Official. Tax Cuts are a bust for Middle Income taxpayers


#102

There are a lot more traps than what are mentioned in the article.


#103

Girls!

:wink::wink::wink:
This is about you, I mean, “we” the poor, not getting our alimony. Our husband the liar and cheater shortened us on that tax cut. :rofl::rofl:

Now, here we go!

Just count how many years of good life you have left.

Ask yourself: Have I accomplished what I promised to be my goal?

Then count, add, subtract assets and liabilities. If after selling what you got, and paying what you owe you are still a schmuck, I mean, broke, you ain’t leaving, nor living, nor a rich guy that can quit from receiving phone calls at midnight about that sink flooding the apartment, no way! you are just fooling yourself. :stuck_out_tongue_winking_eye:

You are simply put it this way, working for the next hubby, or wifey, or boy/girl-friend, you never know. :sweat_smile::sweat_smile::sweat_smile:

You ain’t leaving to anywhere, nor you are living here or anywhere else. Period! :laughing:


#104

#105

A democrat in there?

no way! My friends here said democrats never give away tax cuts. :laughing::laughing::laughing::laughing:


#106

IRS Looks for Ways to Squelch New York, Connecticut SALT Workarounds

https://www.bloomberg.com/news/articles/2019-03-08/irs-looks-for-ways-to-squelch-ny-connecticut-salt-workarounds?srnd=premium


#107

Workarounds?
How about calling it was it is - theft of federal funds. Hope the IRS is successful in putting a stop to it. Funny how this slight of hand is being perpetrated by the same folks who complain endlessly about the “rich” not paying their “fair share.”


#108

Do what I tell you to do, not do what I do :slight_smile:


#109

I knew you had that Commie instinct in you attacking your fellow real estate investors. :sweat_smile::sweat_smile::sweat_smile:

So, now, go ahead, we need to fix that “theft of federal funds” aka 1031 exchange. We the people need those taxes paid right away, don’t we? :laughing::laughing::laughing::laughing::laughing::laughing::laughing:


#110

Se should close all the economy distorting loopholes and have a much lower flat tax combined with a consumption tax. That’s what the rest of the developed world does.


#111

I go to classes, attend meetings, you name the effort I make to get educated on financial things. I am still in first grade. And, I have been verbal about the hypocrisy of those poor, down to the drain people who, in their wrong assertions attack any conversation about government handouts, or tax loopholes. From the government.

After the second world war, taxes were on the 90+%. This country had the revamping of infrastructure and the lower and middle class was living in normalcy. Women could afford to stay at home, even though, they started a trend of working at the mills, smelting and building tanks and airplanes to sustain the war.

Then, republicans, as usual, started a trend to support the vane, dumb idea that rich people deserved a better treatment of their taxes in order to make this country better. They forgot one thing: During the 2nd world war, this country had war bonds to cover the costs of the military. Nothing has been done about it since. Iraq, Afghanistan were fought, and still fighting with no tax procurement for them. None at all!

From there, we have seen the destruction of the middle class one time, again and again by no matter what help the rich, screw the middle and keep the lower class as it is, perhaps with more help than others, I don’t know that much.

Then, any corporation, company, businesses, they have plenty of “loopholes” to mitigate the payment or deferring the payment of taxes.

My point is that the so called “free market” is not free. If you want to call it free, do as other countries do. If you want to build a beautiful mall somewhere, go ahead! But don’t expect tax incentives, tax deductions, deferring payment of them, etc.

That’s real free market, where the strong makes it, those in the receiving end of handouts aka deductions and incentives and deferral of payment of taxes, go away!

How on earth a company as Amazon earning $11 billion didn’t pay a penny in taxes? But we, middle class had to give away $500? Really?

If you are paying more than $50K in taxes, give me a shout. I know a program to make you save 10% of it, or more if dual ownership.

If you want to sell all your properties, getting away from being a landlord, I also know how to defer the payment of capital gains.

I can keep going on telling you schemes, tax loopholes available to those who want to know about them. I know things that make me laugh at some posters crying about “socialists” wanting to tax the rich (not them complainers, they poor, don’t qualify). :laughing::laughing:

So, there’s so much wealth hidden, taken away, deferred on tax handouts/loopholes, 1031 is one of them, and whoever uses them, whether they want to believe it or not, is depending on the government to make a living. Otherwise, they would pay their taxes right away, right?

Again, I am not against anything of the above, I just want to clarify some things. You know, not being a hypocrite person receiving handouts and berating others for doing the same thing.

“Those who control taxation, control the world”.

Att. The Rothschild.


#112

#113

#114

Ok, so why aren’t more people saying if their taxes are higher or lower? I’m guessing that means most people are lower, or they’d definitely be complaining about it. It seems lower rates, AMT changes, and increasing the income limit of child tax credit more than offset the SALT limit.


#115

It’s clear that taxes are lower for most middle income people and about the same for most lower income and poor. Have a high state tax bill and/or a monster mortgage and your taxes went up (cry me a river).


#116

First results, filed Friday, my sons IRS taxes are less 2.25% less compared to last year while they paid 0.21% higher CA tax. They do not own home, single, bay area pay.


#117

Trump’s tax does benefit middle classes, especially renters with kids, from my experience. I only hope he can tune down his rhetoric so that if I have to vote for him, I can do it without feeling guilty.


#118

You’re not in this situation :wink: Those who go into a monster mortgage was exploiting the loophole which Trump new tax policy closed. They just have to admit that they made a miscalculation or push Democrats to do something for them.
Disclosure: Don’t have a monster mortgage.


#119

To heck with the tweets. You’re not voting for Trump. You’re voting for the Trump administration. This consists of the Department of the Interior, HHS, EPA, Labor, and a few others like Energy and Education which are irrelevant because they don’t actually do anything. Under Trump these other all-powerful institutions run by un-elected bureaucrats pursue a pro-growth get-the-government-off-of-people’s-backs approach which has increased the GDP growth rate by 50% (from a 1.9% average to a 2.9% average). Another result has been the first lowering of the page count of the Code of Federal Regulations in nearly 40 years. THAT is what you would be voting for. A few other goodies like the near destruction of ISIS and an AG who isn’t waging war on the cops but mostly those things.


#120

That’s not what Trump says. Trump says it is all Trump - all himself - and he’s the one in charge of everything, all the time. There’s never been a president that works harder than him.

:rofl:


#121

And again - to heck with what Trump says. Go with what his administration does - compared to the alternative.