The Middle Class And The Poor Struggle With Bidenomics

[leftwinger]

There isnt a single policy the GOP has to help the middle class or the poor. This thread accurately points out that it is hard being poor in American and there is little support from the GOP to change that.

List of GOP poverty fighting bills submitted in the last 8 years:

1. None

But they did push hurting them:

1. Refusing to fund food for children in red states
2. Permanent Tax breaks for rich and companies with expiring cuts for middle class
3. Anti-union policies to keep wages for blue collar low.
4. Pushed to end child tax credit extension but traded it for corporate tax breaks
5. Passed a house bill to repeal the inflation act that allows Medicare to negotiate lower script prices
6. Support keeping minimum wage at $7.25
7. Original debt ceiling deal reduced food stamps for poor
8. THE LIST GOES ON AND ON AND ON AND ON

GOP has zero interest in solving problems for working class or poor but want to blame Joe for the GOPs lack of cooperation fighting it.

FUCK YOU IndecentThinker

nobody reads or believes your racial madcow bs. Stuff it 24-7 lying POS.

 

[citygator]

That reminds me, why hasn't Biden made the middle class tax cuts permanent yet?

He has.... glad you pay attention....

Biden Tax Proposals Would Correct Inequities Created by Trump Tax Cuts and Raise Additional Revenues

President Biden’s fiscal year 2024 tax proposal would impose new taxes on unearned income, while improving the child tax credit.

www.americanprogress.org

Key members of the new U.S. House of Representatives Republican majority have announced their intention to permanently extend the Tax Cuts and Jobs Act (TCJA),1 which the Republican-controlled Congress enacted in 2017. Signed into law by then-President Donald Trump, the TCJA slashed taxes for corporations and the wealthy and on the estates the wealthy pass on to their heirs. The law permanently cut the corporate tax rate and changed the way the United States imposes taxes on multinational corporations. It also included a temporary reduction in personal income tax rates along with other personal income tax changes that expire at the end of 2025.2 Overall, the measure was projected to increase the federal deficit by about $1.9 trillion over 10 years, according to the nonpartisan Congressional Budget Office.3 The wealthiest 5 percent of households received nearly half—42.6 percent—of the Trump tax cuts, with the top 0.1 percent receiving an average tax cut of $193,380 in 2018.4

Nearly all of the TCJA’s personal income tax changes sunset at the end of 2025. By including a sunset date, the bill was able to move through the Senate with no support from members of the Senate minority.5 This allowed the Senate to consider the bill using the reconciliation process, which requires that a measure not increase the deficit over the long term and that it fit within the reconciliation instructions—in this case, within the maximum deficit increase allowed by the budget resolution passed by the House and the Senate.6 Congressional leaders included an expiration date as a means to game the rules designed to impose fiscal discipline, as demonstrated by the fact that the vast majority of House Republicans approved a measure making the TCJA’s individual tax cuts permanent less than one year after the TCJA was signed into law.7

As part of his fiscal year 2024 budget proposal, President Joe Biden introduced a set of tax proposals that would reform and reverse some of the changes made by the TCJA and take ambitious steps toward ensuring that income from wealth is taxed comparably to that from work.8 Taken as a whole, the Biden proposal would substantially improve the equity of the nation’s tax code while raising revenues to support investments that will advance economic growth and opportunities and the well-being of American families. This issue brief examines and contrasts between the two sets of proposals, which offer starkly different visions for the future on the nation’s tax laws.

 

[Toddsterpatriot]

He has.... glad you pay attention....

Biden Tax Proposals Would Correct Inequities Created by Trump Tax Cuts and Raise Additional Revenues

President Biden’s fiscal year 2024 tax proposal would impose new taxes on unearned income, while improving the child tax credit.

www.americanprogress.org

Key members of the new U.S. House of Representatives Republican majority have announced their intention to permanently extend the Tax Cuts and Jobs Act (TCJA),1 which the Republican-controlled Congress enacted in 2017. Signed into law by then-President Donald Trump, the TCJA slashed taxes for corporations and the wealthy and on the estates the wealthy pass on to their heirs. The law permanently cut the corporate tax rate and changed the way the United States imposes taxes on multinational corporations. It also included a temporary reduction in personal income tax rates along with other personal income tax changes that expire at the end of 2025.2 Overall, the measure was projected to increase the federal deficit by about $1.9 trillion over 10 years, according to the nonpartisan Congressional Budget Office.3 The wealthiest 5 percent of households received nearly half—42.6 percent—of the Trump tax cuts, with the top 0.1 percent receiving an average tax cut of $193,380 in 2018.4

