Tax Reform?

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I don’t see how these are similar. A house allows for a safer retirement which means less reliance on the government. People who are still renting at 65 are a bigger burden on the government than those who paid off their houses. House deduction is like a 401K deduction. Why allow one and not the other. (Vacation home on the other hand–that’s a luxury, so I’d vote for no deduction on a second home.)

Cars and jets? In this day and age, the government wants to discourage both and get you to take public transportation. so yeah, there’s no way you’re going to get a tax deduction on either.

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The Federal government serves no one but itself. Let’s be quite honest about that.

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Are they really? I’m seeing “homeless” guys with Iphone 6s. They may be poorer, but they certainly live like they’re rich.

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Since the government started “helping” make homes more affordable, prices started increasing faster than inflation. Home ownership rate only increased briefly before the Great Recession during the no doc loan days. The government programs have varied from no impact to the opposite impact intended.

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We have a dumb party holding the reigns of our destiny. Admit it, they weren’t prepared for nothing. Not for Obamacare, not for the tax reform which is of the outmost importance on these modern times. All they are good is to obstruct and poised as the saviors of nobody, but the lobbyists, from NRA, to oil and high tech, insurance and whatnot. They had 8 years to draft a good plan to repeal and replace Obamacare but you saw the disaster they came to face.

Then, they just drafted a tax reform plan in the middle of the night, with the caveat: They didn’t allow members of their own party to know the specifics so they could consult with their constituents, if that exists anymore. You can’t run a country like that, not even a 7-11.

This country can’t go forward with this monopoly of our servants in congress living like queens and kings. The same pundits that told you they were coming to drain the swamp were caught, well, being monsters of the swamp riding in jets and nonetheless the liar in the white house spending $ millions every weekend playing golf. Something he swore never to do, which leaves his supporters lacking of dignity and empathy for those who are suffering in disaster zones needing that unnecessary spent money.

I feel for my adopted country, you may not feel anything, you may be accustomed to your way of living because you found, as corporations found, the benefits of incentives/tax deductions. Don’t give me that crap of saying that rich and poor people are different because of the financial opportunities. We may not think about it, but besides the Bay Area or CA to be specific, there are entire towns, states in need of an opportunity like the one you had. But nowadays, the chances of them becoming one of you are getting shorter and shorter. They don’t live here! Their incomes are not even enough to put a decent piece of beef on their plates, and you want them to know or be better than a rich guy?

I for once, believe it or not, expected something “new and different” with this tax reform. But as I felt and I knew it, another worthless move has been made. Another Reagan Trickle down effect is placed in the grinder. Excuse my French but the same old shit came out.

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More people are moving up than down. You won’t read about that, since it doesn’t create fear and divide people against each other. I guess trickle down was working. The left has declared war on capitalism and doesn’t care how much the media has to lie to help win.

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Removal of the AMT. might remove the sting
of reduced deductions… I thought most high earners in California Couldn’t use most of their deductions due to the AMT

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Funny. Now the socialists are republicans.

Who would’ve thought of it. They are not complaining!

Oh…wait! Because it is not a democrat making the changes!

:rofl::rofl::rofl::rofl::rofl::rofl::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::sweat_smile::rofl::rofl::rofl::sweat_smile::sweat_smile::joy::joy::joy::joy::joy::joy:

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The big problem with living in California is the state income tax…aroung 10% for many uo to 13%…Deductions will save maybe 25- 35% of that…Can’t blame Trump for our high state taxes…Which also include the highest sales taxes and gas taxes…California can whine all it wants about Trump’splan…Or it can cut spending and reduce taxes…

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71

This is the exact mentality the founders wanted to avoid by only allowing tax payers to vote. There’s zero nobility in demanding others pay more money yet people act like there is. Also, I hate to break it to you but 90%+ of Americans would consider bay area home owners are rich. They are talking about increasing taxes on you too. Once they realize you can tax the top 1% at 90% and not solve the budget gap, they are going to look to raise taxes on the next highest earners.

