Biden Peddles Fiction About Trump Tax Cuts in SOTU

[mikegriffith1]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

 

[JGalt]

If the Trump tax cuts were so bad, why has it been almost four years and Biden still hasn't eliminated them?

This is just more of that asshole riding on Trump's coat tails while bitching about it.

 

[Oddball]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

The shitlibs never ever count spending when they're bitching about deficits and debt.

 

[pknopp]

Biden spends way, way, way too much. He said over and over he would make the "rich pay their fair share" and indeed did do nothing. Not even rolling back Trump's tax cuts.

That does little to deflect from Trumps trillions in new debt. Again, I noted when you won't hold your politician accountable, the problem will only continue to get worse.

And here we are.

 

[Dont Taz Me Bro]

Biden spends way, way, way too much. He said over and over he would make the "rich pay their fair share" and indeed did do nothing. Not even rolling back Trump's tax cuts.

It's all talk and always has been. The millionaire and billionaire class are as much a cash cow to the Democrats as they are the Republicans. They're not going to bite the hand that feeds them, but they will certainly make the ignorant masses believe they will.

 

[pknopp]

It's all talk and always has been. The millionaire and billionaire class are as much a cash cow to the Democrats as they are the Republicans. They're not going to bite the hand that feeds them, but they will certainly make the ignorant masses believe they will.

Both parties are the same outside of talk and a few mostly meaningless social issues.

 

[skews13]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

It was absolutely true in both scope and content.

The Great Republican Tax Giveaway to the Rich, is the largest sum of the $34 Trillion debt. It is the main driver of the deficit, and is 100% responsible for the destruction of the middleclass that was at its strongest between 1945-1980.

The trickle down scam is done son.

 

[Flash]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

Typical of the Potatohead to lie.

The income tax cuts were far more heavily weighted towards the lower income. Millions of lower income people were taken off the income tax rolls. Middle income people had reduced rates also. The only thing that hurt them was the cap on interest payments. As a middle class retiree I personally got $300 more spendable income each month with Trump tax cuts.

The Democrat dumbshits don't even know that reduced capital gains and corporate taxes stimulate the economy with investments and produce jobs. The greedy little Socialist shitheads have been taught to hate Capitalism.

The asshole Libtards always bitch about fewer taxes. The only tax cut they like is where they get one and other people don't.

As far as deficits like this Potatohead moron is accruing a trillion dollars every 100 days. We have deficits because we spend more money than we take in. The way to fix deficits is to stop spending so much money, not increase taxes that puts a damper on the economy.

The dumbshit Moon Bats would know that if it wasn't for the fact you morons don't know anymore about Economics than you know about History, Biology, Climate Science, Ethics or the Constitution.

 

[leftwinger]

Both parties are the same outside of talk and a few mostly meaningless social issues.

pure hogwash outa you like all your postings. DEMS create crisis (10s’ of $Trillions to repair the damages) To get back in power. Then you run your fat mouth blaming those trying to keep the Country going. Albeit the PORK spending, waste on GOVT & useless departments they both fund eagerly as you actually got about 1/100 of a post correct.//

 

[Dadoalex]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

Your argument has nothing to do with either your premise or the disconnected "evidence."

MATH FOR YOU

2.5% of 5 billion is $125M
3% of 30,000 is 900.

Yah, the tax cuts significantly favored the very rich.

 

[Dadoalex]

If the Trump tax cuts were so bad, why has it been almost four years and Biden still hasn't eliminated them?

This is just more of that asshole riding on Trump's coat tails while bitching about it.

Biden can't. congress can.
and
Trump's tax cuts, EXCEPT FOR THE TOP BRACKETS expire in 2025.
The tax increase you get next year is entirely on Trump.

 

[leftwinger]

Your argument has nothing to do with either your premise or the disconnected "evidence."

MATH FOR YOU

2.5% of 5 billion is $125M
3% of 30,000 is 900.

