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Biden always had tax-hike plans for the middle class, just certain middle-class families. During the campaign, Biden supported a drastic overhaul of retirement accounts that would amount to a tax hike on folks earning over $80,250.
Hiking the corporate tax rate is a perfect example. Congress and President Donald Trump, with the Tax Cuts and Jobs Act, brought our corporate tax rate down to the globally competitive 21%, on par with the average of wealthy nations. Biden wants to increase it back to 28% and tack on a minimum 15% tax on the book income of large corporations, effectively disallowing many deductions.
Of course, corporations don’t actually pay taxes. They collect taxes. Taxing a corporation is always taxing people, and those people are the customers, shareholders, and employees.
The Tax Foundation estimates that Biden’s corporate tax hike would slash 159,000 jobs and that an average 0.7% wage reduction would harm the bottom quintile of workers, who would see a 1.45% decrease in after-tax income. Prices would likely go up, and retirement accounts would be smaller than otherwise.
liberals TALK about taxing the rich, but ALWAYS end up hitting the middleclass and poor....
Yes and the Republicans voted to give to the top 1%.
It was paid for by adding to the deficit.
I don’t recall that inflation “vote”.
ALL working Americans benefitted under Trumps economy, until the Chinese virus was launched at us.
Employment stats were at 50 year highs, and minorities benefitted the most.
The Pubs repatriated $1B in offshore Fortune 500 profits. Yes, some of that was used for stock buybacks, and exec bonuses, but then, that cash was re-circulated into our economy.
Tell us all how giving money to upside down teachers union pensions in failed inner-city schols benefits the rest of Americans? We'll all be here awaiting your reply oh, I mean diversion.
The same party screaming about Biden's infrastructure plan now, would have been thrilled with Trump's, especially if it benefited his hotels and golf courses most of all. They didn't care about Trump golfing even though he golfed more, they didn't care about his security costs even though they were more and if Trump had said he loved trains, they would love them too.
This is all just about supporting one's own team and nothing more.
The same party screaming about Biden's infrastructure plan now, would have been thrilled with Trump's, especially if it benefited his hotels and golf courses most of all. They didn't care about Trump golfing even though he golfed more, they didn't care about his security costs even though they were more and if Trump had said he loved trains, they would love them too.
This is all just about supporting one's own team and nothing more.
Why is it so common for Progressives to attempt analogies between known and unknowns ? It never stops. It is ridiculous.
We see what Biden is proposing. It is a fact.
Just like the stupid dumb leftist mainstream media, all about. “ what if..”
ALL working Americans benefitted under Trumps economy, until the Chinese virus was launched at us.
No. Trump was trying to weaponize the federal government against cities he didn't like because they didn't support him. Seattle pays a fortune in federal taxes, send billions every year to rural (Trump supporting) counties and he still was trying to "defund" Seattle which is also an international port.
I'm sure Trump supporters that would support this, will be equally supportive of Biden doing the same to Republican areas via the infrastructure plan. Right?
No. Trump was trying to weaponize the federal government against cities he didn't like because they didn't support him. Seattle pays a fortune in federal taxes, send billions every year to rural (Trump supporting) counties and he still was trying to "defund" Seattle which is also an international port.
I'm sure Trump supporters that would support this, will be equally supportive of Biden doing the same to Republican areas via the infrastructure plan. Right?
Sanctuary city. In violation of federal law. Why should federal law violators be federally funded? That's rewarding bad, actually... illegal, behavior.
liberals TALK about taxing the rich, but ALWAYS end up hitting the middleclass and poor....
Again, you're talking like corporations don't already charge the most the market allows for. So, American corporations are altruists, in your estimation? Their shareholders wouldn't like to hear that.
Again, you're talking like corporations don't already charge the most the market allows for. So, American corporations are altruists, in your estimation? Their shareholders wouldn't like to hear that.
are you not the poster, who in the other thread was saying the debt is imaginary.....
edit: sorry, no it was Hoonose, not Hooligan
if so, then why do we even need taxes
Last edited by workingclasshero; 04-01-2021 at 11:12 AM..
Reason: appology
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We'll all be here awaiting your reply 
oh, I mean diversion.
