Backintheday544
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Posts posted by Backintheday544
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This is just crazy how corrupt the DOJ was:
- "People who had been in the office for 40 years never saw anything like that. It was unprecedented and scary."
- "On the eve of Cohen's guilty plea, main Justice tried to get our office to remove any reference to Individual-1, who was President Trump. They were unsuccessful in that venture. And they were unsuccessful in every attempt to politically interfere with our office. We held the line in every instance,"
- "President Trump attacks John Kerry in two tweets saying that Kerry engaged in possible illegal conversations with Iranian officials regarding the Iran nuclear deal. The very next day, the Trump Justice Department refers the John Kerry criminal case to the Southern District of New York. Two tweets by the president and the John Kerry criminal case becomes a priority,"
- "The Justice Department told us, 'Hey, you have just indicted two allies of the president, Chris Collins, who is a Republican congressman from upstate New York, and Michael Cohen, who was the president's lawyer and fixer, and it's time for you guys to even things out and indict a Democrat before the midterm election,'"
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6 hours ago, Chef Jim said:
I’m not talking about total tax receipts. I’m talking individual tax payers. Lower income folks who rent who had no big mortgage deduction now were able to double their deduction. This IS who Billy Boy is concerned about no? How many of the people that make up your disparity were people that lost out on their big mortgage interest and came out behind? I assume quite a lot.
Not a single number supports any of your ideas.But let’s do more math. Last year of the personal exemption it was $4,050 per person. When the standard deduction was $12,700 MFJ. TCJA raised the standard deduction to $24,000.
Thats an increase of $11,300. The average married US family is 4 people. 4 times $4,050 = 16,200.
So a family of 4 lost a $16,200 deduction while getting an increase standard deduction of $11,300. So they LOST $4,900. Assuming a 10 percent effective rate it cost them $490. That increases with each kid they have above 2.
A single person with no kids had the standard deduction go from $6,300 in 2017 to $12,000. Change is $5,700. Lost their personal exemption of $4,050. So they’re getting a $1,650 of addition deductions. At a 10 percent effective tax rate, these provisions of TCJA saved them $165… wow!
But let’s say that single person is a single mom. Now her personal exemptions were $8,050. HOH was $9,350 and TCJA made it $18,000, so a change of $8,650. With the lost of exemptions they got $600 of additional deductions or a tax savings of $60!!!!!! (Assuming a 10 percent effective rate). If she’s a single mom of 2 she lost money.
So taking it instead of at the national level, you can see the tax savings to the individual aren’t what you think they are.
So thank you Republicans for the $60 you gave poor single moms!
Now, let’s look at 1 provision that favored the wealthy. Say you’re a business owner, non-SSTB and net $400,000 but with other deductions taxable income is at $315,000. Being under the QBI thresholds (to make the math easier), they get a deduction equal to the lesser of 20 percent of QBI or taxable income. $315,000 * 20 percent = $63,000 of new deductions.
That puts taxable income now at $262,000. That $63,000 would all be in the 35 percent MFJ bracket, so it saved this guy, $22,050.Math has been had for you but the $22,050 is significantly more than the $60 tax savings the single mom with 1 kid got and a TON more than a single mom with 2 kids who now has to pay more tax got.
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1 hour ago, Chef Jim said:
Even with the elimination of the personal exemption lower income individuals and families came out ahead. So no it’s not a hoax.
Math comprehension:If we look at CBO scoring, doubling the standard deduction cost $887 billion. Eliminating personal exemptions raised $1.4 trillion.
$1.4 trillion is more than $887. This means the elimination of the personal exemptions raises more in taxes than the increased standard deduction saved.
Personal exemptions also had a phase out, so people making over $313k (MFJ) had a limited exemption and once they hit $436k, it was completely phased out.
So high worth individuals weren’t really part of that $1.4 trillion tax increase.
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1 hour ago, Chef Jim said:
Not to mention "poor people" got the biggest tax benefit by the doubling of the standard deduction.
Except they didn’t. Don’t forget personal exemptions were also eliminated.If we look at CBO scoring, doubling the standard deduction cost $887 billion. Eliminating personal exemptions raised $1.4 trillion.
Then looking at things for high wealth individuals:
- AMT changes - cost $884 billion (almost the same as double the standard deduction)
- Doubling estate tax exemption $102 billion
Those 2 alone are well more than the savings for doubling the standard deduction. If factoring in the exemption changes it’s hundreds of billions more.I also didn’t include QBI deduction since it’s not just a high net worth deduction but the cost is primarily skewed toward high net worth people.
CBO Scoring: https://www.crfb.org/blogs/cbo-estimates-tcja-extensions-could-cost-27-trillion
So I think hoax is the correct response here by @BillStime
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1 minute ago, Doc said:
LOL! OK, whatever you want to think.
