2017 GOP Tax Cut & Jobs Act: Republican majorities to vote on extension in 119th Congress before expiration on 12/31/25

Json

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These dudes are comic book villains :what:

Not that it's surprising policywise, but do they have to try do do all this dumb shyt in one go?


And Kansas is the Koch archetype. This tax plan has Koch written all over it.

Kansas is a shythole thanks to Koch flunkies like Brownback.
Hillary wanted Alaska for America, while Republicans are pushing Kansas for America.:scust:
Didn’t Kansas vote him back even after his policy sunk the state finances??
 

ADevilYouKhow

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got a call for three nines
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Scholar

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Same old talking points year after year. I don't understand why democrats waste time entertaining them. Republicans don't believe anything. They only believe in saying whatever it takes to continue to transfer wealth to the rich.

A discussion about trickle down and supply side economics in 2017? Come on, we have years of evidence showing it doesn't work.
 

Jimi Swagger

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It's bittersweet. I am still reviewing. I am not yet a parent and like the amendment for 529 plans to extend to public, private and religious K-12 schools which families choices beyond their prescribed school districts. Also, the increased standard deduction (most poor/middle class people don't itemize anyway) and child care credit to $1600 (from my understanding Ivanka Trump advocated for $2K). So for a married couple with two kids, the increased standard deduction covers the loss of the personal dependent deduction. If you have three kids, you may pay more even with the increased child care credit (expires at 18 and eliminated as your income increases). Also removing the mandate for health insurance is good but may kill Obamacare since people aren't forced to enroll. But maybe insurance companies will cut their rates to remain competitive when people are no longer coerced into doing business.

Rich individuals (especially married high earners) in blue states will have it the hardest; rich is California, CT, and NY =/= being rich in Mississippi :mjcry:. Small businesses (> 5 million dollars in sales per year) take a hit as will family farms (farm subsidies may offset this). The bill isn't finalized, they still have to reconcile with The House. The House bill does not permit professional service entities to get the reduced passthrough rate. Not sure whether the Senate Bill has the same provisions. High income people who receive W-2 forms to set up should set up S corporations so they don't lose all of their business related expenses currently claimed as itemized deductions since said itemized deductions are being eliminated. Seem the biggest quip from online posters is that the US corporate tax rate is lowered to from 35% to 20% as it is currently one of the highest in the world. Raising taxes only passes the burden to the consumer and employees with higher cost and lower wages. Cutting spending will improve the deficit as we take in nearly 4 trillion a year (three times as more from the country's inception to 1950s total). We don't have a revenue problem, we have a spending problem. Bottom line is make an appointment with your FA soonest.

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