Correct.
They are paying off their donors and the lobbyists.
They didn't contribute all those millions to Congress and expect no payoff.
If you a little middle class guy, well, you're screwed in this bill.
Posted on 11/02/2017 7:21:40 AM PDT by GIdget2004
If you itemize, own a home, and live in a high tax state, you are going to be paying more in this bill because they already told us they are eliminating or limiting certain deductions.
The changes they want to pass into law will also have a devastating effect on the housing industry and real estate prices in many states (CA, NJ, NY, CT, etc.) That is why many mortgage and home building groups are opposing the bill.
Since a home is many families biggest asset, and a healthy real estate market insures economic growth, the bill will be poison pill to many.
Carried Interest? No, that isn’t an option? Can’t be discussed? Why? I wonder...
“The GOP chose to raise taxes on millions of other Americans in order to “pay for” the cuts to corporations.”
It is amazing to me that you are willing to be so dogmatic when we don’t yet have brackets. It’s like claiming a horse won a race before the race is run.
“They last framework bill passed 216-212. “
That was a BUDGET FRAMEWORK and a decent bill considering it’s the first budget in over 10 years.
All it did was enable a change to the tax structure and it was necessary, procedurally, to enable the Senate to use reconciliation to pay the tax bill.
Oh, and they will throw that budget out the window as soon as they are done with the tax bill.
Absolutely true.
You are totally correct. This is a ryan chamber of commerce bill tomraiae individual taxes to pay for their donors tax cut. Brady is just a ryan dirtbag.
My question about the doubling of the “standard deduction of $12,000” is: Does this mean that each person claimed as a dependent is now worth $24,000 in being deducted from gross income when itemizing, or that it is only for those who do not itemize? Or is the $24,000 for two people instead of $12,000 whether or not one is itemizing?
Should have kept it simple just cut the income tax brackets by 5% and the corporate to 20%, keep everything else the same to get a pass.
Should have kept it simple just cut the income tax brackets by 5% and the corporate to 20%, keep everything else the same to get a pass.
“Anyone who disputes that basic fact is dishonest or completely ignorant of the facts. “
Absolutely true and I’m prepared to argue that fact with anyone that has the stamina for it.
Not sure there is actual legislative text released - maybe I just haven’t found it yet.
Best reporting: https://www.wsj.com/livecoverage/tax-bill-2017
Correct.
They are paying off their donors and the lobbyists.
They didn't contribute all those millions to Congress and expect no payoff.
If you a little middle class guy, well, you're screwed in this bill.
Why should the rest of the country subsidize these states that seem to believe that they do not have to follow immigration rules and want us to pay for all the freebies they give away.
Let them work on their state politicians to reduce their tax burdens by dropping some of the stupid things their taxes are used for.
The real problem is no one wants cuts to the EPA, DOD, of the State Department. Reasonable cuts can pay for tax reform many times over.
“If you a little middle class guy, well, you’re screwed in this bill.”
Same old, same old.
F them all.
That isn't being dogmatic.
That is a fact.
How will Trump pay for needed corporate tax cut? With other taxes
“Or is the $24,000 for two people instead of $12,000 whether or not one is itemizing?”
It’s that one above.
However, the individual exemptions will be eliminated. If you have a couple of kids you’re already in the hole. And will be paying more unless the somehow place you in a lower bracket.
The bill is bull spit! It rewards those who don’t pay taxes in the first place. Brady, a Texan takes good care of his folks. This bill will cripple home construction and cut jobs. There is no break for the middle class.
True, spending cuts were never part of this debate (including mandatory spending).
What this bill really does is transfer a portion of the current Federal tax burden from corporations to individuals and families.
People can attack that statement all they want - but it is a fact. That is what the GOP is doing.
Ny is a low property tax state but high income tax. This will kill New York but help in New Jersey.
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