small and mid-sized businesses. The 30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs pay their business taxes on their owners’ 1040 personal tax returns. Hiking the top tax rate is a small business tax increase.
Increase the corporate income tax rate from 21 percent to 25 percent. Up until this year, the United States labored under the highest corporate income tax rate in the developed world. As a result, jobs and capital were fleeing America for more normal tax rates that could be found in tax havens like France and China (saracasm font very much activated). Finally, after many years of bipartisan consensus that the U.S. corporate rate had become an impediment to attracting new jobs and investment, Congress cut the rate all the way from 35 to 21 percent. Even doing that only puts us in the middle of the pack of developed nations, but that’s a heck of a lot better than dead last.
Keeping the Democrats out of office is going to be imperative. They’re trying to undo all the work that Trump and Republicans did with the tax cuts and they make no bones about it. Democrats are hell bent on crippling the economy. I really want to see Democrats lose the midterms, but at this point, anything is possible.
Of course they want to raise our taxes, they want those crumbs back. And are they p~~~ed about those crumbs. Too f~~~in’ bad, I say.
"Don't follow in my footsteps...I stepped in something."
I’d love to hear the democrats reasoning for such changes. Pretty sure I’ve heard it all before though.
Ok. Then do it.
So, the democrat campaign platform is to impeach Trump so they can increase taxes.
The only sane reason I can think of is this approach not as a platform for any voting demographics. This is an appeal to the globalists to start funding the DNC. The same globalists that do not pay U.S. taxes and whom are losing money with President Trump’s nationalist policies.
In other words, the DNC is broke and they are begging for money any way they can, no matter how bad it looks for them.
If they run on that platform they are fools. /of course we are taking about liberals here/ I guess they needed to come up with something besides we hate Trump. F~~~ing socialist scum.
You know, I could understand raising taxes if it were coupled with lower spending to bring down the national debt, but nobody on the left wants to lower spending… except Defense. Even then it should be temporary to achieve the goal.
They have lost their f~~~ing minds.
Democrats are insane.
God Guns and Glory.
They forgot.
Anonymous1I’d love to hear the democrats reasoning for such changes. Pretty sure I’ve heard it all before though.
MORE THAN 50% OF VOTERS WILL LOVE THIS PLAN.
The pitch:
“We’re going to make those bastard evil top 1-percenters “pay their fair share” and stop screwing the middle class!”“We’re going to make those bastard evil corporations “pay their fair share” and stop screwing the middle class!”
“We will use these revenues to provide health care for everyone, drive down the price of a college education, fix our decayed infrastructure, and fund common sense firearm safety.”
The term “revenue” will be used because it sounds nicer than “tax.”
The term “firearm safety” will be used because it sounds nicer than “gun control.”Bottom line: This will drive more than 50% of the country into frenzied seizures of orgasm.
The more giveaways, the more dependence on the government.
The more dependence, the bigger the government.
The bigger the government, the bigger the “company.”
MORE GIVEAWAYS=MORE VOTES=MORE MONEY=MORE POWER FOR THE DEMS.You know, I could understand raising taxes if it were coupled with lower spending to bring down the national debt, but nobody on the left wants to lower spending… except Defense. Even then it should be temporary to achieve the goal.
They have lost their f~~~ing minds.
THIS. I wouldn’t mind if that was the case, unfortunately, as we all know – the government never balances the books. So increasing taxes only increases spending.
Of course they want to raise our taxes, they want those crumbs back. And are they p~~~ed about those crumbs. Too f~~~in’ bad, I say.
The the context of this thread, WHOSE taxes are being raised here? Are you in the top tax bracket or a corporation? If not, then they aren’t raising your taxes. They aren’t going to raise mine either.
"I am my own thang. Any questions?" - Davis S Pumpkins.
They may not be raising ours yet. But tax raised can be a gateway affect. Could be once the first set is done they will raise them again or raise them on someone else. What the seem to forget is, those with the means to leave will. And the tax bracket will disappear then some other group will be saddled with that deficit.
So yeah, it is relevant to us.But God forbid the dems want a balanced budget. It would really cut into their entitlement programs. Bunch of idiots… And worse part it stupid people will vote for it.
