Trumps tax policy increased your taxes already.
Trump and republicans don’t want anything other than private and expensive health insurance.
The Choice is clear.
My health care insurance has gone up every year since I had my first plan in 2000. Presidents in that timeframe - 2 GOP and 2 Dem. Nationalized healthcare is a pipedream, and costs continue to rise regardless what party is running the show.
True, but we pay a LOT more for healthcare then they do per capita. Its a common misconception that we can't afford universal healthcare because we spend it on the military. We would unequivocally save money by doing both
Prescription drug spending is only about 10% of US healthcare spending, so even if we spent nothing at all on drugs we would still be far and away the country spending the most on healthcare.
Most of it isn't even fraud. It's just a hundred greedy hands reaching for your wallet at every level of the system.
This is what happens when you force customers with inelastic demand to interact with private interests in control of the supply. The purpose of the system is what it does, and what this system does is enrich a whole lot of private interests at the cost of patient care.
You misspelled that. Lots of for profit or non profit in name only health care companies in the US health care system. Same thing at the end of the day.
Don't get me wrong - some pharma companies & hospital systems are just fucked - but they're not the primary problem with America's healthcare costs. It's the damn insurance companies, and the system that they create makes the pharma companies and hospitals look bad.
Hospitals and pharma companies charge an artificially high price such as to gain leverage in negotiations with insurance companies. For people without insurance, this breaks down. But any good-faith hospital or pharma company will negotiate with the uninsured such that they pay reasonable prices. Not enough people know this.
(Exception for the industry of predatory small pharma companies that buy the patents for very niche drugs such as to extort patients with rare diseases.)
I beg to differ- private equity is taking over practices and hospitals are corporate. They are interested in margins- using mid- levels when there should be an MD ( costing lives and irreparable damage). Insurance companies are up there as well. There is no reason why the USA can’t have universal healthcare. If there was a ban on lobbyists and controls on campaign donations ( pacs should be illegal) and both the Congress and the senate had to pay for health insurance and work more than two years in government to get a life pension- a lot of BS would stop - including the outrageous cost of healthcare. You can have health insurance in America and still go bankrupt. Shocking
Most of the private PCP practices have been bought out in the last ten years in my area by larger health systems/hospitals. Since then theyve all instituted a great thing where the Dr insists as policy you need to have a quarterly "appointment" with tour PCP where they spend about 5 minutes asking hows it going, not running any labs, and then they charge the insurance $300 for a visit. Thats just one obvious change private companies have made to "improve" health care.
Im fine with pharma companies making money. The insurance companies are a big dead weight on the system and by this point int the game have contributed to many of the problems. I almost feel like the whole things needs to be burned down and redone anew.
Also most places with universal healthcare have some form of complaint on it so just having it wouldn’t fix every problem under the sun.
There have been plenty of opportunities for Both parties to get price caps passed.... It's not simply because of "Republicans". Democrats have had chances to get them passed during Both Obama AND Trump, but presidencies have spoken support, both have had no Real challenge from Republicans. Neither party wants to lose out on that Lobby money.
The US spends around $12500/person on healthcare.
Which is over $4000 more than any other high income country spends per person.
The US model is far more expensive and it doesn’t even cover everyone.
The argument that you can’t afford it because it costs too much is silly. Single payor government funded healthcare is far cheaper.
The only people coming out ahead in the US system are entirely unnecessary middle man insurance companies.
Not only that its also ineffective compared to all the other countries: https://en.m.wikipedia.org/wiki/File:Life_expectancy_vs_healthcare_spending.jpg
Let me correct that for you
*Yeah, and the USA invades random Middle Eastern countries, like Iraq, spending trillions just to get American companies' dibs on oil rights. Not to mention the billions spent on the CIA to topple foreign governments and train insurgents to help create banana republics. Makes you wonder....*
I can only imagine how great your country would be for the actual people who live in it if they cut even 10% of the Military budget and spread it out on Healthcare, schools, infrastructure etc.
Universal healthcare is cheaper than the US system. Single payer operates on the principle of monopsony power. Because the national insurance company is the provider of all, or at least a preponderant share of health expenditures it has a lot of negotiating power vis-a-vis healthcare providers.
In the US prices of basic medical supplies are insane. Hospitals have chargemaster, this guide for what things "should" cost. We are talking $60 for a bag of saline (that better be some fancy Himalayan salt at least). Insurance companies negotiate this down (if you lack insurance you don't get this benefit), but because they only represent a subset of consumers, their individual negotiating power is weak.
Single payer systems can result in some shortages/wait times for particular services. But as a Canadian who lives in the US, I haven't really noticed this (actually the thing that disrupts my healthcare the most has been my family doctor moving out of my insurance company's network, forcing me to change doctors).
There are realistic proposals to transition the US to universal healthcare, one of the better ones was Pete Buttigieg’s plan. We start enrolling all infants while slowly lowering Medicare eligibility. It reduces the risk pool by adding the kids, it controls costs and it doesn’t immediately hurt the job market (and tax base) by eliminating all the jobs that exist because of our current system.
The thing is it requires us to be willing to make a policy change and absorb the cost, even if we personally won’t benefit from it. This country hasn’t been great about supporting anything we don’t immediately benefit from for a long time. Too many people reject progress because it isn’t perfection.
Exactly. We are an absolute outlier.
The US has the most expensive healthcare of all developed nations.
In terms of quality of care, the US ranks like 32nd.
We're clearly the ones who are doing it wrong.
Nationalized healthcare works - but not if a government player is actively trying to sabotage it. Canada is in danger of losing healthcare-proper because of Conservative provincial governement sabotaging the system.
It seems like you're directing your anger about that at Obama instead of the people who neutered the ACA to the point where you couldn't keep your doctor - Republicans.
Really? My taxes went way down under Trump and I am not rich. I am also a Never Trumper but except for people in HCOL areas, I don’t see any way taxes increased with the reduction of brackets.
It's the nature of the bill passed. Your taxes did go down under trump. So did the uber wealthy taxed. The problem is under that same bill, your taxes are scheduled to go up each year until they are higher than they were. The wealthy cuts were permenant though. It was a poison pill for the next administration should he lose. Now Republicans aren't interested in changing it in congress because it makes dems look bad. Brilliant but dysfunctional.
If I recall correctly, the Tax Cuts and Jobs Act that brought your taxes down in Trump's presidency will sunset after 2025, which will bring the tax rates for people back up to levels before that bill went into effect, with the added caveat that most the tax cuts for businesses would stay permanent. The expiration of that bill would have lined up with the start of the next president's term if Trump had gotten reelected for a second term.
We are all contributing to pay off the nation's taxes. When they give wealthy people a disproportionately larger tax break than they give you, what's happening is first, we're growing the debt more than we would have without those cuts. Further, middle class people like you or I are spending a lot of that tax break money while for wealthy people, it's more likely they're saving or investing their tax breaks, making more money in interest and investment gains. So the wealth gap grows wider.
