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Old 09-28-2017, 05:22 PM   #126
otatop
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Originally Posted by OmgGlutten! View Post
So hopefully they won't get rid of it... that is pretty rough.
Those families will just need to bootstrap themselves into a better job, or

"Well someone making $16,000 a year shouldn't have 3 kids to begin with"
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do they need 50 or 60 votes?
Depends on how they try to pass it.
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Old 09-28-2017, 05:23 PM   #127
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

When they talk about tax code complexity, they mean all the elaborate loopholes created so super rich people don't have to pay taxes.
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Old 09-28-2017, 05:32 PM   #128
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Wookie,

I don't agree that awval is the target. He will pull the lever for whatever POS the GOP throws on the ticket, but he doesn't have enough income to matter re: taxes. Like I'm sure he thinks he pays his marginal rate on his entire income and generally doesn't understand anything. But the GOP isn't going after his income - he doesn't have enough.

The real target, now that they are basically out of other groups to target and have it matter, is their own bread and butter voters, upper middle class white people. 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; the GOP knows they aren't going anywhere. The ballgame, as always, is the mega rich. Hence the pass through rate of 25%. This includes basically any privately held company.
I can't speak confidently about the entire white collar salaried sector, but your generalization about lawyers is wildly off. A huge percentage of the lawyers who make $300-700K live in urban areas, especially New York and California. They mostly vote Democratic, and I know very few who I would describe as "racist as ****".
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Old 09-28-2017, 07:26 PM   #129
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Originally Posted by awval999 View Post
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.
I bet you're a blast at parties.
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Old 09-28-2017, 07:32 PM   #130
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Originally Posted by Rococo View Post
Fewer brackets is a joke as a simplification measure. The complexity of the US tax system has almost nothing to do with how many brackets there are.
They should just make it one formula and teach in high school math class on up.
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Old 09-28-2017, 07:44 PM   #131
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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I bet you're a blast at parties.
I'm 31. Don't really do parties anymore. Such is life.
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Old 09-28-2017, 08:35 PM   #132
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

I was still going to raves at 31. Lol u

Last edited by suzzer99; 09-28-2017 at 08:35 PM. Reason: er lol me too
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Old 09-28-2017, 08:54 PM   #133
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

awval's most passionate hobby is collecting frequent flyer miles. He would be terrified of a rave.
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Old 09-28-2017, 09:06 PM   #134
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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awval's most passionate hobby is collecting frequent flyer miles. He would be terrified of a rave.
I like to travel?
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Old 09-28-2017, 09:07 PM   #135
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

You guys need to chill out and think about the farmers.
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Old 09-28-2017, 09:18 PM   #136
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

Estate tax talking point now is "doesn't matter, rich people don't pay it anyway!"

So, uh, why do you need to repeal it then?
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Old 09-28-2017, 09:25 PM   #137
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

Do you even simplify bro?
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Old 09-28-2017, 09:26 PM   #138
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

How are billionaires supposed to fill out their taxes on a postcard with all that complexity?
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Old 09-28-2017, 09:37 PM   #139
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

In the Facts Don't Care About Your Feelings category

Quote:
The Treasury Department has taken down a 2012 economic analysis that contradicts Secretary Steven Mnuchin’s argument that workers would benefit the most from a corporate income tax cut.

The*2012 paper*from the Office of Tax Analysis found that workers pay 18% of the corporate tax while owners of capital pay 82%. That is a breakdown in line with many economists’ views and close to estimates from the nonpartisan Joint Committee on Taxation and Congressional Budget Office.

The JCT, which will evaluate tax bills in Congress, estimates that capital bears 75% of the long-run corporate-tax burden, with labor paying the rest.

