Liberal Forum

Fuelman » 19 May 2024, 8:45 am » wrote: ↑

19 May 2024, 8:45 am

Makes you wonder why Republicans were so supportive of Corporate Tax Cuts when the wealthy benefited the most. Corporate tax liability decreased and profits soared.

Did the little guy get any benefit?

have you ever seen a company expand when they're losing money? During the Trump era, you saw it first hand...company tax cuts led to profits which lead to hiring and expansion...the economy exploded...and the gubment benefited as well with record tax collections filling their coffers...
 

Fuelman » 19 May 2024, 8:45 am » wrote: ↑

19 May 2024, 8:45 am

Makes you wonder why Republicans were so supportive of Corporate Tax Cuts when the wealthy benefited the most. Corporate tax liability decreased and profits soared.

Did the little guy get any benefit?

Of course they did, the lowest level of taxpayers got the most relief from Trump's tax cuts, and a significant percentage of higher level taxpayers got a tax increase just like I did!  My taxes went up by over $10,000 as a result of those cuts, but I'm adult enough to understand that the new policies were much more fair to everyone in every state.

BUT, if you still think otherwise and don't appreciate how the Trump tax cuts helped give us the booming economy we enjoyed under Trump, you will have the option of voting for Biden in November, since he's promised to eliminate those tax cuts if he wins the election.

So I'd confirm your information on precisely who were helped the most before entering the voting booth, keeping in mind that almost HALF of the country pays no federal tax already, so THEY CANNOT POSSIBLY BENEFIT FROM A TAX CUT!
Any amount that THEY will get from any new Biden proposal is called WELFARE and IS NOT a "tax cut"!

Read the reality here:https://budget.house.gov/press-release/ ... g-families
Here are the facts that prove your belief wrong:

Following passage of the Trump tax cuts…

• The bottom 20 percent of earners saw their federal tax rate fall to its lowest level in 40 years.
• Americans earning under $100,000 received an average tax cut of 16 percent.
• The share of taxes paid by the Top 1% of households increased while the tax burden paid by lower income earners decreased.

Real median household income rose by $5,000 – a bigger increase in just two years than in the prior eight years combined.
Wages increased 4.9 percent, the fastest two-year growth in real wages in 20 years.
The poverty rate and unemployment rate reached their lowest levels in 50 years, with all-time lows in unemployment among African American and Hispanic workers, and those without a high-school degree.

If you think Biden's promise to eliminate the Trump tax cuts if he wins, here are just a few of the immediate results:

• Allowing the Trump tax cuts to expires will mean higher taxes on working families and businesses, including…
  • A family of four earning $75,000 will owe an additional $1,500 in taxes.
  • A family of five with two earners making around $100,000 will owe an additional nearly $7,500 in taxes.
  • The Child Tax Credit will be slashed in half from $2,000 down to $1,000.
  • The guaranteed deduction that 90 percent of taxpayers use to simplify their tax filing will be slashed in half.
  • The 20 percent deduction that helps small businesses compete with larger corporations goes away leaving small businesses facing a 43.4 percent tax rate.
• There have been no changes to CBO’s methodology to address other miscalculations…
  • For fiscal year 2023, CBO under projected the budget deficit by $1 trillion.
  • The green tax provisions in the Inflation Reduction Act (IRA) were originally estimated to cost $400 billion through FY 2031. This has since been revised up by two-thirds, to about $660 billion through FY 2031 or $790 billion through FY 2033.

You should acknowledge and confirm these facts for yourself before you vote in the election, because you know how Biden will lie in his campaign and tell you that the Trump tax cuts ONLY helped the rich!  And the left-wing media will swear by those lies, GUARANTEED!!!

 
 

The corporation win no matter what the tax level is.


Under Biden the middle class is growing.


That's a fact.

Bidencrimefamily » 19 May 2024, 9:49 am » wrote: ↑

19 May 2024, 9:49 am

The corporation win no matter what the tax level is.

Under Biden the middle class is growing.

That's a fact.

It IS NOT A FACT, FOOL!
Thanks to the policies of the idiot you so love, the middle class is shrinking, while the low income and high income class are BOTH INCREASING.