Nearly all of the TCJA’s personal income tax changes sunset at the end of 2025. By including a sunset date, the bill was able to move through the Senate with no support from members of the Senate minority.5 This allowed the Senate to consider the bill using the reconciliation process, which requires that a measure not increase the deficit over the long term and that it fit within the reconciliation instructions—in this case, within the maximum deficit increase allowed by the budget resolution passed by the House and the Senate.6 Congressional leaders included an expiration date as a means to game the rules designed to impose fiscal discipline, as demonstrated by the fact that the vast majority of House Republicans approved a measure making the TCJA’s individual tax cuts permanent less than one year after the TCJA was signed into law.7

As part of his fiscal year 2024 budget proposal, President Joe Biden introduced a set of tax proposals that would reform and reverse some of the changes made by the TCJA and take ambitious steps toward ensuring that income from wealth is taxed comparably to that from work.8 Taken as a whole, the Biden proposal would substantially improve the equity of the nation’s tax code while raising revenues to support investments that will advance economic growth and opportunities and the well-being of American families. This issue brief examines and contrasts between the two sets of proposals, which offer starkly different visions for the future on the nation’s tax laws.

He has.... glad you pay attention....

He hasn't made them permanent. You're not paying attention.

The wealthiest 5 percent of households received nearly half—42.6 percent—of the Trump tax cuts,

They pay over 60% of the income tax.

Nearly all of the TCJA’s personal income tax changes sunset at the end of 2025.

Only because the Dems were twats.

take ambitious steps toward ensuring that income from wealth is taxed comparably to that from work

It's not already?

Let me know when he makes the middle-class tax cuts permanent.

 

[BrokeLoser]

Right wingers dancing on the graves of the poor make me want to puke.

You jerks would stand in the way of anything meant to help these people.

FRAUDS. OP is a fraud. Topic is fraudulent.

Meanwhile the noble wackos who proclaim to care continue stacking millions of desperate Mexicans on top of Americas poor…
Remember, these same wackos always claim to be looking out for women while they champion the men in dresses who run women from their athletics.

 

[citygator]

Right wingers dancing on the graves of the poor make me want to puke.

You jerks would stand in the way of anything meant to help these people.

FRAUDS. OP is a fraud. Topic is fraudulent.

Perfect stated.

 

[citygator]

He has.... glad you pay attention....

He hasn't made them permanent. You're not paying attention.

The wealthiest 5 percent of households received nearly half—42.6 percent—of the Trump tax cuts,

They pay over 60% of the income tax.

Nearly all of the TCJA’s personal income tax changes sunset at the end of 2025.

Only because the Dems were twats.

take ambitious steps toward ensuring that income from wealth is taxed comparably to that from work

It's not already?

Let me know when he makes the middle-class tax cuts permanent.

Capital growth is taxed at a much lower level than labor AND that tax is delayed decades and even centuries.

 

[BrokeLoser]

Perfect stated.

Meanwhile the noble wackos who proclaim to care continue stacking millions of desperate Mexicans on top of Americas poor…
Remember, these same wackos always claim to be looking out for women while they champion the men in dresses who run women from their athletics.

 

[citygator]

Meanwhile the noble wackos who proclaim to care continue stacking millions of desperate Mexicans on top of Americas poor…
Remember, these same wackos always claim to be looking out for women while they champion the men in dresses who run women from their athletics.

OMG you are an obsessed homophobe. That’s all you pussies worry about.

 

[Toddsterpatriot]

Capital growth is taxed at a much lower level than labor AND that tax is delayed decades and even centuries.

It would be stupid to tax unrealized capital gains.

 

[Crepitus]

The young and the poor and the middle class are victims of record credit card debt caused by Bidenomics. The left's policies are making it so these people can't live without having to charge everyday expenses and are getting hammered by Biden's increasing interest rates to curb the inflation that Biden's policies have caused. No wonder the young and the poor and the minorities and the middle class are increasingly not supporting Biden. But Biden & Co continue telling Americans that everything's going just great. Biden & Company's policies are contributing to wealth inequality and social injustice. The rich are getting richer and the poor are getting poorer under Bidenomics.

Credit card debt in the U.S. soars to a new record. Here's why.

Credit card debt hit a record $1.13 trillion at the end of 2023, while delinquencies have surged more than 50% from a year ago.

finance.yahoo.com

SOrry to hear you're doing poorly.

