Mikeoxenormous
Diamond Member
- Thread starter
- #21
All i know is that with the way inflation is, and that minimum wages have gone up, a lot of middleclass incomes, went higher into the tax brackets, where they were god awful taxes.The Democrats would love to have a VAT but we don't have that in the USA yet. The closest thing to it are the federally and state imposed excise taxes. I think I read somewhere that 100 countries or so do have a VAT.
But if the Democrats do not renew, extend, make permanent TCJA (Trump era tax reform) almost all of us will see our taxes substantially increase at the end of next year. The one exception will be in the $231,251 to $578,125 income ranges that will see their taxes dropped a bit and that's the bracket a lot of our federal law makers are in.
Republicans will pretty much 100% choose to keep TCJA in effect, even make it permanent. Democrats not so much. Another reason to vote GOP across the board in November.