What happens when Trump-era tax cuts expire?
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- Опубліковано 9 кві 2024
- Judy Shelton and Grover Norquist discuss the amount of U.S. debt under President Biden and the impending increase in taxes after Trump-era tax cuts expire on ‘The Evening Edit.’
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Why would any American trust government with money
Which is exactly why I don't give Fed or State ANY of mine.
@@user-ve4ig6pw1sRICH or illegal immigrant and you're getting our tax dallors
@@user-ve4ig6pw1s you have very little or no choice but to be taxed because debt monetization has to be serviced and paid. You're essentially a debt slave
America isn't Living anymore...
It feels like we're just waiting something out...!
For 4 frikin years… ptuey!
100%. Dems are possessed by the devil.
That’s just you bro! My life is incredible! 🤷🏻♀️🤪 Try harder. Stop being lazy 😂
@@MARR_2024 - the perfect sheep…. don’t get stuck in the fence…
@tobberfutooagain2628 swear
people who live paycheck to paycheck will lose everything.
Stop believing in the BS.
No you won't! Regardless of who is elected, We The People need to challenge our country. BOTH parties have forgotten that our government is not just BY THE PEOPLE but FOR THE PEOPLE as well. That is the real problem and we Americans need to join together to address that, not fight each other. So if we can unite, people will not lose everything. Instead, they will gain back what they have lost. We have all been FORGOTTEN by our government. ALL of us. I live paycheck to paycheck too.
The printing press needs to be stopped we need the Gold standard back.
Correct .
The Biden Racist Law Breaking Democrats Lady's and Man's is Making All The Government Shutdowns From Trying Very Hard in A Weasley Way to Support 9different Dangerous Foreigned Countrys Of Dangerous Foreigned illegal People of Any kind Along with Foreigned Terrorist And The Mexican drug Cartels life's With the American Taxpayers Money Along with Giving Ukrainian Russians Trillions of Trillions of the American people Tax Money to bring a Government Shutdown What part of this that you seem not to understand this is the problem with The Government being Shutdown it is Common Common Sense Get it 5:47.
BRICS have already started doing so..
To late for gold bro
@@kyos8462As only one example - The last inventory for gold at Fort Knox , was 12 years ago.
The Americans get exactly what they voted for, higher taxes and poverty.
Yep, that’s what we get thanks you to people electing Trump in 2016.
LIES!!!! Those tax cuts went to the RICH!!! Go read a news paper!!
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Interesting! Good day! Although I'm new to investing, I've heard that now is a wonderful time to buy. I have some money in my bank account that is just sitting there, and I really want to make it work for me, especially with the current rate of inflation being so high. Do you have any knowledge about this coach who supports you? I'd like to research them and find out more.
'Melissa Terri Swayne is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
I appreciate you sharing this. When I looked up the woman you named and read through her credentials, it was obvious that she was a complete professional. I just need her to respond to the message I wrote her.
Time to reduce federal employment? Time to reduce waste and unnecessary expenses in all agencies? Simplify paperwork and require transparency and accountability?
stop sending money to destory every bloody country on the planet and stop housing illegal migrants. That would take care of most of the expenses.
That only works for the rich.
Time to let the rich pay same tax % as everyone else.
@@NYlockeddid you not watch the video? They pay much MORE than everyone else
@@NYlocked I am not sure people understand the logic behind tax structure
Washington DC wants the middle class gone.
No they just want only us to pay in taxes not them.
Been saying for year's they only want rich and poor that's where it's headed.
DC knows what's good for you.
That happened under Reagan, genius.
The fact that you people think trump helped you is hilarious. He only helped big business as he tanked the economy.
What a surprise. Another way to raise taxes. 🙄
They find and create ways to do that
That is trumps agenda
@@kenW13 true maga do and then lie about it
Capital gains should be zero
It's like trying to squeeze blood out of a turnip
Or a grasshopper.
Amazing it's sounds like that's exactly what trump doing to his supporters 😅
@biggeemike007 um no.. more like what your cult leader joey is doing to the entire country.. besides you act like joey isn't begging for donations and milking you and your fellow cult members dry..smh..
"Democracy is the Road to socialism" Marx. "Socialism is not compassion. It is a tool to control every aspect of lives." Me.
