Posted on 06/24/2024 6:14:15 PM PDT by SeekAndFind
Democrats want a massive tax hike on everybody — including you, dear reader — if they can't get an even more massive tax hike on "the rich" and "corporations" when Donald Trump's 2017 tax cuts expire next year.
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“The main goal here is this can’t just be a debate about the 2017 tax cuts,” Sen. Mark Warner (D-Va.) said, completely unshy about the threat. He told Bloomberg last week, "This is going to be Tax Armageddon."
Prepare for the end of the world.
Federal income tax revenues jumped nearly $100 billion in the first year after Trump's signature tax cuts went into effect and almost another $40 billion in 2019. The stupid and unnecessary COVID-19 lockdowns derailed that growth in 2020. Since then, revenues have continued to surge. Much of that "growth" was an illusion created by inflation, however, and the rest was due to increased taxes on energy and corporations which, of course, got passed on to consumers.
Reminder: Corporations don't pay taxes; they collect them.
But Democrats are just getting started. The tax man never merely cometh for "the rich."
Washington has a spending problem, and Democrats aren't shy about how to solve it: tax us poor bastards back to the Stone Age.
There are two issues at play here.
The first is that Democrats have a desperate need to wipe out the Trump tax cuts because Orange Man Bad, although they hide it under the usual guise of "taxing the rich."
The second issue is the Democrats' longstanding desire to impose an unconstitutional wealth tax.
(Excerpt) Read more at pjmedia.com ...
Speaking at the Washington Center for Equitable Growth last week, Sen. Elizabeth Warren (D-Mass.) said, “Better to let all the Trump tax cuts expire than be accomplices to another slash-and-burn tax bonanza for America’s billionaires.”
“We’re going to have a lot of decisions to make about extending cuts or not. We haven’t made decisions about that yet,” Sen. Bob Casey (D-Pa.), said of Biden’s promise, according to Roll Call.
Translation: We are truly determined to tax you poor bastards back to the Stone Age.
At some point people will rise up against the theft, probably not in my lifetime though. There needs to be an epic event like an emp to knock us back a bit before people will become normal and realize what they’ve allowed the government to do to them. For now people are content to just bitch about it on social media and other platforms.
It's not soaking the rich, it's conscripting the rich to collect taxes.
Nobody is going to “rise up against the theft” under these circumstances.
This kind of nonsense gets posted on FR all the time, and it’s a myth — at least when it comes to corporate INCOME taxes (which is what the Democrats are talking about here).
Threatening the voters with increased taxes seems like a good way to get Republicans voted for.
Why did Trump sign into law Paul Ryan tax cuts that phased out and were not permanent?
From the article: “But like the income tax — which was originally sold as only falling on “the rich” — the real target of a wealth tax is the retirement accounts (and appreciation in home values) of regular Americans because as bank robber Willie Sutton is supposed to have said, “That’s where the money is.”
IF the dims ever pass a wealth tax, it will fall on anyone with any wealth.
It could not have gotten past the Senate filibuster if it was permanent iirc.
Come on, GOP. Go on the offensive.
Let them expire. Tell the public exactly how much their taxes are going to increase. Then ask every rat if the people getting tax increases are the “rich” that they want to get even with.
The left cannot have it both ways. They cannot claim that the Trump tax cuts were for the wealthy and then also claim everyone else’s taxes will increase.
EC
Reminder: Corporations don’t pay taxes; they collect them.
^^This^^
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Washington has a spending problem, and Democrats aren’t shy about how to solve it: tax us poor bastards back to the Stone Age.
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1) It’s a Uniparty ‘solution’
2) Shame we don’t have a ‘small govt’ party to push back against the illegal growth & spending of BIG govt (which would ‘fix’ #1)
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It’s not soaking the rich, it’s conscripting the rich to collect taxes.
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Govt using its lethal force to make biz do govt’s job so BIZ can be blamed instead of illegal/big govt.
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A nation ends up $34 trillion in debt by ensuring people that most people get more out of the government than they pay to it in taxes
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You mean (more of) OTHER People’s $; even if it’s merely govt IOUs
> — or at least they THINK they get more out than they pay.
You DO know ~50% pay $0% income tax TODAY, some even getting ‘back’ $ they themselves NEVER earned (EITC), right??
>Nobody is going to “rise up against the theft” under these circumstances.
BWAHAHaha. One merely needs to read ANY SS/MediXYZ thread here on FR alone to see how the pleebs SCREAM when its THEIR gift horse (ox) getting gored.
“Abolish the DoEd/welfare. Wait, what do you mean the bill for the ‘education’ of my brood is $15K/ea to be paid directly? I mean, I pay $7500/yr in property taxes!!”
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This kind of nonsense gets posted on FR all the time, and it’s a myth — at least when it comes to corporate INCOME taxes (which is what the Democrats are talking about here)
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Please! As if biz doesn’t adjust prices, demand, hire-fire, etc. based on....EVERY possible variable (IE: corp. income taxes) available.
Thus, YES, biz passes on to customers EVERYTHING.
The Ford Motor Company computes and pays its corporate income taxes the year AFTER the revenue is actually earned. Please explain to me how the company goes back and retroactively changes the prices on all the vehicles they sold the prior year.
Please explain to me how the company goes back and retroactively changes the prices on all the vehicles they sold the prior year.
It is not just cash sales.
The last time a Democrat/communist admitted he would raise our taxes it was Walter Mondull. He lost 49 states.
Fine. That still doesn’t explain how the company can retroactively raise the price on a vehicle that has already been sold.
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