If someone were to ask me if the speech was divisive, I’d say it was. It also made me like Biden more. I’m sure I’m not the only one in that 60 percent.On the other hand 60 percent of Americans feel MAGA is a threat to democracy. Don’t think a guy who leads MAGA can win an election when 60 percent of the country feel he’s and what he stands for is a threat to democracy.
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9 minutes ago, Doc said:
No chance at the House and probably going to lose the Senate as well. When gas and oil prices hit $8 a gallon right before the election, it's over.
Lol. Highest gas has been in today dollars has been like $5.50 under Bush. There’s a better chance of Dems gaining seats in the house than $8 gas this year.
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16 minutes ago, Chef Jim said:
Billy Boy couldn't so maybe you can. Please define MAGA in your own words so we can have a dialogue as to why you (I assume) feel it's a threat to our democracy.
Any member of the Trump cult that put Trump above the country. Characterized by wearing red MAGA hats. Often times spineless as demonstrated via the gymnastic feats they must obtain to defend Trump. Most commonly spoke phrase is “what about…”No matter how you define them, when Americans were asked if MAGA republicans are bad for democracy… 60 percent!! … said yes they are.
2 minutes ago, Doc said:And in turn turned off 60% of Americans.
No, they said it was divisive. Doesn’t mean it turned them off.
Im all about being divisive when it comes to people who are a threat to democracy.
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35 minutes ago, wnyguy said:
That's the most important? Not the fact that almost 60 % of those polled believe our current Presidents speech enhanced division in this country? The party you back is not trying to unite but instead divide the country. But MAGA (which means Make America Great Again) is the threat? Something ain't right my friend.
So you don’t care about the 60 percent of Americans who think MAGA is a threat to democracy?The President came out at said out loud what 60 percent of Americans feel.
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34 minutes ago, Chef Jim said:
Do we have numbers from before the speech?
You missed this gem…..
Fifty-nine percent of respondents said Biden's speech will further divide the country,
So? The important part is most Americans believe MAGA is a threat to democracy.-
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Majority of Americans view MAGA as a threat to democracy:
Fifty-eight percent of respondents in the two-day poll - including one in four Republicans - said Trump's "Make America Great Again" movement is threatening America's democratic foundations.
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1 hour ago, ArdmoreRyno said:
Dude, chill out. I never said anything about "pre" or "post" Dobbs. You are assuming abortion is the NUMBER ONE ISSUE in the election coming up. It's not.
And my post last week was 100% what I said in my reply before. Those were the projections posted by Politico. Not me. They project a 226-209 seat advantage in the House. When I posted that, it had a slight edge to the GOP in the Senate.
https://www.politico.com/2022-election/race-forecasts-ratings-and-predictions/
Great, I’m glad we clarified your issue is easing comprehension. “Weird, because the GOP is predicted (by every news outlet) to win both the House and Senate. State gov. are projected to be around 50-50.”Politico isn’t every news outlet.I am not assuming abortion is the number 1 issue for the election. However, I will assume that the trove of women registering to vote post Dobbs, it is the #1 issue. We’ve seen these increase women voters already contribute to disallowing an abortion referendum in red Kansas by a vote of 55-45.
In addition, while abortion may not be an issue for Republicans, there are two issues you overlook. 1) abortion is a major issue for Dems and it’s something that has already been shown to drive out the vote and increase voter registration. 2) for some Republicans abortion has been a get out to vote issue. With Dobbs, those Republicans would be less likely to vote.
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53 minutes ago, ArdmoreRyno said:
I didn't miss anything. Last Thursday when I posted my reply, the numbers were as what I said. Those will change, like they did.
Some people forget, over 1,000,000 democrats switched parties the past year due to the handling of covid by blue states. That is still something people haven't forgot... businesses closing down due to moronic policies by states like California.
The numbers were not that a week ago. Mitch came out in mid- August and conceded the Senate is probably lost. 538 had the swing for Dems in the Senate around mid-July.You point out the 1,000,000 person switch. That was pre-Dobbs and neglects the crazy upsurge in women registering to vote (we’ve seen this have an impact on Kansas where women voter registration increased 70 percent and then soundly defeated a referendum on abortion). It also neglects the 630,000 Republicans who switch to Dems in the same period.
If you honestly thought as of last Thursday the Republicans were definitely or had a very good chance of winning the senate you’re either out of touch with the news or have reading comprehension issues.
As a recent test, we saw the Republicans lose a special election in Alaska where they held the seat since 1982!!!
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3 hours ago, BillStime said:
Ouch
You missed the important parts!“A New Mexico judge ordered Otero County Commissioner Couy Griffin be removed from office, effective immediately, ruling that the attack on the Capitol was an insurrection and that Griffin’s participation in it disqualified him under Section 3 of the 14th Amendment. This decision marks the first time since 1869 that a court has disqualified a public official under Section 3, and the first time that any court has ruled the events of January 6, 2021 an insurrection.”
