May I take the opportunity to kiss Biff's ass and give him credit for this year's great okra production?
Trump tax plan....
- Thread starter BIGOSUFAN
- Start date
The articles I've read (CNBC) highlights that the big winner in the tax bill as being rental property owners due to the pass through benefits, but to be fair, due to my family situation I can't capitalize on it (my step-daughter lives in the home that I would normally be renting), so haven't analyzed it myself very closely.
Hope he is successful in making effective reductions in entitlements. Would be a great follow-up win after this tax plan victory. Of course, the MSM will use your terms of a “crusade to destroy”, so low-information voters will look at it as a negative.
Lots of things we need to do as a country that are tough to explain to the public. And doubly tough with low-information voters who faithfully listen to the liberal media.
People want free stuff and when that is curtailed and more effectively managed there is no doubt people will complain. Shoot, I just finished listening to a leftist greedy dolt on a CNN panel who admitted she knew her family would see about $1k to $1200 in less taxes, but was mad because other people, who earned more than her and pay a lot more in taxes, would get a larger tax break.
Wait...so someone admits their family is rich enough already, and doesn’t need this tax cut...and that’s a bad thing?
If that is how you interpreted my statement then I explained the CNN panelist poorly or you are reading into it.
The person wasn’t saying they didn’t need the tax cut, they were whining that their tax cut wasn’t as large as the neighbors. Greed and envy are ugly.
Which is exactly why this plan makes no sense. Why are we giving the rich 26,000 more for every million? That’s almost half the total annual median household income in all of America. If anything, it shows how honest Republicans are about their greed, doesn’t it?
Why are we giving??? Are you being serious?
You do realize it is THEIR money!! They earned it. The government is not giving it to them. The government is simply not taking as much from them. And a majority of American tax payers will see a reduction in taxes.
This is the opposite of government greed.
I think you grossly overestimate the impact on the middle class, who will see a negligible real difference. According to this calculator, a married head of household with 2 kids making 25-75K isn’t doing much better, and isn’t that who should be keeping most of their money?
Also...and this seems to just inexplicably escape the thought process of Republicans...the government needs sufficient revenue to operate. “Less government, less taxes are better” blah blah blah...why are our leading think tanks and banks dubious of these claims of growth? Maybe because it’s unrealistic, and it’s not going to all of a sudden spark a new wave of consumer spending. America isn’t instanteously needing that much more goods and services.
The mental gymnastics on this board right now are simply uncanny.
https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html
They do keep the most of their money. In percentages, by far - and it is not even close. Do you not understand our current tax rates and tax rates in the new bill?
We have similar "family situations" - just hope yours doesn't include a worthless baby daddy...
I'll sign up as a "leftist greedy dolt" - the consensus on the various tools out there is I will save about $20k under the new plan AND I will get to keep the carried interest benefit. Big $ win. Don't like the plan. My eldest making about 1/12th what I do will get about $200 in savings - that is 1% of the benefit I will. @cableok can do the math, but even on a percentage basis I am 10x ahead of her...
What percent of your tax bill is saved and what percent of her tax bill is saved?
You should receive a larger $$ amount in taxes. You pay thousands upon thousands more in taxes.
But I do agree that the carried interest loophole should have been closed. Carried interest in not a cap gain and should instead be treated like ordinary income. There were a couple of misses on this tax bill and that was one, IMO.
Not a fan of progressive income taxation I take it... Big fan of sales tax instead?
No, not a fan of progressive taxation. I don’t believe we should take more of someone on a percentage basis. Flat or fair tax for me.
National sales tax may have a suppression on economy.
Maybe in your specific case it is even more on a percentage basis, but that would be an anomaly.
Take a family of four that makes $300k. They pay $60k in taxes. They get a $5600 tax cut according to an online tax calculator. So a 9% reduction.
Now take a family of four that makes $75k. They pay $7k in taxes. They get a $910 tax cut. A 13% reduction.
He is serious. That's how he (and too many others) think. It's a mental disease.
LOL...let’s see...I’ve got 2 teams to pick from here:
1) Conservatives like yourself
2) Joint Committee on Taxation
Tax Policy Center
Brookings Institution
Wharton School of Business
Goldman Sachs
Federal Reserve
Yes...my mental disease of being on the winning team. Ohhhh, but I’m not accounting for that amazing 3+ percent annual growth you all latch on and cling to - hope and change, right?
As usual, you've misunderstood and made a moronic ass of yourself. A discussion about whether this tax plan is well conceived or good policy is very different from starting with the notion that the government is giving money to individuals who will, in reality, be keeping more of their earned income through paying a lower tax rate.
You think you are being clever and articulate. You aren't.
See the difference in your opinion and mine is that Republicans just wanted to reduce the tax burden flatly across the board (everyone pays less), where as Democrats want tax reduction to bend the progressiveness of the tax curve even further.
I have an idea for those that do not like the new tax bill. It is simple.
When you file your taxes for the 2018 year, just use the old tax bracket calculations to pay what you owe. I am certain the IRS will not be mad (or at least for nearly 90% of the population).
When you file your taxes for the 2018 year, just use the old tax bracket calculations to pay what you owe. I am certain the IRS will not be mad (or at least for nearly 90% of the population).
I don't have a problem with the tax cuts, but I was just hoping for reform. Paul Ryan said that there are tax incentives for companies to hire American workers. Does anyone know what that is? My experience working at very large companies doesn't give me any faith that they will do the right thing. However, I'm hoping I'm wrong.
Except the Democrats "progressive" tax curve always lands right on the middle class while they chirp about the rich paying their fair share.
During the progressive Obama administration, the rich got richer, the poor got poorer, and more people joined the ranks of the poor. The middle class who avoided joining the ranks of the poor lived in relative stagnation.
The only real reform that can happen is to either reign in spending, or at least own up to the spending that's being done. But that's a challenge that neither side (Rs or Ds) want to address.
You are arguing the merits of progressive taxation, which I agree with but are a different point (imo). The loudest chirping about this tax cut from the left and the media is that the rich get breaks too, rather than them being soaked to pay for tax elimination for the poorest classes.
He's alright. He's had his share of challenges which put him in a different financial situation than myself but he could have done more when she was younger.
Under appreciated by the Trumpets in all this is the good people of China who will be underwriting the $1.5 Trillion USD required to make this all work. Bravo China. Thanks for the loan...
Yeah, Trump won't have the Fed Hoovering up 7+ trillion over 8 years like Obama did.
We could of course print our way out of it, but to what end?
Serious question, at what point does the federal deficit cause you concern?
When demand for goods and services exceed the capacity to produce this goods and services on s persistent basis.
I promise we don't depend on China.
These folks see that Germany won't be winning from the new US tax rates like they did previously. Interesting concept, making the US more attractive for domestic and international investment. Weird that anyone but our competition sees that as a negative.
http://www.zew.de/en/presse/pressea...eform/?cHash=75addafc432190cf3c257046de2fb167
http://www.zew.de/en/presse/pressea...eform/?cHash=75addafc432190cf3c257046de2fb167
