Sun Devil 92
Diamond Member
- Apr 2, 2015
- 32,078
- 11,094
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- Banned
- #21
Joe's plans are well thought out and reasonable. Not "pie in the sky" dreams that could never pass muster, but doable real-world solutions.Unlike some of his opponents in the Democratic primaries (e.g., Elizabeth Warren and Bernie Sanders), Biden has not push for a "wealth tax." But that doesn't mean he is opposed to taxing the wealthy more heavily. For instance, to help close the income gap, he wants to raise the highest personal income rate back up to 39.6% (it was lowered to 37% by the 2017 tax reform law) and cap itemized deductions for the wealthiest Americans at 28%. He won't raise taxes for anyone making less than $400,000, though.
Taxing the wealthy isn't the only way to narrow the income gap. Reducing taxes for low- and middle-income taxpayers will help that effort, too. Along those lines, Biden has proposed:
- Expanding the childcare credit to $8,000;
- Forgiving student loan debt and excluding the forgiven amount from taxation;
- Expanding the work opportunity tax credit to include military spouses;
- Enhancing tax breaks for workers who are saving for retirement; and
- Creating tax credits for small businesses that offer retirement plans for their workers.
Biden never jumped on the Medicare-for-all bandwagon. Instead, he would rather keep and improve Obamacare. As part of his plan to do this,
To help protect Social Security, Biden would make more income from wealthier Americans subject to the Social Security payroll tax. (tramp keeps cutting the benefits of Medicare and SS)
The Biden Tax Plan: How the Build Back Better Act Could Affect Your Tax Bill
Depending on your income, the Build Back Better Act recently passed by the House could boost or cut your future tax bills.www.kiplinger.com
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you can read the rest. This is why he is winning.
Well done, Joe.
His plans have worked so far.
Wait...what plans.