2017 "Tax Reform": They'll Screw This Up Too, Right? - Page 26 - Politics and Economics

In fairness, a family of four making $50k probably has a tax burden of about tree fiddy.

YMMV, but I'm guessing there's a reason they used a percentage in that graphic instead of a dollar amount.

10-27-2017 , 10:42 AM

#627

MrWookie

Don't Call Me Meredith

Join Date: Feb 2005 Posts: 94,159

Quote:

Originally Posted by Inso0

In fairness, a family of four making $50k probably has a tax burden of about tree fiddy.

YMMV, but I'm guessing there's a reason they used a percentage in that graphic instead of a dollar amount.

OK, but why should such a family pay ~$50 more so that billionaires can save millions?

10-27-2017 , 11:02 AM

#628

ecriture d'adulte

Pooh-Bah

Join Date: Jan 2017 Posts: 5,913

Quote:

Originally Posted by ecriture d'adulte

In science news, astronomers have likely discoverd the first known object in our Solar system that came from another solar system.

http://www.npr.org/sections/thetwo-w...r-solar-system

Sorry, meant to post in LC. Can a mod move it?

10-28-2017 , 12:50 AM

#629

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 99,984

Quote:

Originally Posted by Inso0

In fairness, a family of four making $50k probably has a tax burden of about tree fiddy.

YMMV, but I'm guessing there's a reason they used a percentage in that graphic instead of a dollar amount.

See - you do do nuance if your heart's in it.

10-30-2017 , 04:49 PM

#630

goofyballer

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 70,719

National Assocation of Home Builders going all-in against tax bill (because it doesn't have a home ownership credit)

Quote:

The National Association of Home Builders, after learning that a “homeownership” tax credit it had wanted will not be in an initial version of the bill, is preparing a nationwide campaign against it. The development underscored just how difficult the prospect of a successful tax overhaul will be, given the complex and competing interests that President Trump and GOP lawmakers are trying to serve.

Also says the bill will be unveiled Wednesday

10-31-2017 , 05:02 PM

#631

awval999

Election Monitor.

Join Date: Mar 2005 Posts: 6,269

It appears my mea cupla is coming.

I will wait for tomorrow to be sure, but the GOP House bill appears to be completely ****ing terrible.

Quote:

House Ways and Means Committee Chairman Kevin Brady said in a radio interview Tuesday with Hugh Hewitt that the final bill won't keep the income tax deduction because "our lawmakers in those high-tax states really believe their families are being punished most by property taxes."

http://www.syracuse.com/politics/ind...tax_break.html

News flash mother ****er, cutting state/local income taxes is just like cutting the property tax deduction. You have to make it over the mountain of the standard deduction for it to matter. By eliminating state/local income tax deduction you make much more difficult for the property tax deduction to even matter.

And don't even get me started on eliminating pre-tax 401(k)s and turning them into a Roth. FUUUUUUUUUUUUUUU.

Fortunately, for anything to pass, it has to get through the much more moderate Senate

Quote:

Sen. Susan Collins (R-Maine) said Monday she hopes "very much to be able to support a tax reform package," but laid out some specific things she wants to see in the legislation. "I do not believe that the top rate should be lowered for individuals who are making more than $1 million a year," Collins told Bloomberg News. "I don't think there's any need to eliminate the estate tax." House Republicans are unveiling their tax bill on Wednesday, and the Senate bill, expected a week later, will be more tailored to win over moderates like Collins and maybe a few Democrats.

http://theweek.com/speedreads/734282...lls-take-shape

Literally I cannot believe the GOP is going to release such a ****ing terrible tax bill. I'm legit going to have to call Portman and my Congresscriter. First time. For this tax bill.

Let's see how many terrible boxes this things checks. Here's a checklist for you all.

Middle Class Pain
[ ] Reduce pre-tax 401(k) deductions
[ ] Remove SALT itemized deductions
[ ] Remove all personal exemptions and change standard deduction to a paltry $24,000 MFJ/$12,000 Single

Rich LOLOLOLOLOLOLOL
[ ] Cut top marginal bracket from 39.6% to 35%
[ ] Eliminate estate tax
[ ] Eliminate AMT

10-31-2017 , 05:11 PM

#632

goofyballer

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 70,719

Quote:

Originally Posted by awval999

Literally I cannot believe the GOP is going to release such a ****ing terrible tax bill.

We told you since ****ing forever that the GOP does not give a **** about people like you and you didn't listen

10-31-2017 , 05:12 PM

#633

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 99,984

OMG who would have thought it? Except you know for the 2 dozen or so posters on here who told you this is exactly what was going to happen from day 1?

10-31-2017 , 05:16 PM

#634

awval999

Election Monitor.

Join Date: Mar 2005 Posts: 6,269

It just doesn't make political sense.

I almost believe, that they actually want to be a minority party. Easier to throw bombs and say "NO!" than govern.

Like literally, do they think people won't notice the 401k changes or the SALT deductions being gone? Like they won't notice come January their paychecks get lower?

The business tax cuts they can "hide". Want jobs. Business to grow. Blah blah. The vast majority of people don't see a business tax return. Whatever.

But the 401ks? ****ing around with itemized deductions. It's like ripping out the heart of the upper-middle (for Victor, the lower-middle) class who will vote those ****ers out. I mean, honestly, the deplorables probably won't even vote in the midterms without Trump on the top of the ticket. You are relying on the suburban/exurban soccer moms and dads to vote GOP for taxes during the midterms. And like you are literally raising taxes on incomes $75-$300k.

10-31-2017 , 05:23 PM

#635

Parlay Slow

Carpal \'Tunnel

Join Date: Nov 2003 Posts: 8,122

Eh, they'll all still vote GOP.

