Joe Biden’s big fat lie. I will not raise taxes on those earning less than $400,000

johnwk2 · 2020-10-23T00:31:45.551Z

PurpnGold:

kingarthur65:

Your logic also works the other way. If corporations get tax breaks, like the last tax bill, they pass on those savings to their customers… right? They wouldn’t buy back their stocks and inflate the value of their companies… would they?

I’ve literally never seen the price of a cheeseburger go down because McDonalds got a tax break.

Just like you never have seen the price of gas go down.

JWK

The Biden/Harris socialist healthcare plan will tax America’s productive citizens and our retired Senior citizens to provide healthcare to the 1.5 million DACA and 3.6 million Dreamers in our country ___ LINK

Auto129 · 2020-10-23T00:35:06.550Z

Not envy. Just fatigue. No matter what the tax rate is, we will still have to bail out big airlines, big coal, big anything every time an ant farts in the economy. Just go down the list of all the publicly traded mega corporations who drank from the trough of the PPP and left nothing for small business owners.

It’s a waste of money to subsidize their stock pumps in the meantime.

johnwk2 · 2020-10-23T00:36:19.799Z

PurpnGold:

Trump increased my tax bill…if he repels that… I’m good

So, you would agree with your idol Obama?

JWK

“Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else’s game.” ― Evita Ochel

JayJay · 2020-10-23T00:38:59.217Z

Auto129:

Not envy. Just fatigue. No matter what the tax rate is, we will still have to bail out big airlines, big coal, big anything every time an ant farts in the economy. Just go down the list of all the publicly traded mega corporations that drank from the trough of the PPP and left nothing for small business owners.

It’s a waste of money to subsidize their stock pumps in the meantime.

How are you say that about The Job Creators!

They’ll flee to Galt’s Gulch you know, and then where will we be?

gooddad409 · 2020-10-23T03:05:40.208Z

Amusing that libs still respond to my posts.

They haven’t figured it out.

johnwk2 · 2020-10-23T13:12:21.853Z

gooddad409:

Amusing that libs still respond to my posts.

They haven’t figured it out.

Same here! And I agree they still haven’t figured it out.

JWK

Biden was absolutely correct about us having a “cold winter”. But that’s only true if Biden gets elected, and he ends fracking, closed down oil, gas and coal fired power plants, which now heat our homes in the winter.

Eagle-Keeper · 2020-10-23T14:05:10.172Z

PurpnGold:

Trump increased my tax bill…if he repels that… I’m good

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

DOLOOP · 2020-10-23T14:09:15.208Z

Eagle-Keeper:

PurpnGold:

Trump increased my tax bill…if he repels that… I’m good

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

If you took the standard deduction and your total of deductions would have been greater than the standard deduction without the salt cap.

Your taxes went down, but not by as much as if there was no cap on salt.

mollyBrown · 2020-10-23T14:14:26.457Z

johnwk2:

gooddad409:

Amusing that libs still respond to my posts.

They haven’t figured it out.

Same here! And I agree they still haven’t figured it out.

JWK

Biden was absolutely correct about us having a “cold winter”. But that’s only true if Biden gets elected, and he ends fracking, closed down oil, gas and coal fired power plants, which now heat our homes in the winter.

Do you guys want an echo chamber and not a debate?

PurpnGold · 2020-10-23T14:14:40.375Z

Eagle-Keeper:

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

My SALT was over the cap? Where in previous years I could claim all of it.

DOLOOP · 2020-10-23T14:56:11.978Z

PurpnGold:

Eagle-Keeper:

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

My SALT was over the cap? Where in previous years I could claim all of it.

This isn’t hard.

Roxiebelle · 2020-10-23T15:39:00.865Z

DOLOOP:

This isn’t hard.

It’s a State and local issue so take it up with your State Legislature & “peacefully” protest and rally for lower taxes, that isn’t hard either.

DOLOOP · 2020-10-23T15:39:35.963Z

Roxiebelle:

DOLOOP:

This isn’t hard.

It’s a State and local issue so take it up with your State Legislature & “peacefully” protest and rally for lower taxes, that isn’t hard either.

Federal tax code.

This isn’t that hard.

zantax · 2020-10-23T15:47:11.489Z

DOLOOP:

Roxiebelle:

DOLOOP:

This isn’t hard.

It’s a State and local issue so take it up with your State Legislature & “peacefully” protest and rally for lower taxes, that isn’t hard either.

Federal tax code.

This isn’t that hard.

I thought Democrats wanted the wealthy to pay more taxes?

DOLOOP · 2020-10-23T16:02:21.115Z

zantax:

DOLOOP:

Roxiebelle:

DOLOOP:

This isn’t hard.

It’s a State and local issue so take it up with your State Legislature & “peacefully” protest and rally for lower taxes, that isn’t hard either.

Federal tax code.

This isn’t that hard.

I thought Democrats wanted the wealthy to pay more taxes?

It was a simple question. How did someone end up paying more taxes under Trumps tax “cut.”

I explained it.

This isn’t that hard.

JayJay · 2020-10-23T16:03:15.601Z

I don’t know if I paid more because I got a promotion and also vested stocks the year Trump’s tax cut took effect and it bumped me up a bracket.

WuWei · 2020-10-23T16:03:38.184Z

You have the same federal tax rates I do.

DOLOOP · 2020-10-23T16:03:54.146Z

WuWei:

You have the same federal tax rates I do.

Not after deductions.

Eagle-Keeper · 2020-10-23T16:10:14.542Z

DOLOOP:

Eagle-Keeper:

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

If you took the standard deduction and your total of deductions would have been greater than the standard deduction without the salt cap.

Your taxes went down, but not by as much as if there was no cap on salt.

The standard deduction was raised from $12,000 to $24,000. My total itemized deductions would still have been under $24,000. So even though my property taxes are over $10,000/year I was still better off because the standard deduction was raised. In other words if your itemized deductions were high due to high property taxes and high state taxes then you were impacted but that still would have been offset because of the cut in the marginal rate along with the increase in the child tax credit.

DOLOOP · 2020-10-23T16:12:07.930Z

Eagle-Keeper:

DOLOOP:

Eagle-Keeper:

I live in NJ, and even though my property taxes are over $10,000/year, my tax bill went down by over $5,000. How exactly did your overall tax burden go up?

If you took the standard deduction and your total of deductions would have been greater than the standard deduction without the salt cap.

Your taxes went down, but not by as much as if there was no cap on salt.

The standard deduction was raised from $12,000 to $24,000. My total itemized deductions would still have been under $24,000. So even though my property taxes are over $10,000/year I was still better off because the standard deduction was raised. In other words if your itemized deductions were high due to high property taxes and high state taxes then you were impacted but that still would have been offset because of the cut in the marginal rate along with the increase in the child tax credit.

There is a doughnut in there where the value of the decreased marginal rate is less than than the increased overall income imposed by the difference between standard deduction and previous deductions without SALT cap.