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Message
re: Rand doesn't like the tax plan
Posted on 10/2/17 at 4:02 pm to Iosh
Posted on 10/2/17 at 4:02 pm to Iosh
Rand is becoming quite the cuck. I've done the math, and if you make in 180-190k a year range you do see a small increase. Make 160-170 it's about the same. Make anywhere under that and it's a tax cut. This is for single individuals.
The vast majority get a tax cut. No plan is perfect, but it's an improvement. Rand needs to stop bugging up the process on pure idealogy, because voting no still puts him with McCain and Dems
The vast majority get a tax cut. No plan is perfect, but it's an improvement. Rand needs to stop bugging up the process on pure idealogy, because voting no still puts him with McCain and Dems
0
Posted on 10/2/17 at 4:03 pm to gamatt53
quote:You don't know how the bracketing will effect your rate. Translation, you don't know what the comparative effect will be.
The proposed increased standard deduction is less that what I currenly itemize for which will cause me to have a higher tax burden
Posted on 10/2/17 at 4:03 pm to NC_Tigah
You're going to get downvoted for posting truth.
Posted on 10/2/17 at 4:05 pm to gamatt53
quote:
Anyone who currently itemizes for more than 12k (single) or 24k (married) is probably going to pay more.
Which is a whole hell of a lot of people with medical deductions.
Another little tidbit is that there's no deduction for gambling losses, and no deduction for hobby income. So if you play poker or bet on the horses, or if you do a little farming on the side, you're SOL.
Posted on 10/2/17 at 4:07 pm to SirWinston
quote:
My taxes would go up SEVEN percent from what I've seen. That's like $12,000 fricking dollars - enough to make me not #MAGA if it happens. I'm trying not to overreact yet
Based on the level of intelligence contained in most of your posts, there is no way in hell you pay over 100K in taxes per year.
Posted on 10/2/17 at 4:09 pm to Iowa Golfer
quote:
Now go find me someplace where all of the itemized deductions disappear.
It was right in the proposal. You should read it. Page 5
Unified Tax Reform Framework
This post was edited on 10/2/17 at 4:10 pm
Posted on 10/2/17 at 4:20 pm to gamatt53
I've read it. Wake me up when it actually happens. I'll bet you we're not getting any serious reform, we might get a tax cut. A watered down, House establishment version.
This should please the OP and others who purport to be conservative, but who always settle for watered down establishment crap.
It wouldn't be as frustrating as it is except they've lied to us for decades, and when they finally have a Reagan Republican, who they call liberal, they revert to the mean.
This should please the OP and others who purport to be conservative, but who always settle for watered down establishment crap.
It wouldn't be as frustrating as it is except they've lied to us for decades, and when they finally have a Reagan Republican, who they call liberal, they revert to the mean.
Posted on 10/2/17 at 4:23 pm to HeyHeyHogsAllTheWay
quote:
Here's a harsh reality, if you make so much money that your taxes would go up $12K under this plan (and clearly there are folks like this) then tough shite, you can afford to pay more.
That's a very conservative viewpoint.
Posted on 10/2/17 at 4:24 pm to Iowa Golfer
quote:
I've read it. Wake me up when it actually happens. I'll bet you we're not getting any serious reform, we might get a tax cut. A watered down, House establishment version.
We were having a discussion on the plan itself and the potential tax impact for those who itemize....and you shift to this? That you don't think it will actually happen? Well alrighty then me too
Posted on 10/2/17 at 4:34 pm to gamatt53
Why wouldn't I "resort" to this, when all the "framework" spells out is the following:
"In order to simplify the tax code, the framework eliminates most itemized deductions, but retains tax incentives for home mortgage interest and charitable contributions. These tax benefits help accomplish important goals that strengthen civil society, as opposed to dependence on government: homeownership and charitable giving"
Again, wake me up when they eliminate itemizations. For God's sake man, if (a big if) your taxes go up $12K, buy an investment property in a pass through entity. Or any number of other work arounds. If you're really serious about $12K, then you're smart enough to figure this out.
"In order to simplify the tax code, the framework eliminates most itemized deductions, but retains tax incentives for home mortgage interest and charitable contributions. These tax benefits help accomplish important goals that strengthen civil society, as opposed to dependence on government: homeownership and charitable giving"
Again, wake me up when they eliminate itemizations. For God's sake man, if (a big if) your taxes go up $12K, buy an investment property in a pass through entity. Or any number of other work arounds. If you're really serious about $12K, then you're smart enough to figure this out.
Posted on 10/2/17 at 4:34 pm to NC_Tigah
They're assuming this based on the tax plan that the House previously published. So it's not a ridiculous assumption.
Posted on 10/2/17 at 4:38 pm to Iosh
Cohn said yesterday <= 20% corp tax rate and tax cuts for middle class were non-negotiables. I need to finish reading the proposal in its entirety and would recommend everyone else do the same.
Posted on 10/2/17 at 4:41 pm to RedStickBR
What proposal would this be? Trump's very specific proposal from some time ago is gone. All we have is a "framework", and some creative logic from the TPC that marries a prior House proposal to the present "framework."
Posted on 10/2/17 at 4:54 pm to geauxtigs999
quote:
They're assuming
quote:But it is ridiculous to assume.
So it's not a ridiculous assumption.
Posted on 10/2/17 at 4:57 pm to Iowa Golfer
The framework is what I'm referring to. That's what everyone else is referring to as well. Cohn made it clear lawmakers would have plenty of discretion but for the two red lines previously mentioned.
Posted on 10/2/17 at 5:53 pm to Iosh
Rand Paul grandstanding again?
Imagine my shock!
Imagine my shock!
Posted on 10/2/17 at 6:32 pm to Sentrius
It's unfortunate. There is a lot to like about Rand, but then this, yet again, based on nothing. And Rand wanna be Libertarians eating it up.
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