What does the new Tax Bill do?

[Biff41]

Good. Charities and churches are the biggest scams around. There should be no tax-free organizations.

Bush W figured out u could reduce welfare costs by coordinating with private charities. Moneys wasted gourmet petfood or junk pet rescues on animals better off euthanized could be better used.

[Thor4140]

Are you kidding? States like CA/NY send way more to the feds than they get back, esp as compared to other states w/o income tax. You have it ass backwards.

What do they have that isn't ass backwards?

[RoyBacon]

Say you live in Cali making $200k with a decent property and a mortgage. That can easily be $45-50k deductions that you can't deduct anymore. Your taxes are going up.

Well if you have $50k is salt deductions and only make $200k you screwed yourself. It's fact 80% will see their personal taxes go down. It really helps lower middle class the most up to $50k. But yea if you make $200k and pay $15k state income and $35k in property tax you might not see much reduction. Your exemption will double and your tax rate is lower and you can still write off $10k of your $50k in salt so you may break about even or save a little.

[Mr KLC]

You realize that CA pays out more than it receives in Federal money and is the #1 State in Federal tax contributions by double, right?

If you have a high population, then it makes sense that more money would come from the state? So what! They are up there near the top in state taxes, but yet have a giant deficit. That's their problem.

[brooks85]

What do they have that isn't ass backwards?

lol this is why this forum is so great for comedy. Watching a liberal think he isn't being a jackass is hilarious.

[DABOOK]

"The Trump-Republican tax plan is one of the worst pieces of legislation in the modern history of our country. At a time of massive income and wealth inequality, 83 percent of the tax benefits in that bill go to the top 1 percent at the end of 10 years and 60 percent of the benefits go to the top one-tenth of 1 percent. On the other hand, by the end of the decade, 92 million middle-class Americans will actually be paying more in taxes, including 8 million in the first year alone. Further, this legislation will result in 13 million people losing their health insurance while substantially raising premiums all across the country. It also raises the deficit by $1.4 trillion, laying the groundwork for House Speaker Paul Ryan and other Republicans to call for cuts to Social Security, Medicare, Medicaid and other important programs in the name of 'deficit reduction.'
"Instead of this grossly obscene piece of legislation, let's pass tax reform that permanently benefits all middle-income and working-class families without giving tax breaks to the top 1 percent. Instead of providing huge tax breaks to the rich and large corporations that explode the deficit, which this bill does, millionaires, billionaires and large, profitable corporations must begin paying their fair share of taxes. Then, among other things, we can permanently double the standard deduction, expand the Earned Income Tax Credit, re-instate the personal exemptions and make the Child Tax Credit fully refundable – without increasing the debt future generations will inherit."

[rkelly110]

[RoyBacon]

Dam kelly, you guys make up your mind! Thought Trump wasn't successful businessman, how could he saving $20 million .

[DABOOK]

Dam kelly, you guys make up your mind! Thought Trump wasn't successful businessman, how could he saving $20 million .

You forgot that he inherited 200 Million from Daddy. He could have stayed home and mowed his lawn his whole life and made that into billions with safe investments in mutual funds. Fact.

[klemopixx]

The losers sound like a bunch of people who don’t matter..

As this thread has proved, we now live in a country dominated by the thinking "Well I got mine, screw everyone else!"

There's only problem with that mind set. We all inhabit the same space. In a few years the poor will be so much poorer that crime will overtake most inner cities. The middle class will slowly lose their wealth to higher healthcare costs and higher education costs for their children. And numbers-wise, there will be LOTS of poor people.

But heck, as long as they keep rigging the voting booths, there's nothing to worry about right?

America will look like Cuba in about 20 years. A f#cking ghetto.

[RoyBacon]

You forgot that he inherited 200 Million from Daddy. He could have stayed home and mowed his lawn his whole life and made that into billions with safe investments in mutual funds. Fact.

Wow what a shock another intellectually dishonest basis! What a shock!

His dad died in 1999 worth $250 which was divided up among the family. So you are saying he could turn $100 million into $5 billion($9 billion by some accounts) in 18 years making a safe return of what 5%?

