President BIDEN Vows to Make Americans Pay More Federal Taxes in 2025 - Political Suicide.

Tuesday, April 23, 2024

In addition to being responsible for gasoline costing 74% more and food 21% more, JOE BIDEN has promised to increase the amount of Federal Income Taxes we pay next year, if Americans give him another 4-year term in the White House. From a campaign speech President Biden gave in Pennsylvania last week...

“[Trump] was proud, very proud of his $2 trillion tax cut when he was president that overwhelmingly benefited the wealthy, and the biggest corporations and exploded, exploded the federal debt.”

President Biden vowed Friday that former President Donald Trump’s 2017 tax cuts would lapse next year if he’s re-elected and “stay expired” — meaning higher taxes for middle class and low-income Americans.

Biden, 81, lambasted Trump’s Tax Cuts and Jobs Act (TCJA), which permanently lowered corporate taxes from 35% to 21%, and temporarily lowered personal income tax rates through 2025, as a giveaway to the rich, in a speech to electrical union members in Washington.

More at: nypost.com...

By NOT extending or making permanent the "Trump Tax Cuts", President Biden will be raising everyone's taxes...causing us to pay a higher percentage of our income to the Federal Government (aka "Uncle Sam").

The top individual tax rate dropped from 39.6% to 37% under the terms of the Tax Cuts and Jobs Act (single filers making $578,126 and over),

the 33% bracket fell to 32% ($182,101-$231,250),

the 28% bracket to 24% ($95,376-$182,100),

the 25% bracket to 22% ($44,726-$95,375) and

the 15% bracket to 12% ($11,001-$44,725).

Not extending the TCJA beyond 2025 would mean every American would need to reassess their spending and tax returns, and plan to pay 1% to 4% more in personal income taxes.

Examples at: finance.yahoo.com...

Summary: President Biden increased our cost-of-living by 30% over the past 3 years. Now he's PROUDLY promising to increase our Federal Tax bills. For MOST working Americans, instead of sending 22% of their income to the IRS, they will begin sending 25% of their income to the IRS. Ouch!

I remember clearly to this day how Super Wealthy U.S. House minority leader NANCY PELOSI bashed the Trump Tax Cuts as meaningless "crumbs", from the perspective of working-class individuals. Yet all she could do was babble incoherently, when reporters asked her why she didn't help balance the budget by cancelling those "crumb" tax cuts, after she became Speaker of the House in 2019.

Surely President Biden has seen what happens to candidates who promise/vow to raise taxes. They commit Political Suicide. Perhaps Joe Biden doesn't want to be President again, but his "handlers" are forcing him to run? So he promises to raise taxes, on top of Biden-Inflation, and...he's out of there. Back to his Delaware basement, for good. ❓

-WeMustCare

I thought Biden was committing political suicide in that second debate with Trump back in 2020, when he promised an amnesty for the illegal aliens if he got into office. Fool me twice, won't get fooled again!

Why didn't Trump make the middle and lower class tax cuts permanent like he did the corporate tax cuts? Seems a little weird to be holding Biden accountable for something Trump didn't take the initiative on when he had the chance.

Fact is, those temporary tax cuts for middle and lower classes were just to lull us into accepting the permanent ones for corporations. They were never meant to be permanent otherwise it would have been part of the law when it passed. The only people who "deserve" welfare are corporations apparently, the little guy always ends up footing the bill.

a reply to: ImagoDeiIt was like ''here's a Prime Rib dinner for us rich guys and a tasty little three minute lolllypop for the rest a youse.

Well the good news is that POS will just be a bad memory come 2025 !

Ah, it becomes clearer. It's called leave the crap scenario. You'll see exactly the same tactic in the UK before this years elections. IE. the outgoing party, Biden/Sunak, know they have absolutely no chance of winning so before they are voted out they cause massive problems (upping tax, spend excessively on vanity projects, promise the Earth) which greatly affect the population then the incoming people are in the sh## before they start. Then for the next few years the losers/opposition now can crow at the government that it's their fault that they can't cure the troubles straight away.

The added bonus comes with all the problems they are causing somewhere along the line they are juicing the system and pocketing millions.

a reply to: WeMustCare

Biden hasn’t done anything to help the federal debt or inflation, he’s in fact added to it.

That said, Trump added to that mess too.

