Current Events > Joe Biden with FIRST MAJOR TAX HIKE in 30 years

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Bestoffuture
03/15/21 8:43:23 AM
#1:


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Mecha Sonic
03/15/21 8:44:12 AM
#2:


good

raise my taxes

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#3
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Jagr_68
03/15/21 8:46:05 AM
#4:


The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making over $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital-gains tax rate for individuals making at least $1 million.

Absolutely none of these apply to me because they're essentially upper class to wealth-based taxes but sure let's play the stupid MUH TAXES game.

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#5
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littlebro07
03/15/21 8:48:20 AM
#6:


Jagr_68 posted...
The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making over $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital-gains tax rate for individuals making at least $1 million.

yeah this doesnt apply to me and likely never will so idgaf


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monkmith
03/15/21 8:49:08 AM
#7:


oh dear god! if we tax the rich then the world will end!?!

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Balrog0
03/15/21 8:49:19 AM
#8:


Good

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LightHawKnight
03/15/21 8:49:30 AM
#9:


Ah the rich people complaining about getting taxed more.

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Machete
03/15/21 8:50:19 AM
#10:


16-BITTER posted...
Fair next

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Tyranthraxus
03/15/21 8:52:35 AM
#11:




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NatsuSama
03/15/21 8:52:43 AM
#12:


littlebro07 posted...
yeah this doesnt apply to me and likely never will so idgaf
It doesn't apply to 99% of this board

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Flauros
03/15/21 8:55:26 AM
#13:


im sure the rich business owners will pass the savings onto people below them

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Frolex
03/15/21 9:17:17 AM
#14:


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#15
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Pitlord_Special
03/15/21 9:19:54 AM
#16:


Republican Party in shambles rn. Their entire existence is predicated on lowering taxes for the rich and this would be a massive step back for them. Expect donations to rise steeply as their imperative for seizing power has just been elevated.

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Solar_Crimson
03/15/21 9:20:12 AM
#17:


Oh, those poor rich people.

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NeonOctopus
03/15/21 9:21:26 AM
#18:


Reading it, it looks like it's just corporations and rich people so whatever >_>

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g980
03/15/21 9:24:49 AM
#19:


Those sound fine
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harley2280
03/15/21 9:25:43 AM
#20:


I can't wait for the people below the federal poverty level to start complaining about how Democrats raised their taxes.
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CyricZ
03/15/21 9:27:54 AM
#21:


The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making over $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital-gains tax rate for individuals making at least $1 million.
Everything about this sounds fantastic.

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Stewman_Magoo
03/15/21 9:28:44 AM
#22:


Oh no! Billionaires will now be making several billion dollars instead of several billion dollars! :(

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g980
03/15/21 9:30:07 AM
#23:


what % of this topic is people complaining about people complaining about this even tho no one is complaining
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RiKuToTheMiGhtY
03/15/21 9:30:30 AM
#24:


Well if they tax the rich to much they will leave and go to another country.

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Squall28
03/15/21 9:32:04 AM
#25:


The market surprisingly isn't down from this news. Good.

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Turbam
03/15/21 9:32:51 AM
#26:


Say it ain't so, Joe!

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Doom_Art
03/15/21 9:34:23 AM
#27:


love it

Only downside is it doesn't go far enough

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harley2280
03/15/21 9:34:52 AM
#28:


RiKuToTheMiGhtY posted...
Well if they tax the rich to much they will leave and go to another country.

Which will create a hole in the market that someone will fill if there's a demand for the service/product. Welcome to Capitalism.
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Garioshi
03/15/21 9:35:30 AM
#29:


Yeah, fuck the Trump tax cuts.

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Tyranthraxus
03/15/21 9:35:40 AM
#30:


RiKuToTheMiGhtY posted...
Well if they tax the rich to much they will leave and go to another country.
Lmfao where the fuck are they going to go? There's no place on earth that will treat them better than the USA

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WingsOfGood
03/15/21 9:41:51 AM
#31:


-l___________l- posted...
I'm sure eventually they'll get raised for everyone though.

Better not.
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harley2280
03/15/21 9:44:01 AM
#32:


RiKuToTheMiGhtY posted...
Well if they tax the rich to much they will leave and go to another country.