Again, what would it hurt to start with an honest basis? Doesn't exaggerate your argument enough? At least it wouldn't be fake.

[ericc]

Yeah. Trump and the Republicans stuck it to those big Blue States. Not an accident. They knew what they were doing.

It is as if they know what they are doing because they don't know what they are doing, which means things are looking up and not by accident.
MAGA

[brooks85]

tax bill changes the free agent game for nfl and nba too. All about the money and going to CA now is a huge hit.

[Biff41]

Gov Cuomo blasted the tax bill because NY will lose state tax deductions. He conveniently forgot to explain that despite huge Wall Street and corporate revenues, why does NY tax the fork out of its residents way higher than other states to begin with

[RoyBacon]

Gov Cuomo blasted the tax bill because NY will lose state tax deductions. He conveniently forgot to explain that despite huge Wall Street and corporate revenues, why does NY tax the fork out of its residents way higher than other states to begin with

Heard him. He also forgot to mention the dems played obstructionists and got their shat packed in because of it. Republicans had exactly zero senators in dem controlled states. So play your obstruction game but gawd almighty don't cry when get your shat packed in.

Dems had a false sense after Obamacare repeal failed. They played tax reform totally wrong and now they are paying and crying.

[PAULYPOKER]

As this thread has proved, we now live in a country dominated by the thinking "Well I got mine, screw everyone else!"

There's only problem with that mind set. We all inhabit the same space. In a few years the poor will be so much poorer that crime will overtake most inner cities. The middle class will slowly lose their wealth to higher healthcare costs and higher education costs for their children. And numbers-wise, there will be LOTS of poor people.

But heck, as long as they keep rigging the voting booths, there's nothing to worry about right?

America will look like Cuba in about 20 years. A f#cking ghetto.

Great post but will be ignored because it questions both sides of the aisle
and REAL issues as SBR posters and rest of US pick sides, draw blood and fight over absolutely
nothing or non issues as MSM subliminally instructs them to do so...............

[DwightShrute]

Great post but will be ignored because it questions both sides of the aisle
and REAL issues as SBR posters and rest of US pick sides, draw blood and fight over absolutely
nothing or non issues as MSM subliminally instructs them to do so...............

Prediction: You will vote for Trump in 2020

also, you will buy and wear one of those Maga hats

[rkelly110]

Heard him. He also forgot to mention the dems played obstructionists and got their shat packed in because of it. Republicans had exactly zero senators in dem controlled states. So play your obstruction game but gawd almighty don't cry when get your shat packed in.

Dems had a false sense after Obamacare repeal failed. They played tax reform totally wrong and now they are paying and crying.

Dems tried putting amendments in. Your boys said fuk you, we will do it alone. Unlike your boys of 8 years of obstruction.

http://www.washingtonexaminer.com/democrats-zero-in-on-healthcare-with-amendments-to-senate-tax-bill/article/2640852

[chico2663]

Wow what a shock another intellectually dishonest basis! What a shock!

His dad died in 1999 worth $250 which was divided up among the family. So you are saying he could turn $100 million into $5 billion($9 billion by some accounts) in 18 years making a safe return of what 5%?

Again, what would it hurt to start with an honest basis? Doesn't exaggerate your argument enough? At least it wouldn't be fake.

No what he is saying that fred trump allowed donald to borrow 14 million against freds existing properties.when fred died those properties were taken over by banks.also he had a stock scandle that he took from 13.00 to nothing but he bled the company dry. Then they allow him to take losses on that stock which he never invested one penny in

[RoyBacon]

Dems tried putting amendments in. Your boys said fuk you, we will do it alone. Unlike your boys of 8 years of obstruction.

http://www.washingtonexaminer.com/de...rticle/2640852

The process started in June. They did not come on CNN and say we are ready to deal. Even your own article states it like this "Democrats on the panel offered several amendments to slow or undo the tax bill, the Tax Cuts and Jobs Act..". I'm not talking about trying to derail it, I'm talking about coming in and saying yes let's get this done we want to join on.