Yah, the tax cuts significantly favored the very rich.

congress owns the last-minute add-on upper tax cut. Their phones lit up with Coastal Elites screaming about the new $10K SALT cap. But you wont hear it in your CNN tube you lowIQ saps like screwball screw are glued to. Your ignorant of so much, you are a net negative for America. Go back to Africa or other.//

 

[Billo_Really]

Said Biden, "The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit."

This is both false and demagogic.

One, federal revenue has risen substantially since the Trump tax cuts, going from $3.3 trillion in 2016 to $4.7 trillion in 2023, a whopping 41% increase.

Two, runaway federal spending has canceled out the huge revenue increase generated since the Trump tax cuts. If we had maintained federal spending at 2016-Obama levels while only allowing spending to increase at the rate of inflation, we would have no deficit and would be paying down the national debt.

Federal spending has exploded from $3.85 trillion in 2016 to $6.1 trillion in 2023.

Three, the Trump income tax cuts were heavily weighted to the middle class. The year the tax cuts were passed, 2017, the tax rate for married couples was 15% in the second tax bracket, 25% in the third bracket, 28% in the fourth bracket, 33% in the fifth bracket, 35% in the sixth bracket, and 39.5% percent in the seventh bracket. The Trump tax cuts reduced those rates as follows:

Middle Income
2nd bracket -- from 15% down to 12% (3 percentage points)
3rd bracket -- from 25% down to 22% (3 percentage points)
4th bracket -- from 28% down to 24% (4 percentage points)

High Income
5th bracket -- from 33% down to 32% (1 percentage point)
6th bracket -- No change
7th bracket -- from 39.5% down to 37% (2.5 percentage points)

So the three middle-income brackets--the second, third, and fourth brackets--had their rates reduced by a total of 10 percentage points, while the high-income brackets--the fifth, sixth, and seventh brackets--had their rates reduced by only 3.5 percentage points.

I'm a member of the middle class and do you know what those tax cuts meant to me personally? $27! That's it! 27 bucks!

Thank you fucking Trump!

 

[pknopp]

pure hogwash outa you like all your postings. DEMS create crisis (10s’ of $Trillions to repair the damages) To get back in power. Then you run your fat mouth blaming those trying to keep the Country going. Albeit the PORK spending, waste on GOVT & useless departments they both fund eagerly as you actually got about 1/100 of a post correct.//

If you have something to say, please say it outside of your vague generalities that say nothing.

 

[22lcidw]

If the Trump tax cuts were so bad, why has it been almost four years and Biden still hasn't eliminated them?

This is just more of that asshole riding on Trump's coat tails while bitching about it.

The tax cuts supposedly end in 2025 and then revert to the old tables. Not much is being said.

 

[22lcidw]

I'm a member of the middle class and do you know what those tax cuts meant to me personally? $27! That's it! 27 bucks!

Thank you fucking Trump!

Progs have had a great opportunity to make tax cuts for the working class. They did not. And don't do that anymore.

 

[leftwinger]

I'm a member of the middle class and do you know what those tax cuts meant to me personally? $27! That's it! 27 bucks!

Thank you fucking Trump!

$50K in CA driving foe DHL ain’t middle class. If you got $27/payday (*52 or *24) it is over $1000. You also got CA 9% state tax + 9% sales tax on and on……you ain’t in the $150K bracket so sod off.

 

[leftwinger]

Progs have had a great opportunity to make tax cuts for the working class. They did not. And don't do that anymore.

Trump actually got Congress to make Tax filing simpler. All the other bozo clowns just talk. Again, 12 yrs of Obiden…yet nothing.

 

[BS Filter]

Your argument has nothing to do with either your premise or the disconnected "evidence."

MATH FOR YOU

2.5% of 5 billion is $125M
3% of 30,000 is 900.

Yah, the tax cuts significantly favored the very rich.

That's because the wealthy pay more taxes. Do you understand how percentages work?

 

[Billo_Really]

Progs have had a great opportunity to make tax cuts for the working class. They did not. And don't do that anymore.

We need to force the rich to pay more.