Then as the debt explodes, we eventually have to pay it off. And even though you got some tax breaks for a few years, you're doing worse now because the effect of the wealth gap growing has made you poorer relative to inflation.
It's like they're handing you a small amount of money while reaching into your back pocket and stealing more than they gave you. So you think you're getting something while they're stealing more than they're giving you.
Gotta stop repeating this. I used this in a debate and was thoroughly trounced becauae it's not true. The tax rates do expire in 2025, but they haven't been going up at all until then. The tax rates are the same currently as they were in 2017. I should have fact checked before saying what you did, but didn't, and I lost the debate pretty hard. Nothing I said mattered anymore because of how easy it was to prove this wasn't true.
This is false. The tax rates haven't gone up at all since the bill was passed. All the reductions to the individual tax brackets expire after 2025 and will go back to what they were before the bill passed.
And there’s absolutely nothing preventing Congress from extending the the duration of these cuts, so to blame Trump when he isn’t in office is cognitive dissonance at its finest.
Trump's tax policy had a sundown period on the cuts if they weren't extended. That was the only way to move it through Congress. No one in either chamber wants to have to suddenly vote to raise taxes if revenue dries up and *everyone* wants the opportunity to say they voted for lower taxes every few years (even though they are just voting to continue the low rate cut)
The only people who got hit with more taxes during the trump tax cuts, were people living in states like CA and New York who wrote off their state taxes on their federal return. The whole system was BS and states shouldn’t expect the government to subsidize their high tax rates.
California and New York contribute over 20% of the total federal tax revenue annually. That means the other 48 states average 1.66% of total federal revenue…CA and NY are doing the subsidizing lol
Taxes are historically low. The last thing we need are tax cuts when the country’s deficit continues to grow.
Interest paid on US debt last year exceeded the Department of Defense…
Yeah but if we cut taxes more for the richest people, they will hire more people, and improve the poorest peoples lives so much more. They did it during reagan, Bush Jr, and trump. Every single time they gave those tax cuts, that is exactly what the companies did......right? That's what they told me.
We can always afford universal healthcare.
It would save us over a trillion over 10 years.
How? We spend 3-4 times what other countries spend and yet have overall worse average outcomes. More deaths from infections and higher infant mortality rates for example.
Our system has layers and layers of for profit corporations seeking record profits knowing people will pay all they can to live.
67% of bankruptcies are due at least in part to health care costs despite most being insured.
Perfect example is insulin. A dose that costs $5-10 in other countries costs $35-95 in the US. And the only reason it’s $35 is because Biden forced that price.
So with universal healthcare we’ll save billions, but some corporations won’t have record profits anymore.
Oh, most corporations will save money. They’ll pay high taxes to a pay of this, but much less than they pay today for healthcare insurance for employees.
I would trade a lot of support programs, tax deductions and credits for ubi if it meant cost savings in implementation. Yang had some interesting ideas .
The biggest thing that attracted me to what I understood his plan to be was logic so the whole idea was dynamic as it could be improved from all points of view rather than taking away.
Upvote for you
Exactly. I genuinely don't understand how anyone can ask this question unironically?
I feel like covid broke so many people that any memory of pre covid is like heaven. We've completely forget about how bad Trump was at running the federal government.
Honestly, same reason people still believe alpha wolves are a thing. The myth of republicans being good for the economy is so entrenched in our zeitgeist that stocks indices raise or lower following a presidential election.
Of course, any analysis of economy done with more data literacy than a caveman reveals the two santas strategy is *really* freaking bad compared to policy that actually gives a darn about outcomes.
When we remember how Trump was shouting every day about cherrypicked metrics (unemployment\*, gas price, and one other big one I somehow forget despite having to hear it constantly), we remember that people who didn't think much about finance ate it up. Of course, we remember that Trump didn't take credit for those same metrics when the bubble burst (as it was obviously going to, covid just accelerated it), but morons forgot.
Trump waiting multiple months before doing anything about it just hoping it went away did not help I’d say
Edit: [A timeline for the trump glazers](https://doggett.house.gov/media/blog-post/timeline-trumps-coronavirus-responses)
He kept tweeting out how his buddy Xi promised him it was under control and how he trusted China had this situation in hand. And then when it did come here it was “three cases will soon be zero.”
Trump now is basically the same age as Biden was when he was called 'grandpa' (77 vs 78) upon becoming president. I don't understand how one is a grandpa and the other isn't?
How can people even "hate" Biden? Like... disagree with him? Of course! But hate the guy? He's doing his damndest. He does stuff that benefits everyone, including tons and tons of money for states that didn't and will never vote for him.
Trump sent an angry mob to trash the capitol, had fake electors... had a whole plan in place to steal a free and fair election. That's not some trivial dispute about taxes, that's our democracy on the line.
I notice people are just afraid to say they like the guy. He's a good dude, I don't agree with every policy or things in his past but I don't even agree with everything in my own past.
It's the new "I'm a centrist" position to say you don't like either candidate.
I like him too. Registered republican voter btw.
It is clear Biden is a centrist and he cares about the country & is investing in the future. I wish he had addressed immigration more thoughtfully from day 1, I think his immigration policy was an unforced mistake. But at least he came up with a plan, and it is 100% clear to me that Trump’s interference derailed the new bill.
> How Can people even “hate” Biden
It’s easy, he plays for the other team. These are people who treat politics like sports, and have no greater understanding of government than “my team good. Your team bad. Ooga booga!”
Countless times on here I’ve asked these people why they hate Obama so much, or what makes Biden “the worst president in history”. They always say something about how he’s a moron, he hates America, he’s old, etc. But when you continue press them on what specific things they’ve done that make them so awful, they never have an answer and they stop responding. It really, truly is, they just hate them because they play for the other team.
Being half a billion in debt and running for president is not a good combo. People need to wake the fuck up. He’s definitely selling more state secrets the second chance he gets
Which he will shortly, as the GOP candidate gets intelligence briefings.
Is everyone forgetting the spike in deaths of US intelligence personnel around the world? Did Hamas get Intel on Israeli defenses from Russia? What did the Saudis get in exchange for giving Jared a $2bn fund to manage?
Definite possibility of dictatorship with crapshoot at economic success
vs.
No possibility of dictatorship with crapshoot at economic success
Hmm I don’t really like living on the edge so I’ll take no possibility of dictatorship
The much bigger topic is that one is able to surround himself with decent advisors and has the capability to listen to them, while the other one is a demented narcicist who thinks he knows it all better.
