Republican Rewrite of US Taxcode

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Bad Moon Risen'
your side always makes the class warfare argument when we try to eliminate unfair taxes. the estate tax is double taxation . the estate has already been taxed once when the money was earned.
Social Security is also double taxation. My wages are taxed when earned and then when I collect SS I will be taxed again on that income. Why not eliminate the tax on SS?
 

refineryworker05

Well-Known Member
Bottomline by the design of their tax cut bills, most people’s taxes are scheduled to increase in a few years to pay for the deficits created by giving wealthy people tax cuts.

This is the plain reality of the design of the bill. Unless you are rich this tax bill will probably increase your taxes by design in a few years again all so wealthy people can get tax cuts.
 

floridays

Well-Known Member
Social Security is also double taxation. My wages are taxed when earned and then when I collect SS I will be taxed again on that income. Why not eliminate the tax on SS?
No argument from me. Part of your statement may not apply to all SS beneficiaries.
 

rickyb

Well-Known Member
this is real democracy. not that vote every four years and do nothing.

Ben Wikler‏Verified account @benwikler 3h3 hours ago




This, right here, is 1600 people rallying against the GOP tax scam in a Republican county in Pennsylvania on a Sunday night.

DQKCMfyUEAEl4-D.jpg
 

vantexan

Well-Known Member
Social Security is also double taxation. My wages are taxed when earned and then when I collect SS I will be taxed again on that income. Why not eliminate the tax on SS?
SS isn't an income tax. It's a payroll tax. And you'll only be taxed on SS if you're still working when you start collecting at 62. Wait until your full retirement age and you can work as much as you want with no tax on your SS benefit.
 

floridays

Well-Known Member
SS isn't an income tax. It's a payroll tax. And you'll only be taxed on SS if you're still working when you start collecting at 62. Wait until your full retirement age and you can work as much as you want with no tax on your SS benefit.
A tax nonetheless, and it is based on your income up to the current limit. In essence it is an income tax, it goes to the general fund.
 

vantexan

Well-Known Member
A tax nonetheless, and it is based on your income up to the current limit. In essence it is an income tax, it goes to the general fund.
Actually it's not supposed to, but Congress has appropriated those funds for other uses. I don't know why they're disagreeing with me, what I wrote was factual.
 

floridays

Well-Known Member
Actually it's not supposed to, but Congress has appropriated those funds for other uses. I don't know why they're disagreeing with me, what I wrote was factual.
I know it's not supposed to, you'd have to back up 40 or so years to derail that train though.
 

Sportello

Well-Known Member
My understanding is that no corporate loopholes were closed in the new tax bill, and a couple were added.

If corporations are now taxed at 39% and actually paying about 19%, will their effective rate go to under 5% under the new tax laws?
 

rickyb

Well-Known Member
My understanding is that no corporate loopholes were closed in the new tax bill, and a couple were added.

If corporations are now taxed at 39% and actually paying about 19%, will their effective rate go to under 5% under the new tax laws?
heard they actually pay 13% or so.
 

rickyb

Well-Known Member
Ken Klippenstein liked
Alex Kotch‏Verified account @alexkotch Dec 3



Alex Kotch Retweeted Sweet LLC, ineligible for pass-thru deductions

If you make $30k or less, you get a tax *increase* that gets bigger every year. If you make $75k+ you’re good to go. This is the definition of a regressive tax code.

Alex Kotch added,


DQJB1mrXUAACOUU.jpg

Sweet LLC, ineligible for pass-thru deductions @billsweet
Winners and losers of the Senate bill
16 replies 379 retweets 577 likes
 
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