boberic Loc: Quiet Corner, Connecticut. Ex long Islander

Biden has said that he will raise taxes ONLY for those earning 400,000 and up. This is a flat out lie. He has promised to end Trump's executive actions regarding the economy. This will result in about a 2,000 dollar increase in taxes for the average familly. The democrat platform raises taxes on social security. And imposes a 3% annual tax based upon the value of private houses. That would e a 7500 tax each year , as the average house value is 250,000. So, if you recieve social security, own a home or are an aerage income earner, if Biden is elected your taxes will go up. No matter what you earn

Fotoartist Loc: Detroit, Michigan

Those people who put Biden ahead in the polls must be saying, tax me more. I don't get it. I must be out of touch. All I know is I work too hard for my money to flush it down a rathole.

JamesCurran Loc: Trenton ,NJ

And I never understood electing people who think tax money is "flushed down a rat hole". That explained why there's so much corruption amongst republican politicians --- Their constituents don't expect a return on their taxes, so they might as well give it away to their cronies.

JamesCurran Loc: Trenton ,NJ

You are VERY misinformed.

You are quite the literalist. Biden said he'll repeal the Trump Tax Cut (which was a law, not an Executive Order), but that was merely shorthand for "I'm going to propose a completely new tax bill which removes many of the cuts to those making over 400,000, while leaving those making less the same". That's not as catchy.

And the "2,000 dollar [cut] in taxes for the average family" Trump brags about is deceptive -- because most people don't realize what "average family means". If, in a group of 500 families, if one family gets a $1,000,000 tax cut, and the rest got nothing, than the "average family" got $2000 --- and that's about what happened-- a lot of very rich got huge tax cuts, while the not so rich got nothing, and it averaged out to $2000.

BTW, with an Executive Order a president can, at best, shift some money around between line items on the budget, but cannot affect the taxes owed by anyone.



All of that is complete nonsense. Here is a copy of the 2020 DNC platform. Please cite the sections where it states these hikes on Social Security tax, or property tax. They don't exist. (It actually say how property taxes are a bad way to raise funds)

https://www.demconvention.com/wp-content/uploads/2020/08/2020-07-31-Democratic-Party-Platform-For-Distribution.pdf

Shutterbug1697 Loc: Northeast

Unless you are earning more than the current cap on Social Security, those taxes won't be going up for you in 2021. The 2020 income cap is $137,700. The built in increase for the 2021 will cap out at $141,900.

So even without Vice President Joe Biden winning the election, taxes on income for Social Security will go up a little next year, like it or not.

Currently if your normal income bracket is above that, you don't get taxed on the income above those caps.

If as you have previously indicated, you're going to retire, then you don't need to worry about an increase in taxes for Social Security.

Personally, I believe that there never should have been a cap on earnings for Social Security in the first place.

National Park

Wrong, but speaking of taxes, when do you think Trump is going to be charged with tax evasion? $750!!!!

DaveO Loc: Northeast CT

Maybe the debt will be paid for by Mexico.

Yeah, we'll cut spending in lieu of raising taxes.

National Park

Yes, you are out of touch. You are flushing your money down a rathole as long as Trump is President. You are also flushing your vote down a rathole when you vote for Trump.

Bob Smith Loc: Banjarmasin

Maybe Biden can tax billionaires who only pay $750 a year tax

Curtis_Lowe Loc: Georgia

This is the kind of reply from someone who does not value the investment that "Rich" people or companies make. The investment that generates jobs and opportunities for people. They, the rich invest their money and sometimes the "win" (make money) and sometimes they "loose" (loose money/investment) but they generally give others opportunity regardless. This is why we as a country should value investment, the government makes investments in roads and bridges and such but not in business except through the tax system as an incentive.
When the government does make an investment (think Solyndra here or others) it is picking winners and losers and does so based on political favor, think Russia or China, this is the worst kind of thing.
Oh and President Trump gives his entire salary away to the government or charity does he not?

DaveO Loc: Northeast CT

"...Trump gives his entire salary away to the government or charity does he not?"

Sounds like we have believers in indulgences. Give a little so it's okay to take a lot. LOL!

aphelps Loc: Central Ohio

You are conveniently ignoring his large tax loss carry foward from prior years which reduced his tax bill.

DaveO Loc: Northeast CT

Sounds like a perpetual motion convenience, but then again, none of us have any factual basis for any comments.

aphelps Loc: Central Ohio

Biden's plan to tax the wealthy will prove to be counter-productive. In order to pay for democrats spending he would have to HEAVILY tax the wealthy and corporations. This would result in far fewer new jobs being created. Remember, politicians don't create jobs, healthy, growing businesses do.

JamesCurran Loc: Trenton ,NJ

Presently, NYS is abiding by the Watergat-era DOJ letter saying a sitting president cannot be arrested. Hence, he will be arrested on Jan 22, 2021 (I would say he'd be met with marshals when he stepped off the plane in Florida, but they may do it in Washington, because extradiction would be easier(*))

That's assuming that he loses. If he wins, that NYS will probably decide that they cannot wait another four years, and have him arrested on Nov 4th.


(*) This also assumes he's still in office on Jan 21st. I think it's highly probable that if he loses, sometime in December, he takes a "diplomatic trip" to Dubai (or someother country without an extradiction treaty with the US), and while there, resign, and live out his life in the villa there.