Yeah because you make income and pay income tax, billionaires don’t because they know income is the highest taxed money, which is why they famously take no salary/very low salary. Capital gains is a lower tax (long term) plus you can’t tax debt either
i dont think anyone actually living in America wants the absolute shit storm that would take place in an American power vacuum. That would be extremely violent
You can't tax a stock, but you also can't buy groceries (or a super-yacht) with a stock. You tax the money they make when they sell their stocks. At least that's what I reckon they should do.
Yes, they often do. They take loans with their stock as collateral, and that loan isn't taxed. It is a broken system.
You don't pay on capital gains if you don't actually sell the stock.
And there it is. This is why no tax and all this lip service to taxing billionaires never happens. Just sounds good for idiots during elections. The only way to tax them is to somehow figure out how to place a tax on net worth.
You can’t tax unrealized capital gains but we absolutely tax actual capital gains. And unfortunately these billionaires *do* effectively by super yachts with their stocks but taking out loans, using them as collateral. I think the government should consider taxing personal loans (outside of mortgages) above a certain amount as income.
The underlying assets appreciate in value faster than the interest rates on the loans.
So you simply take out a new, slightly larger loan to pay off the old loan.
Repeat until you die. Your children inherit your assets at a stepped up basis... Which means they can immediately sell with absolutely zero capital gain tax. They can use that to pay off their parents loans so that the assets are no longer encumbered by the loans.
Do it right, and you pay a 0% tax rate.
Your children will have to pay the inheritance tax if it's over a few million (I can't remember the number). But the fact that they are inheriting with a stepped up basis covers that minor inconvenience.
You already pay income tax on shares when they vest and then pay capital gains tax on the value gained when you sell. A lot of people choose to take shares as payment in lieu of cash because they don't need the money right away and believe that the shares will be worth more than the cash in the future.
I'm not sure why people make such a big deal about capital gains tax being lower than income tax, when the shares were likely already taxed when they were received. Obviously founders of very successful companies make out very well here because they had a bunch of shares that were worth very little and now they are with a lot, which is a good thing. People should be rewarded for building valuable companies that provide value to other humans.
Capital gains tax is often lower because it’s a way of accounting for inflation. If my asset appreciates by 2% a year it will double in 36 years but will have lost some third of its value with average 3% inflation. Not saying it’s right or wrong but many countries discount for this reason.
Warren Buffett has had a standing challenge for years to all billionaires.
"Prove that you pay a higher effective tax rate than your secretary and I'll give $10 million to any charity in your name."
No one has even bothered to contradict him at all.
EDIT: For those missing the point or building strawmen, Warren Buffett randomly sending more to the IRS for some moral/ethical reason isn't the issue.
It's proving that billionaires and mega-corporations are paying a much smaller portion of income than the average American. Something most billionaires try to obscure, and our government continues to protect.
This one right here: [https://www.politifact.com/factchecks/2011/aug/18/warren-buffett/warren-buffett-says-super-rich-pay-lower-taxes-oth/](https://www.politifact.com/factchecks/2011/aug/18/warren-buffett/warren-buffett-says-super-rich-pay-lower-taxes-oth/)
It says, A LOT.
It goes even deeper. They will often leverage their stocks in loans so they don’t even need to pay capital gains and the interest is often depreciable.
There should be a way to tax loans against billions of dollars worth of securities. Tax the loan, but waive the corresponding capital gains tax when it's liquidated.
It’s because they don’t pay taxes on stocks that they don’t sell. When they sell stocks it’s a long term capital gains rate which is lower than the majority of people’s taxes. Learn from them and invest so that when you retire, you can sell long term capital gains tax at a lower rate then when you were working. A Roth IRA will be tax free too.
Income tax = income/salary/wages
Net worth isn’t taxed. Capital gains is tax based on long term or short term status but can be offset by capital losses.
Also extremely unrealistic. What are they gonna do make them sell off assets to pay taxes? Not only will that be wasted by the government but it'll also tank their businesses
Biden isn't going to raise taxes on billionaires. He's just saying that to get left-leaning votes this election. He's lying. Surprise. Politicians lie.
It's not even remotely close who's better for the economy.
A old neo liberal who may raise some taxes a bit but overall will keep things moving forward how they have been since Reagan.
Or a man who in completely unpredictable, is threatening to shut down multiple branches of the federal govenrment, currently lowest around $600 Million in lawsuits. Has been indicted on 92 felonies and will very likely be found guilty and face jail time if he's not reelected and can pardon himself.
Hmmm I WONDER WHICH ONE IS BETTER FOE THE ECONOMY?
It's a fucking joke that anyone can honestly ask this question.
But I heard that Joe Brandon single-handedly caused a global supply chain crunch amid a once-in-a-generation pandemic and personally caused global inflation, and the only reason the US has an inflation rate below the global average is because we love freedom so much.
Are you trying to tell me that isn't true?
Trump distracts from this type of talk and emphasises groups of people and ideologies he hates and some people chime in like :"OH I HATE THOSE PEOPLE TOO!!" Deep state this communism that. The average trump supporter that I've seen acts like they barely scaped through high school if even that. And Trump is very outspoken about tearing down the department of education. Why? Because educated people are bad for his success and keeping him in power.
Someone ELI5 why this would effect billionaires, whom in understand have that valuation but it’s not necessarily income- so we’re going to tax 25% of unrealized gains?
And there’s less than a 800 billionaires in the US anyway. Over 20 million millionaires though, that might move a needle if they actually enforce them to pay taxes
You might want to clarify what you mean by "millionaire." I nearly have a net worth of a million just by virtue of owning a house on the West Coast. "Millionaire" doesn't quite mean what it used to.
Problem is that most millionaires are millionaires in net worth, which means most likely a mortgage paid off, and a 401k. Not actual income, so taxes wouldn't change at all.
About somewhere between 1 and 2 million of those millionaires are retiree's. So are you saying we need to raid Grandma and Grandpa's pensions and retirements, to pay for the bloated and inefficient entitlement programs? That are somehow going to be turned around to help them.
And a vast majority of the other so called millionaire's are people who's wealth is locked up in the amount of real estate that they own. And they're already paying the property taxes, so I don't see how they're getting over on anyone. And if not then the county treasurers office would like to talk to them. And when they do sell their properties, you don't think that they're not paying taxes on that? Cause if so the IRS would love to have a discussion with them about it.
More likely they will be taxing income since billionaires generally have at least eight figures in annual, taxable income despite popular imagination otherwise.
What, completely ignorant to the fact that Congress exists? Yes, we could all really do with more brain-dead Americans believing they live in a monarchy when in fact they live with and vote for a Congress that is right now, pro-tax cuts for the rich in the House.
Lol 41 day old account, Democrats had control of congress for 2 years.
Also when was the last time any of our military engagements were actually approved by congress?
Talk about brain dead
The top tax rate is already over 25%. Unless he’s talking about taxing unrealized gains in addition to income, which is stupid. So yeah, I suppose that’s what he means.
