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Dems reveal tax hike plan
- Thread starter deemus
- Start date
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Couldn't open the Forbes links due to my ad blocked but found this for others that might have the same problem: https://www.nrsc.org/press-releases/senate-dems-tax-hike-plan-2018-03-07/
Seems to me this will only encourage Rs to get off their butts and vote in the mid-term.
Seems to me this will only encourage Rs to get off their butts and vote in the mid-term.
This new tax bill does more to restore working people than any tax legislation in my lifetime.
Trump tax bill:
$24,000 standard deduction
$2000 child tax credit
Obamacare penalty goes away.
I'll stop there, but there's more good. Mostly the deeper lower tax brackets Pretty much everyone pays less tax in 2018.
Trump tax bill:
$24,000 standard deduction
$2000 child tax credit
Obamacare penalty goes away.
I'll stop there, but there's more good. Mostly the deeper lower tax brackets Pretty much everyone pays less tax in 2018.
The only thing dems can bitch about with the Trump plan is that "it didn't help the poor people who need it the most".
Translated: "There was no tax cut for the people who weren't paying any taxes to begin with."
It's just like if they cut all taxes by 50% across the board. Dems would complain and say the 1% would save tens of thousands while the lower class would only save a few dollars. The reason and logic behind such a difference is obvious, but reason and logic are not currencies of the left.
fishingsetx
Well-Known
- Feb 15, 2015
- 1,610
- 66
To them, anyone not living on the government dole and voting democrat are the rich people
Guns have only two enemies: rust and politicians!
To All,
Of course the LEFTIST DIMocRATS want to raise taxes. = It's what LEFTISTS DO. TAX & SPEND.
Btw, the TWO groups that were really DAMAGED by the last two DIMocRATS maladministrations (The KLINTOONS & the ODUMBO crowd) was the TRULY POOR & the BLUE/PINK COLLAR folks.
The DIMocRATS help NOBODY except their RICHEST DONORS & THEMSELVES.
(They would NOT spit upon the "average citizen", like most of the members of this site/my family, if we all caught on fire.)
yours, satx
Of course the LEFTIST DIMocRATS want to raise taxes. = It's what LEFTISTS DO. TAX & SPEND.
Btw, the TWO groups that were really DAMAGED by the last two DIMocRATS maladministrations (The KLINTOONS & the ODUMBO crowd) was the TRULY POOR & the BLUE/PINK COLLAR folks.
The DIMocRATS help NOBODY except their RICHEST DONORS & THEMSELVES.
(They would NOT spit upon the "average citizen", like most of the members of this site/my family, if we all caught on fire.)
yours, satx
Trumps tax bill helps the working poor and the lower middle class the most.
Rich (top tax bracket) save 3%, if you ignore the loss of Sch A tax deducts. I know a guy who paid $120K in state income tax and property taxes. That's capped at $10,000 in 18. That adds another $37,000 in tax.
$45,000 a year guy, married, goes from $21,000 to $24,000 in deductions. He pays at least 6% less. Maybe more, because the lower tax brackets are deeper in 18.
You’ve had the standard deduction, correct?
Yeah, but that's all.
If you recall after the tax reformed passed. High tax states like NJ, NY and CT and maybe more were backing off with tax increases. That was their ploy and game. Raise taxes and then use SALT on federal taxes to take the sting-out. These high tax states need to curb their taxes and the spending that goes along with it. The top margin rate came down by 2%. This, as supposedly an off-set for SALT cap of $10,000 on federal taxes. Marginal help for some, bout no so much in those high tax states above or CA.
All these deductions for years were gimmicks. If you ever completed your taxes with Turbo Tax at the very end when you printed your tax documents out. The cover page would tell you what your effective tax rate was. When I was working, I was in the 28% tax bracket. With all the various deductions and mortgage interest being the largest, my effective tax rates was about 21%. In other words, a tax rate of 20% would have relieved me of all the paperwork and could have simplified my taxes on a post card of half a sheet of paper. The bottom 50% pay very little income tax. Many get a credit on their returns. Higher income earners pay the bulk of taxes to federal government. Google this and it really has not changed over the years. The problem is not taxing enough. It’s that the government spends too much.
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All these deductions for years were gimmicks. If you ever completed your taxes with Turbo Tax at the very end when you printed your tax documents out. The cover page would tell you what your effective tax rate was. When I was working, I was in the 28% tax bracket. With all the various deductions and mortgage interest being the largest, my effective tax rates was about 21%. In other words, a tax rate of 20% would have relieved me of all the paperwork and could have simplified my taxes on a post card of half a sheet of paper. The bottom 50% pay very little income tax. Many get a credit on their returns. Higher income earners pay the bulk of taxes to federal government. Google this and it really has not changed over the years. The problem is not taxing enough. It’s that the government spends too much.
Sent from my iPad using Tapatalk
