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Biden's New Tax Proposals (Poll)

Do you support any of the following Xiden tax policies?

  • 12.4% tax on "joint" incomes over $400,000 to fund Social Security

    Votes: 8 72.7%
  • Increase the top tax (over $400,000) "joint" rate from 37% to 39.6%

    Votes: 10 90.9%
  • Tax capital gains and divisdends as ordinary income for joint incomes over $1million

    Votes: 8 72.7%
  • Caps itemized deductions for joint incomes over $400,000

    Votes: 4 36.4%

  • Total voters
    11

Oddball

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1. Actuaries say it is not a "ponzi scheme". So who says it is?

2. SS can be "fixed", so says Warren Buffett. I like removing the cap and increasing the tax by 0.50%.

3. If SS is ended what will retirees live on? It is not scaremongering. I paid into SS and I want my fucking benefit.
Because if it's one group of people whose numbers can be trusted beyond any reproach, it's gubmint accountants, amiright?

WTF happened to you?
 

LordBrownTrout

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Why would anyone want to end SS? Its been one of the most successful government programs ever.
You want to see seniors starve or live under bridges?
Put ending SS in your political ads, I double-dare you.

I don't think we should end SS. Everyone should be given an opt in or out decision. It is a scam though.
 

KissMy

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Hahahahaha you Dimmers are so funny.....Pinochijoe is printing up more than that each week in his basement. Gotta pay you dregs to stay home don't we Looneytunes??
Biden added 1.1 million Jobs in July.
Trump lost 306k Jobs in December.
Biden holds the Average Job Creating Record!!!!
fredgraph.png
 

Oddball

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Biden added 1.1 million Jobs in July.
Trump lost 306k Jobs in December.
Biden holds the Average Job Creating Record!!!!
fredgraph.png
The jobs "created" over the last several months have primarily been from forcibly shuttered small businesses opening back up again....Your senile, economically illiterate empty husk of a "president" had nothing to do with that.

CuckooClock.gif
 
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kyzr

kyzr

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How about this Moon Bat?

No more new taxes.

The fucking government stops spending so much money and we use existing revenue to pay down the debt. Then we reduce taxes and then everybody has more spendable income and the economy booms..

That sounds great. Much better than a stupid bloated debt ridden out of control monstrosity that need to be fed more of our money.
1. Its new taxes, or we just keep printing money. Printing money worked well whenever that's been tried, right?
2. Put up a budget, a real budget saying what programs you'd cut, you won't cut much if anything.
3. There is no existing revenue, its all committed, including borrowing $billions, duh.
4. You can cut taxes, like Trump, and all you do is raise the Debt. The US economy is run by globalists.
5. When the Fed starts raising interest rates you will see how stupid your ideas are. Interest on the Debt will crowd out all discretionary spending.
 

jbrownson0831

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Biden added 1.1 million Jobs in July.
Trump lost 306k Jobs in December.
Biden holds the Average Job Creating Record!!!!
fredgraph.png
Biden adds debt.....a government job is simply welfare holding a sign, just like Obammy and his stupid tax funded jobs. Real job creation comes from the companies and businesses that are supported instead of penalized and taxed into sending their work overseas. Are you following dimmer??
 

jbrownson0831

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The jobs "created" over the last several months have primarily been from forcibly shuttered small businesses opening back up again....Your senile, economically illiterate empty husk of a "president" had nothing to do with that.

View attachment 534553
Good point, and they go unfilled because Sleepy Joe pays the dregs to stay home.
 
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kyzr

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Because if it's one group of people whose numbers can be trusted beyond any reproach, it's gubmint accountants, amiright?

WTF happened to you?
I'm not fucking around with SS & Medicare, I want them fixed ASAP, whichever party can do that has my vote.

1. Put up a link proving SS is a ponzi scheme, or you're lying.
2. SS has worked fine for 85-years, I want it fixed, it can be fixed, so says Warren Buffett, and AARP.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx

https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes

https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html
 

KissMy

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Biden adds debt.....a government job is simply welfare holding a sign, just like Obammy and his stupid tax funded jobs. Real job creation comes from the companies and businesses that are supported instead of penalized and taxed into sending their work overseas. Are you following dimmer??
You Idiot, those are all Private Sector Jobs Biden Created!
 

pknopp

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I would attempt to answer but I have no idea who Xiden is and why he/she affects tax policy.
 

