House passes GOP tax bill - Page 12 - Politics Forum.org | PoFo

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#14870792
jimjam wrote:I would like to sell you the Brooklyn Bridge. Interested?

No. I am interested in getting a tax cut for 2018 and beyond. That will give me more money to spend on what I like, which is not the Brooklyn Bridge. Praise the Lord.
#14871062
After the Republicans pass this piece of garbage, it will be necessary to vote all of them out of office as soon as possible, and then pass legislation that repeals this bill and raises taxes on the upper 10% dramatically, kills the carried interest exclusion, reinstates the estate tax, fully funds ObamaCare (until we pass single payer), and a whole bunch more.

These Republican sellouts are supposed to work for us, the voters, not for the lobbyists. They never seem to read that memo. Maybe a very long vacation (or retirement) will give them time to consider those simple ideas. McConnell and Ryan in particular have to go.
#14871064
redcarpet wrote:It increases taxes on the middle-income Americans and cuts them for the rich (which hardly pay any already via deductibles & using tax shelters). Also slugs social systems like Medicare.


Doesn't this make sense in the context of increasing overall tax revenue (most Americans are middle income) and driving investment by rich cappies? (lower taxes on transactions, greater incentive to move money into and out of new investment schemes.)
#14871070
They won't likely increase the investment though. More likely just shoot the extra money to their accounts in tax havens, etc. Only some will invest, create jobs, expand businesses, etc.
#14871071
jimjam wrote:McConnell and Ryan in particular have to go.


Lol, they're in GOP safe seats! Kentucky senate seat is like 76% Republican last he ran. And in the lower House it'll be hard for the Dems to win seats because of the GOP-oriented gerrymandering
#14871073
The combined net worth of the 16,000 richest Americans is approximately the same as the total wealth of 256,000,000 people.

I am an old man but Lord almighty I hope I'm around for the revolution.

Image

Garbage like this ^ needs to be removed like the festering abscess on America that he is.
#14871076
A thief walks into a bank and robs it, on average he gets $4,330.00. Without a gun he will get roughly 5 years the first time. BUT 285 guys stealing 1.5 trillion get reelected, health care, a 6 figure salary and likely millions in donations, presents and consideration. Clearly if you are a criminal you need to get into politics. In some states the public seems to insist on criminals representing them.

Unfortunately for many, many millions of Americans the result of this bill will be the already promised "hard look at entitlements" that the GOP will cry "can no longer be afforded." The interests of all of those people are sure to be sold. Right down the river.
#14871080
jimjam wrote:After the Republicans pass this piece of garbage, it will be necessary to vote all of them out of office as soon as possible, and then pass legislation that repeals this bill and raises taxes on the upper 10% dramatically, kills the carried interest exclusion, reinstates the estate tax, fully funds ObamaCare (until we pass single payer), and a whole bunch more.

These Republican sellouts are supposed to work for us, the voters, not for the lobbyists. They never seem to read that memo. Maybe a very long vacation (or retirement) will give them time to consider those simple ideas. McConnell and Ryan in particular have to go.

Only the liberal Democrats could make a tax plan worse than what we have now.
#14871087
Hindsite wrote:Only the liberal Democrats could make a tax plan worse than what we have now.
Finally, an admission of reality.

Liberal Democrats would tax the people who make the money, not the people who don't. The tax plan is the exact opposite of what it should have been.

edit: grammar
Last edited by Godstud on 15 Dec 2017 22:37, edited 1 time in total.
#14871240
Business leaders have already said that if the tax bill passes they're shoving all that extra money into dividends and stock buy backs. A completely unexpected decision certainly not based on the fact that the purpose of a publicly traded business is to increase value for shareholders.

Just fucking lol if you buy into trickle down bullshit and honestly believe a CEO's first thoughts are going to be, "Wow, now I can pay my employees more!"
#14871241
SpecialOlympian wrote:Just fucking lol if you buy into trickle down bullshit and honestly believe a CEO's first thoughts are going to be, "Wow, now I can pay my employees more!"


Near as I can tell the "trickle down" con was first used by non other than Herbert Hoover who brought us the Great Depression. It is the perfect tool for robbing the US treasury on behalf of the rich boy's club because it looks great on paper but, due to the features of greed that are genetically programed into the human species, it has never been known to work. Dumb Americans (way more than half of them) fall for it every time.
#14871243
Republican senator Portman of Ohio and on the committee to reconcile house and senate bills has held fund-raisers in recent weeks, and has another one scheduled for next week at the fashionable Charlie Palmer Steak restaurant across the street from the Capitol. Attendees are being asked to donate $1,000 each through their political action committees or $250 in personal funds, according to an invitation, which bills the event as a “birthday breakfast” for Mr. Portman, whose birthday is the day before the event.