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SURPRISE…SURPRISE! WE KNEW THIS BILL IS GOING TO BE A BAG FULL OF STUPID SURPRISES!

NOW THE DUMBSTERS, AFTER FAILING TO REPEAL OBAMACARE, ARE TRYING TO DO IT THROUGH THE TAX REFORM.

WHERE’S TRUMPCARE, THE CHEAP AND AFFORDABLE HEALTHCARE?

Republicans are looking for other ways to squeeze more dollars out of the bill.

On Friday, Mr. Brady released an amended version of the tax bill that will reduce the value of the income tax cuts for individuals by $90 billion over the course of a decade and slightly shrink the estimated cost of the legislation.

The amended bill includes a technical change that immediately adopts a revised measure of inflation, known as “chained CPI”, which would change how inflation is calculated, thus slowing the speed at which tax brackets grow with inflation. As a result, Americans would more quickly find themselves in higher marginal tax brackets — jumping from a 12 percent top bracket to 25 percent, for example — as their incomes increase.

The chained measure would also slow the value growth of some inflation-adjusted tax benefits, such as the Earned Income Tax Credit.

DARN SOCIALISTS! HOW DARE THEY INCREASE TAXES ON THE RICH! :joy::joy:

http://www.msn.com/en-us/news/politics/republicans-weigh-inserting-health-coverage-mandate-into-tax-overhaul/ar-AAupJnu?ocid=ientp

73

Yup. 90% of Americans don’t have a clue that there are 1st/2nd/3rd world tiers in our own country.

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Republicans are looking for other ways to squeeze more dollars out of the bill.

On Friday, Mr. Brady released an amended version of the tax bill that will reduce the value of the income tax cuts for individuals by $90 billion over the course of a decade and slightly shrink the estimated cost of the legislation.

The amended bill includes a technical change that immediately adopts a revised measure of inflation, known as “chained CPI”, which would change how inflation is calculated, thus slowing the speed at which tax brackets grow with inflation.

As a result, Americans would more quickly find themselves in higher marginal tax brackets — jumping from a 12 percent top bracket to 25 percent, for example — as their incomes increase.

The chained measure would also slow the value growth of some inflation-adjusted tax benefits, such as the Earned Income Tax Credit.

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Who’s the nut job posting the same thing in a bunch of threads? Wow. Someone needs attention.

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The reporter asked the investors if they would put their money gotten from tax cuts to work and create jobs. They didn’t raise their hands, did they? :thinking::thinking::thinking::thinking::thinking::thinking:

And the idiots keep believing that crap. :star_struck:

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All the Anti-Trump camp newspapers may claim that Tax plan will not help, but we will see major changes down the lane in few years.

In fact, by taxing high rates, we have made companies to go out of USA.

Had republicans able to agree on 15% corp tax, as proposed by Trump, USA will have booming economy after few years.

In this case, Trump is master minded and he knows the benefit (being a corp person). Once tax is reduced, companies will re-migrate as USA becomes tax heaven country.

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Click on the link above. They won’t. Billionaires have been saying they didn’t need tax breaks. They are doing fine, not the people who are going to be losing on their Medicare and health plans.

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Republicans are looking for other ways to squeeze more dollars out of the bill.

On Friday, Mr. Brady released an amended version of the tax bill that will reduce the value of the income tax cuts for individuals by $90 billion over the course of a decade and slightly shrink the estimated cost of the legislation.

The amended bill includes a technical change that immediately adopts a revised measure of inflation, known as “chained CPI”, which would change how inflation is calculated, thus slowing the speed at which tax brackets grow with inflation.

As a result, Americans would more quickly find themselves in higher marginal tax brackets — jumping from a 12 percent top bracket to 25 percent, for example — as their incomes increase.

The chained measure would also slow the value growth of some inflation-adjusted tax benefits, such as the Earned Income Tax Credit.