Stop pulling lies out of your *** in such a feeble attempt to help the corrupt pedophile you idolize!
Here are the facts:

How America’s Middle Class Is ShrinkingForbes by Katharina Buchholz  Apr 21, 2023A report by Pew Research Center includes these numbers and also shows that unmarried women and those in single-earner households are less likely to belong to the middle class. The report considers anyone whose household earns between two thirds and double of the U.S. median income to belong to the middle class.As for the group considered low income, its size has also been increasing, albeit at a lower rate than the high income class. As a result, the middle class is being squeezed from both sides, most recently only making up 50% of Americans. One especially alarming trend—only pertaining to the low income class—is that while it has been increasing in size, it has been decreasing in its share of aggregated income. 

To feel middle class, you have to be wealthyBusiness Insider by Juliana Kaplan  May 18, 2024 

• Middle-income Americans aren't living middle-class lifestyles.
• Research indicates that middle-income earners spend more like lower-income workers.
• The share of middle-income Americans is shrinking, with increased polarization between income tiers.

The ranks of middle-income earners have been shrinking, according to the Pew Research Center.

Rakesh Kochhar, a senior researcher at the Pew Research Center, told BI that the share of people living in a middle-income household — earning somewhere between two-thirds and double the median income for a family of their size, per Pew's definition— has dropped over the last five decades, hitting 50% in 2010 and down from around 60% in 1970. That's held true since then, according to Kochhar, with a slightly higher share of that missing 10% moving into the upper-income tier.

Let us know when you're done lying about the historic failure of your demented hero!
 

The middle class is growing under Biden.

The Biden administration has been a god sent to the middle class.

All three indexs hit new records.

First time that's happened I think.

The economy is rolling.

Bidencrimefamily » 19 May 2024, 10:41 am » wrote: ↑

19 May 2024, 10:41 am

The middle class is growing under Biden.

The Biden administration has been a god sent to the middle class.

LIAR!
And I have little doubt you think they'll do even better when Biden eliminates those pesky Trump tax cuts, huh?

Here's the proof that any imbecile can understand:

American Salaries Aren’t Keeping Up With Inflation
On the Money by Anneken Tappe
 
Inflation has outpaced wage growth since 2021. Since 2020, the cost of living rose 18.3% compared to a 17.6% increase for wages. This has resulted in negative nominal wage growth for the average American. In other words, your paycheck simply isn’t going as far.

You think the middle class has seen such a terrific increase under Biden despite the fact you're paying double to buy gas now, while the price of food continues to rise every month?  You don't think his policies have had a detrimental effect from the fact that housing costs, health insurance, higher taxes, higher tolls, and countless new regulations are all much higher under Biden?

Why is it that the vast majority of the country believe that Bidenomics has been a massive failure?

The Results Are In: Bidenomics Is a Complete Failure
Newsweek 9/20/23

Over the last several months, Joe Biden has desperately traversed the country trying to resuscitate his plummeting poll numbers and reassure American families that his economic agenda is working. He claims that multi-trillion-dollar investments in green energy and excessive government spending will propel our economy into unprecedented heights of American prosperity.

In other words, he is intentionally misleading Americans with the message that his fiscal policies—which he has coined "Bidenomics"—are beneficial. Fortunately, in poll after poll, the American people resoundingly reject Bidenomics because they see everywhere—from the gas station to the grocery store to their credit-card statements—that the Biden administration's economic agenda has failed. Injecting trillions of dollars into our economy didn't deliver financial relief; it fueled the worst inflation crisis in more than 40 years.

 

Bidenomics has been a disaster
LA Daily News 5/8/24
At a recent hearing of the Senate Committee, Sen. Tim Scott, R-South Carolina, took the Biden administration to task for its failed record on the economy, which we will quote at length:

“The bottom line is that Biden and Bidenomics has devastated our economy and devastated people working paycheck to paycheck. The highest percentage of Americans with the fewest dollars in their savings account for an emergency is now because of Biden and Democrats’ reckless spending.

“Anyone who believes that inflation has gone down because of the Inflation Reduction Act — all you have to do is look at the latest information coming out of the Federal Reserve itself. Inflation continues to increase.”

