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Biden plans to raise taxes

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posted on Mar, 15 2021 @ 09:54 AM
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Who didn't see this coming?

"President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package."

"The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million"


Gotta love how it's just a tax on the rich and on businesses. These things never snowball onto everyone else.
I said that this election will bite the American public right in the butt.
Better grab your ankles boys...its Gunna get bumpy.

Just heard today that a local company that makes cardboard boxes is shutting down a bit because they can't get glue.
That on top of the other shortages I've heard about recently.



thehill.com...


+1 more 
posted on Mar, 15 2021 @ 10:00 AM
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The Democrats raise taxes, your kidding. Actually I expect them to come after 401k accounts by raising capital gains taxes and restructuring the approach.



posted on Mar, 15 2021 @ 10:02 AM
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a reply to: Nickn3

I think you are right.
They will come after 401ks but I bet union pension plans will not be effected.



posted on Mar, 15 2021 @ 10:05 AM
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a reply to: Bluntone22




Who didn't see this coming?

With a National debt as colossal as your's no one I guess , extra spending due to the Pandemic and free money giveaways all have to be paid for.



posted on Mar, 15 2021 @ 10:06 AM
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When the economy doesn’t come to a screeching halt and jobs don’t get outsourced fast enough...Jack up taxes.

It is the surest way.



posted on Mar, 15 2021 @ 10:07 AM
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Props to Biden. Gotta raise taxes to pay for Trump's wasteful spending.



posted on Mar, 15 2021 @ 10:07 AM
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originally posted by: Nickn3
The Democrats raise taxes, your kidding. Actually I expect them to come after 401k accounts by raising capital gains taxes and restructuring the approach.

I expect they will set their sights higher on the 401k plans.
Look for a complete takeover.
They nationalize all of it in a plan like Social Security insurance. They won't roll it into Social Security, just make a new system like it.
They will watch over our money for us, to make sure that evil Wall Street tycoons will not lose it for us.



posted on Mar, 15 2021 @ 10:09 AM
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originally posted by: gortex
a reply to: Bluntone22




Who didn't see this coming?

With a National debt as colossal as your's no one I guess , extra spending due to the Pandemic and free money giveaways all have to be paid for.


They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.



posted on Mar, 15 2021 @ 10:12 AM
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originally posted by: gortex
a reply to: Bluntone22




Who didn't see this coming?

With a National debt as colossal as your's no one I guess , extra spending due to the Pandemic and free money giveaways all have to be paid for.


I believe our debt is very similar to yours on a percentage of GDP.



posted on Mar, 15 2021 @ 10:12 AM
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a reply to: peter_kandra




They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.

That's when you should start looking at Windfall tax's on the parts of the economy that have done well through the pandemic.



posted on Mar, 15 2021 @ 10:15 AM
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a reply to: Bluntone22




I believe our debt is very similar to yours on a percentage of GDP

I haven't checked but it wouldn't surprise me , we're hemorrhaging cash at an alarming rate and this government seems content to continue splashing it around , we also face tax rises.



posted on Mar, 15 2021 @ 10:17 AM
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originally posted by: gortex
a reply to: peter_kandra




They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.

That's when you should start looking at Windfall tax's on the parts of the economy that have done well through the pandemic.


Rather than do that, all the pork should have been stripped out of the $1.9 trillion first. What's actually going to help people...10 to 15%. A big part of the other money is nothing more than a fiscal bailout of mismanaged states and cities.



posted on Mar, 15 2021 @ 10:23 AM
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This was announced before the election.



posted on Mar, 15 2021 @ 10:24 AM
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originally posted by: gortex
a reply to: peter_kandra




They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.

That's when you should start looking at Windfall tax's on the parts of the economy that have done well through the pandemic.



I don't like the idea of punishing a company that made good business decisions.



posted on Mar, 15 2021 @ 10:26 AM
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originally posted by: Bluntone22

originally posted by: gortex
a reply to: peter_kandra




They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.

That's when you should start looking at Windfall tax's on the parts of the economy that have done well through the pandemic.



I don't like the idea of punishing a company that made good business decisions.


I do agree with Gortex somewhat. Most of that profit (Walmart and Amazon) was only made because small stores weren't allowed to open or had to operate at a reduced capacity.
edit on 15-3-2021 by peter_kandra because: (no reason given)



posted on Mar, 15 2021 @ 10:27 AM
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a reply to: peter_kandra

You're probably right but instead of "rather than do that" perhaps "as well as that"

I see no problem with hitting online retailers and others who've made large profits because their competition has been closed down , they should be asked to throw a little more into the pot for their privileged position.



posted on Mar, 15 2021 @ 10:30 AM
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a reply to: Bluntone22

The evil left is raising taxes.

Shocked face.



Just questions for everyone applauding this;

Is government spending our money correctly?
There is waste anywhere?
Spending billions on foreign policy is something you also endorse?



posted on Mar, 15 2021 @ 10:30 AM
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a reply to: Bluntone22

Well it was one of his campaign promises, plus somebody have to pay for the give away to the illegals, the foreign gifts, the democrats strong hold pockets the shady green energy companies that will start to line up for money to go bankrupted after, soo much money to be collected, get ready America China Bei din needs your hard earned dollar to make the Democrats holler.



posted on Mar, 15 2021 @ 10:31 AM
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originally posted by: peter_kandra

originally posted by: Bluntone22

originally posted by: gortex
a reply to: peter_kandra




They sure do need to be paid for, but in an equitable fashion, and not when businesses aren't even allowed to operate at full capacity yet.

That's when you should start looking at Windfall tax's on the parts of the economy that have done well through the pandemic.



I don't like the idea of punishing a company that made good business decisions.


I do agree with Gortex somewhat. Most of that profit (Walmart and Amazon) was only made because small stores weren't allowed to open or had to operate at a reduced capacity.


That's still punishing them for something out of their control.



posted on Mar, 15 2021 @ 10:32 AM
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originally posted by: LordAhriman
This was announced before the election.



It sure was and all the morons still voted for him.
Stupid is as stupid does.



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