Post by the Scribe on Mar 10, 2020 11:46:34 GMT
GOP TALKING POINT: TRUMP AND THE GOP GAVE THE MIDDLE CLASS THE LARGEST TAX CUT IN HISTORY
CONSERVATIVE CRONY CAPITALISM AT WORK.
Every time we get a RepubliCON president and a RepubliCON majority HOUSE they force through TAX CUTS FOR THE WEALTHY and TAX INCREASES ON THE MIDDLE CLASS.
Even though the 2017 GOP tax cut is leading to spiking federal deficits thanks to its generous benefits to corporations, many middle-class Americans are winding up having to pay more because the bill eliminated multiple deductions used by middle-class families to lower their annual tax payments. As time has passed, that tax cut has not worn very well. People aren't seeing a bump in their own take-home pay.
Among other things, the tax bill capped deductions for taxes paid to state and local governments, while massively increasing the amount of money you must donate to qualify for a charitable giving deduction."
Tax refunds also took a hit. Those who filed their returns have seen their refund amounts an average 8.4% lower than last year. The average tax refund so far is $1,865, down from $2,035 in 2018.
A single homeowner that itemizes is getting screwed. Blue State homeowners also got screwed which is why many are fleeing or selling their homes. I have no doubt the GOP tax plan was set up to punish those in more liberal states that are generous to fellow citizens. The joke will be on the Cons when these blue staters move to red states because of it and start voting Liberals into office. Just a matter of time. Right wing greed and vindictiveness will come back to bite them.
If there is ANY doubt the GOP, Republicans, Conservatives, the right wing, FOX News junkies, etc. are in the pocket of Billionaires and Corporations this ought to prove it. The Republican Party is nothing more than a front group for billionaires and transnational corporations and conservatism is the anointed cult created to do their bidding.
www.takeoverworld.info/conservatism.htm
www.Takeoverworld.info/overclass.html
PROOF TRUMP AND THE GOP KNEW THEIR TAX CUT WAS FOR THE WEALTHY AND NOT FOR THE MIDDLE CLASS AS THEY PROMISED:
Whatever you might think of the merits of another tax cut, it's not going to happen next week as the president suggested. Congress is not even in session until after the election. Moreover, no one outside the White House seems to have much of an idea of what the president is talking about.
This sounds just like the PROMISED BIG BEAUTIFUL HEALTHCARE PROGRAM that would be implemented in a first term if elected.
American taxpayers paid over $90 billion more under Trump tax law
www.yahoo.com/finance/news/american-taxpayers-paid-nearly-100-billion-more-to-irs-under-trump-tax-law-194900782.html
Corporations paid $91 billion less in taxes in 2018 under Trump's tax law
Kristin MyersYahoo FinanceMay 30, 2019
finance.yahoo.com/news/corporations-paid-91-billion-less-in-taxes-in-2018-under-trumps-tax-law-160745447.html
Not just Amazon: 60 big companies paid $0 in taxes under Trump law
Kristin Myers 7 hours ago
www.yahoo.com/finance/news/companies-paying-zero-taxes-trump-law-155944124.html
Trump’s Trillion-Dollar Hit to Homeowners
By reducing deductions for real estate taxes, Trump’s 2017 tax plan has harmed millions — and helped give corporations a $680 billion gift.
by Allan Sloan Oct. 10, 5 a.m. EDT
www.propublica.org/article/trumps-trillion-dollar-hit-to-homeowners#168716
Trump tax ‘cut’ actually increased taxes for 10 million American families, report finds
A Center for American Progress estimate found that 10,260,263 families saw their taxes go up, thanks to the 2017 law.
JOSH ISRAEL
APR 12, 2019, 12:48 PM thinkprogress.org/10-million-american-families-saw-tax-increases-under-trump-tax-cut-aa97d7aee410/
9 Stats That Show the Tax Code Favors the Ultra-Rich
Without dramatic tax reform, inequality will continue to skyrocket.
BY IZII CARTER
inthesetimes.com/article/22098/tax-injustice-income-rich-top-earners-tax-rate-saez-zucman-sanders-warren
Here are nine statistics from The Triumph of Injustice that show how tax injustice has contributed to inequality in America and the urgent need for reform:
52% — U.S. corporate tax rate in 1952
21% — U.S. corporate tax rate after Trump’s tax law
0% — Corporate tax rate in Bermuda
60% — Portion of profits U.S. multinationals collectively book in low-tax countries like Bermuda and Ireland
$25,000 — FDR’s proposed “maximum income” in 1942 (about $400,000 today), above which income would be taxed 100%
$1,500,000 — Average income of the top 1% of American earners today
37% — Current top marginal tax rate in America, 20% below the historical average
2018 — First year in history that America’s top 400 richest individuals paid less in taxes than the bottom 50% of earners
25% — Fraction of unpaid taxes owed by the ultra-rich, almost 15% more than for other income levels
21 Truths That Prove Republicans Have Been Wrong About Everything
soapboxie.com/us-politics/21-TruthsThat-Prove-Republicans-Have-Been-Wrong-About-Everything
Read more: ronstadt.proboards.com/thread/4324/taxes-trumpublican-budget-tax-plan#ixzz68iaNEuvK
CONSERVATIVE CRONY CAPITALISM AT WORK.