10-31-2017 , 05:28 PM

#636

awval999

Election Monitor.

Join Date: Mar 2005 Posts: 6,269

Quote:

Originally Posted by Parlay Slow

Eh, they'll all still vote GOP.

There's obviously a point where they won't.

They won't vote for GOP if their taxes go up X%

There's a breaking point.

What X is, I don't know.

10-31-2017 , 05:29 PM

#637

Riverman

Carpal \'Tunnel

Join Date: Apr 2003 Posts: 73,135

AWWWWAVVVVVVAAAAAALLLLLLLLLLLLLLLLL

10-31-2017 , 05:31 PM

#638

tomdemaine

Just tries harder

Join Date: Feb 2005 Posts: 20,065

awval,

Ikes lost his account underestimating the % of pure depolarables in the republican party. You're making the same mistake, which at this point pretty much has to be wilful ignorance.

10-31-2017 , 05:33 PM

#639

Riverman

Carpal \'Tunnel

Join Date: Apr 2003 Posts: 73,135

Valedictorian!!

10-31-2017 , 05:37 PM

#640

MrWookie

Don't Call Me Meredith

Join Date: Feb 2005 Posts: 94,159

Quote:

Originally Posted by awval999

It just doesn't make political sense.

Yo, I told you how it made political sense pages ago ITT.

Not to mention, there were templates of GOP/Trump tax proposals out there prior to the election that showed tax increases on the low 6 figure lot, and you were a reliable GOP voter anyway.

10-31-2017 , 05:42 PM

#641

Trolly McTrollson

Carpal \'Tunnel

Join Date: Oct 2010 Posts: 36,724

Holy ****, Captain Disinterested suddenly had his emotion subroutine kick in.

Zero ****s given about threatening NK with nuclear war, zero ****s given about people dying from an inept disaster response, zero ****s given about criminality in the Trump campaign, but holy **** you withhold his handout and things get live.

10-31-2017 , 06:18 PM

#642

otatop

Carpal \'Tunnel

Join Date: Jul 2008 Posts: 12,721

Quote:

Originally Posted by awval999

I almost believe, that they actually want to be a minority party. Easier to throw bombs and say "NO!" than govern.

No ****.

Quote:

Like literally, do they think people won't notice the 401k changes or the SALT deductions being gone?

Of ****ing course that's what they think, and they're right.

10-31-2017 , 06:21 PM

#643

microbet

Solar Powered

Join Date: Jan 2005 Posts: 56,485

Quote:

Originally Posted by Trolly McTrollson

He seems proud of his selfishness.

10-31-2017 , 06:27 PM

#644

pokerchris

banned

Join Date: Oct 2017 Posts: 202

Tax reform while being budget neutral (which is what must happen through reconciliation) will fix some things but cause other problems.

Repatriation of offshore funds is good.

Lowering corporate rate is pointless, as corporations pay no taxes anyway.

Messing with charitable deduction, mortgage deduction of 401K caps, bad.

10-31-2017 , 07:01 PM

#645

cuserounder

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 8,217

Awval, will you now be voting for Democrats in 2018 and 2020?

10-31-2017 , 07:04 PM

#646

Pwn_Master

Carpal \'Tunnel

Join Date: Jun 2009 Posts: 8,766

Quote:

Originally Posted by awval999

Literally I cannot believe the GOP is going to release such a ****ing terrible tax bill. I'm legit going to have to call Portman and my Congresscriter. First time. For this tax bill.

Nice, not even pretending to be anything other than a selfish ****.

I am going to call all my Congressmen to vote FOR the bill. Seems that is what we need to get that wave election in 2018/2020 and get the white selfish **** class to realize who are their real enemies and their real allies are (even if they don't like their skin color).

10-31-2017 , 07:07 PM

#647

sylar

Ivan Drago's homeslice

Join Date: Dec 2006 Posts: 20,307

Quote:

Originally Posted by awval999

There's obviously a point where they won't.

They won't vote for GOP if their taxes go up X%

There's a breaking point.

What X is, I don't know.

the banality of you all is in that it doesn't matter where X is. there is really no level of taxation where the republicans admit that taxes are probably low enough. at yet here you are, wondering where they cross a line.

10-31-2017 , 07:28 PM

#648

adios

Carpal \'Tunnel

Join Date: Sep 2002 Posts: 22,530

Quote:

Originally Posted by awval999

It just doesn't make political sense.

I almost believe, that they actually want to be a minority party. Easier to throw bombs and say "NO!" than govern.

Like literally, do they think people won't notice the 401k changes or the SALT deductions being gone? Like they won't notice come January their paychecks get lower?

The business tax cuts they can "hide". Want jobs. Business to grow. Blah blah. The vast majority of people don't see a business tax return. Whatever.

But the 401ks? ****ing around with itemized deductions. It's like ripping out the heart of the upper-middle (for Victor, the lower-middle) class who will vote those ****ers out. I mean, honestly, the deplorables probably won't even vote in the midterms without Trump on the top of the ticket. You are relying on the suburban/exurban soccer moms and dads to vote GOP for taxes during the midterms. And like you are literally raising taxes on incomes $75-$300k.

Is this where posters step in and state that, jeez the upper middle class folks just can't catch a break.

Last edited by adios; 10-31-2017 at 07:36 PM.

10-31-2017 , 07:34 PM

#649

Jbrochu

banned

Join Date: Jan 2005 Posts: 16,054

If this thing go through it's hitting working middle and lower class folks hard as well. At least any that work in states with an income tax and a moderate to high property tax.