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2 hours ago, SoCal Deek said:

Trump cut the uppermost tax rate from 37.5% back down to 35%. The same rate it was when Obama entered office. Huge tax cut? Hardly! 


I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?

 

Now, I do laugh that you chose not to share the Corporate tax decrease under Trump - why?

 

 

 

 

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1 minute ago, BillStime said:


I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?

 

Now, I do laugh that you chose not to share the Corporate tax decrease under Trump - why?

 

 

 

 

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 

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3 hours ago, BillStime said:


Here you go:

 

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm

 

When does inflation start the current upward trajectory? Here I’ll help you out:


image.thumb.jpeg.534095bb8c6b3d0ac5b09c1142d4abda.jpeg

 


Thank you. It started pretty much the day Biden was sworn in. 🙄 

 

Admit it. Whether you blame Biden or not that upward trajectory looks pretty bad on HIS watch.  

2 hours ago, SoCal Deek said:

As I’m actually in the bracket, it’s personal to me! This tax cut for the rich bull is utter nonsense.


And you didn’t even mention SALT 

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3 minutes ago, SoCal Deek said:

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 


Ok you mentioned it here. 

9 minutes ago, BillStime said:


I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?


 

Question Billy Boy. If the economy under Obama was HIS economy do you label this dumpster fire JOE’S economy?  🤔

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5 minutes ago, Chef Jim said:


Thank you. It started pretty much the day Biden was sworn in. 🙄 

 

Admit it. Whether you blame Biden or not that upward trajectory looks pretty bad on HIS watch.  

 

 

So, Trump can take credit for Obama's economy... and Biden can't blame Trump for what he did to our treasury and economy.  Got it.

 

And yes, inflation started to increase in 2020 on TRUMP's watch.

 

You can't pick and choose facts.

 

 

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Just now, BillStime said:

 

So, Trump can take credit for Obama's economy... and Biden can't blame Trump for what he did to our treasury and economy.  Got it.

 

And yes, inflation started to increase in 2020 on TRUMP's watch.

 

You can't pick and choose facts.

 

 


I’ll ask again seeing you gave it an olé

 

If it was Obama’s economy then is this Biden’s economy now. And Billy try to answer without interjecting Trump ok?

 

 

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8 minutes ago, SoCal Deek said:

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

Nope - you're wrong.

 

In 2013, Obama allowed previous tax cuts for the wealthy to expire. In doing so, he allowed the top income tax rate to rise from 35 percent to 39.6 percent.

Study: Obama tax hikes on rich didn’t hurt economy, or rich

 

The increased taxes, which took effect in 2013, included a new surtax of 3.8 percent on income from investments for the very wealthy that helped to pay for Obama's Affordable Care Act. Also, the president and Congress allowed tax relief enacted by President Bush to expire for the wealthiest households, resulting in an increase in the tax on capital gains from 15 percent to 20 percent and an increase in the top marginal rate on ordinary income from 35 percent to 39.6 percent.

The very interesting thing that happened when Obama raised rich people’s taxes

 

PS: See why you hate the Affordable Care Act?  

 

11 minutes ago, SoCal Deek said:

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 

 

Oh, trickle down economics?

 

LOLZ

 

Are you serious?

 

 

jfc

 

Trump’s Corporate Tax Cut Is Not Trickling Down:

  • The promised boom in business investment never happened  
  • The most recent data show that private nonresidential investment actually declined in the second quarter of 2019
  • Instead of substantially increasing investment, the windfall businesses received largely went to paying off wealthy investors. One analysis of Fortune 500 companies found that just 20 percent of increased cashflow in 2018 was spent on increasing capital expenditures or research and development. The remaining 80 percent of cashflow went to investors through buybacks, dividends, or other asset planning adjustments. The vast majority of corporate stocks are held by the wealthy, including foreign investors, and thus they are the ultimate beneficiaries of the windfall corporate tax cuts.

 

 

 

 

 

 

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1 minute ago, BillStime said:

 

Nope - you're wrong.

 

In 2013, Obama allowed previous tax cuts for the wealthy to expire. In doing so, he allowed the top income tax rate to rise from 35 percent to 39.6 percent.

Study: Obama tax hikes on rich didn’t hurt economy, or rich

 

The increased taxes, which took effect in 2013, included a new surtax of 3.8 percent on income from investments for the very wealthy that helped to pay for Obama's Affordable Care Act. Also, the president and Congress allowed tax relief enacted by President Bush to expire for the wealthiest households, resulting in an increase in the tax on capital gains from 15 percent to 20 percent and an increase in the top marginal rate on ordinary income from 35 percent to 39.6 percent.