Every time we get a RepubliCON president and a RepubliCON majority HOUSE they force through TAX CUTS FOR THE WEALTHY and TAX INCREASES ON THE MIDDLE CLASS.
Even though the 2017 GOP tax cut is leading to spiking federal deficits thanks to its generous benefits to corporations, many middle-class Americans are winding up having to pay more because the bill eliminated multiple deductions used by middle-class families to lower their annual tax payments. As time has passed, that tax cut has not worn very well. People aren't seeing a bump in their own take-home pay.
Among other things, the tax bill capped deductions for taxes paid to state and local governments, while massively increasing the amount of money you must donate to qualify for a charitable giving deduction."
Tax refunds also took a hit. Those who filed their returns have seen their refund amounts an average 8.4% lower than last year. The average tax refund so far is $1,865, down from $2,035 in 2018.
A single homeowner that itemizes is getting screwed. Blue State homeowners also got screwed which is why many are fleeing or selling their homes. I have no doubt the GOP tax plan was set up to punish those in more liberal states that are generous to fellow citizens. The joke will be on the Cons when these blue staters move to red states because of it and start voting Liberals into office. Just a matter of time. Right wing greed and vindictiveness will come back to bite them.
If there is ANY doubt the GOP, Republicans, Conservatives, the right wing, FOX News junkies, etc. are in the pocket of Billionaires and Corporations this ought to prove it. The Republican Party is nothing more than a front group for billionaires and transnational corporations and conservatism is the anointed cult created to do their bidding.
www.takeoverworld.info/conservatism.htm
www.Takeoverworld.info/overclass.html
PROOF TRUMP AND THE GOP KNEW THEIR TAX CUT WAS FOR THE WEALTHY AND NOT FOR THE MIDDLE CLASS AS THEY PROMISED:
The president has been offering supporters a fix for this: another tax cut, this time directed at the middle class rather than those at the top of the income ladder.
"We're going to be putting in a 10 percent tax cut for middle-income families," Trump told supporters in Houston Monday. "It's going to be put in next week."
ronstadt.proboards.com/thread/4172/economy-obama-trump?page=8
"We're going to be putting in a 10 percent tax cut for middle-income families," Trump told supporters in Houston Monday. "It's going to be put in next week."
ronstadt.proboards.com/thread/4172/economy-obama-trump?page=8
Whatever you might think of the merits of another tax cut, it's not going to happen next week as the president suggested. Congress is not even in session until after the election. Moreover, no one outside the White House seems to have much of an idea of what the president is talking about.
This sounds just like the PROMISED BIG BEAUTIFUL HEALTHCARE PROGRAM that would be implemented in a first term if elected.
American taxpayers paid over $90 billion more under Trump tax law
www.yahoo.com/finance/news/american-taxpayers-paid-nearly-100-billion-more-to-irs-under-trump-tax-law-194900782.html
Corporations paid $91 billion less in taxes in 2018 under Trump's tax law
Kristin MyersYahoo FinanceMay 30, 2019
finance.yahoo.com/news/corporations-paid-91-billion-less-in-taxes-in-2018-under-trumps-tax-law-160745447.html
Not just Amazon: 60 big companies paid $0 in taxes under Trump law
Kristin Myers 7 hours ago
www.yahoo.com/finance/news/companies-paying-zero-taxes-trump-law-155944124.html
Trump’s Trillion-Dollar Hit to Homeowners
By reducing deductions for real estate taxes, Trump’s 2017 tax plan has harmed millions — and helped give corporations a $680 billion gift.
by Allan Sloan Oct. 10, 5 a.m. EDT
www.propublica.org/article/trumps-trillion-dollar-hit-to-homeowners#168716
Trump tax ‘cut’ actually increased taxes for 10 million American families, report finds
A Center for American Progress estimate found that 10,260,263 families saw their taxes go up, thanks to the 2017 law.
JOSH ISRAEL
APR 12, 2019, 12:48 PM thinkprogress.org/10-million-american-families-saw-tax-increases-under-trump-tax-cut-aa97d7aee410/
9 Stats That Show the Tax Code Favors the Ultra-Rich
Without dramatic tax reform, inequality will continue to skyrocket.
BY IZII CARTER
inthesetimes.com/article/22098/tax-injustice-income-rich-top-earners-tax-rate-saez-zucman-sanders-warren
Here are nine statistics from The Triumph of Injustice that show how tax injustice has contributed to inequality in America and the urgent need for reform:
52% — U.S. corporate tax rate in 1952
21% — U.S. corporate tax rate after Trump’s tax law
0% — Corporate tax rate in Bermuda
60% — Portion of profits U.S. multinationals collectively book in low-tax countries like Bermuda and Ireland
$25,000 — FDR’s proposed “maximum income” in 1942 (about $400,000 today), above which income would be taxed 100%
$1,500,000 — Average income of the top 1% of American earners today
37% — Current top marginal tax rate in America, 20% below the historical average
2018 — First year in history that America’s top 400 richest individuals paid less in taxes than the bottom 50% of earners
25% — Fraction of unpaid taxes owed by the ultra-rich, almost 15% more than for other income levels
21 Truths That Prove Republicans Have Been Wrong About Everything
soapboxie.com/us-politics/21-TruthsThat-Prove-Republicans-Have-Been-Wrong-About-Everything
Read more: ronstadt.proboards.com/thread/4324/taxes-trumpublican-budget-tax-plan#ixzz68iaNEuvK