Party Of The Rich: Democrats Prepare To Push Tax Cuts For The Wealthy

As if their rank hypocrisy wasn't enough, they've decided it wasn't fair that the wealthy in high tax states got less of a tax cut than everyone else. So the dems plan to fix that by passing a tax cut for the rich plan! Woohooo!

This has to do with state and local tax deductions. Live in a high tax state like california, new york, or new jersey? The federal government no longer subsidizes your taxes as of the Trump tax cut. To prevent this pain from reaching the lower and middle class families the trump tax cut allowed you to deduct up to $10k in state and local taxes (for reference, I live in a state with middle of the road taxes and have paid about 5k in state and local taxes. I am in the 88th percentile of income earners in my state). But if you are uber rich that won't quite cover the deduction you're now missing out on. In other words, the rich are paying more taxes to the federal government due to the limits on deductions.

Isn't that "social justice?"

Well nancy is ready to give the rich those tax breaks they missed out on and will be pushing a plan through that will remove the limit on SALT deductions. LOL. She's not terribly concerned that 63% of the tax cut would go to the top 1%. Probably helps that she is part of that 1%. Nor is she concerned much about the 630 billion dollar deficit her tax cut would induce. One thing matters to nancy: get the rich people their money!

How can anyone support this party? I mean really. They've been railing against tax cuts for the rich (even when it's specifically designed to disadvantage the rich) since I was a baby and what's on the top of their list now? Tax cuts, literally, for the rich.

The other thing about the SALT deduction cap; under the previous system (no cap) and the one pelosi would like to go back to, the federal government was subsidizing high tax states while punishing low tax states. Seems pretty backwards.

Link to article

a reply to: Dfairlite


New Jersey, where I live, is a net contributor to the Treasury, which means we pay more into the Federal Government then we get back*. So if I can recoup some of my property taxes I'm totally cool with that.



*This also means other states are mooching off us

a reply to: Dfairlite

Let’s get real here....it’s not a bad tax plan. Just look at the current one. The current and all past ones suck butt but I myself can’t stop this unconstitutional act. And someone has to pay for that road patch....

Also if your mad about a tax break for the wealthy maybe booble that and read the results. You may be very surprised by your findings.

the current strategy is to raise tariffs (another word for taxes) on imported goods (raising cost on manufacturing) and then give a measly tax cut to the peons and act like revolution 2.0 just happened

a reply to: Dfairlite

Democrats are consistent on this one. They railed against the unfair treatment of high-value properties in some states since the Tax-Cut plan was first debated in 2017.

a reply to: Dfairlite

I'm all for tax cuts.

Period.


/post

originally posted by: AugustusMasonicus
a reply to: Dfairlite


New Jersey, where I live, is a net contributor to the Treasury, which means we pay more into the Federal Government then we get back*. So if I can recoup some of my property taxes I'm totally cool with that.



*This also means other states are mooching off us

Your taxes paid for my "front-hole" hat.

Thank you.

originally posted by: AugustusMasonicus
a reply to: Dfairlite


New Jersey, where I live, is a net contributor to the Treasury, which means we pay more into the Federal Government then we get back*. So if I can recoup some of my property taxes I'm totally cool with that.



*This also means other states are mooching off us

YOU pay a fortune in taxes and frankly don't know what I will wind up paying in Florida.
I can guess but, I have the benefit of my brother having died THIS year (odd thing to say) so I only owe about 1000 now, next year I project it being around 3000 so...

Yeah, it sux

a reply to: Dfairlite

What's your point though, that politicians are hypocrites when they need or want to be? We already knew that. You had to sock it to the Democrats by making yet another anti-Dem post as if there aren't plenty? Lol

Way to go guy *high five*

I have a video chat party scheduled for when Clinton dies, whichever one first, so we can make fun of them, rehash a bunch of scandals and political memories. If we had our way we'd burn the naked corpse after writing on it and making videos, then urinate on it in a circle chanting lock her up but we cant.

Getting too into this political garbage will slowly make you suck as a person. Instead of reading about interesting things, learning, science, conspiracy, history etc or playing games, watching something, spending time with friends or a woman, you'll devolve into reading bias articles on bias right or left wing sites, debate with or join in with peers beating the same dead horses.. over and over.. and following it like it's a television series, NFL, UFC, Wrestling, College Basketball, Premiere League Soccer?

