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Biden and Democrats getting ready to sharply raise taxes on businesses and "the rich"

6.5K views 89 replies 33 participants last post by  Rural Buckeye Guy  
#1 ·
Glad April 15 is coming soon? It's about to rain on you even more.

Biden and the Democrats are getting ready to implement the largest tax increase since 1942 on businesses and "the rich".



From the article:

"Democrats have spent the last several years clamoring to raise taxes on corporations and the rich, seeing that as a necessary antidote to widening economic inequality and a rebuke of President Donald J. Trump’s signature tax cuts.

Now, under President Biden, they have a shot at ushering in the largest federal tax increase since 1942. It could help pay for a host of spending programs that liberal economists predict would bolster the economy’s performance and repair a tax code that Democrats say encourages wealthy people to hoard assets and big companies to ship jobs and book profits overseas. "


 
#2 · (Edited)
Fell dirty having clicked on that link...LOL

Like I stated in another thread, the people who voted for bumbling braindead bribem and his communist sidekick were tired of keeping to much of their own money so they feel the need to let the government take it and spend it on pet projects, reparations, buying elections, paying for those who enter our country illegally, sending it to other countries and blowing it however they see fit...

Clearly they feel they shouldn't be entitled to the money they have worked for so they literally voted to give it to the government instead.
 
#3 ·
Glad April 15 is coming soon? It's about to rain on you even more.

Biden and the Democrats are getting ready to implement the largest tax increase since 1942 on businesses and "the rich".



From the article:

"Democrats have spent the last several years clamoring to raise taxes on corporations and the rich, seeing that as a necessary antidote to widening economic inequality and a rebuke of President Donald J. Trump’s signature tax cuts.

Now, under President Biden, they have a shot at ushering in the largest federal tax increase since 1942. It could help pay for a host of spending programs that liberal economists predict would bolster the economy’s performance and repair a tax code that Democrats say encourages wealthy people to hoard assets and big companies to ship jobs and book profits overseas. "
Taxes are like the weather, everyone complains about them, buy nobody ever does
anything about them.

Thanks, SamChevel
 
#4 ·
My mom just told me about this tax for truck drivers, taxed per mile or something, yeah that’ll make things cheaper

 
#19 · (Edited)
My mom just told me about this tax for truck drivers, taxed per mile or something, yeah that’ll make things cheaper

The tax is not just for truckers. Everyone may have to pay it if it gets pushed through. I have not seen anything in Buttigieg's statements that indicates this is a truckers-only tax. They want to do this as an alternative to raising the gas tax. They are trying to convince people that this us a "users pay tax." Guess what? So is the gas tax already in place, but raising the gas tax is much more visible to voters.

Buttigieg Proposes A Mileage Tax To Pay For Infrastructure Bill

Vehicle mileage tax could be on the table in infrastructure talks, Buttigieg says

“I’m hearing a lot of appetite to make sure that there are sustainable funding streams,” the Transportation secretary said. A mileage tax “shows a lot of promise if we believe in that so-called user-pays principle: The idea that part of how we pay for roads is you pay based on how much you drive.”
And don't be fooled into thinking that the plan is intended to help rebuild infrastructure. Biden stated during the campaign that his infrastructure plan would rebuild the country using good-paying union jobs.

This is another union payback using taxpayer money with the side benefit of repairing crumbling infrastructure at the highest cost possible.
 
#9 ·
That's why people voted for them. Free **** paid for by others. No reason for the middle class to participate anymore. Corporations will move overseas and pass costs on to consumers. So the same people trying to "soak the rich" will complain about higher prices on goods, services, and energy. Because they are stupid.

I don't care about them anymore. Time to soak them instead. It's much easier than soaking the rich.
 
#10 ·
That's why people voted for them. Free **** paid for by others. No reason for the middle class to participate anymore. Corporations will move overseas and pass costs on to consumers. So the same people trying to "soak the rich" will complain about higher prices on goods, services, and energy. Because they are stupid.

I don't care about them anymore. Time to soak them instead. It's much easier than soaking the rich.
So, do you think that wating for the next election and voting for the same ole skunks will
do any good? I just get a good laugh at every cycle that some still think that they make a
difference.

Thanks, SamChevel
 
#11 ·
Glad April 15 is coming soon? It's about to rain on you even more.

Biden and the Democrats are getting ready to implement the largest tax increase since 1942 on businesses and "the rich".



From the article:

"Democrats have spent the last several years clamoring to raise taxes on corporations and the rich, seeing that as a necessary antidote to widening economic inequality and a rebuke of President Donald J. Trump’s signature tax cuts.

Now, under President Biden, they have a shot at ushering in the largest federal tax increase since 1942. It could help pay for a host of spending programs that liberal economists predict would bolster the economy’s performance and repair a tax code that Democrats say encourages wealthy people to hoard assets and big companies to ship jobs and book profits overseas. "
Could be the rich should pay more, I do not know, but I do know that a lot of the rich
would not be rich if they were not in bed with the goverment, a lot to think
about.

Thanks, SamChevel
 
#20 ·
Could be the rich should pay more, I do not know, but I do know that a lot of the rich
would not be rich if they were not in bed with the goverment, a lot to think
about.

Thanks, SamChevel
Since government is a wholly-owned subsidiary of the transnational corporations, and since at least 90% of them are in the very wealthy class themselves, I wouldn't count on any taxes hitting their wallets too hard. It's never ceased to amaze me how the "tax the wealthy" line seems to hit the middle class 10x harder than it hits the wealthy. Mom & pop shops have gone out of business in droves over the past year, thanks in part to over-regulation and taxation. Government and the large corps have done very well. Since they're the ones making the rules, does anyone really think they'll take money from their own pockets?
 
