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To: Mariner

Agreed. I’m a sole proprietor and itemize in our filings. I know this will increase my taxes but by how much I have no idea yet.

The relief that workers like me have is that I can defer a lot of gross income through various retirement accounts. I can contribute to an individual 401K as well as a SEP IRA. That helps and I take full advantage of this because I have to pay both ends of the Social Security and Medicare taxes as well as having to fund my own health insurance fully.

What I’d be curious to see is if this final plan will include raising the ceiling for contributions to retirement accounts, even for W-2 wage earners. That would make sense to me - defer the taxes and encourage people to save more for their retirement.


50 posted on 09/28/2017 10:26:25 AM PDT by NohSpinZone (First thing we do, let's kill all the lawyers)
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To: NohSpinZone; All

“Agreed. I’m a sole proprietor and itemize in our filings. I know this will increase my taxes but by how much I have no idea yet.”

Yet we have all these dumb bastard commies on FR doing the bidding of the GOPe by supporting this plan because “it sticks it to NY and CA”.

That’s the fraud and these people are dumb enough to fall for it.

I assure you and all others that meme originated in the offices of the GOPe when they released this plan. They believe the hatred the base has for these states will carry this legislation over the finish line.

And these dumb bastards will help them do it, even if it increases their own taxes along with 40- million others.


54 posted on 09/28/2017 10:35:54 AM PDT by Mariner (Pink Pussy Hats for the NFL)
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