[jtoler]

Prediction: You will vote for Trump in 2020

also, you will buy and wear one of those Maga hats

lol

[RoyBacon]

No what he is saying that fred trump allowed donald to borrow 14 million against freds existing properties.when fred died those properties were taken over by banks.also he had a stock scandle that he took from 13.00 to nothing but he bled the company dry. Then they allow him to take losses on that stock which he never invested one penny in

OK that sounds as fake as Russian collusion but even taken that as fact how could he amass a $6 billion dollar empire if he was not a great business man? You guys do know how much return you would need to turn $60 million into $6 billion right? I could break it down for you just let me know.

[rkelly110]

The process started in June. They did not come on CNN and say we are ready to deal. Even your own article states it like this "Democrats on the panel offered several amendments to slow or undo the tax bill, the Tax Cuts and Jobs Act..". I'm not talking about trying to derail it, I'm talking about coming in and saying yes let's get this done we want to join on.

Something that big needed to be slowed down and thought out, not rush it through to appease their donors.
The bill was conceived behind closed doors. Many Repubs were left out. They only brought it to the floor knowing
they had the votes. So don't say the Dems were obstructing. More underhandedness from your boys with more to come.

[RoyBacon]

Something that big needed to be slowed down and thought out, not rush it through to appease their donors.
The bill was conceived behind closed doors. Many Repubs were left out. They only brought it to the floor knowing
they had the votes. So don't say the Dems were obstructing. More underhandedness from your boys with more to come.

You might be so lacking knowledge on the subject that you believe what you say, but I seriously doubt it.

Trump campaigned on it. He won. It's a MSM myth it was rushed through. It's been worked on since January. Dems sit on the committee that heard dozens of witnesses and scored numerous times by many agencies over many months.

The only thing that happened at the last minute is dems trying to derail it after their plan to all vote no looked likely to fail.

I don't mind the politics of obstruct and delay. But when you lose you really have to come out and cry it was rushed through and poor dems never had a chance to work with republicans? Really? So classless. Have a little more class when you lose for gawds sake.

[brooks85]

]You might be so lacking knowledge on the subject [/B]that you believe what you say, but I seriously doubt it.

Trump campaigned on it. He won. It's a MSM myth it was rushed through. It's been worked on since January. Dems sit on the committee that heard dozens of witnesses and scored numerous times by many agencies over many months.

The only thing that happened at the last minute is dems trying to derail it after their plan to all vote no looked likely to fail.

I don't mind the politics of obstruct and delay. But when you lose you really have to come out and cry it was rushed through and poor dems never had a chance to work with republicans? Really? So classless. Have a little more class when you lose for gawds sake.

well rkelly has specifically admitted he likes to post on subjects he doesn't know anything about.

[brooks85]

Something that big needed to be slowed down and thought out, not rush it through to appease their donors.
The bill was conceived behind closed doors. Many Repubs were left out. They only brought it to the floor knowing
they had the votes. So don't say the Dems were obstructing. More underhandedness from your boys with more to come.

even though you are an admitted liar and an admitted hypocrite this post just really proves what a scumbag you are

[rkelly110]

You might be so lacking knowledge on the subject that you believe what you say, but I seriously doubt it.

Trump campaigned on it. He won. It's a MSM myth it was rushed through. It's been worked on since January. Dems sit on the committee that heard dozens of witnesses and scored numerous times by many agencies over many months.

The only thing that happened at the last minute is dems trying to derail it after their plan to all vote no looked likely to fail.

I don't mind the politics of obstruct and delay. But when you lose you really have to come out and cry it was rushed through and poor dems never had a chance to work with republicans? Really? So classless. Have a little more class when you lose for gawds sake.

I already proved to you the Dems offered up. Then you post this.

Maybe read this about donors and why the tax bill was rushed through.

https://www.usnews.com/news/politics/articles/2017-06-26/koch-urgency-conservative-network-fears-closing-window

Texas-based donor Doug Deason has already refused to host a fundraiser for two members of Congress and informed House Majority Leader Kevin McCarthy, R-Calif., his checkbook is closed as well.

