Trump's press conference

Allan said:

Anyone else watching the post SCOTUS presser?

It's a continuous stream of lies.

My favorites:
There's zero inflation. This repeats a fib he told in Brussels. The US inflation rate in May was 4.2%.

The US economy is on fire - the envy of the world. US GDP contracted -0.5 in Q1, trailing most developed countries.

If the Big Beautiful Bill doesn't pass there will be a 68% tax increase.

He's completely delusional.

Click to expand...

Allan said:

Anyone else watching the post SCOTUS presser?

It's a continuous stream of lies.

My favorites:
There's zero inflation. This repeats a fib he told in Brussels. The US inflation rate in May was 4.2%.

The US economy is on fire - the envy of the world. US GDP contracted -0.5 in Q1, trailing most developed countries.

If the Big Beautiful Bill doesn't pass there will be a 68% tax increase.

He's completely delusional.

Click to expand...

Allan said:

Anyone else watching the post SCOTUS presser?

It's a continuous stream of lies.

My favorites:
There's zero inflation. This repeats a fib he told in Brussels. The US inflation rate in May was 4.2%.

The US economy is on fire - the envy of the world. US GDP contracted -0.5 in Q1, trailing most developed countries.

If the Big Beautiful Bill doesn't pass there will be a 68% tax increase.

He's completely delusional.

Click to expand...

• Increased Income Tax Rates: Individual income tax rates would generally revert to their pre-TCJA levels, with a top rate of 39.6% instead of the current 37%.
• Reduced Standard Deduction: The standard deduction, which was significantly increased under the TCJA, would be cut almost in half, potentially causing many taxpayers to itemize deductions.
• Lowered Child Tax Credit: The Child Tax Credit would be reduced from $2,000 to $1,000, impacting families with children.
• Alternative Minimum Tax (AMT): More taxpayers could become subject to the AMT as the exemption amounts decrease and phaseout thresholds are lowered.
• Estate Tax Changes: The estate tax exemption would be reduced, potentially impacting how wealth is passed on to heirs.
• Business Tax Changes: Certain business tax breaks, such as the pass-through deduction and bonus depreciation, would expire or phase out.

• Overall: The average taxpayer could see a tax hike of 22%.
• Median Income Families: A family of four with the median income of $80,610 could see a tax increase of $1,695, which is equivalent to about 9 weeks of groceries for a typical family.
• Lower-income Households: Although the TCJA lowered tax rates for all income levels, the expiration would disproportionately affect lower-income households. The lowest income quintile could see an average tax increase of $130.
• Higher-income Households: Households in the top 1% could see an average tax increase of $61,090 if the individual and estate tax provisions expire.

• Economic Impacts: The expiration of the TCJA is projected to have various economic impacts, including potentially slower economic growth and reduced wages in the long term.
• State Tax Implications: Many states tie their tax codes to the federal tax code, so the expiration of the TCJA could trigger changes to state tax laws as well.
• Uncertainty: The final outcome of the tax debate is not yet known. Congress is currently considering legislation to extend or modify the TCJA provisions, which could lead to a different scenario than a complete expiration.

j brown's body said:

Every frickin' day.

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Callen said:

He isn't playing well in the polls. Amazingly he thinks this kind of crap will bolster him. Facts are the base is solid and nothing will move them but the rest of America is getting tired of his lies and never ending chaos. He won't pay but the GOP will.

Click to expand...

Integrityrespec said:

Key Impacts of Expiration:

• Increased Income Tax Rates: Individual income tax rates would generally revert to their pre-TCJA levels, with a top rate of 39.6% instead of the current 37%.
• Reduced Standard Deduction: The standard deduction, which was significantly increased under the TCJA, would be cut almost in half, potentially causing many taxpayers to itemize deductions.
• Lowered Child Tax Credit: The Child Tax Credit would be reduced from $2,000 to $1,000, impacting families with children.
• Alternative Minimum Tax (AMT): More taxpayers could become subject to the AMT as the exemption amounts decrease and phaseout thresholds are lowered.
• Estate Tax Changes: The estate tax exemption would be reduced, potentially impacting how wealth is passed on to heirs.
• Business Tax Changes: Certain business tax breaks, such as the pass-through deduction and bonus depreciation, would expire or phase out.

