Team Biden Targets Trump On His Tax Cuts For The Rich

[skews13]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

 

[Mikeoxenormous]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

Wealth envy again? Did the Tax cuts help out Hunter Biden who DIDNT pay any taxes on his million dollar income?

Overtaxing the rich: A cautionary tale

While it might not be politically correct to suggest that the rich should get the lion’s share of tax breaks, let me share a story that provides food for thought

www.theglobeandmail.com

The cost of dinner

Each and every day, 10 men go to a restaurant for dinner together. The bill for all 10 comes to $100 each day. If the bill were paid the way we pay our taxes, the first four would pay nothing; the fifth would pay $1; the sixth would pay $3; the seventh $7; the eighth $12; the ninth $18. The 10th man – the richest – would pay $59. Although the 10 men didn't share the bill equally, they all seemed content enough with the arrangement – until the restaurant owner threw them a curve.

"You're all very good customers," the owner said, "so I'm going to reduce the cost of your daily meal by $20. I'm going to charge you just $80 in total." The 10 men looked at each other and seemed genuinely surprised, but quite happy about the news.

The first four men, of course, are unaffected because they weren't paying anything for their meals anyway. They'll still eat for free. The big question is how to divvy up the $20 in savings among the remaining six in a way that's fair for each of them. They realized that $20 divided by six is $3.33, but if they subtract that amount from each person's share, then the fifth and sixth men would end up being paid to eat their meals. The restaurant owner suggested that it would be fair to reduce each person's bill by roughly the same percentage, and he proceeded to work out the amounts that each should pay.

The results? The fifth man paid nothing, the sixth pitched in $2, the seventh paid $5, the eighth paid $9, the ninth paid $14, leaving the 10th man with a bill of $50 instead of $59. Outside the restaurant, the men began to compare their savings. "I only got one dollar out of the $20," said the sixth man, pointing to the 10th man, "and he got $9!" "Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too! It's not fair that he got nine times more than me!" "That's true," shouted the seventh man. "Why should he get back $9 when I only got $2? The rich get all the breaks!" "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"

The nine outraged men surrounded the 10th and brutally assaulted him. The next day, he didn't show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they faced a problem that they hadn't faced before. They were $50 short.

The moral

There are a couple of lessons to be learned here. The first is an observation from my wife: If the 10 individuals had been women, they probably would have figured things out. But in all seriousness, I'm going to suggest that the approach taken by the restaurant owner in the story is exactly the right approach to divvying up tax cuts. It's how our system should work. The people who pay the highest taxes should get the greatest relief from a tax cut, in absolute dollars.

The fact is, if you overtax the rich, they just might not show up for dinner next time. After all, there are plenty of good restaurants around the world.

 

[Mac1958]

Perhaps the GQP could, instead of just tossing red meat out to the base, shock us all and tell us exactly where their SPENDING CUTS will be, and HOW MUCH they will be -- and ONCE THEY'RE DONE, they can concentrate on the OTHER side of the ledger.

A little fiscal responsibility. That would be a nice change.

 

[Rambunctious]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

Who paid your salary your whole life?... a poor man or a rich man?...

 

[Harry Dresden]

Perhaps the GQP could, instead of just tossing red meat out to the base, shock us all and tell us exactly where their SPENDING CUTS will be, and HOW MUCH they will be -- and ONCE THEY'RE DONE, they can concentrate on the OTHER side of the ledger.

A little fiscal responsibility. That would be a nice change.

you mean for the democrats too?...

 

[C_Clayton_Jones]

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

And of course Trump didn’t cause all this damage by himself – he had the help of a Republican-controlled Congress.

Voting for a Republican for president – and Republicans for Congress – is the definition of insanity.

 

[Oddball]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

Everybody got a tax cut, you lying fucking douchebag.

 

[Oddball]

And of course Trump didn’t cause all this damage by himself – he had the help of a Republican-controlled Congress.

Voting for a Republican for president – and Republicans for Congress – is the definition of insanity.

He had a democrat controlled congress for two years, dickless.

 

[jbrownson0831]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

Poor whiny skrewey....those "rich" are all Dimtards, your own ilk!

 

[Harry Dresden]

And of course Trump didn’t cause all this damage by himself – he had the help of a Republican-controlled Congress.

Voting for a Republican for president – and Republicans for Congress – is the definition of insanity.

let me add what your not allowed to say jones....voting for democrats the same thing....

 

[jbrownson0831]

And of course Trump didn’t cause all this damage by himself – he had the help of a Republican-controlled Congress.

Voting for a Republican for president – and Republicans for Congress – is the definition of insanity.

Actually, Mrs. Jones....your picture is in the dictionary under "insanity"....

 

[LAUGHatLEFTISTS]

Perhaps the GQP could, instead of just tossing red meat out to the base, shock us all and tell us exactly where their SPENDING CUTS will be, and HOW MUCH they will be -- and ONCE THEY'RE DONE, they can concentrate on the OTHER side of the ledger.

A little fiscal responsibility. That would be a nice change.

Q….BOO!

 

[Harry Dresden]

Actually, Mrs. Jones....your picture is in the dictionary under "insanity"....

under political coward too....

 

[Oddball]

Q….BOO!

The moonbats talk more a bout Q than do the few remaining Qtards.

 

[jc456]

Perhaps the GQP could, instead of just tossing red meat out to the base, shock us all and tell us exactly where their SPENDING CUTS will be, and HOW MUCH they will be -- and ONCE THEY'RE DONE, they can concentrate on the OTHER side of the ledger.

A little fiscal responsibility. That would be a nice change.

well you know the OP is fking incorrect and it's envy-itis.

 

[Seymour Flops]

Wow, that’s an oldie!

 

[Independentthinker]

The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.

“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.

Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.

Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.

And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”

Team Biden targets Trump on his tax cuts for the rich

After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...

www.dailykos.com

D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.

Democrats are so funny. They will eliminate all the tax cuts for the poorer and middle class, claiming the Trump tax cuts mainly benefitted the rich.

 

[jc456]

Democrats are so funny. They will eliminate all the tax cuts for the poorer and middle class, claiming the Trump tax cuts mainly benefitted the rich.

it's their con game, known by many of us. The suck-as comply like the little sheep they are.

 

[Billiejeens]

Who paid your salary your whole life?... a poor man or a rich man?...

Government

 

[Billiejeens]

you mean for the democrats too?...

No
The Democrats don't even pretend that they think that we need spending cuts