Anonymous ID: 000000 April 7, 2021, 6:54 a.m. No.13377459   🗄️.is đź”—kun   >>7593

President Biden’s promise to raise taxes only on the richest Americans cannot possibly be upheld if he is successful with the centerpiece of his tax plan. That, of course, is to repeal the Tax Cuts and Jobs Act (TCJA) passed during the Trump administration. The primary effect of the TCJA was to reduce taxes for Americans in the bottom 80 percent of the income distribution. Put another way, the top 20 percent of earners were the only ones who did not get a tax cut under the TCJA. Americans earning between about $40,000 and $80,000 per year benefited most from the TCJA, and millions of others at the lowest income levels were taken off the tax rolls altogether.

 

The president vows to eliminate the so-called “stepped-up basis” rule for inherited property. The president refers to this as a “loophole” that allows the rich to game the system. It is no loophole. In fact, it is a specific rule of law under Internal Revenue Code §1014. This law was not a part of the TCJA. It has been on the books since 1954 but is only now under attack by Democrats looking for ways to take more of your money.

 

Keep an eye on the estate tax, too. In 2021, estates valued under $11.7 million are not subject to the estate tax. But if President Biden has his way, that threshold will be cut to $3.5 million, and the rate of tax increased to 45 percent (from 40 percent). Considering that as recently as 2001 the threshold was just $675,000, it’s not difficult to foresee this tax hitting middle-income Americans. So much for tax hikes on “only the rich.”

 

https://www.nationalreview.com/2021/04/biden-plan-will-raise-taxes-on-the-middle-class/

Anonymous ID: 000000 April 7, 2021, 7:07 a.m. No.13377522   🗄️.is đź”—kun

Oh, ggodie!

 

MADISON SQUARE GARDEN

CITI FIELD

YANKEE STADIUM

BARCLAYS…



…and most major SPORTS ARENAS and CONCERT VENUES now allow a Negative Rapid Covid-19 Test (taken within 6 hours of the game/concert) as valid requirement for entry.

Anonymous ID: 000000 April 7, 2021, 7:18 a.m. No.13377570   🗄️.is đź”—kun

> >>13365600 p Teen girls accused of killing DC Uber Eats driver reach plea deal ensuring they will not 'be placed in a prison facility'

 

Paging Karma for African-Americans.