 

Failure of ‘Bidenomics’ is rankling Americans
No one is better off today than they were four years ago
Washington Times By E.J. Antoni 11/28/23

Polls show Americans reject Biden’s handling of the economy, and it’s not hard to see why. By just about any metric, people are worse off today than they were when Biden took office. Survey after survey shows voters voicing their dissatisfaction, but the Biden administration remains defiant.
The question is, why are voters so down on the economy if the Biden administration is constantly touting its economic record? The simple answer: Facts are stubborn things.

Under Biden, people are demonstrably worse off, and the administration’s own figures on inflation, jobs and falling household incomes prove it. Yet instead of acknowledging reality, the administration makes excuses while its media sycophants try and fail to gaslight Americans.

 
 

Zeets2 » 19 May 2024, 11:33 am » wrote: ↑

19 May 2024, 11:33 am

LIAR!
And I have little doubt you think they'll do even better when Biden eliminates those pesky Trump tax cuts, huh?

Here's the proof that any imbecile can understand:

You think the middle class has seen such a terrific increase under Biden despite the fact you're paying double to buy gas now, while the price of food continues to rise every month?  You don't think his policies have had a detrimental effect from the fact that housing costs, health insurance, higher taxes, higher tolls, and countless new regulations are all much higher under Biden?

Why is it that the vast majority of the country believe that Bidenomics has been a massive failure?

Yep the middle class is growing so fast under Biden. 

Wages outpacing inflation. 

Everybody balling under biden. 
 

Bidencrimefamily » 19 May 2024, 11:34 am » wrote: ↑

19 May 2024, 11:34 am

Yep the middle class is growing so fast under Biden. 

Wages outpacing inflation. 

Everybody balling under biden.

Inflation up
10 million more illegals
28 year low home sales
Gas prices up
7% interest rates

And he's polling terrible..

Ever wonder why?
 

Bidencrimefamily » 19 May 2024, 11:34 am » wrote: ↑

19 May 2024, 11:34 am

Yep the middle class is growing so fast under Biden. 

Wages outpacing inflation. 

Everybody balling under biden.

So why can't you provide the facts just as I did that prove you're a liar?

 

Zeets2 » 19 May 2024, 9:28 am » wrote: ↑

19 May 2024, 9:28 am

Of course they did, the lowest level of taxpayers got the most relief from Trump's tax cuts, and a significant percentage of higher level taxpayers got a tax increase just like I did!  My taxes went up by over $10,000 as a result of those cuts, but I'm adult enough to understand that the new policies were much more fair to everyone in every state.

BUT, if you still think otherwise and don't appreciate how the Trump tax cuts helped give us the booming economy we enjoyed under Trump, you will have the option of voting for Biden in November, since he's promised to eliminate those tax cuts if he wins the election.

So I'd confirm your information on precisely who were helped the most before entering the voting booth, keeping in mind that almost HALF of the country pays no federal tax already, so THEY CANNOT POSSIBLY BENEFIT FROM A TAX CUT!
Any amount that THEY will get from any new Biden proposal is called WELFARE and IS NOT a "tax cut"!

Read the reality here:https://budget.house.gov/press-release/ ... g-families
Here are the facts that prove your belief wrong:

If you think Biden's promise to eliminate the Trump tax cuts if he wins, here are just a few of the immediate results:

You should acknowledge and confirm these facts for yourself before you vote in the election, because you know how Biden will lie in his campaign and tell you that the Trump tax cuts ONLY helped the rich!  And the left-wing media will swear by those lies, GUARANTEED!!!

The question was specific to Corporate tax cuts and went along nicely with the chart Rog posted about who owns the largest percentage of stocks as a percentage of net worth.

I can definitely agree the tax cuts helped a lot of people, the doubling of the standard deduction was a Huge driver, 2% of not much is exactly that, not much. When it comes to the individual brackets, the higher income groups get the break from multiple brackets, not just two. I know the SALT deduction caught a lot of people off guard and ended up raising their taxes that first year. I was watching closely at the time and was making changes to where our money was going to make up the difference for those lost deductions over the cap. I'm guessing a person with your means figured it out shortly after that first year.

Back to the Corporate Tax Cuts. Try not to blow chunks when you see the source    . Take the time to read through, it is book marked to sources used in the article. 

