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| Re: GOP Tax Plan (1481610) | |
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Re: GOP Tax Plan |
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Posted by Spider-Pig on Sat Dec 16 21:06:13 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 20:59:50 2017. “NYC and the West Coast cities” don’t have the majority of voters.The barista who moves to a house on a bus line still lives in the same state and has the same worthless vote relative to someone who lives in a empty state that’s economically worthless. |
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Posted by Henry R32 #3730 on Sat Dec 16 21:09:56 2017, in response to Re: GOP Tax Plan, posted by Spider-Pig on Sat Dec 16 21:06:13 2017. I'm saying that barista has no need to live in a high cost city. They can move anywhere in the country with lower cost of living, a lower cost of living that is possible in large part due to right wing policies. |
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Posted by ClearAspect on Sat Dec 16 21:20:24 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sat Dec 16 18:08:11 2017. Leftist scare tactics...Will you stop fucking pretending youre this fucking moderate, just admit youre a fucking right wing ass kisser already. Cause you are truly full of shit |
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Posted by ClearAspect on Sat Dec 16 21:22:02 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 21:09:56 2017. And 7 of the top 10 states with high unemployment are ones with right wing policies like tight to work.Good argument there. |
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Posted by ClearAspect on Sat Dec 16 21:22:45 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sat Dec 16 18:18:53 2017. So you are all of America, gotcha. |
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Posted by Chicagomotorman on Sat Dec 16 21:33:28 2017, in response to Re: GOP Tax Plan, posted by https://salaamallah.com/ on Sat Dec 16 12:28:52 2017. From 25% to 22%. Thank you President Donald John Trump. |
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Posted by ClearAspect on Sat Dec 16 21:36:06 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 15:59:06 2017. So your post omits 50% of Americans. Good job there busdy, but you pass it off as if most Americans make off ahead. Then when confronted you decide to switch gears and say you come ahead and justify it. Then you completely ignore the sunset clause part saying “oh well” for 8 years but forget that the corporate tax cut is permanent. You cant even defend the sunset clause.Typical right winger, cant defend things so switch it up. Thats why right wingers are full of shit. They talk country, but really only care abot themselves, and thats why such polciies fail. |
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Posted by Spider-Pig on Sat Dec 16 21:36:55 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 21:09:56 2017. I agree with you that people should move to cheaper states. |
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Posted by AlM on Sat Dec 16 21:58:17 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sat Dec 16 20:46:18 2017. True. But far from the only one where people will lose out. |
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Posted by AlM on Sat Dec 16 22:03:47 2017, in response to Re: GOP Tax Plan, posted by Spider-Pig on Sat Dec 16 21:36:55 2017. But why shouldn't they also move to Bishop, CA, Burns, OR, Walla Walla, WA, or Oneonta, NY? Except then there vote won't count for much. |
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Posted by https://salaamallah.com/ on Sat Dec 16 22:04:14 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sat Dec 16 21:33:28 2017. only for the rich |
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Posted by https://salaamallah.com/ on Sat Dec 16 22:19:52 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 21:09:56 2017. i dont see why i should have to leave california |
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Posted by https://salaamallah.com/ on Sat Dec 16 22:31:47 2017, in response to Re: GOP Tax Plan, posted by ClearAspect on Sat Dec 16 21:36:06 2017. iawtp |
