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RPM

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Js1

Js1 85744

Posted
Posted
Just now, Bullneck said:

I doubt you need to worry about Biden's tax plan.  

Dudes who sleep on mattresses with no bed frame are the first ones to worry about their taxes being raised 😂

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Guest Lobo

Guest Lobo

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Posted

Landman-----

The top rate under Reagan ranged from:  69.1 to 28.0 

The top rate under Bush-41 ranged from:  28.0 to 39.6 

The top rate under Clinton ranged from:  39.6 to 39.6

The top rate under Bush-43 ranged from:  39.1 to 35.0

The top rate under Obama ranged from:  35.0 to 39.6 

The top rate under Trump ranged from:  39.6 to 37.0  

What Trump did was less than spectacular.  It was a blip for most upper income folks.  Obviously when you get into the tens of millions, that 39.6 down to 37.0 makes a huge difference but for more HNWI republicans, Trump's shifts were far less tangible than those of Bush-43 or Reagan.  Now LTCF/Carried Interest is another story, but 95% of Trump voters never have to worry about those types of taxable events.  

Don't matter no-how anyway, tomorrow---they're taking our guns and seizing our bank accounts.  It's been real, America! 

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FondrenRoad

FondrenRoad 4378

Posted
Posted (edited)
3 minutes ago, Lobo said:

Landman-----

The top rate under Reagan ranged from:  69.1 to 28.0 

The top rate under Bush-41 ranged from:  28.0 to 39.6 

The top rate under Clinton ranged from:  39.6 to 39.6

The top rate under Bush-43 ranged from:  39.1 to 35.0

The top rate under Obama ranged from:  35.0 to 39.6 

The top rate under Trump ranged from:  39.6 to 37.0  

What Trump did was less than spectacular.  It was a blip for most upper income folks.  Obviously when you get into the tens of millions, that 39.6 down to 37.0 makes a huge difference but for more HNWI republicans, Trump's shifts were far less tangible than those of Bush-43 or Reagan.  Now LTCF/Carried Interest is another story, but 95% of Trump voters never have to worry about those types of taxable events.  

Don't matter no-how anyway, tomorrow---they're taking our guns and seizing our bank accounts.  It's been real, America! 

Trump raised my taxes. Need SALT deductions back. 

Looking at rate comparisons is barely relevant. Determining what is taxable income in the first place is where taxes actually go up and down. 

Edited by FondrenRoad
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Helobious

Helobious 9503

Posted
Posted
6 minutes ago, Js1 said:

Dudes who sleep on mattresses with no bed frame are the first ones to worry about their taxes being raised 😂

Bed frames are a pain in the ass to move and a waste of space and money. Rails & boxspring are all you need. Change my mind. 

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Guest Lobo

Guest Lobo

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Posted

Next time you move, have your husband or one of the movers detach the headboard from the frame (usually done at no extra charge).  You'll thank me and your bedroom will have a nicer appearance between moves.  

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Brew

Brew 3049

Posted
Posted
9 minutes ago, Lobo said:

Landman-----

The top rate under Reagan ranged from:  69.1 to 28.0 

The top rate under Bush-41 ranged from:  28.0 to 39.6 

The top rate under Clinton ranged from:  39.6 to 39.6

The top rate under Bush-43 ranged from:  39.1 to 35.0

The top rate under Obama ranged from:  35.0 to 39.6 

The top rate under Trump ranged from:  39.6 to 37.0  

What Trump did was less than spectacular.  It was a blip for most upper income folks.  Obviously when you get into the tens of millions, that 39.6 down to 37.0 makes a huge difference but for more HNWI republicans, Trump's shifts were far less tangible than those of Bush-43 or Reagan.  Now LTCF/Carried Interest is another story, but 95% of Trump voters never have to worry about those types of taxable events.  

Don't matter no-how anyway, tomorrow---they're taking our guns and seizing our bank accounts.  It's been real, America! 

Those are the tax rates, but you missed the 20% QBI deductions and the 21% corporate rates. The QBI deduction itself was much more than a blip for the wealthy. Those in the highest bracket are now paying 29.6% on pass through income which is how they have tailored most of their income. That means their rate has dropped from 39.6 to 29.6 which is way more than a blip. 

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mchookem

mchookem 16516

Posted
Posted
10 minutes ago, FondrenRoad said:

Trump raised my taxes. Need SALT deductions back. 

Looking at rate comparisons is barely relevant. Determining what is taxable income in the first place is where taxes actually go up and down. 

yep. like everything else, a faux boogeyman. 

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Surly Bevo

Surly Bevo 25505

Posted
Posted (edited)

We were always America, full of the same mix of genius and stupidity, compassion and evil, logic and lunacy that we always have been.  

We just don't have a cunt at the helm stoking the flames of the latter of all those traits any longer.

