Vice Presidential Debate

[oncemoreuntothejimbreech]

Bill Barr is still in isolation due to his Covid exposure. Pence is not in isolation for the same exposure.

My daughter, “If I have to be in quarantine for school, they should be in quarantine.”

[Vas Deferens]

(10-07-2020, 11:20 PM)jason Wrote: Flies love shit.

Harris should've said something.

Little guy didn’t even notice a horse fly on him.

[BmorePat87]

Pence is defending "fine people", but remember, it was organized by White Supremacists and their promotional materials for it described it as an event to “end Jewish influence in America".

[Vas Deferens]

(10-07-2020, 11:26 PM)oncemoreuntothejimbreech Wrote: Bill Barr is still in isolation due to his Covid exposure. Pence is not in isolation for the same exposure.

My daughter, “If I have to be in quarantine for school, they should be in quarantine.”

“You think that guy gives 2 ***** about you? Love ya sweetie. Off to bed.”

[Vas Deferens]

Kamala flubbed that one imho. I was hoping for more.

[BmorePat87]

Swats away flies and lies. Get yours today: https://t.co/ehsECKfDPO pic.twitter.com/oVLHHmq85c

— Team Joe (Text JOE to 30330) (@TeamJoe) October 8, 2020

Pitch in $5 to help this campaign fly. https://t.co/CqHAId0j8t pic.twitter.com/NbkPl0a8HV

— Joe Biden (@JoeBiden) October 8, 2020

[*bfine32*]

As I said: I turned it off after about the first 20-30 minutes. Up until that point all I got was


Moderator to Pence: President Trump has done this wrong...what are your thoughts on it?

Moderator to Harris: President Trump has done this wrong...what are your thoughts on it?

Did I miss anything/

[Belsnickel]

My wife watched it while I read a book in another room. Her alternating between disgust and approval was rather amusing.

[Goalpost]

I didn't watch it. Currently watching same channel that thought Biden won the first debate and they are saying Pence won this one.

[BigPapaKain]

(10-08-2020, 07:22 AM)Goalpost Wrote: I didn't watch it.  Currently watching same channel that thought Biden won the first debate and they are saying Pence won this one.

I didn't watch more than 10 minutes of it (retaining my sanity being the primary reason; having to wake up at 5am the other); did America lose again?

[Goalpost]

I watch the business channel in the morning, so they are talking about it from that perspective. They question Biden's tax plan, nobody under 400,000 to get a tax increase, only people over that figure getting one. But Biden's plan calls for an increase in taxes for capital gains which would affect everyone, including those making under 400,000.

[Belsnickel]

(10-08-2020, 07:42 AM)Goalpost Wrote: I watch the business channel in the morning, so they are talking about it from that perspective. They question Biden's tax plan, nobody under 400,000 to get a tax increase, only people over that figure getting one. But Biden's plan calls for an increase in taxes for capital gains which would affect everyone, including those making under 400,000.

My understanding is that the plan includes an increase in capital gain tax at the top tier, which is only impacting those with a taxable income over $434,550.

[BmorePat87]

(10-08-2020, 07:42 AM)Goalpost Wrote: I watch the business channel in the morning, so they are talking about it from that perspective. They question Biden's tax plan, nobody under 400,000 to get a tax increase, only people over that figure getting one. But Biden's plan calls for an increase in taxes for capital gains which would affect everyone, including those making under 400,000.

The Tax Foundation’s analysis of his capital gains increase stated that his plan only raises the capital gains rate for those making over $1m.

[Goalpost]

(10-08-2020, 08:14 AM)BmorePat87 Wrote: The Tax Foundation’s analysis of his capital gains increase stated that his plan only raises the capital gains rate for those making over $1m.

Andrew Ross Sorkin is probably the left leaning guy on CNBC in the morning,  Joe Kernen is more to the right,  Becky Quick is probably more in the middle.  It's Sorkin who made the comment.  Either way, I highly recommend people watch CNBC in the morning.  

[Belsnickel]

(10-08-2020, 08:31 AM)Goalpost Wrote: Andrew Ross Sorkin is probably the left leaning guy on CNBC in the morning,  Joe Kernen is more to the right,  Becky Quick is probably more in the middle.  It's Sorkin who made the comment.  Either way, I highly recommend people watch CNBC in the morning.  

The Tax Foundation, the one Pat mentioned, is a center-right leaning think tank that is widely seen as non-partisan. I would take their word on this over anyone on any news network.

[masonbengals fan]

Although recently retired I was still working when Trump's administration tax cuts passed. My paycheck went up, if I remember correctly maybe a little over $100 a month after taxes. Not a huge increase but everything helps in this day & age. I wasn't alone either everyone that I know of got a raise.

If this is repealed how could that not be considered raising taxes ?

