Tax Bill

[Brute 23]

Looks like it may make it... I'm ready. Its not very often we get some thing back from the government. Even if its only for a couple years Ill take what I can get. We are doomed any ways... might as well break the bank giving the money back to the tax payers. :lol:

 

[Caustic Burno]

Looks like it may make it... I'm ready. Its not very often we get some thing back from the government. Even if its only for a couple years Ill take what I can get. We are doomed any ways... might as well break the bank giving the money back to the tax payers. :lol:

We need to carefully read it.
Remember Reagans statement about the scariest sentence .” We are from the government here to help.”

 

[TexasBred]

Looks like it may make it... I'm ready. Its not very often we get some thing back from the government. Even if its only for a couple years Ill take what I can get. We are doomed any ways... might as well break the bank giving the money back to the tax payers. :lol:

We need to carefully read it.
Remember Reagans statement about the scariest sentence .” We are from the government here to help.”

:lol2: :lol2: Sorry old man but you don't get a vote but I guess you can read it "after the fact" when you got nothing else to do.

 

[Bigfoot]

Half the population pays no federal income tax anyway. A big chunk gets that earned income tax credit. I doubt the little man with callused hands sees any benefit.

 

[Bright Raven]

Half the population pays no federal income tax anyway. A big chunk gets that earned income tax credit. I doubt the little man with callused hands sees any benefit.

It is focused on large cuts in corporate taxes and those who make over a million dollars a year. A guy like you and I may get enough to go see a couple extra movies a year. But don't despair - they may be good movies.

From Reuters:

The bill includes steep tax cuts for corporations and wealthy taxpayers and a revamp of how the United States taxes multinational companies, as well as a new tax deduction for the owners of "pass-through" businesses, ranging from mom-and-pop stores to large real estate and financial enterprises.

It offers temporary tax rate cuts for some individuals and families, while reducing sharply the number of Americans who itemize deduction on their tax returns and cutting back the number and scope of available deductions.

 

[Brute 23]

I admit it's not crystal clear to me but the last one I saw had $1000 around the $100K mark, $600 around the $50k mark. It actually had lower incomes at a much higher percentage than the higher.

I'm just glad they are doing away with all the deductions and raising every ones standard deduction.

 

[Bestoutwest]

Here's a handy, dandy chart, but who knows who accurate it is. From the looks of it, I'll get back about 3% a year. I look at it like it's better than nothing. My only concern is that it's been stated this will add trillions to debt down the road. That concerns me. I'd like to leave our children with something other than massive debt. It's unfortunate that others, from both aisles, don't feel the same.
http://money.cnn.com/interactive/news/n ... -brackets/

 

[Bright Raven]

I admit it's not crystal clear to me but the last one I saw had $1000 around the $100K mark, $600 around the $50k mark. It actually had lower incomes at a much higher percentage than the higher.

I'm just glad they are doing away with all the deductions and raising every ones standard deduction.

I think one of the deductions they eliminated for cattle producers is garden hoses. They found out that guys like Bigfoot buy garden hoses for the house and charge them off as farm deductions.

 

[Bright Raven]

Here's a handy, dandy chart, but who knows who accurate it is. From the looks of it, I'll get back about 3% a year. I look at it like it's better than nothing. My only concern is that it's been stated this will add trillions to debt down the road. That concerns me. I'd like to leave our children with something other than massive debt. It's unfortunate that others, from both aisles, don't feel the same.
http://money.cnn.com/interactive/news/n ... -brackets/

Republicans have conceded that it will be "debt financed " tax cuts. No one has the backbone to rein in spending.

Remember that big talk about reducing the deficit/debt:
YouTube
https://youtu.be/jNHM4AL7LdU

 

[Brute 23]

Here's a handy, dandy chart, but who knows who accurate it is. From the looks of it, I'll get back about 3% a year. I look at it like it's better than nothing. My only concern is that it's been stated this will add trillions to debt down the road. That concerns me. I'd like to leave our children with something other than massive debt. It's unfortunate that others, from both aisles, don't feel the same.
http://money.cnn.com/interactive/news/n ... -brackets/

Yup, if the don't get significant GDP growth and/or make spending cuts it will grow.