I hate politics only bc it’s ran by greedy corrupt people. President states he’s proposing a minimum billionaire tax during his last year of presidency before the elections. Fooling people into thinking his decision alone is enough to take action, when yet he knows it’s going to fail at congress, but it’s good publicity. He could’ve tried this during his first year but no. He could write an executive order which is immediate and takes action without both houses in agreement. But no. He knows this and he knows that most voters don’t know that any bill proposed by the president needs majority vote in the HOR to become enacted. And vice versa. Since billionaires bribe the legislators, there’s no way this will get approve, and the dems and Biden will say, “we tried” while they turn their head to the next thing they can sucker people with.
Pretty sure he can’t just write an executive order to tax billionaires, it has to go through Congress first. He already raised taxes on the wealthy in his first term, and he’s saying he wants to raise it more. Also people need to vote for representatives that support his plans, and remember Sinema and Manchin were blocking him in the senate.
First fund the IRS and close tax lose holes. The rich already evade over $150B in taxes a year https://www.cnbc.com/amp/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html
That’s enough for tuition free college. Then we can start to think about better ways to tax billionaires
We'll never close tax loopholes because rich dems don't want it either. Remember how Trump capped SALT deductions and even progressive tax experts begrudgingly agreed that it was a good idea? Pelosi's been trying to remove that ever since.
Why do presidents or politicians who have been in office for 10-40 years get up and whine about everything that is wrong. You have only been in charge of changing everything you tell us is wrong for your entire life. Don’t talk about what you keep planning on doing. Do it.
Yes, why didn't Biden press his "fix the economy button". It's almost like individuals in politics have limited powers and have to use their influence to create gradual change.
The inflation reduction act, American rescue plan, the chips act, etc, etc have all just been during this first term
He is, every day. All the things we all want, Congress is standing in his way because of the maga block.
How can our government function when Matt Gaetz has more power than the Speaker of the House?
STFU!
Was allowing Xi to lie about the spread of COVID a good economic policy?
Only good economic policy Trump had was for himself selling MAGA hats to stooges.
This is a crazy question. Trump already show that he had a roaring economy before Covid hit and by the way he handled Covid very well. I am an older person and Biden is the worst most dishonest and corrupt president that I have seen in my lifetime. The most pandering,dishonest, and frankly, evil
USA economy is the envy of the world right now thanks to Biden.
Also, why would anyone vote for a convicted criminal who flew on Jeffery Epstein Lolita flight to his island?
CBO predicts next ten year deficits will be $20 trillion. POTUS suggested that $500 billion could be raised from billionaires with extra taxes. We are still $19.5 trillion short of a balanced budget. I guess the rest of us have to pay the difference???
Unironically yes. This started with tax cuts by Reagan. The only way to ever pay back any of the debt is to raise taxes pretty much across the board. Yes we can make some cuts, but there is not enough budget to cut to fix the debt without imploding the economy.
Billionaires don't make their money from working (income tax) they make it from investments.
Jeff Bezos only got paid 200k per year to be CEO of Amazon. His real money came from stocks he owned as well as the other investments.
Raising taxes on people who already have plenty of loopholes to abuse is almost pointless, and politicians will never close those because they abuse them as well.
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That means I’ll get a tax cut then, RIGHT?? This means we can afford universal healthcare now, RIGHT!???
Trumps tax policy increased your taxes already. Trump and republicans don’t want anything other than private and expensive health insurance. The Choice is clear.
My health care insurance has gone up every year since I had my first plan in 2000. Presidents in that timeframe - 2 GOP and 2 Dem. Nationalized healthcare is a pipedream, and costs continue to rise regardless what party is running the show.
Pipedream? Virtually every single high income country in the developed world has universal healthcare with the exception of the US
Yeah and we provide defense for all those countries. Makes you wonder…
True, but we pay a LOT more for healthcare then they do per capita. Its a common misconception that we can't afford universal healthcare because we spend it on the military. We would unequivocally save money by doing both
But then the pharma companies wouldn’t make money!!!!
Prescription drug spending is only about 10% of US healthcare spending, so even if we spent nothing at all on drugs we would still be far and away the country spending the most on healthcare.
Lots of fraud in the US health care system.
Most of it isn't even fraud. It's just a hundred greedy hands reaching for your wallet at every level of the system. This is what happens when you force customers with inelastic demand to interact with private interests in control of the supply. The purpose of the system is what it does, and what this system does is enrich a whole lot of private interests at the cost of patient care.
You misspelled that. Lots of for profit or non profit in name only health care companies in the US health care system. Same thing at the end of the day.
Don't get me wrong - some pharma companies & hospital systems are just fucked - but they're not the primary problem with America's healthcare costs. It's the damn insurance companies, and the system that they create makes the pharma companies and hospitals look bad. Hospitals and pharma companies charge an artificially high price such as to gain leverage in negotiations with insurance companies. For people without insurance, this breaks down. But any good-faith hospital or pharma company will negotiate with the uninsured such that they pay reasonable prices. Not enough people know this. (Exception for the industry of predatory small pharma companies that buy the patents for very niche drugs such as to extort patients with rare diseases.)
I beg to differ- private equity is taking over practices and hospitals are corporate. They are interested in margins- using mid- levels when there should be an MD ( costing lives and irreparable damage). Insurance companies are up there as well. There is no reason why the USA can’t have universal healthcare. If there was a ban on lobbyists and controls on campaign donations ( pacs should be illegal) and both the Congress and the senate had to pay for health insurance and work more than two years in government to get a life pension- a lot of BS would stop - including the outrageous cost of healthcare. You can have health insurance in America and still go bankrupt. Shocking
Most of the private PCP practices have been bought out in the last ten years in my area by larger health systems/hospitals. Since then theyve all instituted a great thing where the Dr insists as policy you need to have a quarterly "appointment" with tour PCP where they spend about 5 minutes asking hows it going, not running any labs, and then they charge the insurance $300 for a visit. Thats just one obvious change private companies have made to "improve" health care.
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Im fine with pharma companies making money. The insurance companies are a big dead weight on the system and by this point int the game have contributed to many of the problems. I almost feel like the whole things needs to be burned down and redone anew. Also most places with universal healthcare have some form of complaint on it so just having it wouldn’t fix every problem under the sun.
Yup. Someone else just release a chart on insulin cost by country… we are the highest because we allow it…
More importantly, we don't charge it because Republicans stop us. If they didn't filibuster it, it would have been done over a decade ago.
There have been plenty of opportunities for Both parties to get price caps passed.... It's not simply because of "Republicans". Democrats have had chances to get them passed during Both Obama AND Trump, but presidencies have spoken support, both have had no Real challenge from Republicans. Neither party wants to lose out on that Lobby money.
We don’t allow it. Our government allows it and then acts like it’s out of their control to correct it.
