Trump Eyeing 10% Middle Income Tax Cut

[big_country90]

My wife and I already benefited from the first one. We bring home several hundred dollars per month more than before the original tax cut was passed, and are expecting much more back when we file our taxes next year. Another 10% reduction would be huge. I'm interested to see the income range that would qualify.

Thoughts?


https://www.yahoo.com/news/trump-says-eyeing-10-percent-middle-income-tax-192219289--business.html

 

[extragreen]

FY 2014 - The deficit was $485 billion.
FY 2015 - The deficit fell further to $438 billion.
FY 2016 - The deficit rose to $585 billion
FY 2017 - The deficit was $666 billion.
Under Obama ^^^^

FY 2018 cheetos 793 billion.

I think another tax cut would lower the deficit under trump, don't you?

 

[the spectre]

FY 2014 - The deficit was $485 billion.
FY 2015 - The deficit fell further to $438 billion.
FY 2016 - The deficit rose to $585 billion
FY 2017 - The deficit was $666 billion.
Under Obama ^^^^

FY 2018 cheetos 793 billion.

I think another tax cut would lower the deficit under trump, don't you?

Did you care about the deficit when Obama was President?

 

[GreenDuke]

FY 2014 - The deficit was $485 billion.
FY 2015 - The deficit fell further to $438 billion.
FY 2016 - The deficit rose to $585 billion
FY 2017 - The deficit was $666 billion.
Under Obama ^^^^

FY 2018 cheetos 793 billion.

I think another tax cut would lower the deficit under trump, don't you?

A pox on both houses.

 

[extragreen]

Did you care about the deficit when Obama was President?

Nope. But you did. But you don't now. Weird.

 

[extragreen]

A pox on both houses.

Who are you kidding? You'll remove the pox on your house if another tax cut is enacted.

 

[the spectre]

Nope. But you did. But you don't now. Weird.

I find it humorous that you think you know anything about me. Also not caring then but caring now, that makes you a hypocrite.

 

[GreenDuke]

Who are you kidding? You'll remove the pox on your house if another tax cut is enacted.

My income is not “middle class”.
I started at the bottom and passed thru the middle about 35 years ago.

 

[ARandomHerdFan]

Also not caring then but caring now, that makes you a hypocrite.

Someone who cared then but doesn't care now would also be a hypocrite, correct?

I'm not saying you are, but I want to make sure that you believe it goes both ways.

 

[extragreen]

I find it humorous that you think you know anything about me. Also not caring then but caring now, that makes you a hypocrite.

I didn't care then, and I don't care now. What I'm doing is making fun of conservatives who cared a lot under obama and don't care at all now, and would apparently love to see another tax cut that would increase the deficit even more. Do you also believe trump when he said the tax cuts would be unveiled prior to November?

 

[extragreen]

My income is not “middle class”.
I started at the bottom and passed thru the middle about 35 years ago.

I see, so you think the last tax cuts for the middle class will be different than the tax cuts for the middle class this time.

 

[GreenDuke]

I see, so you think the last tax cuts for the middle class will be different than the tax cuts for the middle class this time.

?

 

[extragreen]

?

The tax cut "for the middle class" that trump and conservatives enacted was not for the middle class. You think the one he's promising now is? I mean, what would cause a person to disbelieve him?

 

[big_country90]

The tax cut "for the middle class" that trump and conservatives enacted was not for the middle class. You think the one he's promising now is? I mean, what would cause a person to disbelieve him?

You'd have be employed to know if the last tax cut bill affected the middle class, which it did. As soon as the tax cuts were implemented, my wife and I collectively started bringing home about $400/month more than we did before as our income tax percentage dropped thanks to the cuts. The standard deduction nearly doubled to $24,000, and we will get $4,000 for the child tax credit every year going forward, whereas we were ineligible for that credit under the old tax law. So, yeah, it's having a large impact on the middle class.

If you still owned your business, you would see either a major drop in your corporate tax rate or your pass through income, depending on how you filed. It would have benefitted you greatly as well.

 

[extragreen]

Sorry, most of us in this area don't consider an income of 3x the median household income as middle class.

