Trump's Tax Plan

[zoogs]

Lol.

[Danny Bateman]

9 minutes ago, FrankWheeler said:

 

The local property tax deduction is now capped at $10,000.

 

How does this affect people who have less money? Those who are wealthier?

[FrankWheeler]

Here is a good calculator:  https://www.washingtonpost.com/graphics/2017/business/what-republican-tax-plans-could-mean-for-you/?utm_term=.e910bbd20982  

 

The truth is, this will be a moderate tax cut for the majority and a huge tax cut for Americans that are in the top 50%.  The greater concern should be on the deficit and what will be on the chopping block next year in regards to Medicare and Medicare.  The bottom 50% of Americans, including most Seniors, will be hurt by this tax cut in the long term.  

[BigRedBuster]

8 minutes ago, 45timesbetterthanemptysuit said:

Our country is in better shape than it has been in years.

 

I am interested in knowing specifics of what you are talking about.

 

FYI...there are lots of Trump voters that are saying they wouldn't vote for him again.

 

Trump's favorable rating is in the 30s.  That's lower than the number that voted for him.

[45timesbetterthanemptysuit]

14 minutes ago, BigRedBuster said:

 

45....I would like to get off on a better foot with you.  I would prefer good discussion which usually happens on this board.

 

Can you show me where the above is true in this tax bill?  Every analysis I have seen shows the percentage of after tax income increase, increases as the earrings increase.

Meaning, the more you earn, the higher the percentage of aftertax income you gain.

 

 

The high earners, particularly the top 1% and above, should get the greatest cut. It is hardly fair that 1% of our country pay 40-50% of the taxes. That in no way changes the fact that most middle class will see a real tax cut. 

[sho]

1 minute ago, FrankWheeler said:

Here is a good calculator:  https://www.washingtonpost.com/graphics/2017/business/what-republican-tax-plans-could-mean-for-you/?utm_term=.e910bbd20982  

 

The truth is, this will be a moderate tax cut for the majority and a huge tax cut for Americans that are in the top 50%.  The greater concern should be on the deficit and what will be on the chopping block next year in regards to Medicare and Medicare.  The bottom 50% of Americans, including most Seniors, will be hurt by this tax cut in the long term.  

 

On the bright side (?) they won't be around as long to deal with the burden

[FrankWheeler]

Just now, dudeguyy said:

 

How does this affect people who have less money? Those who are wealthier?

 

It depends.  If you live in a state with high property, state or local sales taxes you will be capped at $10,000 for deducting those taxes, there currently isn't any cap.  In some states it is pretty common to pay well over that amount in state or local taxes, which is why California, New York and New Jersey reps all voted against the bill.

[BigRedBuster]

4 minutes ago, 45timesbetterthanemptysuit said:

The high earners, particularly the top 1% and above, should get the greatest cut. It is hardly fair that 1% of our country pay 40-50% of the taxes. That in no way changes the fact that most middle class will see a real tax cut. 

 

Thanks for the honest answer on your feelings on this.  Usually that's not the case when I ask these questions.

 

So, to clarify, you are fine with someone making 10,000,000 having 4% more after tax income while someone making 50,000 having 2% more after tax income.

 

Also, are you concerned at all about adding 1.4 trillion+ to the deficit?  If not, why isn't the Republican party concerned about this anymore?

Edited December 20, 2017 by BigRedBuster

[zoogs]

 what will be on the chopping block next year in regards to Medicare and Medicare.

 

This especially.

 

There's a benefit to getting back a few more dollars a year. Or hundreds, or a couple thousand. On the other hand, you get the government you pay for. That language can actually be an impediment -- by government we're not talking about Orweillian agents in suits, unless those are the kinds of ways your preferred politicians intend to expand government. It's where and how public resources are allocated. Some things are much better done, or only possible, using pooled public resources. This is something where pocket money for consumers can't move the needle, and can't come close to making up what will be lost to them. As with any allocation of course, it's an imperfect and not lossless process. 

 

https://www.theatlantic.com/business/archive/2017/07/canada-america-taxes/533847/

[45timesbetterthanemptysuit]

1 minute ago, BigRedBuster said:

 

I am interested in knowing specifics of what you are talking about.

