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Tax cuts coming!!
Posted: Sun Feb 09, 2025 3:43 pm
by Biker
I hope will be at least a little grateful
Under the CRFB study, expanding the State and Local Tax deduction (SALT) would cost from $200 billion to $1.2 trillion.
- Eliminating taxes on tips, which Trump campaigned heavily on enacting, would result in a $100 billion to $550 billion reduction in federal tax revenue, according to the study;
- Exempting overtime pay from federal taxes would cost $250 billion up to $3.0 trillion;
- Exempting Social Security benefits from federal taxes would cost between $550 billion and $1.5 trillion;
- Lowering taxes for U.S. production of certain goods would cost between $100 billion and $200 billion;
- Reducing tax benefits for stadium owners and ending the carried interest loophole would save about $100 billion, according to the group.
Re: Tax cuts coming!!
Posted: Tue Feb 11, 2025 6:33 pm
by CHEEZY17
Wait a second here: I've been told for years that Trump only cares about billionaires. That list seems mostly geared towards the middle class and regular folks. Gotta be a mistake, right?
Re: Tax cuts coming!!
Posted: Tue Feb 11, 2025 6:55 pm
by Reservoir Dog
Exploding the National Debt is nothing new to Republicans. It's kind of their go-to thing. It's all just pretend money, right?
Re: Tax cuts coming!!
Posted: Tue Feb 11, 2025 8:16 pm
by CHEEZY17
Reservoir Dog wrote: ↑Tue Feb 11, 2025 6:55 pm
Exploding the National Debt is nothing new to Republicans. It's kind of their go-to thing. It's all just pretend money, right?
Well, depending on the source and their timeline, DOGE has already identified over a billion in savings. That number is growing by the day though.
Re: Tax cuts coming!!
Posted: Tue Feb 11, 2025 8:57 pm
by Animal
Reservoir Dog wrote: ↑Tue Feb 11, 2025 6:55 pm
Exploding the National Debt is nothing new to Republicans. It's kind of their go-to thing. It's all just pretend money, right?
is that anything like when Biden passed that $2 trillion covid relief bill after covid was coming to an end?
Re: Tax cuts coming!!
Posted: Wed Feb 12, 2025 12:53 am
by CHEEZY17
Animal wrote: ↑Tue Feb 11, 2025 8:57 pm
Reservoir Dog wrote: ↑Tue Feb 11, 2025 6:55 pm
Exploding the National Debt is nothing new to Republicans. It's kind of their go-to thing. It's all just pretend money, right?
is that anything like when Biden passed that $2 trillion covid relief bill after covid was coming to an end?
That his own advisors warned him would exacerbate inflation.
Re: Tax cuts coming!!
Posted: Wed Feb 12, 2025 2:54 am
by Reservoir Dog
Animal wrote: ↑Tue Feb 11, 2025 8:57 pm
is that anything like when Biden passed that $2 trillion covid relief bill after covid was coming to an end?
CHEEZY17 wrote: ↑Wed Feb 12, 2025 12:53 am
That his own advisors warned him would exacerbate inflation.
And the $11 Trillion this new Trump tax plan would add to it - on top of the $8 Trillion Trump's last tax plan already added to it?
That's $19 Trillion!
GO MAGA !!!!
Re: Tax cuts coming!!
Posted: Wed Feb 12, 2025 4:25 pm
by Animal
Reservoir Dog wrote: ↑Wed Feb 12, 2025 2:54 am
Animal wrote: ↑Tue Feb 11, 2025 8:57 pm
is that anything like when Biden passed that $2 trillion covid relief bill after covid was coming to an end?
CHEEZY17 wrote: ↑Wed Feb 12, 2025 12:53 am
That his own advisors warned him would exacerbate inflation.
And the $11 Trillion this new Trump tax plan would add to it - on top of the $8 Trillion Trump's last tax plan already added to it?
That's $19 Trillion!
GO MAGA !!!!
so I guess you were okay with Biden handing out $2 trillion in unnecessary gifts to his voters disguised as Covid Relief?
I can tell you that I would not be okay with Trump adding any trillions to the debt. So if any of his tax plans do that, without offsetting spending to a greater extent or increasing tax revenue to offset, then put me down as being opposed to them.