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Biden's massive tax hike

CDDP

Overlord
Founder
Joined
Jan 8, 2021
Messages
1,786
This should crater the economy along with the inflation that is building. I hope businesses and investors pull back on economic activity to hurt all these 'tards that voted for Biden



Bloomberg has a list of proposals that are reportedly under consideration, though they all likely won't make it into the final bill. Notably the first two bullets would effectively unwind the two biggest components of the Trump tax cuts.

  • Raising the corporate tax rate to 28% from 21%
  • Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships
  • Raising the income tax rate on individuals earning more than $400,000
  • Expanding the estate tax’s reach
  • A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher)

 

Taggart

Elite
Founder
Patron
Joined
Jan 9, 2021
Messages
1,092
The media will report it as just restoring the fair tax rates that we enjoyed under Obama, and just undoing Trump's handouts to his billionaire buddies.
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MataHari

Member
Joined
Jan 11, 2021
Messages
2
Tick by tick incentive is being removed. Why work harder if your benefit is capped? Systemically removing power from the middle to upper middle classes and making economic ladder climbing to the next tier more difficult. If you're able, you will go to a place that will allow exceptional work to reap exceptional rewards instead of staying to fight. Now that they have power, economically disarming anyone who could pose a threat is clearly the agenda.
 

Boxman4

Elite
Founder
Joined
Jan 7, 2021
Messages
600
If we had responsible, honest elected representatives we would have had a stand alone Covid relief bill. If they are printing money, spend the trillion on a massive infrastructure plan. Voters/taxpayers could stomach that. Not this selfish pet project and kickback horseshit we got. Infuriating.
 

byrons

Leader
Joined
Jan 21, 2021
Messages
79
I'm no genius but I can't believe all the dems and independents cheer for raising the tax rate on corporations. Don't they see the larger picture where the folks who buy a corporation's products or services end up paying the tax increase in larger fees or product cost. Thanks Bye-den you ancient turd, you just proposed raising taxes on individuals in every income category and you don't even know it or care. Dems pull the wool over their constituents eyes by giving 'em free money and even that ain't free. Good grief.
 

squanchy

Leader
Joined
Mar 15, 2021
Messages
115
This should crater the economy along with the inflation that is building. I hope businesses and investors pull back on economic activity to hurt all these 'tards that voted for Biden



Bloomberg has a list of proposals that are reportedly under consideration, though they all likely won't make it into the final bill. Notably the first two bullets would effectively unwind the two biggest components of the Trump tax cuts.

  • Raising the corporate tax rate to 28% from 21%
  • Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships
  • Raising the income tax rate on individuals earning more than $400,000
  • Expanding the estate tax’s reach
  • A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher)


I've never understood the estate tax. Didn't they already pay taxes on their assets before dying? At this point they're just squeezing every last dollar out of your squanch. Increasing the capital gains tax is another ridiculous one as well. You're already taxed on your income so why would I give you more of my squanch? Oh and you're going to raise the corporate tax rate is well? Why in the squanch would I want to start a successful business if you're just gonna take all my money?
 

quickfeet

Get Steppin’
Founder
Patron
Joined
Feb 19, 2021
Messages
3,144
I've never understood the estate tax. Didn't they already pay taxes on their assets before dying? At this point they're just squeezing every last dollar out of your squanch. Increasing the capital gains tax is another ridiculous one as well. You're already taxed on your income so why would I give you more of my squanch? Oh and you're going to raise the corporate tax rate is well? Why in the squanch would I want to start a successful business if you're just gonna take all my money?
1615842853900.jpeg
 

Jayhacker

Overlord
Founder
Patron
Joined
Jan 9, 2021
Messages
4,247
I'm no genius but I can't believe all the dems and independents cheer for raising the tax rate on corporations. Don't they see the larger picture where the folks who buy a corporation's products or services end up paying the tax increase in larger fees or product cost. Thanks Bye-den you ancient turd, you just proposed raising taxes on individuals in every income category and you don't even know it or care. Dems pull the wool over their constituents eyes by giving 'em free money and even that ain't free. Good grief.
Someone needs to tell joe about it. He has no clue what his comrades are up to.
 

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