Originally posted by: David Miller
The average family has had an increase of $5000.00 since the Trump tax cuts. You say purchasing power has been stagnant for decades - look at which party has been in office and in control for the majority of those years- the DemocRats. Now we have a President who, in his first 2 1/2 years has reversed that trend and you say he is at fault for decades of stagnent purchasing power for the average person. You are the one "stuck on stupid".
I didn't place blame on any one party for the stagnation of wages. And your statement about which party has been in control the majority of years is wrong. 1980-2019, Republicans, 23 of those 39 years, were President.
I don't know where you got that "$5000" figure--probably Fox News--but it's also inaccurate. Middle class families paid 0.4% less tax in 2018. That's $200 on an income of $50,000. Family income went up by 1.6% in 2018--considerably less than in seven of the eight Obama years. That's $800 on an income of $50,000.
I'll go way beyond your depth here and also point out that the elimination of itemized deductions means that you can no longer deduct casualty and theft losses; that you cannot deduct home mortgage interest; you cannot deduct charitable contributions; you cannot deduct medical expenses; and you cannot deduct gambling losses from gambling wins. The standard deduction is now larger, but if you had any expenses that you would have been able to deduct in the past by filing a Schedule A, you can't do that any longer. The killing of the mortgage interest deduction alone made the taxes of homeowners skyrocket. And on a personal note, my taxes in 2018 were $2000 higher than 2017, on about the same income.
Also, the money not being collected from corporations has to come from somewhere. "The Party of Fiscal Responsibility" is now running a deficit of over $1 trillion. They plan to cut Social Security and Medicare to make up for the shortfall. And they'll try to blame it on the Democrats.
I'm speaking to you as if you were an adult, and I expect that all you'll do in response is bleat the same childish insults.