How will Trump’s tax INCREASE affect you?

[Doc Brown]

22 minutes ago, Chef Jim said:

Nope. TCLA has zero effect on your state tax bill. My point is elimination of the deductibility of your state tax will not affect your fed tax bill enough to consider a move.   Now the elimination of your state tax altogether would make a relocation sensible but SALT didn’t change that. 

It’s the straw that can break the camel’s back.  We’re going to have to agree to disagree.

 

[leh-nerd skin-erd]

51 minutes ago, ALF said:

 

Opinion | Rick Scott tax plan bad news for retirees

So imagine my surprise when I saw that Senator Rick Scott recently introduced a plan for the Republican Party that would raise taxes on nearly half of all Americans, forcing seniors and working class families to pay more when they file their taxes every year. His plan also includes provisions that could sunset Medicare and Social Security, jeopardizing the health care and retirement benefits that millions of Florida seniors have spent their entire lives earning.

 

https://www.palmbeachpost.com/story/opinion/2022/04/18/senator-rick-scott-plan-would-force-seniors-pay-more-taxes/7333900001/

Hey Alf,

 

I clicked on this link.  There’s nothing in the article that hilights any of the Rick Scott plan that makes it bad for seniors.  It doesn’t go into any detail on why it benefits the non-fair-share-sharers, better alternatives that should be considered, or why the author write the plan “could” cause the demise of S3’s or Medicaid, v how it “would” cause the demise of these social programs. 
 

It was the equivalent of being caught at the wrong table at a graduation party when the crotchety old great uncle sits down and opines on life and how everyone always tried to screw him.  
 

What is it about this that caught your eye?  

[Chef Jim]

1 minute ago, Doc Brown said:

It’s the straw that can break the camel’s back.  We’re going to have to agree to disagree.

 

Possibly but I’m looking at the numbers here and how they relate to human behavior. It’s what I do for a living.  I hardly think that someone making $1m a year is going to pack up and move their whole family for losing a deduction that amounts to less than one week’s pay less in their paycheck over the course of the year?   Add to that that SALT may only be a temporary thing.  

[Chef Jim]

12 minutes ago, leh-nerd skin-erd said:

Hey Alf,

 

What is it about this that caught your eye?  

 

The headline apparently. 😏

[ALF]

59 minutes ago, leh-nerd skin-erd said:

Hey Alf,

 

I clicked on this link.  There’s nothing in the article that hilights any of the Rick Scott plan that makes it bad for seniors.  It doesn’t go into any detail on why it benefits the non-fair-share-sharers, better alternatives that should be considered, or why the author write the plan “could” cause the demise of S3’s or Medicaid, v how it “would” cause the demise of these social programs. 
 

It was the equivalent of being caught at the wrong table at a graduation party when the crotchety old great uncle sits down and opines on life and how everyone always tried to screw him.  
 

What is it about this that caught your eye?  

 

No details but I'm on SS and medicare and in a Florida newspaper . I do think Republicans will take both houses midterms , but not enough to over ride a veto. Scott might scare seniors with this though and Democrats will talk it up. 

[Chef Jim]

4 minutes ago, ALF said:

 

No details but I'm on SS and medicare and in a Florida newspaper . I do think Republicans will take both houses midterms , but not enough to over ride a veto. Scott might scare seniors with this though and Democrats will talk it up. 

What’s his proposal regarding SS and Medicare?  

[ALF]

13 minutes ago, Chef Jim said:

What’s his proposal regarding SS and Medicare?  

 

The more I look into it , he's just giving Democrats ammo to scare voters , it won't pass.

 

Scott’s “Skin In The Game” Plan Could Raise Taxes By $100 Billion In 2022, Mostly On Low- And Moderate-Income Households

Senator Rick Scott wants to "sunset" Social Security and Medicare

 

So --- if Scott actually understood his own proposal, the entire Social Security Act --- including Medicare and the Social Security Pensions almost all Americans over 70 are receiving monthly --- would either disappear (that’s what “sunsetting” means, by the way) or have to be re-enacted by Congress.

 

Well, yes. Congress COULD pass the entire Social Security Act word for word again. But will they? Will they not hold hearings? Is there nothing in the current Social Security Act, that some member(s) of Congress might want to change or eliminate? Try and imagine the scenario when the entire Social Security Act (let’s remember that includes the Medicare program – Parts A, B, C and D) needs to be re-authorized.

 

https://www.wamc.org/commentary-opinion/2022-04-15/senator-rick-scott-wants-to-sunset-social-security-and-medicare

[Chef Jim]

10 minutes ago, ALF said:

 

The more I look into it , he's just giving Democrats ammo to scare voters , it won't pass.

 

Scott’s “Skin In The Game” Plan Could Raise Taxes By $100 Billion In 2022, Mostly On Low- And Moderate-Income Households

Senator Rick Scott wants to "sunset" Social Security and Medicare

 

So --- if Scott actually understood his own proposal, the entire Social Security Act --- including Medicare and the Social Security Pensions almost all Americans over 70 are receiving monthly --- would either disappear (that’s what “sunsetting” means, by the way) or have to be re-enacted by Congress.

