Breaking: Trump Admits His Previous Tax Cuts Were For The Wealthy Few

Considering the policies and objectives of the New Democratic Party, there is no evidence of that goal.

 

Rich spend more than the poor and pour more money into the economy overall. The property taxes alone from these rich communities help fund the lower housing communities and their school districts.

 

Maybe they should try saving so they can be rich one day. Investing it for example in the economy...or in themselves. I wonder why investments often pay a return? Where does that money magically come from? Again, poor people are free to spend their money how they want...they have to go earn it. Just like the rich guy. "Poor" people might get a tax cut, if they paid taxes to begin with. What we are discussing is the income tax cuts that were created last year...if you are paying taxes, you got a tax cut...the middle class and lower class got the same sort of cut as the rich...

 

Whether they stash their money elsewhere or not, the wealthy already pay the lions share of income taxes on the local, state, and Federal level.

The wealthy cause more people to have jobs and careers.

The list goes on and on.

The big problem with falling victim to the tax the rich scheme is that such reliance dooms the governments that do that to failure. Why, because the rich don't stay rich. They could make $50 million one year, and $1 the next.

Just because someone has $40 billion in stock and investments doesn't mean someone else can't get a job.

The key is a return to the key economic fundamentals that helped create the middle class. Globalism, as practiced by the leaders of the New Democratic Party and the powers behind it, dooms that possibility from taking place.

 

The rich communities mainly fund themselves. And your statement that the super rich “pour more money into the economy” than other classes is emphatically false, especially as a percentage of their overall wealth.

 

Sure. How many jobs created during the Obama Administration as compared to how many lost by Bush?

 

Well I guess since Trump and his family make their products overseas and build their golf courses and hotels overseas they must be Democrats.

And two of the fundamentals that helped make the middle class was unions and public education both of which are anathema to the Republicans.

 

Well if the rich are such an asset to society as a whole how do you explain the fcat that most of America has stood still financially while the rich have gained control of a higher and higher percentage of the total assets of America?

 

Perhaps, giving you the benefit of the doubt, you didn't understandbit when I said most of the impact of increasing the standard deduction was offset by elimination of the individual exemptions. And just so you know the increase in the difference between the old and new deductions is only of benefit to those who would otherwise have paid income tax which is less than 50% of the households.

 

We'll see come tax time. The one guy I know who's already filed said the new standard deductions put about $2K more in his pocket. Bottom line will depend on individual circumstances, but youre right... the new standards will only help folks who pay taxes.

 

Close as I can figure, Obama created about 12 jobs and lost 4.3 million.

 

It did not lead to all personal exemptions???

 

Can you not read, they got at minimum an additional $5,650.

 

Can you please quote him?

 

No it eliminated the personal deductions and raised the standard deduction. This will explain:

https://www.bustle.com/p/does-the-t...ion-the-change-will-hit-families-most-7651167

 

This article number one is discussing someone making $314,000 don't you consider that rich? Number two most making $314,000 have other exemptions and the standard deduction won't even be used, if they don't they should go to a financial planner sooner than later.

 

I posted it because it explains for those who appear to have never paid taxes how the individual exemptions were eliminated while the standard deduction was increased. Some of the people on this forum appear to think that people actually benefitted by the whole difference between the old and new standard deductions.

And of course they also think that the change benefitted those who wouldn't have paid taxes anyway..

 

LOL

Do you really want to march down that worn out debate topic?

Yes, lots of people became baristas during the Obama administration, as the Nation recovered from the banking crisis.

 

Oh geeze.

If you can't rise above worn out and discredited talking points, then I guess you're going to have to find another victim willing to play your game.

 

How do I explain it?

Pathetic policy by the Obama Administration, and the rich are quite a bit smarter than the average person who just stands around and complains.

Want to make a lot of money, figure out what people need, and sell it to them. That includes making your job so valuable to an employer, they are willing to pay you more.

And as to unions, I have no problem with private sector unions. Sadly, their greed has led to their demise. Public Sector Unions are without a doubt the most corrupt and potentially dangerous group inside our borders.

 

No wealth inequality has bern increasing for about forty years so blaming it on Obama is just demonstrating ignorance of fact. Now they did prosper during Obama because they already had the funds to benefit from the housing and stock market disaster created by Bush.

And the unions didn't die because of their greed. They died because the rich hate to share even a tiny percentage of their money and the Republican party is owned by the rich. Let me know when you find any rich members of any union say as compared to the owners of the businesses the unions work for.

 

Sorry but just because you have heard them before doesn't diminish their truth.

 

Private sector unions died because of their greed.

The die was cast way back in 1959 with the ill advised US Steel strike.

https://en.wikipedia.org/wiki/Steel_strike_of_1959

In the long run, the strike devastated the American steel industry. More than 85 percent of U.S. steel production had been shut down for almost four months. Hungry for steel, American industries began importing steel from foreign sources. Steel imports had been negligible prior to 1959. But during the strike, basic U.S. industries found Japanese and Korean steel to be less costly than American steel even after accounting for importation costs. The sudden shift toward imported steel set in motion a series of events, which led to the gradual decline of the American steel industry.[1][2][7] ​

 

Just because you repeat them doesn't mean they approach the truth.

 

Taxing the rich won't lighten your tax burden one penny.