Biden WILL raise your taxes unless you don't pay any in the 1st place

[task0778]

The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

No one can doubt that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris tax plan, if implemented, would affect households earning less than $400,000. On cue, during last Wednesday’s debate, Senator Harris and Vice President Biden sparred over the subject.

The answer? Most households would face a tax increase under the Biden-Harris tax plan. In fact, as the chart shows, unless your household income is less than $45,600, there is more than a 90 percent chance that the Biden-Harris plan, if enacted, will raise your taxes. In the exact middle of the household income distribution, over 95 percent of households can expect a tax increase if the Biden-Harris plan becomes law. Overall, 82.6 percent of American households can expect a tax increase.

These estimates come from the Penn Wharton Budget Model at the University of Pennsylvania’s Wharton School of Business, not exactly a friend of President Trump’s economic agenda.

When I was at President Trump’s White House Council of Economic Advisers, in fact, we explicitly criticized the Penn Wharton Budget Model’s estimates of the effects of the 2017 Tax Cuts and Jobs Act. If the Penn Wharton Budget Model produces estimates inconvenient for the Biden-Harris agenda, then, they’re likely to be inconvenient truths. Not results of cherry-picked assumptions.
.
.
Doubt tends to be the natural response to statistics that surprise. But if these numbers surprise you, your natural doubt may here lead you astray. A chasm between public perception and reality on tax policy, according the New York Times, emerged during President Trump’s first term. “If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it,” Ben Casselman and Jim Tankersley, economics journalists at the Times, wrote in April 2019, about the effects of the Tax Cuts and Jobs Act. “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law,” they conclude.

Now, Vice President Joe Biden is campaigning on a repeal of the legislation that produced a broad middle-class tax cut. He, like many who told you that the 2017 legislation didn’t cut your taxes, now claims this repeal won’t raise your taxes. Now, then, it seems Vice President Biden and Senator Harris are lying about the likely effects of their tax plan.

The Median Household Will Pay More under Biden-Harris Tax Plan | National Review

The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

www.nationalreview.com

Look at your tax return for 2018 and 2019. Most of us who earned less than $400,000 paid less in federal taxes. Figure out the % paid, it was lower in most cases unless you had a big jump in earnings.

Then there's the tax rate increase on corporate taxes. How can anyone not know that an increase in costs for any company large or small gets passed on to some combination of the customer, suppliers, and employees? So, if Je Biden gets elected and has his way, most of us will get less money in our paychecks and spend more due to higher prices. At a time when the ecnmy is flundering due too the pandemic and most of the needless lockdowns.


Note the March 10, 2020 date on the graph.

Those estimates — produced in March 2020 as part of an analysis of the Biden-Harris tax agenda — were updated in September 2020 with a comprehensive look at the entire Biden-Harris economic agenda. The “updated” analysis, however, did not include estimates specifically of how many households in each income quintile faced tax increases. At least none that the public can see.

By all indications, however, there is no reason to expect March 2020’s numbers on households facing tax hikes under the Biden-Harris plan to have changed by September 2020. The specific provisions that drove these estimates in March 2020 were still there in September. The numbers also, it seems, line up. In March, they estimated that the plan would raise between $3.1 and $3.7 trillion in revenue over 10 years. In September, they estimated that the plan over 10 years would raise $3.4 trillion — the exact midpoint that represents the average of $3.1 and $3.7 trillion. At the quintile level, Penn Wharton changed its verbiage for describing average tax hikes between March and September. So far as I can discern red from orange and compare apples to apples, however, the tax hikes for each quintile in September’s analysis are within a tenth of a percentage point of what was reported in March. So what’s under the hood of September’s estimate appears more-or-less identical to what was there in March.

 

[Synthaholic]

 

[toobfreak]

Look at your tax return for 2018 and 2019. Most of us who earned less than $400,000 paid less in federal taxes. Figure out the % paid, it was lower in most cases unless you had a big jump in earnings.

I read an independent study of the matter a while back and they claimed that the group who benefited most (I assume from a percentage standpoint) from the Trump tax cuts were people earning between $50,000 and $70,000. So it is a lie that only the rich benefited from it.

Also, with Biden in, not only will your taxes go up, but far more from increased cost for things like gasoline, food and especially energy. Biden will kick 95% of the productive people in the country in the nuts then give some small benefit to the poor and illegals, etc., to use as a talking point for the "millions and millions" of people he's help.

Actually, I need to stop referring to everything as Biden--- --- Biden will in short order be relegated to a string marionette with Harris really pulling them.

 

[badbob85037]

View attachment 401060


The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

No one can doubt that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris tax plan, if implemented, would affect households earning less than $400,000. On cue, during last Wednesday’s debate, Senator Harris and Vice President Biden sparred over the subject.

