House passes the biggest tax changes in 30 years
 

Congratulations....?
House passes the biggest tax changes in 30 years: The tax bill: Follow the vote live - CNNPolitics

Republicans will add $1.5 trillion to the deficit and then turn around and blame the next dem president.

A postcard to file your taxes ...

Amazing ...... if true .

https://psmag.com/.image/t_share/MTU...-869460734.jpg

It will be all undone next election cycle, the evil shit in it

Obama added 10... but I guess that's Dubya's fault still right?

It's likely going to end up being a hot mess. It's mostly just trickle down economics which we know doesn't work in the long run. This bill may well be what costs the Republicans the house in 2018.

And in the process there goes my medical benefits.

Bush kept his $6 trillion Iraq war off the books which wasnt added until Obama came until office. His tax cuts added another $2 trillion.

I tried to find some things I like in it, but it really is a giant buttfuck for the average person. I'm saying this as someone who is in a houselhold that brings in over $150k.

Maybe my taxes will be lower for a while, but there's so many things to fuck over the little guy in this bill, and make rich people richer. I would give up the few bucks I'm saving in taxes for a country that has enough money for things like medicare and social security.

How many of you conservafucks making a little more money than the average person could say that?

Maga.....

Yup this will cost them nothing good in this bill.

This will raise our deficit bigly.

Thanks, Donald.
#MAGA.

Cool. I'm okay with that, since I make more than $100K a year (and pay too much taxes).

Exactly. I guess we're supposed to be businessmen on this forum but most of the people crying about this are whiney broke dick anchor babies.

Only 11 months in and so much MAGA going on. Can't wait for the next 7 years :thumbsup

Can you list the items of importance, in order, to an American voter? It is the same in every single election cycle.

WAR------We aren't bombing 7 countries any longer. ISIS no longer holds any land.
ECOMONY-------DOW has broken its own record 70 times since President Trump was elected. GDP over 3% for the first time since Obongo took office.

Since you are a fucking retard, let me explain to you what this means: #WINNING

https://i.imgur.com/tXMTuVS.png

I know, right?

People who make the least and already pay the least taxes should logically somehow get most of the benefits of a tax cut. :1orglaugh :1orglaugh

If you are stupid enough to be born poor or middle class you get what you deserve.

Let's not reward people who don't achieve in life. If you are not making 100k by your mid-thirties, you have failed at life.

So when they have to borrow money, to cover this debt due to reduced Government income, which country will be lending it?

400 billion shortfall in the first year

China? Russia? or the Middle east?

And then if the economy kicks off! well you only make real income from exports, so who are you going to increase the exports to?

And in case your involved in alternative news universe let me answer for you

China

So your going to borrow money from China, to sell stuff back to Cjhhina, because America is being made great again?


ok hehhe

Speaking for myself this is a good thing, the doubling of the estate tax exemption affects me directly.

That is why I would never have voted for Hillary or Bernie, Hillary wanted the death tax at 65%
Bernie wanted 90%

( I didn't vote for Trump either, he's an idiot)

I also believe that despite the doom and gloom from the leftists the business economy will continue on it's upswing and this may even kick into a higher gear which will affect us all.

:2 cents:

Republican deficit is an investment ..... :2 cents:

no need for sequestration , to cut some expenses to allow that deficit ....

what the fuck do you care ... You are in a shit country half around the world ... You have no investment there...

Thanks for what , moron ?

He can't even afford a bed, he's hoping if he trolls for Trump long enough he'll buy him one.

Since you obviously don't understand simple math....

Let's hypothetically say that everyone pays a flat tax of 20%.

20% tax on a $30,000 income is $6000.

20% tax on a $500,000 income is $100,000.

Which family will be hurt more? The one who can barely pay their electric bill, or the one who may have to buy one less boat?

"Simple, fair tax filing" is racist!!!!!!!!!!!!!!!!

Yes Trump rolled back Dodd-Frank and the other banking regulations Obama put into place to protect us from another recession. What could go wrong?

Trump Rolls Back Obama-Era Financial Regulations - The New York Times

Trump is taking big steps to unravel rules designed to prevent another financial crisis

The little people are getting royally fucked for Trump & his super rich buddies just like Trump fucked everyday people with Trump University.

Question for everyone about this new Tax bill:

With the new Tax bill, Corporations will pay less taxes, and regular people will pay more.

