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Republican Tax Plan (a nothingburger with cheese)


Tiberius

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4 hours ago, Nanker said:

There are a few of those TBDisms you might encounter once in awhile. Maroon - as in, You’re such a maroon - was very popular for some time. Though it took Aussiew and CGF a bit to catch on. It drove ‘em nuts at first.  :P

 

 

Oh absolutely, I see them frequently (4mer keeps a number of them active within his repertoire) but have never had to actually look any of them up.

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14 hours ago, Nanker said:

There are a few of those TBDisms you might encounter once in awhile. Maroon - as in, You’re such a maroon - was very popular for some time. Though it took Aussiew and CGF a bit to catch on. It drove ‘em nuts at first.  :P

 

 

Maroon isn't a TBDism.  It's from Looney Tunes, as a reference to escaped slaves.

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9 hours ago, KevinRome said:

Yah, it is a big eff’ing deal. I never anticipated targeting progressives on taxes, but this is just brilliant. Love it. 

 

Amazing how a POTUS come along who doesn't even pretend to give a **** what the MSM thinks, just as every aware citizen ignores the MSM as well.

 

 

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14 hours ago, KevinRome said:

Yah, it is a big eff’ing deal. I never anticipated targeting progressives on taxes, but this is just brilliant. Love it. 

 

Can't imagine there will be much complaining from high income leftists.  They feel they should pay more in taxes anyway, right? 

Edited by keepthefaith
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“This is Armageddon,” was how Rep. Nancy Pelosi described the GOP’s tax reform bill back on Dec. 4, before it was passed and inspired companies like AT&T, Boeing, Fifth Third Bank, Wells Fargo, and others to issue employee bonuses, hike wages, commit to domestic reinvestment, and increase philanthropic donations.

 

Armageddon continued into the new year as Southwest Airlines announced that it, too, would be giving a $1,000 cash bonus to each of its full- and part-time employees.

 

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CsazvyAF_normal.jpg CNBC

 

@CNBC ......JUST IN: Southwest Airlines to give all full-time and part-time employees a $1,000 cash bonus on Monday & company will also make $5M in charitable donations and invest in its Boeing fleet due to tax reform passage. http://cnbc.com 

 

 
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So for grins I re-ran my 2016 return using the new rules. Federal bill ends up being about 8% less and I think it'll play similar for most people. 

 

Playing with a couple different scenarios, I was thinking about the impending blue state deduction apocalypse. If you're making a certain amount of income, chances are your triggering the AMT anyway, so property and state taxes really don't matter from a deduction standpoint. There are probably a lot of households in big metros that fall into this category and for them, they should see a decrease in their tax bill. 

 

That means the folks that are really going to take it in the pants are those who have overextended themselves from a real estate perspective (I don't mean this as a disparaging comment. I realize in certain parts of the country, the only way to own a home is to overextend.) They haven't had  enough income to to trigger the AMT so have been realizing the full state/property deductions and because of state/local rates they're going to hit that 10K ceiling fairly quickly.  

 

Disclaimer: I am in no way a tax expert, so could be off base and I only looked at Married/Jointly.

 

 

Edited by Kevbeau
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3 hours ago, B-Man said:

“This is Armageddon,” was how Rep. Nancy Pelosi described the GOP’s tax reform bill back on Dec. 4, before it was passed and inspired companies like AT&T, Boeing, Fifth Third Bank, Wells Fargo, and others to issue employee bonuses, hike wages, commit to domestic reinvestment, and increase philanthropic donations.

 

Armageddon continued into the new year as Southwest Airlines announced that it, too, would be giving a $1,000 cash bonus to each of its full- and part-time employees.

 

 

 

How is it that Dems believe a word that comes from the mouths of Pelosi and Shumer? 

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Pepco says it will lower electric bills for almost 300,000 ratepayers in D.C., largely because its corporate tax rate was slashed from 35 to 21 percent in GOP tax bill.pic.twitter.com/St9Vym5ILF

DTGwUobX0AEdsxL.jpg

6:24 AM - 9 Jan 2018
 
 
 
"The worst bill in the history of the United States Congress." - Nancy Pelosi
 
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Edited by B-Man
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Pelosi: Higher wages, better benefits are “pathetic” & “insignificant”
Democrat leader Nancy Pelosi says the pay increases, bonuses, and better benefits companies are giving to workers after Republicans passed the tax cuts bill are "pathetic" and "insignificant" "crumbs"
 
 
 
This is a devastating and incredible gaffe from Nancy Pelosi that will likely fuel many Democrats' concerns that she is killing her party's efforts to appeal to working class voters again.
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