Who would have thought he would do the same thing he did in his first term again?
Less than half of the voters, apparently.
Something tells me most of his voters have no idea what he did last time
They raise taxes on the middle class to make people hate taxes so they vote for smaller government.
They’ve been doing it since the 80s. God how I wish our politics weren’t in a death spiral. It’s so boring.
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Billionaires aren’t always the enemy
Uh, yeah they are
wouldn’t be billionaires if they were allies
Billionaires are always the enemy.
You do not get to even 1 billion without causing massive indirect harm to a shitload of people. No one, no one, every, has put in enough to “earn” 1 billion. The vast majority of people will work their entire lives and be lucky to have a gross total income of a few million. Thats Gross, not worth or wealth, thats, “I took money in and spent it to live.”
I would argue anyone worth much over 10 million is in the same harm causing boat as billionaires.
This is nothing, wait until the Trump tariffs kick in and everything gets more expensive.
No guys it’s cool it’ll trickle down any day now just wait
Picture is incorrect. The bottom glass on the right should be cracking.
I don’t think I can afford to prop up the wealthy any more than I already am doing now. Guess I’ll need to get a fourth job to help pay off Musk and company tax relief.
That’s on top of the increase starting now as well.
The tax plan of 2017 cut taxes for everyone, but starting last year they went up for anyone not making 300k or more.
Just work harder and become a billionaire smh
/s
Is there a source on this? Not that I don’t believe it, I’m sure this is exactly what’s going to happen, but if I bring it up in conversation saying “I saw it in a meme” will deflate the argument.
Institute on Taxation and Economic Policy (ITEP)
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
just say I did my own research and anyone dumb enough to ask for a source in casual conversation will be satisfied.
https://www.washingtonpost.com/business/2024/01/12/trump-tax-cuts-2024/
Isn’t their source of data characterized as “left-leaning”? How valid is this information?
Institute on Taxation and Economic Policy (ITEP)
https://itep.org/federal-tax-debate-2025-trump-tax-changes/#collapseOne
Yeah, google ITEP and see that they are classified as “left leaning”. I feel like this lemmy instance is all hard-left at this point.
Nobody in the US knows how marginal rates and progressive tax brackets work, you can sell the fools on anything and just blame the IRS because it’s the most convenient incarnation of what people hate.
It makes me angry when I see people talk about how getting a raise would be bad for them because it would put them in a new tax bracket.
Like dude, no, it won’t be worse. Thats not how that works.
It’s by design… the same group of people think that tarriffs are paid by foreign companies. Keeping voters ignorant is a key part of their strategy. Remember that trump once said “I love the poorly educated”
I mean even this post got it wrong, your taxes go up until about $1 mil, not $300k.
But the cuts could start benefiting you at the $300k bracket relative to before. What’s the actual change?
Because the way marginal taxation works if you make 300k you paid all those extra brackets tax hikes before you got to 300k and started seeing the lower marginal rate.
So to see your impact you add every changed number from the left up to your income, that’s your impact.
Yes it takes a positive turn at 300k, but you’re already deep in the whole and don’t turn to actually positive until around the final bracket.
Why should it be better over $300k though? Thats a tiny tiny percentage of the population who very likely already has more money than they would need for the rest of their lives if they wuit working today, reguardless of age.
People should not be allowed to hoard wealth like that.
This graph should be savings early on, which still benefit those people, because, as you mentioned, it adds them up, but at some point, it gets worse.
Incentivise “spread the wealth”. Lift everyone up, because by 300k, you are good, let others get more.
Yeah I definitely wasn’t advocating for that, was just explaining how that worked with marginal tax rates.
I know how marginal taxes work and you didn’t address my question. If the tax on above $300k is less than it was before you are paying less. What is this about something changing at $1 million?
I think what they’re saying (I didn’t look at the data yet) is that while the rate at 300k is lower, that lower rate doesn’t make up for the higher rates that individual will have paid until that point. So for the individual in question, the net positive doesn’t happen until 1m.
I hope they starve. If I was running a soup kitchen I’d refuse to serve anyone who voted for this.
