Groceries are more affordable now than in 2019
- Thread starter NoleATL
- Start date
So, 4 years later, nobody is any better off is what it says
Actually look at the graph, it is slightly better. There was that little covid thing and a Trump negotiated 10% reduction in OPEC production. Those who are definitely NOT better off are those MAGAs who took the MAGA advice regarding Covid and unnecessarily got the dead.
You have my condolences.
Corporate billionaires certainly are after Trump gave them a permanent 25% tax cut, paid for by raising the taxes every two years on workers making less than $75k.
But who would you expect a billionaire to look out for than all his other billionaire buddies?
Tell me you know NOTHING about income taxes without telling me you know NOTHING about income taxes.
Tell me you support a rapist conman who steals from Veteran charities without telling me you support a rapist conman who steals from Veteran charities.
Tell me where I said anything about who I support dumb phuck.
I don't like either candidate.
The ONLY thing I said in my reply is that the poster knows NOTHING about income taxes.
You could explain where he went wrong, you know.
Everything he stated was false.
I could give examples but he wouldn't believe me anyways.
Voters (on both sides) see a political ad on tv and just automatically believe whatever their side says.
The "Trump tax cuts" benefited over 95% of the members of HROT.
Affluent? Yep.
Upper middle class? Yep.
Middle class? You better believe it.
Don't believe the political ads on tv. Especially when it comes to taxes.
Disclaimer: I'm not a fan of Trump and income taxes are my livelihood.
since taxes are your livlihood:
were any cuts permanent
did/will some go back up and on who
were the tax cuts self sustaining. did the government collect as much after as before... you know trickle down economics.
Everyone got stupid pay increases in the wake of COVID and "The Great Resignation" and they're pissed that everything else increased accordingly so they're basically still in the same place.
The Law of Supply and Demand shall not be broken.
Nothing is really permanent when it comes to taxes.
I can't and won't predict the future. I am however certain if anything does change, it will change again.
I'm not an economist and don't get paid to follow how the government uses its tax revenue.
Careful. You’re in for a personal attack.
They can’t address facts so they vilify the poor sap who delivers the receipts.
Middle class= a little benefit
Upper middle class= a bigger benefit
Affluent= winning the lottery type benefit.
You seem to want to deceive and make everyone think we all benefitted equally. Be Better
Hmm.
Pappy got Slappied up side the head a couple times too many.
You can't provide a link to back up anything you state.
Well, I do know the changes may have adversely affected middle income families. Here's how it shook out for a family of four. The standard deduction doubled but the loss of exemptions meant that everything else being equal - even with the CTC - they would owe more in 2018 than 2017 with the loss of nearly $3K in tax breaks. So maybe I better believe it, but I don't have to. Would the lower rates offset that? Probably to some extent and individual results will, of course, vary but this wasn't much of a break for the actual middle class. The data shows that households with an AGI just over $100K actually paid more in taxes in 2018, And "Yep" doesn't begin to cover the benefits for the wealthiest - especially when you factor in capital gains tax implications under Trump's cut.
you just don't want to say. revenue is down and trickle down never works.
YES SPENDING MATTERS TOO,, unless you're a republican in charge.
Historically, the rich are paying way way less than they used to. How does that compare to the lower tax bracket levels?
You are consistently unable to present anything factual. That isn't a personal attack; it's an observation.
I’m not the one presenting the facts here. The OP is.
You call the responses observations? I call them attacks.
Both of us are making an observation from which we derive our opinion.
I'M NOT TRYING TO MAKE A POLITCAL STATMENT. I'M NOT TALKING POLITICS HERE. I'M SIMPLY TALK'N BOUT TAXES.
TRUMP TAX CUT. BIDEN TAX CUT. I DON'T GIVE A PHUCK WHO WAS BEHIND IT.
I'M JUST STATING THAT 98/100 OF MY CLIENTS BENEFITED FROM THE TAX CUT IN 2017.
DON'T BELIEVE THE POLITICAL ADS.
The “rich” who are far wealthier than I (you as well?) are already paying the majority of taxes in this country. You’re either ignorant or you’re deliberately lying. Which is it?
The top 10% of earners in this country paid 75% of all income tax collected in 2021.
The bottom 50% pay almost nothing.
The entire Trump tax reform was a canard akin to a drug dealer giving a child the first gram of blow for free.
You sir, are full of sh!t!
The effective tax rate was lowered in 2017 for all tax brackets. If you made 75k, trump tax cuts helped you. Kamala is set to let it expire, your effective tax rate will increase if she becomes president. Look up effective tax rate 2015vs 2017- we all benefited.
Also- you realize the top 1% pay 47% of taxes in America. How are they not paying their fair share?
I saw this comment again and your lack of REAL knowledge is exactly what I’m talking about.
There’s A LOT of affluent hrot members that post here, let’s here it from them.
AFFLUENT members, did you receive “lottery type benefits” from the 2017 tax cuts?
I’ll hang up in listen as I consider myself upper middle class.
The Trump tax cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, provided tax benefits across all income levels, but the wealthiest individuals and corporations received the largest benefits in both dollar terms and percentage terms.
Key Points:
- High-Income Earners:
- The top 1% of earners saw significant benefits. By 2025, the top 1% are projected to receive about 83% of the tax benefits.
- The average tax cut for households making over $1 million was about $69,660 per year, according to the Tax Policy Center.
- Corporations:
- The corporate tax rate was cut dramatically from 35% to 21%, which primarily benefited large businesses and wealthier shareholders. This cut was permanent, unlike individual tax cuts, which are set to expire in 2025.
- Corporations also benefited from changes such as the immediate expensing of capital investments, increasing after-tax profits.
- Middle- and Lower-Income Households:
- Households in the middle-income bracket received a modest tax cut, averaging about $900 in savings, which translated to around a 1.6% increase in after-tax income.
- Lower-income households saw even smaller benefits, with an average tax cut of about $60.
Sources:
- Tax Policy Center: Analysis of TCJA Benefits
- Congressional Budget Office: Reports on the impact of the Tax Cuts and Jobs Act
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