#12 ·
My bosses don’t fall into the “super rich” category, though they are comfortably in the “upper middle class.” They started by learning construction right after high school, then started their own contractor business, sold that, and bought the septic company. In less than 10 years, they’ve increased the company’s value to ~$4m, and employ 18 people. They do have a healthy personal salary from it, but most of the revenue goes right back into the company. In 6 months I’ve gotten two raises, and my fiancé just got hired in the office for $2 more than she asked for.

New taxes on the company will only make life harder for me. We’re trying to buy a new truck for me (the one I’m using now is on it’s last legs), but that might not happen now.
 
#16 ·
When you say it like that, it sounds like a huge increase but it is only a partial rollback of the big tax cut. Trump cut corporates rates from 35% to 21%, and now Biden wants to increase it back up to 27%. So the 'largest tax increase since 1942', is actually an 8% tax cut from like 2 years ago. Isn't it interesting how corporations can get a massive tax cut and pretend like they are being picked on? Also how many people are pretending to be fiscally conservative here, yet they are fine with those tax cuts adding trillions to the national debt? Of course the tax cuts have to be rolled back some what, otherwise the entire country is going to go bankrupt.
 
#18 ·
Of course the entire country is going to go bankrupt eventually. When was that in doubt?
Never fear no matter whatever extra taxes are collected far more will be spent at an ever increasing rate.
If the currency is destroyed those who don't have anything won't lose as much as those who do... making it all fare.
Obamao was asked about his opinion on the suggestion that raising taxes would yield less tax revenue and his reply was that it wasn't about increasing revenue it was about making things fair.
 
#24 ·
That the problem we should not be forced in to be coming criminals , the government thinks we are all stupid .
All tax’s could be Easly turned into sales tax.
Everyone pays a fair share , no need for Irs
Spend you earnings and Uncle Sam gets there cut .
That’s just to easy and we would see how mush we actually paying at a glance .
It’s all just smoke and mirror .
 
#23 ·
Eventually the world geopolitical/financial situation is going to change and our debtors will decide continuing to loan us money is no longer in their best interest. From what I understand even a hypothetical 100% tax rate couldn't cover current federal spending. As it is, even with taxation and continuation of debt our level of spending is only maintained by inflation, so we literally can't borrow money fast enough.

When the tap gets cut off and there's no more credit, I expect the situation will make Greece and Argentina look like a gentle readjustment.
 
#25 ·
I do not think any goverment in the history of mankind has ever payed off their debt.
It is either defauted on or inflated away. There is no right or wrong. Someone much
smarter than me once said, that people get the goverment that they deserve. I have
heard talk if a fourth stimulis check. Anyone who has cashed a stimulis check can
be counted amoung those getting the goverment that they deserve.

Thanks, SamChevel
 
#34 ·
There is two sides to every story. Those that have vs those that do not have.
Those that do have want to keep what they have while those that do not have want to
have what those that have, have. It is a false dicamonty. The simply solution whould
be for the people in power to give everyone the same wealth opportunity. But then
if they did that then no one whould no longer need them.

Thanks, SamChevel
 
#47 ·
Frankly, there is no political remedy against a "tax and bribe" democracy.
Your only real option is to withdraw consent from it.
Under the republican form, people who have endowed rights are not subject to taxation, regulation nor trespass.
But as long as you consent to be governed, as their subject citizen, shut up, sit down, pay and obey.
. . .
Don't believe me - go read the law for yourself - available at any county courthouse law library.
. . .
No government instituted to secure rights can tax rights, lest they destroy those rights by excessive taxation.
ONLY GOVERNMENT PRIVILEGES ARE TAXABLE.
And they're all voluntary.
 
#83 ·
Glad April 15 is coming soon? It's about to rain on you even more.

Biden and the Democrats are getting ready to implement the largest tax increase since 1942 on businesses and "the rich".



From the article:

"Democrats have spent the last several years clamoring to raise taxes on corporations and the rich, seeing that as a necessary antidote to widening economic inequality and a rebuke of President Donald J. Trump’s signature tax cuts.

Now, under President Biden, they have a shot at ushering in the largest federal tax increase since 1942. It could help pay for a host of spending programs that liberal economists predict would bolster the economy’s performance and repair a tax code that Democrats say encourages wealthy people to hoard assets and big companies to ship jobs and book profits overseas. "
I find it odd after 60 years the Democrats still can not see that tax hikes always bring in less revenue to that treasury! The fact is their goal is to cause pain to anyone that works hard. Add a bit of jealousy
in there.
 
#86 ·
I've talked to quite a few Pelosi and Biden democrats. Their attitudes seem to distill down to three things:

1) There is no problem that cannot be solved by the government. The government is best. Especially if they are given enough money.

2) Anyone with wealth gained it through either: 1) racism, 2) exploiting others, 3) inheriting it, 4) a combination of all three. You obviously didn't work for it.

3) There are plenty of wealthy people in the country who can pay more taxes. And because of the reasons in (2) above, you OWE your ill-gotten gains to the government! In the interests of "fairness", "equitability", and "social justice", you must give your money to the government for "fair distribution". Compulsorily, if necessary.
 
#88 ·
Biden and the Democrats are getting ready to implement the largest tax increase since 1942 on businesses and "the rich".
my guess is there will be MANY exceptions cut out for their leftist comrades, but not for us....or the mom and pop businesses that theyre trying to destroy in the first place.
All this does is run companies out of the country....the point, obviously.
We had a company investing a billion $$$ in our state thanks to Trump....and just like the pipeline the second Biden started signing orders they pulled out and those 1500 high paying union jobs that they were bringing to my state are now going to Mexico as of about two weeks ago or so.

someone seriously needs to take this idiots pen away and put him in a home for the elderly.