Pictures of before and after inflation. What a difference a few years make.

[Mikeoxenormous]

The Democrats would love to have a VAT but we don't have that in the USA yet. The closest thing to it are the federally and state imposed excise taxes. I think I read somewhere that 100 countries or so do have a VAT.

But if the Democrats do not renew, extend, make permanent TCJA (Trump era tax reform) almost all of us will see our taxes substantially increase at the end of next year. The one exception will be in the $231,251 to $578,125 income ranges that will see their taxes dropped a bit and that's the bracket a lot of our federal law makers are in.

Republicans will pretty much 100% choose to keep TCJA in effect, even make it permanent. Democrats not so much. Another reason to vote GOP across the board in November.

All i know is that with the way inflation is, and that minimum wages have gone up, a lot of middleclass incomes, went higher into the tax brackets, where they were god awful taxes.

 

[Foxfyre]

All i know is that with the way inflation is, and that minimum wages have gone up, a lot of middleclass incomes, went higher into the tax brackets, where they were god awful taxes.

Well Trump and his tax reforms pushed through by a willing Congress at the time helped alleviate those god awful taxes for almost all of us--a very few in the upper middle class saw their taxes increase a bit but a lot of us got very nice and welcome reductions plus assurance that we wouldn't be hit with unworkable tax burdens with modest inheritances, getting really luck with our investments and such.

And if we do not elect a Congress and President who will extend and hopefully make permanent that legislation next year, most of us will see those god awful taxes again.