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Economics Discuss Payrolls rise more than forecast as wage gains top 3 percent at the Political Forums; Originally Posted by saltwn you think about the facts I just told you. some people see taxes down right now ...

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Old 11-08-2018, 07:35 AM
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Default Re: Payrolls rise more than forecast as wage gains top 3 percent

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Originally Posted by saltwn View Post
you think about the facts I just told you.

some people see taxes down right now but others see it higher. depends on your deductions and your state of residence, also if the state or country has to make up the money by setting their own tax/fees.
https://www.financialsamurai.com/way...lass-tax-hike/
GOP bill would hike taxes on 31 percent of middle-class Americans by 2027, study finds
In 2019, filers at every income level will see a tax cut. The average person making $45,000 would see the amount of their income spent on federal taxes decrease from 10.9 percent to 9.9 percent, according to the committee's report.https://www.politifact.com/new-york/...e-class-taxes/

The tax benefit shifts after 2025 when most changes for individual filers expire, including the lower tax brackets and cap on state and local tax deductions. After the individual provisions expire, all filers who make $75,000 or less annually will see a tax increase.

"Only those income ranges above $75,000 still see a cut by 2027," according to the PolitiFact analysis. "Thatís a significantly different pattern than in 2019, when every group saves, on average."
So now you are changing the topic. You are including State and Local taxes into your equation as you state that it depends upon your state of residence.

Trump and the Republicans lowered the Federal Income tax that affected all of those that pay Federal Income taxes. FACT

If people is certain states see a rise in their taxes due to the change in the exemptions, that is a STATE issue. What that means is that the state that they live in needs to lower their taxes and learn to live within their means. People in low tax states should not be forced to pay higher tax rates so that people living in California, New York or Illinois can continue to vote for higher state and local taxes, but have them negated due to being able to reduce their Federal taxes thru the exemption process.
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Old 11-08-2018, 07:38 AM
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Default Re: Payrolls rise more than forecast as wage gains top 3 percent

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Originally Posted by saltwn View Post
then they should have quit spending first.
instead, they're doing the same thing reagan admin did. lowering taxes too fast, too much while still indebted.
Yes, the Federal government should lower spending. That is something that I have said repeatedly on this board.

However, lowering tax rates does not necessarily equate to decreased revenues by the Federal Government. As taxes are reduced, the economy picks up thereby increasing the amount of money being spent in the country thereby increasing tax revenues. This was proven under Reagan and is showing signs of happening again.
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Old 11-08-2018, 04:38 PM
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Default Re: Payrolls rise more than forecast as wage gains top 3 percent

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Originally Posted by GetAClue View Post
Yes, the Federal government should lower spending. That is something that I have said repeatedly on this board.

However, lowering tax rates does not necessarily equate to decreased revenues by the Federal Government. As taxes are reduced, the economy picks up thereby increasing the amount of money being spent in the country thereby increasing tax revenues. This was proven under Reagan and is showing signs of happening again.
I heard that the IRS was getting in record amounts of tax revenue.

I have also heard that this year will be a HUGE Christmas spending season.
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Old 11-08-2018, 04:40 PM
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Default Re: Payrolls rise more than forecast as wage gains top 3 percent

[QUOTE=saltwn;953126]no, you can't get money out of a turnip, we would get a stupidly minute amount of money out of welfare recipients. since at least the greek, roman, Chinese and Egyptian empires you have to
1) take a good census, and
2) levy taxes on those who have money (or in barter times the means for production like farms)[/QUOTE]

How much tax should we levy? And what does "Those who have money" mean. Everyone that has more money than me?
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