When Biden says he will undo the Trump tax cuts, it is to benefit THE WEALTHY IN BLUE STATES....NOT YOU

[ColonelAngus]

This is one of the biggest lies of the Bidem campaign. The Trump tax cuts REMOVED deductions for State and Local Taxes (SALT). This hit the rich in high tax blue states the worst. For those without a degree in Finance and Accounting as I have, and may not get it. I will show a simple example.


With Salt deductions.
Earnings: $1,000,000
State and Local Taxes paid:$150,000
(Federal Taxes due: $300,000)
Federal Taxes Paid: $150,000
Net Income: $700,000

Without SALT DEDUCTIONS:
Earnings: $1,000,000
State and Local Taxes Paid: $150,000
Federal Taxes Paid: $300,000
Net income: $550,000

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

When the Trump Tax cuts are repealed, it is a HUUUUUUUUUUUUUUGE tax cut for rich people in blue states.

You are all paying less in taxes than you were before the tax cuts. Look at your total taxes paid as a percentage of your salary before and after the cuts. Biden and the Dems are LYING when they say the Trump tax cuts only help the wealthy.

THINK FOR YOURSELVES, PLEASE.

 

[Claudette]

I like the tax cuts. Those tax cuts pour more money into the Fed coffers and the economy than tax raises ever did. People and companies have more money to spend. Great for the economy.

Kennedy, Reagan and Trump knew and know this. The Dems are too pigheaded to actually say tax cuts are better that raising taxes.

You can't fix stupid.

 

[colfax_m]

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

Deductions and credits are not the same thing. Deductions lower taxable income, tax credits offset liability dollar for dollar.

 

[Bobob]

This is one of the biggest lies of the Bidem campaign. The Trump tax cuts REMOVED deductions for State and Local Taxes (SALT). This hit the rich in high tax blue states the worst. For those without a degree in Finance and Accounting as I have, and may not get it. I will show a simple example.


With Salt deductions.
Earnings: $1,000,000
State and Local Taxes paid:$150,000
(Federal Taxes due: $300,000)
Federal Taxes Paid: $150,000
Net Income: $700,000

Without SALT DEDUCTIONS:
Earnings: $1,000,000
State and Local Taxes Paid: $150,000
Federal Taxes Paid: $300,000
Net income: $550,000

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

When the Trump Tax cuts are repealed, it is a HUUUUUUUUUUUUUUGE tax cut for rich people in blue states.

You are all paying less in taxes than you were before the tax cuts. Look at your total taxes paid as a percentage of your salary before and after the cuts. Biden and the Dems are LYING when they say the Trump tax cuts only help the wealthy.

THINK FOR YOURSELVES, PLEASE.

Biden has said on numerous occasions that he will increase taxes on those who make $400,000 or more. period.
Those making under $400,000 will not be affected. Trump is a masterful liar about most of his utterances and you continue to eat his rhetoric for lunch. Keep deflecting.

 

[Taz]

This is one of the biggest lies of the Bidem campaign. The Trump tax cuts REMOVED deductions for State and Local Taxes (SALT). This hit the rich in high tax blue states the worst. For those without a degree in Finance and Accounting as I have, and may not get it. I will show a simple example.


With Salt deductions.
Earnings: $1,000,000
State and Local Taxes paid:$150,000
(Federal Taxes due: $300,000)
Federal Taxes Paid: $150,000
Net Income: $700,000

Without SALT DEDUCTIONS:
Earnings: $1,000,000
State and Local Taxes Paid: $150,000
Federal Taxes Paid: $300,000
Net income: $550,000

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

When the Trump Tax cuts are repealed, it is a HUUUUUUUUUUUUUUGE tax cut for rich people in blue states.

You are all paying less in taxes than you were before the tax cuts. Look at your total taxes paid as a percentage of your salary before and after the cuts. Biden and the Dems are LYING when they say the Trump tax cuts only help the wealthy.

THINK FOR YOURSELVES, PLEASE.

So only Trump is allowed to give tax cuts to the rich?

 

[Bobob]

I like the tax cuts. Those tax cuts pour more money into the Fed coffers and the economy than tax raises ever did. People and companies have more money to spend. Great for the economy.

Kennedy, Reagan and Trump knew and know this. The Dems are too pigheaded to actually say tax cuts are better that raising taxes.

You can't fix stupid.

You can't fix stupid because nothing is being poured into the Fed coffers. Actually, the deficit is rapidly increasing due to those tax cuts for the wealthy who are spending none of it on you and are spending it on the stock market.

 

[Juicin]

This is one of the biggest lies of the Bidem campaign. The Trump tax cuts REMOVED deductions for State and Local Taxes (SALT). This hit the rich in high tax blue states the worst. For those without a degree in Finance and Accounting as I have, and may not get it. I will show a simple example.


With Salt deductions.
Earnings: $1,000,000
State and Local Taxes paid:$150,000
(Federal Taxes due: $300,000)
Federal Taxes Paid: $150,000
Net Income: $700,000

Without SALT DEDUCTIONS:
Earnings: $1,000,000
State and Local Taxes Paid: $150,000
Federal Taxes Paid: $300,000
Net income: $550,000

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

When the Trump Tax cuts are repealed, it is a HUUUUUUUUUUUUUUGE tax cut for rich people in blue states.

You are all paying less in taxes than you were before the tax cuts. Look at your total taxes paid as a percentage of your salary before and after the cuts. Biden and the Dems are LYING when they say the Trump tax cuts only help the wealthy.

THINK FOR YOURSELVES, PLEASE.

You're trying to tell me that biden's tax plan will be flatter than trumps?

I don't believe you, lol

Although I do believe you picked the one instance where Trump has actually raised taxes on the rich even tho he's spent like a drunken sailor over a cold, so good for you.

I'm all for fucking over rich peopel everywhere but the rest of the tax policy is a bit more important. lol

 

[Dont Taz Me Bro]

This is one of the biggest lies of the Bidem campaign. The Trump tax cuts REMOVED deductions for State and Local Taxes (SALT). This hit the rich in high tax blue states the worst. For those without a degree in Finance and Accounting as I have, and may not get it. I will show a simple example.


With Salt deductions.
Earnings: $1,000,000
State and Local Taxes paid:$150,000
(Federal Taxes due: $300,000)
Federal Taxes Paid: $150,000
Net Income: $700,000

Without SALT DEDUCTIONS:
Earnings: $1,000,000
State and Local Taxes Paid: $150,000
Federal Taxes Paid: $300,000
Net income: $550,000

Deductions mean you get CREDIT for what you pay for STATE AND LOCAL TAXES and you pay LESS FEDERAL TAX.

When the Trump Tax cuts are repealed, it is a HUUUUUUUUUUUUUUGE tax cut for rich people in blue states.

You are all paying less in taxes than you were before the tax cuts. Look at your total taxes paid as a percentage of your salary before and after the cuts. Biden and the Dems are LYING when they say the Trump tax cuts only help the wealthy.

THINK FOR YOURSELVES, PLEASE.

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