I think this is the best plan that has come out since Reagan. It will grow small business and help the middle class who has been suffering for decades now.
http://www.foxnews.com/politics/2017...local-tax.html
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11-02-17 06:21 PM #1
Middle class will be the huge winners if this tax plan is passed...
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11-02-17 06:23 PM #2
Yes
We are winning
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11-02-17 06:25 PM #3
And the deficit will be Huuuuuuugggggeee.
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11-02-17 06:27 PM #4
That can be blamed on Obama. No worries.
Originally Posted by Bluehorseshoe
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11-02-17 06:33 PM #5
"would add $1.5 trillion to the nation's debt over the next decade"
fuk off!
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11-02-17 06:37 PM #6
I'm getting fukked.
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11-02-17 06:38 PM #7
errr
Martin Sullivan, chief economist at publisher Tax Analysts. “It looks like the bulk of that money is going to corporations.”
"It would repeal the federal estate tax, which would benefit a small number of wealthy families."
"So any family trying to figure out how they’ll fare under the plan will have to determine their prospects amid a complex matrix of possibilities. It’s simpler on the corporate side, where the cut in rates would be so large as to more than offset proposed reductions in tax breaks for most big companies"
"Tax cut skews toward helping corporations, not individuals"
https://finance.yahoo.com/news/trumps-tax-bill-one-tough-sell-190256005.html
of coarse use the republicans propaganda network to convince the people its in their interest
even worse, to fund this money grab by the rich, they will fund it by taking from the poor, like taking away their healthcare, fukking sheepLast edited by SportsMushroom; 11-02-17 at 06:45 PM.
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11-02-17 06:38 PM #8
but i thought for 8 years we preached that we need to work on the debt? Now not so much because power has changed. Its just so easy to change philosophies when it suits an agenda
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11-02-17 06:38 PM #9
Congrats bro but wait tIl after you are done to post about it Originally Posted by gauchojake
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11-02-17 06:42 PM #10
Anyone have a tax calculator for this new plan?
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11-02-17 06:45 PM #11
yea, kiss any decent credit you had from mortgage interest or student loan interest goodbye... penetrate this tax bill Originally Posted by Otters27
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11-02-17 06:50 PM #12
also maybe link a better article. If you look at the tax rates levels theres very few that are seeing a big difference. If you make under 45k as a single person then yes you go from 25 percent down to 12 percent. But most normal people easily exceed that. and then married couples hardly see a change unless combined theyre under 90k.
Other parts that suck:
property tax deduction capped at 10k
mortgage interest deductions gone unless its a new home and its under 500,000
No deductions for a second home
no write offs of state and local income taxes
Standard deduction might be better but when you start taking all the things that you normally can deduct out of the equation you lose out. Its a spin tax plan that helps the very small income and the corporate businesses. Its too bad.
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11-02-17 06:54 PM #13
Yep Originally Posted by wikkidinsane
rich and corporations get richer.
$1.5 TRILLION hole created = Cuts to Medicare/Medicaid etc
not surprised in the least
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11-02-17 06:57 PM #14
Chuck and Nancy are saying the opposite.. They both probably didn't even read the bill...
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11-02-17 06:59 PM #15
We have to pass the bill to see what's in it. Originally Posted by JIBBBY
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11-02-17 07:03 PM #16
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11-02-17 07:05 PM #17
do middle class married couples only see benefit if they have a bunch of kids basically?
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11-02-17 07:06 PM #18
saw that. what a joke... the silver spoon kids with no debt whatsoever will benefit the most. have had to scratch and claw for the little I do have and ill get hit the most so some clown can have more disposable income to blow on the new Bmw 5 series.. its a damn shame. Originally Posted by Otters27
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11-02-17 07:12 PM #19
Sort of interesting.... the interest isn't deductible on a mortgage... if your loan is $500,000 or greater???
This is very interesting to me.
The cap before was mortgages under a million.
So basically... if you can afford a mortgage over 500,000 you don't qualify to get your interest deducted?
Did I read that right in the plan?
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11-02-17 07:42 PM #20
Has to be prorated in some way Originally Posted by TheMoneyShot
Sort of interesting.... the interest isn't deductible on a mortgage... if your loan is $500,000 or greater???
This is very interesting to me.
The cap before was mortgages under a million.
So basically... if you can afford a mortgage over 500,000 you don't qualify to get your interest deducted?
Did I read that right in the plan?
You get hundreds of thousands deducted on your tax returns over time if it's 500k but nothing if it's 501k? No way
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11-02-17 07:44 PM #21
Usually what happens is that you get the deduction up to the limit so it is pro rated. I obviously have only read what has been published so far so this could be the case. Originally Posted by TheMoneyShot
Sort of interesting.... the interest isn't deductible on a mortgage... if your loan is $500,000 or greater???
This is very interesting to me.
The cap before was mortgages under a million.
So basically... if you can afford a mortgage over 500,000 you don't qualify to get your interest deducted?
Did I read that right in the plan?
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11-02-17 07:52 PM #22
That's the same as single mothers on welfare. Originally Posted by Chi_archie
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11-02-17 07:53 PM #23
There will be creative ways around it but yeah that's a bit nuts. Originally Posted by dlowilly
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11-02-17 07:56 PM #24
Middle class gets fukked as usual. Trump and family save billions.
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11-02-17 08:02 PM #25
It's also crazy how the debt will grow but it always will.
Those that want to eliminate the national debt should realize that at this point every dollar out there was created when it was borrowed.
To eliminate the debt would mean to take the money out of the system.
Obviously controlling those interest payments is a thing for the here and now, but in the end the bankers will win. Elections have been bought and people have died to keep the bankers winning.
