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re: No Democrats voted to give us a tax cut.
Posted on 11/17/17 at 5:09 pm to doubleb
Posted on 11/17/17 at 5:09 pm to doubleb
quote:
The average American would have more disposable income.
But how much more? $10 more a month? $50? I really don't know. What I do know is that the majority of the benefits of these cuts will go to the richest Americans and corporations, which seems counter-intuitive to Republican's claims that they are the party of the middle class.
3
Posted on 11/17/17 at 5:09 pm to doubleb
Companies or corporations?
Posted on 11/17/17 at 5:10 pm to alabamabuckeye
Which provisions, specifically, donyou think goes only to the wealthy? Do you think only wealthy people are shareholders of corporations?
Posted on 11/17/17 at 5:10 pm to Dignan
quote:
Not if premiums on health care are raised. Essentially, you're saving in one area, but you'll be charged more in another.
FWIW, I'm not blaming this on Republicans- health care premiums were going up, regardless. I thought the one thing I could count on from Trump is my taxes being lowered, but when I looked closer, I'll either lose a little bit or it will be a wash.
Exactly. I'm a healthy 28yo single male currently paying $250 per month on health insurance, and it's increasing to $320 per month next year. Sure I may save a little on taxes, but I'm getting rawdogged by my health insurance premiums.
Posted on 11/17/17 at 5:10 pm to texridder
quote:
Profits are allocated to owners who report their share of net income on Schedule E of their individual tax returns.
And often times the small business can't afford to make a distribution so the S-Corp members pay income taxes even though they haven't received a dime.
Posted on 11/17/17 at 5:14 pm to BBONDS25
Well off the top of my head, requiring grad students to declare tuition as taxable income is one, and then the fact that the individual tax cuts are only temporary while corporate tax cuts will be permanent is another.
Posted on 11/17/17 at 5:18 pm to alabamabuckeye
Grad students have to declare monies they pay in tuition as income? You are confused. There is no way that is true. They may not be allowing education deductions for tuition for grad school, but that is VERY different from what you wrote.
Taxes sunsetting is nothing new. Corporations are made up of shareholders. Do you realize how many middle class families are shareholders own corporations? Every single person that has a 401(k)
Your opposition is based upon your unfortunate belief that wealthy shouldn't get any benefit from a tax cut. They pay the most...they will benefit from a cut.
You are cutting off your nose to spite your face.
Taxes sunsetting is nothing new. Corporations are made up of shareholders. Do you realize how many middle class families are shareholders own corporations? Every single person that has a 401(k)
Your opposition is based upon your unfortunate belief that wealthy shouldn't get any benefit from a tax cut. They pay the most...they will benefit from a cut.
You are cutting off your nose to spite your face.
This post was edited on 11/17/17 at 6:43 pm
Posted on 11/17/17 at 5:20 pm to doubleb
quote:
How simple does it get.
Exactly. Two party system is merely and illusion.
We're like China were they have one party but different factions.
Posted on 11/17/17 at 5:30 pm to alabamabuckeye
quote:
But how much more? $10 more a month? $50? I really don't know. What I do know is that the majority of the benefits of these cuts will go to the richest Americans and corporations, which seems counter-intuitive to Republican's claims that they are the party of the middle class.
Depends, but for starters extra $600 per child tax saving is sweet. You guys are just spouting Dem t asking points all for political reasons. Don’t know about you but I would rather pay less tax.
Posted on 11/17/17 at 5:31 pm to Pussykat
Partners in partnerships don't necessarily pay self employment tax. An example would be a partnership that holds rental properties. That income generally is considered passive income and is not subject to self employment tax.
Posted on 11/17/17 at 5:32 pm to doubleb
dems vote no on tax reform because there are enough Rs to pass it, if it fails its the Rs fault. no Rs voted for obamacare because it was going to pass regardless. theyre all fake and none of them care about you.
Posted on 11/17/17 at 5:34 pm to TigerDoug
Correct But only if they aren’t real estate professionals
This post was edited on 11/17/17 at 5:35 pm
Posted on 11/17/17 at 5:42 pm to Pussykat
True. That is why I said generally. I own a tax consulting business but also have a partnership that holds all of my rental properties. I would have meet certain requirements on this - I believe over one half of my personal total services involved in real property and materially participation and perform more than 750 hours in real property services. For most individuals they don't qualify.
Posted on 11/17/17 at 5:52 pm to TigerDoug
What do you think of the tax bill.
Posted on 11/17/17 at 5:59 pm to texridder
quote:Can you delineate the individual's tax liability in a "pass thru"?
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.
Specifically delineate the difference between that individual's tax liability vs liability of a salaried employee making the same income.
Posted on 11/17/17 at 6:00 pm to Pussykat
haven't had time to fully analyze.. Been busy with my two jobs... About to break free from them and do some light reading later tonight... that will put me to sleep...
Posted on 11/17/17 at 6:06 pm to thetigerman
quote:
So some can get a break for their personal aircraft. frick that.
You know a democrat put that personal aircraft tax break in the bill right?
Sherrod Brown of Ohio.
And he's still going to vote against the bill.
This post was edited on 11/17/17 at 6:07 pm
Posted on 11/17/17 at 9:16 pm to RogerTheShrubber
quote:
You're a hack if you think corporatism is single party.
Both parties are heavily invested in corporations. They just choose different winners and losers
It's far bigger than a single party issue. Corporations quite literally rule this country. USA is closer to a plutocracy than any other system.
Posted on 11/17/17 at 9:21 pm to alabamabuckeye
quote:
What I do know is that the majority of the benefits of these cuts will go to the richest Americans and corporations, which seems counter-intuitive to Republican's claims that they are the party of the middle class.
Wrong. The plan is WORST for people who who expensive homes in rich states. Aka the rich.
Posted on 11/17/17 at 9:29 pm to rintintin
quote:
Who is getting the tax increase?
1) Property owners
2) Blue State residents who can't deduct State and local taxes on the long form
The tax bill stinks and needs to die an ignominious death
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