Tax cuts while increasing spending is just buying votes. It’s no different than Biden trying to forgive student debt.

And Trump did give more tax cuts to corporations and the rich than he did the middle class. The justification for this is trickle down economics. Yet, wages haven’t climbed in relation to inflation. The price of goods are reaching record highs while the stocks and earnings reach record highs.

Both their fiscal policies are atrocious.

It’s beyond me though how any party can act like the party of fiscal responsibility while cutting taxes and maxing out the countries credit cards.

As someone who leans libertarian, it’s hard to defend either of these two parties.

a reply to: WeMustCare

oh boy i sure do look forward to paying more federal income tax. that almost as good as paying six bucks a gallon for gas, and shrinkflation on top of inflation.

hey while we're at it can we please let so more illegal's in and let them vote.

originally posted by: ImagoDei
Why didn't Trump make the middle and lower class tax cuts permanent like he did the corporate tax cuts? Seems a little weird to be holding Biden accountable for something Trump didn't take the initiative on when he had the chance

Two fairly obvious reasons come to mind. As an insurance policy to keep himself in office through reelection. Also, a fairly easy trap for an incompetent contender who isnhell bent on reckless spending. He knows Bidencwill let it lapse and he knows he will extend it. He believes you'll choose the obvious option.

a reply to: Boogerpicker

You telling me Trump counted on losing in 2020 when he passed this law and knew that he would be reelected to extend the tax cuts again in 2024? Tell me how that works unless he's in on the fix and knows what the elites have in the cards years in advance.

Trump did bad things.

Biden is doing bad things.


… yes. And?

And we’re screwed no mater which side wins. We need a Milei. Cut the government down drastically.

I think in my federal last year I ended up paying about 36k and I really feel that just isn't enough for me and I will vote Joe! Hopefully, the states raise sales tax too, and we see more taxes on gas, you just can't tax me enough for my country. When I'm finally taxed to death then I hope they tax the crap out of what I leave my family that has already been taxed on a half dozen of ways.

originally posted by: pianopraze
Trump did bad things.

There is bad and then there is really bad. Joe has been on the really bad list with his decisions in government, so what exactly did Trump do badly as President?

originally posted by: Boogerpicker

Two fairly obvious reasons come to mind. As an insurance policy to keep himself in office through reelection. Also, a fairly easy trap for an incompetent contender who isnhell bent on reckless spending. He knows Bidencwill let it lapse and he knows he will extend it. He believes you'll choose the obvious option.

Or it could be this...

To meet a budget constraint that was necessary to pass the 2017 law with no Democratic votes, Republicans set tax cuts for individuals to expire at the end of 2025.

Trump had nothing to do with 2025, he didn't pass it, Congress did.

a reply to: Xtrozero

Yet I see Trump getting credit for the tax cuts all the time around here, ALL the time. Now all of a sudden when they don't look so great for him he had nothing to do with them? Classic. You guys have become experts at passing the buck for Trump when your ideology calls for it. 😂

Of course they had to make the individual taxes and and not the corporate. Corporate welfare with Trump as the face, can't get any more ironic than that.

Biden's inflation is already like a huge tax hike on the American people...but, hey, that forgiven student loan debt won't pay for itself.

a reply to: CarlLaFong

The spending started under Trump, so did the pandemic. The economy is in large part due to how Trump responded in 2020. I know, I know, it was everyone but Trump's fault when he was in office but all Biden's fault now. You can't put this all on Biden even though he has played a part as well.

a reply to: Boogerpicker

You pay the taxes regardless.

Either we balance the budget and revenue, or we print money causing inflation when we’re in a bind.

Inflation is a hidden tax.

It’s a shell game, but ultimately it’s pretty standard.

Hell, look up how much the federal government pays a year in interest payments. We can’t just cut taxes and increase spending and expect that we’re going to magically figure out the infinite money glitch.

There is no fiscally responsible candidates at the federal level on the landscape. We can argue who’s worse, but they’re all horrible and proven to be so.

a reply to: ImagoDei

Assuming you're a US citizen...were you financially better off under Trump or Biden?

Honest answer, please.

originally posted by: CarlLaFong
Biden's inflation is already like a huge tax hike on the American people...but, hey, that forgiven student loan debt won't pay for itself.

I’m sure Trump running up almost as much debt as Obama in half the time and printing trillions of dollars had anything to do with inflation.