 

Well, yes. Congress COULD pass the entire Social Security Act word for word again. But will they? Will they not hold hearings? Is there nothing in the current Social Security Act, that some member(s) of Congress might want to change or eliminate? Try and imagine the scenario when the entire Social Security Act (let’s remember that includes the Medicare program – Parts A, B, C and D) needs to be re-authorized.

 

https://www.wamc.org/commentary-opinion/2022-04-15/senator-rick-scott-wants-to-sunset-social-security-and-medicare

I’m thinking he had no idea what sunsetting means. 
 

While the details of his proposal are sketchy but when over 40% of the households pay no federal taxes I think it’s time for some skin in the game. 
 

Regarding SS it’s really time for a major overhaul. Not for those like yourself already collecting but for future generations. We need to do away with the ability to collect at 62.  I think an FRA is fine but maybe do away with the 8% increase on delaying. Maybe a 5% increase?  I’m very much against a means testing for SS but it wouldn’t surprise me if we eventually see that. We need to incentivize people to save for their own retirements. Means testing would IMO do just the opposite. 

[leh-nerd skin-erd]

35 minutes ago, ALF said:

 

No details but I'm on SS and medicare and in a Florida newspaper . I do think Republicans will take both houses midterms , but not enough to over ride a veto. Scott might scare seniors with this though and Democrats will talk it up. 

Ah, so you believe that the most important thing to come from this type of editorializing is scaring seniors to impact the outcome of the midterms?  This the most recent version of Biden's infamous "They gon' put y'all in chains..." speech?   

 

I clicked on the links you shared with Chef Moneybag$$ and was hopeful there would be a more nuanced argument against Scott's proposal.  If it's there, I cannot find it.  Near as I can tell, the author feels that everything included in the SS and Medicare legislation is  untouchable, no improvements can be made to either program, and that to even suggest such a thing is aberrant and a crime against humanity.  Same with his proposal on school choice and parent's having a say in the programs they fund in large part.  

 

I am not at all interested in scuttling Social Security.  My wife and I have 40+ years of contributions to that entitlement and I certainly expect to collect from it.  Medicare is what it is, and financial problems with both programs notwithstanding, I can't imagine those programs being dismantled. 

 

 

 

 

 

 

[BillStime]

 

[T master]

On 4/18/2022 at 9:10 PM, BillStime said:

 

 

Okay so i just looked this up and the White house says that the rich only pay on average 8.2% to the tax man each year so i did the math & if 1 person in the US make $1 Billion in 1 year 8.2% of $1 Billion is $82000000 for just one year .

 

So i looked up how many Billionaires the there are in the US it went from 66 in 1990 to 616 in march of 2020 & each of those billionaires average about $279 billion a year so each year they have to pay $82000000 x 279 which equals ??? 

 

So seeing as in just 1 year 1 billionaire pays $82000000 which is more than any of us pay in a lifetime so i'll throw you a bone & say make it 10% but i'm thinking our gov't is just greedy & want to take as much money as they can from Americans .

 

And i'll add this if they would actually care about or watch how they spend the money that they already get & were fiscally responsible then i might say yah nail the rich guys but their not & not in any way they give money away & waste more money on the stupidest things i've ever seen .

 

So for that reason i have to disagree because the debt of this country is caused by those same politicians that we put in office & there's not one that has balanced the budget (well Clinton said he did but i'd love to see those books) .

 

If you & i were to right checks like they do & lie about things like that the covid pay outs were paid for (BS) we would be in jail but they continue to run up the deficit & get away with it year after year even given the fact that there has been a jump in Billionaires in the US & they are paying 200 times more every year than we ever will .

 

They are just a greedy bunch of bastards !! 

[T master]

3 hours ago, BillStime said:

3 hours ago, BillStime said:

 

 

Once again i'm calling BS Boden is lying again !! 

 

https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

 

This tells the story of how much each president added to the deficit which will tell us all just how much they lie & Biden needs to put on some boots because the BS is getting deep !! 

[SoCal Deek]

Let me see if I understand. Our elected officials have OVER SPENT by over $30 TRILLION and they want to blame the taxpayers? Hey Congress! Push back from the blackjack table… you’re marker isn’t good here anymore! 

Edited April 22, 2022 by SoCal Deek

[Over 29 years of fanhood]

On 4/19/2022 at 11:30 AM, Chef Jim said:

a hit to wealthier people along with SALT.  

This point is one I find truely irritating- yes it screwed higher tax blue state a bit more, but below  ‘average’ lifestyle/income HH aren’t hitting the SALT cap. It is absolutely a tax upper bracket tax hit to people from rich states with high property values and democrats keep trying to repeal it quietly in the background stuffing it in covid relief and infrastructure packages. 

[BillStime]

🎯

 

 

[BillStime]

 

[BillStime]

 

[BillStime]

 

[BillStime]

 

[Doc]

Dems are just throwing anything against a wall to see if it sticks.  Too bad for them it won't.