Socialism is also the stumbling block into COMMUNISM, which my uncle warned about. COVID killed him in 2021. I'm sure you know WHICH country is communists?
Is that all the kremlin has today.
Wake up America. Dems are not just a political party. They are the enemy within.
Maga is the road to kids in kennels and transgender lives.
*Biden has spent far more than Trump did as President.*
Raising taxes won't reduce the deficit because they will simply increase spending by twice as much.
Does anyone else feel like our economy is being run by the worst students in your math classes???
The economy is being ran by students from Liberal Arts :P
repubs have a majority, genius.
You mean like Art Laffer, a fake economist?
@@robyoung-pl1gq how big of majority , simp
@kristencraft623 Why do you feel like that?
That same thing that happened when title 42 expired, Americans get screwed by Biden. ... let's move on to the next silly question....
Except 2 key points. 1. This expires in 2025 when the next president is installed. 2. The bigger problem is incompetent levels of spending.
Lets face facts, these tax cuts are simply helping people get by in a Biden-Inflated economy. And we really didn't need caps on estate taxes, which taxes don't start until after the first $1 million anyway! But the rest of the tax cuts were very beneficial to people in low-middle class earning levels! Although the bulk of the cuts had more of impact on households in the top 1% who received on average of more than $60k in tax breaks. (SALT) State and Local Income tax deductions, and 20% deduction for pass through businesses.
@@tobybigham4196 wow, I didn't know how stupid you were until now
@@tobybigham4196 do you believe that rubbish in your own comment? I sure don't
@@Genesis-007 maybe you should
Hahaha Trump is the one that made this tax plan to increase your taxes in 2025… how can you be so !gnorant??
$35T in national debt, this country is so screwed.....
Keep your chin up kid. November is just around the corner.
@@timothy4557 i like trump, he has my vote but is he going to walk back the national debt and get that number to roll backwards? NO ONE HAS.... it just goes up and up. he could slow the upward trend but stopping it? dont know if he can do that.
@@andrewdonohue1853 I'm with yah. It ain't easy cleaning a barn stall after four years; but possible.
So back on a Gold Standard?
It would have the effect of upending the American way of life. The deficit spending has to end first, and the American people are addicted to deficit spending. @darkdan3379
44.6 cap gains tax is insane .
Why do tax cuts expire, but tax increases never do?
Maybe "We The People" should take our country back?
Maybe you should start doing so instead of keyboard typing?
Be careful my friend you're talking about a civil war and I totally agree with you this is why the government wants to take our guns away that way we don't have a leg to stand on
@@user-iv8pd2jt3d
Who's knocking on your door insisting on you turning over your guns? No one is knocking on mine
@@user-iv8pd2jt3d
We have been engaged in a civil war for quite some time. True Americans vs the Democrats.
@@federalistpapers4523 and you and others will keep doing so until you all start following the entirety of the US Constitution instead of cherry picking the ones that you think benefits you at the expense of others. The Dem party was already seething w revenge after the 1860s Ci-vil War ended and became more insidious after the Progressive Era took place under Teddy Roosevelt.
If their personal budgets were the same as the National budget, Congess would have more debt than income.
We were MUCH better off with Trump in office. Vote Trump!
*TRUMP 2024*
I got two dollars more on my refund under Trump.
Newsome 2024
@@1SmokingLizard get a real democrat.
ilhan Omar/ Maxine Waters 2024.
@@Wolfcamp555 nah. Get President Bernie and VP AOC
Is that lipstick? 💄
Why yes it is...obidens gov..is still trying to figure out witch end of the pig to paint.
I guess it would be too much to hope for that corporate America will start paying their fair share? I doubt very seriously that the top 1% pays anywhere close to 46%!
Govt. wants small business's gone, everyone will have to shop @ the places like Walmart & Amazon.
I think Biden cannot even balance his own check book!
I know what will happen, they will blame him for the tax increase
I don't owe nothing or nobody
You forgot the key word "yet."
What happens? Disaster!
Love how they say "americans" instead of ultra wealthy. Trying to trigger voters...smh
Not true, avg. household will pay 2,500 more per year.
Nov 5
Vote🇺🇸Trump🇺🇸24!
It’s amazing how large our defense budget is, but not a soldier on the border.
