The U.S. national debt exceeded $33 trillion for the first time ever

Into the Night said:
He didn't.
Click to expand...

https://calmatters.org/politics/2019/04/trump-tax-california-salt-deduction-property-april/

For communications professor Jason Jarvis and his wife, Jun, California just got more expensive. The Inglewood couple, who last year paid $16,000 in state and local taxes, were only able to deduct $10,000 of it from their federal taxes this year.

The federal Tax Cuts and Jobs Act—signed last year by President Donald Trump and cheered by Republicans in Congress—cost the Jarvis family between $4,500 and $5,000 in deductions, raising their bill from the Internal Revenue Service even after a larger child tax credit for their 15-month-old son, Kellar.
Click to expand...


https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained


The state and local tax (SALT) deduction allows taxpayers of high-tax states to deduct local tax payments on their federal tax returns. The tax plan signed by President Trump in 2017, called the Tax Cuts and Jobs Act, instituted a cap on the SALT deduction. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000. Previously, there was no limit. We take a closer look at what the reduced deduction has meant for residents of high-tax states like California, New York and New Jersey. If you’re concerned about the impact of these changes, consider working with a financial advisor to manage the impact of taxes on your financial plan.
Click to expand...
 
LV426 said:
No it wasn't.

It never was.

Every single promise you assholes made of your policies went unfulfilled.

You never hit growth of 3%
You never increased tax revenue
You lost net jobs
You lost the trade war with China that resulted in a $30B bailout for farmer trash
You never reduced the debt
You never even reduced the deficit

You took Obama's economy, which had grown consistently for 7 years, and threw it in the toilet with a tax cut that had the opposite intended effect on business investment, and resulted in a loss of 300,000 manufacturing jobs in 12 months.

There exists no world in which Trump's economy was better than Obama's. Trump's economy was actually worse than Bush the Dumber's (remember him?).




I see yet another Conservative struggles with the concept of linear time.

The Recession started in February 2020, the first COVID lockdowns weren't until March.

Does February come before or after March in Conservatardia?
Click to expand...

You are spewing Democrat lies


https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
 
LV426 said:
Trump sold us out to China, did you forget?

Did you forget that we had to spend $30B to bail out farmer trash who thought waging a trade war with China was a good idea?

In the end, we didn't gain A SINGLE THING from that.




What do you mean? This sentence is not very well written.




The opioid crisis started with Trump.

More fentanyl came into the country during Trump than any other President.

Biden has caught more at the border than Trump ever did.
Click to expand...

It is Biden that is selling us out to China
 
LV426 said:
The simple fact is that the shitty places where people like you live don't have high wages...and because they don't have high wages, they don't pay a whole lot in taxes.

I live in the Atlanta metro area...we pay at least 53% of the taxes in the state, but only get 37% of the spending.

That means people who pay 47% of the taxes get 63% of the spending.

That's why you're a welfare queen.

Propping up the boonies, Atlanta’s thankless burden
https://www.ajc.com/news/local/torp...anta-thankless-burden/r1SZjXxBgQ6Oi4QC5AsOHM/
Click to expand...

We have no state income tax
 
ptif219 said:
https://calmatters.org/politics/2019/04/trump-tax-california-salt-deduction-property-april/




https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained
Click to expand...

So you agree. Trump did not eliminate deduction of State taxes. He only put a cap on part of it, resulting in double taxation (wasn't there a war about that once?) for some taxpayers.
The State does not have to be a high tax State. For example, in Florida, you can get corruption in government for MUCH less than in Washington! Both taxes are deductible (up to the SALT limit).

If someone is living in the SDTC or in the SOTNY, their deduction of their taxes on the 'federal' taxes is the least of their problems.
 
Lightbringer said:
1. Our debt isn't anywhere near that level.

2. It isn't only democrats who want to run up debt.
Click to expand...

It's past that level.

There is no way the 'federal' government can pay back it's debt without printing funny money to do it (a technical default) which ruins the currency just the same.
 
Into the Night said:
So you agree. Trump did not eliminate deduction of State taxes. He only put a cap on part of it, resulting in double taxation (wasn't there a war about that once?) for some taxpayers.
The State does not have to be a high tax State. For example, in Florida, you can get corruption in government for MUCH less than in Washington! Both taxes are deductible (up to the SALT limit).

If someone is living in the SDTC or in the SOTNY, their deduction of their taxes on the 'federal' taxes is the least of their problems.
Click to expand...

Which means he eliminated a good portion of it
 
You must log in or register to reply here.
Back
Top