Tax Reform?


#403

God, what did I wake up to? I can’t believe we couldn’t muster up what 2 more GOP to thwart this…


#404

Make sure you vote for Dems next year, even though your vote won’t make a difference in SF. Wait, was there any GOP candidate in SF at all? I guess your only choice is Dem anyway

The valid question is which end of Democrats you should vote for in SF. Ultra left, left, or moderate?

The only chance you could vote for a Republican candidate in SF is presidential election. Even in that case, your vote for Hillary or Donald has 0 impact


#405

Remember Pelosi saying we have to pass Obamacare so we can find out what’s in it? If I was in charge bills would have a page limit. That’s way they can all be easily read. Also, they wouldn’t have room to shove in all the pork spending. The bill of rights would fit on a single typed page. There’s no reason for a bill longer than that.


#406

Sounds good but a 100 Senators who all want be president.
They cannot agree on anything simple…


#407

Do you want to pay capital tax in 2018 April or 2019 April?


#408

Government is a huge waste of resources. The election process, all the time wasted in political discussions, public opinion manipulations and political ads, what a wasteful politics because of the complexity of the government.

Make the government simple and small, we can use the saved time to make the world better.

Change the world using our own hand, do not force a humongous government unto people to change the world clumsily


#409

This tax bill sounds like those “Accept” buttons we click before we install a software which no one has the time to read.
:rofl::rofl::rofl::rofl:

This is the bill that we got at about 6:00 at night that we were going to vote on that night," he said of the 477-page document.

“There were no hearings. There were some general hearings about tax reform. There were zero hearings on the bill. And even the bill that was reported out by the Finance Committee was different than what we were handed that we had to vote on a few hours later,” King said.

Transcript: Sen. Angus King on "Face the Nation"
King said that he managed to read the bill all the way through on the floor of the Senate Friday night, but that he “can’t say” he “understood all of it.”

“There’s a lot of stuff in here that I don’t think, that I don’t think anybody knows what it’s all about. I just happened to pick up, I marked in the margin on page 409, ‘domestic oil and gas extraction income.’ What’s that all about? There’s a later provision about income on oil and gas from foreign countries. What’s that all about?” he said.


#410

Bills are way too long these days. Bill of rights would fit on one typed page. Why do we need almost 500 pages on this?


#411

This tax bill is going to be a disaster for deficits going forward. Soon republicans will talk of cutting Medicare and Medicaid and Social Security :slight_smile:


#412

Social Security has already been cut… I don’t get full benefits till 66. It will be 70 soon enough, already 67 for most of you… That’s a huge cut especially for men who die at 78 on average compared to women who on average make into their 8Os


#413

How is 2.5% deficit a disaster? Also, we need to reform the big entitlements. By 2032, medicare, medicaid, social security, and interest on debt will consume every dollar of tax revenue. 90% of people receive more from social security and medicare than they pay into them. That’s not sustainable. it only works if the work force grows fast enough to keep covering promised obligations.


#414

Right it’s taking away people’s promised benefits by stealth by distracting & shaking a shiny toy.


#415

We need to do something on them though. I posted the graph on the “medicare cuts”. It was a reduction in the rate of spending increase. The spending increase is still 2x inflation. That’s not sustainable long-term.


#416

My back of the envelope computation indicates taxable income less than $1M would pay less tax under the new Senate tax plan. So only the very wealthy guys pay more taxes. Also means affordability for RE hardly change.


#417

Can you show the analysis? Since the media is saying that it’s a tax increase for many or most people, you need to prove that media is wrong.


#418

#419

Read the media’s analysis. Most are focusing on when certain tax provisions expire in the future. The original Bush tax cuts had an expiration date too. Do you really think either party is going to let measures expire that’ll increase everyone’s taxes?


#420

Which means the deficit will be even bigger!


#421

If you really think the deficit is a problem, then you should look at spending. Tax revenue averages 17.5% of GDP since WW2. We’ve had a very wide range or top tax rates and different tax deductions, credits, etc. We always gravitate to that number. It’s the spending that’s growing faster than GDP. Overall, spending growing faster than GDP isn’t sustainable. You can literally map out when spending would be bigger than GDP meaning a 100% tax rate wouldn’t cover the bills.


#422