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Time to trade your car in

Class warfare alert.

LOL....funny when some minion reads a few talking points and decides to comment.

the middle class will feel the relief in their wallets. the public knows not to listen to DNC talking points/liberal lying media. well most do anyway.
 
For private jets, you’ll pay less taxes if you do. What a fvcking joke. A tax cut for private jet owners? Oh, and teachers can no longer write off school supplies.
At least be honest. There is not a tax break for private jets just a clarification of existing law. And Uber liberal democrat sherrod brown is responsible for putting that clarification in
 
the middle class will feel the relief in their wallets.

We are all going to eventually feel it in our ass if we keep running up the tab. Except for the super rich, for whom nationality means very little.

And here's the funny thing about being middle class (traditional middle class, how the hell we now count households making a quarter million a year as middle class is beyond me and anyone else that grew up in a blue-collar home) and "tax cuts": you really don't even notice it. I think W's cuts put about $50 more a month in my wallet. Folks like me are more likely to notice how the economy affects them personally. I wonder how they are going to vote in 2020 when their jobs are still overseas and still replaced with lower paying jobs.
 
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Looks like the senate bill actually increases the amount from $250 to $500.

Best yet is I can now put money aside tax free for my kids private school.

Looks great
 
For teachers I think doubling the standard deduction will more than make up for the 250 $ loss. And I doubt many teachers are itemizing .

Not to mention you're cherry picking a version of the bill. The other version doubles it.

And full disclosure, my wife is a teacher and I'd be more than fine giving up that 250 if the standard deduction doubled.
 
Although the OP is 100% wrong, and teachers will soon be able to deduct double what they could before, the fact that anybody would gripe about this bill is ridiculous. Of course it helps some more than others, but I don't see the left complaining when people are paying taxes...only when they are allowed to pay less.

Who would complain about not paying taxes on your first $24,000? Did Obama give you that kind of deal? What about doubling the child tax credit? Did Obama do that? And who do these rules benefit more? A young, middle class, married couple with two kids or a billionaire? That's what I thought.
 
Big country I would. My tax rate is going up and my deductions are above the new standard deduction at this time, but with the new bill I lose a lot of my deductions. So I Am going to get hit two ways.

I am not a billionaire and not even close to it.
 
Big country I would. My tax rate is going up and my deductions are above the new standard deduction at this time, but with the new bill I lose a lot of my deductions. So I Am going to get hit two ways.

I am not a billionaire and not even close to it.
Business income? Or 1%er
 
Although the OP is 100% wrong, and teachers will soon be able to deduct double what they could before, the fact that anybody would gripe about this bill is ridiculous. Of course it helps some more than others, but I don't see the left complaining when people are paying taxes...only when they are allowed to pay less.

Who would complain about not paying taxes on your first $24,000? Did Obama give you that kind of deal? What about doubling the child tax credit? Did Obama do that? And who do these rules benefit more? A young, middle class, married couple with two kids or a billionaire? That's what I thought.

Here is some more reading. Are you not intelligent enough to understand what it says or are you just a damn liar?

https://www.washingtonpost.com/news...lly-thought-cbo-finds/?utm_term=.5e8e714aa152
 
I'm on record as not being a fan of Trump. And I'm not. But I spent a few hours yesterday looking through the changes and if you have three or less kids it helps you. If you have four or more, the abolition of the personal exemption isn't overcome by doubling the standard deduction and it hurts you. My wife and I are school teachers and we spend a lot of money on our kids. But this is more than offset by the doubling of the personal exemption. Plus...I lost most of the write off for buying all these supplies because the deduction wasn't enough to offset the loss of time and headache to keep receipts and document every time I bought something. So I didn't even claim it. The increase in standard deduction is a whole lot simpler.

But I'm also a business owner who files a K1 as an s corp. This is the filing status of the vast majority of small businesses in our country. This is a pass through entity in which the profits pass through and is taxed at your personal individual federal tax bracket. The new plan will set the business income aside and no longer tax you at a personal rate (which can be 28, 31, etc percent) and taxes you at a flat 15%. This helps me....a lot. And trust me, with two kids in college I ain't rich.


But Raoul brings up a point. If this does t grow the economy it will add to the deficit.
 
Honestly, who do you think benefits from this tax bill?

A lot of people from all walks of life will benefit from this. This thread has already mentioned the standard deduction doubling, the child tax credit doubling, the pass through income deduction for small businesses increasing quite substantially, and the top rate will either stay the same or only move 1% or so, depending on the final bill. So the middle class wins big. Corporations also will see a rate drop from 35% to 20%, so working people will see a benefit from that as more and more companies invest back into the US economy. Drilling in ANWR will take place, which will be a huge boom to the economy in Alaska as well as build our oil reserves. People will no longer be forced to buy health insurance or face a tax penalty. So many good things are happening because of this bill.
 
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A lot of people from all walks of life will benefit from this. This thread has already mentioned the standard deduction doubling, the child tax credit doubling, the pass through income deduction for small businesses increasing quite substantially, and the top rate will either stay the same or only move 1% or so, depending on the final bill. So the middle class wins big. Corporations also will see a rate drop from 35% to 20%, so working people will see a benefit from that as more and more companies invest back into the US economy. Drilling in ANWR will take place, which will be a huge boom to the economy in Alaska as well as build our oil reserves. People will no longer be forced to buy health insurance or face a tax penalty. So many good things are happening because of this bill.

You realize the individual tax changes are temporary?

You realize when the young and healthy folks go back to not buying healthcare insurance, everyone else's premiums go back up, like the 10% each year projected by the CBO, above and beyond whatever increase may or may not have occurred without this legislation?

You realize a lot of those in the under 75k income level are retired folks on a fixed income, relying partly on Medicare and Medicaid, which will both be cut?

You realize the folks in the under 30k income category get no savings, right from the get go?
 
You realize the individual tax changes are temporary?

You realize when the young and healthy folks go back to not buying healthcare insurance, everyone else's premiums go back up, like the 10% each year projected by the CBO, above and beyond whatever increase may or may not have occurred without this legislation?

You realize a lot of those in the under 75k income level are retired folks on a fixed income, relying partly on Medicare and Medicaid, which will both be cut?

You realize the folks in the under 30k income category get no savings, right from the get go?

Too much nonsense to even address with this one.
 
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if we were intelligent enough to think for ourselves and not blindfully swallow whatever Fox News wants us to believe and we would listen to anyone non-partisan or listen to what any of the dozens of experts who have said for four days now, maybe someone could respond.

FIFY
 
Actually CUNTry. Some of us know how to read and interpret ourselves. We don’t need to be “told” by any of the political hacks you quote. (That includes the worthless CBO’s static analysis).
 
The problem with this argument is that most of you have a need to see this thing as all good or all bad in order to validate your previously held ideological positions. These things are never that simple.

QBU...out of curiosity, what deductions are you losing. I'm a business owner and this thing has a very positive net outcome for me.
 
The problem with this argument is that most of you have a need to see this thing as all good or all bad in order to validate your previously held ideological positions. These things are never that simple.

QBU...out of curiosity, what deductions are you losing. I'm a business owner and this thing has a very positive net outcome for me.

I appreciate the fact that there is a reasonable person on here.
 
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