September 27, 2020

Biden promises to terminate Trump tax cuts

Though Donald Trump’s Tax Cuts and Jobs Act of 2017 slashed the amount of taxes the average American pays by 25 percent, Democrat presidential hopeful Joe Biden has promised that he will roll back those tax cuts if he’s elected. 

“I’m going to get rid of the bulk of Trump’s $2 trillion tax cut and a lot of you may not like that but I’m going to close loopholes like capital gains and stepped-up basis,” Biden recently told donors at a private fundraiser.

Trump’s tax cuts: not perfect, but helpful to low-income earners and the middle-class

The Tax Cuts and Jobs Act of 2017 was passed in December 2017 in the House of Representatives when Republicans were still in the majority. The Democrats described the as tax cuts as a boon only for the rich, but in reality, the program lowered the tax rates for all income brackets, greatly benefitting earners in the lower brackets.

The child tax credit was doubled and the estate tax threshold was doubled and continues to rise, currently at over $11 million per individual. This offers farmers, small business people, and individuals greater protection as they seek to pass their wealth to their heirs, and keep their lands and businesses intact.

The new law didn’t really help the “rich” because it lowered the maximum amount of State and Local taxes that could be deducted from overall income to $10,000. In California, many rich people pay that or more just in property tax for one property. And the top income tax rate for people earning over $500,000 is 37%. That’s $185,000 in taxes on $500,000 in earnings.

The act did help corporations, lowering the corporate tax rate to 21%, which incentivized large corporations to “repatriate” their earnings and increased tax revenue for the federal government.

Democrats want your money

Democrats believe it is their duty to take your money and redistribute it to whomever they deem should have it. They cloak their theft in the rhetoric of economic justice and other Marxist nonsense. They usually end up getting the majority of it and funnel the rest to favorite foundations, nations, and non-governmental organizations like Open Society. 

Unfortunately, Democrat voters fall for it every time. In 2018 in California, a majority of Democrats voted against repealing a gas tax Governor Jerry Brown imposed on California. All it took was a few twists in the wording of the ballot initiative, and California Democrats were convinced that repealing the gas tax would halt much-needed infrastructure work in the state. Well, the tax is still in place, making California gas some of the most expensive in the nation, and the roads are still some of the worst in the nation.

The November election could mean the difference between keeping more of your hard-earned money or sending more of your money to Washington for Democrats to “redistribute to the deserving.”

When President Trump cut taxes, all Americans — Republican and Democrat — kept more of their money. If Biden wins, he has explicitly confirmed that he will work to end that boon. Both Democrats and Republicans will be poorer if Biden is elected.

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17 Responses

  1. We need to remind the people who have cut their taxes and be told that they lose all the income that they have gotten as result of this. If Biden, evil Democrat Socialists Communists and their allies: BLM and ARTIFA keep up what they are doing we will not have a country left at all.

  2. Our left wing communism inspired education system has basically made our youth so stupid that they no longer believe in reality and it is presently ripping our country apart! Yet no one really gives a damn and the communist party is winning! So keep voting for the criminally insane lunatics just like good little fools always do!!

    1. When it became unpopular to be found out as a member of the Communist Party of America, members joined the rank and file of the Democrat Party. Therein lies the reason for godlessness, anti-America, thuggery, lies, drug cartel gift receivers, name-calling, voter-fraud, and violence coming from the Democrat Party liberals. And most of the MSM is the propaganda mouthpiece of the Democrat Party.

  3. Despite republican claims, all studies have shown that tRUMP’s tax cuts greatly helped the rich while doing little for the poor or middle class.

  4. Biden and His Communist Cronies WILL DESTROY OUR COUNTRY, and Make YOU PAY FOR IT!
    TRUMP 2020 WWG1WGA

  5. YEA, BIDEN IS GOING TO “RAISE” TAXES!!!!!!!!!!! HE IS GOING TO FIX THE COUNTRY????? WHAT COUNTRY??????? IS THE QUESTION???????? BIDEN CAN NOT REMEMBER MANY, MANY ,MANY,THINGS…..HOW IS IT POSSIBLE THAT HE(PERSONALLY) (NOT SOME ONE APPOINTED TO DO HIS JOB) IS GOING TO RUN THIS COUNTRY???????? HE NEEDS SEVERAL NAPS A DAY…CAN’T GO OUT FOR FEAR OF THE VIRUS, HE CAN NOT HONESTLY DEAL WITH FOREIGN COUNTRIES????? WHAT WILL HE ACTUALLY BE PAID FOR????????? WHAT HE HAS DONE ALL HIS POLITICAL LIFE……..”RIDE THE COAT TAILS OF OTHERS?????????

  6. Biden, Pelosi, Warren and Ginsberg all need to be in a nursing home somewhere. They are all too old to do their job correctly.
    As far as the ” squad ” they need to be sent back where they come from

  7. Congress and all government workers should have their pay cut by 25% until this pandemic is over. Then cut it another 25% and ban public employee’s Unions.

  8. Pelosi likes investigation, I think it time we gave her one…..of her own.
    She has violated her oat to protect the constitution and the people.
    She supports the BLM mob communist, who want to tare down our great country.
    She supports the communist group Anti Fa, both are Russian backed groups.
    She willing wants to destroy the country’s economy, to make all of us slaves
    She is a trader to the people, to the country, and to her oath.

    And Pelosi claims she’s religious. She was ordained she said, as what I don’t know.
    I have heard that the coming of the Anti-Christ is upon us, perhaps???!

    1. If she was truly a godly catholic she would not be pushing abortion for anyone who wants it. These Godless hypocrites who murder human babies will have a lot to pay for after they meet their maker. I would be terrified to die if I were her

  9. Biden won’t be running the country, Antoinette Pelosi will. Biden will only be a puppet and a scapegoat if needed.

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