The answer? Most households would face a tax increase under the Biden-Harris tax plan. In fact, as the chart shows, unless your household income is less than $45,600, there is more than a 90 percent chance that the Biden-Harris plan, if enacted, will raise your taxes. In the exact middle of the household income distribution, over 95 percent of households can expect a tax increase if the Biden-Harris plan becomes law. Overall, 82.6 percent of American households can expect a tax increase.

These estimates come from the Penn Wharton Budget Model at the University of Pennsylvania’s Wharton School of Business, not exactly a friend of President Trump’s economic agenda.

When I was at President Trump’s White House Council of Economic Advisers, in fact, we explicitly criticized the Penn Wharton Budget Model’s estimates of the effects of the 2017 Tax Cuts and Jobs Act. If the Penn Wharton Budget Model produces estimates inconvenient for the Biden-Harris agenda, then, they’re likely to be inconvenient truths. Not results of cherry-picked assumptions.
.
.
Doubt tends to be the natural response to statistics that surprise. But if these numbers surprise you, your natural doubt may here lead you astray. A chasm between public perception and reality on tax policy, according the New York Times, emerged during President Trump’s first term. “If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it,” Ben Casselman and Jim Tankersley, economics journalists at the Times, wrote in April 2019, about the effects of the Tax Cuts and Jobs Act. “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law,” they conclude.

Now, Vice President Joe Biden is campaigning on a repeal of the legislation that produced a broad middle-class tax cut. He, like many who told you that the 2017 legislation didn’t cut your taxes, now claims this repeal won’t raise your taxes. Now, then, it seems Vice President Biden and Senator Harris are lying about the likely effects of their tax plan.

The Median Household Will Pay More under Biden-Harris Tax Plan | National Review

The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

www.nationalreview.com

Look at your tax return for 2018 and 2019. Most of us who earned less than $400,000 paid less in federal taxes. Figure out the % paid, it was lower in most cases unless you had a big jump in earnings.

Then there's the tax rate increase on corporate taxes. How can anyone not know that an increase in costs for any company large or small gets passed on to some combination of the customer, suppliers, and employees? So, if Je Biden gets elected and has his way, most of us will get less money in our paychecks and spend more due to higher prices. At a time when the ecnmy is flundering due too the pandemic and most of the needless lockdowns.


Note the March 10, 2020 date on the graph.

Those estimates — produced in March 2020 as part of an analysis of the Biden-Harris tax agenda — were updated in September 2020 with a comprehensive look at the entire Biden-Harris economic agenda. The “updated” analysis, however, did not include estimates specifically of how many households in each income quintile faced tax increases. At least none that the public can see.

By all indications, however, there is no reason to expect March 2020’s numbers on households facing tax hikes under the Biden-Harris plan to have changed by September 2020. The specific provisions that drove these estimates in March 2020 were still there in September. The numbers also, it seems, line up. In March, they estimated that the plan would raise between $3.1 and $3.7 trillion in revenue over 10 years. In September, they estimated that the plan over 10 years would raise $3.4 trillion — the exact midpoint that represents the average of $3.1 and $3.7 trillion. At the quintile level, Penn Wharton changed its verbiage for describing average tax hikes between March and September. So far as I can discern red from orange and compare apples to apples, however, the tax hikes for each quintile in September’s analysis are within a tenth of a percentage point of what was reported in March. So what’s under the hood of September’s estimate appears more-or-less identical to what was there in March.

Where did you expect the money was coming from to pay our share to WHO including the pay Trump has refused to give these ally of China. Also a couple trillion to global warming, climate change or what ever you call the con game. The way Crusty Joes has some serious brain rot going on he will have to bring into his administration Coke Head Hunter Biden to make sure he is getting his cut. Why do you think when a democRat is elected the economy and stock market takes a dive. He will even get some cash so he can pay off his voting base with a little Crack to hold them off for four years. Just like last time and the time before that and the time before that and the time.....

 

[SassyIrishLass]

Demoquacks need excessive taxes to pay for shit they new damn well and good they they couldn't pay for to begin with.

See California, Illinois and New York for examples

 

[Muhammed]

Even people who pay no taxes now with have to pay more taxes under Biden if he got his way. Cap and trade is essentially a hidden tax on everything that anybody buys. It raises the price of everything in order to create a commodity market out of thin air to benefit only the richest people.

 

[SassyIrishLass]

Great jacket!!!!!

Now pay for your own shit

 

[rightwinger]

My taxes went up under Trump

Under Biden, I will regain my SALT tax deduction

 

[SassyIrishLass]

My taxes went up under Trump

Under Biden, I will regain my SALT tax deduction

Liar

But it adds to your ridiculous post count....snicker

 

[Thinker101]

My taxes went up under Trump

Under Biden, I will regain my SALT tax deduction

You no doubt have a link on that.