Yeah, it's real life, but you can't lump this in with being into the news and world events. As long as them checks and balances things keep doing their job like they have been and the nation stays divided close to 50/50 as it always is, I could really care less about it unless I'm reading the news on CNN and Fox, yea I read both because all of it's infected and bias. Hell, the bigger bias media organizations I put most of the blame on for the polarization of the country. This is BIG, BIG business, billions of dollars and the minds of the masses. What do you think would happen if CNN or Fox suddenly ramped down their bias on left or right? I don't know, never considered it. They'd lose viewers?

a reply to: Dfairlite

But, the GOP and Trump just gave huge tax cuts to the wealthy for the rest of their lives. Are you outraged at that as well?

originally posted by: Dfairlite
As if their rank hypocrisy wasn't enough, they've decided it wasn't fair that the wealthy in high tax states got less of a tax cut than everyone else. So the dems plan to fix that by passing a tax cut for the rich plan! Woohooo!

This has to do with state and local tax deductions. Live in a high tax state like california, new york, or new jersey? The federal government no longer subsidizes your taxes as of the Trump tax cut. To prevent this pain from reaching the lower and middle class families the trump tax cut allowed you to deduct up to $10k in state and local taxes (for reference, I live in a state with middle of the road taxes and have paid about 5k in state and local taxes. I am in the 88th percentile of income earners in my state). But if you are uber rich that won't quite cover the deduction you're now missing out on. In other words, the rich are paying more taxes to the federal government due to the limits on deductions.

Isn't that "social justice?"

Well nancy is ready to give the rich those tax breaks they missed out on and will be pushing a plan through that will remove the limit on SALT deductions. LOL. She's not terribly concerned that 63% of the tax cut would go to the top 1%. Probably helps that she is part of that 1%. Nor is she concerned much about the 630 billion dollar deficit her tax cut would induce. One thing matters to nancy: get the rich people their money!

How can anyone support this party? I mean really. They've been railing against tax cuts for the rich (even when it's specifically designed to disadvantage the rich) since I was a baby and what's on the top of their list now? Tax cuts, literally, for the rich.

The other thing about the SALT deduction cap; under the previous system (no cap) and the one pelosi would like to go back to, the federal government was subsidizing high tax states while punishing low tax states. Seems pretty backwards.

Link to article

Sounds to me that a Comeuppance is in Order here . Who's got the Rope ?

a reply to: Swills

LMAO, the tax cut by the GOP went to 92% of americans. The tax cut proposed here would go almost exculsively to high earners. Again, 63% of the tax cut would go to the top 1%. I haven't checked the numbers but off the top of my head I would bet that 95%+ of this tax cut would go to the top 10% of earners.

But I'm not outraged about this at all. The only thing I'm pointing out with this is the absolute hypocrisy of the "They're only giving tax cuts for the rich!" party.

a reply to: Dfairlite

In Politics , ones Honor is an Afterthought . The Dems Always Seem to Forget that .

a reply to: AugustusMasonicus

To be clear, I'm not necessarily opposed to the idea of SALT deductions, I just find it rich in irony that the party who accuses republicans of only passing tax cuts for the rich, is pushing a tax cut that will only affect people who pay over 10k in SALT (AKA the rich).

originally posted by: Dfairlite
a reply to: Swills

LMAO, the tax cut by the GOP went to 92% of americans. The tax cut proposed here would go almost exculsively to high earners. Again, 63% of the tax cut would go to the top 1%. I haven't checked the numbers but off the top of my head I would bet that 95%+ of this tax cut would go to the top 10% of earners.

But I'm not outraged about this at all. The only thing I'm pointing out with this is the absolute hypocrisy of the "They're only giving tax cuts for the rich!" party.

Yeah, that's what I thought. Man you guys are blinded by your tribal politics and it's killing America.

Fools.

originally posted by: Dfairlite
a reply to: AugustusMasonicus

To be clear, I'm not necessarily opposed to the idea of SALT deductions, I just find it rich in irony that the party who accuses republicans of only passing tax cuts for the rich, is pushing a tax cut that will only affect people who pay over 10k in SALT (AKA the rich).

The lack of SALT deductions really yanks the cover back on Democrats at the state level as people start seeing how much they are really paying. I live in a high property tax area that is under Democrat control. Even the communist-lite libs around my way are starting to question the liberal tax and spend policies.

a reply to: r0xor

My point? They are called libtards for a reason. They're going to defend this after spending the last year railing against "tax cuts for the rich." That's why it's in the mud pit.

a reply to: Swills

Libtards are killing america, yes.

a reply to: Edumakated

What? Something got through to them? Pics or it didn't happen.

a reply to: Dfairlite

It's pretty simple to defend.

GOP #ed the tax code for a give away to the rich. This is one of the steps to fix it.

See how easy that is?



I swear people dont think before the speak rhetorical questions anymore.