 

[i am herdman]

Sorry, most of us in this area don't consider an income of 3x the median household income as middle class.

What do you consider rich?

 

[big_country90]

Sorry, most of us in this area don't consider an income of 3x the median household income as middle class.

That doesn’t change the fact that the last tax cut helped many people in the middle class and the new one Trump is proposing would as well.

 

[extragreen]

That doesn’t change the fact that the last tax cut helped many people in the middle class and the new one Trump is proposing would as well.

It doesn't change the fact that the wealthy are the ones who benefited most, that's not a "middle class tax cut". It's a tax cut for the wealthy and most people got scraps that fell from the table.

 

[i am herdman]

It doesn't change the fact that the wealthy are the ones who benefited most, that's not a "middle class tax cut". It's a tax cut for the wealthy and most people got scraps that fell from the table.

what do you consider rich?

 

[big_country90]

It doesn't change the fact that the wealthy are the ones who benefited most, that's not a "middle class tax cut". It's a tax cut for the wealthy and most people got scraps that fell from the table.

As Herdman has asked twice, what do you consider rich?

Also, do you understand how taxes work and how percentages work?

 

[Raoul Duke MU]

Did you care about the deficit when Obama was President?

Do you care now?

 

[Raoul Duke MU]

Thoughts?

I think you are a mark at best, and a rube at worst.

No one knows what the fvck Trump is talking about.

https://www.politico.com/story/2018/10/22/trump-new-tax-cut-midterms-925383

 

[Raoul Duke MU]

Sorry, most of us in this area don't consider an income of 3x the median household income as middle class.

This "new middle class" exists because the goal posts were purposely moved. The GOP bullshits the actual working class to believe its policies are to its benefit.

 

[the spectre]

Do you care now?

I've always cared.

 

[extragreen]

As Herdman has asked twice, what do you consider rich?

Also, do you understand how taxes work and how percentages work?

Both questions are absolutely irrelevant to the fact that tax cuts for the wealthy were called a middle class tax cut. Regarding the newest tax cut proposal, do you think the wealthy will benefit from them also?

 

[ThunderCat98]

I benefited from the tax cuts and I am decidedly not "wealthy." Where do you draw the line between middle class and wealthy?

 

[Raoul Duke MU]

I benefited from the tax cuts and I am decidedly not "wealthy." Where do you draw the line between middle class and wealthy?

Like pornography, you know it when you see it.

 

[countryroads89]

My wife and I already benefited from the first one. We bring home several hundred dollars per month more than before the original tax cut was passed, and are expecting much more back when we file our taxes next year. Another 10% reduction would be huge. I'm interested to see the income range that would qualify.

Thoughts?


https://www.yahoo.com/news/trump-says-eyeing-10-percent-middle-income-tax-192219289--business.html

You're a f'ucking liar. The tax cuts haven't helped the middle class. On average, people in the $100k-$200k income range will see a savings of about $800 for the entire year. There is no way you are seeing an increase in income of several hundred dollars per month.

https://hbswk.hbs.edu/item/corporate-tax-cuts-don-t-increase-middle-class-incomes

I'll never believe a damn word you say on this site.

Furthermore, unless this tax law is changed at some point in the future, the lower and middle income classes will actually pay more in taxes in the out years.

And how in the hell do you think the POTUS is going to give you another 10% tax reduction when Congress isn't even in session? Good god, you're an idiot.

 

[Dreh_Nagi_HC_IM]

You're a f'ucking liar. The tax cuts haven't helped the middle class. On average, people in the $100k-$200k income range will see a savings of about $800 for the entire year. There is no way you are seeing an increase in income of several hundred dollars per month.

Depends on your personal situation. I know we're benefitting between $300.00 and $400.00 per month. Of course, we won't see the full benefit until we file our returns after the first of the year. Doubling up the personal exemption is where we'll make most of our savings, as we don't have enough write-offs now, with no mortage payments (interest).

 

[i am herdman]

Both questions are absolutely irrelevant to the fact that tax cuts for the wealthy were called a middle class tax cut. Regarding the newest tax cut proposal, do you think the wealthy will benefit from them also?

