Biden planning first major tax hike in almost 30 years

Wont need to with HR1

 

Do you think they pay out of pocket for all of the high quality government services they receive? A young parent getting two years to take care of children?

Someone pays taxes for services to low-income families they can't hope to afford on their own.

 

As long as they don't pay a price for not compromising, they won't.

 

Here only the top 20% pay teh VAST majority of the taxes to fund those over there everyone does. Which system do you want to go with?

 

Thanks for exposing your own ignorance about the importance of demand in a supply-and-demand economy. Supply-side economics thrives on the undercapitalization of the demand-side of the economy, thereby, hurting economic growth and job creation.

 

You mad because you didn't touch on those few simple facts? Don't be all mad at me for exposing your flawed explanation..

 

Projecting. You got rolled and you are bright enough to get.

 

Ya that's why you're all up in a huff, right

 

So he "gives" you the $ and takes it with the other hand. And shallow thinkers believe they got something.

 

What you fail to acknowledge is that party that controls the House spends the money. The President can work with Congress and try to get his spending but the House writes the Appropriation bills and spends the money. Which is why both Clinton and Obama did better after GOP regained House control. Obama had FOUR trillion-dollar deficits and then the GOP took the house and deficits fell. Clinton’s surpluses also occured after the GOP ran the House for a few years.

 

Neither.

 

But Clinton raised taxes when he controlled Congress. It wasn't just GOP spending control.

 

https://www.heritage.org/taxes/report/tax-cuts-not-the-clinton-tax-hike-produced-the-1990s-boom

And he later lowered them and produced better economic performance.

Source

 

They win votes by NOT compromising.

 

The best way to get more people to pay more income taxes would be having people making more income. Not rocket science.

 

They certainly do in the primaries.

 

I've been saying that for forty years and support the policies, supply side, that best accomplish that goal how about you?

Now back to the question if we want so much to be like the EU countries and their higher minimum wages are you for taxing even the lower incomes at those rates instead of not only not collecting income taxes from them but actually having them MAKE MONEY off the tax system as we do here and only require the top 20% to fund the government?

 

All I can say is Biden's tax increase starts right where his salary ends. How convenient.

 

So what system do you want?

 

Trump ran in 2016 promising not to cut rates on the top bracket. Joe wants to keep Trump's promise.

 

I want to get rid of income taxes and go to a VAT with monthly VAT rebates equivalent to taxes that would be paid on a base level of spending. For example, if we had a 20% VAT and wanted to make the first $30,000 of spending free of taxes, we could send everyone $500/month. (The numbers I used are to illustrate the concept, not propose a level of taxes or rebates.)

 

Do you think it should be lower?

Also, do you think his government wage (which likely includes pensions from congress as well) is his only income?

 

European countries cannot maintain their spending just on VAT taxes and as I noted even those workers making their minimum wages face up to 50% income taxes. That being said The Fair Tax would be a much better consumption tax than the VAT tax IMO.

 

Quote him.

 

And again why would ANYONE support higher tax rates especially now? They never pull in the promised revenue while tax rate cuts pull in record revenue increases

1990 1,032.0 4.1% <- Democrats tax increase agreed to by Bush for spending cuts the Dems never passed
1991 1,055.0 2.2%
1992 1,091.2 3.4%
1993 1,154.3 5.8% <- Clinton tax increase signed AUGUST 1993 however
"Taxpayers who owed additional 1993 taxes due to the
OBRA93 tax rate increases were given the option of
deferring payment of two-thirds of the tax that was in
excess of the tax that would have been owed at the 31
percent rate. Half of the deferral taxes were to be paid in
1995 and the remaining half in 1996 [2].
http://www.irs.gov/pub/irs-soi/93inintrts.pdf
1994 1,258.6 9.0%
1995 1,351.8 7.4% <- Even with the differed tax revenues now due revenue growth slow
1996 1,453.1 7.5%
1997 1,579.2 8.7% -> Gingrich/Kasich tax rate cuts
1998 1,721.7 9.0%
1999 1,827.5 6.1%
2000 2,025.2 10.8%
2001 1,991.1 -2%
2002 1,853.1 -7%
2003 1,782.3 -4% Bush tax rate cuts begin implimentation
2004 1,880.1 5% Bush tax rate cuts fully implimented
2005 2,153.6 15%
2006 2,406.9 12%
2007 2,568.0 7% <- Dems take back the Congress
2008 2,524.0 -2%
2009 2,105.0 -17%
2010 2,162.7 3%
2011 2,303.5 7% <- Republicans take back the house
2012 2,445.0 6%
2013 2,775.1 13%
2014 3,021.5 9% Obama Capital Gains tax increase and surcharge
2015 3,249.9 8%
OMB Historical Tables