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re: GOP tax document reveals plan for massive tax cuts, preserves key deductions
Posted on 9/27/17 at 10:53 am to 90proofprofessional
Posted on 9/27/17 at 10:53 am to 90proofprofessional
Yeah. Another example of too much House Republican influence. Carried interest is ordinary income, not a gain. It's ordinary income based on a gain, so I understand how this managed to get done, but it is distasteful that House Repubs, who are essentailly establishment liberals, watered this entire bill down.
This said, Trump will compromise on this. But I will be paying particular close attention to see if he maes an attempt to restore some of what was in the original, extremely detailed version. Not that large parts of this would ever be pubic, but we'll see I guess.
The brackets previously released are also somewhat concerneing.
But it is nice that as much detail has been released on this. Proably more so than any other recent tax legislation in my memory at least.
Somewhat confused about people talking about the brackets. They've already been relased. Frankly the brackets are meaningless. How you get to the brackets (adjusted gross, MAGI and taxable) are sigificantly more important for people that actaully pay attention to what is critical.
This said, Trump will compromise on this. But I will be paying particular close attention to see if he maes an attempt to restore some of what was in the original, extremely detailed version. Not that large parts of this would ever be pubic, but we'll see I guess.
The brackets previously released are also somewhat concerneing.
But it is nice that as much detail has been released on this. Proably more so than any other recent tax legislation in my memory at least.
Somewhat confused about people talking about the brackets. They've already been relased. Frankly the brackets are meaningless. How you get to the brackets (adjusted gross, MAGI and taxable) are sigificantly more important for people that actaully pay attention to what is critical.
Posted on 9/27/17 at 10:56 am to Iowa Golfer
quote:
Somewhat confused about people talking about the brackets. They've already been relased. Frankly the brackets are meaningless. How you get to the brackets (adjusted gross, MAGI and taxable) are sigificantly more important for people that actaully pay attention to what is critical.
Sure. I've said before that pretending the # of brackets we have is the actual source of our code's complexity is absurd spin. But clearly it's a focal point for a shitload of people. It ought to be a sideshow
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