🌎 Discussion: Taxes and Taxation

[DJ Kornphlake]

 

[squeekness]

My state wins again!

 

[blueharvest]

Trump eyes even more tax breaks for the wealthy, big corporations

Among the many problems with Donald Trump's plan to cut taxes for the wealthy and big corporations: These tax breaks are wildly unpopular with voters.

www.msnbc.com

 

[Lily Adler]

 

[squeekness]

Oh, boo hoo! I dont have much sympathy.

 

[blueharvest]

IRS update offers boost to millions of taxpayers

The agency has agreed to extend its no-cost Free File private-sector tax software program through October 2029.

www.newsweek.com

 

[blueharvest]

 

[DJ Kornphlake]

 

[blueharvest]

'We Should All Be Angry' That Corporations Spent Trump Tax Windfall on Buybacks: Expert | Common Dreams

"Corporations took their tax windfalls and spent a trillion dollars of it in 2018 on stock buybacks instead of on worker wages or innovation," said Sarah Anderson of the Institute for Policy Studies.

www.commondreams.org

 

[blueharvest]

Trump's $48 Billion Tax Cut for Big Corporations Would Exceed Size of K-12 Budget | Common Dreams

The 100 largest U.S. corporations would receive an annual tax cut of $48 billion under the GOP frontrunner's plan, according to a new analysis.

www.commondreams.org

 

[squeekness]

'We Should All Be Angry' That Corporations Spent Trump Tax Windfall on Buybacks: Expert | Common Dreams

"Corporations took their tax windfalls and spent a trillion dollars of it in 2018 on stock buybacks instead of on worker wages or innovation," said Sarah Anderson of the Institute for Policy Studies.

www.commondreams.org

Trickle down doesn't work

 

[squeekness]

Trump's $48 Billion Tax Cut for Big Corporations Would Exceed Size of K-12 Budget | Common Dreams

The 100 largest U.S. corporations would receive an annual tax cut of $48 billion under the GOP frontrunner's plan, according to a new analysis.

www.commondreams.org

But what about the deficit?

 

[blueharvest]

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich

Experts warn that an “all tariff policy” would only benefit the wealthiest Americans

www.salon.com

 

[squeekness]

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich

Experts warn that an “all tariff policy” would only benefit the wealthiest Americans

www.salon.com

Well, the wealthy are he cares about, really.

 

[blueharvest]

Replacing Taxes With Tariffs Would Take Us Back to the 1800s

Trump a populist? Populism came about to lower tariffs!

newrepublic.com

 

[blueharvest]

IRS Expects $50 Billion Return by Closing Loophole Exploited by the Super Rich | Common Dreams

"Thanks to President Biden and Democrats in Congress, a well-funded IRS is closing a loophole to make the rich pay their taxes," said Sen. Elizabeth Warren.

www.commondreams.org

 

[squeekness]

IRS Expects $50 Billion Return by Closing Loophole Exploited by the Super Rich | Common Dreams

"Thanks to President Biden and Democrats in Congress, a well-funded IRS is closing a loophole to make the rich pay their taxes," said Sen. Elizabeth Warren.

www.commondreams.org

Works for me!

 

[blueharvest]

Biden ramps up push to end Trump's tax cuts for the wealthy, highlighting the choice in the 2024 election

Biden says that if he is re-elected, he would let the Trump tax cuts expire next year for people who earn over $400,000. Trump and Republicans say they want to extend them.

www.nbcnews.com

 

[MagnarTheGreat]

Supreme Court decision saves Trump-era tax change, dodges big loss in federal tax revenue

A major change in tax laws signed by Trump in 2017 had a one-time tax on foreign earnings for some investors.

www.usatoday.com

 

[squeekness]

Biden ramps up push to end Trump's tax cuts for the wealthy, highlighting the choice in the 2024 election

Biden says that if he is re-elected, he would let the Trump tax cuts expire next year for people who earn over $400,000. Trump and Republicans say they want to extend them.

www.nbcnews.com

I hope they are allowed to expire. The deficit is much too high.

 

[blueharvest]

I hope they are allowed to expire. The deficit is much too high.

Hopefully they will. Unless Trump gets back into the White House.

 

[squeekness]

Hopefully they will. Unless Trump gets back into the White House.

Between these cuts and the tariffs he wants to impose he's going to crash the government and the economy.

 

[DJ Kornphlake]

 

[squeekness]

95% does sound a bit excessive.....

 

[DA_Champion]

Biden ramps up push to end Trump's tax cuts for the wealthy, highlighting the choice in the 2024 election

Biden says that if he is re-elected, he would let the Trump tax cuts expire next year for people who earn over $400,000. Trump and Republicans say they want to extend them.

www.nbcnews.com

There's nothing good or bad about letting the Trump tax cuts expire, they just need more details about what they'll replace them with.

Some parts of the tax reform, such as getting rid of SALT, the state and local tax exemption that was a giveaway to the wealthy.

Some parts were bad, like the lower rates on high incomes.