***Official Political Discussion Thread***

[Hahahaha]

50 a super clown for that. No explanation or nothing. Rednecks all worked up and excited in his comments.

Biden’s Tax Plan: What’s Enacted, What’s Proposed

Here’s how the Biden administration’s recently enacted tax law changes—and new corporate and individual tax proposals—do (or could) affect taxpayers.

www.investopedia.com

 

[Based Jesus]

Is this graphic for real? Cant be.

Should be higher

 

[Nike Jordan]

Curtis can't even vote.

 

[kdawg]

it's for people making >$400,000

Exactly - that Is what always happens when tax rates are discussed - someone wearing a red hat will complain about socialism and how the government isn’t getting 62% of what they make - when no-one pays that and they’re probably not even close to the income level it applies to.

You’d only pay the top rate on the top part of your income - everything else is taxed lower so when you work it out even if you make $1m you wouldn’t pay that percentage. (Although to be fair the more you make the closer it gets).

It’s crazy how none of them seem to understand how tax brackets work.

 

[RustyShackleford]

Is this graphic for real? Cant be.

They are adding the top tax rates together both state and federal

But taxes don't work like that. Most regular people fall into lower tax brackets, lower amount of income is taxed at lower rates, there are deductions, etc. In all Biden's tax plan is very good for the middle class.

In fact, Biden's plan cuts taxes on aggregate for the middle class...

Biden tax plan gives $620 tax cut to middle class, new study says

Democratic presidential candidate Joe Biden's tax plan would give an average tax cut of $620 to middle-income earners, according to a new analysis, while top earners would face a steep increase.

www.cnbc.com

50 is just showing his ignorance and spreading it to others.

 

[Nereyda Vuelve Por Dios]

Should be higher

based on this i dont think its beneficial.

President Biden’s Campaign Tax Plan

Biden’s tax plan is estimated to raise about $3.33 trillion over the next decade on a conventional basis, and $2.78 trillion after accounting for the reduction in the size of the U.S. economy. While taxpayers in the bottom four quintiles would see an increase in after-tax incomes in 2021...

taxfoundation.org

Reducing gdp and the lost 500k in jobs.


60% is a bit much dont ya think. Maybe at those making a milli. But someone who makes 400k in these states dont eat that well after taxes as it is. Even under obama. Seems excessive to a layman like me.

and I dont make 400k. Probably wont as i work in nonprofit. But damn. Corporations will def take their frustration out on us.

 

[whywesteppin]

What resources do people recommend for understanding the ballot initiatives? Unlike voting for candidates, where there is an "R" next to the name to tell me who to vote for, the ballot initiatives just say "yes" and "no."

Kale Gang members can weigh in as well. I'll just vote for the exact opposite of whatever your websites recommend.

And I know this was asked last month but now that I'm staring at my ballot, I'm kind of lost once I've gotten past filling in "Kanye" for president.

 

[RustyShackleford]

based on this i dont think its beneficial.

President Biden’s Campaign Tax Plan

Biden’s tax plan is estimated to raise about $3.33 trillion over the next decade on a conventional basis, and $2.78 trillion after accounting for the reduction in the size of the U.S. economy. While taxpayers in the bottom four quintiles would see an increase in after-tax incomes in 2021...

taxfoundation.org

Reducing gdp and the lost 500k in jobs.


60% is a bit much dont ya think. Maybe at those making a milli. But someone who makes 400k in these states dont eat that well after taxes as it is. Even under obama. Seems excessive to a layman like me.

and I dont make 400k. Probably wont as i work in nonprofit. But damn. Corporations will def take their frustration out on us.

That is in a vacuum. It assumes the revenue is not used to stimulate the economy or the effects of redistribution down to the lower and middle class.

America's economy can grow just fine with higher taxes on high earners if the tax revenue is spent right.

 

[iheartboost]

Is this graphic for real? Cant be.

Yes, If you make over 400k a year, which is around 1% of the population.

 

[RustyShackleford]

Our tax and the financial system serve as a massive welfare program for the affluent in this country.

Most don't get tax anywhere near the top rate. There are tons of deductions at their disposals

And I find it hilarious that the argument can be made about the negative economic effects of taxing top earners more when economists from all over the political spectrum will tell you the mortgage interest deduction is a massive giveaway to the wealthy, and it is bad economics.

Our tax system is nowhere near as progressive and efficient as it should be because of so many giveaways to top earners.

 

[junglejim]

based on this i dont think its beneficial.

President Biden’s Campaign Tax Plan

Biden’s tax plan is estimated to raise about $3.33 trillion over the next decade on a conventional basis, and $2.78 trillion after accounting for the reduction in the size of the U.S. economy. While taxpayers in the bottom four quintiles would see an increase in after-tax incomes in 2021...

taxfoundation.org

Reducing gdp and the lost 500k in jobs.


