Posted on 11/04/2017 6:33:58 PM PDT by Jim Robinson
The House 'Tax Cuts and Jobs Act' has been released. Here are the core elements of the plan.*
(Excerpt) Read more at marketwatch.com ...
The million dollar bracket is there. Do you have a link to the table you’re referring to?
No the credit is pro rated downward basd on income. Screwed again batman.
And this chart's breakdown is misleading re the top figures; as in XXX-XXXYX.
It's on DRUDGE.
This chart isn’r accurate.
Depending on income you may not get the entire credit.
No, I pay the IRS lots of money. About 60% if you count fed, state, as, Medicare, and property taxes. I own a business so I pay 15% just on ss/Medicare. Plus I’m over 65 and now have to pay about $590 each month for Medicare because the rate is adjusted up for those with income.
Im paying over 60% to taxes!
The only F’in calculator we need is same one we use ti do a tip at dinner.
Flat tax no deductions and government loses power by losing ability to sell tax breaks and loopholes and favors!
This is fine and dandy but leave sthe zombie called IRS alive on the table when it should be embalmed then dropped in an undisclosed location in an undisclosed ocean.
I can't see this POS passing both Houses as it stands today, with what we know about what's in it and the more we learn about what's hidden, the worse it gets.
“I tried it and I don’t like it. It’s going to cost me a LOT more (and I don’t have a high income).”
Being retired, we have a pretty low income and yet my taxes went up by 15% under this plan!
Looks like it hits poor people pretty hard!
So are you still itemizing or using the new std deduction? 12/24 single/married?
So MarketWatch is trying to sell the tax plan by publishing a fake chart?
WHat’s not accurate?
And those posters, here, who are crowing about "soaking the rich, meaning everyone who makes a $10 more than they do and/or lives in a state that has a high state, and/or city tax, and those living in high property tax places ) are NOT conservatives of ANY kind; they are stinking MARXISTS!
I don’t know. I chose the married filing status since they didn’t have mine - head of household. Previous years, the two filing statuses had similar taxes.
But $3000 less for me seems too much.
Look...the figures aren't accurate and there are now ( until we find out even MORE about what's in this ObamaCaresque proposition ) FIVE brackets, not 4 that are posted, let alone the 3 that were promised.
Also, this doesn't make doing one's taxes "easier" for many people...it makes itg more difficult AND most will need someone to do their taxes for them!
“So are you still itemizing or using the new std deduction? 12/24 single/married?”
married. and i had been itemizing mainly because of high medical bills and health insurance costs, but those don’t appear to be deductible in the “calculator” as being deductible in the future, so i had to use standard.
” I am going to have to pay another 1,200 on my 87,000 annual salary”
I find that hard to believe.
“It’s a damned MESS, as it stands now and the only entities who make out like bandits, are the corporations “
BS. You’re a Trump hating liberal.
“Being retired, we have a pretty low income and yet my taxes went up by 15% under this plan!”
That’s impossible.
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