But Mr. Mnuchin has been arguing the opposite, citing other papers that attribute more of the burden to labor. The point is central to Mr. Mnuchin’s argument that workers would benefit from the corporate tax cut the administration is proposing, and switching that assumption would significantly alter the estimates of who would benefit from the Republican tax policy framework released*on Wednesday.

https://www.wsj.com/articles/treasur...ers-1506638463
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Old 09-28-2017, 10:55 PM   #140
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Originally Posted by goofyballer View Post
Deficit hawks are nowhere in sight as GOP announces $1.5 trillion in tax cuts

Here's a classic case of a GOP congresscritter getting a little too honest about their politics:



"LOL the time to care about deficits was 2009-2016"
This is the same crap the pulled with healthcare. How can any normal people be supportive of anything to do with a Republican Congress? They expose themselves as dishonest conmen running a grift on the entire country at every turn. There is no legitimate ideaology or standards. It’s all just a long con.
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Old 09-28-2017, 11:03 PM   #141
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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In the Facts Don't Care About Your Feelings category




https://www.wsj.com/articles/treasur...ers-1506638463
That is so fundamentally ridiculous it’s impossible to take seriously.
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Old 09-29-2017, 04:59 AM   #142
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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Originally Posted by Huehuecoyotl View Post
They should just make it one formula and teach in high school math class on up.
It's a piecewise linear function. Not really that complicated. Even engineers can understand it.
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Old 09-29-2017, 05:01 AM   #143
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

The most important tax of all is the estate tax. No one really rich "deserves" that money. That they have so much is evidence something isn't working right in the society/economy. A good remedy is to take a big chunk of it away from their heirs, and spread it out among everybody. Really rich people are a problem for a free, egalitarian society because their basic interest is consolidating their wealth/power at the expense of everyone else. The best solution anyone's found until now is just to take away a chunk of what they don't really need.
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Old 09-29-2017, 07:54 AM   #144
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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The most important tax of all is the estate tax. No one really rich "deserves" that money. That they have so much is evidence something isn't working right in the society/economy. A good remedy is to take a big chunk of it away from their heirs, and spread it out among everybody. Really rich people are a problem for a free, egalitarian society because their basic interest is consolidating their wealth/power at the expense of everyone else. The best solution anyone's found until now is just to take away a chunk of what they don't really need.


Always thought all assets should be forfeited upon death, and placed into a pool to provide free health care. But I'm sure people would find some type of loophole to give everything away before that happened.
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Old 09-29-2017, 08:28 AM   #145
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

I don't see how anyone could argue that any money you didn't have yesterday but you have today shouldn't all be taxed at the same rates as ordinary income. That's inheritance, cap gains, everything.
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Old 09-29-2017, 08:53 AM   #146
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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I don't see how anyone could argue that any money you didn't have yesterday but you have today shouldn't all be taxed at the same rates as ordinary income. That's inheritance, cap gains, everything.
I mean, there's no particularly compelling reason that everything should be taxed at the same rate either. There is no objectively correct tax code.
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Old 09-29-2017, 09:01 AM   #147
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

As liberal as I am, the tax code does have a lot of BS in it, and Trump is right , that it should not be as archaic, but his method/plan is also not correct, and while i think it wont ever pass, If it does, it will create some disruptions in many sectors/states

Also this,
https://www.nytimes.com/2017/09/28/u...=top-news&_r=0

what companies besides the obvious (real estate companies heavily in blue states) , will be hurt by this.,
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Old 09-29-2017, 09:14 AM   #148
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

For starters it should be possible to file electronically with a digital signature like it is any modern country.
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Old 09-29-2017, 09:22 AM   #149
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

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For starters it should be possible to file electronically with a digital signature like it is any modern country.
out of the 50 or so tax returns that i did last year ,, all but one was not efiled.
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Old 09-29-2017, 09:24 AM   #150
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Re: 2017 "Tax Reform": They'll Screw This Up Too, Right?

what I will do later on ,, is take a friends report, and compare it to what it would be under the nex tax plan..

he currently itemizes , has a home in jersey , (12k) property tax , works in nyc . and has two kids under 13.. him and his wife make around 120k combined gross.
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