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2017 "Tax Reform": They'll Screw This Up Too, Right? 2017 "Tax Reform": They'll Screw This Up Too, Right?

12-22-2017 , 12:19 PM
People really wanted Donald Trump to cut his own taxes once he got in office. That is why he tells everybody he is going to pay alot more under his plan and his rich buddies are giving him **** for raising their taxes too.
12-22-2017 , 12:21 PM
Quote:
Originally Posted by Victor
I guess I did not emphasize the "phased out" part properly. what that means is that the tax cuts become less and less every year. ie, your tax cut at year 9 is not the same as at year 1. year 1 is going to be the year where you save the most. that savings lessens every year.

so no, you almost certainly will not get lower taxes for 9 years. I think the inflection point for most people was that around 5 years they would start paying more. (I could be wrong here on the exact date and they have changed the bill around enough that my original source may not be accurate for that 5 year thing.) but the point remains, the cuts get reduced every year.

and as for it being up to congress in 10 years, I am not sure how that works since this bill had to pass reconciliation and I think that is a big reason why the cuts get reduced over the years.

so quite literally what is happening here, if you actually look at the numbers and read unbiased sources, is that the middle class and lower class are funding a multi billion dollar hand out for the .1% and for corporations.
If those cuts actually become less and less. No one is running in 2024 with a campaign promise to allow taxes to go up
12-22-2017 , 12:22 PM
Quote:
Originally Posted by BreakYaNeck
lol at farmhouse. I live in a 2 story house built in 05 in a nice residential neighborhood.
Need to get out of your elite conclave and meet real Americans and then you'll find someone who disagrees with you imo.
12-22-2017 , 12:22 PM
Quote:
Originally Posted by Victor
I guess I did not emphasize the "phased out" part properly. what that means is that the tax cuts become less and less every year. ie, your tax cut at year 9 is not the same as at year 1. year 1 is going to be the year where you save the most. that savings lessens every year.

so no, you almost certainly will not get lower taxes for 9 years. I think the inflection point for most people was that around 5 years they would start paying more. (I could be wrong here on the exact date and they have changed the bill around enough that my original source may not be accurate for that 5 year thing.) but the point remains, the cuts get reduced every year.
Don't take this the wrong way, but I'm not really following you here - rather than summarizing your source, can you just link it so I can get it from the horse's mouth.
12-22-2017 , 12:23 PM
Quote:
Originally Posted by General Tsao
Obviously I rail against increasing the debt, I'm a libertarian, lol. Wanted to see if you'd actually go digging (wow, by the way...that was a hell of a find...)
It took like 30 seconds and I got to relive the days when snagglepuss sent hate messages to people he got owned by.

Still laughing at the turnaround about the debt and deficit though. 4 points!
12-22-2017 , 12:23 PM
Quote:
Originally Posted by BreakYaNeck
Oh you mean the same polls that said Trump had absolutely no chance at winning? Got it.
no. the polls that said trump had 10-20% chance of winning. guess what? gutshots hit. so do flushes.

the polls that were off on hillarys percentage by like 1.5%. so pretty accurate really. its just that we have an idiotic system that suppresses the value of the votes of a large portion of our populations.

but whatever. it really doesnt matter. not sure how you can think that this tax bill or the dismantling of obamacare is good for you or your friends or the country in general unless you are part of the .1%. bc this even hurts the 1-2% bigly.
12-22-2017 , 12:25 PM
Quote:
Originally Posted by Huehuecoyotl
Need to get out of your elite conclave and meet real Americans and then you'll find someone who disagrees with you imo.
Lol I work 30 min from where I live in a far less well off place and still get the same opinion....
12-22-2017 , 12:26 PM
Quote:
Originally Posted by prana
It took like 30 seconds and I got to relive the days when snagglepuss sent hate messages to people he got owned by.

Still laughing at the turnaround about the debt and deficit though. 4 points!
4% less on your taxes ...... 300 dollars

Selling your libertarian principles about the debt for that sweet sweet moola.....priceless.
12-22-2017 , 12:26 PM
Quote:
Originally Posted by General Tsao
It's all about sound bites...Democrats will say they want to repeal the republican tax cuts, republicans will say they're going to increase taxes. Or more likely, "this democrat voted against the tax cut you got".

