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1%-er, here, in regards to income. I didn't get a tax cut. I actually had to pay thousands more in federal income tax. The culprit: the $10,000 SALT deduction limit.
If you paid over $10K in sales tax and had a liability for $$ more in taxes you are differently in a upper tax bracket. In fact you didn't really deserve a tax cut as you are one of those who liberal complain about.
Trumps tax cuts were fiscally irresponsible and are paid for by borrowed money.
MOST people don't get this.
They don't want to get this.
They have no clue how much the national debt is nor what it is.
Most confuse the national deficit to the national debt.
Most don't have a clue what the interest is on the national debt. Nor do they want to know.
Someone is going to have to pay for the national debt and guess what. Everyone. So get over it.
Why doesn't the government just print more money and just pay off the national debt? Anyone?
Trumps tax cuts were fiscally irresponsible and are paid for by borrowed money.
Government spending is fiscally irresponsible, as anyone who knows how to write a budget understands. When your outlays are higher than your income, you have a deficit. Stop voting for politicians that want to spend taxpayer money on idiotic programs, and our deficit will shrink. Keep voting for politicians who want to buy votes by pandering to special interest groups, and we will never shrink the deficit. Simple math.
MOST people don't get this.
They don't want to get this.
They have no clue how much the national debt is nor what it is.
Most confuse the national deficit to the national debt.
Most don't have a clue what the interest is on the national debt. Nor do they want to know.
Someone is going to have to pay for the national debt and guess what. Everyone. So get over it.
Why doesn't the government just print more money and just pay off the national debt? Anyone?
Why do you keep voting for politicians that can't balance a checkbook?
If you paid over $10K in sales tax and had a liability for $$ more in taxes you are differently in a upper tax bracket. In fact you didn't really deserve a tax cut as you are one of those who liberal complain about.
It was local real estate tax and state income tax that put me way above the $10,000 SALT deduction limit. So, yes, I paid taxes on what I had to pay in taxes.
I didn't realize that for older kids. That is exactly my point. The child credit didn't compensate for me to break even either and by break even I just mean paying the same amount at the end of the year as I did with the dems. It hurt blue state middle class families for sure. This year is going to be especially hard. There will be the increased tax bill and increased childcare since there probably won't be school or only part time school in many coastal states.
With that said, one thing I've learned from this from my other conversations is that blue states need to get ourselves together where it comes to seniors. We need to cast a wider net for care and sustainability, which means we need to keep costs of everything more reasonable and not just housing. It's like a chaotic piecemeal system.
Yeah they threw some funny stuff in there that they thought no one would notice, the biggest impact is from the inability of people to itemize their return and the SALT limits. The SALT limits had a minimal impact on us but the loss of the individual deduction of $4200 each being applied to itemized returns resulted in us having to itemize so our tax liability went up.
I'd certainly support him, he'd be infinitely better than anyone who has run for president on either major party platform in a really long time.
He should run on a write-in campaign and promise NOT to support any changes to any laws or policies that do not involve reduced spending.
EVERTHING stays just as it is right now, except spending. Just call timeout on everything else, so the country can focus upon stopping debt from crushing us all. Then, support him by voting out the 533 who oppose his efforts.
It's a naive dream on my part, because he'd still have 533 politico's fighting him, and Americans are so brainwashed into Red vs Blue by the media, they can't see that both parties are driving us all over the cliff.
They'd rather bicker about which candidate is more dimented than the other ...Heaven help us.
Government spending is fiscally irresponsible, as anyone who knows how to write a budget understands. When your outlays are higher than your income, you have a deficit. Stop voting for politicians that want to spend taxpayer money on idiotic programs, and our deficit will shrink. Keep voting for politicians who want to buy votes by pandering to special interest groups, and we will never shrink the deficit. Simple math.
There are only 2 of them in DC. Rand Paul & Thomas Massie. That's it...2. A vote for anyone else is a vote for driving the bus over the cliff.
Trump tax cuts put our deficit over 1 trillion. Trump took an economy which went from 11%UE to 4 down to 3.5. That was a lot of money to the 1% with no increase in wages worth mentioning.
That Trillion has created a huge stock market bubble.
It has created a credit crunch forcing the Fed to start QE back in Nov. of 2019.
Now with his really biggest failure, ignoring the pandemic, we will be hitting 5 trillion.
You can then look at what he has done which hurt.
Trade wars and tariffs.
Trumps tax cuts contributed NOTHING to the deficit. Money to the Treasury increased, albeit only slightly. Increases in SPENDING are the real contributing factor. https://tradingeconomics.com/united-...nment-spending
Wages have been up during his tenure....something you saw nothing of in the previous administration.
The pandemic is cycling through our population regardless of any action or inaction by Trump. As long as R naught is above 1 (currently calculated as between 2 and 3) and people refuse to use common sense, there is no way to stop it. The virus never sleeps!
But you're ignoring the other half of the tax cut package, which was the corporate tax cut. If businesses owe less on their profits, then of course they are more valuable companies, and that was reflected in the zooming stock market. So even the 10% of us in the middle class, who saw our taxes go up slightly, more than made that back (like 25x in my case) with an increase in our retirement funds.
But not because businesses prospered from it but rather because they were buying back their own stock, in the long run that does not help the economy.
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