Without new taxes, Biden's campaign promises will cost Americans about $10 trillion over 10 years

[Dont Taz Me Bro]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

 

[Indeependent]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

You voted for him with great enthusiasm.

 

[Sunsettommy]

Taxes aren't the problem, it is the growing take over of the entire Federal Budget by Entitlements expansion, which is about 72% of the budget and growing.

 

[JGalt]

Democrats always seem to run on the same platform of "taxing the rich", even though a complete confiscation of the top 100's wealth wouldn't even make a dent in the debt.

Then when they get back into power, the tax burden always seems to fall on the shoulders of the wage-earners, creating an even more income disparity between the poor and the wealthy.

I think they want to drive the middle class out of existence or something.

 

[Dont Taz Me Bro]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

You voted for him with great enthusiasm.

Hmmm... I could have sworn I voted for somebody else, but surely you would know better than me.

 

[C_Clayton_Jones]

Then the Republican Senate should block all of Biden’s legislative proposals and raise taxes to balance the budget.

What Biden ‘promises’ is irrelevant – Congress alone enacts laws, Congress alone controls spending.

 

[Sunsettommy]

Then the Republican Senate should block all of Biden’s legislative proposals and raise taxes to balance the budget.

What Biden ‘promises’ is irrelevant – Congress alone enacts laws, Congress alone controls spending.

You can't raise enough taxes to balance the budget, why do people keep ignoring the massive expanding entitlements problem ( $2.735 trillion.) , and the massive interest payments for trying to cover the debt problem ( It was $375 billion in FY 2019)

The Balance

FY 2019 Federal Budget: Trump’s Budget Request


BY
KIMBERLY AMADEO


Updated June 29, 2020

Excerpt:

The fiscal year 2019 federal budget outlines U.S. government revenue and spending from October 1, 2018, through September 30, 2019. The Office of Management and Budget reported that revenue was $3.464 trillion.1 That's less than the spending of $4.448 trillion. It created a $984 billion budget deficit.

This year was unusual because, in February 2018, Congress enacted a bill to guide spending for FY 2019 as well as FY 2018.

Revenue
Almost half of the FY 2019 revenue of $3.464 trillion came from income taxes.

They contributed $1.718 trillion. Payroll taxes were $1.243 trillion and included Social Security and Medicare taxes. Corporate taxes added $230 billion, contributing just 7% to the total revenue. The corporate contribution was brought down from 9% in FY 2016 by Trump's tax plan.

The remaining $273 billion was from excise taxes, estate taxes, interest on Federal Reserve deposits, and other miscellaneous sources. It's also lower than in FY 2016. The tax plan cut estate taxes. Also, the Federal Reserve was reducing its holdings of U.S. Treasurys acquired through quantitative easing.

Tax Freedom Day occurred in mid-April. That's how long taxpayers work to pay for federal, state, and local government revenue collection. It's more than they spend on food, clothing, and housing combined.

LINK

 

[BluesLegend]

Now add the damage and long term interest on the debt it will be 3x that.

 

[foggedinn]

Seems we need an update on the late Sen. Everett Dirksen's comment, "a billion here, a billion there, pretty soon your talking about real money".

 

[Claudette]

Democrats always seem to run on the same platform of "taxing the rich", even though a complete confiscation of the top 100's wealth wouldn't even make a dent in the debt.

Then when they get back into power, the tax burden always seems to fall on the shoulders of the wage-earners, creating an even more income disparity between the poor and the wealthy.

I think they want to drive the middle class out of existence or something.

The dummies never learned what Kennedy, Reagan and Trump did. Cutting taxes puts more money into the economy and the Fed coffers that raising them ever did.

Biden says he will only raise taxes on any Corp or person making 400,000 or more. When they don't get the money they think they will get you can bet your ass everyone will get their taxes raised. They are a pack of imbeciles and we tax payers will get screwed.

 

[Likkmee]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

Do I make the loan payments directly to China ?

 

[Blackrook]

Then the Republican Senate should block all of Biden’s legislative proposals and raise taxes to balance the budget.

What Biden ‘promises’ is irrelevant – Congress alone enacts laws, Congress alone controls spending.

Clayton, you've proved once again you're an idiot.

The President signs or vetoes laws including spending.

You're an idiot.

 

[TNHarley]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

Now its time for the republicans to start caring about $ and for the dems to stop.

 

[martybegan]

Meet the new boss, same as the old boss

Without new taxes, Biden’s campaign promises will cost Americans about $10 trillion over 10 years

President-elect Joe Biden has an expansive regulatory and spending agenda and a lot more room to maneuver than conservatives admit.

www.washingtontimes.com

You voted for him with great enthusiasm.

Hmmm... I could have sworn I voted for somebody else, but surely you would know better than me.

In our binary solution set Presidential election, if you voted for anyone but Trump, you voted for Biden.

 

[Dont Taz Me Bro]

Now its time for the republicans to start caring about $ and for the dems to stop.

LOL. You can count on it.

 

[Dont Taz Me Bro]

In our binary solution set Presidential election, if you voted for anyone but Trump, you voted for Biden.

I didn't vote for Biden and we don't have just two choices. You choose to limit yourself to two.

 

[martybegan]

In our binary solution set Presidential election, if you voted for anyone but Trump, you voted for Biden.

I didn't vote for Biden and we don't have just two choices. You choose to limit yourself to two.

The system as it stands limits you to two. Denying that is like trying to use a Star Trek Warp Engine in the Star Wars Universe.

 

[Blues Man]

Democrats always seem to run on the same platform of "taxing the rich", even though a complete confiscation of the top 100's wealth wouldn't even make a dent in the debt.

Then when they get back into power, the tax burden always seems to fall on the shoulders of the wage-earners, creating an even more income disparity between the poor and the wealthy.

I think they want to drive the middle class out of existence or something.

even the democrats know that the middle class is the place to get their taxes as it is an inexhaustible resource because these people have to work to live. The rich don't have to work and can easily avoid taxes by not withdrawing from their portfolios

 

[Dont Taz Me Bro]

In our binary solution set Presidential election, if you voted for anyone but Trump, you voted for Biden.

I didn't vote for Biden and we don't have just two choices. You choose to limit yourself to two.

The system as it stands limits you to two. Denying that is like trying to use a Star Trek Warp Engine in the Star Wars Universe.

I'm done having this discussion with people. Take responsibility and stop blaming others for your own stupid decisions and ill logic.

 

[martybegan]

In our binary solution set Presidential election, if you voted for anyone but Trump, you voted for Biden.

I didn't vote for Biden and we don't have just two choices. You choose to limit yourself to two.

The system as it stands limits you to two. Denying that is like trying to use a Star Trek Warp Engine in the Star Wars Universe.

I'm done having this discussion with people. Take responsibility and stop blaming others for your own stupid decisions and ill logic.

Is our system as currently run weighed towards a binary party bias or not?