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4 hours ago, Chef Jim said:
Here is the thing that really pisses me off about this forgiveness. Those that put in place forgiveness plans that were already offered such as Income Based Repayment will have their loan forgiveness taxed whereas these will not be. And some of these plans? The tax hit could be huge seeing they only pay based on their income. Almost all of those don't cover P&I so the balance grows and I've seen some plans where the forgiven/taxable portion could be a few hundred thousand dollars. Those people just got the ***** shaft.
Those plans are not taxable Federally through 2026 as part of the recent bill that makes this not taxed.Those amounts under the 20 year IBR rules always had the taxable income as an issue. It’s generally been assumed Congress would pass something once the first people would be affected (and they did through 2026). The PSFL never had the tax issue.
The people who have hundreds and thousands of negative amortization due to IBR will most likely not pay tax on all of that as the portion where they are insolvent is not taxed.
The plan Biden released fixes the negative amortization issue going forward but would be nice to see it retroactively fixed.
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On 9/1/2022 at 2:08 PM, ArdmoreRyno said:
Weird, because the GOP is predicted (by every news outlet) to win both the House and Senate. State gov. are projected to be around 50-50.
I feel like you missed some stuff.https://projects.fivethirtyeight.com/2022-election-forecast/senate/
538 now had the Dems as a 69 out of 100 chance of winning the Senate.
Mitch came out and acknowledge they probably won’t win the Senate:
Politico has Senate as a toss up and House only as likely Republican:
https://www.politico.com/2022-election/race-forecasts-ratings-and-predictions/
PredictIt has Rep House and Dem Senate as a pretty big favorite: https://www.predictit.org/markets/detail/7172/What-will-be-the-balance-of-power-in-Congress-after-the-2022-election
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3 hours ago, aristocrat said:
what about equality?
Let me fix this for you:Former NYPD officer was found guilty by a jury for attacking a cop with a flag pole.
Two lawyers, accepted responsibility for their action and entered a guilty plea for throwing a Molotov cocktail into an empty police car.
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2 hours ago, Doc said:
Your party won the election. But as a result, we're all losing. Hence the reason Joke's approval ratings are in the toilet and they're pulling every stunt they can to avoid the shellacking that's coming in 2 months. And again, all without fake scandals. Congrats!
Context for everyone on the board, Biden is more than 2 points higher than Trump was in approval ratings at the same time:-
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15 minutes ago, Doc said:
Within the MOE and thanks to his own policies. Not fake scandals.
Sounds like not taking personal responsibility. Excuses excuses excuses. Very Republican MAGA of you.-
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6 minutes ago, Irv said:
Let’s see about that in November buddy.
Trumps were historically bad for midterms: -
4 minutes ago, Irv said:
What other ***** are you guys going to make up? Yes. Half the country would support authoritarian rule and a master race? If you believe that you’re on crack with Hunter. You really think that little of your fellow Americans? If Demented Biden quit lecturing and talking down to everyone maybe he wouldn’t have such dismal approval ratings despite all his failed policies. What a mess.
His approval ratings are higher than Trump at the same time: -
38 minutes ago, T master said:
Okay you Tibs & BT go do your daily hang & give praise to all things Joe - just by you saying that you can borrow money & add to the debt/deficit to pay it down tells me all i need to know .
Add nearly $1 trillion by the time it's all said & done to the debt & it pays down the deficit $100 billion by putting $73 billion into the grid & $7.5 billion into EV charging then add the compounded interest daily to the some $30 trillion already owed yep that Joe/US economics 1 0 1 ... What school did you learn your economics from ?
Let's compare your economics to mine - my house is paid for - i own all of my vehicles - i have a good chunk of money set back just in case of emergency - glory to god for it all 🙌 . Your turn .
Oh & by the way the pick up truck reference in my past reply was to tell you exactly what you said but in your imminent wisdom you said exactly what i meant .
If you can't afford it because of the cost of the batteries have increased by 144% in one year you have to keep your gas powered car which then you have to pay inflated gas prices (and the taxes added to that to pay for the inflation reduction act) because they aren't selling as much so have to increase the price to make it worth wild to produce it still or if your car is old & you need a new one & can't buy a gas powered car your screwed & have to pay the higher priced electric car so thanks for the constitutional reference proving my point .
As Journey said in it famous song "Don't stop Believing - hold on to that feeling" and it will all get better soon .
I think the difference between say me and @Tiberius and you is we understand concepts like economics, politics and general reading comprehension.If you read the CBO scoring of the I clarion Reduction Act, revenues from the laws in the act, exceed spending. When that occurs, the deficit decreases.