 

[leftwinger]

OMG you are an obsessed homophobe. That’s all you pussies worry about.

none of “US” are filming naked queers on hands and knees in Congress packing fudge to ram down American citizen and childrens throats you sick sad commee “anything goes” POS.

 

[citygator]

none of “US” are filming naked queers on hands and knees in Congress packing fudge to ram down American citizen and childrens throats you sick sad commee “anything goes” POS.

More obsession. The GOP leader in Florida is in a threesome abuse scandal. Go get your jollies there.

 

[Foxfyre]

The young and the poor and the middle class are victims of record credit card debt caused by Bidenomics. The left's policies are making it so these people can't live without having to charge everyday expenses and are getting hammered by Biden's increasing interest rates to curb the inflation that Biden's policies have caused. No wonder the young and the poor and the minorities and the middle class are increasingly not supporting Biden. But Biden & Co continue telling Americans that everything's going just great. Biden & Company's policies are contributing to wealth inequality and social injustice. The rich are getting richer and the poor are getting poorer under Bidenomics.

Credit card debt in the U.S. soars to a new record. Here's why.

Credit card debt hit a record $1.13 trillion at the end of 2023, while delinquencies have surged more than 50% from a year ago.

finance.yahoo.com

The other thing the article mentions is that many of those who were better prepared to weather the inflation forced on us have seen their savings significantly shrink and some have had to tap their retirement accounts. The economists can try to sugarcoat Bidenomics with glowing reports of job growth, increase in incomes, etc. but few bother to say that a whole lot of that was just the economy coming back after so much of it was shut down due to COVID. Without that they couldn't paint it as so favorable. And they applaud that inflation has slowed to something over 3% but fail to report that prices have not come down for the average American and adding 3% to those highly inflated prices makes them even more painful.

The Marxists among us can praise Biden economics all they want, but the mom or dad struggling to fit bread and milk into the family grocery budget when wages are not keeping pace with higher prices are not going to be impressed. That's why Trump is starting to look better and better to a lot of folks who don't like him personally but remember what the economy was like when he was President.

 

[Independent thinker]

There isnt a single policy the GOP has to help the middle class or the poor. This thread accurately points out that it is hard being poor in American and there is little support from the GOP to change that.

List of GOP poverty fighting bills submitted in the last 8 years:

1. None

But they did push hurting them:

1. Refusing to fund food for children in red states
2. Permanent Tax breaks for rich and companies with expiring cuts for middle class
3. Anti-union policies to keep wages for blue collar low.
4. Pushed to end child tax credit extension but traded it for corporate tax breaks
5. Passed a house bill to repeal the inflation act that allows Medicare to negotiate lower script prices
6. Support keeping minimum wage at $7.25
7. Original debt ceiling deal reduced food stamps for poor
8. THE LIST GOES ON AND ON AND ON AND ON

GOP has zero interest in solving problems for working class or poor but want to blame Joe for the GOPs lack of cooperation fighting it.

FUCK YOU IndecentThinker

If Republicans did absolutely zero to help the middle class and the poor these people would be better off than with Democrats in charge.

 

[Independent thinker]

SOrry to hear you're doing poorly.

Sorry to hear you don't give a shit about all of those who are, which is why Biden's numbers are so low and Trump leads in the polls. Americans are believing that Trump cares more about them than Biden and the left do, and it is because of attitudes of the left, just as in your post. You refuse to listen to all of those who are having a hard time, instead telling them that they are wrong, everything's going just great.

 

[initforme]

Some believe the poor are a drain on society. The fact is they really aren't whatsoever.

 

[Crepitus]

Sorry to hear you don't give a shit about all of those who are, which is why Biden's numbers are so low and Trump leads in the polls. Americans are believing that Trump cares more about them than Biden and the left do, and it is because of attitudes of the left, just as in your post. You refuse to listen to all of those who are having a hard time, instead telling them that they are wrong, everything's going just great.

Who is?

I can't find anyone who is. Introduce me to someone who is.

 

[Fort Fun Indiana]

They pay over 60% of the income tax.

Far too low.

 

[yidnar]

More nonsense from a Trump sucker.

and even more nonsense from a cock sucker .

 

[Concerned American]

nothing wrong with school uniforms.

Sorry, I don't agree with brown shirts--if you agree with regimentation and indoctrination in our schools, you aren't who I gave you credit for being.