Who would have thought he would do the same thing he did in his first term again?
Less than half of the voters, apparently.
Something tells me most of his voters have no idea what he did last time
They were all trying to figure out why Obama wasn’t in the oval office for 9/11
Also no idea what he’s doing now
Trump: “Hannibal Lecter is a fine man.” jerks off two dicks
Trump supporters: “😍😍 He’s gonna fix the economy and make America great again!”
Even if we’re just talking eggs, they’re up about $1.50 per dozen in my area and Der Blöderfürher has only been in office three days.
eggs are almost 6 dollars a dozen here, they were around $2 a few weeks ago. it’s crazy
Well at least that war over in Ukraine is over!
Day 1!
They raise taxes on the middle class to make people hate taxes so they vote for smaller government.
They’ve been doing it since the 80s. God how I wish our politics weren’t in a death spiral. It’s so boring.
Educate the next generation. My kids demonize taxes based off a short video but then get a quick education. Taxes aren’t the devil, the rich dudes who aren’t paying their share are causing your burden to be higher. Billionaires aren’t always the enemy, but look at Amazon wages and it’s an easy way to show them that hoarded wealth generally comes from keeping others down. It takes a bit longer, but elders are the only entity that can counter the bullshit they’re being fed.
Billionaires are always the enemy.
You do not get to even 1 billion without causing massive indirect harm to a shitload of people. No one, no one, every, has put in enough to “earn” 1 billion. The vast majority of people will work their entire lives and be lucky to have a gross total income of a few million. Thats Gross, not worth or wealth, thats, “I took money in and spent it to live.”
I would argue anyone worth much over 10 million is in the same harm causing boat as billionaires.
Billionaires aren’t always the enemy
Uh, yeah they are
wouldn’t be billionaires if they were allies
The problem with taxing the super rich is that their weath isn’t in the form of taxable income, it’s mostly in the form of stock, and doesn’t become cash until it is sold. Selling stock, especially if the CEO is the selling lots of stock, causes the value of the stock to decrease, so they don’t like to sell it at all. What billionaires do to pay for their day to day expenses is to take out loans, using their stock as collateral on that loan. No bank is going to deny a loan backed by Tesla stock, or space-x stock… that’s guaranteed interest for them with basically no risk. The value of the stock them increases over time, more than the interest payments do, and then they pay it back, coming out financially better than they were when they took out the loan. The only way that billionaires could really be taxed is if the government was to tax them on the value of all stock that is held at the start of the tax year, and not just when it is sold. Some countries do this, I don’t think (?) the USA does.
Nobody in the US knows how marginal rates and progressive tax brackets work, you can sell the fools on anything and just blame the IRS because it’s the most convenient incarnation of what people hate.
It makes me angry when I see people talk about how getting a raise would be bad for them because it would put them in a new tax bracket.
Like dude, no, it won’t be worse. Thats not how that works.
It’s by design… the same group of people think that tarriffs are paid by foreign companies. Keeping voters ignorant is a key part of their strategy. Remember that trump once said “I love the poorly educated”
I mean even this post got it wrong, your taxes go up until about $1 mil, not $300k.
But the cuts could start benefiting you at the $300k bracket relative to before. What’s the actual change?
Because the way marginal taxation works if you make 300k you paid all those extra brackets tax hikes before you got to 300k and started seeing the lower marginal rate.
So to see your impact you add every changed number from the left up to your income, that’s your impact.
Yes it takes a positive turn at 300k, but you’re already deep in the whole and don’t turn to actually positive until around the final bracket.
I know how marginal taxes work and you didn’t address my question. If the tax on above $300k is less than it was before you are paying less. What is this about something changing at $1 million?
I think what they’re saying (I didn’t look at the data yet) is that while the rate at 300k is lower, that lower rate doesn’t make up for the higher rates that individual will have paid until that point. So for the individual in question, the net positive doesn’t happen until 1m.