 

FYI...there are lots of Trump voters that are saying they wouldn't vote for him again.

 

Trump's favorable rating is in the 30s.  That's lower than the number that voted for him.

Specifically, virtually everything. What is worse now than it was last year? GDP up, stock market up, unemployment down, corporate and consumer confidence higher than its been in years. ISIS feeding virtually all territory, efforts to stop the Norks from there pursuit of an effective ICBM, illegal immigration down. This seems to have been an amazing year regardless of what metrics are used. 

[FrankWheeler]

1 minute ago, zoogs said:

 

 

 

This especially.

 

There's a benefit to getting back a few more dollars a year. Or hundreds, or a couple thousand. On the other hand, you get the government you pay for. That language can actually be an impediment -- by government we're not talking about Orweillian agents in suits, unless those are the kinds of ways your preferred politicians intend to expand government. It's where and how public resources are allocated. Some things are much better done, or only possible, using pooled public resources. This is something where pocket money for consumers can't move the needle, and can't come close to making up what will be lost to them. As with any allocation of course, it's an imperfect and not lossless process. 

 

https://www.theatlantic.com/business/archive/2017/07/canada-america-taxes/533847/

 

Meant Medicaid and Medicare, but I think you understand.  

[45timesbetterthanemptysuit]

3 minutes ago, BigRedBuster said:

 

Thanks for the honest answer on your feelings on this.  Usually that's not the case when I ask these questions.

 

So, to clarify, you are fine with someone making 10,000,000 having 4% more after tax income while someone making 50,000 having 2% more after tax income.

 

Also, are you concerned at all about adding 1.4 trillion+ to the deficit?  If not, why isn't the Republican party concerned about this anymore?

I am absolutely fine with that. I don’t think it’s gone far enough. Regarding the deficit, I have accepted the immutable truth drummed into my soul for the last 8 years that deficits are nothing to be concerned about. 

[knapplc]

5 minutes ago, 45timesbetterthanemptysuit said:

I have accepted the immutable truth drummed into my soul for the last 8 years that deficits are nothing to be concerned about. 

 

It's always nice to see people tacitly admit that the Democrats were right all along.

[BigRedBuster]

16 minutes ago, 45timesbetterthanemptysuit said:

Specifically, virtually everything. What is worse now than it was last year? GDP up, stock market up, unemployment down, corporate and consumer confidence higher than its been in years. ISIS feeding virtually all territory, efforts to stop the Norks from there pursuit of an effective ICBM, illegal immigration down. This seems to have been an amazing year regardless of what metrics are used. 

 

A)  Our respect in the world has gone down

B)  Relationships with our best allies has gone down

C)  Nothing has changed on coming up with an actual fix on healthcare

D)  The vast divisions in America are much wider

E)  Nazi's feel proud and secure enough to march in American streets along with the KKK.....because they are emboldened by the President

F)  The civil discourse in America is at an all time low with a President who is a sexual predator who has no ability to carry on a civil discussion about issues.

G)  1.4 trillion added to the deficit

H)  Millions of Americans losing healthcare with no plan that actually fixes the problem

I)   The Boys Scouts having to apologize to their members after the President addresses the kids in the organization

J)  The police union having to apologize and distance themselves from the President after comments made to their convention

K)  The President having lack of respect for American law enforcement (FBI) simply because they are investigating him while demonizing people who protest law enforcement non-violently, the actions of law enforcement in their neighborhoods.

L)  Closer to nuclear war now than before.

M)  The President trusting the leader of our biggest advisory who every intelligence agency in America claims meddled in our election.....more than our own intelligence agencies.  

 

I'm sure I can come up with more. 

 

Along with that, the GDP, stock market, unemployment, corporate earnings...etc.....all started on this trajectory years ago.

Edited December 20, 2017 by BigRedBuster

[BigRedBuster]

44 minutes ago, 45timesbetterthanemptysuit said:

The people that will be adversely affected are the relatively wealthy and the people with exceptionally high state and local taxes.

 

I'm confused.

 

17 minutes ago, 45timesbetterthanemptysuit said:

The high earners, particularly the top 1% and above, should get the greatest cut. It is hardly fair that 1% of our country pay 40-50% of the taxes. That in no way changes the fact that most middle class will see a real tax cut.