Edit: why gifs no work on Eternity?
this post was submitted on 23 Jan 2025
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This is nothing, wait until the Trump tariffs kick in and everything gets more expensive.
you say prices will go up, all I can hear is it's going to become cheaper to steal.
The price at which it becomes a felony won't charge. You'd have to do it in organized groups like the raids in LA a number of years ago.
Um, have you tried just not being poor?
but at least now baby jesus will stop shedding tears because transgenders and intersex people can now be labeled with their correct biblical gender
that will make the poor religious folks happy at least, right? they don't need grocerries, baby jesus is happy the transgenders are suffering! delicious!
Is this from the extention of last tax cuts that are still active but set to expire unless renewed? Or a new proposal on top of that policy?
I don't think we know anything yet for real. I believe they included the costs of the tarrifs into everyday Americans taxes, because they are taxes after all... But Madam President changes the percent on tarrifs and to whom every time they talk, so unless someone actually writes something down, we'll never know anything concete. It is concrete that they are no longer a man though.
No guys it's cool it'll trickle down any day now just wait
Well, something is trickling down but for some reason it smells like piss.
I can't wait for the trickle down Bukkake. Any minute now!
Arigato gozaimasu billionaire chan
Who would have thought he would do the same thing he did in his first term again?
Less than half of the voters, apparently.
Something tells me most of his voters have no idea what he did last time
They were all trying to figure out why Obama wasn't in the oval office for 9/11
"A small price to pay to own the libs!" the drones say as they make boiled leather soup.
Must be rich that they can afford leather and heat
They're using pillaged library books as a heat source.
Don't forget deport immigrants (arguably increasing food costs). BIL sent me an article about 400+ illegals getting deported Tuesday night or something. Weird, I thought there were hundreds of thousands of them. They could only get that many? "The majority were criminals" Aight, cool. Keep those resources going and start processing the years and years of rape kits left waiting for testing. Start getting those citizens too, champ. Or are we only after the brown criminals? Hmm....
Graph is from October 2024 this isn’t some new version that was just released either
Correct. And it is still current.
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
If you look at "breakdown of tax propoals by category" note that it doesn't account for inflation, for example giving a reduction to everyone for tax cuts. But in the real world, that's not how it works. Tax cuts that are paid for with deficit spending like these are essentially zero-sum because the price of everything will have to increase to account for spending power. So in other words, it's even worse for everyone but the 1% than indicated.
Nobody in the US knows how marginal rates and progressive tax brackets work, you can sell the fools on anything and just blame the IRS because it’s the most convenient incarnation of what people hate.
I mean even this post got it wrong, your taxes go up until about $1 mil, not $300k.
But the cuts could start benefiting you at the $300k bracket relative to before. What's the actual change?
Because the way marginal taxation works if you make 300k you paid all those extra brackets tax hikes before you got to 300k and started seeing the lower marginal rate.
So to see your impact you add every changed number from the left up to your income, that’s your impact.
Yes it takes a positive turn at 300k, but you’re already deep in the whole and don’t turn to actually positive until around the final bracket.
I know how marginal taxes work and you didn't address my question. If the tax on above $300k is less than it was before you are paying less. What is this about something changing at $1 million?
I think what they're saying (I didn't look at the data yet) is that while the rate at 300k is lower, that lower rate doesn't make up for the higher rates that individual will have paid until that point. So for the individual in question, the net positive doesn't happen until 1m.
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They raise taxes on the middle class to make people hate taxes so they vote for smaller government.
They’ve been doing it since the 80s. God how I wish our politics weren’t in a death spiral. It’s so boring.
It looks like they aren't planning to institute the new changes until spring this year. Is that correct, or am I misreading the website?
This is just peak brainworm. What does someone making nearly a million dollars a year even do with an extra 7k?? Make their scroodge McDuck vault a little deeper? Doesn't matter how deep it is, you still can't dive into it like a pool. Idiots.
Pretend that's the end of the bracket and it doesn't increase from there. Now the guy making 100,000,000 gets an extra $700,000
To be honest, if you're able to make a million a year (even hundreds of thousands a year), you can afford an accountant who will tell you not to take compensation as employment income.
If you're a business owner you'll be taking a significant share as dividends, or if you're an executive you'll be taking stock options or other share based compensation. If done correctly, you can not only take advantage of lower tax rates but also defer taxes to future years.
If you say so....I'm more of a turbotax on April 14 kinda guy
No, you totally can dive into a pile of gold and swim in it and they should definitely all try it. It works better the higher the diving board is.
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That's on top of the increase starting now as well.
The tax plan of 2017 cut taxes for everyone, but starting last year they went up for anyone not making 300k or more.
Is there a source on this? Not that I don't believe it, I'm sure this is exactly what's going to happen, but if I bring it up in conversation saying "I saw it in a meme" will deflate the argument.
Institute on Taxation and Economic Policy (ITEP)
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
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LOL Bush Jr did the same thing as did the previous Republican president. This is par for the course.
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