"Get Obamacare repealed and replaced, get tax reform passed," Deason said in a pointed message to GOP leaders. "You control the Senate. You control the House. You have the presidency. There's no reason you can't get this done. Get it done and we'll open it back up."

At least one Koch official warned that the Republican Party's House majority could be in jeopardy if the GOP-led Congress doesn't follow through.

"If they don't make good on these promises ... there are going to be consequences, and quite frankly there should be," said Sean Lansing, chief operating officer for the Koch network's political arm, Americans For Prosperity

[RoyBacon]

Kelly did you ever hear the Cheech and Chong skit "Dave"? That's what I feel like .

So you do now understand nothing was rushed? The finance committee has worked on this bill for a half a year. O phew, 1 msm myth dispelled.

Yes, like every bill passed in history, special interests to some degree entered. And of course big donors echoed what the msm and even posters on SBR were saying; Republicans must do this or they will be destroyed.

It's the last sentence above why the dems stuck together and did all they could to prevent tax reform. But they lost. Can we just call things truthful for a while?

[rkelly110]

Whatever Roy. So long as I stay true to myself is all that matters.

[DwightShrute]

Whatever Roy. So long as I stay true to myself is all that matters.

[flakeandbake]

It's going to cut down on corporate lending. Previously interest paid on bonds was fully deductible for big corps and now only up to 30% EBITA is fully deductible.

This will probably decrease company earnings because if you think about how simple it has been for big corps to get cheap loans and then fully deduct the interest (this will decrease that deduction and therefore increase tax liability which decreases income). I don't work on wall street but I know the bond shops aren't happy about it.

The counter argument would be that big corps are now strong enough to handle this and that it would help the economy not overheat into more of a bubble.

This is 1 key takeaway of many.

[DwightShrute]

"The Trump-Republican tax plan is one of the worst pieces of legislation in the modern history of our country. At a time of massive income and wealth inequality, 83 percent of the tax benefits in that bill go to the top 1 percent at the end of 10 years and 60 percent of the benefits go to the top one-tenth of 1 percent. On the other hand, by the end of the decade, 92 million middle-class Americans will actually be paying more in taxes, including 8 million in the first year alone. Further, this legislation will result in 13 million people losing their health insurance while substantially raising premiums all across the country. It also raises the deficit by $1.4 trillion, laying the groundwork for House Speaker Paul Ryan and other Republicans to call for cuts to Social Security, Medicare, Medicaid and other important programs in the name of 'deficit reduction.'
"Instead of this grossly obscene piece of legislation, let's pass tax reform that permanently benefits all middle-income and working-class families without giving tax breaks to the top 1 percent. Instead of providing huge tax breaks to the rich and large corporations that explode the deficit, which this bill does, millionaires, billionaires and large, profitable corporations must begin paying their fair share of taxes. Then, among other things, we can permanently double the standard deduction, expand the Earned Income Tax Credit, re-instate the personal exemptions and make the Child Tax Credit fully refundable – without increasing the debt future generations will inherit."

[EmpireMaker]

Kelly did you ever hear the Cheech and Chong skit "Dave"? That's what I feel like .

So you do now understand nothing was rushed? The finance committee has worked on this bill for a half a year. O phew, 1 msm myth dispelled.

Yes, like every bill passed in history, special interests to some degree entered. And of course big donors echoed what the msm and even posters on SBR were saying; Republicans must do this or they will be destroyed.

It's the last sentence above why the dems stuck together and did all they could to prevent tax reform. But they lost. Can we just call things truthful for a while?

You are a delusional MORON. Stop watching Fox Faux News for a minute and take your head out of your ass.

[flakeandbake]

Also you guys care way too much about politics, which is fitting, since no one here has stated a single real fact and just goes off their gut/local newspaper.

Economic Facts > Political Reasoning

#SAD

[rkelly110]

Also you guys care way too much about politics, which is fitting, since no one here has stated a single real fact and just goes off their gut/local newspaper.

Economic Facts > Political Reasoning

#SAD

Waiting to see your "facts".