Ah yeah. Might just be a bad graph since it says “by income group” and then breaks down by the actual bracket. Not sure exactly which it means still but I think they’re right
Why should it be better over $300k though? Thats a tiny tiny percentage of the population who very likely already has more money than they would need for the rest of their lives if they wuit working today, reguardless of age.
People should not be allowed to hoard wealth like that.
This graph should be savings early on, which still benefit those people, because, as you mentioned, it adds them up, but at some point, it gets worse.
Incentivise “spread the wealth”. Lift everyone up, because by 300k, you are good, let others get more.
Yeah I definitely wasn’t advocating for that, was just explaining how that worked with marginal tax rates.
It says average cut, so I think it’s for the average person of each bracket. So it’s talking about folks making $600k maybe? Just guessing.
No! Noooo! I didn’t push your child and spit on you! The corrupt IRS fucked up on your taxes.
This is nothing, wait until the Trump tariffs kick in and everything gets more expensive.
Can’t wait for shitty plyboard furniture to be marked up 489% because we got to import them from China/Vietnam or other SE countries.
Like seriously, what even gets made in the US that is reasonably affordable and is of a decent quality.
guns
While true, US guns aren’t even on top anymore. Canik has become an unbelievably popular brand in recent years, and they’re headquartered in Turkey.
damn I was unaware. guess I haven’t done any gun shopping in a hot second (although that may change soon considering the way everything seems to be going in America lol)
deleted by creator
The price at which it becomes a felony won’t charge. You’d have to do it in organized groups like the raids in LA a number of years ago.
…a number of years ago? 😅
April 26th, 1992, there was a riot on the streets, tell me, where were you?
I think his point was that the LA shoplifting raids are current. And apparently not working as well as they used to.
How much does it cost to steal?
Depends if you’re rich and white, or not.
Where can we read it? I am having trouble finding the text.
No guys it’s cool it’ll trickle down any day now just wait
Picture is incorrect. The bottom glass on the right should be cracking.
Bottom Glass on the Left. Cracking and potentially about to make it all topple over.
Yes.
I can’t wait for the trickle down Bukkake. Any minute now!
Arigato gozaimasu billionaire chan
You can 100% safely bet that every billionaire has heard that from a childs voice.
Well, something is trickling down but for some reason it smells like piss.
LOL Bush Jr did the same thing as did the previous Republican president. This is par for the course.
LOL Bush Jr did the same thing as did the previous Republican president. This is par for the course.
Clown Country
Just work harder and become a billionaire smh
/s
https://www.washingtonpost.com/business/2024/01/12/trump-tax-cuts-2024/
Isn’t their source of data characterized as “left-leaning”? How valid is this information?
Institute on Taxation and Economic Policy (ITEP)
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
Yeah, google ITEP and see that they are classified as “left leaning”. I feel like this lemmy instance is all hard-left at this point.
I don’t think I can afford to prop up the wealthy any more than I already am doing now. Guess I’ll need to get a fourth job to help pay off Musk and company tax relief.
Work those bootstraps
Is there a source on this? Not that I don’t believe it, I’m sure this is exactly what’s going to happen, but if I bring it up in conversation saying “I saw it in a meme” will deflate the argument.
Institute on Taxation and Economic Policy (ITEP)
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
just say I did my own research and anyone dumb enough to ask for a source in casual conversation will be satisfied.
Ugh, I hate it when people provide evidence for their claims! When someone tells me that Haitians are eating dogs, I just believe them if the conversation is casual enough
Woah, what a casual conversation! I will passively absorb this info and not question it at all, as that would make me dumb (DAE dumb is when skepticism?). Good thing I am immune to propoganda! /clueless
You’re getting down voted cuz you’re rude but honestly yeah. If someone asks you in person for a source you just say, yes I have a source it’s the Trump tax plan that he announced. It’s not a secret
That’s on top of the increase starting now as well.
The tax plan of 2017 cut taxes for everyone, but starting last year they went up for anyone not making 300k or more.
