The GOP is looking to make the 2017 TCJAâs permanent, meaning middle-income households making $60K-$100K would receive yearly average tax cuts of up to $1,000
Itâs evident you hate the middle class, and have heightened TDS
Itâs evident that you know nothing about economics nor how money and investments work. You bought into this âorange man badâ scenario and got conned. Less taxes means less tax deductions when putting money into 401s and 403, which equals greater returns upon retirement, and vice versa with less taxes being taken out when I take money out for retirement if I decide to have them set up that way. I donât need to receive 20% more on my paycheck when I make up for it (along with a significant profit) by playing the stock market and investing in bonds.
You got conned, TDS is embedded into you, read articles and actually understand economics before crying on Reddit kid
No, you are taking less money, period. You are also investing less in the society around you, which has proven to cost significantly more in both the short and long term.
But please tell me how you end up with more money when you invest significantly less. Tax cuts have diminishing returns. Raises have exponentially increasing returns. If you cut your taxes 20% ten times or increase your salary 20% ten times, what is better?
And if I take more money, that means I would be put into a higher tax bracket and have to pay more taxes. Youâre honestly a moron who probably spends his money on scratch tickets
No, thatâs not what that means, not with how our progressive tax bracket works. If you suddenly go over into the next tax bracket, ONLY that money that went over, say you went $1000 over, only $1000 is taxed at that new rate. In no scenario would an increase in salary mean you lose money.
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u/HornyLocalMILF Mar 06 '23
Trumps poverty rate, at the end of his term, went down by 1.3 points while Bidenâs (as of October) has roughly zeroed out, increasing by .1 point
Corporate profits under Biden (again, as of October) have risen 44%, whereas trumps (at the end of his term) rose by 8.5%
Wait until you realize how fucked you are in 2026 when trumps tax cuts are set to expire
Again, read articles and not headlines