[SoCal Deek]

We might as well raise taxes…it’s the only thing HASN’T gone up in the last six months. 

[All_Pro_Bills]

37 minutes ago, SoCal Deek said:

We might as well raise taxes…it’s the only thing HASN’T gone up in the last six months. 

Or have they?  Higher property taxes due to inflated home prices.

[Tiberius]

 

[SoCal Deek]

1 hour ago, All_Pro_Bills said:

Or have they?  Higher property taxes due to inflated home prices.

👍That’s of course the amount, not the percentage rate. Biden’s going to go after the rate. Got to feed the beast!

[BillStime]

 

[\GoBillsInDallas/]

 

[Demongyz]

Trump raised my taxes so it wouldn't be the first time.

 

I guess asking that everyone pay taxes is a bad thing.

[All_Pro_Bills]

10 minutes ago, Demongyz said:

Trump raised my taxes so it wouldn't be the first time.

 

I guess asking that everyone pay taxes is a bad thing.

Yes, Trump raised my taxes too.  $11,800 in unexpected medical expenses last year that I cannot deduct because of SALT limits and itemized deductible limits of tax "reform" bill.  Part of the reason why every time some ding-doong here suggests I'm some Trump cult member I imagine hitting them on the head with a big rock.   

Edited May 12, 2022 by All_Pro_Bills

[B-Man]

 

 

 

How will the new GQP tax INCREASE affect you?

 

It won't.

 

There isn't any.

 

It was a proposal by one senator, in a senate with a Democrat majority.

 

The thread is a "squirrel" posted by our resident nut.

 

 

 

[Doc]

1 hour ago, B-Man said:

How will the new GQP tax INCREASE affect you?

 

It won't.

 

There isn't any.

 

It was a proposal by one senator, in a senate with a Democrat majority.

 

The thread is a "squirrel" posted by our resident nut.

 

Yeah but Ronna McDaniel...

[BillStime]

 

[BillStime]

 

[B-Man]

 

 

 

How will the new GQP tax INCREASE affect you?

 

It won't.

 

There isn't any.

 

It was a proposal by one senator, in a senate with a Democrat majority.

 

The thread is a "squirrel" posted by our resident nut.

 

 

 

 

As proved by his Lincoln Project post.

 

 

[Doc]

1 hour ago, B-Man said:

How will the new GQP tax INCREASE affect you?

 

It won't.

 

There isn't any.

 

It was a proposal by one senator, in a senate with a Democrat majority.

 

The thread is a "squirrel" posted by our resident nut.

 

 

 

 

As proved by his Lincoln Project post.

 

The Dems believed it.  Hence the "ultra-MAGA" moniker.  How dumb are they?

[BillStime]

 

 

[BillStime]

On 5/23/2022 at 8:03 PM, B-Man said:

 

GOP plan to raise taxes on the poor.

 

Same fake claim every two to four years.

 

No one but fools, believes this any more.

 

 

 

LOLz

 

Senator Rick Scott’s 11 point plan includes a tax increase.

 

RNC endorsed said plan.

 

 

 

 

 

Edited May 26, 2022 by BillStime

[BillStime]

Just now, B-Man said:

 

 

 

 

 

 

 

 

[ALF]

Millionaires at Davos say 'tax us more'

Millionaires Marlene Engelhorn and Phil White joined a Davos protest calling for higher taxes on the wealthy

They took to the streets on Sunday alongside left-wing activists to call for fairer tax systems worldwide.

 

"It's outrageous that our political leaders listen to those who have the most, know the least about the economic impact of this crisis, and many of whom pay infamously little in taxes. The only credible outcome from this conference is to tax the richest and tax us now."

 

https://www.bbc.com/news/business-61549155

[All_Pro_Bills]

45 minutes ago, ALF said:

Millionaires at Davos say 'tax us more'

Millionaires Marlene Engelhorn and Phil White joined a Davos protest calling for higher taxes on the wealthy

They took to the streets on Sunday alongside left-wing activists to call for fairer tax systems worldwide.

 

"It's outrageous that our political leaders listen to those who have the most, know the least about the economic impact of this crisis, and many of whom pay infamously little in taxes. The only credible outcome from this conference is to tax the richest and tax us now."

 

https://www.bbc.com/news/business-61549155

Is there anything in the tax code that prohibits the wealthy from voluntarily paying more?  If not, then cut a check for 20% of your net worth and hand it over to the tax man.  Frankly, I always find these statements made by the rich as buillsheet publicity stunts intended to curry favor and popularity with the activist mob but absent any real intent to pay "more". 

[ALF]

3 minutes ago, All_Pro_Bills said:

Is there anything in the tax code that prohibits the wealthy from voluntarily paying more?  If not, then cut a check for 20% of your net worth and hand it over to the tax man.  Frankly, I always find these statements made by the rich as buillsheet publicity stunts intended to curry favor and popularity with the activist mob but absent any real intent to pay "more". 

 

Not everyone would volunteer , change the code especially loop holes would be fair to all.