My opinion is it will grow any ways. It's better they give it back to tax payers than Iran or welfare people.

 

[Bright Raven]

Here's a handy, dandy chart, but who knows who accurate it is. From the looks of it, I'll get back about 3% a year. I look at it like it's better than nothing. My only concern is that it's been stated this will add trillions to debt down the road. That concerns me. I'd like to leave our children with something other than massive debt. It's unfortunate that others, from both aisles, don't feel the same.
http://money.cnn.com/interactive/news/n ... -brackets/

Yup, if the don't get significant GDP growth and/or make spending cuts it will grow.

My opinion is it will grow any ways. It's better they give it back to tax payers than Iran or welfare people.

Brute:

Only a dam fool cannot see the deficit/debt growing and growing and growing. It may be counter-intuitive, but if they are going to break the country, they might as well do it boldly and send some of that worthless paper back to us minions. :lol:

 

[Jogeephus]

Only a dam fool cannot see the deficit/debt growing and growing and growing. It may be counter-intuitive, but if they are going to break the country, they might as well do it boldly and send some if that worthless paper back to us minions. :lol:

I just want a phone.

Anyone read anything in the bill about where they are going to cut down on spending? Barring phones of course. Phones are different.

 

[Bright Raven]

Only a dam fool cannot see the deficit/debt growing and growing and growing. It may be counter-intuitive, but if they are going to break the country, they might as well do it boldly and send some if that worthless paper back to us minions. :lol:

I just want a phone.

Anyone read anything in the bill about where they are going to cut down on spending? Barring phones of course. Phones are different.

Joe,

Item 271, line 33:

Be it known that every citizen in today's technological society shall have a phone.

They cut out deductions for home mortgage interest so every citizen can get a free phone.

No spending cuts. Just tax cuts.

 

[haase]

I don't mind that it's cutting the corporate tax rate from 35% to 21 or 22 percent, when the average in other countries is 21.5%, should make American companies more competitive over seas, if it helps the middle class and small businesses it's a start, as for the rest of it we will have to see.

 

[Caustic Burno]

Looks like it may make it... I'm ready. Its not very often we get some thing back from the government. Even if its only for a couple years Ill take what I can get. We are doomed any ways... might as well break the bank giving the money back to the tax payers. :lol:

We need to carefully read it.
Remember Reagans statement about the scariest sentence .” We are from the government here to help.”

:lol2: :lol2: Sorry old man but you don't get a vote but I guess you can read it "after the fact" when you got nothing else to do.

If you don’t read it you will never know how we are about to be screwed.
I hate surprises at tax time.

 

[Jogeephus]

Only a dam fool cannot see the deficit/debt growing and growing and growing. It may be counter-intuitive, but if they are going to break the country, they might as well do it boldly and send some if that worthless paper back to us minions. :lol:

I just want a phone.

Anyone read anything in the bill about where they are going to cut down on spending? Barring phones of course. Phones are different.

Joe,

Item 271, line 33:

Be it known that every citizen in today's technological society shall have a phone.

They cut out deductions for home mortgage interest so every citizen can get a free phone.

No spending cuts. Just tax cuts.

I'm glad they finally decided to follow the constitution. Besides home ownership is such a waste of quality government housing units.

 

[True Grit Farms]

Tax cuts my but. This kind of crap really pizzes me off. I'm all for making things easier and eliminating the EPA and other government agencies that hold businesses back. But to add to the deficit for a tax credit is just wrong, there's nothing conservative about that. IMO

 

[Craig Miller]

:banana: Looks like about 1000 extra a year for me. I'll have to find something to spend it on now.

 

[Bright Raven]

:banana: Looks like about 1000 extra a year for me. I'll have to find something to spend it one now.

Buy Chinese stocks so you got a head start when they own us.

 

[Craig Miller]

:banana: Looks like about 1000 extra a year for me. I'll have to find something to spend it one now.

Buy Chinese stocks so you got a head start when they own us.

I'm leaning toward one of those laser things like they put in stores to tell them somebody came in. I figure that should buy me a few extra minutes to know when somebody is coming down the drive before they get up to the house.