U.S. Politics

[Fenwyr]

On a different note, Trump is going to give a big tax break to the nation's richest. freak the rest of us as well as the national debt.

Also, the FCC is going to gut Net Neutrality. This nonsense that it will create competition would be laughable if it weren't so awful. All it's going to do is cost jobs when smaller startups can't get an even footing on the carrier pipes while the biggest content producers pay more (and pass the costs to the consumer) to push their traffic.

Oh, and for good measure, Trump is trying to get national monument designations removed from things like sequoia trees.

Has anyone heard the results of the briefing the White House gave Senators yesterday regarding North Korea?

freak everything about this administration.

You don't like that he wants to remove all deductions other than charity and, gasp, motgage interest?  A real estate mogul wants to cut corporate interest rates to 15% and keep the deduction for mortgage interest.

We are literally being punked at this point.

[Tommy]

You don't like that he wants to remove all deductions other than charity and, gasp, motgage interest?  A real estate mogul wants to cut corporate interest rates to 15% and keep the deduction for mortgage interest.

We are literally being punked at this point.

Speaking as someone who itemizes the excrement out of his taxes and uses every loophole imaginable to get back as much as possible, I like the flat tax and no deduction idea if it means less money being taken out of my paycheck each pay period. Have you ever seen how much money the IRS pays back in refunds? It's staggering. Keep the tax code simple. This will also mean an end to H&R block.

And how is being able to deduct child credits and mortgage interest a bad thing? Just because it may benefit Trump's family it doesn't mean millions won't benefit as well. I don't understand the outrage when a President proposes something that he, as an American, may also benefit from. Also, I don't see how this tax plan helps the rich since they're the ones who itemize more than anyone.

[sg3]

Yeah but she's an uninteresting horrible human being so I would not pay anything to hear her talk. I would pay money to avoid going to one of her speeches

You just described the Orange Jacka$$ to a tee

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[sg3]

A few years ago, at our annual Global Conference attended by a few thousand staff, partners and major customers, the speaker that we had hired to talk about future markets spent at least half of his hour long spot eulogising the Koch Brothers and everything that they have achieved. There were some pretty uncomfortable people in that room.

Eulogizing would have been sensational in that it would have meant those disgusting Nazi pigs were dead

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[Johnny English]

Eulogizing would have been sensational in that it would have meant those disgusting Nazi pigs were dead

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Eulogy is not exclusive to death.

[Fenwyr]

Speaking as someone who itemizes the excrement out of his taxes and uses every loophole imaginable to get back as much as possible, I like the flat tax and no deduction idea if it means less money being taken out of my paycheck each pay period. Have you ever seen how much money the IRS pays back in refunds? It's staggering. Keep the tax code simple. This will also mean an end to H&R block.

And how is being able to deduct child credits and mortgage interest a bad thing? Just because it may benefit Trump's family it doesn't mean millions won't benefit as well. I don't understand the outrage when a President proposes something that he, as an American, may also benefit from. Also, I don't see how this tax plan helps the rich since they're the ones who itemize more than anyone.

You do understand he is derriere-raping normal people in blue states with high state taxes, right?

You do understand that he would have paid exactly $0 in 2005 if this plan would have been in place, right?

Your loopholes will be gone as an average single guy that is renting.  Would you like some lube?

[sg3]

Eulogy is not exclusive to death.

You are correct but the current usage is just about exclusively about praising and memorializing the departed at least here in the lower 48

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[AlioTheFool]

The only tax bracket that will have its percentage reduced is the top one. From 39.6% to 35%.

But how does his tax plan disproportionately help the rich?

[Tommy]

You do understand he is derriere-raping normal people in blue states with high state taxes, right?

You do understand that he would have paid exactly $0 in 2005 if this plan would have been in place, right?

Your loopholes will be gone as an average single guy that is renting.  Would you like some lube?

I'm trying to find the actual plan outlined, not just some blogger or writer's interpretation of it. Do you have a link? Having trouble finding it.

[Fenwyr]

The only tax bracket that will have its percentage reduced is the top one. From 39.6% to 35%.

But how does his tax plan disproportionately help the rich?

People in that tax bracket were never paying 39.6, unless they were functionally retarded.

The new tax plan will ask the middle class to pay ALL of the taxes.  The 35% bracket will pay 0%, at the very least due to the LLC clause, which brings them down to 15%, buy a property or two, 0%.

As always, the devil is in the details.

[Tommy]

The only tax bracket that will have its percentage reduced is the top one. From 39.6% to 35%.

But how does his tax plan disproportionately help the rich?

From what I've read, it's going to be 10% 25% and 35%. The first $24k will be tax-free. Currently people pay 10% up to $10k then 15% up to $37k.

I don't know what the income level for each tax bracket will be yet. Does anyone have that info?

Would be good to have the details before we all rush to judgement.

[Tommy]

People in that tax bracket were never paying 39.6, unless they were functionally retarded.

The new tax plan will ask the middle class to pay ALL of the taxes.  The 35% bracket will pay 0%, at the very least due to the LLC clause, which brings them down to 15%, buy a property or two, 0%.

As always, the devil is in the details.

Where are you getting these details? That's what I asked for. All of a sudden everyone is an accountant.

[AlioTheFool]

I'm trying to find the actual plan outlined, not just some blogger or writer's interpretation of it. Do you have a link? Having trouble finding it.

Here's what's available: http://www.marketwatch.com/story/full-text-of-trump-administration-tax-reform-principles-2017-04-26

So I'll slightly walk back what I said about the only bracket being changed is the top one. Still, it overwhelmingly helps the top more than anyone else.

Tax relief for American families, especially middle-income families:
Reducing the 7 tax brackets to 3 tax brackets of 10%, 25% and 35%
Doubling the standard deduction
Providing tax relief for families with child and dependent care expenses

Simplification:
Eliminate targeted tax breaks that mainly benefit the wealthiest taxpayers
Protect the home ownership and charitable gift tax deductions
Repeal the Alternative Minimum Tax
Repeal the death tax
Repeal the 3.8% Obamacare tax that hits small businesses and investment income

Business Reform
15% business tax rate
Territorial tax system to level the playing field for American companies
One-time tax on trillions of dollars held overseas
Eliminate tax breaks for special interests

[Fenwyr]

I'm trying to find the actual plan outlined, not just some blogger or writer's interpretation of it. Do you have a link? Having trouble finding it.

Just google it.  I watched financial wonks from across the political spectrum.  Even the trickle down believers think its derriere rape for the middle class.

[Fenwyr]

From what I've read, it's going to be 10% 25% and 35%. The first $24k will be tax-free. Currently people pay 10% up to $10k then 15% up to $37k.

I don't know what the income level for each tax bracket will be yet. Does anyone have that info?

Would be good to have the details before we all rush to judgement.

Yes.  Poverty level folks get a break in taxes, which is actually a good thing.  My fear is that the republicans will gut welfare to pay for it eventually.

The vast majority of us will be in the 25% bracket.  If you don't own a home, that's pretty much it.  I don't really have a problem with that.  If going LLC for my wife wasn't ludicrously expensive, I could get her to 15%.

For the rich, they wipe their asses with the LLC expenses.  Any of them with a decent accountant will go from 35 to 15% and write that off in mortgage interest.