- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: No Democrats voted to give us a tax cut.
Posted on 11/17/17 at 11:32 am to Redleg Guy
Posted on 11/17/17 at 11:32 am to Redleg Guy
quote:
Much of the hit to poor and working-class Americans would stem from the changes to the health-care law, as many would no longer get subsidies to help them afford health insurance because they would give up on buying it altogether, according to the Joint Committee on Taxation.
So their synopsis is that it will increase people's tax burden because they lose subsidies for health insurance? What a crock of shite.
Coming from a self employed middle class person, exactly who they say it will "increase the tax burden" for, that's completely false. Middle class don't get a subsidy anyway, plus I'll be able to get a much MUCH cheaper health insurance plan based on my needs.
I would save a good bit with this tax plan.
This post was edited on 11/17/17 at 11:33 am
0
Posted on 11/17/17 at 11:32 am to doubleb
Why would they vote for a sham tax cut for the top earners.
The Senate's version would provide a 17.4% percent deduction for pass thru income. So if a top bracket tax payer arranges his finances to receive compensation through a pass thru entity, his tax rate falls from 39.6% to 22.2%.
That is a HUGE tax cut for the top earners. One of whom is Trump.
Trump reported a total salary of only $14,222 for running his reality TV show, “The Apprentice,” on his 2015 financial disclosure form. That’s less than a full-time salary for a worker earning the $7.25 federal minimum wage.
He took the rest as pass thru earnings. And now his tax rate from pass thru income will be 22.2%.
Trump was paid no salary by the more than 200 corporations that he owns and runs.
More pass thru income now Taxed at 22.2%.
And another thing. By getting income from a pass thru, high income taxpayers like Trump get around having to pay the 3.8% Medicare tax that should apply to high-income self-employed people. This negatively affects the medicare funding pool.
This tax cut is a fraud. Why would any dem vote for it?
The Senate's version would provide a 17.4% percent deduction for pass thru income. So if a top bracket tax payer arranges his finances to receive compensation through a pass thru entity, his tax rate falls from 39.6% to 22.2%.
That is a HUGE tax cut for the top earners. One of whom is Trump.
Trump reported a total salary of only $14,222 for running his reality TV show, “The Apprentice,” on his 2015 financial disclosure form. That’s less than a full-time salary for a worker earning the $7.25 federal minimum wage.
He took the rest as pass thru earnings. And now his tax rate from pass thru income will be 22.2%.
Trump was paid no salary by the more than 200 corporations that he owns and runs.
More pass thru income now Taxed at 22.2%.
And another thing. By getting income from a pass thru, high income taxpayers like Trump get around having to pay the 3.8% Medicare tax that should apply to high-income self-employed people. This negatively affects the medicare funding pool.
This tax cut is a fraud. Why would any dem vote for it?
Posted on 11/17/17 at 11:33 am to texridder
quote:
That is a HUGE tax cut for the top earners. One of whom is Trump.
It's a huge tax cut for me, and I'm not a top earner.
Why don't I deserve a tax cut?
Posted on 11/17/17 at 11:33 am to texridder
quote:
This tax cut is a fraud. Why would any dem vote for it?
ok there tex.
Posted on 11/17/17 at 11:35 am to CAD703X
Posted on 11/17/17 at 11:36 am to hawkeye007
Tax cuts to the uber rich with NO Inheritance taxes. Sounds like another scam and not to benefit the middle class.
Posted on 11/17/17 at 11:42 am to CAD703X
quote:
This tax cut is a fraud. Why would any dem vote for it?
ok there tex.
Very in depth refutation of my entire post.
Should I just delete all the facts that were in it?
Posted on 11/17/17 at 11:47 am to texridder
quote:
The Senate's version would provide a 17.4% percent deduction for pass thru income. So if a top bracket tax payer arranges his finances to receive compensation through a pass thru entity, his tax rate falls from 39.6% to 22.2%.
quote:
That is a HUGE tax cut for the top earners. One of whom is Trump.
So if your statement is correct, then Trump is paying the US Govt. 39.6 % of his profits right now!!!!! I thought the Dems were telling us last year that Trump paid no taxes?
Come on man, you have to try harder than that. You can't say one year Trump paid nothing and next year he's giving himself a major tax cut.
Get outta here!!!!!
