Republican Rewrite of US Taxcode

[bbsam]

Wow, the misinformation in this thread is astounding. It is very similar to listening to the media.

Enlighten us.

 

[UpstateNYUPSer(Ret)]

Enlighten us.

He won’t. He comes in, says something funny or otherwise banal, then leaves.

 

[MAKAVELI]

He won’t. He comes in, says something funny or otherwise banal, then leaves.

A 2 pump chump?

 

[UpstateNYUPSer(Ret)]

A 2 pump chump?

You would have to ask Mom about that.

 

[bbsam]

A 2 pump chump?

You would have to ask Mom about that.

Don't.

 

[tonyexpress]

Enlighten us.

Posts 788 and 796 have enlightening information. But you said the information in post 796 was a lie... Did you even watch/listen or absorb the information.

Also, it is not my job to enlighten you grasshopper you are capable of this on your own.

He won’t. He comes in, says something funny or otherwise banal, then leaves.

Talk about being banal.... A once famous poster used these words... "YAWN"

A 2 pump chump?

Really? Keep your personal problems off of here.

 

[UpstateNYUPSer(Ret)]

Touché.

 

[bbsam]

Posts 788 and 796 have enlightening information. But you said the information in post 796 was a lie... Did you even watch/listen or absorb the information.

Also, it is not my job to enlighten you grasshopper you are capable of this on your own.



Talk about being banal.... A once famous poster used these words... "YAWN"



Really? Keep your personal problems off of here.

I started reading it.

But he started in on the same old BS about the "35% corporate tax rate". No corporation pays that. Not even close.

And there is absolutely nothing that will compel or entice corporations to invest that money in anything that "lifts all boats".

Not to mention that since passed in budget reconciliation, it's easily changed so the "certainty" desired for long term planning is nonexistent.

Given these facts, what in your libertarian mind makes you (or the commentator) think this anything but the president and his team paying off big donors?

 

[tonyexpress]

I started reading it.

But he started in on the same old BS about the "35% corporate tax rate". No corporation pays that. Not even close.

And there is absolutely nothing that will compel or entice corporations to invest that money in anything that "lifts all boats".

Not to mention that since passed in budget reconciliation, it's easily changed so the "certainty" desired for long term planning is nonexistent.

Given these facts, what in your libertarian mind makes you (or the commentator) think this anything but the president and his team paying off big donors?

Investing it here should make a difference. Keep in mind that it isn't only large corporations that benefit.

Owners of pass-through businesses – which include sole proprietorships, partnerships and S-corporations – currently pay taxes on their firms' earnings through the personal tax code, meaning the top rate is 39.6%.

The bill would create a 20% deduction for pass-through income, down from 23% in the last version of the Senate bill (the House would have introduced a new, 25% top pass-through rate). Certain industries, including health, law and financial services, are excluded, unless taxable income is below $157,500 (for single filers). To discourage high earners from re-characterizing regular wages as pass-through income, the deduction would be capped using a formula based on W-2 wages and qualified property.

Tax reform plan

The bill would set the corporate tax rate at 21%, beginning in 2018, and repeal the corporate alternative minimum tax. Unlike tax breaks for individuals, these provisions would not expire.

"On a static basis our plan will increase the deficit by a trillion and a half. Having said that, you have to look at the economic impact. There's 500 billion that's the difference between policy and baseline that takes it down to a trillion dollars, and there's two trillion dollars of growth. So with our plan we actually pay down the deficit by a trillion dollars and we think that's very fiscally responsible."

I'm not saying this is a great plan, don't know enough to say that... but to say it only benefits the 1% and poo,poo it is disingenuous in my opinion.

 

[Catatonic]

Wow, the misinformation in this thread is astounding. It is very similar to listening to the media.

More like goofy teenagers.

 

[It will be fine]

Investing it here should make a difference. Keep in mind that it isn't only large corporations that benefit.

Owners of pass-through businesses – which include sole proprietorships, partnerships and S-corporations – currently pay taxes on their firms' earnings through the personal tax code, meaning the top rate is 39.6%.

The bill would create a 20% deduction for pass-through income, down from 23% in the last version of the Senate bill (the House would have introduced a new, 25% top pass-through rate). Certain industries, including health, law and financial services, are excluded, unless taxable income is below $157,500 (for single filers). To discourage high earners from re-characterizing regular wages as pass-through income, the deduction would be capped using a formula based on W-2 wages and qualified property.

Tax reform plan

The bill would set the corporate tax rate at 21%, beginning in 2018, and repeal the corporate alternative minimum tax. Unlike tax breaks for individuals, these provisions would not expire.

"On a static basis our plan will increase the deficit by a trillion and a half. Having said that, you have to look at the economic impact. There's 500 billion that's the difference between policy and baseline that takes it down to a trillion dollars, and there's two trillion dollars of growth. So with our plan we actually pay down the deficit by a trillion dollars and we think that's very fiscally responsible."

I'm not saying this is a great plan, don't know enough to say that... but to say it only benefits the 1% and poo,poo it is disingenuous in my opinion.

And if there isn't this magical $2 trillion in new growth?

 

[bbsam]

And if there isn't this magical $2 trillion in new growth?

It's a gamble they're willing to make us pay for.

 

[tonyexpress]

It's a gamble they're willing to make us pay for.

And so is doing nothing.

 

[floridays]

It's a gamble they're willing to make us pay for.

Really cute that your side is suddenly concerned with deficits. Rich, really rich.

 

[It will be fine]

It's a gamble they're willing to make us pay for.

I think their answer is, if the growth isn't there we'll use the newly created deficit to justify cutting Medicaid and Medicare. See everybody wins, the rich get a massive tax cut and everyone else gets reduced services, what's not to like?

 

[floridays]

I think their answer is, if the growth isn't there we'll use the newly created deficit to justify cutting Medicaid and Medicare. See everybody wins, the rich get a massive tax cut and everyone else gets reduced services, what's not to like?

what's not to like? Your reasoning skills.

 

[DriveInDriѵeOut]

And so is doing nothing.

Cutting taxes when the economy is doing well is the opposite of what we should be doing.

It's a shame we have a two party system and neither party has any interest in fiscal responsibility.

 

[bbsam]

And so is doing nothing.

Why not do entitlement reform and military spending cuts?

Oh. Because "it's hard".

 

[tonyexpress]

There will be plenty of growth... It will be HUGE!!

 

[tonyexpress]

Cutting taxes when the economy is doing well is the opposite of what we should be doing.

It's a shame we have a two party system and neither party has any interest in fiscal responsibility.

Maybe you should run for president.