2017 Trump Tax Cuts did not go to the wealthiest 1%

[LAUGHatLEFTISTS]

Trump's tax cut was across the board every income tax payer under $500,000 per year got one...and undoing it will raise everyone's taxes....

With being almost 30 trillion in debt would be the thing to do.

You do understand taxes can be cut and the resulting economic activity can and has generated more tax revenue for the federal government ? Would you like to see the numbers after Kennedy cut taxes?

Maybe we can discuss what Millard Fillmore did after that. Then we can discuss the national debt at the time of Kennedy and all the massive pumping of the markets we did back then? No?

Sure. Whenever you’re ready. Please admit you understand my post first then we can get on with new discussions. Better yet, rove me wrong. You can’t so you won’t.

 

[Rambunctious]

You libs are crying about taxes when gas has gone up 100% since Joe was put in office by fraud....

Gas has not gone up by 100%. You are a Russian mole and or a dump lover
Or both -

In November my local gas was around $2.50 per gal...its over $4 now...that's pretty close to an 100% increase and I figure it will be at $5 by the end of summer so go and pick hairs with someone else short horn....

 

[LeftofLeft]

Trump's tax cut was across the board every income tax payer under $500,000 per year got one...and undoing it will raise everyone's taxes....

Except the meager tax cut to the poor was temporary, declining every year to 0, the tax cuts to the wealthy and businesses were permanent!

What is considered “poor”? What earned income tax do the poor pay after credits and exemptions? The people that get hit hardest with taxes are The Middle Class. Democrats will never admit this nor will they admit that the wealthy minimize their earned income so they don’t get hit either.

 

[pknopp]

Trump's tax cut was across the board every income tax payer under $500,000 per year got one...and undoing it will raise everyone's taxes....

With being almost 30 trillion in debt would be the thing to do.

You do understand taxes can be cut and the resulting economic activity can and has generated more tax revenue for the federal government ? Would you like to see the numbers after Kennedy cut taxes?

Maybe we can discuss what Millard Fillmore did after that. Then we can discuss the national debt at the time of Kennedy and all the massive pumping of the markets we did back then? No?

Sure. Whenever you’re ready. Please admit you understand my post first then we can get on with new discussions. Better yet, rove me wrong. You can’t so you won’t.

What happened 60 years ago is not relevant to what happens now. So we can discuss the ramifications of how people want the markets to continue to be pumped but have no desire the address the correlating debt and what things like this is going to mean?

Russia Cuts Dollar Holdings From $119 Billion Wealth Fund Amid Sanctions

 

[edthecynic]

Xiden’s plan would raise taxes on the working class and do away with trumps tax cuts to the working class...who had the largest cuts

Tramp already did away with his working class tax cuts, where have you been.
Republicans made individual tax cuts temporary so they could meet budget rules that let them pass their tax overhaul with no Democratic votes.

 

[Rambunctious]

You can't judge the nations economic health with GDP numbers that lag behind and always must be corrected....

2.9% was the third estimate. As for whether it’s a lagging indicator? GDP growth in 2019 was 2.3%.

So there goes that excuse.

GDP is the value of goods and services...when inflation is low prices go down and that's a good thing...you seem to think that the GDP drop is a negative thing...its not...competition holds down prices and that is why we say bring the free market to health care and higher education...

 

[edthecynic]

Trump's tax cut was across the board every income tax payer under $500,000 per year got one...and undoing it will raise everyone's taxes....

Except the meager tax cut to the poor was temporary, declining every year to 0, the tax cuts to the wealthy and businesses were permanent!

What is considered “poor”? What earned income tax do the poor pay after credits and exemptions? The people that get hit hardest with taxes are The Middle Class. Democrats will never admit this nor will they admit that the wealthy minimize their earned income so they don’t get hit either.

Whatever tax cut to wage earners that they get, it is still TEMPORARY, unlike the wealthy whose tax cuts are permanent. I noticed you avoided that FACT

 

[struth]

Xiden’s plan would raise taxes on the working class and do away with trumps tax cuts to the working class...who had the largest cuts

Tramp already did away with his working class tax cuts, where have you been.
Republicans made individual tax cuts temporary so they could meet budget rules that let them pass their tax overhaul with no Democratic votes.

No he didn't...the cuts are still there.

They didn't make them temporary idiot...they could only be temporary

The Dems and Xiden are refusing to extend them now, hence a tax increase dumbnuts

 

[pknopp]

You can't judge the nations economic health with GDP numbers that lag behind and always must be corrected....

