Posted on 03/13/2025 9:44:59 AM PDT by Red Badger
TRUMP WANTS NO TAXES FOR ANYONE MAKING LESS THAN $150,000
0:19 VIDEO AT LINK.........................
Originally set at $10,000 in 1913. Adjusted for inflation would be north of $320,000 in today’s money.
Musk has said the wealthy need to be more interested in national deficit spending. This is one way to get their attention.
That depends. If spending is cut enough and other taxes are raised, like tariffs, it can.
In the 60s, most working people paid very little in income taxes.
The Dems loved inflation in the 70s because it forced people into higher tax brackets. I recall my father staring in disbelief at his paycheck after a big raise and seeing how big a chunk of the raise went in taxes.
“and NO tax refunds”
So, if you overpay on your withholding the feds get to keep it.
'Course, here in Commiefornia, our demonicRAT legislature will raise the state income tax on those people.
Yeah, I'm the taxman
[Verse 2: George Harrison]
Should five percent appear too small
Be thankful, I don't take it all
[Chorus: George Harrison, George Harrison, John Lennon & Paul McCartney]
'Cause I'm the taxman
Yeah, I'm the taxman
(If you drive a car, car) I'll tax the street
(If you try to sit, sit) I'll tax your seat
(If you get too cold, cold) I'll tax the heat
(If you take a walk, walk) I'll tax your feet
“SO much wrong, If a person making 149000 does not pay taxes, the person making 150000 will be taxed to an income below 149000, making the higher earnings recce less net income.”
It wouldn’t work that way.
EVERYONE should have a stake in the tax rates. If you have to have an income tax, it needs to be a flat tax of 10% or less, regardless of income so everyone sees the impacts and all have a stake in tax rate decisions.
Otherwise a consumption tax, but not both.
It’s the people who make more than that that pay the most taxes. Again there will be no relief for us and the great scam will continue.
That’s not usually how these things work. The tax is typically on the “overage,” e.g., if the exemption is $150,000, the person making $150,001 pays tax on the $1 over the exempt amount.
and 17th
If you make 150K, have a house mort int deduction, family deductions of 1Spender(luv ya sweetie!) 2 Eaters(rug rats), fully fund your IRA(s) 35K, give modestly to the Charitable Sponge of your choice 5K, and all the other SALT “deductions” 15K prop tax, you’re not paying much Fed Tax as it is.
It’s the young 75K & renting that gets the windfall here.
Smart move by PDJT. That’s the MAGA block he needs to move the country.
Remember, the left has always told ya, “it’s for the children!”
“In the 60s, most working people paid very little in income taxes.”
With an economy killing 89% on incomes greater than $100k.
Me too!
Good idea, as well as no tax on social security.
The more people in the wagon.
The more they will vote to tax the people pulling it.
By now people should know Trump's "Art of the Deal" way of working.
At first he throws out an extreme proposal which undermines and exposes those negotiating in bad faith, and then works towards something more reasonable.
This is precisely what he is doing with tariffs.
That’s bad economics and bad reasoning.
Deficit spending is a flat tax (via inflation) shared by everyone, but mainly the poor and middle class. (Assets inflate in value.). So the rich don’t care about deficits.
Also, there aren’t enough rich to vote as a block to change policy.
Plus rich generally get zero benefit from government programs.
That is a progressive tax and I know that is how it works now. I just don’t see the government only accepting only .24 cents on that one dollar over 150k under such a tax scheme.
Plus you now have the issue a large group of people literally have no skin in the game as far as the government operates, that is not gonna fly well with people actually paying income tax who would get literally be paying for what others are not. Such unfairness is a recipe for society stratification and eventual failure.
Consider me a bit jaded about such a tax structure.
Exactly..
The problem now is to many people not paying taxes.
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