Posted on 11/23/2017 7:51:57 PM PST by Bratch
That’s a lie, and you should know it.
“That’s a lie, and you should know it.”
They’ve been proposed but none have been enacted. So unless you can name a few I’ll stand by my original statement.
L
“Change via the political process seems to involve raising taxes on a working family of 4 who itemize anywhere from $2,500 to $9,000.”
Do you even understand how itemized deductions work? It doesn’t pay to itemize an amount less than your standard deduction. For your hypothetical family of four the standard deduction is $12,200. Why would they choose to itemize a smaller amount $2500 instead??
https://www.irs.gov/newsroom/itemizing-vs-standard-deduction-six-tips-to-help-you-choose
Trump is not filling many government positions, deliberately to save money. Many agencies are cutting costs. FLOTUS has way less staff than before. Sure this is outside of legislation but the fact stands Trump is cutting spending.
Not propaganda but a clear reading of both the tax plans. Like anything else it depends on the details. With the loss of the state and local tax deduction and, in the Senate plan, the mortgage interest deduction then most taxpayers will not have enough deductions to itemize. The increase in the standard deduction is about $12000, but the elimination of the personal deduction offsets that. For a family of three the increase in the standard deduction is completely offset by the loss of personal exemption. For a family of four or more your taxable income goes up by $4050 per each additional person. I know a lot of people, married with families, who have incomes in the $80000 to $120000 range who are finding that their taxes will be going up. For single people like myself the news is even worse. Depending on what passes I expect my taxes to go up between $1000 and $3000.
That's not propaganda. That's fact.
“Trump is not filling many government positions, deliberately to save money. Many agencies are cutting costs.“
None of which is being done legislatively. That’s my point. I am NOT blaming the President. I’m blaming Ryan and McConnel. They screamed like babies when Trump proposes cutting the State Dept budget.
The entire Fedzilla needs a 20% haircut, Defense excluded.
L
What is government spending in 2016 compared to government spending in 2017?
This was done in the budget bill;
“The EPA’s FY 2018 Annual Performance Plan and Budget of $5.655 billion is $2.6 billion below the FY 2017 Annualized Continuing Resolution funding level for the EPA.”
https://www.epa.gov/sites/production/files/2017-05/documents/fy-2018-budget-in-brief.pdf
I don’t know, do you?
This outlines more cuts in the budget bill;
https://en.wikipedia.org/wiki/2018_United_States_federal_budget
The proposed 2018 budget includes $54 billion in cuts to federal departments, and a corresponding increase in defense and military spending.[8][9]
| Department | Budget | Amount change | Percent change | Notes |
|---|---|---|---|---|
| Department of Agriculture | $17.9 billion | $-4.7 billion | −21% | Includes the elimination of food for education and water and wastewater loan programs. Decreases funding for the United States Forest Service by $118 million.[10] |
| Department of Commerce | $7.8 billion | $−1.4 billion | −16% | Includes cuts to coastal research programs at the National Oceanic and Atmospheric Administration, and the elimination of the Economic Development Administration |
| Department of Defense | $574 billion | $52 billion | +9% | Includes an increase in the size of the Army and Marine Corps, as well as the Naval fleet |
| Department of Education | $68.2 billion | $−9.2 billion | −14% | Cuts programs and grants for teacher training, after-school and summer care, and aid to low-income students. Eliminates $1.2 from the 21st Century Community Learning Center program and cuts $732 million from the Federal Supplemental Educational Opportunity Grant. Eliminates Striving Readers/Comprehensive Literacy Development Grants as well as cuts funding for Supporting Effective Instruction State grants by $2.3 billion[11]. |
| Department of Energy | $28 billion | $−1.7 billion | −6% | Largest cuts go to the Office of Science; ARPA-E and Departmental Loan Programs eliminated. Increases spending on National Nuclear Security Administration by 11.4% while slashing high energy physics and almost all other science programs (Basic Energy Sciences, Biological and Environmental Research, Fusion Energy Sciences, High Energy Physics, Nuclear Physics, Infrastructure and Administration, Workforce Development for Teachers and Scientists) by 18%. The only science program not to receive a cut is the Advanced Scientific Computing Research program, which is to receive a small budget increase of $101 million. Money spent on the NNSA would go to the modernization and upkeep of nuclear weapons as well as $1.5 billion going to naval nuclear reactors. The budget cuts funding for energy programs by over 50% reducing the funding by $2.4 billion. Energy programs cut include: Energy Efficiency and Renewable Energy, Electricity Delivery and Energy Reliability, Nuclear Energy, Fossil Energy Research and Development.[12][13] |
| Department of Health and Human Services | $65.1 billion | $−15.1 billion | −18% | Cuts funding for the National Institutes of Health and training programs |
| Department of Homeland Security | $44.1 billion | $2.8 billion | +7% | Increases spending on border security and immigration enforcement and builds a wall on the US-Mexico border. Cuts funding for certain FEMA grant programs. |
