Posted on 09/28/2015 3:51:07 PM PDT by RKBA Democrat
I've been reading the articles and analysis on Donald Trump's tax plan. I've read several articles, and everyone has an opinion as to whether it helps the poor, hurts the poor, if it taxes people enough, whether it's conservative enough....blah, blah, blah.
I couldn't care less what the theoretical impact is on some hypothetical person that exists in someone's imagination. What I care about are MY taxes. I have yet to see any posts or articles where someone takes out their tax return and figures it out. So I did that. I took out a piece of scrap paper and figured it out. It took all of 5 minutes, including the time to find the calculator.
The result: using conservative assumptions my Federal income taxes will go down by 42%.
I LIKE Donald Trump's tax plan! I like it a lot!
Lower!
If the national minimum wage goes to $15/hr. full time workers will pay at least some taxes.
When I was a teen, it was $2 and that seemed like pure riches to me. I bussed dishes and was paid in cash.
Have you ever been to Mexico?
Wanting a day off for an important event is “entitlement-minded,” but stealing into a country where you have no right to be and taking a job you have no right to take is acceptable in your world?
Win. Win. Win.
Both personally and the company I work for which is owned by my two sons.
Sorry, friend jimmyray — meant to ping you to post 62. It’s kind close to my heart. I like a lot of Mexicans.
Neither. I would have to see the tax plan after it is passed, when all the chopping, negotiating, and back tracking are done.
Win. As retirees, we make less than $50 K annually. We should enjoy not paying taxes after doing so for 60 years.
I would be inclined to grant that the Prom night was important and try to accommodate it, but ... what about the right of the employer to pay what is equitable to his employees?
Will Social Security benefits be taxed? i.e., will they be figured into Adjusted Gross Income? Currently some may or not be taxed.
Thanks, Bernie!
I’d take a conservative position: nothing changes. Keep it simple and just use your current AGI on your last tax return.
There are a lot of things wrong in this country, and people expecting 15 bucks an hour to flip burgers is one of them. If there must be a minimum wage at all (I question the need for it), it should certainly be much lower than $15, or even $10. But no matter what, letting people steal into our country is not a solution for any problem. I know kids who are perfectly willing to work, and do work, like dogs, but have trouble finding and keeping jobs because there are always illegals hanging around willing to do the job for a couple bucks less an hour...Because by and large they don’t pay taxes, car insurance or large medical bills.
You can call it a flat tax, a vertical tax, or a sine-wave tax. It doesn’t really matter. What matters is whether YOU win or lose under the plan.
It’ll take five minutes to figure out on the back of an envelope. 5 minutes and third grade math.
We can help. You might want to check out the meducal sharing ministries. Obamacare tax exempt.
I would assume that most deductions go away except those specifically called out as staying e.g. mortgage interest and charitable deductions. Which are useless to you anyway unless you itemize.
You may be correct.
In long run we’re all going to die, too.
Win lower tax rate.
It is not that easy. Are the brackets calculated after deductions, or on gross income?
A so-called fair tax isn’t coming now or anytime soon.
So do you win or lose under the Trump plan?
I think EVERYONE needs to have skin in the game, I think even lower income people NEED to pay something even if it is 1% EVERYONE in the country needs to contribute something, they vote also and they need to also contribute to the tax system!!!!!!
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