Posted on 11/17/17 at 11:48 am to member12
quote:
It's a huge tax cut for me, and I'm not a top earner.
Why don't I deserve a tax cut?
Maybe you do and maybe you deserve a cut in line with what others get.
In the end, salaried workers who don't get paid through a pass thru, are getting a minuscule tax cut compared to those who can arrange to get paid by a pass thru.
And they don't even know it.
Posted on 11/17/17 at 11:48 am to CAD703X
quote:
This tax cut is a fraud. Why would any dem vote for it?
So they don't have a real reason to block tax reform that would provide tax relief for the middle class and increase the standard deduction while simplifying the tax code. Progressive posters have proven that they don't have a fricking clue what is actually in the bill that they hate so much.
Posted on 11/17/17 at 11:52 am to texridder
quote:
The Senate's version would provide a 17.4% percent deduction for pass thru income
So you are just completely ignoring the tighter restrictions on pass-through income in the house version???
Is that because you are a partisan hack or just not familiar with them?
Posted on 11/17/17 at 12:00 pm to BigJim
quote:
So you are just completely ignoring the tighter restrictions on pass-through income in the house version???
Is that because you are a partisan hack or just not familiar with them?
I know both proposals. The final numbers will be worked out in committee. You wanta bet whether it comes closer to the Senate plan?
The Senate plan is easier to sell because the theoretically the deduction is the same for everyone. Theoretically
Posted on 11/17/17 at 12:07 pm to doubleb
Can you explain what tax cuts we are getting?
Anyone that earns under 500k...
Asking for a friend
Anyone that earns under 500k...
Asking for a friend
Posted on 11/17/17 at 12:07 pm to member12
You read the bill and understand the bill.
It is not believing we deserve a tax cut, but believing politicians who have less than 20% approval rating. If we don’t think they are doing their job and most people believe politicians do the work of lobbyists why are we trusting them in something that is rushed through the house and senate?
Tax reform is not a partisan issue, but a ideological issue. The house and senate continue to put extra pork in the bill to get enough votes for it to pass.
This bill should take way more time to write and get correct than 6 weeks. This is a political bill not a true tax reform bill.
It is not believing we deserve a tax cut, but believing politicians who have less than 20% approval rating. If we don’t think they are doing their job and most people believe politicians do the work of lobbyists why are we trusting them in something that is rushed through the house and senate?
Tax reform is not a partisan issue, but a ideological issue. The house and senate continue to put extra pork in the bill to get enough votes for it to pass.
This bill should take way more time to write and get correct than 6 weeks. This is a political bill not a true tax reform bill.
Posted on 11/17/17 at 12:43 pm to doubleb
quote:
Come on man, you have to try harder than that. You can't say one year Trump paid nothing and next year he's giving himself a major tax cut.
So that's what you got out of my entire post? I was using Trump as an example because fit the bill.
How about the info I posted on the HUGE tax cut for pass thru income. That didn't even interest you, huh. Go back to sleep in your cocoon.
Posted on 11/17/17 at 12:54 pm to texridder
not a tax expert, but wouldn't these pass thru entities have to pay the self employment tax.
Posted on 11/17/17 at 1:04 pm to rintintin
quote:
Who is getting the tax increase?
If this plan had been in effect in 2016, a lot of people in SELA. Disaster losses will no longer be deductible. Think about that next time it rains.
Posted on 11/17/17 at 1:24 pm to texridder
Did you see his 2005 tax return that Madcow said they had the smoking gun? Line 7 - wages was 998,599. Additionally on Schedule C, which is subject to self employment tax, it shows an amount of $ 42,395,804. Also, I have a flow thru entity that has real estate income which in general is passive income and not subject to SE tax......
Posted on 11/17/17 at 1:27 pm to Jim Rockford
quote:
Disaster losses will no longer be deductible. Think about that next time it rains.
Isn't that what insurance is for?
Posted on 11/17/17 at 1:45 pm to TigerDoug
You don't understand, last year Trump was guilty of paying no income taxes, this year he is guilty of giving himself a large tax cut.
If you thought Trump was playing 4D chess before, you really have to admire the man now. He is giving himself a large tax cut even though he is paying none.
If you thought Trump was playing 4D chess before, you really have to admire the man now. He is giving himself a large tax cut even though he is paying none.
Page 3 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News