Republican Tax Plan (a nothingburger with cheese)

[ALF]

My concern is cutting Medicare by $473B and Medicaid over $1T over 10 years.

 

Eliminating the estate tax for upper rich in 6 years I think. Present estate tax is $0 for under $4.9M

 

What this will do to the $20T national debt when Trump said that will be paid off in 8 years is a sad joke.

Edited November 2, 2017 by ALF

[Tiberius]

Looks like the GOP tax plan is taking aim at the Blue States

[Dorkington]

I'll hold off judgement until I see some analysis. But on the surface it sounds like it's going to add to our debt in a pretty big way. Figured there'd be more spending cuts.

[Koko78]

I'll hold off judgement until I see some analysis. But on the surface it sounds like it's going to add to our debt in a pretty big way. Figured there'd be more spending cuts.

 

Estimated to add something like $1.5 trillion over 10 years. $150 billion per actual year isn't that bad (relatively speaking). I do not know if that number is adjusted for any projected economic growth.

[GG]

I'd like to see the math behind the deficit estimates. The proposal doesn't lower the rates on people who actually pay the bulk of the income tax, and many deductions will be eliminated. The lower corporate rate will mean that companies will bring foreign profits onshore, meaning that those tax receipts will increase exponentially.

 

Must be one of those famed CBO estimates.

[B-Man]

WHEN DEMS GET FOUR PINOCCHIOS FROM THE WAPO, IT’S GOT TO BE REALLY, REALLY BAD:

 

Democrats are lying about Republican tax plan, says Washington Post fact-checker.

[SlimShady'sSpaceForce]

wasn't it last week they said we'd get a $4000 "raise" with their new plan?

 

 

Republicans calculate that a family of four with a median $60,000 income would receive a tax cut of almost $1,200

 

what happened?

GOP tax plan would shrink mortgage interest benefit?

 

So I get more but then I get less?

I hate it when they "give" you a break here and take more out there.

[TakeYouToTasker]

wasn't it last week they said we'd get a $4000 "raise" with their new plan?

 

 

Republicans calculate that a family of four with a median $60,000 income would receive a tax cut of almost $1,200

 

what happened?

GOP tax plan would shrink mortgage interest benefit?

 

So I get more but then I get less?

I hate it when they "give" you a break here and take more out there.

I thought the left wanted tax loopholes closed?

 

Or did you just mean loopholes for other people?

[GG]

wasn't it last week they said we'd get a $4000 "raise" with their new plan?

 

 

Republicans calculate that a family of four with a median $60,000 income would receive a tax cut of almost $1,200

 

what happened?

 

GOP tax plan would shrink mortgage interest benefit?

 

So I get more but then I get less?

 

I hate it when they "give" you a break here and take more out there.

Nobody ever accused liberals of understanding math.

 

Why should you care what happens to your deduction if your total tax bill decreases?

 

In any event, the $4,000 estimate was not just from the tax cut, but an estimate of total gains including estimates for salary increases from lower business taxes.

[DC Tom]

Nobody ever accused liberals of understanding math.

 

They think math is nothing more than a tool of oppression the 1% uses to subjugate the 103%.

 

Because, y'know...there is a fundamental whiteness to it...

[TH3]

They think math is nothing more than a tool of oppression the 1% uses to subjugate the 103%.

 

Because, y'know...there is a fundamental whiteness to it...

GOP in charge bro...you do realize this tax bill goes against everything they - and posters like you - babbled about while the brown fella was in charge...

 

Maybe that is why this thread has so few post to it on the big day....

[grinreaper]

GOP in charge bro...you do realize this tax bill goes against everything they - and posters like you - babbled about while the brown fella was in charge...

 

Maybe that is why this thread has so few post to it on the big day....

It's always about race for you, isn't it?

[DC Tom]

GOP in charge bro...you do realize this tax bill goes against everything they - and posters like you - babbled about while the brown fella was in charge...

 

Maybe that is why this thread has so few post to it on the big day....

I just told myself this morning,"It's the middle of the week. Time for baskin's affirmation of his idiocy." I could almost set my watch by you.

It's always about race for you, isn't it?

