Joe Biden’s tax plan will put middle class in 'peril,'

[Canton Dawg]

@hoorta said:

Hey CD, when you actually read the article, there's nothing in Biden's current plan about raising rates on the middle class...  He's projecting what might happen. 

Trump's tax cuts were a bonanza for the wealthiest 1%- he even bragged about it.    

PS- I've always said the way to fix Social Security (and it needs fixing) is to take the caps off of where you don't pay SS taxes anymore. What would worry me is making SS "means tested". OK, if you're raking in a million+ in retirement, you probably don't need a SS check.  

Did you know Senator Biden voted to tax Social Security?

Yeah...there’s a real friend to the working men and women of this country.

BTW, Trump cut taxes across the board...I know it doesn’t fit your narrative but let’s be honest.

[Canton Dawg]

@westside-steve said:

I know you don't. But you probably shouldn't pay into Social Security either. At that point no one can say that Social Security is there money. At that point it's just welfare.

So pretend Mike Pence was running for president. Would you support the tax plan then? Would you support Joe Biden's tax plan?

WSS

You put things into perspective with one of your recent post.

I vote for policy, not personality.

Joe Biden hasn’t done shit in his 47 year career in politics.

[calfoxwc]

I keep reading Hoorta's posts, and I keep seeing Juan Williams in them.

[Vambo]

@hoorta said:

Hey CD, when you actually read the article, there's nothing in Biden's current plan about raising rates on the middle class...  He's projecting what might happen. 

Trump's tax cuts were a bonanza for the wealthiest 1%- he even bragged about it.    

PS- I've always said the way to fix Social Security (and it needs fixing) is to take the caps off of where you don't pay SS taxes anymore. What would worry me is making SS "means tested". OK, if you're raking in a million+ in retirement, you probably don't need a SS check.  

Here's How Much Money the Average Family Could Lose if Biden Wins

https://www.westernjournal.com/much-money-average-family-lose-biden-wins/?utm_source=facebook&utm_medium=westernjournalism&utm_content=2020-10-20&utm_campaign=manualpost

“We estimate that the full Biden agenda will reduce long-run real GDP per capita by more than 8 percent as a result of reducing full-time equivalent employment (FTEs) per person by 3 percent, the capital stock per person by 15 percent and total factor productivity by 2 percent,” read the study, published Sunday.

A decade from now, median household income could very well decrease by $6,500.

“Relative to the [Congressional Budget Office’s] 2030 projections for these variables,” the study explained, “this suggests there will be 4.9 million fewer employed individuals, $2.6 trillion less GDP, and $1.5 trillion less consumption in that year alone.

https://twitter.com/brad_polumbo/status/1318338070748475393?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1318338070748475393%7Ctwgr%5Eshare_3,containerclick_0&ref_url=https://www.westernjournal.com/much-money-average-family-lose-biden-wins/

“Median household income in 2030 would be $6,500 less.”

A major reason why Biden’s agenda would be detrimental has to do with his proposal to increase the corporate tax rate to 28 percent.

Corporate tax hikes usually result in higher prices for consumers, lower wages and layoffs.

Should taxes be raised on corporations and high-earning Americans?

Yes No  

Completing this poll entitles you to The Western Journal news updates free of charge. You may opt out at anytime. You also agree to our Privacy Policy and Terms of Use.

In addition to middle-class families and businesses taking a hit in a potential Biden administration, higher-income earners would also be negatively impacted by tax hikes.

Those who make over $400,000 a year and live in the high-tax states of California, New York and New Jersey may face a combined tax rate of over 60 percent, CNBC reported.

The combined rate made headlines this week when rapper 50 Cent announced he’s voting for President Donald Trump.

[hoorta]

@canton-dawg said:

Did you know Senator Biden voted to tax Social Security?

Yeah...there’s a real friend to the working men and women of this country.

BTW, Trump cut taxes across the board...I know it doesn’t fit your narrative but let’s be honest.

Did you know Social Security is already taxed?  If you make more than a ridiculously low threshold (I'm not going to look up the exact number) but a percentage of your Social Security check is taxable income... 

[Vambo]

@hoorta said:

Did you know Social Security is already taxed?  If you make more than a ridiculously low threshold (I'm not going to look up the exact number) but a percentage of your Social Security check is taxable income... 

Fact Check: Joe Biden Has Advocated Cutting Social Security for 40 Years

“I tried with Senator Grassley back in the 1980s to freeze all government spending, including Social Security, including everything,” Biden said in 1995.

https://theintercept.com/2020/01/13/biden-cuts-social-security/

Ryan Grim

January 13 2020, 9:00 a.m.

 

As early as 1984 and as recently as 2018, former Vice President Joe Biden called for cuts to Social Security in the name of saving the program and balancing the federal budget. Last week, Sen. Bernie Sanders highlighted Biden’s record on Social Security in prosecuting the case that Biden isn’t the most electable candidate. The issue could be raised again in Tuesday night’s debate.

After a Sanders campaign newsletter continued the attack on Biden’s Social Security record, the Biden campaign complained to fact-checkers at Politifact that his comments were being taken out of context. Placed in context, however, Biden’s record on Social Security is far worse than one offhand remark. Indeed, Biden has been advocating for cuts to Social Security for roughly 40 years.

And after a Republican wave swept Congress in 1994, Biden’s support for cutting Social Security, and his general advocacy for budget austerity, made him a leading combatant in the centrist-wing battle against the party’s retreating liberals in the 1980s and ’90s.

“When I argued that we should freeze federal spending, I meant Social Security as well,” he told the Senate in 1995. “I meant Medicare and Medicaid. I meant veterans’ benefits. I meant every single solitary thing in the government. And I not only tried it once, I tried it twice, I tried it a third time, and I tried it a fourth time.” (A freeze would have reduced the amount that would be paid out, cutting the program’s benefit.)

[Canton Dawg]

@hoorta said:

Did you know Social Security is already taxed?  If you make more than a ridiculously low threshold (I'm not going to look up the exact number) but a percentage of your Social Security check is taxable income... 

I was the owner of a successful tax business for 15 years.

That would be like me giving you pointers in the healthcare field.

[Westside Steve]

While some continue to Rage Against the corporations and the stock market remember the success on those two fronts goes hand-in-hand with the success of Social Security and Medicare. I know you liberals don't like to believe that but it's true. Corporations are indeed the geese that lay the golden eggs

WSS

[calfoxwc]

@westside-steve said:

While some continue to Rage Against the corporations and the stock market remember the success on those two fronts goes hand-in-hand with the success of Social Security and Medicare. I know you liberals don't like to believe that but it's true. Corporations are indeed the geese that lay the golden eggs

WSS

if any democrat has a 401K, they should desperately want to vote for President Trump, 100%....

if they ever had a critical thought, instead of emotional knee jerking.

[Canton Dawg]

@hoorta said:

Did you know Social Security is already taxed?  If you make more than a ridiculously low threshold (I'm not going to look up the exact number) but a percentage of your Social Security check is taxable income... 

Here’s your boy Biden on taxing SS. . .

[calfoxwc]

Hoorta hears a Who?

got butt-kicksied?