Posted on 12/02/2017 1:37:52 AM PST by Kaslin
I’m sorry I should have been more precise. It is property tax not sales tax that is deductible to 10K under both house & senate plans.
You Washington Post headline is a complete load of BS.
Trump does NOT say that he will consider raising the corporate tax, nor that he favors raising it.
“It could be 22 when it all comes out, but it could also be 20. We’ll see what ultimately comes out.” Moving the corporate tax rate up by 2 percentage points could raise $200 billion, money Trump might need to try to satisfy the concerns of Republicans frustrated that the plan does not reduce top individuals’ tax rates enough or of others such as Sen. Marco Rubio (Fla.), who argued that the bill should do more for low-income families.
For folks around here who look for 3-Chess moves in Trump's tweets like they are archaeologists, but can't believe what Trump actually told reporters, your comment is hilarious.
“It could be 22 when it all comes out, but it could also be 20. We’ll see what ultimately comes out.”
What is hilarious is your inability to comprehend the written word.
Try again.
There is no advocacy of increasing the corporate tax here. He is simply stating the reality that the Bill goes to conference now and it could be used as a negotiating tool.
This is possible but not likely as both House and Senate have the tax at 20%.
What is clear for those who can read and understand English is that Trump does not state what the WashCompost headline states.
Again...try again Sky.
Basically most call themselves Christians because Grandmother and Grandfather or their parents were Christians, thus, of course, THEY MUST BE Christians!!! WRONG!!! You can call yourself a sink, but that does not mean you drain water. That would make you a bladder!!! Those here that are blasting people, who claim to be Christians, probably aren't Christian. THAT is why I don't simply identify myself as a Christian any longer. That title has been too watered down. I like to better describe myself as a BELIEVER. A BELIEVER IN CHRIST JESUA, and NO OTHER!!! Simply, I am a Believer. That way, I KNOW and all know that I believe IN HIM. I don't describe myself as something someone can claim simply because Mama and Daddy were. Well, gotta go, the Church bells are ringing up at my Church, time to leave!!! Peace be with you.
Love your charts. Stealing them
“But he is being disingenuous. He thinks it will pump up the stock market (at least in the short term). He is most likely very correct on that. At least for awhile.”
I don’t think anything of the kind. First of all no one yet knows what the final bill will really look like and therefore any prognostication about it’s effects are still largely unknown. It would be nonsense if it were not helpful to the vast majority of taxpayers, but at this juncture, more importantly, not getting it past, would probably spell the end of the GOP majorities, and thereby doom President Trump’s agenda and probably his presidency as the RATs would use up the rest of his first term with impeachment.
As for me benefitting personally from any pumping up of the stock market, that isn’t the case. I sold out of the market in 2007 and don’t own one share of stock personally. I do have a 401k that was decimated by the “crash in 2007, that I have been drawing on in retirement since about 2007 when I retired. Before the crash, there was enough money in it to carry us both to the end of the road. Now it will be gone in the next couple of years.
https://taxfoundation.org/details-analysis-2017-senate-tax-cuts-and-jobs-act/
On a static basis, the plan would lead to 1.2 percent higher after-tax income on average for all taxpayers and 4.5 percent higher after-tax income on average for the top 1 percent in 2027. When accounting for the increased GDP, after-tax incomes of all taxpayers would increase by 4.4 percent in the long run.
According to the Tax Foundation’s Taxes and Growth Model, the plan would significantly lower marginal tax rates and the cost of capital, which would lead to a 3.7 percent increase in GDP over the long term, 2.9 percent higher wages, and an additional 925,000 full-time equivalent jobs.
You admitted in open thread that your unusual personal circumstances (you didn't call them that) would lead you to pay more taxes under a bill that had not yet been passed, and in subsequent pings have saddled on any status quo argument you can find. Criticizing that is legitimate, but I hadn't done that.
But I know what you mean -- I've been criticized for very specific and detailed tax cut ideas I've spitballed around here over theyears, told that I wanted to be subsidized for "poor life choices".
Seriously?
I commented that it was ‘interesting that your anti-Trump tax bill posts are being posted on DU’.
