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Biden says he will get Democratic votes for tax increase


Vambo

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Have no issue with raising the taxes 7 percent on those individuals who have an AGI over 400k.  I’d wager any individual making over 600k with a decent tax accountant will find a way to get their AGI under.  I was in the 25 percent tax bracket this year and Cal ain’t crying for me 😁

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yeah. they promised nobody would be taxed more if they were in high six figures.

guess what.

they are going to try to tax mileage. and farmers/tractors/cows. ammo and guns. RV's. pick up trucks. taxes on electricity, gas and propane....skyrocket taxes on parks/recreation, lawnmowers....

getting ready to be totally off the grid isn't a bad idea. I'm researching it - plenty of time.

I knew some people who were totally living by the UCMJ in the service. They were divorced,

workaholics, didn't have any kind of personal life. One even slept in his office. Lifers who would never be able to live a life outside of the military.

They are just like the liberal haters of today.

Liberals thrive on being in control, they are completely emotionally/ego based, and they thrive on hateful emotions to try to feel like

they are supremely important to every conversation, and they have a sick neurotic need to control everything around them.

They can't control reality, so they invent their own.

not good.

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17 minutes ago, BaconHound said:

Have no issue with raising the taxes 7 percent on those individuals who have an AGI over 400k.  I’d wager any individual making over 600k with a decent tax accountant will find a way to get their AGI under.  I was in the 25 percent tax bracket this year and Cal ain’t crying for me 😁

well, I feel bad for ya.  I hope you put big bucks into your 401K, etc. It pays off amazingly nice in a decade or two.

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40 minutes ago, BaconHound said:

Have no issue with raising the taxes 7 percent on those individuals who have an AGI over 400k.  I’d wager any individual making over 600k with a decent tax accountant will find a way to get their AGI under.  I was in the 25 percent tax bracket this year and Cal ain’t crying for me 😁

If you think the Dems are only going to tax the wealthy, I’ve got some oceanfront property in Nebraska to sell you.

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26 minutes ago, BaconHound said:

I can only discuss the information provided me.  Arguing hypotheticals is nonsense,

The Dems always say they are targeting “The Wealthy” but there’s always a trickle down effect.

Case in point, Biden wants to implement a tax on stock & bond transactions.

I’ve got news for the misinformed Liberals, you don’t have to be wealthy to buy and sell securities.

In the past 30 plus years I’ve contributed to a 401k along with an IRA, and I retired at the end of January 2021.

Guess What? Under Dementia Joe’s tax plan I’m going to have to pay tax on whatever stocks and bonds I sell.

And there’s no way in hell I even come close to making $400k a year.

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I’ve read about the income tax increase, please post the additional tax on stock and bond transactions.

Roth IRA wouldn’t be taxed upon withdrawal but my understanding is all others are.  Again if that is incorrect, please post the change in the tax code that Biden is proposing.

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7 minutes ago, Vambo said:

I’m still ok with it.  Sorry but until you hit my income bracket I’m fine with a tax increase.  I’m selfish when it comes to my money.  If they get down to me then I’ll be upset but until then, tax away.

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14 hours ago, BaconHound said:

Have no issue with raising the taxes 7 percent on those individuals who have an AGI over 400k.  I’d wager any individual making over 600k with a decent tax accountant will find a way to get their AGI under.  I was in the 25 percent tax bracket this year and Cal ain’t crying for me 😁

 So assuming you believe higher taxes are good thing then wouldn't it kind of belie that position by adding the caveat that any good tax attorney can get around it?

 But as to the notion that Biden can get democrats to vote for tax hikes.... Isn't that a little bit like teaching a cat to eat fish?

WSS 

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17 hours ago, BaconHound said:

I’m still ok with it.  Sorry but until you hit my income bracket I’m fine with a tax increase.  I’m selfish when it comes to my money.  If they get down to me then I’ll be upset but until then, tax away.

So whenever a corporation has to pay a higher tax rate, did you ever stop to think how they will recoup their lost margins?

If you guessed “passing that cost on to the consumer” you would be correct.

You Libs think that by taxing the living shit out of the over $400k bunch won’t have consequences....you would be wrong.

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6 hours ago, Westside Steve said:

 So assuming you believe higher taxes are good thing then wouldn't it kind of belie that position by adding the caveat that any good tax attorney can get around it?

 But as to the notion that Biden can get democrats to vote for tax hikes.... Isn't that a little bit like teaching a cat to eat fish?

WSS 

I don’t believe higher taxes are a good thing. At times they are necessary.  Closing tax loopholes would nullify a lot if creative tax accounting but I’d wager some people will simply pony up the extra cash and not worry about it.

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1 hour ago, Canton Dawg said:

So whenever a corporation has to pay a higher tax rate, did you ever stop to think how they will recoup their lost margins?

If you guessed “passing that cost on to the consumer” you would be correct.

You Libs think that by taxing the living shit out of the over $400k bunch won’t have consequences....you would be wrong.

No one is saying there isn’t consequences but in the free market a business can choose to raise prices and the consumer can choose not to pay them.  You see this in the TV provider industry.  Many have cut the chord due to higher prices.  As streaming service costs continue to rise, cable becomes more competitive, consumers can choose their services 

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14 hours ago, Vambo said:

Biden’s tax hike may hit more US households than expected

https://www.foxbusiness.com/politics/us-households-affected-bidens-tax-hike

 

Again. Still isn’t hitting me so I’m ok with it.  When it eventually gets to my tax bracket, I’ll see what the increase is, what it’s being spent on, and make my decision to support or complain about it.

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