Biden won't raise taxes, but.

[Woodznutz]

Allowing the Trump tax cuts to 'sunset' will have the effect of raising the taxes on everyone. My taxes will increase by about $2200/yr.

 

[Crepitus]

Allowing the Trump tax cuts to 'sunset' will have the effect of raising the taxes on everyone. My taxes will increase by about $2200/yr.

Not unless you make over $150K yearly.

 

[1srelluc]

Not unless you make over $150K yearly.

Go be poor someplace else.

 

[Crepitus]

Go be poor someplace else.

I'm retired, I don't earn wages at all.

 

[1srelluc]

I'm retired, I don't earn wages at all.

Then you are not doing retirement right....Income is income.

 

[Crepitus]

Then you are not doing retirement right....Income is income.

I have income, but it isn't wages.

 

[1srelluc]

I have income, but it isn't wages.

Is your EBT card counted as income?

 

[jotathought]

I'm retired, I don't earn wages at all.

So you aren't paying your fair share?

 

[Meister]

I have income, but it isn't wages.

"Income" is taxed, unless you have federal tax exempt municipal bonds.

 

[Woodznutz]

Not unless you make over $150K yearly.

My mistake. Trumps tax cut lowered my tax by 2 percent. On $89,000 taxable income that's $1780.

 

[Crepitus]

Is your EBT card counted as income?

Lol, sure, let's go with that, kay?

 

[Crepitus]

So you aren't paying your fair share?

Vote to raise the capital gains tax.

I did.

 

[Crepitus]

"Income" is taxed, unless you have federal tax exempt municipal bonds.

Never said it wasn't.

You dropping into a conversation you have read

 

[Meister]

Vote to raise the capital gains tax.

I did.

Raise it to what?

 

[Crepitus]

My mistake. Trumps tax cut lowered my tax by 2 percent. On $89,000 taxable income that's $1780.

YOur tax preparer can't come up with another couple grand in deductions?

 

[Crepitus]

My mistake. Trumps tax cut lowered my tax by 2 percent. On $89,000 taxable income that's $1780.

The whole cut amounted to half that for your income.

The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises | Center on Budget and Policy Priorities

Policymakers and the public should understand that the 2017 Trump tax law was skewed to the rich, was expensive and eroded the U.S. revenue base, and failed to deliver promised economic benefits. A 2025 course correction is needed.

www.cbpp.org

 

[Meister]

Never said it wasn't.

You dropping into a conversation you have read

I guess I just didn't see the relevancy of your post.
Taxes ARE going to go up under Biden....a promise broken if it comes to fruition.

 

[Crepitus]

Raise it to what?

Level with the wage tax brackets.

 

[jotathought]

Vote to raise the capital gains tax.

I did.

Your income is other than wages .. so the same / similar scenario as the "ultra rich" who aren't paying their fair share.

 

[1srelluc]

Level with the wage tax brackets.

Why do I need to give the fed .gov a extra near $1800.00?

They don't have a revenue problem, they have a spending problem.

Just like Ham-Beasts don't have anything but a spoon-n-fork problem.