Row 95350

Row ID: 95350 | Dataset Entry | Axioma AXP Content Repository

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That wasn't the Trump tax cut. The tax cuts were 3%. those cuts were applied to each tax bracket. With the top tax bracket getting a 2.6% cut. Wouldn't be 20%. Perhaps it was at the State level you have gotten that extra tax cut. I don't know, I didn't do your taxes.

The problem is taxation for most people happens in the way of payroll tax. So in essence, those cuts are distributed along whatever the frequency of your payroll is. Whether it's weekly, bi-weekly, bi-monthly or monthly.

Each pay period that you received a tax cut was money in your pocket that you didn't realize was extra money from the tax cut because it's only 3% of your gross take home pay. Those dollars are out there competing with other people's dollars for goods and services. That competition creates inflation because if you're not willing to pay for something that you think is a high price, someone else may. Judging by the rate of inflation this has happened.

This is the simple concept of supply and demand. I know you've heard of this concept before. This is it in action. There are other factors however, but they also have to do with too many dollars in the financial system.

Something, you also have heard is that the tax cuts only benefited the rich. Now you're wondering if it's such a small tax cut, how does it benefit anybody? Even the rich? If you're already doing fine and inflation really hasn't affected you, which means you're rich. You wouldn't even know what the price of bread is from day to day or even how a disinfectant like Lysol works or what it's for.

Well, the tax cut is in percentage. A percentage of your overall income. So if you get a 1% tax cut on $100, that's $1. If it's $1,000, it's $10. If it's $10,000, it's $100. I don't think I have to elaborate on the idea. The more money you make, the more money you save. The less money you make, the less money you save and you'll never really see the benefit from it if it comes in slow dribbles.

Tax cuts are fine. It should have been just done with more precision. Or a different method. This was messy. And most likely was a factor in the rising inflation.

FieldValue
text That wasn't the Trump tax cut. The tax cuts were 3%. those cuts were applied to each tax bracket. With the top tax bracket getting a 2.6% cut. Wouldn't be 20%. Perhaps it was at the State level you have gotten that extra tax cut. I don't know, I didn't do your taxes. The problem is taxation for most people happens in the way of payroll tax. So in essence, those cuts are distributed along whatever the frequency of your payroll is. Whether it's weekly, bi-weekly, bi-monthly or monthly. Each pay…
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-25
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Raw Record

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  "text": "That wasn't the Trump tax cut. The tax cuts were 3%. those cuts were applied to each tax bracket. With the top tax bracket getting a 2.6% cut. Wouldn't be 20%. Perhaps it was at the State level you have gotten that extra tax cut. I don't know, I didn't do your taxes.\n\nThe problem is taxation for most people happens in the way of payroll tax. So in essence, those cuts are distributed along whatever the frequency of your payroll is. Whether it's weekly, bi-weekly, bi-monthly or monthly. \n\nEach pay period that you received a tax cut was money in your pocket that you didn't realize was extra money from the tax cut because it's only 3% of your gross take home pay. Those dollars are out there competing with other people's dollars for goods and services. That competition creates inflation because if you're not willing to pay for something that you think is a high price, someone else may. Judging by the rate of inflation this has happened.\n\nThis is the simple concept of supply and demand. I know you've heard of this concept before. This is it in action. There are other factors however, but they also have to do with too many dollars in the financial system.\n\nSomething, you also have heard is that the tax cuts only benefited the rich. Now you're wondering if it's such a small tax cut, how does it benefit anybody? Even the rich?  If you're already doing fine and inflation really hasn't affected you, which means you're rich. You wouldn't even know what the price of bread is from day to day or even how a disinfectant like Lysol works or what it's for. \n\nWell, the tax cut is in percentage. A percentage of your overall income. So if you get a 1% tax cut on $100, that's $1. If it's $1,000, it's $10. If it's $10,000, it's $100. I don't think I have to elaborate on the idea. The more money you make, the more money you save. The less money you make, the less money you save and you'll never really see the benefit from it if it comes in slow dribbles. \n\nTax cuts are fine. It should have been just done with more precision. Or a different method. This was messy. And most likely was a factor in the rising inflation.",
  "label": "r/economics",
  "dataType": "comment",
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