2017 "Tax Reform": They'll Screw This Up Too, Right? - Page 4 - Politics and Economics

Yeah so what, what are other instances of double taxation are you opposed to? I'm opposed to elimination of deductions for state and local income taxes.

09-28-2017 , 06:51 AM

#77

mosdef

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Join Date: Jan 2005 Posts: 11,290

Quote:

Originally Posted by MrWookie

Yeah, the pass through is a joke. Why even bother lowering the top marginal rate. Pass through alone is mission accomplished.

It gives them something to "give in" on. Like, if they come back with higher tax rates everywhere except the pass through that's still a win for their donors but the Democrats will be falling all over themselves in self congratulations.

09-28-2017 , 07:15 AM

#78

eyebooger

Join Date: May 2010 Posts: 58,678

Quote:

Originally Posted by mosdef

Yes. They're bargaining starting from the more extreme position. The Democrats should try that sometime.

09-28-2017 , 07:36 AM

#79

tomdemaine

Just tries harder

Join Date: Feb 2005 Posts: 20,065

If the GOP can pass something that half of their own base doesn't want then the dems should just pack up and quit.

09-28-2017 , 08:12 AM

#80

Gizmo

Hottest Khaleesi

Join Date: Nov 2009 Posts: 11,951

Quote:

Originally Posted by hobbes9324

Deeply and sincerely, as a doc in the 400k range, **** you. Jesus. Thanks for calling me racist and stupid.

MM MD

Lol, humble brags itt.

09-28-2017 , 08:45 AM

#81

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,097

Quote:

Originally Posted by awval999

Jesus Christ Riverman I know how marginal taxes and the tax brackets work. Besides my career, and travel hacking, the next thing I know the most about is personal finance.

Wookie, we make no where near $300k but it's cheap where we live and soon will be financially secure when our student loans are gone and my wife will be able to stay at home if she chooses if/when we get pregnant.

Son you voted for Trump, nobody gives a **** about your opinion. LOL you have spreadsheets?

Dip**** you're transparent here, Daddy finally rolled out the tax cuts you voted for, and so right now this thread is you trying to give yourself a reputation as a neutral expert.

In a few days you'll switch to loving the plan and fiercely advocating for it, but then when it gets closer to passing and seems like it's unpopular you're going to switch to the tone of a disinterested vote counting observer.

09-28-2017 , 08:46 AM

#82

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,097

hobbes you're telling on yourself a little bit, my dude

09-28-2017 , 09:12 AM

#83

Trolly McTrollson

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Quote:

Originally Posted by Gizmo

Lol, humble brags itt.

Are docs like this irl, or just the ones who post on 2p2?

09-28-2017 , 09:39 AM

#84

raradevils

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Join Date: Mar 2007 Posts: 8,189

Quote:

Originally Posted by suzzer99

Read that Republicans are basically trying to find a way to screw Californians (by removing state and local deduction) to pay red states. Hmmmm - where's the double taxation crowd now?

How is it double taxation? In NJ (for state taxation) you can't lower your taxable income by writing off the amount your pay in property taxes.

09-28-2017 , 10:23 AM

#85

champstark

aka starkwired

Join Date: Feb 2006 Posts: 14,838

Quote:

Originally Posted by Riverman

Doctors, lawyers, bankers, really any salaried white collar profession. People in the $300k - $700k range. They have a ton of income, but they aren't the donor class. And they are racist as **** and generally incredibly stupid despite their income

As someone who falls into this category explicitly, zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz z

While certainly a lot of people in this category voted for Trump because REPUBLICANZZZ, I can also tell you a lot of the people in this category are liberal. I'm not at all unique.

09-28-2017 , 10:48 AM

#86

Riverman

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Nah, they tell themselves they are liberal to sleep at night. There are of course exceptions, mostly in NYC/LA/DC/SF.

Your average upper middle class white guy in Ohio or Kansas or Wisconsin is a total POS.

09-28-2017 , 10:51 AM

#87

champstark

aka starkwired

Join Date: Feb 2006 Posts: 14,838

Quote:

Originally Posted by Riverman

Sure, but I mean how many docs/lawyers in those places are making salaries like that? Can't be very many. The vast majority are going to be in the liberal places you mentioned, because that's where salaries are higher (and cost of living, obviously).

Bankers/hedge fund guys/etc. are different. I would put them in a separate category that probably leans (at least) more conservative, yes.