The debt will go up, more money will be lent to pay for it, thus increasing the debt and dollars out there. Blame entitlements, blame what expense you will, but debate about raising the debt ceiling when it comes up always comes down to one answer, raise it or shut the government down.
So they raise it.
It's our way of life and we couldn't live it any other way. It's true for all countries with a central bank and every other central bank before the Fed on the US continent went bankrupt, usually with rampant inflation.
The Federal Reserve has a stated goal to inflate the dollar, and keep that inflation at a certain percent.
It's our way of life.
Points Awarded:
teachervido gave KVB 8 Betpoint(s) for this post.
Nomination(s):This post was nominated 1 time . To view the nominated thread please click here. People who nominated: teachervido
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11-02-17 08:09 PM #26
Lol veggie.... Originally Posted by VeggieDog
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11-02-17 08:21 PM #27
Post of the thread Originally Posted by KVB
It's also crazy how the debt will grow but it always will.
Those that want to eliminate the national debt should realize that at this point every dollar out there was created when it was borrowed.
To eliminate the debt would mean to take the money out of the system.
Obviously controlling those interest payments is a thing for the here and now, but in the end the bankers will win. Elections have been bought and people have died to keep the bankers winning.
The debt will go up, more money will be lent to pay for it, thus increasing the debt and dollars out there. Blame entitlements, blame what expense you will, but debate about raising the debt ceiling when it comes up always comes down to one answer, raise it or shut the government down.
So they raise it.
It's our way of life and we couldn't live it any other way. It's true for all countries with a central bank and every other central bank before the Fed on the US continent went bankrupt, usually with rampant inflation.
The Federal Reserve has a stated goal to inflate the dollar, and keep that inflation at a certain percent.
It's our way of life.
This country is infatuated with debt
Good call KPoints Awarded:
brainfreeze gave RangeFinder 1 Betpoint(s) for this post.
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11-02-17 08:26 PM #28
Not Trumps fault... Originally Posted by RangeFinder
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11-02-17 08:31 PM #29
I think if Presidents didn't have to worry about the PR and voter support and just did the job and looked out for the Countries future first over the past 20 years we wouldn't be in debt today....
Bill Clinton actually did a good job of getting and keeping us out of debt.. That's when Democrats actually cared about the future of the Country... Billy not necessarily a roll model for little kids did do a good job with our National Debt..
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11-02-17 08:32 PM #30
You are so correct sir Originally Posted by JIBBBY
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11-02-17 08:52 PM #31
Originally Posted by RangeFinder
This is exactly why it won't pass. The democrats will not allow Trump to do anything productive without melting down and throwing a temper tantrum. The repubs will not allow because Trump is not establishment.
I'm not sure how much he can fix right now until after midterms next year. But damn he's trying, I'll give him that.
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11-02-17 09:11 PM #32
I cant take it any more, iq is dying every day with trump in charge and you guys following him like sheep Originally Posted by hostile takeover
do you realize that the republicans have a majority in the senate AND congress?
that means that republicans can pass anything they want
trumps bills dont pass because they are so horrific, not even his party can support them
not that they dont want to, but they dont want to fak up the people so bad that the republican party becomes unelectable in the future
I hope the tax plan passes, so you can feel first hand how good it is for the little guy
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11-02-17 09:16 PM #33
Voting people know this.. Drain the swamp in the Senate... Nothing passes without the Senates support.. Swamp runs deep.. Originally Posted by hostile takeover
...
When you are on the losing side all you can do is resist.. The end result is nothing passes which makes the President look bad.. The American people suffer.... Sad state of affairs... Trump still winning.. Republicans in the Senate will come around eventually, their very jobs depend on it one would think..
Trump just needs to hang in there and grind it out...Last edited by JIBBBY; 11-02-17 at 09:21 PM.
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11-02-17 09:17 PM #34
All valid points but then for 8 years the Republican Party probably shouldn't of bitch the deficit just because the things they wanted they couldn't get. It's annoying whenever either party is not in charge they bitch that everything will raise the debt but they disregard it when it's their turn to spend. It's just so hypocritical. Originally Posted by KVB
It's also crazy how the debt will grow but it always will.
Those that want to eliminate the national debt should realize that at this point every dollar out there was created when it was borrowed.
To eliminate the debt would mean to take the money out of the system.
Obviously controlling those interest payments is a thing for the here and now, but in the end the bankers will win. Elections have been bought and people have died to keep the bankers winning.
The debt will go up, more money will be lent to pay for it, thus increasing the debt and dollars out there. Blame entitlements, blame what expense you will, but debate about raising the debt ceiling when it comes up always comes down to one answer, raise it or shut the government down.
So they raise it.
It's our way of life and we couldn't live it any other way. It's true for all countries with a central bank and every other central bank before the Fed on the US continent went bankrupt, usually with rampant inflation.
The Federal Reserve has a stated goal to inflate the dollar, and keep that inflation at a certain percent.
It's our way of life.
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11-02-17 09:20 PM #35
republicans have majority in congress and senates, trump cant pass any bills because everything he tries to pass is so bad not even his party can support it Originally Posted by JIBBBY
Voting people know this.. Drain the swamp in the Senate... Nothing passes without the Senates support.. Swamp runs deep.....
When you are on the losing side all you can do is resist.. The end result is nothing passes to better the American people.. Sad state of affairs... Trump still winning.. Republicans in the Senate will come around eventually, their very jobs depend on it one would think..
he did manage to pass the bank protections though, even though it was a 50-50 split in the senate, sounds like trump managed to make the swamp a little bigger
if this corporate tax cut passes, the swamp will overflow
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