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Posted by Henry R32 #3730 on Sat Dec 16 22:42:39 2017, in response to Re: GOP Tax Plan, posted by ClearAspect on Sat Dec 16 21:36:06 2017. I also ignored the fact that it snowed today. The sunset clause and it snowing today have equal effect on my tax savings over the next eight years - none.I don't need to defend anything. The only person who's pointed out an error in my statement was AIM with mentioning the personal exemption is going away, being replaced and exceeded by the doubled standard deduction. And if more people cared only about themselves / their families / their friends, and less about people they don't even know, the majority of Americans would be in a better place. Because of people writing their congresscritter about how they specifically would be hurt, a lot of the stuff that was going to be cut was put back in (i.e. up to $10,000 in State & Local Tax Deduction, interest on mortgages of up to $750,000 instead of $500,000). As for your complete asspull of 50% of Americans, families with 2 or fewer children also receive tax reduction. So, at this point, we have you, the so-called liberal, defending the super rich keeping the deductions only they benefit from ($1m mortages, state and local taxes higher than $10,000) at the expense of those who do not even own property. Good job. Like I said, if you're not happy with it, feel free to cut the IRS a check. In your case I am certain the government will be more responsible with the money than you would be, even if that use was light piles of cash on fire to keep a vacant government building heated for the night. |
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Posted by AlM on Sat Dec 16 22:52:37 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 22:42:39 2017. Under this plan, it appears (with my rudimentary understanding of tax calculations) that a single dude (or dudette, or dudx) making $60,000 a year (roughly the median salary) will save about $2600 / year.This sentence was not about you specifically, and it was significantly deceptive, and not only because of the error that I pointed out, but also because it is based on the erroneous assumption that this generic person is very much like you, when often they are not. The part of the post that was about you was, of course, about you. |
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Posted by Chicagomotorman on Sat Dec 16 22:54:52 2017, in response to Re: GOP Tax Plan, posted by https://salaamallah.com/ on Sat Dec 16 22:04:14 2017. I'm not rich. |
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Posted by Chicagomotorman on Sat Dec 16 22:55:27 2017, in response to Re: GOP Tax Plan, posted by https://salaamallah.com/ on Sat Dec 16 22:31:47 2017. Figures |
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Posted by Henry R32 #3730 on Sat Dec 16 22:56:05 2017, in response to Re: GOP Tax Plan, posted by https://salaamallah.com/ on Sat Dec 16 22:04:14 2017. You really don't understand how tax brackets work, do you.Individuals making between $44,300 and $50,700 had their top bracket drop from 25% to 12%. From $50,700 onward it dropped from 25% to 22%. Or, do you consider $50,700 "rich"? And that's individuals, for couples the numbers are significantly better. |
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Posted by Henry R32 #3730 on Sat Dec 16 23:03:01 2017, in response to Re: GOP Tax Plan, posted by AlM on Sat Dec 16 22:52:37 2017. That line was also not about anyone other than this generic individual, who is fairly average. Single, no kids, less than $10,000 in property taxes. |
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Posted by AlM on Sat Dec 16 23:36:37 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 23:03:01 2017. Single, no kids, less than $10,000 in property taxes.But quite likely to be able to itemize deductions in 2017 and less so in 2018, which significantly diminishes their savings from the tax bill. And the relevant criterion for the 10K threshold is property tax plus income tax. Let's say your single person has 6K in mortgage interest, 6K in real estate tax, 6K in income tax, and 1K in charitable deductions. In 2017, they can shield 23K from their taxes (adding in the 4K exemption). In 2018, they can shield 6K +10K + 1K = 17K. There goes a lot of the savings. |
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Posted by Easy on Sun Dec 17 00:02:32 2017, in response to Re: GOP Tax Plan, posted by AlM on Sat Dec 16 23:36:37 2017. But the tax rates are lower, no? |
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Posted by gp38/r42 chris on Sun Dec 17 01:16:23 2017, in response to Re: GOP Tax Plan, posted by AlM on Sat Dec 16 19:37:24 2017. New York metro is among the worst.https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/ |
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Posted by gp38/r42 chris on Sun Dec 17 01:20:27 2017, in response to Re: GOP Tax Plan, posted by ClearAspect on Sat Dec 16 21:20:24 2017. What a great mature argument!! |
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Posted by gp38/r42 chris on Sun Dec 17 01:24:37 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sun Dec 17 01:16:23 2017. Sorry, don't know why that reposted |