Even more amazing is the bipartisan bill that Chump killed just so he could use it as a platform to run on. He put himself over the country. Great self sacrifice. The whining infant needs your money (because he is so rich!) so make sure to go out and buy his bible and golden sneakers so he can pay his legal bills. NAH! Just kidding! He has no intention of paying his bills! HAHAHAH He never does.
Maga are there guarding the kids for sales,
Comments above from Dearborn Michigan.
I can't be out of money because I still have checks in my checkbook.
And now Biden has a never ending supply of checks.
If You Care About America You Need To Listen & Hear This (Good Luck America)
Feeling the Freedom Yet?
I want to bring back Separate but Equal... I want all Citizens to be Equal to the Ruling Class & Government Class! I want every US Citizen to have the same Immunities, Exemptions, Protections, and Privileges!
@Marsmaniac; Ruling class ? that's a democratic talking point, In our "Republic" Citizens rule, And I'm a control freak, (not to be confused with those long haired dope smoking pinko commie fags, mind you) Good day My Friend
Not a fan of separate but equal. A big fan of we are all equal. But absolutely yes re Ruling Class and Government Class. What would these government types do if THEY had to spend a hour on hold only to yell "Representative!!" into the phone and the just give up in frustration.... and to have to do that literally any time you want to get anything done.
Trump Administration officials claimed their centerpiece corporate tax rate cut would “very conservatively” lead to a $4,000 boost in household income.[5] New research shows that workers who earned less than about $114,000 on average in 2016 saw “no change in earnings” from the corporate tax rate cut, while top executive salaries increased sharply.[6] Similarly, rigorous research concluded that the tax law’s 20 percent pass-through deduction, which was skewed in favor of wealthy business owners, has largely failed to trickle down to workers in those companies who aren’t owners.[7] Like the Bush tax cuts before it,[8] the 2017 Trump tax cut was a trickle-down failure.
Then why would they pay more in taxes when they work WITH Congress to create loopholes that they can exploit? Expecting the "wealthy" to "pay their share" is a pipe dream. You're NEVER going to get the proper amount from them, maybe Congress should get rid of Medicare, Medicaid, and Social Security since those alone are 2/3 of the budget and WON'T be talked about or adjusted in any facet.
Obama was the president in 2016. not trump.
Trickle down is not a thing it’s called supply side economics.
Your words are the failure, Your thinking is the failure, And obviously your voting record was the biggest failure of all ! Thanks a lot My Friend, but I'm not in the market for any, But ! If I was, I would just buy my own herd of bovine spongiform encephalopathy! Godspeed
So why were people doing so much better under Trump than they are under Biden?
It wasn't appallingly to these people when Trump added 8 trillion to the debt
$3.6 trillion came from COVID relief laws
Simple answer. We start paying more taxes! We were warned.
..........corporations pay their fair share
Inflation don't include the lowering quality of products on the shelves.
Are there no people in the government that have a business background?
Raising the capital gains tax would most harm small investors and create stagnation in the market. Who would even sell under those terms?
Add ya got to
Why are we stimulating an economy with unemployment below 4%?
Like obidenomics....the unemployment rate is also a false gov. Number
These numbers are always not true under any president
@@danielbrown7535 well even a broken clock is right 2x a day! When things get much worse, how much more can government do with 36 trillion in debt on the books? There won’t be any way to gin up the economy then.
The worst thing for an economy is when people get scared and start running. Once the economy looks like it "might" crash people will go crazy and pull money out everywhere then it definitely WILL crash. So that is what is happening right now. Keeping the faith. Yeah, we had a bank failure. No big deal everyone... everything is fine.... economy is great.... have to keep up that image as long as we can. So stimulate the economy! Yeah! That's what we need!
Strong job numbers is a joke. Ask someone outside of retail and entertainment about how hard it is to find work.
Tax cuts for wealthy and corporations were made permanent tax cuts for the working class were made temporary
WHAT TAX CUT!?!?!? Taxes have been so much more this year than previous years. Its over 10% here in california, its ridiculous! Get rid of sales tax or home tax or income tax or some kind of Tax because we are paying too much taxes! Lovwer taxes they are way too high.
???????
I make $100K>> no taxes
No property tax
no Fed or state tax
no tax on food
I would pay tax on tires, alcohol, gasoline, tobacco, if I used.
