Tax rates are going to be going up on all levels of the middle class

Discussion in 'Budget & Taxes' started by kazenatsu, Jun 4, 2021.

  1. Joe knows

    Joe knows Well-Known Member

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    Did I say it was bad? I am arguing that it is an increase in taxes. My property taxes are what’s going to be the major killer. Likely to double
     
    Last edited: Aug 6, 2022
  2. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Most States cap the property tax increase to a small percentage, unless its an investment property. So, the value of your assets doubled, and all you can do is complain ........

    Pessimism / negativity is an illness.
     
  3. Joe knows

    Joe knows Well-Known Member

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    If my property didn’t increase neither would my taxes and my kids could have an easier time affording housing. Yes I will complain. If you like higher costs it doesn’t mean I have to.

    all my costs have increased far more than my wage. Quit trying to make inflation look good just to make your vote seem better. The country doesn’t agree with and will show
     
    Last edited: Aug 6, 2022
  4. Bluesguy

    Bluesguy Well-Known Member Donor

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    And we are having to take more dollars out of our retirement accounts which are purchasing fewer goods and the next adjustment is 5 months away and will not make up for what we have lost all year.
     
  5. Bluesguy

    Bluesguy Well-Known Member Donor

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    If the top 1% pays 40% of income taxes and the top 10% pay 80% of income taxes and the bottom 50% pay virtually no income taxes how is that everyone else getting nickeled and dimed but the rich?
     
  6. (original)late

    (original)late Banned

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    Some people, and some corporations, pay no tax.

    Read The Price of Inequality by Stiglitz...

    But since you won't, here's the short version:

     
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  7. Bluesguy

    Bluesguy Well-Known Member Donor

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    Income taxes? Only if they have no income to tax and that is a small minority. But they all still pay taxes in the form of excise taxes and duties.


    If there is something from you would like to discuss then post it.

    On the meantime try again without the dodge

    If the top 1% pays 40% of income taxes and the top 10% pay 80% of income taxes and the bottom 50% pay virtually no income taxes how is that everyone else getting nickeled and dimed but the rich?
     
  8. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    One more way inflation makes taxes go up is through capital gains tax. For example, you might buy an investment at 100, over time there is 5 percent inflation, you then sell it for 105, you then have to pay taxes on that 5 of "profit", even though in reality its worth did not increase. That 105 you sold it for was worth the same amount as the 100 you paid for it years earlier.
     
  9. bringiton

    bringiton Well-Known Member

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    Plus the shifted burden (incidence) of income tax. Like the poor people liars claim pay no taxes.
    The top 1% in income is not "the rich," let alone the top 10%. The whole point of the constitutional prohibition on direct taxes is to ensure the rich can shift the burden of taxation off themselves and onto working people.
     
  10. Bluesguy

    Bluesguy Well-Known Member Donor

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    The whole point was that direct taxation by the federal government must be equally applied to the STATES. The idea that the States would provide most government duties to the citizens not the federal government which would be relatively small compared to them.

    We tax income therefore we group taxation by income and when Biden talks unfair he is talking income. We do not tax wealth at the federal level which is a totally unworkable proposition anyway as the several advance nations that have attempted it found out.
     
  11. Bluesguy

    Bluesguy Well-Known Member Donor

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    Only because they had carryover losses from the previous year.
     
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  12. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    bringiton, I very much disagree with you, on this statement. However, you are bringing up a separate complicated issue, probably best to have a discussion on in a separate thread.

    I have noticed that many times in threads, when a problem is pointed out resulting from a government policy decision, those on the Left bring up a diversion. Something like "Well, we should be doing this", to solve that problem. But their suggestion is controversial and brings up a whole other complicated argument, and in reality will likely never get done. So they avoid the original issue in the first place, by dismissing the problem and proposing an alternative solution to the problem that is unlikely to come to fruition.

    If doing A is causing B, and B is a bad thing, and you argue that doing C will solve the problem of B, but not everyone agrees, many people think doing C will make the problem even worse, then that is simply NOT a valid argument in favor of ignoring the fact that A is causing B.
    Those on the Left have their priorities out of order. They start doing something that they know will cause a problem, without everything already in place. Imagination of a solution isn't a solution.
    Other examples are supporting high levels of immigration and then claiming we don't need to worry about traffic congestion because government can pursue alternative public transportation options. Or trying to force everyone to use electric cars before the electric power actually is produced from all renewable energy.
     
    Last edited: Apr 23, 2023
  13. Turtledude

    Turtledude Well-Known Member Donor

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    why do lefties pretend that the rich don't pay taxes and change the definition based on how it fits their arguments? when they claim the rich don't pay enough-the rich are billionaires. when the lefties propose tax hikes-it hits everyone making upper middle class incomes
     
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  14. Lil Mike

    Lil Mike Well-Known Member

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    The Trump tax cuts on individual income taxes expire in 2025, so there will be a tax increase then without the Democrats having to do anything.
     
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  15. bringiton

    bringiton Well-Known Member

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    I don't know of any "lefties" who do that.
    Then I'm not a leftie by your definition, because I don't think income should be taxed at all.
     
  16. Turtledude

    Turtledude Well-Known Member Donor

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    interesting-let me guess, you want to tax wealth?
     
  17. bringiton

    bringiton Well-Known Member

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    I want to tax privilege -- and yes, most of what most people consider "wealth" consists of privilege.
     
  18. Turtledude

    Turtledude Well-Known Member Donor

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    sounds like complete idiocy-just another envy based bit of silliness. would privilege entail say athletic talent or high IQs?
     
  19. FreshAir

    FreshAir Well-Known Member Past Donor

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    yep, the Trump tax cut was a permanent CORPORATE tax cut, the middle class only got a temporary carrot
     
  20. FreshAir

    FreshAir Well-Known Member Past Donor

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    the reality is, all the rights tax cuts for the rich are raising the debt, and eventually that debt has to be paid back, thanks Republicans
     
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  21. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Sounds like typical Leftist mentality.
    Why don't you start a thread about it and tell us what those supposed tax cuts are. (Feel free to leave the link here if you want)
     
    Last edited: Apr 26, 2023
  22. FreshAir

    FreshAir Well-Known Member Past Donor

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    seems the right thinks you can pay lower payments on your credit cards and the debt won't go up

    the right only cares about tax cuts for the rich
     
    Last edited: Apr 26, 2023
  23. Lil Mike

    Lil Mike Well-Known Member

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    No tax cut is permanent.

    Of course the Democrats, when they had the House, could have raised corporate taxes through the roof. For some mysterious reason, they didn't even try (except in trying to take a way a tax increase, SALT).
     
  24. bringiton

    bringiton Well-Known Member

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    :roll: How would you go about distinguishing envy from righteous opposition to injustice that benefits others? Do you think envy was the reason the abolitionists opposed chattel slavery? Do you dismiss all opposition to institutionalized injustice as "envy-based silliness"?
    You are talking about mere advantages, which do not deprive anyone else of anything they would otherwise have. Privilege (from the Latin for "private law") is created by law. It is a legal entitlement to benefit from the abrogation of others' rights without making just compensation. See if you can think of any examples.
     
    Last edited: Apr 26, 2023
  25. Turtledude

    Turtledude Well-Known Member Donor

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    most of teh people who whine about others having advantages are envious that others work harder and smarter. what privileges do the rich actually get from government? did you see what senile Joe is doing with mortgages? screwing people with higher credit scores to help those with lower scores
     

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