Tax cliffs for those labouring under different systems of monopolies of violence?

The Trumpkins are just going to eat this up aren't they? The plan makes it look like the wealthy are being targeted when in fact they get the breaks.

Trumpkins gonna Trumpkin. F'ing idiots.

Also could someone more intelligent than I in the tax-arena comment on how doubling the standard deduction will affect people of varying incomes? It seems like this actually would help low and middle income Americans somewhat but I'm not sure.

Bull****.

You don't pay estate tax until $10.5 million for a married couple. And you can pay it over 10 years. And with semi-competent planning (trusts, life insurance, etc.) any liability can be minimized.

It's a massive giveaway to billionaires. Unconscionable.

.

iirc the inheritance tax is zero on the first 5 million. but dumbasses in alabama collecting $700/month disability because of high blood pressure and diabetes will vote to repeal it

Too bad their solution will be to vote for someone FURTHER right next time, who will figure out a way to cut taxes deeper on the rich but will get liberals even more upset so it's all good...

For some reason right-wing nutjobs really hate the $5M estate tax even if they'll be lucky to pass down 5 figures to their offspring. I think they visualize libtards taking rich white peoples' money and handing it straight to minorities.

It just doesn't seem fair to them, and you will never get anywhere trying to explain how pumping generational wealth back into the system is a lynchpin of healthy democracy. Same goes for trying to explain progressive taxation.

The media. They're ****ing idiots. Or spineless. Usually both.

but you don't get the personal exemption anymore. (you also don't get deductions for your kids anymore either)


basically if you aren't rich, you are ****ed

Don't forget complicit. How many of the media all-stars are personally going to make out pretty good under Trump. Most?

Yea I never understood this logic. "Gosh, I'm making so much money I don't know what to do with it. I know! I'll hire people!"

And people literally think this happens when you give the wealthy a tax cut.

Here's some food for thought: If there wasn't a leak to the press, Mike Flynn would still be working...with top security clearance and all!

Some more food for thought: Trump STILL HAS top security clearance. I can't imagine what it must feel like to constantly brief him, and how tempting it must be to hold back critical intel. Sheesh.

hey, this might make 1040's simpler ,, i do like 50 returns a year, and it can get insanely complex sometimes. ill also disclose that 200% of my net worth is short HRB (and nke) , but not just because of this

But in Merica (**** ya) everyone will be a millionaire one day.

"Well, some say family farms will have to be sold..."

Took 5 minutes. On MSNBC.

I give up.

this will actually help lower middle income people, basically if you make 30k and under, you wont pay taxes. if you had a simplified 1040ez , you wont have a tax liability

I'm a former family farm kid (not just land that's pricey, a combine can cost 500k these days, it all adds up quick) and I agree with you on the last line and this issue.

Don't **** with me.

Lets say you are a single mom with 3 kids, all 5-12 years old

You get Head of Household (instead of single) which is the standard deduction,

Then you get personal exemption + exemptions for all 3 kids


in trump world, exemptions are gone, HoH is gone, you get to claim single

In trumps world, the single deduction is doubled.



2016 HoH 9,300
2016 single 6,300

2016 personal exemptions 4,050 x 4 = 16,200


so in 2106 they would get 16,200 + 9,300 = 25,500 in deductions

2017 single x 2 = 12,600


so lets round up to 13,000 less in deductions. lets use 15% for both years, just because

thats about 2,000 extra in tax for a single mom of 3.



it basically ****s people with lots of kids, and poor people.

If either of you were right about the ACA a simple repeal would fix everything.

wait really? they are removing deductions for kids? thats truly unreal

Yea the one thing I really hate about the media is how they pretend to be for the little man when in reality they are all in the top 1%.

Mason Mallmuth apparently pays people who aren't really needed - to run twoplustwo.com. That is before Obama raised his taxes on personal income over $400k by 3.9%. Then sayonara.

If the leaning tower of pisa is about to fall, blowing it up doesn't fix the problem.

Don't know what to tell you other than that you're wrong. Not only do you get 10 years to pay any tax, you don't even have to start paying it until five years after the death of the surviving spouse.

Sure, the industry has consolidated. That's what happens in any industry. And sure, equipment is expensive. But, like, that's what banks are for. You get to subtract debt from the asset value.

This isn't even going into some no brainer estate planning techniques that can shift large portions of net worth out of taxable estates.