Also this is a great example of stockholm syndrome.
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Funkydog
03/15/21 9:48:32 AM
#33:


Those poor billionaires might only be able to afford a fifth home this year.

Lets riot.

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Goldice
03/15/21 9:54:13 AM
#34:


Holy crap. Increasing revenue to offset spending? That's terrible. Obviously you cut revenue while spending more. That's just plain fiscal conservatism.
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Musourenka
03/15/21 9:56:30 AM
#35:


Sounds good!

I approve.

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pikachupwnage
03/15/21 9:57:38 AM
#36:


Remove the cap on social security tax too.


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WingsOfGood
03/15/21 9:57:40 AM
#37:


RiKuToTheMiGhtY posted...
Well if they tax the rich to much they will leave and go to another country.

And?

Only reason to care that they live here is to collect tax.
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AtelierRyza3462
03/15/21 10:00:06 AM
#38:


NeonOctopus posted...
Reading it, it looks like it's just corporations and rich people so whatever >_>

It's gonna affect jobs
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Goldice
03/15/21 10:00:48 AM
#39:


RiKuToTheMiGhtY posted...
Well if they tax the rich to much they will leave and go to another country.

That's actually highly unlikely. Some might, but many won't.

There's more to living in places than taxes. There's a reason why rich people don't all move to Mississippi.
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WingsOfGood
03/15/21 10:01:57 AM
#40:


AtelierRyza3462 posted...
It's gonna affect jobs

Then raise min wage.

Boom.
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Balrog0
03/15/21 10:01:59 AM
#41:


Goldice posted...
That's actually highly unlikely. Some might, but many won't.

There's more to living in places than taxes. There's a reason why rich people don't all move to Mississippi.

That's partially because poor states like mississippi have high tax rates

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Machete
03/15/21 10:02:23 AM
#42:


AtelierRyza3462 posted...


It's gonna affect jobs


Explain
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harley2280
03/15/21 10:03:22 AM
#43:


Machete posted...
AtelierRyza3462 posted...


It's gonna affect jobs


Explain

He's implying that companies will start cutting jobs to make up the loss in profit.
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#45
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#46
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Dakimakura
03/15/21 10:06:12 AM
#47:


The numbers are too low on the taxed brackets IMO. The billionaires will find a way to skirt it and the people who will end up paying this are the newly entering wealthy people who have lacking ability to avoid such taxes. Basically discouraging those to strive to better their lives/career so they don't hit the 400,000 mark. I mean even think about black professional athletes that came from poverty. They are going to get robbed.

The sole focus right now should be on ensuring that the richest people in America pay their fair share. If there was fair taxation on the richest billionaires, then all the other tax would be negligible in comparison.

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Balrog0
03/15/21 10:06:50 AM
#48:


Dakimakura posted...
The numbers are too low on the taxed brackets IMO. The billionaires will find a way to skirt it and the people who will end up paying this are the newly entering wealthy people who have lacking ability to avoid such taxes. Basically discouraging those to strive to better their lives/career so they don't hit the 400,000 mark. I mean even think about black professional athletes that came from poverty. They are going to get robbed.

The sole focus right now should be on ensuring that the richest people in America pay their fair share. If there was fair taxation on the richest billionaires, then all the other tax would be negligible in comparison.

This is absurd

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LightHawKnight
03/15/21 10:06:59 AM
#49:


Dakimakura posted...
The numbers are too low on the taxed brackets IMO. The billionaires will find a way to skirt it and the people who will end up paying this are the newly entering wealthy people who have lacking ability to avoid such taxes. Basically discouraging those to strive to better their lives/career so they don't hit the 400,000 mark. I mean even think about black professional athletes that came from poverty. They are going to get robbed.

The sole focus right now should be on ensuring that the richest people in America pay their fair share. If there was fair taxation on the richest billionaires, then all the other tax would be negligible in comparison.

Yeah they should close those loop holes the rich use to dodge taxes.

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Goldice
03/15/21 10:07:03 AM
#50:


Balrog0 posted...


That's partially because poor states like mississippi have high tax rates

Bah I picked a terrible state off the top of my head then. That's on me
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Goldice
03/15/21 10:07:24 AM
#51:


Dakimakura posted...
Basically discouraging those to strive to better their lives/career so they don't hit the 400,000 mark. I mean even think about black professional athletes that came from poverty. They are going to get robbed.

Literally no one does that.
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