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re: Do you know anyone stupid enough to think this tax plan is bad?
Posted on 12/20/17 at 10:45 am to BigJim
Posted on 12/20/17 at 10:45 am to BigJim
quote:I explicitly mentioned myself and the only time I haven’t paid federal taxes was on deplyment. I’m not an OT/poliboard baller, but I pay about $16,000 a year. And a good quarter of my income (housing) is already tax exempt. This won’t help young single lawyers and other salaried professionals in the $100-$200k range. And we pay taxes.
Kinda hard to give a tax break to those don't pay taxes...or actually get a subsidy through the EITC. So you aren't wrong, just think this framing of the issue is very disingenuous.
6
Posted on 12/20/17 at 11:01 am to Navytiger74
quote:
I explicitly mentioned myself and the only time I haven’t paid federal taxes was on deplyment. I’m not an OT/poliboard baller, but I pay about $16,000 a year. And a good quarter of my income (housing) is already tax exempt. This won’t help young single lawyers and other salaried professionals in the $100-$200k range. And we pay taxes.
I think I saw about 1/3 of $100-$200k group will either not get a cut or get an increase especially if you live in a high tax state.
That really isn't very many people. Maybe 20% of the population? And only 2/3rds of that are better off?
At the end of the day, most of those people will react like you "oh well, I don't get much but still think it is good for the economy" and others will have little sympathy for the $100-200k crowd.
Posted on 12/20/17 at 11:04 am to Navytiger74
quote:
And we pay taxes.
baw how can you pay taxes when you are paid by taxes
Posted on 12/20/17 at 11:34 am to Navytiger74
quote:
This won’t help young single lawyers and other salaried professionals in the $100-$200k range. And we pay taxes.
Single lawyer in Virginia making $150k/year will still see a federal tax break even if you itemize and have deductions of $10,000 + SALT. You've got to find a very specific situation to say this won't help salaried professionals in the $100-$200k range.
This post was edited on 12/20/17 at 11:35 am
Posted on 12/20/17 at 12:03 pm to Navytiger74
I'm single and salaried in the 100-200k range. It saves me 2.6k.
It's worth noting my deductions weren't enough to warrant more than the standard deduction, so I get full benefit from the deduction doubling.
It's worth noting my deductions weren't enough to warrant more than the standard deduction, so I get full benefit from the deduction doubling.
Posted on 12/20/17 at 12:09 pm to Navytiger74
quote:Maybe if you're single yet inexplicably have a McMansion but for the most part we'll come out fine. I'm not a fan of this tax plan for several reasons but it will undeniably benefit me.
This won’t help young single lawyers and other salaried professionals in the $100-$200k range. And we pay taxes.
Posted on 12/20/17 at 12:12 pm to Navytiger74
quote:
This won’t help young single lawyers and other salaried professionals in the $100-$200k range.
Then how do you explain the fact that I fit that description exactly and will benefit?
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