God, what a stupid system we use. And how stupid most people are. Most of my facebook liberal friends think their taxes are going up next year due to this bill - it's INSANE how stupid these people are.
Some of their taxes may actually be going up? I mean, there is no way to know without knowing their specific situation but there are clearly categories of people for which this bill increases taxes.

Again, for the most part, the actual change in tax is going to be small either way and intertwined with other factors. Republicans are already in deep trouble in 2018. I don't think this tax bill is going to hurt them more, but it's hard to see how it will help either.
12-22-2017 , 12:26 PM
Quote:
Originally Posted by BreakYaNeck
Exaggerating here but watching the damn news for a year leading up to it, Im pretty certain the exact words used by alot of libs on CNN, etc were.... "Trump literally has no chance of winning"
oh, so not the polls, but cable news pundits. got it.
12-22-2017 , 12:27 PM
Quote:
Originally Posted by BreakYaNeck
Lol I work 30 min from where I live in a far less well off place and still get the same opinion....
In a bubble much?
12-22-2017 , 12:27 PM
Quote:
Originally Posted by Victor
no. the polls that said trump had 10-20% chance of winning. guess what? gutshots hit. so do flushes.

the polls that were off on hillarys percentage by like 1.5%. so pretty accurate really. its just that we have an idiotic system that suppresses the value of the votes of a large portion of our populations.

but whatever. it really doesnt matter. not sure how you can think that this tax bill or the dismantling of obamacare is good for you or your friends or the country in general unless you are part of the .1%. bc this even hurts the 1-2% bigly.
The system is not idiotic. It is necessary and a good one. Literally 80% of Americans save under this plan. Easy to see why most like it
12-22-2017 , 12:28 PM
Quote:
Originally Posted by prana
It took like 30 seconds and I got to relive the days when snagglepuss sent hate messages to people he got owned by.

Still laughing at the turnaround about the debt and deficit though. 4 points!
I'm all for cutting spending...
12-22-2017 , 12:28 PM
Quote:
Originally Posted by hacksaw JD
oh, so not the polls, but cable news pundits. got it.
Lol keep making excuses. 10-20% was literally no chance in you guys mind. There are countless posts saying that. Your polls were awful and guess what? The current ones are most likely awful too but keep believing them
12-22-2017 , 12:29 PM
Quote:
Originally Posted by BreakYaNeck
lol at farmhouse. I live in a 2 story house built in 05 in a nice residential neighborhood.
your problem is personal responsibility. in that post where you completely shat the bed in attempting to link a youtube video, you blamed it on anything but yourself. you even said, video wont embed as if it was the fault of the video, or maybe the forum.

but no. it was your fault. the video would embed just fine you had the mental capacity to figure it out. and since you are clearly incapable of a simple multi step process with directions spelled out all over the entity that you are currently operating, I imagine it would be absolutely futile to try to engage with you on why this tax cut is bad for you and for society at large.

your thinking literally does not go beyond, me like daddy trump, he makes me feel secure, me hate liberals bc they laugh at me and I dont understand them and their egghead facts and logics. me like daddy trump bc he makes those mean librulz mad. maga maga.
12-22-2017 , 12:29 PM
Quote:
Originally Posted by BreakYaNeck
If those cuts actually become less and less. No one is running in 2024 with a campaign promise to allow taxes to go up
First, they become less and less before 2024 and people know that today.

Second, the Ds are going to propose paying for making those middle class tax cuts permanent and even expanding them by rolling back the permanent massive tax cuts for the wealthy and their heirs that Rs prioritized. Rs propose to pay for them by cutting Social Security, Medicare and Medicaid. I like our chances.
12-22-2017 , 12:29 PM
Quote:
Originally Posted by BreakYaNeck
The system is not idiotic. It is necessary and a good one. Literally 80% of Americans save under this plan. Easy to see why most like it
Actually, most Americans don't like it. It's stunningly unpopular (net favorability -19), especially for a massive tax cut bill that provides an immediate cash benefit to most households.