Hope that someday I may lead others the path I have learned. As Virgil led Dante through Hell.
They may not be raising ours yet. But tax raised can be a gateway affect.
Democrats aren’t happy with their constituents spending their own money. They are absolutely socialists and will continue to levy taxes until nobody has any money and everyone is equal.
Republicans have many problems, but the one thing they excel at is tax policy. We need to excise this cancer from our government and then start chopping heads off the hydra until we’re only paying for things that are in the constitution.
Cupcakes are Cold. MGTOW is Absolute Zero.
“Let us wait a little; when your enemy is executing a false movement, never interrupt him” –Napoleon Bonaparte, 1805The the context of this thread, WHOSE taxes are being raised here? Are you in the top tax bracket or a corporation? If not, then they aren’t raising your taxes. They aren’t going to raise mine either.
What world do you live on?
The fact of the matter all tax hikes only effect the working class, with the rich getting exemptions or tax breaks.
The current Trump tax cut, which this DNC plan gets rid of, RAISED TAXES for the rich by removing or lowering a number of tax breaks the rich use. For example, up until the Trump tax cut, the people in California, New Jersey, New York, and a few most stations could deduct all there state and local taxed from the federal income taxes. This is called the SALT deductions. This allowed the state governments of these states to shift the cause of their tax increased onto everyone in the U.S. whom live outside of those states.
But, the Trump tax cut made SALT deduction legal for all U.S. citizens, with the catch being that the deductions only went up to $10,000 dollars. For people in most states, their state and local taxes are less than $10,000 and this is welcome take home pay for those people. But, for the high tax states that had relied on unlimited SALT deductions to shift the cost of their taxes, this cap on SALT tax deductions has wreck their plans.
I could go into SALT here, which wasn’t what I was talking about, just that the proposal was to end up having the higher end pay more. That is about it. I won’t even touch that SALT line of reasoning. The compromise was to still keep it, up to a certain amount. It still hit the higher end, but there was an offset with lower tax rates.
Anyhow, more relevant here is “Starve the beast”. The theory is that you keep slashing taxes, and then the government will be forced to cut spending. Google that, and find any evidence that has worked. There are a number of articles on it, none of them show that is the case. You see now, with the recent budget floating about, that the congress is more than willing to run deficits, and increase it, than cut spending. If you reduce taxes, you make the cost people see for government to be cheaper. Make it cheaper, and people would want more. Democrats keep slashing taxes on the lower end, and there is an increased demand for more government services.
"I am my own thang. Any questions?" - Davis S Pumpkins.
Eventually there will be a financial collapse. A nice rise in the interest on the debt would eventually cause a runaway debt. Sovereign debt crisis or hyperinflation from printing money will result; which happens depends on the choice made at the end.
All my life I've had doubts about who I am, where I belonged. Now I'm like the arrow that springs from the bow. No hesitation, no doubts. The path is clear. And what are you? Alive. Everything else is negotiable. Women have rights; men have responsibilities; MGTOW have freedom. Marriage is for chumps. If someone stands in the way of true justice, you simply walk up behind them and stab them in the heart-R'as al Ghul.
I could go into SALT here, which wasn’t what I was talking about, just that the proposal was to end up having the higher end pay more. That is about it. I won’t even touch that SALT line of reasoning. The compromise was to still keep it, up to a certain amount. It still hit the higher end, but there was an offset with lower tax rates.
Anyhow, more relevant here is “Starve the beast”. The theory is that you keep slashing taxes, and then the government will be forced to cut spending. Google that, and find any evidence that has worked. There are a number of articles on it, none of them show that is the case. You see now, with the recent budget floating about, that the congress is more than willing to run deficits, and increase it, than cut spending. If you reduce taxes, you make the cost people see for government to be cheaper. Make it cheaper, and people would want more. Democrats keep slashing taxes on the lower end, and there is an increased demand for more government services.
Show me a government throughout human history that has every downsized willingly. The problem with the idea of “shrinking the government” is, it works in contrast to the government’s design to expand it’s power and authority whenever possible. That’s what governments do. And THAT concept HAS been proven throughout time. Again, and again and again.