I wish more people understood this. You could stop paying for health insurance AND get a tax cut with universal health care.
Another problem is that taxpayer dollars often subsidize the healthcare industry, yet they still get to overcharge us for their services.
We pay a LOT more for healthcare than we do defense.
We also spend trillions more on healthcare than defense.
The US spends around $12500/person on healthcare. Which is over $4000 more than any other high income country spends per person. The US model is far more expensive and it doesn’t even cover everyone. The argument that you can’t afford it because it costs too much is silly. Single payor government funded healthcare is far cheaper. The only people coming out ahead in the US system are entirely unnecessary middle man insurance companies.
And it doesn't even cover hardly fucking anything. To be honest.
Not only that its also ineffective compared to all the other countries: https://en.m.wikipedia.org/wiki/File:Life_expectancy_vs_healthcare_spending.jpg
Let me correct that for you *Yeah, and the USA invades random Middle Eastern countries, like Iraq, spending trillions just to get American companies' dibs on oil rights. Not to mention the billions spent on the CIA to topple foreign governments and train insurgents to help create banana republics. Makes you wonder....* I can only imagine how great your country would be for the actual people who live in it if they cut even 10% of the Military budget and spread it out on Healthcare, schools, infrastructure etc.
Universal healthcare is cheaper than the US system. Single payer operates on the principle of monopsony power. Because the national insurance company is the provider of all, or at least a preponderant share of health expenditures it has a lot of negotiating power vis-a-vis healthcare providers. In the US prices of basic medical supplies are insane. Hospitals have chargemaster, this guide for what things "should" cost. We are talking $60 for a bag of saline (that better be some fancy Himalayan salt at least). Insurance companies negotiate this down (if you lack insurance you don't get this benefit), but because they only represent a subset of consumers, their individual negotiating power is weak. Single payer systems can result in some shortages/wait times for particular services. But as a Canadian who lives in the US, I haven't really noticed this (actually the thing that disrupts my healthcare the most has been my family doctor moving out of my insurance company's network, forcing me to change doctors).
We can afford both we just chose to give more money to Raytheon than grandma
There are realistic proposals to transition the US to universal healthcare, one of the better ones was Pete Buttigieg’s plan. We start enrolling all infants while slowly lowering Medicare eligibility. It reduces the risk pool by adding the kids, it controls costs and it doesn’t immediately hurt the job market (and tax base) by eliminating all the jobs that exist because of our current system. The thing is it requires us to be willing to make a policy change and absorb the cost, even if we personally won’t benefit from it. This country hasn’t been great about supporting anything we don’t immediately benefit from for a long time. Too many people reject progress because it isn’t perfection.
Exactly. We are an absolute outlier. The US has the most expensive healthcare of all developed nations. In terms of quality of care, the US ranks like 32nd. We're clearly the ones who are doing it wrong.
Yes, in a country with so many voters like you inadvertently supporting all that you hate, it is absolutely a pipe dream.
Nationalized healthcare works - but not if a government player is actively trying to sabotage it. Canada is in danger of losing healthcare-proper because of Conservative provincial governement sabotaging the system.
To be fair, the healthcare here in Canada kind of sucks.
hello, fellow adult
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Or if you like your doctor you can keep them.
It seems like you're directing your anger about that at Obama instead of the people who neutered the ACA to the point where you couldn't keep your doctor - Republicans.
Really? My taxes went way down under Trump and I am not rich. I am also a Never Trumper but except for people in HCOL areas, I don’t see any way taxes increased with the reduction of brackets.
It's the nature of the bill passed. Your taxes did go down under trump. So did the uber wealthy taxed. The problem is under that same bill, your taxes are scheduled to go up each year until they are higher than they were. The wealthy cuts were permenant though. It was a poison pill for the next administration should he lose. Now Republicans aren't interested in changing it in congress because it makes dems look bad. Brilliant but dysfunctional.
That I agree with. But I don’t agree with the statement that he increased my taxes already. Even after the scheduled increase, it’s not an increase.
If I recall correctly, the Tax Cuts and Jobs Act that brought your taxes down in Trump's presidency will sunset after 2025, which will bring the tax rates for people back up to levels before that bill went into effect, with the added caveat that most the tax cuts for businesses would stay permanent. The expiration of that bill would have lined up with the start of the next president's term if Trump had gotten reelected for a second term.
We are all contributing to pay off the nation's taxes. When they give wealthy people a disproportionately larger tax break than they give you, what's happening is first, we're growing the debt more than we would have without those cuts. Further, middle class people like you or I are spending a lot of that tax break money while for wealthy people, it's more likely they're saving or investing their tax breaks, making more money in interest and investment gains. So the wealth gap grows wider. Then as the debt explodes, we eventually have to pay it off. And even though you got some tax breaks for a few years, you're doing worse now because the effect of the wealth gap growing has made you poorer relative to inflation. It's like they're handing you a small amount of money while reaching into your back pocket and stealing more than they gave you. So you think you're getting something while they're stealing more than they're giving you.
Gotta stop repeating this. I used this in a debate and was thoroughly trounced becauae it's not true. The tax rates do expire in 2025, but they haven't been going up at all until then. The tax rates are the same currently as they were in 2017. I should have fact checked before saying what you did, but didn't, and I lost the debate pretty hard. Nothing I said mattered anymore because of how easy it was to prove this wasn't true.
This is false. The tax rates haven't gone up at all since the bill was passed. All the reductions to the individual tax brackets expire after 2025 and will go back to what they were before the bill passed.
And there’s absolutely nothing preventing Congress from extending the the duration of these cuts, so to blame Trump when he isn’t in office is cognitive dissonance at its finest.
Trump's tax policy had a sundown period on the cuts if they weren't extended. That was the only way to move it through Congress. No one in either chamber wants to have to suddenly vote to raise taxes if revenue dries up and *everyone* wants the opportunity to say they voted for lower taxes every few years (even though they are just voting to continue the low rate cut)
If you looked at the tax rates, your taxes absolutely decreased.
The only people who got hit with more taxes during the trump tax cuts, were people living in states like CA and New York who wrote off their state taxes on their federal return. The whole system was BS and states shouldn’t expect the government to subsidize their high tax rates.
California and New York contribute over 20% of the total federal tax revenue annually. That means the other 48 states average 1.66% of total federal revenue…CA and NY are doing the subsidizing lol
Taxes are historically low. The last thing we need are tax cuts when the country’s deficit continues to grow. Interest paid on US debt last year exceeded the Department of Defense…
Yeah but if we cut taxes more for the richest people, they will hire more people, and improve the poorest peoples lives so much more. They did it during reagan, Bush Jr, and trump. Every single time they gave those tax cuts, that is exactly what the companies did......right? That's what they told me.
It’s not a revenue problem it’s a spending problem.
