CDZ If the Tax Bill Passes

Discussion in 'Clean Debate Zone' started by william the wie, Oct 21, 2017.

  1. Xelor
    Offline

    Xelor Gold Member

    Joined:
    Jan 1, 2017
    Messages:
    7,695
    Thanks Received:
    1,133
    Trophy Points:
    210
    Location:
    D.C.
    Ratings:
    +4,025
    FWIW, the $130K sum was correlated by the news reporter to taxable incomes (i.e, income after one has taken one's allowed deductions and calculated one's AMT liability) of $730K. Quite a ways from from $4M, but nonetheless an income that affords one a very comfortable lifestyle. (As I stated before, I don't know what specific provisions allowed them to arrive at that figure; I just merely repeated what they said.)
     
  2. Xelor
    Offline

    Xelor Gold Member

    Joined:
    Jan 1, 2017
    Messages:
    7,695
    Thanks Received:
    1,133
    Trophy Points:
    210
    Location:
    D.C.
    Ratings:
    +4,025
    I have to wonder, even if we do hit 4% GDP growth, what share of that growth will be enjoyed by middle and upper middle income households/individuals, and most especially those who've been counting on Trump to be their economic savior of sorts. Truly, I'm hard pressed to think that those people are the one's who'll be reaping the rewards of such growth. If those people aren't the primary beneficiaries, the Dems won't have a damn thing to worry about, but Trump most certainly will.

    Frankly, I'm less disturbed Democrats realizing political gains than I am by Trump, or someone having a depraved character like Trump's, being POTUS. I don't care how that man is removed from office; I just know that man and his ilk need to be eradicated from public service, or at least completely marginalized and made politically and authoritatively (in government) impotent. If that means Democrats win the presidency, the Congress, one chamber of Congress, whatever, so be it. I'm really at the point of utter indifference about just how it happens.
     
    • Informative Informative x 1
  3. alang1216
    Offline

    alang1216 Pragmatist

    Joined:
    Jun 21, 2014
    Messages:
    2,755
    Thanks Received:
    263
    Trophy Points:
    130
    Location:
    Virginia
    Ratings:
    +768
    I'm only a little less impressed. I thought the $130K was the 3.3% difference on Trump's reduction. I guess that's why I'm not in the 1%.
     
    • Funny Funny x 1
  4. alang1216
    Offline

    alang1216 Pragmatist

    Joined:
    Jun 21, 2014
    Messages:
    2,755
    Thanks Received:
    263
    Trophy Points:
    130
    Location:
    Virginia
    Ratings:
    +768
    Income inequality has bee growing for decades and if you ever bring it up you're acused of class warfare. Well that war has already been won: "trickle down", "rising tide lifts all boats", etc. Eliminating the estate tax will be the nail in the coffin. Why do the majority of Trump supporters want to get rid of it?
     
  5. Xelor
    Offline

    Xelor Gold Member

    Joined:
    Jan 1, 2017
    Messages:
    7,695
    Thanks Received:
    1,133
    Trophy Points:
    210
    Location:
    D.C.
    Ratings:
    +4,025
    Income inequality, in and of itself, don't rankle me. Its causes, on the other hand, in some instances do. To the extent that some of the inequality is attributable to inequity in the tax code and other forms of legislative favoritism, yes, I find that unacceptable, unconscionably so.

    Does it bother me that someone comes up with a highly profitable idea/innovation and makes a mint selling it? No. Does it bother me that someone is well off because they inherited it? No. What bothers me is giving favors and legislative "bonuses" to folks who are least in need of such things.
     
  6. alang1216
    Offline

    alang1216 Pragmatist

    Joined:
    Jun 21, 2014
    Messages:
    2,755
    Thanks Received:
    263
    Trophy Points:
    130
    Location:
    Virginia
    Ratings:
    +768
    Have to disagree. You earned your money, you deserve to enjoy it. Inheritance is a different story, I think it is bad for society.
     
  7. sartre play
    Offline

    sartre play Gold Member

    Joined:
    May 4, 2015
    Messages:
    1,561
    Thanks Received:
    162
    Trophy Points:
    140
    Ratings:
    +588
    Trying, but just cant find a plus in this tax bill, raises the national debt, no help for the old or working class.
     
  8. Leo123
    Offline

    Leo123 Senior Member

    Joined:
    Aug 26, 2017
    Messages:
    857
    Thanks Received:
    111
    Trophy Points:
    45
    Ratings:
    +575
    It's not about government/IRS helping anyone it's about getting government out of the way. Libbies can't understand this because most feel entitled to other people's money.
     
    • Agree Agree x 1
  9. Old Yeller
    Offline

    Old Yeller Gold Member

    Joined:
    Sep 13, 2015
    Messages:
    7,403
    Thanks Received:
    1,507
    Trophy Points:
    290
    Location:
    driving
    Ratings:
    +6,417

    All those words? I have seen you post this elsewhere. edit: I see you corrected you error in a later post. My apologies.

    The upper Tax rate will not be 25%? It will stay near the same? 35% - 40%.
    The BUSINESS tax rate will be 15% - 20%. I am not clear how they separate a "BUSINESS" from a high earner.
    Feel free to clear that up. In 100 words or less.
     
    Last edited: Oct 25, 2017
  10. Old Yeller
    Offline

    Old Yeller Gold Member

    Joined:
    Sep 13, 2015
    Messages:
    7,403
    Thanks Received:
    1,507
    Trophy Points:
    290
    Location:
    driving
    Ratings:
    +6,417
    People without a job........many may now be able to go back to work?

    Even a modest job will pay $35K/year vs. $~20K/year on Govt. benefits. That is about a 75% raise for those who may get off the couch. Overall wages should rise due to competition.
     

Share This Page