Suckers! Trump Era Tax Cuts Are Set To Expire — Here’s How Much More You’ll Pay

[kyzr]

All the more reason to elect Trump and Congressional Republicans and get an extension.

If the dollar collapses the tax cuts are worthless.

 

[22lcidw]

The Fiat Currency is so much fun. Inflation is a mutha ph uka.

 

[westwall]

He made the tax cuts to end in 2025 because he thought he would get a second term. But now they about about to end.

When 2025 draws to a close, so will many of the sweeping Trump-era GOP tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017. While the legislation made some tax cuts to corporate profit permanent, lowered individual tax rates will expire on Dec. 31, 2025, and will revert to pre-TCJA levels.

MSN

Nice campaign ad for Trump, you dumb son of a bitch!

 

[CrusaderFrank]

Why are you happy about this? Do you not pay taxes? Lol

He gets the Reparation deduction

 

[Lisa558]

He gets the Reparation deduction

Brings up another question: will blacks get this money tax-free? SOMEONE has to pay the taxes on this money from whites to blacks. Can whites deduct the tax hit?

And before IM2 rushes in to say that the government pays, not whites….most tax revenues come from whites.

 

[Moonglow]

Re-elect Trump so he can make them permanent...

Congress can do it without him.

 

[DBA]

I bet the Democrats are in no hurry to extend the 10k cap on the SALT deduction, which was essentially a higher tax on wealthier people. They will let Trump's cap expire, which will be a tax cut for the wealthy. Hey, I am not complaining because it will help me. (A "rich" white Republican)

For those of you that don't understand the SALT deduction, it is simply the ability to write off your property tax on your federal income taxes. Wealthy people and/or people from high property tax states essentially pass the buck of their high tax state on to everyone else via a federal tax deduction. Trump capped this write-off at 10k. Once this expires, a person that pays 40k/yr in property tax can write the entire amount off of their income. Assuming an effective rate of 20%, that means they pay 8k less in federal income tax. With the cap, that same person would only be able to write off 10k, meaning they pay 2k less rather than 8k less.

The stupidity, gullibility and hypocrisy of the left never ceases to amaze me.

 

[Moonglow]

Brings up another question: will blacks get this money tax-free? SOMEONE has to pay the taxes on this money from whites to blacks. Can whites deduct the tax hit?

And before IM2 rushes in to say that the government pays, not whites….most tax revenues come from whites.

Yeah, only whites have money and only whites live in the US, racist much?

 

[Moonglow]

I bet the Democrats are in no hurry to extend the 10k cap on the SALT deduction, which was essentially a higher tax on wealthier people. They will let Trump's cap expire, which will be a tax cut for the wealthy. Hey, I am not complaining because it will help me. (A "rich" white Republican)

The stupidity, gullibility and hypocrisy of the left never ceases to amaze me.

I bet they keep the SALT deduction.

 

[DGS49]

Income taxes are one of the most confounding things that Congress has to deal with, and it is not made easier by the ignorance of the General Population, and the normal, unpredictable fluctuations of the economy. Two facts prevail:

• Higher tax rates do not necessarily result in more FIT revenue for the Government; and
• Lower tax rates do not necessarily result in less FIT revenue for the Government.

In fact, we have many historical records that show GREATER tax revenues with lowered rates and LOWER tax revenues with increased rates. So anyone saying, "We need higher rates to decrease the deficit," is ignorant. And usually it is a Democrat so we know going in that they are economically ignorant, and their REAL motivation is envy of people who earn a lot more than they do.

Wealthy people are mainly entrepreneurs and substantial investors, and these people have a great deal of latitude when it comes to recognizing and taking income. President Trump is the best example of this phenomenon, but he is only one of many thousands who do the same sorts of things to minimize their taxes.

THOSE PEOPLE - the ones of whom Democrats are most envious - couldn't care less about the expiration of Trump's tax cuts. They will be fine, and they will pay, on average about 17% of their taxable incomes to the Feds. They always do.

 

[Lesh]

All the more reason to elect Trump and Congressional Republicans and get an extension.

Ya gotta find this funny.

The very same people SCREAMING about how high the national debt is, are now demanding tax cuts … that would add MORE to the debt

Ya just can’t make this shit up folks

 

[LeftofLeft]

He made the tax cuts to end in 2025 because he thought he would get a second term. But now they about about to end.

When 2025 draws to a close, so will many of the sweeping Trump-era GOP tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017. While the legislation made some tax cuts to corporate profit permanent, lowered individual tax rates will expire on Dec. 31, 2025, and will revert to pre-TCJA levels.

MSN

Why are you snickering at a tax cut that benefited yourself as well?

 

[Thinker101]

 

[kyzr]

Laffer

Whore for the wealthy, like the other DC whores, sucking for shekels.

 

[JWBooth]

Congress can do it without him.

Those spineless bastards do nothing without a potus to lead the way

 

[Moonglow]

Those spineless bastards do nothing without a potus to lead the way

like impeachment?

 

[JWBooth]

like impeachment?

Wake me when they actually do it

 

[Moonglow]

Wake me when they actually do it

They did it twice a couple of years ago.

 

[Thinker101]

Whore for the wealthy, like the other DC whores, sucking for shekels.

They're all whores, it's just a matter of how much you're willing to give let them take.

 

[Nostra]

Congress can do it without him.

Why didn't Piglosi answer Schumer do it?

I'll tell ya.....they would rather tell their mindless cult ORANGE MAN BAD than actually do something.

And the cult chants ORANGE MAN BAD.