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Posted by Fred G on Sun Dec 17 04:32:02 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sat Dec 16 19:08:48 2017. Right and like New York there are other high-priced areas mostly around big cities. Somebody living in Vermont or Nebraska owning a house that’s close to median value won’t really be affected by a $10,000 cap. |
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Posted by AlM on Sun Dec 17 08:17:59 2017, in response to Re: GOP Tax Plan, posted by Easy on Sun Dec 17 00:02:32 2017. Yes. I keep saying many people will roughly break even, but no one seems to be paying attention. The lower tax rates will be roughly offset by the lost itemized deductions.What so many people aren't getting is that your lost itemized deductions can be significant even if your real estate tax is under 10K. |
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Posted by AlM on Sun Dec 17 08:19:28 2017, in response to Re: GOP Tax Plan, posted by gp38/r42 chris on Sun Dec 17 01:20:27 2017. On the other hand, he was provoked. I post detailed mathematical explanations as to why the tax law is roughly a break even for many people, and you call it left wing hysteria. |
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Posted by https://salaamallah.com/ on Sun Dec 17 08:20:10 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sat Dec 16 22:55:27 2017. figures what ? |
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Posted by https://salaamallah.com/ on Sun Dec 17 08:20:47 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sat Dec 16 22:54:52 2017. then this is NOT for you |
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Posted by https://salaamallah.com/ on Sun Dec 17 08:21:29 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 22:56:05 2017. republicans favor the rich onlyFACT |
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Posted by AlM on Sun Dec 17 08:28:12 2017, in response to Re: GOP Tax Plan, posted by Fred G on Sun Dec 17 04:32:02 2017. Somebody living in Vermont or Nebraska owning a house that’s close to median value won’t really be affected by a $10,000 cap.This is not an unreasonable example for Vermont or Nebraska. And even if their real estate plus income tax is only 8K, they still lose 4K in itemized deductions. |
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Posted by ClearAspect on Sun Dec 17 08:30:18 2017, in response to Re: GOP Tax Plan, posted by AlM on Sun Dec 17 08:19:28 2017. Chris pretends he is a moderate when he doesnt have the ability or will to criticize conservative or right wing ideals and his piss poor defense is “its known already” but you have this knack for bringing out and pointing out lnown leftist stereotypes. Im just saying youre full of shit. He never goes after olog or r2 or others for their shit but nope, left wing is like a dog whistle to Chris and he needs to be called on his bullshit |
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Posted by AlM on Sun Dec 17 08:42:31 2017, in response to Re: GOP Tax Plan, posted by ClearAspect on Sun Dec 17 08:30:18 2017. Right. I try to only bring out known leftist stereotypes when I have evidence to back them up, but Chris won't look at that. |
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Posted by Joe V on Sun Dec 17 10:06:40 2017, in response to GOP Tax Plan, posted by TransitChuckG on Sat Dec 16 06:07:55 2017. 1st or 2nd payroll in January will probably lower federal witholdings. But the federal withholding algorithm knows only your salary and how many exemptions you state. It knows nothing else in your life, like medical expenses, mortgage load, property taxes, state income taxes, interest and dividend income.The middle class in downstate NY, NJ, some PA Philly suburbs, western CT, eastern MA, Chicago area, CA will be lucky to break even on this. So to avoid a nasty surprise when doing your 2018 incomes taxes in March or April 2019 is to fill out a new Federal W4 and take out a dollar amount more by however much they lower your 2018 witholdings. Worst comes to worst, you'll have a pleasant surprise in a big refund in April 2019. |
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Posted by Joe V on Sun Dec 17 10:07:58 2017, in response to Re: GOP Tax Plan, posted by chicagomotorman on Sat Dec 16 10:50:59 2017. You must have calculated it wrong. |
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Posted by Joe V on Sun Dec 17 10:12:11 2017, in response to Re: GOP Tax Plan, posted by AlM on Sat Dec 16 19:37:24 2017. If you rent , even a simple 2 family house, and your landlord loses a part of his property tax deduction, and pays more income tax as a result, he will NOT eat it, he will raise your rent, and you can't deduct that at all. |
