Let’s guess which five percent don’t get an increase…
Only 5% of the wealthiest households would come out ahead under Trump’s plans.
Which is his intention.
I’m still pissed about having to pay more in taxes this year thanks to this moron’s prior “tax cuts.” The fact that this jackass wants normal Americans to pay even more in taxes should be enough to sink his campaign but here we are.
This dude raised my taxes more than any previous administration.
Somehow even more than Bush with his two pointless wars.
Does anyone remember the oppressive taxation of the 1990’s?
No?
We had a budget surplus then, and we created the modern internet.
Trump supporters don’t care, they’re happy to pay the Trump tax as long as the “right” people are being hurt/killed/displaced
And they will look at you with a straight face and say how much better the economy was under Trump. They really don’t care about any other factors, they will literally attribute any good thing to have been the masterwork of Trump, and anything they don’t like is some evil plot by Democrats intentionally structured to hurt them specifically.
TBF, they constantly hear lies about this by foreign controlled media.
(Fox News)
edit: they are probably naturalized citizens by now, but the point still stands
and even to allow homeowners to take unlimited federal deductions for the property taxes they pay to state and local governments.
You could do that before Trump’s 2017 Tax Cuts And Jobs Act. They capped it to punish citydwellers, which are majority Democrat.
How is that punishing to city dwellers?
I get that it rewards non-city dwellers more than people who live in cities, but is that really the same thing?
Generally those who own their home in cities have higher property tax bills. Prior to the TCJA, there wasn’t a dollar cap on your real estate tax deduction if you itemized. Now there is a $10k cap which includes your state taxes paid (like from your w2 or estimated taxes). For someone like me who lives in a somewhat low COL area…no biggie. My property taxes are pretty low and don’t come near that cap. But it’s pretty easy to hit that cap when you live in a city and your property taxes alone are 10k or more…but before that u also were able to deduct your state taxes paid. So many people who previously were able to itemize and even might be able to now if they got the full amount of property taxes, will only get the standard decision and thus more of their income is taxable.
There are sources that say that the property tax deduction primarily benefited higher income earners, but some of these higher income earners also live in higher COL areas and thus don’t make as much money as it may seem because it’s so much more expensive to live where they live.
Now there is a $10k cap which includes your state taxes paid
I figured there was something I was missing and I think thats it.
Fwiw, I really appreciate the long-ish form response. I feel most others were content to downvote and move on, but I feel I’ve learned something that I wasn’t otherwise motivated to go learn on my own.
It’s my profession and I’m a little bit of a nut about it (in that I like the job, haha) plus many people do not understand taxes - nor should they because it’s been made SOOO unnecessarily complicated. So I’m always happy to try and explain our ridiculous system, lol. Thanks for reading it!
Screw you how dare you be civil on social media
Property in the city is worth more
bUt TrUmP iS bEtTeR fOr ThE eCoNoMy
Well yeah, it’s called trickle down economics. The top 5% are all job creators, they invest in companies. It’s not true that the 5% just let their wealth sit there and accumulate on an imaginary score board to beat the next richest person.
It’s not like the richest people in the world are hurtling human civilization into a extinction level events to hoard more wealth.
It’s not like the rich are looting this country to pad their bank accounts.
The rich are going to use all that money to benefit everyone./s
Better for the *Russian economy 🇷🇺
Fucking duh. So you think any of the idiots that will vote for him will bother to read this?
Yeah they still support him after the 2016 tax shitshow that cut taxes for the rich and raised it for everyone else.
Yeah, but what if you become rich overnight, it might benefit you.
TBH I don’t think it would. I truly believe the rich are voting against their own interests by impoverishing the masses, stripping regulations, and weakening democracy.
I was being sarcastic
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The sarcastic part was that I as an individual would not become rich overnight
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Use the /s or be corrected
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Well remember many of them got $1000 bonuses as a reward from their employers for voting Trump, or something.
For most of my life I blissfully had no idea who Trump was, as I grew up in the Middle East and not North America. While I did hear his name a few times I had no idea who he was or what he did or anything about him.