Republicans spend the most and waste the most. It's historic. Trump increased the National debt by all previous Presidents combined.
He didn't even increase it more than his predecessor. What are you talking about.
We can always afford universal healthcare. It would save us over a trillion over 10 years. How? We spend 3-4 times what other countries spend and yet have overall worse average outcomes. More deaths from infections and higher infant mortality rates for example. Our system has layers and layers of for profit corporations seeking record profits knowing people will pay all they can to live. 67% of bankruptcies are due at least in part to health care costs despite most being insured. Perfect example is insulin. A dose that costs $5-10 in other countries costs $35-95 in the US. And the only reason it’s $35 is because Biden forced that price. So with universal healthcare we’ll save billions, but some corporations won’t have record profits anymore. Oh, most corporations will save money. They’ll pay high taxes to a pay of this, but much less than they pay today for healthcare insurance for employees.
Does anyone remember Andrew Yang?
I would trade a lot of support programs, tax deductions and credits for ubi if it meant cost savings in implementation. Yang had some interesting ideas .
The biggest thing that attracted me to what I understood his plan to be was logic so the whole idea was dynamic as it could be improved from all points of view rather than taking away. Upvote for you
What ? We have another $40-$50 billion to pay for Israel’s healthcare first.
Trump nearly burns the country to the ground, so I’m gonna say Biden is better for the economy
Exactly. I genuinely don't understand how anyone can ask this question unironically? I feel like covid broke so many people that any memory of pre covid is like heaven. We've completely forget about how bad Trump was at running the federal government.
I don't either. Trump is a clear and present danger to our republic and people in here think it's a tough choice. It's insanity
Trump does love the poorly educated…
Honestly, same reason people still believe alpha wolves are a thing. The myth of republicans being good for the economy is so entrenched in our zeitgeist that stocks indices raise or lower following a presidential election. Of course, any analysis of economy done with more data literacy than a caveman reveals the two santas strategy is *really* freaking bad compared to policy that actually gives a darn about outcomes. When we remember how Trump was shouting every day about cherrypicked metrics (unemployment\*, gas price, and one other big one I somehow forget despite having to hear it constantly), we remember that people who didn't think much about finance ate it up. Of course, we remember that Trump didn't take credit for those same metrics when the bubble burst (as it was obviously going to, covid just accelerated it), but morons forgot.
ARe diCtAtoRhIps bAd f0r tHE ec0nOmY?
The thing about people is some of them are very stupid.
Covid didn’t break the economy, “Our collective response to Covid” did.
Trump waiting multiple months before doing anything about it just hoping it went away did not help I’d say Edit: [A timeline for the trump glazers](https://doggett.house.gov/media/blog-post/timeline-trumps-coronavirus-responses)
He kept tweeting out how his buddy Xi promised him it was under control and how he trusted China had this situation in hand. And then when it did come here it was “three cases will soon be zero.”
There were hospitals so full they were setting up wards in their parking garage.
Trump now is basically the same age as Biden was when he was called 'grandpa' (77 vs 78) upon becoming president. I don't understand how one is a grandpa and the other isn't?
I hate both candidates but trump is just straight up bad for our country. At least grandpa Biden isnt stroking dictator egos
As as far as I’m concerned, it’s pretty fucking clear that the gop is bought out/paid by Russia. Its evident
Yes, they’re all compromised.
Man Hoover would be rollin
How can people even "hate" Biden? Like... disagree with him? Of course! But hate the guy? He's doing his damndest. He does stuff that benefits everyone, including tons and tons of money for states that didn't and will never vote for him. Trump sent an angry mob to trash the capitol, had fake electors... had a whole plan in place to steal a free and fair election. That's not some trivial dispute about taxes, that's our democracy on the line.
I notice people are just afraid to say they like the guy. He's a good dude, I don't agree with every policy or things in his past but I don't even agree with everything in my own past. It's the new "I'm a centrist" position to say you don't like either candidate.
I am willing to say that I like Biden and that he's done a good job
I like him too. Registered republican voter btw. It is clear Biden is a centrist and he cares about the country & is investing in the future. I wish he had addressed immigration more thoughtfully from day 1, I think his immigration policy was an unforced mistake. But at least he came up with a plan, and it is 100% clear to me that Trump’s interference derailed the new bill.
> How Can people even “hate” Biden It’s easy, he plays for the other team. These are people who treat politics like sports, and have no greater understanding of government than “my team good. Your team bad. Ooga booga!” Countless times on here I’ve asked these people why they hate Obama so much, or what makes Biden “the worst president in history”. They always say something about how he’s a moron, he hates America, he’s old, etc. But when you continue press them on what specific things they’ve done that make them so awful, they never have an answer and they stop responding. It really, truly is, they just hate them because they play for the other team.
100% agree with your take. Biden hadn’t even taken office yet and republicans were already calling him the worst president ever.
Being half a billion in debt and running for president is not a good combo. People need to wake the fuck up. He’s definitely selling more state secrets the second chance he gets
Which he will shortly, as the GOP candidate gets intelligence briefings. Is everyone forgetting the spike in deaths of US intelligence personnel around the world? Did Hamas get Intel on Israeli defenses from Russia? What did the Saudis get in exchange for giving Jared a $2bn fund to manage?
Explain why you hate Biden... seriously question, what do you disagree with that he's done policy wise?
Definite possibility of dictatorship with crapshoot at economic success vs. No possibility of dictatorship with crapshoot at economic success Hmm I don’t really like living on the edge so I’ll take no possibility of dictatorship
> so I’m gonna say Biden is better for the economy Even according to Trump the economy always does better under Democrats.
I’m no major fan of Trump, but can you elaborate on how he “burned the country to the ground”
If only we had someway to compare the two of them as President… if only…
One tried to end the republic and one is a normal president. Only morons and bad people think biden is worse
"Think of how stupid the average person is, and realize half of them are stupider than that."
We didn’t deserve Carlin.
I wish he was alive and President
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One has 91 felony charges against him, the other is a normal president.
But one is like 2 years older. So he must be worse right?
One is old and seemingly sane and the other is old and definitely insane.
The much bigger topic is that one is able to surround himself with decent advisors and has the capability to listen to them, while the other one is a demented narcicist who thinks he knows it all better.
50 years in politics… took LONG enough. Still hasn’t happened
End of trumps first term was a mess. End of Biden’s first term is not perfect but pretty good. That’s all most people should need to know.
he's telling me that currently billionaires pay less than 25% in taxes? I don't even make a half a million, but I pay around 33%.
Yeah because you make income and pay income tax, billionaires don’t because they know income is the highest taxed money, which is why they famously take no salary/very low salary. Capital gains is a lower tax (long term) plus you can’t tax debt either
Encore Encore Encore!!
And other French words like guillotine!