Votto

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We've been debating "fixes" to SS, on another thread. Whiners didn't like my 0.50% bump and removing the cap. Lets vote on some of the Xiden tax plan proposals, only the BOLD items below are included in this poll. I still don't see Xiden's "fix" for Medicare which will be bankrupt in 2024, WTF ?????????
I do like the incentives to manufacture in the US and dis-incentives to offshore manufacturing.

  • Imposes a 12.4 percent Old-Age, Survivors, and Disability Insurance (Social Security) payroll tax on income earned above $400,000, evenly split between employers and employees. This would create a “donut hole” in the current Social Security payroll tax, where wages between $137,700, the current wage cap, and $400,000 are not taxed.[1]
  • Reverts the top individual income tax rate for taxable incomes above $400,000 from 37 percent under current law to the pre-Tax Cuts and Jobs Act level of 39.6 percent.
  • Taxes long-term capital gains and qualified dividends at the ordinary income tax rate of 39.6 percent on income above $1 million and eliminates step-up in basis for capital gains taxation.[2]
  • Caps the tax benefit of itemized deductions to 28 percent of value for those earning more than $400,000, which means that taxpayers earning above that income threshold with tax rates higher than 28 percent would face limited itemized deductions.
  • Restores the Pease limitation on itemized deductions for taxable incomes above $400,000.
  • Phases out the qualified business income deduction (Section 199A) for filers with taxable income above $400,000.
  • Expands the Earned Income Tax Credit (EITC) for childless workers aged 65+; provides renewable-energy-related tax credits to individuals.
  • Expands the Child and Dependent Care Tax Credit (CDCTC) from a maximum of $3,000 in qualified expenses to $8,000 ($16,000 for multiple dependents) and increases the maximum reimbursement rate from 35 percent to 50 percent.
  • For 2021 and as long as economic conditions require, increases the Child Tax Credit (CTC) from a maximum value of $2,000 to $3,000 for children 17 or younger, while providing a $600 bonus credit for children under 6. The CTC would also be made fully refundable, removing the $2,500 reimbursement threshold and 15 percent phase-in rate.[3]
  • Reestablishes the First-Time Homebuyers’ Tax Credit, which was originally created during the Great Recession to help the housing market. Biden’s homebuyers’ credit would provide up to $15,000 for first-time homebuyers.[4]
  • Expands the estate and gift tax by restoring the rate and exemption to 2009 levels.

The Biden tax plan also includes the following proposed business tax changes: (NOT INCLUDED HERE)

Other proposals not modeled due to a lack of detailed information include:
  • Imposing a new 10 percent surtax on corporations that “offshore manufacturing and service jobs to foreign nations in order to sell goods or provide services back to the American market.”[8] This surtax would raise the effective corporate tax rate on this activity up to 30.8 percent.
  • Establishing an advanceable 10 percent “Made in America” tax credit for activities that restore production, revitalize existing closed or closing facilities, retool facilities to advance manufacturing employment, or expand manufacturing payroll.[9]
  • Equalizing the tax benefits of traditional retirement accounts (such as 401(k)s and individual retirement accounts) by providing a refundable tax credit in place of traditional deductibility.[10]
  • Eliminating certain real estate industry tax provisions.
  • Expanding the Affordable Care Act’s premium tax credit.
  • Creating a refundable renter’s tax credit capped at $5 billion per year, aimed at holding rent and utility payments at 30 percent of monthly income.
  • Increasing the generosity of the Low-Income Housing Tax Credit.
Apparently you missed the Afghanistan fiasco

The Presidency of Joe Biden is now over.

He can resign if he so chooses. If not, no one really cares either way.
 

Flash

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1. Its new taxes, or we just keep printing money. Printing money worked well whenever that's been tried, right?
2. Put up a budget, a real budget saying what programs you'd cut, you won't cut much if anything.
3. There is no existing revenue, its all committed, including borrowing $billions, duh.
4. You can cut taxes, like Trump, and all you do is raise the Debt. The US economy is run by globalists.
5. When the Fed starts raising interest rates you will see how stupid your ideas are. Interest on the Debt will crowd out all discretionary spending.