| Department of Housing and Urban Development | $40.7 billion | $−6.2 billion | −13% | Eliminates grant programs for community development, investment partnerships, home-ownership, and Section 4 affordable housing |
| Department of the Interior | $11.7 billion | $−1.6 billion | −12% | Eliminates over 4000 jobs. Eliminates funding for 49 National Historic Sites and decreases funding for land acquisition. Decreases funding for Cooperative Endangered Species Conservation Fund. Cuts funding by $2 million for dealing with invasive species.[14][15] |
| Department of Justice | $27.7 billion | $−1.1 billion | −4% | Reduces spending on prison construction and reimbursements to state and local governments for incarceration of undocumented immigrants |
| Department of Labor | $9.6 billion | $−2.6 billion | −21% | Eliminates funding for senior-work programs, grants for non-profits and public agencies used for health training, and closes some Job Corps centers |
| State Department | $27.1 billion | $−10.9 billion | −29% | Eliminates funding for United Nations programs, including peacekeeping and climate change mitigation |
| Department of Transportation | $16.2 billion | $−2.4 billion | −13% | Eliminates funding for the Federal Transit Administration's New Starts grant program, long-distance Amtrak service, cuts the TIGER grant program and eliminates funding for the Essential Air Service. Air traffic control would be shifted to private service under the proposal. |
| Treasury Department | $11.2 billion | $−0.5 billion | −4% | Reduces funding for the Internal Revenue Service |
| Department of Veteran Affairs | $78.9 billion | $4.4 billion | +6% | Expands health services and the benefit claims system. Individual Unemployability (IU) for veterans eligible for Social Security retirement benefits would be terminated upon reaching the minimum retirement age for Social Security purposes, or upon enactment of the proposal if the Veteran is already in receipt of Social Security retirement benefits. These Veterans would continue to receive VA disability benefits based on their original disability rating, at the scheduler evaluation level. IU benefits would not be terminated for Veterans who are ineligible for Social Security retirement benefits, thus allowing them to continue to receive IU past minimum retirement age. Savings to the Compensation and Pensions account are estimated to be $3.2 billion in 2018, $17.9 billion over five years, and $40.8 billion over ten years.[16] |
| Environmental Protection Agency | $5.7 billion | $−2.5 billion | −31% | Eliminates more than 50 programs and 3,200 jobs |
| National Aeronautics and Space Administration (NASA) | $19.1 billion | $-0.1 billion | −1% | Cuts funding for Earth science programs and missions, and eliminates the Office of Education. Cuts funding for the Aeronautics Research Mission Directorate by $166 million (−21%). Cuts funding for Space Technology research by $148.4 million (−18%). Cuts funding for Human Exploration Operations by $4478.9 million (−53%). Cuts funding for the Education program by $62.7 million (−62.7%).[17][18] |
| Small Business Administration | $.8 billion | $−0.1 billion | −5% | Eliminates technical-assistance grant programs |
Nope. So one really can't say if spending has increased or been cut.
Proposed. How many of those cuts were in the budget Trump signed?
Yes, between my personal exemptions of 16 grand ( family of 4) and my itemized deductions of about 55 grand I currently reduce my taxable income by about 72 grand.
No one knows what will be in the final bill, but right now it’s looking like I will be paying taxes on an additional 50 grand, looking like at LEAST a $9,000 tax hike, and we don’t have state and local taxes in Florida.
Oh , and my 500 medical deductible is now $6,800.
Any families making in the $150-200 grand range are going to be hit hard, and the REAL reason is not to make up the 200 billion in lost tax revenue from the corporate tax rate.
The REAL REASON is to get rid of as many deductions as possible, then gradually jack up the rates on the SCHMENDRICKS who may be getting a small tax cut now, but will see that go away as soon as the Feds think they can get away with it.
That is the budget that passed and Trump signed.
50K? What is the itemized deduction? It’s being eliminated?
We are in the 150-200K range and we will pay less. I’ve never itemized in my life. Have business and farm deductions but always took the standard deduction on the 1040 form.
Mileage, medical, mortgage interest, state sales tax, interest on student loans, and a few others that are too complicated to list.
Not uncommon for working families with kids in college to rack up deductions in that range.
There’s an ulterior motive here, it’s to eliminate deductions and subject W-2 employees to maximum exposure.
Notice the 15% on investment income isn’t being touched.
This is more crooked than Obamacare.
Just cut the corporate rate to 20% and be done with it.
You said “and we don’t have state and local taxes in Florida” in the previous post.
We put two kids through college with zero student loan interest.
Have zero debt, never have paid enough interest to bother with itemizing it. Not even close.
Which of those deductions were eliminated?
I never knew you could deduct mileage on the 1040 form.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.