Isn't that sweet. A "birthday breakfast" where you can "pay to play".
#14871248
Skinster

Here, MSNBC airs 3 hrs of Ali Velshi and Stephanie Ruhle who cover the economic issues.


jimjam wrote:Near as I can tell the "trickle down" con was first used by non other than Herbert Hoover who brought us the Great Depression. It is the perfect tool for robbing the US treasury on behalf of the rich boy's club because it looks great on paper but, due to the features of greed that are genetically programed into the human species, it has never been known to work. Dumb Americans (way more than half of them) fall for it every time.


I was astonished that Bush 2 pushed through on this Trickle Down nonsense after the fiasco Reagon/Dad pulled off in contrast to Clinton. But I think this is why kids are growing interested in a slightly more social system with a better GINI
#14871377
Here are some of the key alterations: The new tax rates per individual income tax bracket are (example incomes are for married individuals filing jointly):

10 percent (up to $19,050)
12 percent (above $19,050 up to $77,400)
22 percent (above $77,400 up to $165,000)
24 percent (above $165,000 up to $315,000)
32 percent (above $315,000 up to $400,000)
35 percent (above $400,000 up to $600,000)
37 percent (above $600,000).

The child tax credit will be raised to $2,000, with $1,400 of that amount being refundable. It will phase out for families making at least $400,000.

The state and local tax (SALT) deduction is capped at $10,000, which can be from any mix of local taxes, rather than just property.

Read more at: http://www.nationalreview.com/corner/45 ... just-filed
#14871440
These tax rates do not tell the whole story. If they held I might get a small decrease in my rates but we will have to see what happens to the allowable deductions.

Since I am a real conservative and not a fake one like the current big spending republicans I would forego a slightly lower rate in favor of eliminating the 1.43 TRILLION dollar deficit this tax bill creates. And this is not subject to debate. The republicans admit that it does.

Now what this means to you Hindsite. My guess is that you are anti abortion. This bill encourages abortion by eliminating the personal exemption. This means that people with children will pay more than they did before. The larger child tax credit and higher standard deduction will not overcome the slightly higher child tax credit. And it eliminates the refund for the child tax credit. So those who got a refund before won't get one now.

It will further penalize Christians in two ways. The higher standard deduction will eliminate the incentive to contribute money to churches as the usefulness of charitable contributions will not apply to someone in your tax bracket or lower. Perhaps even mine and I am well into six figures. It will make contributions to charities of all kinds less attractive to most taxpayers. The elimination of the personal exemption will discourage larger families.

Clearly this bill is anti-family. It is a big-spending bill that would make any liberal blush. It is simply an excuse to reduce or eliminate Social Security and medicare in the future. Of course Donald Trump will enrich himself dramatically from this bill. For his children this bill is a simple gift of tens of millions of dollars.

The very idea of infrastructure improvement is dead. The jobs that would have gone along with it are dead. Infrastructure improvement comes from tax money. There quite simply is not enough tax money left to pay for it. You will see that campaign promise ignored from here on out by republicans.

Now Hindsite let me ask you this. I hope, but do not believe, that you will answer it honestly. Why would we attempt to stimulate the economy at a time when the economy is the strongest it has been in decades?

Alan Greenspan was asked if reducing taxes increased government revenue. He said, "it never has in my lifetime". He was 75 at the time. And he is an arch conservative.

You have been fucked Hindsite. Because they did not kiss you first you have not noticed it yet. You will.
#14871511
The very idea of infrastructure improvement is dead. The jobs that would have gone along with it are dead. Infrastructure improvement comes from tax money. There quite simply is not enough tax money left to pay for it. You will see that campaign promise ignored from here on out by republicans.


Pity. This programme would have generated real jobs. Jobs that require skills and pay labourers well, as opposed to jobs done by machines, robots etc.
#14871558
Stormsmith wrote:Skinster

Here, MSNBC airs 3 hrs of Ali Velshi and Stephanie Ruhle who cover the economic issues.


Yeah but it sucks anyway and probably not the best place for anyone to get what they think is news. :)
#14871571
For those interested in what the changes to the tax code means for them personally, here's a website: Tax Plan Calculator

Using last year's numbers, the government would let me keep ~$750 more of my earnings.
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