Eventually there will be a financial collapse. A nice rise in the interest on the debt would eventually cause a runaway debt. Sovereign debt crisis or hyperinflation from printing money will result; which happens depends on the choice made at the end.
As long as currencies have existed, there have been those who have sought to devalue it and drive said currency down. Inflation is always the most suitable means. But this problem with the currency has happened half a dozen times in the US alone since we broke from Britain. Same deal happened multiple times in Russia, and in Germany (post WWII). You could do this all day. The toll of keeping a currency solvent is an every day battle in itself.
You know, I could understand raising taxes if it were coupled with lower spending to bring down the national debt, but nobody on the left wants to lower spending… except Defense. Even then it should be temporary to achieve the goal.
They have lost their f~~~ing minds.
Well to be fair…Republican’s have had all 3 branches for almost 2 years now and they haven’t exactly cut much spending either. I’ll appreciate the extra money in my pocket from tax reform but tax cuts + spending increases aren’t exactly the path to a balanced budget.
Eventually there will be a financial collapse. A nice rise in the interest on the debt would eventually cause a runaway debt. Sovereign debt crisis or hyperinflation from printing money will result; which happens depends on the choice made at the end.
Considering the money is borrowed into existence, there is the possibility of hyperinflation that will blow up. I am not sure about hyperinflation, because the printed money is going into a money hole that is growing, and not the economy. It hasn’t been wages mostly, and globalization has put downward pressure on costs, along with tech advancements.
Show me a government throughout human history that has every downsized willingly. The problem with the idea of “shrinking the government” is, it works in contrast to the government’s design to expand it’s power and authority whenever possible. That’s what governments do. And THAT concept HAS been proven throughout time. Again, and again and again.
There isn’t a correlation between taxes and spending. The pitch for reducing taxes was the “starve the beast” argument, which was supposed to put a crisis in place that would force reduction in spending. What you see now, with the recent budget Trump signed, was that other factors besides the debt, are more pressing. Only way to shrink government is to grow the private options, reduce problems, and then show that the government services aren’t needed. Most other options are a form of weaponizing making people worse off, that pits sides against each other. Part of the Trumpian Deplorables backlash against Washington was they crying out that Washington was ignoring them. The basic idea isn’t the lower class Americans are the problem, it is those who aren’t Americans coming in. With this Trump said he wouldn’t cut any spending for them, was a master of debt, and would grow things so huge, the deficit would take care of itself.
As long as currencies have existed, there have been those who have sought to devalue it and drive said currency down. Inflation is always the most suitable means. But this problem with the currency has happened half a dozen times in the US alone since we broke from Britain. Same deal happened multiple times in Russia, and in Germany (post WWII). You could do this all day. The toll of keeping a currency solvent is an every day battle in itself.
The motivation to devaluing is to have it such that it makes people buy and consume. It comes out also from a need to charge interest to pay for money being stored. And with the interest comes currency being devalued also. What I see in Cryptocurrency is an ability to expand the money supply organically, and have it tied to economic sectors that grow. You release it in finite bunches, related to different sectors. What you see here, is you keep hearing arguments against deflation, based around the argument that it makes debt unsustainable, like it isn’t a choice. How about debt being unsustainable being a good thing, and economic growth be done differently?
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Well to be fair…Republican’s have had all 3 branches for almost 2 years now and they haven’t exactly cut much spending either. I’ll appreciate the extra money in my pocket from tax reform but tax cuts + spending increases aren’t exactly the path to a balanced budget.The idea isn’t to cut spending, just to use it to score points. To overly simplify, the Democrat/Liberal side wants to punish the well off to make sure those who are less well off do ok enough. The Republican side wants to punish the less well off so that they work harder and become successful. Democrats want security, Republicans want merit. Each side uses pork and spending to get reelected.
By the way, the U.S government doesn’t know how to put money into the economy without debt.
"I am my own thang. Any questions?" - Davis S Pumpkins.
The Republican side wants to punish the less well off so that they work harder and become successful.
Punish the less well off? You mean putting less of my hard earned money into another person’s pocket is punishing them?
I’d agree that lower taxes and less handout programs encourage people to work and be self sufficient…but that is far from punishment.
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