2.9% was the third estimate. As for whether it’s a lagging indicator? GDP growth in 2019 was 2.3%.

So there goes that excuse.

GDP is the value of goods and services...when inflation is low prices go down and that's a good thing...you seem to think that the GDP drop is a negative thing...its not...competition holds down prices and that is why we say bring the free market to health care and higher education...

Goods and services AND debt. People argue all these old ideas that really are no longer even applicable today.

 

[airplanemechanic]

Its not the tax rates, its the loopholes. Trump didn't pay anything, neither did many of the wealthiest.

Ok, how much income tax should someone with no income pay? Please give a specific number. Thanks.

 

[edthecynic]

Xiden’s plan would raise taxes on the working class and do away with trumps tax cuts to the working class...who had the largest cuts

Tramp already did away with his working class tax cuts, where have you been.
Republicans made individual tax cuts temporary so they could meet budget rules that let them pass their tax overhaul with no Democratic votes.

No he didn't...the cuts are still there.

The tax increase is written right in Tramp's tax law, the cuts for wage earners are completely gone by 2025, so it is Tramp raising taxes on the middle class, NOT Biden.

 

[colfax_m]

You can't judge the nations economic health with GDP numbers that lag behind and always must be corrected....

2.9% was the third estimate. As for whether it’s a lagging indicator? GDP growth in 2019 was 2.3%.

So there goes that excuse.

GDP is the value of goods and services...when inflation is low prices go down and that's a good thing...you seem to think that the GDP drop is a negative thing...its not...competition holds down prices and that is why we say bring the free market to health care and higher education...

Drops in GDP is called a recession. That’s not a good thing.

Jesus, the mental gymnastics on display here are idiotic. The economy did not suddenly grow as a result of tax cuts. Economic growth=GDP growth which is corrected for inflation.

 

[Toddsterpatriot]

Transaction tax on financial transactions, stocks, bonds, derivatives, bitcoin, etc.

Terrible idea.

 

[Toddsterpatriot]

the cuts for wage earners are completely gone by 2025,

The Dems could make that cut permanent....today.

Why don't they?

Is it because they hate the middle class?

 

[colfax_m]

the cuts for wage earners are completely gone by 2025,

The Dems could make that cut permanent....today.

Why don't they?

Is it because they hate the middle class?

No rush. I have little doubt tax reform is coming down the pipe from this Congress but will take time to hammer out all the details.

Republicans could have made that cut permanent too. Why didn’t they?

 

[Toddsterpatriot]

Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free* ... $0 ... my entire tax liability was 1.3% of my AGI ... thievin' bastards ... thank you all for paying my fair share of the tax load ... seven come eleven baby, Las Vegas wouldn't be the same without y'all's generosity ...

* = Qualified Dividend and Capital Gains Worksheet, Instructions for IRS Form 1040 (2020), page 35, line 13 ...

Just looked at my 2020 tax returns ... the first $441,450 in capital gains is tax free*

You're confused.

 

[struth]

Xiden’s plan would raise taxes on the working class and do away with trumps tax cuts to the working class...who had the largest cuts

Tramp already did away with his working class tax cuts, where have you been.
Republicans made individual tax cuts temporary so they could meet budget rules that let them pass their tax overhaul with no Democratic votes.

No he didn't...the cuts are still there.

The tax increase is written right in Tramp's tax law, the cuts for wage earners are completely gone by 2025, so it is Tramp raising taxes on the middle class, NOT Biden.

haha that is the dumbest logic in the world

The tax cuts had to have a sunset cause due to congressional rules

it’s the dems and xiden refusing to extend them

they are raising the taxes

they didn’t want tax cuts to begin with

they are also trying to raise your cap gains and also trying to tax you for simply selling something you already own!

 

[Toddsterpatriot]

Incomplete data. If there is 12 trillion in wealth and 600 million is paid in taxes that would be higher than 16 trillion in wealth and 600 million in taxes.

We don't tax wealth in the US.

Property taxes.

That's not a wealth tax, that's a property tax.

You don't know the difference?

 

[initforme]

"you all got a lot richer today". That's who the tax cuts benefited. Done. Nothing more to say.

 

[colfax_m]

The tax cuts had to have a sunset cause due to congressional rules

Tax cuts for corporations didn’t sunset in the Trump tax cut. There’s no rule saying they have to sunset.