09-28-2017 , 11:13 AM

#88

spidercrab

veteran

Join Date: Jun 2013 Posts: 3,206

Interesting point I read on twitter:
If you eliminate the SALT deduction and bump the standard deduction to $24k, it effectively eliminates the mortgage interest deduction because very few people are paying >$2k a month in mortgage interest expense.

LOL at anything like this "approach" (because there's no actual numbers yet) passing.

09-28-2017 , 11:19 AM

#89

TheHip41

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you know thats the point of the SD, less paperwork for small time Schedule A users.

I don't disagree about the LOL this bill part though

09-28-2017 , 11:27 AM

#90

spidercrab

veteran

Join Date: Jun 2013 Posts: 3,206

Quote:

Originally Posted by TheHip41

you know thats the point of the SD, less paperwork for small time Schedule A users.

Sure, but you can no longer say that it's providing an incentive to purchase a home. (To be clear, I think this the mortgage interest deduction is bad policy. It's just super popular.)

The tax plan says the following:

Quote:

In order to simplify the tax code, the framework eliminates most itemized deductions, but retains tax incentives for home mortgage interest and charitable contributions. These tax benefits help accomplish important goals that strengthen civil society, as opposed to dependence on government: homeownership and charitable giving.

Like, that's nonsense if you're effectively removing the mortgage interest deduction for 95% of taxpayers.

09-28-2017 , 11:29 AM

#91

Slighted

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the ones outside of those liberal areas are more like riverman says than you would think.

i specifically remember getting in an argument with a southern doctor about texas and oklahoma seceding because obama won a second term, and how she thought it was a completely viable option and that the new texalahoma would thrive and that the US would crumble and let them be their own country.

thats when i realized i was never going in where she worked if i got sick.

09-28-2017 , 11:31 AM

#92

Pwn_Master

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Join Date: Jun 2009 Posts: 8,766

Quote:

Originally Posted by FlyWf

Then if it passes, he will make a long rambling post about how this is really vindication for his forgotten friends in small town Ohio. Sticking it to those dang liberals who left them behind with massive tax cuts for the wealthy, yeaaaaaaaaaaahhhhhhhhhhhhhhhh!!!!!

09-28-2017 , 11:33 AM

#93

stinkubus

Pooh-Bah

Join Date: Jan 2012 Posts: 4,422

Still not sure what Trump has accomplished for rural Ohio other than providing them an undeserved sense of superiority over minorities, homosexuals, etc.

On the other hand he has tried to take billions in medicaid funding away from them.

09-28-2017 , 11:36 AM

#94

MrWookie

Don't Call Me Meredith

Join Date: Feb 2005 Posts: 94,159

Quote:

Originally Posted by stinkubus

Still not sure what Trump has accomplished for rural Ohio other than providing them an undeserved sense of superiority over minorities, homosexuals, etc.

That is not just something. It's the only thing that matters.

09-28-2017 , 11:45 AM

#95

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,097

Aye if you fall in Riverman's category and aren't one of the people he's talking about you wouldn't want to defend the group, you'd think of yourself as a proud class traitor. This is that #NotAllMen ****, completely unnecessary self-owns.

09-28-2017 , 11:46 AM

#96

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,097

Quote:

Originally Posted by Pwn_Master

Stage 5 will be "this plan didn't literally end the world, see, I was right"

09-28-2017 , 11:48 AM

#97

tomdemaine

Just tries harder

Join Date: Feb 2005 Posts: 20,065

and the final stage is "The debt/deficit is soooooo huge gotta cut food stamps right away!"

09-28-2017 , 11:48 AM

#98

stinkubus

Pooh-Bah

Join Date: Jan 2012 Posts: 4,422

Quote:

Originally Posted by FlyWf

While I think it's human nature to want to defend one's own kind, the best advice I ever received is handling such comments was thus, "If it don't apply, let it fly."

09-28-2017 , 12:11 PM

#99

Loki

binary duo

Join Date: Nov 2015 Posts: 12,772

Man who helped create GOP tax myth DESTROYS the new tax plan and the myth he helped create

https://www.washingtonpost.com/news/...-equal-growth/

Is that a Laffer curve reference in the article? You damn sure ****ing bet it is

09-28-2017 , 12:37 PM

#100

MyrnaFTW

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i would like to say that this will destroy our currency even more, but that has yet to happen, so maybe not..

i do like 50 tax returns for friends and family in NY and NJ , and just glossing over the schedule A's , this will hurt all of us in these states ,.. it will kill values of SFR in both these states , especially NJ, with its high property tax.

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