They should be spending over 100 trillion dollars every year
We have 100 year of debt.
Require the politicians to go back to school
You wanna pay for THAT too...?
Fox, do you think you can cover what is going on with the farmers across the world right now? It seems like a really important issue for mankind.
So your solution is to put the guy that ran up 25% of our national debt back in charge? When we received nothing for it?
$3.6 trillion came from COVID relief laws.
I'm 70 and glad I wasn't sent to a "check out room."
It was burning through Northern Italy, no one knew how to stop it.
Make people stay at home and stop the spread.
No worries. Just print more money and raise the national minimum wage to 25.00 an hour. What could go wrong?
Where is this money 💰 going to
We need people in the office that will stop spending money like we have it no more money for wars that is not our
I am a American and I want to live like an American. THE SWAMP STINKS.
How can i know more than these people from youtube
Can't y'all find a way to keep them in place, until he gets back in office
If that ticker is in real time, that's 100k every 3 seconds? Can that be right?
It’s every 4 seconds idiot
Wow
Tax payers benefit from itemizing deductions when the value of deductions exceed the amount of standard deductions.
Eliminate itemized deductions entirely would decrease the deficit by 2.5 trillion in nine years.
Trump did take away a lot of deductions. I ended up paying $3000 more to uncle sam with Trump's law because I lost so many deductions. All miscellaneous, moving expenses, work expenses, etc
We're Toast
We wont have a middle class we keep this up
Big government equals poor people
Called Billionares and the Rich stop getting big breaks!
Every american should refuse to pay property taxes
How about The Government Pays for all the American 🇺🇸 people who have a Mortgage Payment 👏👍
Im about to go off grid. This is rediculous if trump doesn't win im going off grid just walk off into the woods
Government takes over everything 😂
Tax income is not the issue - spending is.
The massive debt is skewing the job numbers . Much of that money added to our debt is going to the green new deal and is going to crash once the brakes are put on a stupid ill prepared plan !
Mark my word it’s coming !
Pay more irs taxes
Middle classs almost gone
There is a reason they call it the American Dream..
BECAUSE YOU HAVE TO BE ASLEEP TO BELIEVE IT!!
......... George Carlin........
For a long time they planned AWM99V and obviously nothing comes close
They’ve already expired.
Trump Administration officials claimed their centerpiece corporate tax rate cut would "very conservatively" lead to a $4,000 boost in household income. New research shows that workers who earned less than $114,000 on average in 2016 saw "no change in earnings" from the corporate tax rate cut, while top executive salaries increased sharply.
Nonsense
@@holdendavid9025 facts are so hard for MAGAts
first his taxes dont go up. they stay. but everyone elses go up. and strangely enough some pretrump tax write offs aren't allowed when they do. so basically he got a tax cut for good. we got them for 4 years and lost many that we use to have,
Households with incomes in the top 1 percent will receive an average tax cut of more than $60,000 in 2025, compared to an average tax cut of less than $500 for households in the bottom 60 percent, according to the Tax Policy Center (TPC).[1] As a share of after-tax income, tax cuts at the top - for both households in the top 1 percent and the top 5 percent - are more than triple the total value of the tax cuts received for people with incomes in the bottom 60 percent.[2]
Because there's an entire industry around those people hiring lawyers and tax "professionals" to argue with the IRS for larger dedications, the IRS doesn't want to waste time fighting so they pick on the people that can't fight back.
So many apparently smart humans in this world but the biggest innovation was AWM99V just a few days old btw
And who owns it….I think not!
The deficit will be cut by 2 trillion dollars
Our budget deficit will be almost gone
Trump's tax plan eliminated several tax deductions that were available that allowed most people to reduce their tax contribution down to 20%. I'm looking forward to it ending.
Trump's tax plan doubled the standard deduction and doubled the Child tax credit ,
+ reduced the middle class rate15%>>12%
On my $80K retirement, I will pay $7450 more.
$30K deduction>>$15K>>>$2250 more
$8K for 4 kids>> $4K more loss
$1200 more on the 3%
Yes, the biggest one was taking away employee business expenses. Trump's law made it so you could only deduct if you owned the business. That was huge for me because I'm a teacher and have to spend my own money on everything.
@lileos2837 My wife is also a teacher and spends a lot of our income for supplies and some trainings. Before we could deduct more. But Trump's tax changes ended that.