12 Tax Changes Joe Biden Wants to Make | The Motley Fool

 

[TNHarley]

My taxes went up under Trump

Under Biden, I will regain my SALT tax deduction

Ahh yes. Make me pay for your ridiculous regressive state taxes. Disingenuous dumbfuck

 

[TheHardTruth]

View attachment 401060


The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

No one can doubt that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris tax plan, if implemented, would affect households earning less than $400,000. On cue, during last Wednesday’s debate, Senator Harris and Vice President Biden sparred over the subject.

The answer? Most households would face a tax increase under the Biden-Harris tax plan. In fact, as the chart shows, unless your household income is less than $45,600, there is more than a 90 percent chance that the Biden-Harris plan, if enacted, will raise your taxes. In the exact middle of the household income distribution, over 95 percent of households can expect a tax increase if the Biden-Harris plan becomes law. Overall, 82.6 percent of American households can expect a tax increase.

These estimates come from the Penn Wharton Budget Model at the University of Pennsylvania’s Wharton School of Business, not exactly a friend of President Trump’s economic agenda.

When I was at President Trump’s White House Council of Economic Advisers, in fact, we explicitly criticized the Penn Wharton Budget Model’s estimates of the effects of the 2017 Tax Cuts and Jobs Act. If the Penn Wharton Budget Model produces estimates inconvenient for the Biden-Harris agenda, then, they’re likely to be inconvenient truths. Not results of cherry-picked assumptions.
.
.
Doubt tends to be the natural response to statistics that surprise. But if these numbers surprise you, your natural doubt may here lead you astray. A chasm between public perception and reality on tax policy, according the New York Times, emerged during President Trump’s first term. “If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it,” Ben Casselman and Jim Tankersley, economics journalists at the Times, wrote in April 2019, about the effects of the Tax Cuts and Jobs Act. “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law,” they conclude.

Now, Vice President Joe Biden is campaigning on a repeal of the legislation that produced a broad middle-class tax cut. He, like many who told you that the 2017 legislation didn’t cut your taxes, now claims this repeal won’t raise your taxes. Now, then, it seems Vice President Biden and Senator Harris are lying about the likely effects of their tax plan.

The Median Household Will Pay More under Biden-Harris Tax Plan | National Review

The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

www.nationalreview.com

Look at your tax return for 2018 and 2019. Most of us who earned less than $400,000 paid less in federal taxes. Figure out the % paid, it was lower in most cases unless you had a big jump in earnings.

Then there's the tax rate increase on corporate taxes. How can anyone not know that an increase in costs for any company large or small gets passed on to some combination of the customer, suppliers, and employees? So, if Je Biden gets elected and has his way, most of us will get less money in our paychecks and spend more due to higher prices. At a time when the ecnmy is flundering due too the pandemic and most of the needless lockdowns.


Note the March 10, 2020 date on the graph.

Those estimates — produced in March 2020 as part of an analysis of the Biden-Harris tax agenda — were updated in September 2020 with a comprehensive look at the entire Biden-Harris economic agenda. The “updated” analysis, however, did not include estimates specifically of how many households in each income quintile faced tax increases. At least none that the public can see.

By all indications, however, there is no reason to expect March 2020’s numbers on households facing tax hikes under the Biden-Harris plan to have changed by September 2020. The specific provisions that drove these estimates in March 2020 were still there in September. The numbers also, it seems, line up. In March, they estimated that the plan would raise between $3.1 and $3.7 trillion in revenue over 10 years. In September, they estimated that the plan over 10 years would raise $3.4 trillion — the exact midpoint that represents the average of $3.1 and $3.7 trillion. At the quintile level, Penn Wharton changed its verbiage for describing average tax hikes between March and September. So far as I can discern red from orange and compare apples to apples, however, the tax hikes for each quintile in September’s analysis are within a tenth of a percentage point of what was reported in March. So what’s under the hood of September’s estimate appears more-or-less identical to what was there in March.

It's all a shell game. Biden says he is going to raise taxes on the rich, and mybe he will. What the rube, sheeple liberal, socialist, democrat, Biden supporters don't understand is it is all semantics. Sure, he might raise the TAX RATE on the wealthy, but that doesn't mean the wealthy will pay more taxes. It just means the wealthy's accountants will earn a little more finding and applying additional tax loopholes the lower income brackets can't avail themselves of. Yet the rubes will think their boy kept his promise and raised taxes to spread the wealth.

