Tax Reform Armageddon: WE RACE WAR NOW - Don't be a stupid nigger and debate the bill NO ONE CARES (crossthread posts welcome!)

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But but I am glad that SJW's are screeching bloody fucking murder ;c
 
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And this is just months after they were worshipping him for rejecting the health care bill! How shallow.
 
Nuthatch powiedział(a):
The Senate Bill actually took out the "taxing student tuition waivers" provision, but it's still in the House Bill. So, we will see after reconciliation if it stays or not.
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If it stays in, a lot of these Millennials who are trying to do the right thing and get one of these magical STEM jobs are going to get royally fucked. It may no longer going to be a career option for a lot of middle-class people.
 
Skeealator powiedział(a):
If it stays in, a lot of these Millennials who are trying to do the right thing and get one of these magical STEM jobs are going to get royally fucked. It may no longer going to be a career option for a lot of middle-class people.
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well then i guess they should have inherited a big fortune from daddy so they can go to college with all the other rich elites

like what's wrong with these lazy fucks? just inherit money. it's easy as fuck.
 
Skeealator powiedział(a):
If it stays in, a lot of these Millennials who are trying to do the right thing and get one of these magical STEM jobs are going to get royally fucked. It may no longer going to be a career option for a lot of middle-class people.
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And people wonder why the US is falling behind the rest of the 1st world countries in terms of everything except maybe racism and pollution.
 
Optimus Prime powiedział(a):
And people wonder why the US is falling behind the rest of the 1st world countries in terms of everything except maybe racism and pollution.
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THAT... IS the only real reason to be mad at ANY of this - unfortunately, college costs too much as it is, no matter what the level. THAT is a genuine issue in need of fixing. Something that won't happen fast enough, either - especially thanks to these dumb kids NOT taking action accordingly on said real issue that burdens the middle and lower classes, almost equally as bad as the healthcare issue said areas (which I am apart of, so I feel their pain just a little, but honestly, making a big deal over it isn't gonna solve a thing - FACT.) are feeling the pain in.

Yeah - these kids can get mad all they want... They're getting mad at the wrong things AND for the wrong reasons! This is why they, the lower and middle classes, keep getting screwed so easily, when it comes to dealing with the bigger picture.
 
Null powiedział(a):
Your interpretation of the bill is almost definitely going to fall in line with wherever you get your news. All I know is that hundreds of thousands of people are now complaining on Twitter about a tax law they didn't read, only got the footnotes from their favorite mouthpieces, and are probably not even paying taxes to begin with.

One such contested change, for instance, is that apparently small businesses will be hurt by removal of itemized deductions, though pro-bill people will claim small businesses don't typically use itemized deductions.

The wonderful Washington Post writes:
"Say goodbye to most deductions. Almost all itemized deductions are going away, except for three. The final House bill keeps the deductions for charitable donations, property taxes up to $10,000 a year and the mortgage interest deduction. The mortgage interest deduction would be capped at $500,000 for mortgages (down from $1 million now)."


Oh no! Poor small businesses. In a digital world where Amazon is already biting at the chops of the brick and mortar shops, how will Mom & Pop sell their quilts now?


Inc.com has a different take.
https://www.inc.com/erik-sherman/stop-panicking-tax-bills-dont-eliminate-your-business-expenses.html

"The problem is that some people in the media, and apparently some business owners, don't realize that there are two ways in which business expenses can be deducted. One is as an expense of a legitimate business. Even a sole-proprietorship can deduct legal fees, a home office, and so on by using the right forms.

"However, there has been another way to deduct business expenses. If you're an employee and incur unreimbursed expenses on the part of your employer, you've been able potentially to deduct them."


So there's a lot of conflicting information and none of the people fucking voting for this shit actually read it. They're just doing what their owners want. The same goes with the dipshits at the WaPo. The only reason why this is breaking news is that it's Trump's thing.
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These days I trust the Democratic party as far as I can throw them so I take what they say with a grain of cynical salt. I'm hoping that reducing the taxes on the bigger businesses will bring at least a few of them back.
 
Doug_Hitzel powiedział(a):
How are homeowners losing with this bill?
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It definitely hurts some. From what I can tell:

Current tax law starts to phase out the mortgage interest deduction for taxpayers whose mortgage balance is > $1,000,000. The Senate bill apparently reduces this phase out to begin at $500,000

The state and local income tax deduction is going to go away. 42 of the 50 states have a state income tax, and a bunch have local income taxes. This is deducted on Schedule A, the same place mortgage interest is deducted.

The property tax deduction is going to be capped at $10,000, or so I saw claimed on Twitter. Also deducted on Schedule A. In most places property taxes come nowhere near $10,00o for personal residences.

The people who are going to get fucked hardest, assuming I've got my facts straight, are those (a) live in places with expensive real estate and (b) live in places that are high tax jurisdictions. Just so happens those are also typically Democrat strongholds: CA, NY, MA, HI all fall into that category. And two big Republican strongholds? TX and FL, neither of which have a state income tax, though I'm not sure about their property taxes.
 
introman powiedział(a):
Investopedia does a good job on breaking down the GOP tax plan.
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so your tax credit for having kids goes up and you can't deduct 1 mil of interest from mortgages

i mean cbo says"1.4 trillion debt increase" but thats over ten years. as many have said, obama raised our debt by 6.5tr in 8 years and the us didnt fall into chaos.

idk it seems alright. there are parts i dont like but how can you be honestly motivated enough to burn things
 
Elwood P. Dowd powiedział(a):
It definitely hurts some. From what I can tell:

Current tax law starts to phase out the mortgage interest deduction for taxpayers whose mortgage balance is > $1,000,000. The Senate bill apparently reduces this phase out to begin at $500,000

The state and local income tax deduction is going to go away. 42 of the 50 states have a state income tax, and a bunch have local income taxes. This is deducted on Schedule A, the same place mortgage interest is deducted.

The property tax deduction is going to be capped at $10,000, or so I saw claimed on Twitter. Also deducted on Schedule A. In most places property taxes come nowhere near $10,00o for personal residences.

The people who are going to get fucked hardest, assuming I've got my facts straight, are those (a) live in places with expensive real estate and (b) live in places that are high tax jurisdictions. Just so happens those are also typically Democrat strongholds: CA, NY, MA, HI all fall into that category. And two big Republican strongholds? TX and FL, neither of which have a state income tax, though I'm not sure about their property taxes.
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Yeah, nothing of this applies to me, so I’m good.
 
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