Posted on 10/21/2017 1:59:09 PM PDT by SkyPilot
President Trump campaigned on helping the little guy. His latest tax proposal, he says, is about helping the middle guy.
“It’s a middle-class bill,” Trump promised an audience of truckers last week.
Other administration officials and House Speaker Paul D. Ryan (R-Wis.) have also claimed that their primary objective in reconfiguring the tax code is to help the middle class, not the wealthy.
(Excerpt) Read more at washingtonpost.com ...
“Of course the average commie Social Justice Warrior is cool with that. They are all up for “taxing the rich”.
I had no idea they supported Trump’s tax plan. This thing will pass BIGLY !
Why would prices drop? What is the incentive to do so?
I bet you believe in Planks #1, #3 and #10 too.
In high-tax states like NJ, tripling the standard deduction probably will not offset the lost credits for property taxes and mortgage interest (if those are both targeted).
These deductions are among the few real incentives to buy a home; home ownership is already shaky, and it appears we are heading towards a massive change in how people make living arrangements. We are already seeing in young people a trend where large numbers will never buy a home or car, or invest in children; the consequences of these trends are already seen in the Third Worldization of areas with the highest costs of living. The ultra-rich in NYC and LA are increasingly surrounded by areas devoid of American taxpayers, where imported hordes speak a babble of tongues.
All the proposals I’ve seen doubles the standard deduction and lowers the tax rate and narrows the brackets to three.
AND increases the net tax paid by anyone who makes between $80k and $160k per year.
And jams their 401k too.
your nuts and Sooooo wrong but blinded by your own wants / greed and you have made it personal over one simple aspect. Something neither you or your little ping nutty Buddy never even asked - do I agree with the tax plan - No. but not for the reason in this post. There is so much to hate about it. But SALT ain’t one of them.
Because some competitor will. It’s why we love capitalism.
If you ran the numbers with the current rates and tax brackets it won’t work as they plan on changing them to lower rates and fewer brackets. They also plan on doubling the standard deduction to 12K for S and 24K for M, and keeping the mortgage and charitable contributions deductions.
You sure have got your panties in a wad over this, maybe you should calm down until the final product is put out for review.
I haven’t seen anything about capping 401K from a reliable source. But definitely wouldn’t like that. Maxing out my 401K, and I was fortunate to have an additional 457 plan for highly compensated management, was what really saved me from paying high taxes when I was working.
Let New York taxpayers (for example) pay the entire tab for the services from which they benefit.
You speak as if I wrote something factually incorrect.
State what was incorrect.
Ee don’t know the brackets yet
You aren’t being screwed.
I call it “California Screamin’.”
If it spurs business growth it will help the middle class immensley
LOL
I guess it was inevitable.
Problem is; in decades past windfalls from corporate tax breaks were passed on to the stockholders and were also used for investments, in China and Mexico...And although Trump wouldn't be too keen on that idea I don't believe there are any mechanisms in place to prevent it from happening again...
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