REPORT APR 30, 2024The Tax Cuts and Jobs Act Failed To Deliver Promised Benefits
Benefits of the business tax changes in Trump’s 2017 tax bill were costly and did not trickle down to workers and families.APR 30, 2024

https://www.americanprogress.org/articl ... %20workers.

I believe it's quite clear where the largest portion of the corporate tax cuts went and it wasn't down steam.
 

Bidencrimefamily » 18 May 2024, 3:55 am » wrote: ↑

18 May 2024, 3:55 am

Biden just keeps breaking records.

Gotta love the American economy.

As the right wing sucks off putin and Xi.

Yeah, they celebrated in 1929 until October...IDIOT!!!

 

Bidencrimefamily » 18 May 2024, 3:55 am » wrote: ↑

18 May 2024, 3:55 am

Biden just keeps breaking records.

Gotta love the American economy.

As the right wing sucks off putin and Xi.

Yeah, they celebrated in 1919 until October...IDIOT!!!
 

ROG62 » 18 May 2024, 6:46 am » wrote: ↑

18 May 2024, 6:46 am

quite the list...



shows how much the DOW is helping every day Americans...besides, it's of no use until retirement...WTF?

"Retirement" from what?

Fuelman » 19 May 2024, 4:59 pm » wrote: ↑

19 May 2024, 4:59 pm

The question was specific to Corporate tax cuts and went along nicely with the chart Rog posted about who owns the largest percentage of stocks as a percentage of net worth.

I can definitely agree the tax cuts helped a lot of people, the doubling of the standard deduction was a Huge driver, 2% of not much is exactly that, not much. When it comes to the individual brackets, the higher income groups get the break from multiple brackets, not just two. I know the SALT deduction caught a lot of people off guard and ended up raising their taxes that first year. I was watching closely at the time and was making changes to where our money was going to make up the difference for those lost deductions over the cap. I'm guessing a person with your means figured it out shortly after that first year.

Back to the Corporate Tax Cuts. Try not to blow chunks when you see the source    . Take the time to read through, it is book marked to sources used in the article. 

REPORT APR 30, 2024The Tax Cuts and Jobs Act Failed To Deliver Promised Benefits
Benefits of the business tax changes in Trump’s 2017 tax bill were costly and did not trickle down to workers and families.APR 30, 2024

https://www.americanprogress.org/articl ... %20workers.

I believe it's quite clear where the largest portion of the corporate tax cuts went and it wasn't down steam.

Tax cuts are only meaningful to those with an income.

To the vast majority of Americans, that comes with Employment.

ROG62 » 18 May 2024, 6:46 am » wrote: ↑

18 May 2024, 6:46 am

quite the list...



shows how much the DOW is helping every day Americans...besides, it's of no use until retirement...WTF?
 

 

Unless you are retired or close to it most everyday Americans are more concerned with the price of groceries, gas, rent/mortgage and home energy costs.

Huey » 20 May 2024, 8:21 am » wrote: ↑

20 May 2024, 8:21 am

Unless you are retired or close to it most everyday Americans are more concerned with the price of groceries, gas, rent/mortgage and home energy costs.

I am a retired everyday American and I am concerned with the "price of groceries, gas, and home energy costs", no mortgage.
 

Fuelman » 19 May 2024, 4:59 pm » wrote: ↑

19 May 2024, 4:59 pm

I believe it's quite clear where the largest portion of the corporate tax cuts went and it wasn't down steam.

It is impossible to give a significant tax cut to people who do not pay a significant amount of federal income tax.

 

Bidencrimefamily » 18 May 2024, 3:55 am » wrote: ↑

18 May 2024, 3:55 am

Biden just keeps breaking records.

Gotta love the American economy.

As the right wing sucks off putin and Xi.

How many **** times do you need to be told...God man. The only people who are benefiting is the 1%. We proved that already you dumb mother ****. 

God I hate stupid people. 

Bidencrimefamily » 19 May 2024, 11:34 am » wrote: ↑

19 May 2024, 11:34 am

Yep the middle class is growing so fast under Biden. 

Wages outpacing inflation. 

Everybody balling under biden.

The US is headed for the biggest economic crash in history.