I thought Pence did well.

[CJD]

I didn't watch, but it seems the biggest winner of the night was the fly. Huge buzz on twitter.

[BmorePat87]

(10-08-2020, 08:31 AM)Goalpost Wrote: Andrew Ross Sorkin is probably the left leaning guy on CNBC in the morning,  Joe Kernen is more to the right,  Becky Quick is probably more in the middle.  It's Sorkin who made the comment.  Either way, I highly recommend people watch CNBC in the morning.  

(10-08-2020, 08:36 AM)Belsnickel Wrote: The Tax Foundation, the one Pat mentioned, is a center-right leaning think tank that is widely seen as non-partisan. I would take their word on this over anyone on any news network.

The Tax Foundation could be wrong or Sorkin may have assumed the rate raise was universal and not just on $1m+, but the Tax Foundation noted that merely raising the rate would lose money as people would just wait to cash out, suggesting a $2b loss.

They did go on, however, to say that the tax plan's elimination of step-up basis would help to end some loopholes with transfering of assets during death, so that would bridge the $2b gap and generate revenue. The loss of tax revenue in capital gains from transfers at death lose the US about $40b a year, but we won't get all of that. It'll depend on how this elimination is structured.

Their final analysis is that the plan could lead to less investments and lower incomes, though whether or not that will actually happen is debatable, especially considering that the latest tax cut was suppose to raise those things but hasn't.

https://taxfoundation.org/joe-biden-tax-proposals/

[CJD]

(10-08-2020, 09:18 AM)masonbengals fan Wrote: Although recently retired I was still working when Trump's administration tax cuts passed. My paycheck went up, if I remember correctly maybe a little over $100 a month after taxes. Not a huge increase but everything helps in this day & age. I wasn't alone either everyone that I know of got a raise.

If this is repealed how could that not be considered raising taxes ?

I thought Pence did well.

I can only speak to my personal experience, but my paycheck also went up by about 20 dollars a paycheck, or ~40 dollars a month. But then my refund was about 400 dollars less than it was the year prior with my finances remaining approximately the same. So I got maybe 80 dollars out of the deal?

I'm not a tax expert, but I remember at the time I read an article that said a lot of that gained money in paychecks was not because taxes were being lowered but because withholding thresholds were being lowered. So you felt like you got a tax cut when you really didn't. I'm not sure if that was true across the board, but it seems to have been the case with me.

And then the following year, I got slammed with a huge tax bill, owing about 2000 dollars, again with very little changes to my finances outside of a marginal raise, probably related to that lowered withholding limit. I didn't adjust my withholding between years, so I can't think of any other reason.

This is all anecdotal evidence, but I'm relatively certain I'd benefit greatly from them reverting that tax change haha.

Also, the Trump tax change did some pretty awful things regarding property tax and the personal exemption. If I remember correctly, if you pay more than $10,000 in property tax per year, you probably lost money in the tax change because they capped how much property tax you were allowed to deduct from your taxes.

And that doesn't even account for the massive cuts the wealthiest people in the country got. For the first time ever, the wealthiest people in the country actually paid the lowest tax rate in the entire country, across all levels of wealth.


That just doesn't seem right to me, personally.

[GMDino]

(10-08-2020, 09:45 AM)Crazyjdawg Wrote: I can only speak to my personal experience, but my paycheck also went up by about 20 dollars a paycheck, or ~40 dollars a month. But then my refund was about 400 dollars less than it was the year prior with my finances remaining approximately the same. So I got maybe 80 dollars out of the deal?

I'm not a tax expert, but I remember at the time I read an article that said a lot of that gained money in paychecks was not because taxes were being lowered but because withholding thresholds were being lowered. So you felt like you got a tax cut when you really didn't. I'm not sure if that was true across the board, but it seems to have been the case with me.

And then the following year, I got slammed with a huge tax bill, owing about 2000 dollars, again with very little changes to my finances outside of a marginal raise, probably related to that lowered withholding limit. I didn't adjust my withholding between years, so I can't think of any other reason.

This is all anecdotal evidence, but I'm relatively certain I'd benefit greatly from them reverting that tax change haha.

Also, the Trump tax change did some pretty awful things regarding property tax and the personal exemption. If I remember correctly, if you pay more than $10,000 in property tax per year, you probably lost money in the tax change because they capped how much property tax you were allowed to deduct from your taxes.

And that doesn't even account for the massive cuts the wealthiest people in the country got. For the first time ever, the wealthiest people in the country actually paid the lowest tax rate in the entire country, across all levels of wealth.


That just doesn't seem right to me, personally.

We had a similar experience and had to adjust our withholdings.  That was part of the issue with the tax cuts was there was very little guidance for how it would affect your tax returns.