The very interesting thing that happened when Obama raised rich people’s taxes

 

PS: See why you hate the Affordable Care Act?  

 

 

Oh, trickle down economics?

 

LOLZ

 

Are you serious?

 

 

jfc

 

Trump’s Corporate Tax Cut Is Not Trickling Down:

  • The promised boom in business investment never happened  
  • The most recent data show that private nonresidential investment actually declined in the second quarter of 2019
  • Instead of substantially increasing investment, the windfall businesses received largely went to paying off wealthy investors. One analysis of Fortune 500 companies found that just 20 percent of increased cashflow in 2018 was spent on increasing capital expenditures or research and development. The remaining 80 percent of cashflow went to investors through buybacks, dividends, or other asset planning adjustments. The vast majority of corporate stocks are held by the wealthy, including foreign investors, and thus they are the ultimate beneficiaries of the windfall corporate tax cuts.

 

 

 

 

 

 

At the time, Obama explained to the American people, that he needed those increased tax rates to help out during the Great Recession.  With the Great Recession officially over, Trump simply put the rate back where it was. Nothing to see here. Carry on.

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6 minutes ago, Chef Jim said:


I’ll ask again seeing you gave it an olé

 

If it was Obama’s economy then is this Biden’s economy now. And Billy try to answer without interjecting Trump ok?

 

 

 

JFC - Economics doesn't happen in a vacuum. 

1 minute ago, SoCal Deek said:

At the time, Obama explained to the American people, that he needed those increased tax rates to help out during the Great Recession.  With the Great Recession officially over, Trump simply put the rate back where it was. Nothing to see here. Carry on.

 

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19 minutes ago, BillStime said:

 

JFC - Economics doesn't happen in a vacuum. 

 

 

 

Vacuum schmacuum.  I'm just using your words and throwing them back at you. Soooo here we go again.

 

If the economy was Obama's under him is this economy Joe's?  It's a simple question.   Even a "I misspoke when I called it HIS economy when I talked about Obama" would suffice.  

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Just now, Chef Jim said:

 

Vacuum schmacuum.  I'm just using your words and throwing them back at you. Soooo here we go again.

 

If the economy was Obama's under him is this economy Joe's?  It's a simple question.   Even a "I misspoke when I called it HIS economy when I talked about Obama" would suffice.  

 

Sure, we can play this game.  We will just have to revisit "Joe's economy" in 845 days.

 

Meanwhile - in Trump's four years:

 

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1*za2i_A1jV_Mb6Bwknzregg.png

 

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Just now, BillStime said:

 

Sure, we can play this game.  We will just have to revisit "Joe's economy" in 845 days.

 

Meanwhile - in Trump's four years:

 

1*xKEdSZOethNtdKLUu89tEw.jpeg

1*za2i_A1jV_Mb6Bwknzregg.png

 

 

And there it is....TRUMP TRUMP TRUMP TRUMP TRUMP.  

 

Our conversation had NOTHING to do with Trump.  Why did you bring him up?  It's almost like an addiction for you.  You can't help yourself can you?  

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4 minutes ago, Chef Jim said:

 

And there it is....TRUMP TRUMP TRUMP TRUMP TRUMP.  

 

Our conversation had NOTHING to do with Trump.  Why did you bring him up?  It's almost like an addiction for you.  You can't help yourself can you?  

 

Because you're easy, Jim.  It's a fact that you can't win.

 

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2 hours ago, SoCal Deek said:

The price of gas jumped by over 15% in just ONE WEEK at my local corner gas station. Is everyone else seeing the same thing? 


Again I’m hearing it’s just us lucky ones.  Something about refinery maintenance. 😏

3 hours ago, BillStime said:


Well Jim - this is the inflation thread - it’s too bad you can’t handle the role Trump played on… inflation! 


 


Oh I can handle it. No worries. Just one question chief. What was his role in it?  
 

And this is weird. A little birdie told me it’s was Putin’s inflation. Need to keep my stories straight. 🤷🏻‍♂️

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13 hours ago, SoCal Deek said:

The price of gas jumped by over 15% in just ONE WEEK at my local corner gas station. Is everyone else seeing the same thing? 

 

Dems can't see anything with their heads so far up their asses.

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