You are using the term wealthy. So shouldn't we define that term?

 

[big_country90]

You're a f'ucking liar. The tax cuts haven't helped the middle class. On average, people in the $100k-$200k income range will see a savings of about $800 for the entire year. There is no way you are seeing an increase in income of several hundred dollars per month.

https://hbswk.hbs.edu/item/corporate-tax-cuts-don-t-increase-middle-class-incomes

I'll never believe a damn word you say on this site.

Furthermore, unless this tax law is changed at some point in the future, the lower and middle income classes will actually pay more in taxes in the out years.

And how in the hell do you think the POTUS is going to give you another 10% tax reduction when Congress isn't even in session? Good god, you're an idiot.

Every word I said is 100% true. I don’t care how many democrat talking points you spout. The reality is, our paychecks increased significantly and immediately, as did the paychecks of millions of others.

Math isn’t hard, despite Riflearm and his struggles with it. If my income tax rate dropped by 3%, then less money is going to the government every payday, which means I get to keep it.

If you have an actual job with an actual paycheck, then the same happened for you. If you say otherwise, you’re lying.

 

[countryroads89]

Every word I said is 100% true. I don’t care how many democrat talking points you spout. The reality is, our paychecks increased significantly and immediately, as did the paychecks of millions of others.

Math isn’t hard, despite Riflearm and his struggles with it. If my income tax rate dropped by 3%, then less money is going to the government every payday, which means I get to keep it.

If you have an actual job with an actual paycheck, then the same happened for you. If you say otherwise, you’re lying.

I have an actual job and no, I don't get to keep any more of my money. I am honest and have no need to espouse some political lie to defend the liar in chief. In fact, the doubling of the standard deduction will be about the same as my itemized deductions so there won't be any tax savings for me at the time of filing a tax return.

 

[big_country90]

Both questions are absolutely irrelevant to the fact that tax cuts for the wealthy were called a middle class tax cut. Regarding the newest tax cut proposal, do you think the wealthy will benefit from them also?

Depends on the parameters set forth as to what income ranges would be eligible. I’m sure any new tax bill would define the middle class if the cuts are intended to benefit the middle class.

So, what is your definition of middle class? What is your definition of wealthy? Heck...look it up if you need to.

 

[big_country90]

I have an actual job and no, I don't get to keep any more of my money. I am honest and have no need to espouse some political lie to defend the liar in chief. In fact, the doubling of the standard deduction will be about the same as my itemized deductions so there won't be any tax savings for me at the time of filing a tax return.

What do you do for a living?

 

[ThunderCat98]

On average, people in the $100k-$200k income range will see a savings of about $800 for the entire year.

My take-home increased over $100 per month, which is well above the yearly average you cite. That is 100% true.

 

[extragreen]

Depends on the parameters set forth as to what income ranges would be eligible. I’m sure any new tax bill would define the middle class if the cuts are intended to benefit the middle class.

So, what is your definition of middle class? What is your definition of wealthy? Heck...look it up if you need to.

It's not a tax cut for the middle class if top earners get a $60,000 tax break and you get $4,000. It's a tax cut for the wealthy.

 

[the spectre]

So let me get this straight. The tax cuts gave relief across the board but because the "rich" also got relief that means that they weren't merited. This Extragreen fellow is bonkers.

 

[herdfan429]

It's not a tax cut for the middle class if top earners get a $60,000 tax break and you get $4,000. It's a tax cut for the wealthy.

Please explain how my tax bill going down isn’t a tax cut

 

[the spectre]

Please explain how my tax bill going down isn’t a tax cut

The only true answer is semantics.

 

[Y.A.G Si Ye Nots]

Math isn’t hard, despite Riflearm and his struggles with it.

It's not even a good attempt. You claim that you've corrected me on math (let alone simply math) numerous times. Yet one asked to show or just detail one time, you can't do it. Then, you link to a thread in which you claim Banker corrected me on math, but in reality, I was the one correcting him on it. Further, that same thread linked to another thread in which I corrected you on making a huge mistake in basic math (which you even admitted to).

Could you possibly blow up your own argument any more than you did?