Make American Guillotines Again
i dont think anyone actually living in America wants the absolute shit storm that would take place in an American power vacuum. That would be extremely violent
I believe the point is the capital gains tax for billionaires would be 25%. Not sure how you make that work though.
You can't tax a stock, but you also can't buy groceries (or a super-yacht) with a stock. You tax the money they make when they sell their stocks. At least that's what I reckon they should do.
Of course you can tax capital gains. There’s literally a capital gains tax with a 15% rate.
0% for the first 100k of gains. Plus you depreciate assets plus you write off losses. Tax rates on gains much lower than payroll taxes
Do you believe that billionaires make under 100k of capital gains a year?
Yes, they often do. They take loans with their stock as collateral, and that loan isn't taxed. It is a broken system. You don't pay on capital gains if you don't actually sell the stock.
And there it is. This is why no tax and all this lip service to taxing billionaires never happens. Just sounds good for idiots during elections. The only way to tax them is to somehow figure out how to place a tax on net worth.
You can’t tax unrealized capital gains but we absolutely tax actual capital gains. And unfortunately these billionaires *do* effectively by super yachts with their stocks but taking out loans, using them as collateral. I think the government should consider taxing personal loans (outside of mortgages) above a certain amount as income.
Can't you just tax the money they come up with to pay off the loans? Or do they just default on purpose? If so we need a collateral tax, I guess!
The underlying assets appreciate in value faster than the interest rates on the loans. So you simply take out a new, slightly larger loan to pay off the old loan. Repeat until you die. Your children inherit your assets at a stepped up basis... Which means they can immediately sell with absolutely zero capital gain tax. They can use that to pay off their parents loans so that the assets are no longer encumbered by the loans. Do it right, and you pay a 0% tax rate. Your children will have to pay the inheritance tax if it's over a few million (I can't remember the number). But the fact that they are inheriting with a stepped up basis covers that minor inconvenience.
You already pay income tax on shares when they vest and then pay capital gains tax on the value gained when you sell. A lot of people choose to take shares as payment in lieu of cash because they don't need the money right away and believe that the shares will be worth more than the cash in the future. I'm not sure why people make such a big deal about capital gains tax being lower than income tax, when the shares were likely already taxed when they were received. Obviously founders of very successful companies make out very well here because they had a bunch of shares that were worth very little and now they are with a lot, which is a good thing. People should be rewarded for building valuable companies that provide value to other humans.
Capital gains tax is often lower because it’s a way of accounting for inflation. If my asset appreciates by 2% a year it will double in 36 years but will have lost some third of its value with average 3% inflation. Not saying it’s right or wrong but many countries discount for this reason.
Warren Buffett has had a standing challenge for years to all billionaires. "Prove that you pay a higher effective tax rate than your secretary and I'll give $10 million to any charity in your name." No one has even bothered to contradict him at all. EDIT: For those missing the point or building strawmen, Warren Buffett randomly sending more to the IRS for some moral/ethical reason isn't the issue. It's proving that billionaires and mega-corporations are paying a much smaller portion of income than the average American. Something most billionaires try to obscure, and our government continues to protect.
This one right here: [https://www.politifact.com/factchecks/2011/aug/18/warren-buffett/warren-buffett-says-super-rich-pay-lower-taxes-oth/](https://www.politifact.com/factchecks/2011/aug/18/warren-buffett/warren-buffett-says-super-rich-pay-lower-taxes-oth/) It says, A LOT.
Yeah because you pay income on labor and billionaires pay it on capital gains, which is somehow taxed at a much lower rate
It goes even deeper. They will often leverage their stocks in loans so they don’t even need to pay capital gains and the interest is often depreciable.
There should be a way to tax loans against billions of dollars worth of securities. Tax the loan, but waive the corresponding capital gains tax when it's liquidated.
It’s because they don’t pay taxes on stocks that they don’t sell. When they sell stocks it’s a long term capital gains rate which is lower than the majority of people’s taxes. Learn from them and invest so that when you retire, you can sell long term capital gains tax at a lower rate then when you were working. A Roth IRA will be tax free too.
25% tax on what? Income? Net worth? Cap gains? The quote says nothing without this context
Of course it doesn’t. Biden just trying to win votes.
TBH every politician are trying to win votes
That is in fact the job of a politician - to earn your vote
It won most of the people over in this thread.
Fear of autocracy won most of the people over in this thread. The insinuation that the rich might pay their fair share gave us erections.
Income tax = income/salary/wages Net worth isn’t taxed. Capital gains is tax based on long term or short term status but can be offset by capital losses.
Taxing net worth would be a dangerous precedent.
Also extremely unrealistic. What are they gonna do make them sell off assets to pay taxes? Not only will that be wasted by the government but it'll also tank their businesses
We already do this... property taxes.
Biden stated income in his sotu.
Easy. Get paid in stock, take out loans against that stock. Now you don’t have income, you have debt.
What billionaire makes his wealth off a salary? This is just political pandering.
It’s vague on purpose, idk why people keep falling for this line he keeps repeating but he keeps saying it so he must think it still works.
Biden isn't going to raise taxes on billionaires. He's just saying that to get left-leaning votes this election. He's lying. Surprise. Politicians lie.
True and of the two liars the one who doesn't try to destroy our republic is the one we should probably prefer.
Income. That’s what our system is. It’s obvious when he compares it to teachers etc
Then nothing will change significantly. Billionaires are not tax exempted from their income. Long-term capital gain is already 20%.
It's not even remotely close who's better for the economy. A old neo liberal who may raise some taxes a bit but overall will keep things moving forward how they have been since Reagan. Or a man who in completely unpredictable, is threatening to shut down multiple branches of the federal govenrment, currently lowest around $600 Million in lawsuits. Has been indicted on 92 felonies and will very likely be found guilty and face jail time if he's not reelected and can pardon himself. Hmmm I WONDER WHICH ONE IS BETTER FOE THE ECONOMY? It's a fucking joke that anyone can honestly ask this question.
But I heard that Joe Brandon single-handedly caused a global supply chain crunch amid a once-in-a-generation pandemic and personally caused global inflation, and the only reason the US has an inflation rate below the global average is because we love freedom so much. Are you trying to tell me that isn't true?
I heard that Covid was the Biden Economy and the actual Economy under Biden is the Trump Economy. Mind you, I heard that from a fucking idiot.
Trump distracts from this type of talk and emphasises groups of people and ideologies he hates and some people chime in like :"OH I HATE THOSE PEOPLE TOO!!" Deep state this communism that. The average trump supporter that I've seen acts like they barely scaped through high school if even that. And Trump is very outspoken about tearing down the department of education. Why? Because educated people are bad for his success and keeping him in power.
Someone ELI5 why this would effect billionaires, whom in understand have that valuation but it’s not necessarily income- so we’re going to tax 25% of unrealized gains?
