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

[Jhoon]

and they are serving masters who own our media and are increasingly controlling our educational system.

Surely you didn’t think MSNBC was going to come out with stories about net-neutrality.

 

[levitate]

I just used CNN's calculator to see how it would affect my paychecks - http://www.cnn.com/2017/12/13/politics/calculate-americans-taxes-senate-reform-bill/index.html

$75-$125K, joint, 2 kids - my after tax income will go up 5.2%

And for comparison purposes, i changed the income to $500K+ to see how it would affect those guys and their after tax income goes down 27%

Why are we supposed to be mad about this?



EDIT: nvm. Those rich dudes itemize and would make out like bandits

shyt...ours looking to go down by 8%. Joint return, 2kids, $125k-$225k, no itemization...

 

[Jhoon]

The unemployment rate is already relatively low. Exactly how does tax breaks for corporations spur additional hiring ("Jobs!") in an already saturated job evironment?

Genuinely curious, any economists in here?

You see that’s where your off. When Obama was president, the talking point was tax cuts would stimulate job growth. The minute their guy won they realized they couldn’t imply the economy sucked so they switched it to “they will improve wages”.

I guess congress doesn’t know they could raise the minimum wage instead of wishing upon a star that corporations would raise wages.

 

[King Static X]

No they don't. They want socialism for themselves and "unregulated capitalism" for everyone else.

You know what...you're correct.

Them GOP mfers are just worthless pieces of mierda (sh*t) .

 

[LeVraiPapi]

Guys, corporations were never paying 35% in the first place. Never. Never. They have all those those deductions and credits they could claim.

With this new bill, they will pay close to 0

 

[wickedsm]

The unemployment rate is already relatively low. Exactly how does tax breaks for corporations spur additional hiring ("Jobs!") in an already saturated job evironment?

Genuinely curious, any economists in here?

silly goose, the windfall in dividends for the investors and the extra cash stockholders will have in hand from stock buybacks

=
new yachts and their staffing [jobs!]
all the new Chinese tutors the rich are gonna get for their kids to be like Princess Cheeto [jobs!]
someone to fill the pool with money so you can swim in it [jobs!]
interior designer for your newly purchased 6th mansion [jobs!]

i mean theres gonna be jobs jobs jobs!

 

[88m3]

Guys, corporations were never paying 35% in the first place. Never. Never. They have all those those deductions and credits they could claim.

With this new bill, they will pay close to 0

Yup. Also what really got me was the % they're letting corporations bring back cash and not taxing foreign income anymore.

 

[Mantis Toboggan M.D.]

Guys, corporations were never paying 35% in the first place. Never. Never. They have all those those deductions and credits they could claim.

With this new bill, they will pay close to 0

Given that they’re being encouraged to outsource jobs and stash money overseas, how long do we want to predict before our infrastructure collapses now? I’m predicting an economic depression within 3 years and society entirely collapsing within 5 if this doesn’t get reversed soon.

Yup. Also what really got me was the % they're letting corporations bring back cash and not taxing foreign income anymore.

And this is why I’m sticking with that prediction. The bill openly encourages the wealthy to take as much from the poor as they can.

 

[King Static X]

Guys, corporations were never paying 35% in the first place. Never. Never. They have all those those deductions and credits they could claim.

With this new bill, they will pay close to 0

You're right.

Rich people going to the bank soon like #MoMoneyNoProblems

.

 

[FAH1223]

 

[NaijaProdigy Redux]

The unemployment rate is already relatively low. Exactly how does tax breaks for corporations spur additional hiring ("Jobs!") in an already saturated job evironment?

Genuinely curious, any economists in here?

It doesn’t. People like me will just get the benefits through share buybacks, special dividends and increased dividends

Every single CEO I’ve talked to (due to my job) has said they’re just going to use the extra cash for increased return of capital

Also 35% corporate tax rate does not equal 35% effective tax rate. Most of these corporations are paying far lower than that

 

[Jhoon]

It doesn’t. People like me will just get the benefits through share buybacks, special dividends and increased dividends

Every single CEO I’ve talked to (due to my job) has said they’re just going to use the extra cash for increased return of capital

Also 35% corporate tax rate does not equal 35% effective tax rate. Most of these corporations are paying far lower than that

Most are paying nothing.

 

[King Static X]

The House just passed the tax scam bill again. Well, it's over for me...why did they have to do this when I'm about to start college next month?

My student debt is about be even greater.

 

[Tommy Fits]

The next two years I make out better but after that I'm better off under our current plan and I get fukked when I'm ready to buy a house

 

[88m3]

VICE News
21 hrs ·
The nonpartisan Congressional Budget Office estimates that premiums will rise by 10 percent.


The GOP tax bill guts Obamacare and will leave more people uninsured
The end of the individual mandate means health insurance rates will rise for everyone else.
NEWS.VICE.COM