​ 🇺🇸 🇺🇸 President Biden, A Good American President! ​ 🇺🇸 🇺🇸

[BillStime]

Just now, Chef Jim said:

 

Ok let's go to the scoreboard.

 

1.  Red hats are a threat to our democracy.  Check

2. Middle fingers are a threat to our democracy.  Check check. 

 

I now see where you guys are coming from.  This is some scary *****.  

 

Hey, everyone is waiting for your sugarcoated definition o f MAGA - lolz

[SoCal Deek]

9 minutes ago, BillStime said:

 

Yep - that's me. Defending our democracy, a women's right to choose; pennies for the poor instead of tax cuts for the rich; a society not overrun by guns etc etc etc...

 

Can you feel the MAGA love?  gtfoh

 

 

How does a rich person's tax rate impact a poor person? Were they bidding on the same yacht? 

[Chef Jim]

2 minutes ago, SoCal Deek said:

How does a rich person's tax rate impact a poor person? Were they bidding on the same yacht? 

 

Not to mention "poor people" got the biggest tax benefit by the doubling of the standard deduction.   

[KDIGGZ]

List of Joe's accomplishments:

1. Not Trump

 

Can anyone really come up with anything else to support this man? The only thing I've heard is "yea well Trump did this..."

[Doc]

8 minutes ago, KDIGGZ said:

List of Joe's accomplishments:

1. Not Trump

 

Can anyone really come up with anything else to support this man? The only thing I've heard is "yea well Trump did this..."

 

That's not an accomplishment.  And after that embarrassment of a speech last week...

[BillStime]

35 minutes ago, Chef Jim said:

 

Not to mention "poor people" got the biggest tax benefit by the doubling of the standard deduction.   

 

HOAX

 

[Chef Jim]

8 minutes ago, BillStime said:

 

HOAX

 

 

Jesus Christ.  You have never had an original thought in your life have you.

 

Explain why this is a Hoax.  

[BillStime]

2 minutes ago, Chef Jim said:

 

Jesus Christ.  You have never had an original thought in your life have you.

 

 

HOAX

[Chef Jim]

Just now, BillStime said:

 

HOAX

 

Ok it's time to play grownup.  What makes it a hoax? 

[KDIGGZ]

18 minutes ago, Doc said:

 

That's not an accomplishment.  And after that embarrassment of a speech last week...

Right but that's all the Dems can hang their hat on...it's not Trump. Even their polls show they don't want him to run again 

 

What I hear from relatives:

1. "anyone is better than Trump"

2. "I'll gladly pay $4 a gallon to not have Trump"

3. "Trump should be in jail"

4. "I can't retire this year because global economy, Russia etc, president doesn't control the stock market not his fault"

 

As long as it's not Trump they will let the world burn apparently. Sounds like a winning strategy 

[Doc]

4 minutes ago, KDIGGZ said:

Right but that's all the Dems can hang their hat on...it's not Trump. Even their polls show they don't want him to run again 

 

Yeah, he broke them mentally.  A guy who preached "Make America Great Again" and they thought he was a Russian spy because there was no other way he could have beaten Hilly.

 

But they'll do the same to anyone who comes after him.  They're doing it to DeSantis.  Wash, rinse, repeat.

[BillStime]

15 minutes ago, Chef Jim said:

 

Ok it's time to play grownup.  What makes it a hoax? 

 

Wait, you want answers but block me when you don't want to answer my questions?

 

Grow up Jim

[All_Pro_Bills]

12 minutes ago, Doc said:

 

Yeah, he broke them mentally.  A guy who preached "Make America Great Again" and they thought he was a Russian spy because there was no other way he could have beaten Hilly.

 

But they'll do the same to anyone who comes after him.  They're doing it to DeSantis.  Wash, rinse, repeat.

The establishment supports establishment candidates.  People loyal to global corporate and powerful interests while paying lip service to the needs of Americans. The idea any President could put the needs of American's first, ahead of the interests of the Global Empire and the elite benefiting from that arrangement is unacceptable.  Trump is an outsider. It didn't matter if he was a Republican outsider or a Democrat outsider.  If the Democrats would have nominated Tulsi Gabbard or Bernie Sanders they would have gotten the exact same outsider treatment as Trump.  The establishment was so scared of a Sanders nomination they dug up ole Joe Biden and positioned him as a moderate insider that would unify the country.  What a joke and illusion.  This is how the political system operates.  

While the elite thank the useful idiots supporting all their efforts to maintain control and demonize Trump and anyone challenging or questioning their priorities, they should know that none of them are in their long-term plans.  At some point soon they'll be cut loose to fend for themselves.  

[BillStime]

15 hours ago, Doc said:

 

Yeah, he broke them mentally.  A guy who preached "Make America Great Again" and they thought he was a Russian spy because there was no other way he could have beaten Hilly.

 

But they'll do the same to anyone who comes after him.  They're doing it to DeSantis.  Wash, rinse, repeat.

 

Make America Great for who, doc?

 

Women?

Blacks?

LGTBQ?

Kids?

 

Who Doc?

 

Billionaires and Millionaires who benefited most from his $1.9 TRILLION dollar TAX PLAN?

His properties?  Why wouldn't Pompeo release the report that indicated how much went to Trump properties during the Trump admin?

His Friends? Trillions in PPP loans forgiven...

 

Yeah... Trump was out to MAGA alright.

 

 

 

 

 

 

Edited September 9, 2022 by BillStime

[Backintheday544]

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

[Chef Jim]

2 hours ago, Backintheday544 said:

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

Even with the elimination of the personal exemption lower income individuals and families came out ahead.  So no it’s not a hoax. 

[Backintheday544]

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.

[Buffarukus]

6 hours ago, Chef Jim said:

 

Jesus Christ.  You have never had an original thought in your life have you.

 

Explain why this is a Hoax.  

 

he forgot what username he was on.

[Chef Jim]

39 minutes ago, Backintheday544 said:

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.

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. 

[Backintheday544]

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.