Biden's 62% tax won't create jobs

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

8 Likes
oranos - 

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

Yeah… trickle down works sooooooooo well.

1 Like
RdotC -
oranos - 

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

Yeah… trickle down works sooooooooo well.

Let people keep more of the money they earn, they can put that money back into the economy.

Pretty simple. 

3 Likes

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

1 Like

Moody's analytics, which is reputable, not left leaning and highly respected by both parties models that Biden's plan will add 7 million more jobs than Trump's

Admittedly I don't know how they created this model as Trump has no plan in writing, but I assume they are modelling based on what he's done so far.

https://nymag.com/intelligencer/2020/09/economist-biden-plan-creates-7-million-more-jobs-than-trump.html

Wall street journal predicted two years quicker economic recovery under Biden.

The two parties are not that different and neither's plan is going to destroy anything. There are very small differences.

madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

No need to speculate on things that don't exist. Like the OP

Hmmm Maybe 82 percent will work? 

madmartigan -
BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

No need to speculate on things that don't exist. Like the OP

Lol that's what I thought 

BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

biden's tax plan only raises the highest tax rate by 2.6%, back to where it's been for 20 years.  this isn't the big deal.

what's new or significant, is the payroll tax (social security) that is being added on incomes above 400k in an attempt to fix social security.  that's 12.4% and is only paid in full by the self employed, otherwise it's 6.2%.  currently there is no proposal to add the tax on incomes between 137,700 where it currently caps and 400k.

i'm torn on the SS part.  we need to do something.  we're fine for another 10 years or so, but if we don't act now, it's going to force us to cut benefits, means test it, or push out retirement ages to 75.  there just arent enough people working ot keep it solvent.

Every major investment analyst and firm says Biden (& by extension the Dems) will be better for the economy overall, including the stock market, than the Republicans. History backs them up.

So you can choose to believe OP who is just spouting his anti-left rhetoric/wishful thinking or the experts who actually know what they're talking about.

Of course, if you're a Trump cultist you take Moron in Chief's word over scientists, medical health professionals and practically every one else on the planet -- on everything, so we already know who you're going to believe, don't we?

BrowBeaten -
madmartigan -
BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

No need to speculate on things that don't exist. Like the OP

Lol that's what I thought 

You thought OP was spreading fake news?

You are correct

EFM -
BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

biden's tax plan only raises the highest tax rate by 2.6%, back to where it's been for 20 years.  this isn't the big deal.

what's new or significant, is the payroll tax (social security) that is being added on incomes above 400k in an attempt to fix social security.  that's 12.4% and is only paid in full by the self employed, otherwise it's 6.2%.  currently there is no proposal to add the tax on incomes between 137,700 where it currently caps and 400k.

i'm torn on the SS part.  we need to do something.  we're fine for another 10 years or so, but if we don't act now, it's going to force us to cut benefits, means test it, or push out retirement ages to 75.  there just arent enough people working ot keep it solvent.

heres a idea, STOP GIVING IT TO PEOPLE WHO NEVER PUT ANYTHING IN

D.I.L.L.I.G.A.F. -
EFM -
BrowBeaten -
madmartigan -

Not only won't it create jobs.

It doesn't exist!

Awesome sauce,OP. 

That's good. Because if that was his tax plan, you'd obviously be against it. Right? 

biden's tax plan only raises the highest tax rate by 2.6%, back to where it's been for 20 years.  this isn't the big deal.

what's new or significant, is the payroll tax (social security) that is being added on incomes above 400k in an attempt to fix social security.  that's 12.4% and is only paid in full by the self employed, otherwise it's 6.2%.  currently there is no proposal to add the tax on incomes between 137,700 where it currently caps and 400k.

i'm torn on the SS part.  we need to do something.  we're fine for another 10 years or so, but if we don't act now, it's going to force us to cut benefits, means test it, or push out retirement ages to 75.  there just arent enough people working ot keep it solvent.

heres a idea, STOP GIVING IT TO PEOPLE WHO NEVER PUT ANYTHING IN

If you don't pay in, you don't get a benefit.  Your benefit is based on how much you pay in, not everyone gets the same benefit.

1 Like
BrowBeaten -
RdotC -
oranos - 

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

Yeah… trickle down works sooooooooo well.

Let people keep more of the money they earn, they can put that money back into the economy.

Pretty simple. 

Except that is not how it works. People earning over $400k will save most of money they are given. Whereas giving tax breaks to the middle and working means the money gets spent on consumables, growing the economy and creating jobs.

LoveToChoke -
BrowBeaten -
RdotC -
oranos - 

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

Yeah… trickle down works sooooooooo well.

Let people keep more of the money they earn, they can put that money back into the economy.

Pretty simple. 

Except that is not how it works. People earning over $400k will save most of money they are given. Whereas giving tax breaks to the middle and working means the money gets spent on consumables, growing the economy and creating jobs.

They'll save it? How do you come to that conclusion?? 

Anyone that doesn’t acknowledge that the Fed govt has a massive spending problem is a nut job

BrowBeaten -
LoveToChoke -
BrowBeaten -
RdotC -
oranos - 

The irony of pretending that raising taxes on the rich is somehow beneficial to the average citizen.

Jobs are created from wealth liquidity.

All Biden wants to do with that money is further enrich his own party and grow the government out of control so they can never lose power.

Yeah… trickle down works sooooooooo well.

Let people keep more of the money they earn, they can put that money back into the economy.

Pretty simple. 

Except that is not how it works. People earning over $400k will save most of money they are given. Whereas giving tax breaks to the middle and working means the money gets spent on consumables, growing the economy and creating jobs.

They'll save it? How do you come to that conclusion?? 

Supply side tax policy, or "Trickle Down Economics" aka Reaganomics was proven not to work.  The rich don't reinvest tax breaks into businesses, they keep or save most of the money.  It's provable in the GDP numbers following tax cuts as well as savings rates, and other economic data.

But that's not what people remember.

1 Like
Thelonious -

Moody's analytics, which is reputable, not left leaning and highly respected by both parties models that Biden's plan will add 7 million more jobs than Trump's

Admittedly I don't know how they created this model as Trump has no plan in writing, but I assume they are modelling based on what he's done so far.

https://nymag.com/intelligencer/2020/09/economist-biden-plan-creates-7-million-more-jobs-than-trump.html

Wall street journal predicted two years quicker economic recovery under Biden.

The two parties are not that different and neither's plan is going to destroy anything. There are very small differences.

moodys credibility was eviscerated on the original thread about it

Stronghold - Anyone that doesn't acknowledge that the Fed govt has a massive spending problem is a nut job

This.

But it's not an easy problem to solve.  What's killing us is military spending and SS/MC.  But those are also massive economic subsidies.  Cut either significantly and you kill the economy.

1 Like