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 ...
It’s a tax cut for corporations. Tax cut for those who don’t pay. Tax hike for those that do.
If I wanted to get the Dems eleccted in 2018, I would propose this bill
7.62.
Methinks someone needs to re-look at themselves.
The Washington Post?
“Is that so hard to understand? “
Yes, it is. Because few in the middle class itemize their deductions anyways. And those that do may do so for reasons other than state taxes.
And because a growing economy helps EVERYONE. Business is good for America. If more businesses want to hire, wages go up. Beats sending jobs overseas, all to protect a tax deduction for YOU.
Face it, dude. America is bigger than you. And if you live in a high tax state...move! Or vote for smaller government in your own state. But stop telling the rest of America that our jobs should be sent overseas so you can shave off some $$ on your tax return!
+1
I’ll bet Cathy’s definition of the “middle class” is those who don’t pay INCOME taxes and receive an EITC “refund”. Lighten up Cathy. It’s sick to make those who make America go have to pay for the freebies for non-taxpayers too. Just sick.
Corporations do not pay taxes they pass the cost on to the customer.
Rich people do not pay taxes or they pay as little as they possibly can.
A flat tax is the only fair and reasonable solution to this tax issue.
That has nothing to do with the argument to eliminate the state and local tax deduction, unless you are arguing that taxes overall and the transfer of wealth is evil. I agree. But entitlements are NOT EVEN DISCUSSED by the GOP in this tax bill.
So, what shall we talk about?
Blues States use property taxes (85% fund local schools that other kids outside the “district” can’t attend) to buy tax-deductible Public “all-but-Private” Schools.
Blue staters are happy with Fed Deductible local taxes to pay for their local schools. Not uncommon for local tax bills upwards of $15K-20K.
3-4 kids in a very good, local, public, fed-tax deductible school where you control the board is a great deal. Private school quality with tax deductability.
Lots of modest homes have tax bills in the $5-10K range.
Doubling that standard deduction makes up for lots of that. Add in some very strong economic growth and it’s a wash.
Except for Big Blue, Big Tax, folks who can otherwise offset the hit.
Seems like a option the country will go for in a big way.
yep and I don’t like financing their interest on those expensive homes they can’t afford either.
You are arguing nonsense. Corporations DO PAY taxes. If they didn't, they would not be arguing for tax relief. They would not have paid Millions to K Street Lobbyists in Washington DC to have their taxes reduced. I do not disagree that corporations do not pass on tax burdens to consumers, but the STILL pay taxes.
Now, what other arguments do you have.
Using the itemized deductions in lieu of taking a standard deduction is a fool’s errand for most folks. For several years, the diminishing weight of allowable deductions has been almost always exceeded by the “standard” deduction, which just in itself, made the filing of the return somewhat simpler.
Sure made it easy for TurboTax. And they collect a fee anyway.
Wrong!
44 Million Americans claim this deduction. You are parroting the talking points of Paul Ryan! What are you?! A mindless robot?
I know there will be just 3 brackets but no one has said where the breaks will be. That is going to make a big difference for the middle class.
Doubling the standard deduction helps me a whole lot.
I am not buying what you are selling.
” Wrong! 44 Million Americans claim this deduction.”
44 million out of how many? That would be roughly 240 million.
Want to try the math, or is that too hard for you? “What are you?! A mindless [communist] robot?”
I don’t think the government should know what charities you donate to, what interest you pay, how many electric cars you drive, if you can wright off your 7000 pound SUV and such. That’s what itemized deductions are. You should pay a tax according to your income, not what decisions you make according to the approved list to make your tax burden lower. That’s just me. You seem quite invested in your deductions and likely pay no tax because of it.
So millions of middle class Americans paying more in Federal taxes is a “good” thing for you, so that corporations get a huge tax cut? Just say it. Say it.
“So millions of middle class Americans paying more in Federal taxes is a “good” thing for you, so that corporations get a huge tax cut?”
1 - With an increase in the standard deduction, no one knows how many of those who itemize might not need to itemize next year.
2 - Since no one knows where the tax brackets will fall, no one knows how anyone’s taxes will change.
But 3 - If significantly increasing business activity and jobs and employment and pay raises means some people in liberal, high tax states pay more in income taxes...yeah, it sure as hell works for me!
Jobs good! Business growth good! Liberals living in high tax states suckers! Move sucker. Or pay. It is a free country! I love tasting liberal tears.
Even if that makes it through the Conference Committee, it won't make up for the rape of the elimination of the state and local deduction.
Get ready for a HUGE TAX INCREASE! Because K Street protects their own.
I didn't sign up for this with my support of President Trump.
>
This will be a HUGE mistake. But I feel that Trump wants a "victory" so bad that he is willing to screw millions of us to get it.
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