EDIT: For comparison, Obamacare, hated by all, never touched -19 net favorability in its entire polling history, at least according to here.
12-22-2017 , 12:35 PM
BYN, how do people in your town that you talk to feel knowing that, while they may be getting a tax cut, they could have received a much larger tax cut if republicans were wonky enough to figure out a way to give it to them instead of megacorps sitting on mountains of cash?
12-22-2017 , 12:40 PM
Quote:
Originally Posted by hacksaw JD
BYN, how do people in your town that you talk to feel knowing that, while they may be getting a tax cut, they could have received a much larger tax cut if republicans were wonky enough to figure out a way to give it to them instead of megacorps sitting on mountains of cash?
Can't answer your question, but, for myself, initially I was annoyed that this is basically a once in a life time opportunity to cut taxes, and we didn't get as much as I wanted.

But, considering the government doesn't do anything good, this is about as good as it'll ever get - will look forward to taking the thousands this bill is going to save me and going on vacation. Or, making (yet another) super poorly timed investment into blockchain currency.
12-22-2017 , 12:41 PM
I hear gold is good.
12-22-2017 , 12:43 PM
Quote:
Originally Posted by BreakYaNeck
Lol keep making excuses. 10-20% was literally no chance in you guys mind. There are countless posts saying that. Your polls were awful and guess what? The current ones are most likely awful too but keep believing them
If current polling is as accurate as the polls leading up to the election, Trump is deeply and historically unpopular.
12-22-2017 , 12:44 PM
Quote:
Originally Posted by BreakYaNeck
Oh you mean the same polls that said Trump had absolutely no chance at winning? Got it.
While there were a few models, if I recall correctly, that gave Trump ~0% chance of winning the polling itself was actually pretty good. Better than 2012, in fact.

Those models were probably wrong, for various reasons, and for sure there were overconfident posters on the internet (and probably on cable news as well), but there were other more reasonable models that were probably correct.

FiveThirtyEight's model, for example, gave Trump a 28.2% chance to win on election day, and there is little evidence that that figure was too high.

As it was, in reality, Trump walked a pretty narrow tightrope to win PA (0.7%), Michigan (0.3%), and Wisconsin (0.7%) while losing the national vote by 2.1%.

There is a lot of time left before 2020, and things can change, but it does not look good for him at present. He basically needs to hold on to all of his 2016 support (and hold on here means they need to actually vote for him, not just say they still support him) and have turnout for the Democrats not increase.

Even if nothing happens except that a small number of Trump supporters stay home (the enthusiasm and novelty is likely going to be lower next time), and no additional democrats come out to vote, Trump still likely loses in 2020.
12-22-2017 , 12:53 PM
Quote:
Originally Posted by bobman0330
Actually, most Americans don't like it. It's stunningly unpopular (net favorability -19), especially for a massive tax cut bill that provides an immediate cash benefit to most households.

EDIT: For comparison, Obamacare, hated by all, never touched -19 net favorability in its entire polling history, at least according to here.
Nate had a good article on why, even once people see their paychecks and get an extra $20, their opinions are unlikely to change. Basically, the sentiment behind why many people dislike this bill is correlated with their overall feelings on income inequality and an out of control deficit. This bill does not address those concerns, and getting a little hand me down isn't going to cause anyone to fall in love with Trump and the repubs.

Quote:
But more importantly, voters probably aren’t being quite so single- and literal-minded about whether or not they’re getting a tax cut. Instead, they’re using polling questions like these to signal their overall skepticism and discomfort with the bill — discomfort that also registers when they’re asked other questions about the bill that have nothing to do with their personal finances.

A CNN poll this week, for instance, found that 66 percent of voters expect the bill to do more to benefit the wealthy than the middle class. (Other polls show similar numbers.) Voters have a reasonable basis to be concerned about this. According to the Tax Policy Center, voters in the top income quintile will see an average tax reduction of $7,640 next year, as compared to $930 for the middle income quintile.
https://fivethirtyeight.com/features...yll-get-a-cut/
12-22-2017 , 01:03 PM
So, Trump signed if before the new year? Did they somehow get the paygo waiver passed, or was the concern about that wrong wrong, or are we going to see big Medicare cuts?
12-22-2017 , 01:05 PM
Paygo waiver passed, with a fair number of Dem votes in the Senate. I have not seen much political analysis of how those votes were obtained.

      
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