I'd like to see him quote my views on Obama's tax policy.

[GG]

GOP in charge bro...you do realize this tax bill goes against everything they - and posters like you - babbled about while the brown fella was in charge...

 

Maybe that is why this thread has so few post to it on the big day....

 

With a life-long Democrat child in the White House, you're surprised why conservatives aren't gushing about this tax bill?

 

Have you posted at least one thing that wasn't utterly ridiculous?

[B-Large]

I thought the left wanted tax loopholes closed?

 

Or did you just mean loopholes for other people?

 

Flat/ Fair Tax- No Favorites, No Political Goodies, No WIFM....Adjust future flat tax rates to meet spending overruns for the last year. Its he only way to remove the political leverage politicians exercise over us, and for Americans to finally feel the pain when their government overspends...

Nobody ever accused liberals of understanding math.

 

Why should you care what happens to your deduction if your total tax bill decreases?

 

In any event, the $4,000 estimate was not just from the tax cut, but an estimate of total gains including estimates for salary increases from lower business taxes.

 

any idea of timeframe on that 4k increase? I mean we get a 3% cola, is that in addition to a COLA adjustment?

 

I question the pay increases estimate- yes some businesses will pass on savings to employees, but much of labor is market driven... i think there is fuzzy assumption there.

 

Id rather see most Americans get a massive tax cut, they can be separated from their money with relative ease... business owners, i have to think that saving goes to their own pocket (which is fine), toward upgrades or to pay down debt.

[GG]

 

 

any idea of timeframe on that 4k increase? I mean we get a 3% cola, is that in addition to a COLA adjustment?

 

 

 

Take any of those numbers with a grain of salt the size of Texas. That was a number thrown out by someone on Trump's team. So while the number itself is in question, the fundamentals are intact. You reduce taxes on business and individuals, the economy will grow, translating to jobs and wages.

 

There's a reason the markets were muted today. Most everyone expected a more tangible bill, rather than a reshuffling.

[Fadingpain]

I believe the Republican tax plan involves preying on the weakest and least able to defend themselves in society and then taking all the money for themselves. The exact details of it are not important.

 

The top 1% wealthiest Americans now control 38.6% of the country's wealth.

The poorest 90% of Americans control only 22.8% of the country's wealth.

 

So 1% of the population owns almost twice as much as the bottom 90%.

 

And people wonder why this country is completely !@#$ed.

[Doc Brown]

I believe the Republican tax plan involves preying on the weakest and least able to defend themselves in society and then taking all the money for themselves. The exact details of it are not important.

 

The top 1% wealthiest Americans now control 38.6% of the country's wealth.

The poorest 90% of Americans control only 22.8% of the country's wealth.

 

So 1% of the population owns almost twice as much as the bottom 90%.

 

And people wonder why this country is completely !@#$ed.

We'll see what they cut. The tax plan wasn't as bad as a I feared it would be and they made it more palatable by keeping that top income bracket at a 39.6% tax rate. My wife and I will pry pay a little more in taxes if the proposal stays as is as they capped out the local and state income tax deduction on the federal return at $10,000 for property taxes.

Edited November 3, 2017 by Doc Brown

[GG]

I believe the Republican tax plan involves preying on the weakest and least able to defend themselves in society and then taking all the money for themselves. The exact details of it are not important.

 

The top 1% wealthiest Americans now control 38.6% of the country's wealth.

The poorest 90% of Americans control only 22.8% of the country's wealth.

 

So 1% of the population owns almost twice as much as the bottom 90%.

 

And people wonder why this country is completely !@#$ed.

So you don't understand the plan, but still criticize it?

 

Idiot.

[Tiberius]

I believe the Republican tax plan involves preying on the weakest and least able to defend themselves in society and then taking all the money for themselves. The exact details of it are not important.

 

The top 1% wealthiest Americans now control 38.6% of the country's wealth.

The poorest 90% of Americans control only 22.8% of the country's wealth.

 

So 1% of the population owns almost twice as much as the bottom 90%.

 

And people wonder why this country is completely !@#$ed.

And the wealthy, or the politically active ones, are using their wealth to tip the political system farther and farther right. Oligarchy is just picking up steam.