I don't see anything extra
does the guy in the glasses have lipstick on?
Joe Biden was a math professor right?
Nah, an economic illiterate.
That dude can't count to three. "I got two words for you, Made in America" - FJB
Well, he’s been living off the tax payer his whole life 🤔
Yeah and I’m a rocket scientist for nasa as my second job
Yes, at the black synagogue in his Puerto Rican neighborhood. This was before his son was killed in Iraq.
Americans pay these politicians so I think voters should cut their salaries due to poor job performance in Washington.
if you penalize success, people will stop striving, why should anyone work harder just to give their money to the government
A loaf of bread is almost 10 dollars
quit lying trumper.
As long as you play with the printing machine,we gladly welcome you to Zimbabwe
Isnt Zimbabwe's currency US dollar?
@@wrongturnVfor have you ever seen a trillion bill?
@@hyundaicanaliculli7549 yes, but what does that have to do with my question?
All of us deserve the truth but without AWM99V a solid 95% will remain blindfolded. I can't stand this anymore
Imagine a job so important the expectations of doing your job are 1%. 🤣🤣🤣🤣
BIDENOMICS
A lot of stimulus and this Student Debt Relief will make it more worst... lets go Brandon
I have a sneaking suspicion that all this bruhaha about the national debt will completely cease if Trump wins in November. You'll never hear a word about it until the next election cycle.
Here is a crazy thought, tax the rich people more!!!
You could tax the rich at 100% and it wouldn’t even touch the interest on debt! Under Biden Hebrew the interest on debt by 900 billion. Tax payers are on the hook for over 1 trillion in interest on debt yearly. You need to end all the social, equity, green , illegal migrant welfare, and more spending by at least 3 trillion.
It doesn’t work that way , If you tax the rich they will just raise the price of everything they produce to offset the tax increase putting it on our backs
Interesting Income Tax Info
In 1932, during the Great Depression, Congress raised the maximum Individual Tax Rate to 63%. In the 1940s, when there was a war on, the rate was raised to 94%. In the 1950s through the 1970s the maximum ITR was never below 70%.
Now from the 1940s to 1980, the American economy was heralded as a model for the world. Prosperity was rampant, and things were only going to get better.
However, from the 1980s through today, it is quite a different story. Stagnant wages, two-income households to make ends meet, and a rising income gap between the well to do and the rest of society, are just some examples. And in that same time the maximum individual tax rate has gone down from 69% to 35%.
This tells me that the current maximum individual tax rates are not designed to sustain a healthy economy for the majority of taxpayers.
There was shift during that was happening during the 60's and 70's where women were told to stop having kids and devote their entire lives to corporate America. As soon as they flooded into the workforce large corporations had an excuse to slow wage growth and even begin suppressing wages, all the while the Cold War began massive deficit spending and inflation was rising by double digits, but was hidden from public view. Best indicator of inflation is looking at house prices, notice how they began to balloon and explode as soon as the labor pool exploded from women entering it?
We have a Janis Joplin fan. Far out!
Grover is a huge Janis Joplin Fan.
All unbiased researches are united in the fact that we need AWM99V this year more than ever, but obviously casual media trying to hide that from ya
Well, If we lose the dollar we will turn into Venezuela. The American dollar is what the world trades in as it’s always been the most stable currency. If the dollar is worthless ….all of us will be impoverished instantly …bitcoin wont save us either.
democrats would argue president clinton increased taxes while at the same time increasing tax revenue.
Six Trillion in new taxes, that's what's about to happen!!
wrong again, trumper
The economy sucks . Biden needs gone
Economy also sucked under Trump...
Much of why the current economy sucks is because of Trump. Who screwed with the business tax rate which resulted in massive stock buybacks and juiced the market? Trump. Who insisted that the Fed reduce the tax rate, thus removing the biggest tool the Fed has to fight inflation? Trump. Who made the lower bracket tax cuts temporary? Trump. Who fouled up the COVID response which ground the economy to a halt? Trump.
Trump made it so your taxes would increase in 2025 😂 and you think he’s going to save you??
False, the economy is doing good. Educate yourself!
@@NYlocked I'm retired on a pension,
I want 0% inflation.
Uh, maybe we could elect people who would spend less money?
Taxation without representation.