Biden's Tax Plans.........

[ToraToraTora]

https://www.marketwatch.com/story/10-biden-tax-proposals-that-will-sail-through-a-democratic-controlled-senate-and-how-to-prepare-for-them-11609958777
Going to get a lot more expensive in the US!

[jim360]

A price worth paying for having a President who respects the office he holds, perhaps.

[ichkeria]

I’m not sure about “sail through”
The senate is 50-50 with a casting vote. The Democrats rely on the support of a couple of independents as well as having one or two quite conservative senators of their own.

[ToraToraTora]

well jim, you don't have to raise taxes to respect the office but I am assuming his voters were happy to pay more tax, obviously they knew what they were voting for. I'm interested to see if and how he tackles their 2 biggest problems; healthcare and gun ownership.

[Sunk]

Trump pledged in 2016 that he would pay off the deficit.

// When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday. //

https://www.washingtonexaminer.com/news/trumps-legacy-added-debt-one-term

When your man has splurged away $8 Trillion in 4 years, you are probably on dodgy ground to scaremonger.

[ToraToraTora]

no scaremongering here sunk me old china, they are the published plans.

[Sunk]

Tora,
Biden’s plans will cost $3.5 Trillion over 10 years.
Trump has just spent $8 Trillion in 4 years.

[ToraToraTora]

Yes but the people will be paying more taxes, that's the point.

[Mozz71]

Paying more taxes seems a small price to pay in exchange for a POTUS who cares more about his country and less about how much power he can grab.

[bhg481]

I've got no aversion to tax so long as it's spent on the right things.

[douglas9401]

Some might say that with debt levels off the scale a country needs to increase the tax take.

[Untitled]

the tax cuts introduced by trump were not affordable they have significantly increased that country's deficit. The US government is also obviously going to need more money to cope with the fallout from Trump's disastrous handling of covid.

I am pleased that Biden won but like Obama he has inherited a country in poor shape from his predecessor.

[dave50]

Why anyone would vote for higher taxes I have never understood.

[ynnafymmi]

A bit like up here in Scotland.Sturgeon taxes all us workers in the rest of Scotland to give to her work-shy Weegie friends down in Glasgow.No wonder she gets voted in time and time again.Good thing we have England to bail us out every year.

[ToraToraTora]

bhg: "I've got no aversion to tax so long as it's spent on the right things." - essentially that means things you agree with.

[TonyV]

TTT don't think there will be any gun law changes, Americans see it as a right to carry arms. Isn't it written into the constitution? I find it amusing / distressing that you can go to Walmart, do your weekly shop and pick up a gun on your way to checkout.

[ToraToraTora]

"Good thing we have England to bail us out every year. " - has anyone told the wee un?

[ToraToraTora]

Tony, I agree nothing will change in gun law or health care, both of which are a disaster but it's political suicide to try and change them. No president however determined will ever get significant change through past even their own congressmen/senators.

[ynnafymmi]

She knows,Tora,she knows.If we get independence(in a generations time),she will be looking to Europe to bail us out.Fat chance.

[ToraToraTora]

the problem is the swivel eyed gun lobby who hang on to the 2nd amendment in a society that those that wrote it were not really envisaging. They wont be happy until every child is issued with the hand gun, an Uzi and a rocket launcher at birth, to be carried around at all times.

[ynnafymmi]

^Whats that got to do with your tax query?