The Joseph R. Biden Score Card

Discussion in 'Politicians' started by MeAgain, Jan 13, 2021.

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  1. Tishomingo

    Tishomingo Members

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    So you're lamenting that your land is gaining value (worth a million $) and, as a result, your property tax assessments are increasing, and you don't want to sell just yet. Gee, that's a dilemma. Life is full of hard choices.
     
    Tishomingo, Mar 14, 2023
    #1461
  3. Tishomingo

    Tishomingo Members

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    Last edited: May 21, 2024
    Tishomingo, Mar 15, 2023
    #1462
  5. Twogigahz

    Twogigahz Senior Member

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    That's a good one !!
     
    Twogigahz, Mar 15, 2023
    #1463
  7. Shy0ne

    Shy0ne Members

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    you are repeating yourself again. This was discussed in the previous page.

    you have not shown that "loopholes" are synonmynous with exemptions which is the crazy way you are using it in this discussion, please explain how loopholes are the same as exemptions.

    meanwhile:
    and:
    remain unanswered :confused:
     
    Shy0ne, Mar 15, 2023
    #1464
  9. MeAgain

    MeAgain Dazed & Confused Lifetime Supporter Super Moderator

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    The question seems to be how can we make the rich and ultra rich pay more taxes when they have so many legal deductions, or loopholes?
    Shyone seems to think this is impossible because their deductions are legal, I think that's what she's saying. therefore Biden's proposal can't do anything.

    So what's in Biden's plan? In short to change the laws that allow for legal deductions and loopholes.

    1. Repeal the Tax Cuts and Jobs Act of 2017.
    This act was pushed though by Trump and his Republican allies and it would result in an increase of $1.891 trillion to the national debt over ten years. It does include some tax breaks for individuals but they expire in 2025. Tax breaks to corporations are permanent.
    In short, it's a give away for the rich.
    So Biden would end those deductions and loopholes for the rich and require those earning over $400,000 per year pay 39.6%instead of 37%.

    2. Impose a minimum tax of 25% on the wealthiest .01%.
    Currently they pay about 3.4% (2014 -2018) ~ The Guardian

    3. Increase to the corporate tax rate on profits to 28%
    Currently it is 21% due to the Tax Cuts and Jobs Act of 2017. It was 35% before the Tax Cuts and Jobs Act of 2017.

    4. Cut tax breaks for oil and gas companies and real estate investors.
    Many of these companies and investors had record profits in 2022 and used those profits to buy back their own stock as prices for the ordinary Joe soared.

    5. Raise the tax on stock buybacks to 4% from 1%.
    See above.

    6. End tax breaks for cryptocurrency transactions
    Currently investors can to sell under performing crypto investments, claim the loss on their taxes, then immediately buy them back thus lowering their tax burden

    Here's the White House fact sheet.

    So what Biden is proposing is a number of ways to end or alter deductions and close legal loopholes for the rich. It can be argued that Congress wouldn't let him do any of this, but that misses the point.
    Should he do nothing? Even if Congress rejects any or all of his proposals if makes individual Congressmen and Representatives declare, by their votes, if they side with the rich at the expense of the poor and middle class or if they want to see meaningful tax reform.
     
    MeAgain, Mar 16, 2023
    #1465
    scratcho, Tyrsonswood, Tishomingo and 1 other person like this.
  11. Tishomingo

    Tishomingo Members

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    Last edited: May 21, 2024
    Tishomingo, Mar 16, 2023
    #1466
  13. Shy0ne

    Shy0ne Members

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    Explaining the Trump Tax Reform Plan
    :D
     
    Shy0ne, Mar 16, 2023
    #1467
  15. Twogigahz

    Twogigahz Senior Member

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    All I know is the last few years I've made crap money because of the pandemic, kept my withholdings as they should be calculated and I still have to send a big fat check in at tax time. The only thing I feel trickling down is warm and yellowish.
     
    Twogigahz, Mar 17, 2023
    #1468
    Eric!, Piney, sagebus and 3 others like this.
  17. scratcho

    scratcho Lifetime Supporter Lifetime Supporter

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    Please!! Let's not force undue hardship on the rich. Why should they have to pay for infrastructure, police, fire stations, the military . public education, disaster relief, or anything else that we, the working Americans take responsibility for?? The poor things just inherently need and deserve MORE money than the rest of us. How they get it is none of our business!! Raise taxes on the rich? Move on ----nothing to see there.;)
     
    scratcho, Mar 17, 2023
    #1469
    Eric! and MeAgain like this.
  19. tikoo

    tikoo Senior Member

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    We may boycott the wealthy. Tis maybe to be local so that the wealthy hear their neighbors.
     
    tikoo, Mar 17, 2023
    #1470
  21. Piobaire

    Piobaire Village Idiot

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    335147976_805821304313374_2549860539984615188_n.jpg
     
    Piobaire, Mar 17, 2023
    #1471
    Eric! and scratcho like this.
  23. sagebus

    sagebus Member

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    Joe Biden is the worst president in the history of the USA!
     
    sagebus, Apr 7, 2023
    #1472
  25. Eric!

    Eric! Lifetime Supporter Lifetime Supporter

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    Smh…..
     
    Eric!, Apr 8, 2023
    #1473
  27. scratcho

    scratcho Lifetime Supporter Lifetime Supporter

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    Moron!:mad:
     
    scratcho, Apr 8, 2023
    #1474
    Eric! likes this.
  29. Piney

    Piney Lifetime Supporter Lifetime Supporter

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    President Biden fell down while attending the Air Force Academy Graduation Ceromy.

    Remembering how Chevy Chase would spoof Gerald Ford's falls on Saturday Night Live.

    This is not so funny as our President is an 80 year old man.

    Remembering Mitch McConnell also had a serious fall a few months ago. But McConnell is not President.

    Mr. Biden should decline to run for re-election.
     
    Piney, Jun 2, 2023
    #1475
    Scarecrow13 likes this.
  31. Tishomingo

    Tishomingo Members

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    Last edited: May 20, 2024
    Tishomingo, Jun 3, 2023
    #1476
    Eric! and MeAgain like this.
  33. Tishomingo

    Tishomingo Members

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    Last edited: May 20, 2024
    Tishomingo, Jun 3, 2023
    #1477
    Eric! likes this.
  35. Eric!

    Eric! Lifetime Supporter Lifetime Supporter

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    More MAGA BS!!
     
    Eric!, Jun 3, 2023
    #1478
  37. LowHangers

    LowHangers Members

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    Why is it ALWAYS about MAGA bullshit? What is not understood about two generations (Baby Boomers-Generation X) of people that are all about building America to better the country having lost most of it to foreign countries. Trading with foreign Nations is needed for global unity, but manufacturing needs to be brought back, the medical products and staples most of all. It can be done here so why not do it here. I work for FedEx Freight (largest distributor of medical products) and proved it through the pandemic. There is also an attack on American Farms from outside global interest that is suspicious of causing food product shortages and its been going on for the last five years. The entire world is changing, and America is the country to be the focus on because we have the most resources that this administration has stopped or limited for all the wrong reasons.
     
    LowHangers, Jun 3, 2023
    #1479
  39. MeAgain

    MeAgain Dazed & Confused Lifetime Supporter Super Moderator

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    What resources has the present administration stopped or limited for what wrong reasons?
     
    MeAgain, Jun 4, 2023
    #1480
    Tishomingo likes this.
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