BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   7Post - 7 Series Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board > Politics/Religion

Post Reply
 
Thread Tools Search this Thread
      06-30-2020, 01:48 AM   #1
turboawd
Colonel
1181
Rep
2,460
Posts

Drives: 2015 X5 35i
Join Date: May 2015
Location: United States

iTrader: (0)

Biden tells donors: Iím going to get rid of most of Trumpís tax cuts.

https://www.cnbc.com/2020/06/29/bide...-tax-cuts.html
Quote:
ďIím going to get rid of the bulk of Trumpís $2 trillion tax cut,Ē Biden continued, ďand a lot of you may not like that but Iím going to close loopholes like capital gains and stepped up basis.Ē

Biden also said he would raise the corporate tax rate to 28%, which he said would raise an estimated $1.3 trillion over the next decade. The Trump tax cuts had shrunk corporate taxes to 21% from 35%.
That extra money you were getting in your pocket? You don't deserve it according to Joe.
Appreciate 0
      06-30-2020, 02:40 AM   #2
zx10guy
Colonel
2719
Rep
2,586
Posts

Drives: 2013 135i
Join Date: Feb 2014
Location: DC

iTrader: (0)

Well, my selfish side says good. Because, I ended up paying more in taxes after Trump's tax cut.
__________________
Quote:
Originally Posted by Lups View Post
We might not be in an agreement on Trump, but I'll be the first penis chaser here to say I'll rather take it up in the ass than to argue with you on this.
Appreciate 3
cjb762989.50
quick6641.00
JMAC5150128.00

      06-30-2020, 06:15 AM   #3
other_evolved
Lieutenant Colonel
1672
Rep
1,742
Posts

Drives: 2015 Chevrolet SS
Join Date: Oct 2012
Location: Saint Louis

iTrader: (0)

Federal tax rates are at a historic low point and trumps tax cuts, by design, will go up on their own in 2026 because of budgetary reasons. Given the spending, debt and low tax level is it really any surprise that taxes would go up?
Appreciate 3
minn197020.50
quick6641.00

      06-30-2020, 06:31 AM   #4
Dog Face Pony Soldier
2006 TIME Person Of The Year
Dog Face Pony Soldier's Avatar
United_States
8243
Rep
5,991
Posts

Drives: M Sport 335i
Join Date: May 2013
Location: North Jersey

iTrader: (0)

Garage List
2014 335i  [4.87]
I'm so concerned about Biden winning I'm putting off major purchases until after early November. Feels like the prudent approach considering the policies his handlers will surely tell him they're implementing. Sad part is Dementia Joe won't even realize what's going on.
__________________
Appreciate 1
      06-30-2020, 06:42 AM   #5
c1pher
Primo Generalissimo
United_States
1866
Rep
2,658
Posts

Drives: Porsche Macan Turbo
Join Date: Jun 2009
Location: DC area

iTrader: (0)

Garage List
Quote:
Originally Posted by Dog Face Pony Soldier View Post
I'm so concerned about Biden winning I'm putting off major purchases until after early November. Feels like the prudent approach considering the policies his handlers will surely tell him they're implementing. Sad part is Dementia Joe won't even realize what's going on.
The real issue is who the shadow president will be. Thatís what Iím most concerned with by voting for Biden. Heís already showing signs of mental decline. That doesnít improve over time, so before he gets removed, there will probably be a desire to simply pull the strings while keeping him propped up. Unless the VP decides to go in and stage a coup and then you have President Stacy Abrams.
Appreciate 0
      06-30-2020, 08:08 AM   #6
gjm120
Colonel
United_States
1509
Rep
2,342
Posts

Drives: 2013 128i
Join Date: Jan 2016
Location: East Texas

iTrader: (0)

Quote:
Originally Posted by c1pher View Post
The real issue is who the shadow president will be. Thatís what Iím most concerned with by voting for Biden. Heís already showing signs of mental decline. That doesnít improve over time, so before he gets removed, there will probably be a desire to simply pull the strings while keeping him propped up. Unless the VP decides to go in and stage a coup and then you have President Stacy Abrams.
I am really afraid that the (very short) era of US greatness is ending. We will be ok as we live off of what is left over, but, it will run out. Think Venezuela. It was doing fine at $80 oil but it all went belly-up when oil prices dropped.

Furthermore, the Dems want to move towards a true Democracy and the old saying about Democracy failing when people realise they can vote themselves the public purse is true.

While most Trump haters are just over-emotional types who need soothing from their leader, I believe many of them are just mad that their taxes didn't drop or may have actually gone up due to his tax plan.
__________________
E82 / BMWP Springs / Koni Yellows / M front control arms / Adjustable front endlinks / M rear guide rods / RSFB inserts / AT + paddles
Appreciate 0
      06-30-2020, 08:29 AM   #7
c1pher
Primo Generalissimo
United_States
1866
Rep
2,658
Posts

Drives: Porsche Macan Turbo
Join Date: Jun 2009
Location: DC area

iTrader: (0)

Garage List
Quote:
Originally Posted by gjm120 View Post
I am really afraid that the (very short) era of US greatness is ending. We will be ok as we live off of what is left over, but, it will run out. Think Venezuela. It was doing fine at $80 oil but it all went belly-up when oil prices dropped.

Furthermore, the Dems want to move towards a true Democracy and the old saying about Democracy failing when people realise they can vote themselves the public purse is true.

While most Trump haters are just over-emotional types who need soothing from their leader, I believe many of them are just mad that their taxes didn't drop or may have actually gone up due to his tax plan.
While I don't like taxes, I understand the need. We have a weird thing with social security that people pay into but might not be able to get their due? You could come up with all kinds of ways to fund it like reduce what we pay to foreign countries, increase the current SSA cap to full salary vs $130k like it is this year and so on.
Appreciate 0
      06-30-2020, 08:41 AM   #8
gjm120
Colonel
United_States
1509
Rep
2,342
Posts

Drives: 2013 128i
Join Date: Jan 2016
Location: East Texas

iTrader: (0)

Quote:
Originally Posted by c1pher View Post
While I don't like taxes, I understand the need. We have a weird thing with social security that people pay into but might not be able to get their due? You could come up with all kinds of ways to fund it like reduce what we pay to foreign countries, increase the current SSA cap to full salary vs $130k like it is this year and so on.

The fear I have is we have enough financial problems, like FICA as you mentioned, looming. A fully democratic system with a somewhat lazy, entitled and not well educated voting population and the freebies will get crazy. The elected ruling class will never get hosed financially because they vote themselves their compensation.

This is why the Democrats want to make DC a state and lower the voting age. Free college, free healthcare, free (fill-in-the-blank) will be coming down the pike I think.
__________________
E82 / BMWP Springs / Koni Yellows / M front control arms / Adjustable front endlinks / M rear guide rods / RSFB inserts / AT + paddles
Appreciate 0
      06-30-2020, 12:22 PM   #9
detroitm2
Lieutenant Colonel
detroitm2's Avatar
United_States
1459
Rep
1,538
Posts

Drives: 2018 M2
Join Date: Aug 2018
Location: Michigan

iTrader: (1)

Garage List
2018 BMW M2  [0.00]
Quote:
Originally Posted by c1pher View Post
Unless the VP decides to go in and stage a coup and then you have President Stacy Abrams.
or worse, President Gretchen Whitmer
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 04:16 PM.




7post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST