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Senate passes tax reform bill

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posted on Dec, 3 2017 @ 06:17 AM
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a reply to: UKTruth

I won’t get a tax cut and they took my deductions. We are already at full employment. People not working are retiring, the boomers. This tax shift is to starve the states and defund all social programs that help working people and destroy education. Traitors.




posted on Dec, 3 2017 @ 06:23 AM
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originally posted by: sunkuong
a reply to: face23785

I can read the script as well as you can. I cannot understand the real world implications...in laymans terms.

Can anyone break it down for me? Seems a bit perfunctory.

I don't understand it, so....hopefully those passing it do...?


Under the Senate bill here are some examples:

A family of 4 (2 kids under 17) and are low-income earning $25000 and pay ZERO federal tax today you'll actually still be better off by $100.

A family of 4 (2 kids under 17) and are mid-income earning $75000 and pay $3,983 federal tax today you'll actually get a >50% reduction and now pay $1,739

A family of 4 (2 kids under 17) and are high-income earning $175000 and pay $24,414 federal tax today you'll actually get a c15% reduction and now pay $21,319


The rich are getting much lower percentage reductions, with the big reductions going to the middle class, corporations and small business.

Now the liberal spin comes from the fact that the smaller percentage reductions for higher earners are a higher dollar amount than the much larger percentage reductions for the middle class, which is obvious and trying to change that would mean zero tax cuts for the higher earners and the creation of a system whereby a small percentage of the US paid >95% of the federal taxes whilst the vast majority in America paid little to nothing... a system that would destroy the country once and for all.

edit on 3/12/2017 by UKTruth because: (no reason given)



posted on Dec, 3 2017 @ 06:30 AM
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originally posted by: MOMof3
a reply to: UKTruth

I won’t get a tax cut and they took my deductions. We are already at full employment. People not working are retiring, the boomers. This tax shift is to starve the states and defund all social programs that help working people and destroy education. Traitors.


The majority of middle-class Americans will get a tax cut (with deductions factored in) - and it's a huge tax cut. Quite how that destroys the middle class is baffling.

If you are in the minority of people who won't, bad luck - but your situation does not mean the middle class are being destroyed.

edit on 3/12/2017 by UKTruth because: (no reason given)



posted on Dec, 3 2017 @ 06:43 AM
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a reply to: [post=22920363]UKTruth

To pay for the debt they expire for individuals after 10 years, starting after the first yr. The Corp get to keep theirs. Then they will go after the programs that help middle class when old or sick. And education for the kids. The destruction of the middle class began with Reagan. Russian traitor trump and republican congress are completing the plan.



posted on Dec, 3 2017 @ 06:57 AM
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originally posted by: MOMof3
a reply to: [post=22920363]UKTruth

To pay for the debt they expire for individuals after 10 years, starting after the first yr. The Corp get to keep theirs. Then they will go after the programs that help middle class when old or sick. And education for the kids. The destruction of the middle class began with Reagan. Russian traitor trump and republican congress are completing the plan.


Whatever - no point talking about it to anti-Trumpers. A huge tax cut for the middle class and you are so invested in your hatred you are going to propagate the spin story fed to you no matter what. I'll let you deal with your own emotions whilst most of the middle class enjoy tax cuts.



posted on Dec, 3 2017 @ 07:05 AM
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a reply to: UKTruth

What do you care? Do you pay taxes here?



posted on Dec, 3 2017 @ 08:31 AM
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a reply to: MOMof3


We are already at full employment.

Thank you for the insult.

It's nice to know I don't count in your eyes.

TheRedneck



posted on Dec, 3 2017 @ 09:16 AM
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originally posted by: TheRedneck
I see where you're getting the numbers. 25% for rent, 5% utilities, 10% food, 10% discretionary, and the rest (50%) for savings. What, did you read that in a book? Here's how most people have to do it:


Do you have a problem with books?

