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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's Project 2025 will bring large middle class tax increase
Link to tweet
Project 2025 shifts taxes from the wealthy to the middle class a family of 4 earning $100K would suffer a $2,600 tax hike, while a family earning $5 million would get a $325,000 tax cut.
End snip.
Blue Owl
(54,686 posts)And chain this boat anchor around their neck and watch 'em sink into the murky, shark-infested depths
StarryNite
(10,791 posts)to launch it on day one.
PatrickforB
(15,109 posts)The media.
I cancelled the NYT because they aren't.
I just called and left a long message on the Guardian's news office (not open in the middle of the day - I know they have US offices) to this effect.
Because THIS IS FUCKING FRONT PAGE NEWS.
If the media was beholden to actual TRUTH in news instead of some bullshit horserace that generates more shareholder profits, we'd be a boat load better off.
I think I'm going to send some tips to NBC, ABC, CBS, CNN, and Fox to this end. Fox won't but they will hear from me anyway.
Just called Sen. Bennet too. They aren't answering in DC, so he must be getting lots of blowback on his statement asking Biden to get out of the race. And I left a great message about the GIANT TAX INCREASE I would have and told them Bennet needs to publicly retract his statement.
h2ebits
(764 posts)Does this graph exist in another universe outside of X? I'd love to share it but can't.
Many DU'ers are pasting X comments on this site. Many of us would love to share the information to other social media but find it extremely difficult to do so.
Can you help?
deminks
(11,241 posts)Justice matters.
(7,499 posts)deminks
(11,241 posts)Justice matters.
(7,499 posts)It's free to share it:
https://i.postimg.cc/1RqDzjNs/p2025taxhikes4workers. jpg
(remove the space character between the dot and the j before sharing)
Hermit-The-Prog
(36,573 posts)Usually, open the image in a new tab and examine the url
https://pbs.twimg.com/media/GSnFWIaXEAIBVHv?format=png&name=small
Note the "format=png". Delete everything from the "?" to the end, and put ".png" in its place:
h2ebits
(764 posts)Hermit-The-Prog
(36,573 posts)h2ebits
(764 posts)sakabatou
(42,977 posts)jimfields33
(18,696 posts)The standard deductions doubled and the tax brackets were readjusted downward for all.
FHRRK
(964 posts)Because due to limitation on State and Local Taxes (SALT) I sure as hell didn't get a break.
Taking away 15k plus of deductions and then cutting my rate by 3% ended up with a break even point of about 750k!
So explain to to me like I am in Kindergarten. How did taking 15k of deductions off my immediate tax liablilty and cutting my rate by 3% not end up increasing taxes!
People in low income States got a break, those of us in high income (Blue States) got screwed.
Trekologer
(1,054 posts)The few individual tax return deductions that remain would be entirely eliminated (P. 697). Other tax changes?
Deductions for education expenses? Gone.
Deductions for moving expenses (if you aren't a member of the military)? Gone.
Ability to pay for your employee benefits, such as insurance premiums, health savings accounts, flexible spending accounts, childcare spending accounts is capped at $12,000 or "preferably lower". And the cap would not be indexed to inflation.
But if you're rich or a business owner, they've got you fam.
Estate tax exemption goes to $12.9 million. Entertainment expenses are fully deductible. Corporate tax rate reduced to 18%. Capital gains tax rate 15% but be indexed to inflation.
progree
(11,463 posts)The personal exemption was almost as large as the change to the standard deduction. So on net, comparing the standard deduction before and the personal exemption before to the doubled standard deduction after, we got only a small break there.
The loss of the dependents exemption was made up for by the doubling of the child tax credit in some cases. In some cases more than made up for. In some cases didn't quite make up for it -- that one depended on what tax bracket a person was in.
Myself, I itemized deductions both before and after the tax "cut", and I lost out on the deal. But only like 10% (I forget the figure) of taxpayers itemize after the tax "cut". I also wasn't hurt by the loss of the SALT deduction limitation, but I came very close. Someone who lost out on that likely got hurt.
I agree the tax bracket reductions helped.
It all was a mixed bag, but everything I've seen, e.g. Tax Policy Center and Tax Foundation said it was a small tax cut for most people
KPN
(16,086 posts)BoRaGard
(2,771 posts)more tax cuts for the rich
piss on the poor
littlemissmartypants
(25,370 posts)~Open the graphic in another link
~Copy that link
~Delete up to and including the question mark in the link
~Add a period and jpg eg., ".jpg"
~Copy the newly created link
~Paste the link in your new location
~Voila! Now you have created a graphic independent of the entire tweet
~Well done,you!
