I thought the reconciliation bill was supposed to be completely paid for? Yet over the next 10 years it will increase the deficit by 367 billion. Also Biden said the tax increases wouldn’t hurt anyone who doesn’t make over 400k. Yet taxing stock buybacks and eliminating excess business losses will impact me. Maybe the next bill we tax the politicians

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You just found out that politicians lie?

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What I hate too is when they discuss taxing the rich. They talk like Elon Musk and Jeff Bezos. Then their tax bills do nothing to target super wealthy Americans but rather people with income over $400k, which don’t get me wrong is still a lot. But no where close to who they describe as the real problem

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Most (or all) of the difference is based on how much is assumed to be captured through increased IRS enforcement.

Generally people have significantly underestimated what money dedicated to the IRS can produce so I suspect Biden’s numbers are probably likely to be conservative and the CBOs incredibly conservative especially in light of how poorly funded the IRS is right now. YMMV.

The stock buyback tax is dumb, won’t disagree with that.

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You’re ignoring the increased tax revenue captured through IRS funding. That brings the 10 year deficit increase to $160 million, by the most conservative estimates.

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Don’t forget eliminating the SALT cap which actually reduces the amount of fed tax the wealthy pay.

Don’t forget that he’s pouring gasoline on the inflation inferno( worst in 30 years). We need to start being honest with ourselves in identifying problems, can’t keep saying they don’t exist and have policy that is literally the opposite of what we should be doing to fix the immediate problems.

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What will be the inhand for this with proper taxation?

P.s: want to compare with another but fishbowl don't allow to add 2 images
I just shared that too a while ago.

Please help i think the gratuity is extra

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How much money do you have saved up?😳

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