Regular people will have less money to spend. Won't this mean less money in the economy? And with tighter wallets, doesn't this mean even less interest in buying locally produced goods? And won't this force companies to outsource even more? And isn't there a tax incentive in the new bill that gives a credit to companies who outsource?

Why not:
- Increase taxes on corporations
- Increase taxes on the rich
- Remove write-offs for Personal Jet and Golf Club Owners
- Lower Taxes for the working class and middle class
- Give companies incentives to produce locally, hire locally
- Slap companies that outsource, and give incentives to companies to return to the US?
- Tax all imports, and provide incentive to buy local?

Wouldn't this
- Create more local Jobs?
- Put more money in the hands of the working and middle class?
- Encourage spending?
- Encourage sales of locally sourced goods?
- Make America great again?

Thanks Obama.

So... You are middle class?

I agree with all of the things you want to do, but not what you believe the end result would be.

If we increase taxes on corporations, increase taxes on the rich, remove write offs for the rich, lower taxes for the middle class, give companies incentives to hire locally, etc.... None of these things is going to create more jobs or put more money into the hands of the middle class (except for perhaps lowering taxes on the middle class).

For example, increasing taxes on corporations and the rich will not create more local jobs or put money in the hands of the working class.

If you want to move the economy, you lower taxes for the middle class. If you tell my you will lower my tax bill by 20% I'll have 20% more to spend and I will buy a new TV and fridge. However, if you raise taxes for the rich by 20% they will still buy the same amount of TVs and fridges. Meaning... If I make $100k a year and I have an extra $10k reduced by my taxes, I'm going on vacation or buying a new TV. On the other hand if someone who makes $10 million a year has to pay an extra $1 million in taxes, they will still go on vacations, buy TVs, and buy fridges, etc.

Bullshit

The guy who makes $10 million that pays your salary, will cut your salary so he still makes 10 mil. YOU LOSE

Also fuck you about healthcare, it's $1800 a month for me to have it.

unfortunately economy does not work that easy. effects on a tax increase for corporations would lead the money into offshore. don´t forget that rich people can live wherever they want - poor people can´t afford that.

tax on imports to secure that people buy local would also not work. because first of all most imports are necessary for the local production and on top of that the big companies do not get big from the local market. the main part of the GNP is caused from EXPORTS.
if you tax imports from other countries they will do the same with the products you want to export. at the end of the day this will cause higher prices what have to be paid from the ordinary people.

if you replace the word "money" with "prosperity" you will get a complete other view because prosperity does not depend on how much money people have in their hands - it depends on HOW MUCH THEY CAN BUY with this money.

the one and only way to keep this value high and the costs low is to use the options of a global market. if everybody in this global market does what he can do best (and cheapest) it will lead to prosperity. if the largest share of the tax then only on consumption takes place then those who consume a lot will pay more taxes.

the problem will be than the money what is NOT spend.
and as soon you can make money with money (interest) the sum of the money will increase without a balanced productivity.

of course that is a vision and only possible when the whole planet would work with the same rules.

especially an economy as the US can not survive without the global markt - what means it can not be protected it has to compete.
trying to fix local problems by ignoring global realities can not work.

the problem of US is much deeper as in just taxes and trump´s tax cut will not work as he is expecting it. the main problem is that the local market is limited and no smart company will invest the saved money into a market what is already short before overheating.

that means: this money will not go into the US economy but in markets what still have a chance to grow and those are OUTSIDE of USA.

Need to raise taxes!)) on 150%

This bill is loaded with good news for a small SCorp like myself and my employees...%15 corporate tax break means I will be able to keep paying for my employees healthcare, not that obama shit, real healthcare with low deductible.

So, by your logic, I deserve to be "hurt more" because I am more successful and work my ass off for the money I make, while the "little" guy can continue to skate through life with as little effort as possible, and reap the benefits of my hard work?

No thanks.

Opportunity exists the same for everyone, and if anyone tells you different, they are lying to you.

All it takes to be successful is hard work, ambition and simply giving a fuck about your own future. So it's not my problem if you want to work at McDonalds for the rest of your life because you expect to be taken care of by spending other peoples' money.

S Corps don't pay a corporate tax. Who has an S Corp and doesn't know this??