As in, don’t offer that DUmp any fodder.
Yet, you claim I ‘or one of my nasty clones’ may have posted it there.
You immediately resorted to name calling and accusations....personal attacks.
Take care, SkyPilot.
Those companies did nothing illegal or immoral. In a global economy, and yes, it is a global economy, whether you like it or not, competition is fierce.
It would be nice if they did not need to do that, but the US has the highest tax on business of any industrialized nation on earth. If you owned a company and reported to shareholders, you too, probably would have done the same thing.
cheap goods have raised our standard of living dramatically. And yes, that is a good thing for everyone. Tariffs used selectively can be helpful, but as a regular policy concept, I don't think it works too well. Ask anyone who grew up in the 30s.
Here is how it is going to work. The repatriated money will be brought back and companies will use some of the money to build things, such as new headquarters, new factories and new equipment. The people hired to build those things will be the beneficiaries of the repatriated money and those hired to work in the new factories will benefit, too. Those are good things. A good chunk will go to the government so they can waste even more money, but to force companies to use that money a certain way distorts the economy and is corrupt - a very corrupt way of using the money, in fact. Who decides who gets the money and how much. How will the federal government enforce that provision of the law? What a nightmare. I doubt it could pass legal hurdles. It would be a complete and horrible mess.
I only had you on my tax ping. If you were caught in the scuffle my sincere apologies. None of that was aimed at you.
Wow I did not know that the Texas, Louisiana, Mississippi and Alabama Gulf coast region that have refineries and chemical plants were in Mexico.
I guess I better not leave out all the power plants that I think are still in the US. I damn sure hope we are not buying ALL our electricity from Mexico.
Wait, what about all the drilling rigs that get built in Texas and Louisiana?
There must be a map out there that has all of the Gulf Coast now belonging to Mehico that I have not seen. Maybe ObucketOshit gave us away when we were not looking.
I never accused you of being a DU troll. I simply lamented that your posts were being picked up, over there.
(Again...let’s not offer them fodder.) Here’s what I posted to you...
Interesting that your anti-Trump tax bill posts are being posted on DU.
You then replied with this...
....For all I know, it was you and your uncivil and nasty clones who posted it there. I don’t even go to that sewer - but apparently some of you do......
Calling me uncivil, nasty and accusing me of posting it there...was uncalled for.
I have NO IDEA who posted it there. Again, I just don’t like giving those lunkheads fodder, from here.
I don’t want, nor do I expect an apology from you.
We have ended our conversations.
Take care.
You posted this to me.
"Interesting that your anti-Trump tax bill posts are being posted on DU. What a badge of “honor”. Not."
Maybe it's just me - but I think 99.9999% of people would not take that as an compliment, but as a sarcastic smear.
I don’t want, nor do I expect an apology from you. We have ended our conversations.
As you wish.
Thanks SP.
I am not impressed with this GOP tax bill either as a retired person who already got screwed on a once promising pension. Where is the Postcard tax form? Nowhere and never going to happen either, the swamp wins again. Where is the middle class tax cut and the 3 tax brackets 10...20...25%?
I see more deductions that the rest us will have to cover with our high taxation. The GOP suck!
I want Trump to say, where are my tax campaign promises?
It looks like more money sucked from middle class for washington class and cheap labor express, tax bill.
Thankfully my shrunk pension will keep me from paying to much more. Maybe sell property now before real estate prices tank.
He likes capitalism but he doesn’t like Corporatism with big corporations, big banks and big business colluding.
They work together to shut the little business people out.
I think see that influence on this tax legislation.
...............
Nailed it!
The middle class is getting the largest tax cuts.
Tax Foundation :
” “Our results indicate a reduction in tax liability for every scenario we modeled, with some of the largest cuts accruing to moderate-income families with children.” ...
...” The majority are automatic winners, as they’re among the vast majority of all filers who take the (roughly doubled) standard deduction...
***...!!! Every household profiled in the analysis gets a tax cut and an increase in after-tax earnings. !!!...
The smallest percentage cut and income boost goes to the richest couple. Another busted narrative.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.