Biden Set To Unveil More Than $2 Trillion In Tax Hikes In Budget

[Flash]

/——-/ If you can’t refute the message, attack the messenger. In your case you couldn’t understand what Flash posted.

Moon Bats have never understood the simple concept of reducing spending.

They are not exactly the best and brightest.

 

[Cellblock2429]

Moon Bats have never understood the simple concept of reducing spending.

They are not exactly the best and brightest.

/——/ Libtard Moonbats sure understand spending cuts when it comes to the military budget.

 

[pknopp]

/——-/ If you can’t refute the message, attack the messenger. In your case you couldn’t understand what Flash posted.

Debt didn't go up ever because we raised taxes. Debt did go up when Trump cut taxes. 7.8 trillion dollars.

 

[pknopp]

Moon Bats have never understood the simple concept of reducing spending.

They are not exactly the best and brightest.

I've NEVER argued against reducing spending. NEVER. I've done the opposite.

 

[Cellblock2429]

Debt didn't go up ever because we raised taxes. Debt did go up when Trump cut taxes. 7.8 trillion dollars.

/——/ Spending causes the debt.

 

[Flash]

I've NEVER argued against reducing spending. NEVER. I've done the opposite.

You idiot. You said in your first post that we need to raise taxes to fix the debt.,

That shows that you are an idiot.

You tried pulling this stupid shit about raising taxes and reducing spending. However, you are so ignorant of Economics that you don't even know that raising taxes reduces potential government revenue.

The government doesn't produce anything. All it does is take money that has already been earned and redistributing it and that does nothing for the economy.

We Americans learned things like that in Economics 101. However, you idiot Moon Bats don't know any more about Economics than you know about Biology, Climate Science, History, Ethics or the Constitution.

 

[Care4all]

I do not believe a standard deduction is in any kind of flat tax plan.

A few years back I did a lot of reading up on the history of income taxes....

Well, basically, I do not believe the government can tax all of our income...like with businesses, they can only tax our so called profit, but not what it takes to live....just like what it takes to run a business is usually not taxed as income or as profit.

To be able to tax us as individuals, instead of giving us all the complicated write offs that businesses had to write off their taxable income, they instituted the standard deduction, or maybe it was called a Personal exemption at the time, with an amount that they've calculated to be the minimum amount it takes for you to live.... then above that could be taxed as earnings... Unless you have further deductions that are approved and above the standard deduction amount.

I believe this is still the case, but not 100% certain.... I would have to research it again to double check.

 

[Blues Man]

Taxes need raised to address the debt BUT $2 trillion over 10 years is a very small move to address the debt. They can spend $2 trillion like it's nothing.

he didn't say debt he said deficit the debt will continue to rise.

 

[Care4all]

/——/ Spending causes the debt.

Yep! But also interest on the debt payment, can cause even more debt....especially when interest rates rise on borrowing and lending.

 

[pknopp]

/——/ Spending causes the debt.

And Trump sure did a lot of that. But the spending has been done. We are not starting from scratch and it has to be paid.

 

[pknopp]

You idiot. You said in your first post that we need to raise taxes to fix the debt.,

We do.

That shows that you are an idiot.

You tried pulling this stupid shit about raising taxes and reducing spending. However, you are so ignorant of Economics that you don't even know that raising taxes reduces potential government revenue.

The government doesn't produce anything. All it does is take money that has already been earned and redistributing it and that does nothing for the economy.

We Americans learned things like that in Economics 101. However, you idiot Moon Bats don't know any more about Economics than you know about Biology, Climate Science, History, Ethics or the Constitution.

People spend because they never get called to pay for their spending.

 

[pknopp]

he didn't say debt he said deficit the debt will continue to rise.

OK, but my point stands as you note. It's just a very small move to address our problem and he did this when he knew it would never pass.

 

[Harpy Eagle]

Moon Bats have never understood the simple concept of reducing spending.

Have you ever voted for anyone that cut spending?

 

[Harpy Eagle]

We do.



People spend because they never get called to pay for their spending.

They spend because every time we send them back to DC we are giving them the green light to do so....and they get reelected at a greater than 90% clip

 

[Harpy Eagle]

/——/ Spending causes the debt.

Have you ever voted for anyone that cut spending?

 

[Cellblock2429]

Have you ever voted for anyone that cut spending?

/——/ Yes. Locally, but not nationally since I live in a Blue state.

 

[Cellblock2429]

And Trump sure did a lot of that. But the spending has been done. We are not starting from scratch and it has to be paid.

/——-/ Only Congress can spend the money. The president has little control over the budget except the veto which shuts down the government and millions suffer. But, you already knew that.

 

[progressive hunter]

Biden set to unveil more than $2 trillion in tax hikes in budget

President Biden is set to formally propose an array of tax increases on wealthy individuals and corporations in a budget plan that he says will reduce the deficit by $2 trillion over the next decad…

thehill.com

President Biden is set to formally propose an array of tax increases on wealthy individuals and corporations in a budget plan that he says will reduce the deficit by $2 trillion over the next decade, setting up a battle royal with Republicans on Capitol Hill.

Biden told lawmakers during his State of the Union address last month that his budget will lower the deficit and extend the solvency of the Medicare Trust Fund “by making the wealthy and big corporations begin to pay their fair share.”


The White House on Tuesday unveiled a proposal to raise the Medicare surtax on earned and unearned income above $400,000 from 3.8 percent to 5 percent.

Late last month, the president proposed a new tax on wealthy households that would require individuals and families worth more than $100 million to pay a 20 percent tax on income and the unrealized gains of liquid assets such as stocks.


Now that's just stupid, taxing the value of your stocks before you have sold them. There's no way anyone will go along with that. Maybe Biden put that in there as a bargaining chip to give away in exchange for something else.

"Reduce the deficit by $2 trillion over the next decade". So what's that? Reduce our current trillion and a half dollar deficits by $200 billion a year? Whoop-dee-do!


Republicans say Biden’s budget will be dead on arrival when the president formally sends it to Capitol Hill on Thursday.

Meanwhile, Republicans have offered no plan at all to reduce our debt they helped to build.

its what you voted for,,

the repubes have said many times the size of government needs cut but you big gov morons always reject that,,

we will never reduce debt or deficit unless the size of government is cut at least by half

 

[pknopp]

/——-/ Only Congress can spend the money.

That's wrong but you know that. Congress can not spend a single penny unless the president agree's to it.

Why do you continue to do this?

The president has little control over the budget except the veto which shuts down the government and millions suffer. But, you already knew that.

I fully supported him not signing off on the debt. Sadly he was not.

 

[pknopp]

its what you voted for,,

the repubes have said many times the size of government needs cut but you big gov morons always reject that,,

we will never reduce debt or deficit unless the size of government is cut at least by half

They do say it.........they just don't do it.