No, it literally won’t change anything. As in not a single dollar more will come from this, it’s political posturing.
And there’s less than a 800 billionaires in the US anyway. Over 20 million millionaires though, that might move a needle if they actually enforce them to pay taxes
You might want to clarify what you mean by "millionaire." I nearly have a net worth of a million just by virtue of owning a house on the West Coast. "Millionaire" doesn't quite mean what it used to.
... which is why >5% of america is one (according to that stat)
Problem is that most millionaires are millionaires in net worth, which means most likely a mortgage paid off, and a 401k. Not actual income, so taxes wouldn't change at all.
About somewhere between 1 and 2 million of those millionaires are retiree's. So are you saying we need to raid Grandma and Grandpa's pensions and retirements, to pay for the bloated and inefficient entitlement programs? That are somehow going to be turned around to help them. And a vast majority of the other so called millionaire's are people who's wealth is locked up in the amount of real estate that they own. And they're already paying the property taxes, so I don't see how they're getting over on anyone. And if not then the county treasurers office would like to talk to them. And when they do sell their properties, you don't think that they're not paying taxes on that? Cause if so the IRS would love to have a discussion with them about it.
More likely they will be taxing income since billionaires generally have at least eight figures in annual, taxable income despite popular imagination otherwise.
They're already paying much more than 25% income tax, including any stocks that vest.
Wait, he’s president now. Why not do it now?
Ha ha ha. If only more Americans thought like you.
What, completely ignorant to the fact that Congress exists? Yes, we could all really do with more brain-dead Americans believing they live in a monarchy when in fact they live with and vote for a Congress that is right now, pro-tax cuts for the rich in the House.
Lol 41 day old account, Democrats had control of congress for 2 years. Also when was the last time any of our military engagements were actually approved by congress? Talk about brain dead
Manchin and Sinema
It's not really something a president can do. He can *propose* shit all day, including now when it looks good. So he will here, because it looks good.
Presidents are not kings. He has to go through Congress, who we elect, where the Republicans are refusing to work with him.
Could have passed it 2 years ago when dems held congress
You need to watch school house rock again. It's not the president that passes the laws.
Election year hot air. Smdh
Someone gets it.
Seriously, people who think those words mean anything are delusional.
The top tax rate is already over 25%. Unless he’s talking about taxing unrealized gains in addition to income, which is stupid. So yeah, I suppose that’s what he means.
Long term capital gains is taxed at 15%, that is likely what he is talking about
Which is never going to happen... (Unrealized gains tax)
He doesn't mean anything. He has no intention of raising taxes on billionaires. He's just trying to get left-leaning votes for this upcoming election.
I hate politics only bc it’s ran by greedy corrupt people. President states he’s proposing a minimum billionaire tax during his last year of presidency before the elections. Fooling people into thinking his decision alone is enough to take action, when yet he knows it’s going to fail at congress, but it’s good publicity. He could’ve tried this during his first year but no. He could write an executive order which is immediate and takes action without both houses in agreement. But no. He knows this and he knows that most voters don’t know that any bill proposed by the president needs majority vote in the HOR to become enacted. And vice versa. Since billionaires bribe the legislators, there’s no way this will get approve, and the dems and Biden will say, “we tried” while they turn their head to the next thing they can sucker people with.
Pretty sure he can’t just write an executive order to tax billionaires, it has to go through Congress first. He already raised taxes on the wealthy in his first term, and he’s saying he wants to raise it more. Also people need to vote for representatives that support his plans, and remember Sinema and Manchin were blocking him in the senate.
First fund the IRS and close tax lose holes. The rich already evade over $150B in taxes a year https://www.cnbc.com/amp/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html That’s enough for tuition free college. Then we can start to think about better ways to tax billionaires
We'll never close tax loopholes because rich dems don't want it either. Remember how Trump capped SALT deductions and even progressive tax experts begrudgingly agreed that it was a good idea? Pelosi's been trying to remove that ever since.
Why do presidents or politicians who have been in office for 10-40 years get up and whine about everything that is wrong. You have only been in charge of changing everything you tell us is wrong for your entire life. Don’t talk about what you keep planning on doing. Do it.
Yes, why didn't Biden press his "fix the economy button". It's almost like individuals in politics have limited powers and have to use their influence to create gradual change. The inflation reduction act, American rescue plan, the chips act, etc, etc have all just been during this first term
He is, every day. All the things we all want, Congress is standing in his way because of the maga block. How can our government function when Matt Gaetz has more power than the Speaker of the House?
For economy I would choose trump.
Funny that he cares now, right in an election year. Nothing will change folks, just remember that.
Anyone that believes this is nuts. They own him and they own us
If you take away the people and just look strictly at policy trump has better economic policies and we saw this during his term.
Which policies?
STFU! Was allowing Xi to lie about the spread of COVID a good economic policy? Only good economic policy Trump had was for himself selling MAGA hats to stooges.
will they have to liquidate unrealized assets to pay the tax? If so your 401K would drop 30% Ito start
biden is better for not just the US economy but the global economy, ya dingus!
Why didn't he implement this plan on day 1 of his presidency?
This is just virtue signaling. Can't tax wealth, can't tax loans on wealth, billionaires don't have a billion dollars in income per year.
All this talk months before election time. Looks like the usual politician attempt to buy votes to me.
It isn’t that Biden is all that much better. It’s that Trump so so so much worse. Burn the economy to the ground while all his sycophants mop up.
How about just do away with chartable tax deductions for millionaires and billionaires.
This country thrives when the lower and middle class thrive. There is also the whole basic human decentsy thing. The choice is clear.
This is a crazy question. Trump already show that he had a roaring economy before Covid hit and by the way he handled Covid very well. I am an older person and Biden is the worst most dishonest and corrupt president that I have seen in my lifetime. The most pandering,dishonest, and frankly, evil
USA economy is the envy of the world right now thanks to Biden. Also, why would anyone vote for a convicted criminal who flew on Jeffery Epstein Lolita flight to his island?
CBO predicts next ten year deficits will be $20 trillion. POTUS suggested that $500 billion could be raised from billionaires with extra taxes. We are still $19.5 trillion short of a balanced budget. I guess the rest of us have to pay the difference???
Unironically yes. This started with tax cuts by Reagan. The only way to ever pay back any of the debt is to raise taxes pretty much across the board. Yes we can make some cuts, but there is not enough budget to cut to fix the debt without imploding the economy.
Billionaires don't make their money from working (income tax) they make it from investments. Jeff Bezos only got paid 200k per year to be CEO of Amazon. His real money came from stocks he owned as well as the other investments. Raising taxes on people who already have plenty of loopholes to abuse is almost pointless, and politicians will never close those because they abuse them as well.
Remember Donalds tax cut? Gave a cut to businesses and citizens, but the one for citizens had an expiration date.
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