60% is a bit much dont ya think. Maybe at those making a milli. But someone who makes 400k in these states dont eat that well after taxes as it is. Even under obama. Seems excessive to a layman like me.

and I dont make 400k. Probably wont as i work in nonprofit. But damn. Corporations will def take their frustration out on us.

the New York Times has a pretty good article last year that showed the average effective tax rate of rich people was only 31%. After deductions no one is paying 60%.

our current highest marginal rate is 30% LESS than it was was in 1980. It wasn’t until Reagan/bush we went with these super low rates in the rich

 

[RustyShackleford]

What resources do people recommend for understanding the ballot initiatives? Unlike voting for candidates, where there is an "R" next to the name to tell me who to vote for, the ballot initiatives just say "yes" and "no."

Kale Gang members can weigh in as well. I'll just vote for the exact opposite of whatever your websites recommend.

And I know this was asked last month but now that I'm staring at my ballot, I'm kind of lost once I've gotten past filling in "Kanye" for president.

Just Google your state with "recommended progressive ballot", or something like that. Or go to Ballotpedia and see which groups endorsed which position.

 

[Hahahaha]

Need more of this

 

[aepps20]

Donny been in the gym, working with aepps20 on his dance moves, notice how he is working off the jab...

Wish he would've put more power in the jab but overall a dominant performance and I'm proud of him.

 

[boris]

based on this i dont think its beneficial.

President Biden’s Campaign Tax Plan

Biden’s tax plan is estimated to raise about $3.33 trillion over the next decade on a conventional basis, and $2.78 trillion after accounting for the reduction in the size of the U.S. economy. While taxpayers in the bottom four quintiles would see an increase in after-tax incomes in 2021...

taxfoundation.org

Reducing gdp and the lost 500k in jobs.


60% is a bit much dont ya think. Maybe at those making a milli. But someone who makes 400k in these states dont eat that well after taxes as it is. Even under obama. Seems excessive to a layman like me.

and I dont make 400k. Probably wont as i work in nonprofit. But damn. Corporations will def take their frustration out on us.

Well, those making $400k aren't paying a flat 60%. But assuming they did, they would still take home $160k, which would be more than enough to live a nice life in the Bay Area.

 

[IATT]

Wut?

no wonder dwalk31 supports this mess

 

[elpablo21]

 

[boris]

Interesting...

 

[whywesteppin]

Just Google your state with "recommended progressive ballot", or something like that. Or go to Ballotpedia and see which groups endorsed which position.

Thanks. I should have thought of that.

Kind of surprised progressive groups are against increasing a tobacco tax. I understand the reasoning (not wanting to put an additional financial burden on smokers with low incomes), but I always assumed liberals would generally support a tobacco tax.

 

[heelsandeers]

a lot of common sense things can be done to improve Biden's tax plan. will we get them? who knows but i will take it over what the GOP is offering any day

a good start to filling da coffers would be funding the IRS and shifting its focus away from poor people

 

[Belgium]

That sounds a lot like bribery. He's fantasizing about it rather than admitting to it but still

 

[Based Jesus]

I never noticed in this gif the Jazz only having 57 in the 4th quarter

 

[Belgium]

Big brain play from the Trump campaign here: 'my opponent will listen to the top infectious disease expert'. In this clip he also lies about Fauci's position on locking down the country, a lie that Fauci has repeatedly denounced in public.

 

[whywesteppin]

Big brain play from the Trump campaign here: 'my opponent will listen to the top infectious disease expert'. In this clip he also lies about Fauci's position on locking down the country, a lie that Fauci has repeatedly denounced in public.

Trump making true what was satirized just yesterday:

Trump Accuses New Zealand’s Prime Minister of Competently Handling the Coronavirus to Get Reëlected

Trump called Jacinda Ardern’s use of public-health measures to mitigate the pandemic’s impact “a sleazy political move like you wouldn’t believe.”

www.newyorker.com

JANESVILLE, WI (The Borowitz Report)—Calling New Zealand’s Prime Minister “crooked and rigged,” Donald J. Trump accused Jacinda Ardern of competently handling the coronavirus pandemic in order to get reëlected.

Speaking at a rally in Wisconsin, Trump called Ardern’s use of public-health measures to mitigate the impact of the coronavirus on her nation “a sleazy political move like you wouldn’t believe.”

“This woman wanted to get reëlected, so she decided to go after the coronavirus and beat it,” he said. “This woman is a disgrace.”

Ramping up his attack on Ardern, Trump accused her of securing her election victory by “listening to scientists.”

“She was talking to scientists every day,” Trump charged. “It’s all going to come out when we see her e-mails.”

In a final denunciation of Ardern’s successful handling of the pandemic, Trump vowed, “You’ll never see me pulling something like that.”

 

[Public Enemy]

That sounds a lot like bribery. He's fantasizing about it rather than admitting to it but still

Just came to post this. This **** is wild.