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re: Here's one way to look at the tax breaks in the Big Beautiful Bill I guess
Posted on 7/5/25 at 7:28 pm to tigerbacon
Posted on 7/5/25 at 7:28 pm to tigerbacon
quote:
Sad thing is trumps comments y3sterday guarantees no interest rate Curt’s anytime soon
I don't think we need them just yet. I think we start getting them in the fall.
0
Posted on 7/6/25 at 10:56 am to GEAUXT
quote:your fair share is way more than that
I paid just over $300k in state and federal income tax last year.
Posted on 7/7/25 at 5:57 am to evil cockroach
quote:Mine was ... way more. So I get the sarcasm.
I paid just over $300k in state and federal income tax last year.
----
your fair share is way more than that
When you write a check that size to the government, it's bad enough.
But doing so while others claim you're not paying your "fair share," is like nails scratching down a chalkboard, to be kind.
Posted on 7/7/25 at 5:14 pm to tigerbacon
quote:
This country is in so much debt anything that increases should be an automatic no.
Until Congress shows even a smidge of getting serious about cutting their spending then frick them if they want more of my money. I’m phased out of damn near everything and paying for me and my family…..all while saving for retirement too.
Posted on 7/7/25 at 5:53 pm to deltaland
Well said!
Posted on 7/7/25 at 6:01 pm to SquatchDawg
That’s the point, they did this knowing it’s worst for country
Posted on 7/7/25 at 11:09 pm to tigerbacon
quote:well do your part. No one is stopping you
I would be ok paying thousands more if the country could get out of debt since long term it’s better.
Idiot
This post was edited on 7/7/25 at 11:11 pm
Posted on 7/8/25 at 12:00 am to tigerbacon
quote:
I would be ok paying thousands more if the country could get out of debt since long term it’s better. I have zero issues with the program cuts. So let’s cut the programs the way it did but let’s not have the tax cuts.
Some people are really naive. You think the government is going to pay down debt if taxes remain where they are? They have not paid down debt since the war on terror was started in 2001 (UBL did a number on this country whose havoc continues from the grave).
Taxes have been raised, lowered, raised and lowered again. One constant has remained, unmitigated spending, regardless of which party was in control of congress or in the White House.
Posted on 7/8/25 at 7:05 am to tigerbacon
quote:You're getting some harsh responses, not because your sentiment is wrong, but rather because it's incredibly naive delusion.
I would be ok paying thousands more if the country could get out of debt
You say you "would be ok paying thousands more."
Kudos to you for that.
But in terms of tax needs to address the debt, "thousands" is not the ask.
Not even close! The ask is not even for 10's of thousands. The actual ask is for 100's of thousands, or millions!
---
Let's break it down in terms of the Top 10% of earners. The Top 10% comprise ~15 million households which shoulder 75% of the US tax burden. So of our $37T in debt, the Top 10% share is ~$28T, or about $1.85 MILLION per household.
For those of us ignoble 1%'ers (perhaps, given your willing generosity to offer "thousands," you fall into that category as well?), 1.5 million households shoulder 40% of the tax burden. The accordant 1% household tax share of the debt falls in the $9.9 MILLION range.
I say that while at the same time acknowledging I hear daily that 40% is not a fair share for the 1%. It should be more.
So excuse some of us for what may seem a less generous attitude than your own. Out of similar generosity, some folks give away keys to their bank account in response to heart-tugging emails from deposed Nigerian Princes.
This post was edited on 7/8/25 at 7:11 am
Posted on 7/8/25 at 8:15 am to NC_Tigah
quote:
Mine was ... way more. So I get the sarcasm.
Do you feel rich never, sometimes, or all the time?
This post was edited on 7/8/25 at 8:16 am
Posted on 7/8/25 at 8:19 am to saintforlife1
quote:
It’s for people whose fridges look like a cabinet. I only recently learned this type of wealth exists.
Is it retroactive? Just completed our kitchen renovation last month.
Posted on 7/8/25 at 8:37 am to PetroBabich
quote:Nah. I rarely think of things in those terms at all. There are folks with far more wealth. There are folks with far less wealth. That kind of puts me in the middle. I do feel at ease though, comfortable in my own skin as it were.
Do you feel rich never, sometimes, or all the time?
Posted on 7/8/25 at 8:47 am to NC_Tigah
I agree it’s naive but this country is in trouble. I’m getting bashed because it’s an unselfish assessment and most people don’t care about others.
Your comment was spot on about the 1% needing to pay more but because of bills like this they have loopholes. I’m guilty of it also, I find any loophole I can in the tax code. But I also do a lot of charity work and donations. I haven’t even touch on how horrible this bill is for the bottom 5% of the country. Yes there’s people who take advantage of programs. But to me the 5% who take advantage of the programs don’t outweigh the 95% in these programs trying to better themselves
One other thing with this bill is the shortage on doctors and dentist it will create. They can only take out 250k in student loan debt. For example LSU medical and dental school tuition is over 100k a year. Most finance the whole thing and can pay it off when done over time. Now they won’t even be given the chance. I completely agree undergrad should be cap at 50k. My issue is strictly with medical and dental school with the loan limits
Your comment was spot on about the 1% needing to pay more but because of bills like this they have loopholes. I’m guilty of it also, I find any loophole I can in the tax code. But I also do a lot of charity work and donations. I haven’t even touch on how horrible this bill is for the bottom 5% of the country. Yes there’s people who take advantage of programs. But to me the 5% who take advantage of the programs don’t outweigh the 95% in these programs trying to better themselves
One other thing with this bill is the shortage on doctors and dentist it will create. They can only take out 250k in student loan debt. For example LSU medical and dental school tuition is over 100k a year. Most finance the whole thing and can pay it off when done over time. Now they won’t even be given the chance. I completely agree undergrad should be cap at 50k. My issue is strictly with medical and dental school with the loan limits
Posted on 7/8/25 at 9:38 am to tigerbacon
quote:In that case, it seems you really aren't familiar with the subject. E.g., Bearing that out, LSU Med School tuition is nowhere remotely close to $100K/yr.
I haven’t even touch on how horrible this bill is for the bottom 5% of the country
This post was edited on 7/8/25 at 9:42 am
Posted on 7/8/25 at 1:41 pm to tigerbacon
You are getting bashed by folks that do not understand economics.
Posted on 7/8/25 at 3:14 pm to KWL85
quote:Stated by someone who doesn't understand the difference between taxes and revenues.
You are getting bashed by folks that do not understand economics.
Posted on 7/8/25 at 4:52 pm to GEAUXT
quote:how they expect you to feed your family having to write the irs checks like that?
I paid just over $300k in state and federal income tax last year.
You need to find a more slick cpa baw
Posted on 7/8/25 at 5:43 pm to GEAUXT
quote:
I paid just over $300k in state and federal income tax last year.
You need to fire your accountant stat
Posted on 7/8/25 at 5:44 pm to NC_Tigah
quote:
You are getting bashed by folks that do not understand economics.
Stated by someone who doesn't understand the difference between taxes and revenues
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