Edited by Surly Bevo
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Brisketexan

Brisketexan 105569

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Posted
Just now, Surly Bevo said:

We were always America, full of the same mix of genius and stupidity, compassion and evil, logic and lunacy that we always have been.  

We just don't have a cunt at the helm any longer.

And this.  Remember, America is super-shitty, full of super-shitty people, who can and will regularly take control of things.  We have some serious darkness within our nation.  The cancer isn't gone, not even close.  The cancer has been part of our being since our beginning.  Sometimes, it overwhelms everything else.

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Goredho

Goredho 17510

Posted
Posted
26 minutes ago, Brisketexan said:

We ain't there yet.....but for the first time in what seems like forever....we have the car pointed in the right direction.

 

98d7adcc-ce1a-488d-b8b9-49dc00e8b455-Bid

 

Who the fuck are you and what the fuck did you do to Brisketexan?!!

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Guest Lobo

Guest Lobo

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Posted
1 hour ago, Brew said:

Those are the tax rates, but you missed the 20% QBI deductions and the 21% corporate rates. The QBI deduction itself was much more than a blip for the wealthy. Those in the highest bracket are now paying 29.6% on pass through income which is how they have tailored most of their income. That means their rate has dropped from 39.6 to 29.6 which is way more than a blip. 

Dude, I get the QBI.  We also manipulate the way our carried interest gets treated each year by slicing and dicing it between bonus and equity back into the deal/firm.  It's not possible for us to exhaust how everybody benefits/suffers from myriad tax laws on a single thread nor would I ever give enough of a shit to do so.  

Here's what I can say...90% of Trump voters will never know a single dollar taxed at that highest rate and 98% of them will never know the phase-out of QBI.  I needed a quick chart to show how taxes haven't changed nearly as drastically in the last 4 years as they did in eras past.  I'm honestly surprised more of them weren't demanding a complete repeal of estate taxes since 99.9% of them will never accumulate an estate of that size.  

Again, doesn't matter...as many Trumpers predicted...my assets and business were seized by the socialist government earlier today as well as my firearm.  I am currently hiding out on UT's campus (that part is actually true) while I await indoctrination orders.  

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gmr548

gmr548 16635

Posted
Posted
We always were.
This is our concern, dude.

Yep. We’re still the same state standing on the edge of failure, not so slowly sliding into third world levels of inequality. Taking a breath and appreciating the moment is one thing but don’t spike the football.
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Brew

Brew 3049

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Posted
49 minutes ago, Lobo said:

Dude, I get the QBI.  We also manipulate the way our carried interest gets treated each year by slicing and dicing it between bonus and equity back into the deal/firm.  It's not possible for us to exhaust how everybody benefits/suffers from myriad tax laws on a single thread nor would I ever give enough of a shit to do so.  

Here's what I can say...90% of Trump voters will never know a single dollar taxed at that highest rate and 98% of them will never know the phase-out of QBI.  I needed a quick chart to show how taxes haven't changed nearly as drastically in the last 4 years as they did in eras past.  I'm honestly surprised more of them weren't demanding a complete repeal of estate taxes since 99.9% of them will never accumulate an estate of that size.  

Again, doesn't matter...as many Trumpers predicted...my assets and business were seized by the socialist government earlier today as well as my firearm.  I am currently hiding out on UT's campus (that part is actually true) while I await indoctrination orders.  

But your quick chart leaves out the impact of QBI and the fact that most in the highest bracket aren’t actually paying that level of tax. It is the problem with people making quick charts when it comes to tax laws because you saying it was a blip to high income earners is a complete misrepresentation of the impact it had. A guy pulling down $2M in pass through income has dropped his tax bill $200k+ which is more than a blip even though your chart only shows a slight reduction.

Using actual rates is a fool’s argument because there is no context to anything else in the tax law at that time. You need to look at effective rates which account for all circumstances.

We can debate tax law in another thread, there are plenty of them to pick from.

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Brew

Brew 3049

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Posted
22 minutes ago, gmr548 said:


You know how I know you have no understanding of tax policy in the United States?

No one understands including the people paid to understand it. Tax law is a convoluted pile of shit at this point that makes no sense and regularly contradicts itself. It has been exacerbated in the last couple of years. 

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fattyflattie

fattyflattie 4639

Posted
Posted
7 minutes ago, Brew said:

But your quick chart leaves out the impact of QBI and the fact that most in the highest bracket aren’t actually paying that level of tax. It is the problem with people making quick charts when it comes to tax laws because you saying it was a blip to high income earners is a complete misrepresentation of the impact it had. A guy pulling down $2M in pass through income has dropped his tax bill $200k+ which is more than a blip even though your chart only shows a slight reduction.

Using actual rates is a fool’s argument because there is no context to anything else in the tax law at that time. You need to look at effective rates which account for all circumstances.

We can debate tax law in another thread, there are plenty of them to pick from.

Like he said, 99.99% of pubs won’t be affected. Never known a pub to vote with their wallet, me. 

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