 

[TNHarley]

View attachment 401060


The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

No one can doubt that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris tax plan, if implemented, would affect households earning less than $400,000. On cue, during last Wednesday’s debate, Senator Harris and Vice President Biden sparred over the subject.

The answer? Most households would face a tax increase under the Biden-Harris tax plan. In fact, as the chart shows, unless your household income is less than $45,600, there is more than a 90 percent chance that the Biden-Harris plan, if enacted, will raise your taxes. In the exact middle of the household income distribution, over 95 percent of households can expect a tax increase if the Biden-Harris plan becomes law. Overall, 82.6 percent of American households can expect a tax increase.

These estimates come from the Penn Wharton Budget Model at the University of Pennsylvania’s Wharton School of Business, not exactly a friend of President Trump’s economic agenda.

When I was at President Trump’s White House Council of Economic Advisers, in fact, we explicitly criticized the Penn Wharton Budget Model’s estimates of the effects of the 2017 Tax Cuts and Jobs Act. If the Penn Wharton Budget Model produces estimates inconvenient for the Biden-Harris agenda, then, they’re likely to be inconvenient truths. Not results of cherry-picked assumptions.
.
.
Doubt tends to be the natural response to statistics that surprise. But if these numbers surprise you, your natural doubt may here lead you astray. A chasm between public perception and reality on tax policy, according the New York Times, emerged during President Trump’s first term. “If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it,” Ben Casselman and Jim Tankersley, economics journalists at the Times, wrote in April 2019, about the effects of the Tax Cuts and Jobs Act. “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law,” they conclude.

Now, Vice President Joe Biden is campaigning on a repeal of the legislation that produced a broad middle-class tax cut. He, like many who told you that the 2017 legislation didn’t cut your taxes, now claims this repeal won’t raise your taxes. Now, then, it seems Vice President Biden and Senator Harris are lying about the likely effects of their tax plan.

The Median Household Will Pay More under Biden-Harris Tax Plan | National Review

The Biden campaign says only the rich will pay more under his tax plan. The evidence suggests otherwise.

www.nationalreview.com

Look at your tax return for 2018 and 2019. Most of us who earned less than $400,000 paid less in federal taxes. Figure out the % paid, it was lower in most cases unless you had a big jump in earnings.

Then there's the tax rate increase on corporate taxes. How can anyone not know that an increase in costs for any company large or small gets passed on to some combination of the customer, suppliers, and employees? So, if Je Biden gets elected and has his way, most of us will get less money in our paychecks and spend more due to higher prices. At a time when the ecnmy is flundering due too the pandemic and most of the needless lockdowns.


Note the March 10, 2020 date on the graph.

Those estimates — produced in March 2020 as part of an analysis of the Biden-Harris tax agenda — were updated in September 2020 with a comprehensive look at the entire Biden-Harris economic agenda. The “updated” analysis, however, did not include estimates specifically of how many households in each income quintile faced tax increases. At least none that the public can see.

By all indications, however, there is no reason to expect March 2020’s numbers on households facing tax hikes under the Biden-Harris plan to have changed by September 2020. The specific provisions that drove these estimates in March 2020 were still there in September. The numbers also, it seems, line up. In March, they estimated that the plan would raise between $3.1 and $3.7 trillion in revenue over 10 years. In September, they estimated that the plan over 10 years would raise $3.4 trillion — the exact midpoint that represents the average of $3.1 and $3.7 trillion. At the quintile level, Penn Wharton changed its verbiage for describing average tax hikes between March and September. So far as I can discern red from orange and compare apples to apples, however, the tax hikes for each quintile in September’s analysis are within a tenth of a percentage point of what was reported in March. So what’s under the hood of September’s estimate appears more-or-less identical to what was there in March.

It's all a shell game. Biden says he is going to raise taxes on the rich, and mybe he will. What the rube, sheeple liberal, socialist, democrat, Biden supporters don't understand is it is all semantics. Sure, he might raise the TAX RATE on the wealthy, but that doesn't mean the wealthy will pay more taxes. It just means the wealthy's accountants will earn a little more finding and applying additional tax loopholes the lower income brackets can't avail themselves of. Yet the rubes will think their boy kept his promise and raised taxes to spread the wealth.
View attachment 401110 View attachment 401111

Yes. Remember at the debate when loopholes were brought up? His solution? Raise taxes.
He is an idiot or dishonest. Im shooting for both.

 

[Muhammed]

My taxes went up under Trump

Under Biden, I will regain my SALT tax deduction

No you won't. You would have to pay a lot more than that with cap and tax. And the only people it would benefit are super rich carbon traders. Even Obama admitted that the price of energy would skyrocket.

A Republican filibuster and Ted Kennedy's brain cancer saved us from having enrergy prices, and therefore the price of everything else, skyrocket.