But the first time I heard him was back in 2010 when I saw YouTube interviews with Trump I wasn’t initially sure of what to make of his proposed tariffs with China (and he was talking about them back then), but after just some thinking (I had just graduated with a Bachelors in business at the time) and more reading I concluded that his idea was bonkers.
Then cracked.com made an entire series of articles that were wildly successful that documented just what a horrific businessman and human being he was. You know on how comments sections anywhere are often highly toxic and conflict ridden? The comments on the Trump articles were actually quite unanimous on how much everyone hated Trump!
I still can’t believe that he won and I cannot believe that his presidency was real.
You do realize he didn’t win, right?
Its a well-documented historical fact that Clinton got more votes than Trump, but the US isn’t a democracy. Trump declared himself the winner and nobody did anything to stop him
This obsession to shift the definition of what’s required to be president just so you can continue a world view of winners and losers is as meaningless as it is American. Trump won the election due to the electoral college and gerrymandering shenanigans, but lost the popular vote. Why not say that most people didn’t want him as a president and why did the system allow it instead of mapping this into Americas obsession with winners and losers? He literally did not win, and it highlights a flaw in the system that needs to be addressed.
Nobody “did anything to stop him” because at that point, you are dropping down to his level and calling for an insurrection. That the side of morons with guns and expanding prison systems has no problems with insurrections might highlight another even darker problem, one which might be a bigger problem when those morons are also the ones crowding around and abusing positions of authorities up to the federal supreme court level, regardless of whether they are a minority.
it’s not because trump declared himself the winner. it’s because in the US, empty lands can have more votes than people. it’s called electoral college but that’s what it really is. essentially rocks and dirt voting.
When I learned about the electoral college in a US school, I was told by my teacher that it exists so the delegates can override the people’s vote in an event where they voted for someone clearly terrible (eg a clown or a fascist)
Again, Trump lost the popular vote, and the US just let him claim that he won, when they should have stopped it.
The electoral college exists to give slave states more votes.
that’s the excuse. the real reason is to give republicans/conservatives more voting power, and for a long time now, any chance of winning elections really.
you know how they cry about DEI because they think it gives minorities undue positions? the electoral college is that kind of DEI for conservatives. otherwise the country wouldn’t be this backwards so consistently all the time.
voter suppression and gerrymandering helps too of course. basically the less democratic the voting process the better chances they have.
He didn’t declare himself the winner. The voting system is a bit more complex and while it’s possible to completely override the election results through the electoral college, usually what happens is that the blue candidate gets a lot more votes in populous states with big cities (California, NY, etc), but as soon as you’re one vote ahead in a state, the extra million or 2 don’t matter.
Something that’s been proposed to combat this without moving to an entirely new model, is for states to no longer be all or nothing. Instead of candidate A getting 60% of the votes and 100% of the EC vote, they’d get 60% of the EC vote and the other guy would get 40%. Then all votes would matter, rather than only swing state votes.
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Only 95%? You gotta pump those numbers up to 99%, those are rookie numbers.
Peter Thiel or the Heritage Foundation, probably
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Would the anti-tax lobby be for such massive tax increases? Surely, the anti-tax lobby is made more than 1%ers?
I wish the common American would finally understand how all the wealth just wasting away in a few accounts is such a detriment to this country. From creating lobbying power to underfunding public works; it hurts the people and economy severely. I’m always asked, should a person be punished for making a lot of money… the answer is yes, they should find something more productive to do.
And if its anything like the last it will still raise the deficit.
Now, do the correlation between the people who wouldnt have their texes increased with the people who hold most of the national wealth. Hm.
But it would lower it for the most important 5%!
Fascism is capitalism in decay Fascism is capitalism in decay Fascism is capitalism in decay Fascism is capitalism in decay
Daniel Guérin says fascism is the death throes of capitalism (or something like that)
I think we need more taxes because we need to be the most on everything. We arent the best country if we arent the most taxed its just a fact.