Estimates of Average Tax Increases:

• Overall: The average taxpayer could see a tax hike of 22%.
• Median Income Families: A family of four with the median income of $80,610 could see a tax increase of $1,695, which is equivalent to about 9 weeks of groceries for a typical family.
• Lower-income Households: Although the TCJA lowered tax rates for all income levels, the expiration would disproportionately affect lower-income households. The lowest income quintile could see an average tax increase of $130.
• Higher-income Households: Households in the top 1% could see an average tax increase of $61,090 if the individual and estate tax provisions expire.

Important Considerations:

• Economic Impacts: The expiration of the TCJA is projected to have various economic impacts, including potentially slower economic growth and reduced wages in the long term.
• State Tax Implications: Many states tie their tax codes to the federal tax code, so the expiration of the TCJA could trigger changes to state tax laws as well.
• Uncertainty: The final outcome of the tax debate is not yet known. Congress is currently considering legislation to extend or modify the TCJA provisions, which could lead to a different scenario than a complete expiration.

I don't know how Trump's people figure the amount but here's an unbiased prediction and it doesn't look good for the taxpayer. Lots of increases if the Bill doesn't pass.

Click to expand...

Integrityrespec said:

Key Impacts of Expiration:

• Increased Income Tax Rates: Individual income tax rates would generally revert to their pre-TCJA levels, with a top rate of 39.6% instead of the current 37%.
• Reduced Standard Deduction: The standard deduction, which was significantly increased under the TCJA, would be cut almost in half, potentially causing many taxpayers to itemize deductions.
• Lowered Child Tax Credit: The Child Tax Credit would be reduced from $2,000 to $1,000, impacting families with children.
• Alternative Minimum Tax (AMT): More taxpayers could become subject to the AMT as the exemption amounts decrease and phaseout thresholds are lowered.
• Estate Tax Changes: The estate tax exemption would be reduced, potentially impacting how wealth is passed on to heirs.
• Business Tax Changes: Certain business tax breaks, such as the pass-through deduction and bonus depreciation, would expire or phase out.

Estimates of Average Tax Increases:

• Overall: The average taxpayer could see a tax hike of 22%.
• Median Income Families: A family of four with the median income of $80,610 could see a tax increase of $1,695, which is equivalent to about 9 weeks of groceries for a typical family.
• Lower-income Households: Although the TCJA lowered tax rates for all income levels, the expiration would disproportionately affect lower-income households. The lowest income quintile could see an average tax increase of $130.
• Higher-income Households: Households in the top 1% could see an average tax increase of $61,090 if the individual and estate tax provisions expire.

Important Considerations:

• Economic Impacts: The expiration of the TCJA is projected to have various economic impacts, including potentially slower economic growth and reduced wages in the long term.
• State Tax Implications: Many states tie their tax codes to the federal tax code, so the expiration of the TCJA could trigger changes to state tax laws as well.
• Uncertainty: The final outcome of the tax debate is not yet known. Congress is currently considering legislation to extend or modify the TCJA provisions, which could lead to a different scenario than a complete expiration.

I don't know how Trump's people figure the amount but here's an unbiased prediction and it doesn't look good for the taxpayer. Lots of increases if the Bill doesn't pass.

Click to expand...

Integrityrespec said:

Key Impacts of Expiration:

• Increased Income Tax Rates: Individual income tax rates would generally revert to their pre-TCJA levels, with a top rate of 39.6% instead of the current 37%.
• Reduced Standard Deduction: The standard deduction, which was significantly increased under the TCJA, would be cut almost in half, potentially causing many taxpayers to itemize deductions.
• Lowered Child Tax Credit: The Child Tax Credit would be reduced from $2,000 to $1,000, impacting families with children.
• Alternative Minimum Tax (AMT): More taxpayers could become subject to the AMT as the exemption amounts decrease and phaseout thresholds are lowered.
• Estate Tax Changes: The estate tax exemption would be reduced, potentially impacting how wealth is passed on to heirs.
• Business Tax Changes: Certain business tax breaks, such as the pass-through deduction and bonus depreciation, would expire or phase out.