Comparing a household to a Federal govt is dumb but to use your example, say you just got $100 raise. Part of the raise requires you to spend $30 on new equipment. So you still have a $70 raise. Here, the govt is spending money but their raise is bigger than they’re spending.
If we look at basic Econ, when demand for a good decreases, the price decreases. Absent all the other factors that affect gas, if more people have electric cars, demand for gas will decrease, which would decrease price.
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36 minutes ago, T master said:
With all the talk that Biden has had on this subject you don't think he is behind it common man your not that big of a fool are you ?
The Inflation Reduction Act is about as useful as the the "Affordable Health care act" which was in no way affordable i say that because before it's inception i was shopping insurance which was going to be $280 a month immediately after the "Affordable Health care act" was put into law it went to $600 a month !
This Inflation Reduction Act will cause more inflation not less you can't borrow money & expect it to bring down the deficit & as deep as the US is in debt borrowing more money is not the cure it is the reason why we have the highest inflation in history right now .
And China will be a part of anything the US builds they are so deep into us now they basically run this country & we just keep going along with it because the business owners have moved all our manufacturing there if you don;t believe it look back at the pandemic when we had to wait to get things from them & the supply chain disruption that is still happening today .
The inflation reduction act has been scored by CBO to reduce the deficit by over $100 billion:https://www.cbo.gov/publication/58366
The rest of your comments are just indescribable nonsense.
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43 minutes ago, T master said:
Okay so by putting gas powered cars out of business and the rising costs of in just 2 years of making batteries being 144% then seeing as the US is already in some $33 trillion of debt how much more will this little change to completely rebuild the infrastructure to add all this added grid to suffice these cars ?
Then for those that can't afford to pay some $76000 to $90000 dollars for say a pick up truck or instead of paying say $20000 for a kia they have to pay $40000 but can't afford it & the cost of gas you can bet will more than likely quadruple by that time too .
Look at what i reply'd earlier the contradiction of battery operated vehicles this man knows more & has done more research than you & your entire family & the US gov't combined this will in no way be a easy or cheap conversion they have already spent so much inflation is going crazy OH wait that's trumps fault i forgot .
Biden has put no effort into research it's just charge ahead & be damned about the rest if they would even in the slightest way consider say doing this 1 city at a time like LA then collecting the data taking it & making improvements on the plan but it's bull in the china shop forge ahead & buy everything they need from China while they are at it .
If it's completely broke then fix it but if it's in need of repair don't just throw it all out the window on a whim ! I remember back in the 70's 2 guys rebuilt a carburetor on a Mercury capri with a 302 in it then drove it from NYC to Miami & the cat got 50 MPG in the 70's but you never heard of it again .
So tell me there isn't something pretty dam shady going on & of you don't think so your a fool then there are a bunch of other things these people have been playing with that has helped their cause .
https://www.youtube.com/watch?v=rf78rEAJvhY&t=1402s
If they would bring it all to light and be truthful then i might believe some of what they say but if their mouth is moving they are probably lying & after they are long gone will profit from it !!
As far as the EU putting this law in place so we went from being leaders to followers now monkey see monkey do ! The EU had a brilliant plan of 1 money so that means we should do it too Britain was smart enough to get out because they saw the writing on the wall !!
Have you researched any of this? Your first post was full of factual errors and so is this.1. The bi-partisan infrastructure bill puts $73 billion into the electrical grid and another $7.5 billion into EV charging infrastructure as well. This is spending agreed upon by both parties.
2. There’s no right to a pickup truck in the Constitution. If you can’t afford a pick up truck, you don’t buy one. Plus the Inflation Reduction Act allowed for tax credits to help reduce the cost.
3. The Inflation Reduction Act takes away credits and provides incentives for batteries not made in China and cars assembled on North America.
4. Biden isn’t charging ahead on this. This is a CA policy that follows an EU policy that was negotiated with car companies.
5. Britain who you point out has banned the sales of gas car by 2030, 5 years earlier than the EU and CA: https://www.forbes.com/sites/davidrvetter/2020/11/18/britain-will-ban-gasoline-cars-in-2030-why-are-experts-not-impressed/?sh=690910ef36e4
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1 hour ago, OrangeBills said:
You are (historically properly) adhering to concepts and rules of law
I think it's quite clear, those no longer matter anymore in the Leftist Era
so your point is in the leftist era, the laws don’t matter and the leftists are going to allow someone without standing to sue to overturn the Secretary of Educations ability to forgive debt under the HEROS Act?
What a Mess!
in Politics, Polls, and Pundits
Posted
Biden is sitting at 42.4 on average. At the same point Trump was at 40.2… so looks like you were confusing Trump and Biden.
https://projects.fivethirtyeight.com/biden-approval-rating/
The right leaning Rasmussen just had Biden at 44 percent approval.