Stargazer99
(2,926 posts)They owe this country that let's them get wealthy...more is never enough for the rich...it is time for some ass kicking
Justice matters.
(7,499 posts)Apartheid's child is afraid to go starving?
Trekologer
(1,054 posts)And all other individual deductions are eliminated. It also would limit the tax advantages of employee benefit contributions.
FHRRK
(964 posts)So take another deduction away, basically 3.3k.
Give me back 3k on each 100k I make.
So let me due the math with my limited State School education.
$3,300 imediately gone. 3k is coming back AFTER income of over (estimate) about 800k.
MOST OF US DON'T MAKE 800K!!!!!!!!!!!!!!
It is income redistribution to Red States! (Except of Texas)
Johonny
(21,987 posts)He never cut my taxes.
Linda ladeewolf
(368 posts)patphil
(6,919 posts)How many middle class republicans can do the math, and realize how badly this plan screws them?
And how many will actually blame their party for their higher taxes, and the big tax breaks for the rich?
Probably a very small number.
CousinIT
(10,098 posts)I've been trying but they are not going to listen to one person:
https://www.democraticunderground.com/100219163121
@AP @CNN @MSNBC @ABC @CBS @NBC @NPR @NYTimes @bpolitics @USATODAY @Newsweek @Reuters @WashingtonPost @maddow @TheReidOut @Lawrence @ABCPolitics @ABCWorldNews @CBSNews @CBSEveningNews @TheBeatWithAri @NBCNews @NBCPolitics @NewsHour @CNNPolitics @TheLeadCNN @CNNSotu @MeetThePress @NBCUniversal @theweekendmsnbc
Oopsie Daisy
(4,473 posts)Major Nikon
(36,900 posts)The singular objective of the GOP is to leverage the power of government to make the rich richer. This takes the form of shifting tax burdens and regulatory responsibilities downward toward the lower classes. All the bullshit about teh guns, and teh abortions, and teh Jebus in schools, and all the other single issue claptrappery is just the Trojan Horse they use to gather up the useful idiots needed to make the rich richer at the expense of everyone else. The fact they don't even really need to disguise that reality is just a testament to how gullible so many Americans are to their particular form of demagoguery. The same story has been repeated throughout recorded history. You don't have to be all that smart or clever. You just have to appeal to the base emotions of people unable or unwilling to see through it.
radius777
(3,790 posts)amount to a sales tax on consumers, which is regressive and inflationary.
The way the RW thinks is never challenged by the media, and unfortunately our side tends not to do a good job at pushing back either. For example, the RW has been good at blaming inflation on higher minimum wage, when the true cause is corporate greedflation.
erpowers
(9,356 posts)These things need to be talked about more. Trump is constantly claiming he signed the largest tax cut in American history. I know that is a lie, but where the tax cut went also needs to be discussed. Who cares if he signed the largest tax cut in American history if it only went to the rich? Who are if he signed the largest tax cut if his tax cut raised taxes on the middle class and poor?
Democrats need to run ads on this as often as possible and in as many states as possible. They also need to bring this up during every TV and radio appearance.
OnDoutside
(20,651 posts)Turbineguy
(38,338 posts)JohnnyRingo
(19,304 posts)I don't know how regular Americans can see fit to vote for such a money grab, but all too many will.
Then they'll complain that the state isn't paying enough for schools, safety services, and infrastructure. "Why are there so many tax levies on the ballot?"
progree
(11,463 posts)(net investment income tax) which is a tax surcharge on high incomes.
Mike Niendorff
(3,542 posts)It's about damn time somebody FINALLY used this phrase.
This has been going on for over 40 years now -- shifting the tax burden off of the wealthy and onto the middle class and the poor.
It's being done both directly (ie: actual tax-rate changes) and indirectly (running up the national debt, where the interest payments then dry up funding for literally everything else, but the repayment is deferred to the next generation(s) -- to be payed by the children of the middle class and the poor, of course, because the same tax-shift that benefits the rich NOW also benefits them in the FUTURE when it comes to who pays the national debt).
This has been the game plan for a long, long time.
MDN