You are really a dumbass, aren't you? Are you dumb or simply confused?

The filthy ass Federal government collects about $3-4 trillion in revenue and then the dumbshits goes out and borrows another trillion or so,

In addition to that the States and Locals do about the same.

We need to stop spending so much money on the cost of government. The answer is never more government and more taxes. That is just plain stupid.

We need to use the existing revenue to fund the necessary government functions like defense, courts, police etc and then stop spending money on unnecessary things, like the welfare state. No more welfare, subsidies, grants, bailouts or entitlements.

Pay down the debt and then reduce taxes. Every American would be better off except for the welfare queens sucking on the teat of big government.
 
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kyzr

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Apparently you missed the Afghanistan fiasco

The Presidency of Joe Biden is now over.

He can resign if he so chooses. If not, no one really cares either way.
I hope you're right. We'll see how 2022 and 2024 play out.
 

Missourian

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Anathema

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How you going to pay benefits if everyone under 50 is no longer paying taxes on it?
Sorry I meant the future payouts for anyone under 50 currently. We’d still be paying in.
 
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kyzr

kyzr

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You are really a dumbass, aren't you? Are you dumb or simply confused?

The filthy ass Federal government collects about $3-4 trillion in revenue and then the dumbshits goes out and borrows another trillion or so,

In addition to that the States and Locals do about the same.

We need to stop spending so much money on the cost of government. The answer is never more government and more taxes. That is just plain stupid.

We need to use the existing revenue to fund the necessary government functions like defense, courts, police etc and then stop spending money on unnecessary things, like the welfare state. No more welfare, subsidies, grants, bailouts or entitlements.

Pay down the debt and then reduce taxes. Every American would be better off except for the welfare queens sucking on the teat of big government.
1. You don't have any real ideas where you'd cut the Federal Budget, do you? You are a "stupid bullshitter".
2. Here is how I'd balance the Federal Budget, and start paying down the $30T Debt:
  • Hire another "Grace Commission" to audit and fix the Federal budget deficit

  • Cut Spending: [CUT $625b a year]
    1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
    2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
    3. Cut Welfare $200b & Medicaid $200b (about half)
    4. Cut education $20b (state responsibility)

    Current US Defense Spending to 2017 levels:
    Year Military Veterans
    2017 $598.70 billion $178.00 billion

    2018 $631.20 billion $180.40 billion
    2019 $684.60 billion $202.10 billion
    2020 $737.90 billion $219.20 billion

  • To cover the $900b budget deficit the following taxes need to be raised:
    1. Raise the top tax rate about 7% above 2016 levels +$400b
    2. Implement a new 3% Fed sales tax +$400b
    3. Implement a new transaction tax on all stocks & bonds
    Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
    4. Implement a new remittances tax/fee on all money sent out of the US
    Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year

  • Reform entitlements, Medicare & Social Security, currently projected to be insolvent:
  • To fix SS remove the cap and increase the tax 0.50%
 

Anathema

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Why would anyone want to end SS? Its been one of the most successful government programs ever.
You want to see seniors starve or live under bridges?
Put ending SS in your political ads, I double-dare you.
I want it ended immediately. It’s an unconstitutional and immoral program and always has been. I sent the Social Security Administration a certified letter in 1996 indicating I will not accept money from them if/when I ever reach retirement age. Same with Medicare. My reasoning…

PERSONAL RESPONSIBILITY
 

Oddball

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I'm not fucking around with SS & Medicare, I want them fixed ASAP, whichever party can do that has my vote.

1. Put up a link proving SS is a ponzi scheme, or you're lying.
2. SS has worked fine for 85-years, I want it fixed, it can be fixed, so says Warren Buffett, and AARP.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx

https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes

https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html
Welfare for the demographic that has the most accumulated wealth.

And I don't GAF about the denial of gubmint shills....Ask one simple question: what is OASI "invested" in?

If the "return on investment" is nothing more than the people on the back end paying into the fund, to pay the people drawing out, it's the very definition of a Ponzi scheme.
 

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