Estimates of Average Tax Increases:

• Overall: The average taxpayer could see a tax hike of 22%.
• Median Income Families: A family of four with the median income of $80,610 could see a tax increase of $1,695, which is equivalent to about 9 weeks of groceries for a typical family.
• Lower-income Households: Although the TCJA lowered tax rates for all income levels, the expiration would disproportionately affect lower-income households. The lowest income quintile could see an average tax increase of $130.
• Higher-income Households: Households in the top 1% could see an average tax increase of $61,090 if the individual and estate tax provisions expire.

Important Considerations:

• Economic Impacts: The expiration of the TCJA is projected to have various economic impacts, including potentially slower economic growth and reduced wages in the long term.
• State Tax Implications: Many states tie their tax codes to the federal tax code, so the expiration of the TCJA could trigger changes to state tax laws as well.
• Uncertainty: The final outcome of the tax debate is not yet known. Congress is currently considering legislation to extend or modify the TCJA provisions, which could lead to a different scenario than a complete expiration.

I don't know how Trump's people figure the amount but here's an unbiased prediction and it doesn't look good for the taxpayer. Lots of increases if the Bill doesn't pass.

Click to expand...

eohrnberger said:

I fully expect your post to not be responded to, because its facts rather than the left's usual distortion, contortion, 1/2 truths. Too bad.

I'm on record as being 'less than enthusiastic' about this bill, mainly because it doesn't do anything to curb federal government spending, such as returning to the pre-COVID 2019 spending levels which would make sense, but that said, I'm not looking forward to a 22% increased tax liability when the tax rate reductions expire either.

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The Brad Dad said:

At least he looks worse and worse each time we see him. That’s something.

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Callen said:

He isn't playing well in the polls. Amazingly he thinks this kind of crap will bolster him. Facts are the base is solid and nothing will move them but the rest of America is getting tired of his lies and never ending chaos. He won't pay but the GOP will.

Click to expand...

Grand Mal said:

Shrank about 5 inches in 2 months, too.

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Integrityrespec said:

The only never ending chaos and constant lies are coming from the left.

Click to expand...

Allan said:

Anyone else watching the post SCOTUS presser?

It's a continuous stream of lies.

My favorites:
There's zero inflation. This repeats a fib he told in Brussels. The US inflation rate in May was 4.2%.

The US economy is on fire - the envy of the world. US GDP contracted -0.5 in Q1, trailing most developed countries.

If the Big Beautiful Bill doesn't pass there will be a 68% tax increase.

He's completely delusional.

Click to expand...

Allan said:

Anyone else watching the post SCOTUS presser?

It's a continuous stream of lies.

My favorites:
There's zero inflation. This repeats a fib he told in Brussels. The US inflation rate in May was 4.2%.

The US economy is on fire - the envy of the world. US GDP contracted -0.5 in Q1, trailing most developed countries.

If the Big Beautiful Bill doesn't pass there will be a 68% tax increase.

He's completely delusional.

Click to expand...

Integrityrespec said:

The only never ending chaos and constant lies are coming from the left.

Click to expand...

SCrider said:

I'll wait for the citation for these"facts" before shredding them with the truth.

Click to expand...

Integrityrespec said:

The only never ending chaos and constant lies are coming from the left.

Click to expand...

eohrnberger said:

If you are going to, or capable of, 'shredding' the post with 'the truth' why do you have to wait for a citation for it?

Click to expand...

eohrnberger said:

If you are going to, or capable of, 'shredding' the post with 'the truth' why do you have to wait for a citation for it?

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noonereal said:

You favor a permanent extention of the crippling tax cuts of his last term?

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noonereal said:

Dont you think that wildly irresponsible?

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