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Posted by Joe V on Sun Dec 17 10:15:12 2017, in response to Re: GOP Tax Plan, posted by R2ChinaTown on Sat Dec 16 18:11:38 2017. Some day, you will be 50 years old. Then you will stop snearing at other people's medical expenses, you will have your own to worry about, possibly with no insurance. |
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Posted by gp38/r42 chris on Sun Dec 17 10:23:38 2017, in response to Re: GOP Tax Plan, posted by Joe V on Sun Dec 17 10:12:11 2017. Deductions on investment property is different than deducting the mortgage deduction or taxes on a primary residence |
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Posted by Dave on Sun Dec 17 10:24:44 2017, in response to Re: GOP Tax Plan, posted by Henry R32 #3730 on Sat Dec 16 22:56:05 2017. Individuals making between $44,300 and $50,700 had their top bracket drop from 25% to 12%.No, it dropped from 25% to 22%. Single 10 percent: $0 to $9,525 12 percent: $9,525 to $38,700 22 percent: $38,700 to $82,500 24 percent: $82,500 to $157,500 32 percent: $157,500 to $200,000 35 percent: $200,000 to $500,000 37 percent: More than $500,000 |
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Posted by gp38/r42 chris on Sun Dec 17 10:25:49 2017, in response to Re: GOP Tax Plan, posted by AlM on Sun Dec 17 08:42:31 2017. It's Clear's response whenever we he has nothing better to come back with. I don't even bother with responses like that.What I find more humorous is that he thinks he can diagnose me through a few posts on an internet message board. |
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Posted by gp38/r42 chris on Sun Dec 17 10:26:51 2017, in response to Re: GOP Tax Plan, posted by Dave on Sun Dec 17 10:24:44 2017. That may have been a typo. |
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Posted by Joe V on Sun Dec 17 10:39:46 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sat Dec 16 21:33:28 2017. Trump had NOTHING to do with it.GOP leaders in the House and Senate wrote it entirely and in isolation. The House bill had a property tax cap of $10K. The Senate bill originally had nothing, then Senator Collins, who you must regard as a flaming liberal, demanded it in the Senate bill, as well as state income tax , and the Medical deduction. The Senate bill is pretty much what prevailed. Were it not for her, we'd all being getting screwed up the ass. You rent, so you don't care. You had a government job with free medical and now retired so likely don't pay much either. The rest of us live in real world. |
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Posted by Chicagomotorman on Sun Dec 17 10:44:23 2017, in response to Re: GOP Tax Plan, posted by https://salaamallah.com/ on Sun Dec 17 08:20:47 2017. If I'm going to pay less in taxes, then yes, it's for me. |
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Posted by Chicagomotorman on Sun Dec 17 10:46:15 2017, in response to Re: GOP Tax Plan, posted by Joe V on Sun Dec 17 10:07:58 2017. Last I checked, 22 is less than 25. |
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Posted by Chicagomotorman on Sun Dec 17 10:46:50 2017, in response to Re: GOP Tax Plan, posted by Joe V on Sun Dec 17 10:15:12 2017. I think he is over 50. |
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Posted by Joe V on Sun Dec 17 10:49:37 2017, in response to Re: GOP Tax Plan, posted by AlM on Sun Dec 17 08:17:59 2017. Very easy to pay $10K in property taxes.That's what my mother pays on her 2,000 sq ft townhouse (no mortgage) worth about $400K, bought at $160K 18 year ago. Being worth more is not cash and it does not mean you have the cash to pay it. |
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Posted by Joe V on Sun Dec 17 10:52:07 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sun Dec 17 10:46:15 2017. Wait for you accountant before your back of the napkin analysis. |
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Posted by Joe V on Sun Dec 17 10:52:24 2017, in response to Re: GOP Tax Plan, posted by Chicagomotorman on Sun Dec 17 10:46:50 2017. He's about 28. |
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Posted by gp38/r42 chris on Sun Dec 17 11:09:33 2017, in response to Re: GOP Tax Plan, posted by Joe V on Sun Dec 17 10:49:37 2017. Another NYCentric. |
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Posted by Spider-Pig on Sun Dec 17 11:23:15 2017, in response to Re: GOP Tax Plan, posted by Joe V on Sun Dec 17 10:52:24 2017. LOL! |
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