My current budget looks a little different, that's just what it looks like once I finish school. 50% savings is high, but that's because I have to make up for lost time. I'm 35 with $0 in retirement. So I need a house, I need that house paid off ASAP, and I need to make up for being poor my entire life up to this point. Basically, that means putting 25% away for retirement now, and the other 25% towards a house. 25% towards a house gets me $75,000 over 5 years (starter homes in the area will run about $85,000). The rent budget is double what rent/mortgage would cost, so that gets me 2 payments per month for another $30,000 over 5 years. So that would get me a fairly modest house, then I could shift the mortgage payments over to more savings. That gets me a 10 year plan of $250,000 in the bank excluding interest, capital gains, and raises at work. That doesn't fully catch me up, but it gets me closer. Sticking to that plan until I'm 55 would put me just about back on track.

I'm well aware of what the typical budget looks like, people will spend 50% on rent and maybe 5% on savings. Been there, done that. I haven't been employed long, just over half a year ago I was still living on nothing other than my $750/month SSDI payment. Rent+utilities where I'm at is $450, food would run me about $100, I could afford one tank of gas per month for my car, and put nothing into savings.

What I should have done, was accept my situation. Instead of renting a large apartment in a bad neighborhood I should have rented a room in someones house. There's one I considered actually, 8x8 room for $250/month, but I was too mentally weak to do it and opted for the space instead. So I certainly understand not adhering to a good budget, but doing so will put one in a much better financial situation.


Those books are written for people who have plenty of money.


No they aren't. Just about anyone can follow a proper budget. The only hard item is rent but that's usually doable if you downgrade your housing standard.


Plus you forgot a few items... household, repairs, auto maintenance, replacement cost on appliances, holidays, gasoline to name a few. Because these expenses are going to come, and usually they come at the exact wrong moment.


I was filing all that under either discretionary or savings depending on the item because I was summarizing the budget.
edit on 3-12-2017 by Aazadan because: (no reason given)



posted on Dec, 3 2017 @ 09:19 AM
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a reply to: TheRedneck

Four percent qualifes as full employment statistically. Sorry if you are part of the unemployed. Are you 50 or older?



posted on Dec, 3 2017 @ 09:22 AM
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originally posted by: queenofswords
If I were you, I'd be embarrassed. You made a lifestyle out of gov't handouts, and b*tch now about taxes and .... oh yeah...this jewel of a comment:


That's what government is there for. To help people. I've gotten a lot of help, I don't deny it. Isn't that precisely what the point of these programs is for though? To help people become productive rather than just sit around all day?



You lived off the rest of us while you spent 15 years preparing your "position". And you have the audacity to lecture the poster that made personal adjustments to keep from sucking off taxpayers like a leech.


Something you learn quick when you're on assistance is that there's no room for pride. It only makes your life harder. I said that poster clearly made some mistakes in their life because they were working 3 jobs, and away from their family. Why do that to yourself? What did it gain them besides suffering?



Society doesn't owe you anything. As a matter of fact, you have had more than your share.


I don't know about that. The government will end up making a 100x return from their investment in me. Maybe even more than that. Does that mean they owe me more? Not really. But it means I'm not a drain too.



posted on Dec, 3 2017 @ 09:24 AM
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a reply to: nwtrucker

Reduced taxes only lead to higher wages if the people are getting the money. In this case they aren't. It's going directly into shareholder pockets rather than the employees. That might help retirement accounts, but it doesn't boost retail spending.



posted on Dec, 3 2017 @ 09:29 AM
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originally posted by: queenofswords
a reply to: Aazadan


Sure, small businesses love it. Small businesses have only 1-2 employees though, and those employees aren't the ones who will be seeing the gains. What you mean to say is small business owners love that they're getting huge raises.


That shows you just how uninformed you really are.

In the U.S. a small business is generally one that has fewer than five hundred employees for manufacturing businesses and less than $7.5 million in annual receipts for most non manufacturing businesses. There are some variations depending on the type of business, but this is a basic description.