Now prepare yourself for the largest cuts in programs to pay for it.
No, were are not just talking about welfare, medicare and social security, programs that have been on the chopping block for the republicans since their inception, but where will the money come from to fund the FDA, FAA, FCC, EPA or any agency that protects and manages the money, land, water and air that it is not used in a way that is detrimental to the public. Just remember those cuts when poison food starts coming in from Mexico and China.

They have used the idea of deficit spending for years to cut programs they did not like and now, adding to the deficit larger than anyone in history with a tax cut so the importance of cutting programs comes front and center to pay for it.

The tax cuts that actually come my way are not worth what I will loose.
Perhaps everyone else fairs better.

But I will be the one asked to pay for the roads, water and other infrastructure required for corporations need to do biz.
Paying for jobs....
I owe my sole to the company store...

That's nonsense. You obviously have never even known anyone successful, and certainly were never successful yourself.

One issue is that the guy making $500k is already operating at the max level, so there isn't much he can do to solve the $100k budget problem he now has. Think of a business owner who grinds 7 days per week, what is he going to do, grind 8 days per week? No, he is fucked.

On the other hand, guy making $30k can easily make extra $6k. He can for example spend few months going to some trade school, then instantly make $40k, $50k or even $100k/year depending on how motivated he is.

Another issue is that the guy making $30k pays $50 for his electric bill, while the guy making $500k lives in a bigger house and pays $500, so after 20% tax they both would have same difficulty "paying their electric bill."

Same goes for owning a "boat". $500k guy might enjoy boating (cost=$10k/year), while the $30k likely enjoys biking (cost=$100/year). What makes you think that the $500k guy will be hurt less by not being able to enjoy his hobby than the $30k guy?

I believe they are lowering the max rate on any pass-throughs (s-corps, LLCs, Trusts etc) from 39% to 25%

Good news !!!

Walmart will make more profit , so they will raise their salaries so workers no longer need foodstamps ..... :thumbsup:thumbsup:thumbsup:thumbsup



/:1orglaugh:1orglaugh:1orglaugh:1orglaugh

no need for water, roads and infrastructure after you paid for the wall ;-)
the wall will resolve all problems.
same as the taxcut will pay american debts.

$200 for me for the three of us. I'm guessing that's over.

It mostly helps the rich. Thats the sad part.

Dont worry in the end , the righties will blame obama or the dem president who will have to clean up this mess.

Real Heath Care? Obama care actually covered things which is why it wasnt cheap. We used have cheap health care insurance and it covered nothing.

See this goes to show you the biggest leeches arent the single mom on food stamps or guy working harder than we can imagine at some shitty fast food job. Its the rich guy who lived in a country where you can rise from nothing to a millionaire and how do they show their gratitude? I want to pay as close to nothing to the country who gave me a system for my business to grow. They all talk how this is the greatest country in the world but dont want to help paying for the system that makes it the greatest system.

FYI wages arent going up and jobs arent going to be created . This isnt 1986, they didnt have technology like we have now. You dont need as many people and that's not going to change. This was a greatest robbery ever, this guy Trump has done.

Its not true..

Actually, this tax cut is Republicans long term plab to kill social security, Medicare and welfare. This tax cut is going to put us in massive debt and 8 years down the road we wont have the money for ss welfae and medicare..

No.... Your healthcare will go through the roof now. And you will get less for your money. They will have those "fake packages" like before.

Killing the ACA mandate was the way to repeal the ACA by sinking the costs to explode and everyone will be screaming to get rid of it.

I wonder if we could or should get rid of the requirement for auto insurance in most all states in the union ?

I don't see the difference !

Perhaps those voting on this measure can explain.
And while they are at it explain what it has to do with lowering my taxes since I will now need to pay higher prices for critical care of those that can not afford it at the hospital.
Lowering taxes 'maybe', but only raising my cost of living more than I save in taxes.
Quite a shell game isn't it.

Paul Ryan has already said next year they will focus on entitlement reform which, in Republican speak, means trying to privatize Social Security and cutting Medicare. They may also try to actually reform welfare/food stamps, but likely it means cuts.

Ryan, McConnell and rank and file GOP seem to have figured out that Trump will sign anything they put in front of him so long as they convince him it will make him look good. I think they are going to try to force through all the stuff they have wanted for a while before the 2018 midterms so if they lose control they still got what they wanted and if they don't lose control and there is backlash or things go badly, they can just drop it all in Trump's lap.