So, it is not just the mom and pop shop with 1 or 2 employees. Sheesh! You would think with 5 degrees you would have been educated by now. Maybe one more degree, and you'll get there!


Yes, I'm aware of the tax code definition for small business. Such businesses aren't actually small though. Our definition of small business is BS, and is largely in place to function as a tax loophole.



posted on Dec, 3 2017 @ 09:31 AM
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originally posted by: UKTruth

originally posted by: MOMof3
a reply to: sunkuong

Pretty simple. Destroy the middle clsss. Back to the feudal system. With the help of Russia and China sympathizers.


Ho would giving the middle class a tax cut and more jobs destroy them?


The plan is inflationary, you'll lose much more than any cut gives you.



posted on Dec, 3 2017 @ 09:31 AM
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a reply to: MOMof3


Four percent qualifes as full employment statistically. Sorry if you are part of the unemployed.

So, I'm an acceptable casualty now, too? Really? I thought the Republicans were the evil ones... but it sounds to me like YOU don't give a rat's patootie about anyone else!

Spare me...you just outed yourself. Here we were trying to show you how you could be much better off under the new plan, and all the while you cared only about yourself and your little agenda of hatred. May every dime of aid you ever hoped to get be whisked away in this plan!

And the deal passed... all that is left is paperwork now. You get to sit and watch while others actually get something that benefits them. There's nothing you can do to stop it! Just sit and cry and scream helplessly as you watch others have a life too... it's probably going to be torture for you.

And this time I don't care.


Are you 50 or older?

Hoping I'll hurry up and die?

TheRedneck



posted on Dec, 3 2017 @ 09:31 AM
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originally posted by: Aazadan
a reply to: nwtrucker

Reduced taxes only lead to higher wages if the people are getting the money. In this case they aren't. It's going directly into shareholder pockets rather than the employees. That might help retirement accounts, but it doesn't boost retail spending.


Reduced taxes. You seem to leave out the reduction of income tax rates for individuals as well as the corporate tax cuts.

The cuts in income tax rates leave more money for discretionary spending by the individual. That's where the immediate increase in jobs will come from. Increased spending for consumer items.



posted on Dec, 3 2017 @ 09:33 AM
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a reply to: UKTruth

You do realize the individual tax cuts are temporary right? They expire after just a couple years for everyone other than the wealthy. It's only the top end cuts and the corporate cuts which are permanent.



posted on Dec, 3 2017 @ 09:37 AM
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a reply to: nwtrucker

The individual cuts expire after a couple years... no permanent jobs are being created there.



posted on Dec, 3 2017 @ 09:39 AM
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a reply to: TheRedneck

I don’t pass laws or make policy. How about that trillion dollar infrastructure bill trump promised if you are interested in a job?



posted on Dec, 3 2017 @ 09:41 AM
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originally posted by: TheRedneck
So, I'm an acceptable casualty now, too? Really? I thought the Republicans were the evil ones... but it sounds to me like YOU don't give a rat's patootie about anyone else!


Just a few posts ago, you said my mom is an acceptable casualty because we can't afford health care for disabled people anymore.



posted on Dec, 3 2017 @ 09:43 AM
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a reply to: Aazadan


That's what government is there for. To help people.

Sorry for my cynicism today, but after the insult by Momof3, I'm sorry if I'm not feeling generous.

Don't you mean there to help YOU? After all, that's all I have heard from you up until now... ME ME ME. I'M not going to be able to go on to grad school (a lie). I'M going to have to pay for my own insurance. I'M going to lose my insurance (another lie).

How about for one brief moment in your life, you look around and see what others are having to go through. How about you care what others are having to go through? There's a lot more people on this hunk of rock than just you.

Government isn't there to be your private little bank. It's there for all the people, and it's not a bank. Oh, and you can spare me the part about how government doesn't care about others... that's not the pot calling the kettle black, it's the pot calling an ivory tower black!

Time to buck up and grow up. The free ride is going bye-bye. Good riddance, and good luck living like I have to.

TheRedneck



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