So what exactly does this tax bill look like?

[oreo]

I found a fairly good description from the Chicago Tribune. You can review it from this link.
The final GOP tax bill is complete. Here's what is in it.

I don't see any fiscal responsibility in this bill what-so-ever.

Large corporations move jobs overseas to avoid payroll--payroll taxes, workman's compensation, medical insurance. IOW all of our required labor costs in this country. Does anyone really believe this is going to create jobs in this country? Or will they just take this new windfall and expand their operations overseas--or simply buyback their own stock? The large corporation tax rate went from 35% all the way down to 21% in this bill.

In the article it says:

It still amounts to roughly a $1 trillion tax cut for businesses over the next decade. Republicans argue this will make the economy surge in the coming years, but most independent economists and Wall Street banks predict only a modest and short-lived boost to growth.

The final GOP tax bill is complete. Here's what is in it.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

 

[CrusaderFrank]

Winning.

That's what it looks like

 

[oreo]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

 

[ScienceRocks]

They're going to fuck over granny and children to pay for this bill for billionaires.

Billionaires are all that fucking matter to republicans.

 

[theHawk]

They're going to fuck over granny and children to pay for this bill for billionaires.

Billionaires are all that fucking matter to republicans.

Wow, I must be a billionaire now since my taxes went down!

 

[AquaAthena]

PASSED The Tax Cuts & Jobs Act

 

[theHawk]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

Why don’t you FUCKING read the article and actually tell us what you object to instead of another cut ‘n paste hit job.

I read it and it sounds great.

 

[Remodeling Maidiac]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

Why don’t you FUCKING read the article and actually tell us what you object to instead of another cut ‘n paste hit job.

I read it and it sounds great.

Libtards can't think for themselves much less articulate an original opinion.
That's why every time I post my personal opinion the dumbasses ask for a link. They just can't comprehend what it means to form an original thought.

This op is one of the worst offenders. Even Matthew, as dumb as he is, expresses his own opinions unlike most of the leftists on this board.

 

[Slyhunter]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

Why don’t you FUCKING read the article and actually tell us what you object to instead of another cut ‘n paste hit job.

I read it and it sounds great.

NO, YOU FUCKING READ this --> What's in the final Republican tax bill

 

[Natural Citizen]

Annual adjustments to income thresholds via the adoption of chained CPI into the bill will kick people into higher tax brackets while that 4 cent dollar worth of current purchasing power will continue to nose dive. People won't notice this hidden tax increase for years to come. And the 1.5 trillion will turn into 10 trillion in 10 years on top of that which will put us around 32-33 trillion in debt by that time.


The Hidden Tax Increase In The Big Six Tax Outline

Snip-

The adjustment is technical and obscure. But by using a less generous—though perhaps more accurate-- measure of inflation, it would result in people paying higher income taxes than under current law.

While the change would be barely noticeable for the first few years—it would raise less than $5 billion in 2018 and 2019 combined--over time it would result in a major tax increase. From 2018-2027, it would boost federal revenue by $125 billion and from 2028-2037, it would increase revenue by nearly $500 billion, making it one of the biggest revenue-raisers in the entire outline in that second ten years.

 

[Remodeling Maidiac]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

Why don’t you FUCKING read the article and actually tell us what you object to instead of another cut ‘n paste hit job.

I read it and it sounds great.

NO, YOU FUCKING READ this --> What's in the final Republican tax bill

See what I mean?

They have to link to inflammtory rhetoric written by someone else to articulate how they feel. They're incapable of drawing their own conclusions & expressing them. They require being led around on a leash to achieve whatever it is they seek.

The bill is there for anyone to read but rather than doing their own due diligence they will rely on others to tell them what to think.

 

[Natural Citizen]

It's the monetery policy, yo.

 

[Remodeling Maidiac]

Annual adjustments to income thresholds via the adoption of chained CPI into the bill will kick people into higher tax brackets while that 4 cent dollar worth of current purchasing power will continue to nose dive. People won't notice this hidden tax increase for years to come. And the 1.5 trillion will turn into 10 trillion in 10 years on top of that which will put us around 32-33 trillion in debt by that time.


The Hidden Tax Increase In The Big Six Tax Outline

Snip-

The adjustment is technical and obscure. But by using a less generous—though perhaps more accurate-- measure of inflation, it would result in people paying higher income taxes than under current law.

While the change would be barely noticeable for the first few years—it would raise less than $5 billion in 2018 and 2019 combined--over time it would result in a major tax increase. From 2018-2027, it would boost federal revenue by $125 billion and from 2028-2037, it would increase revenue by nearly $500 billion, making it one of the biggest revenue-raisers in the entire outline in that second ten years.

Pure speculation made up of numbers fabricated from thin air for the sole purposes of maintaining an ideological agenda.

 

[Slyhunter]

Winning.

That's what it looks like

Why don' t you FUCKING read something for a change MORON.

Why don’t you FUCKING read the article and actually tell us what you object to instead of another cut ‘n paste hit job.

I read it and it sounds great.

NO, YOU FUCKING READ this --> What's in the final Republican tax bill

See what I mean?

They have to link to inflammtory rhetoric written by someone else to articulate how they feel. They're incapable of drawing their own conclusions & expressing them. They require being led around on a leash to achieve whatever it is they seek.

The bill is there for anyone to read but rather than doing their own due diligence they will rely on others to tell them what to think.

oops I replied to the wrong post. Now I have to fix it by doing a paste and copy of my own. I'm for this tax bill btw not against it.

What's in the final Republican tax bill

ORPORATE TAX RATE: Cuts corporate income tax rate permanently to 21 percent from 35 percent, as of Jan. 1, 2018.

more money for jobs, more incentive to open up business in America instead of some other country.

PASS-THROUGHS: Creates a 20 percent deduction for the first $315,000 of qualified business income for joint filers of pass-through businesses such as partnerships and sole proprietorships. For income above that threshold, the legislation phases in limits, producing an effective marginal tax rate of no more than 29.6 percent.

Makes it easier for mom and pops to go into business. Makes it easier for an employee to become an employer.

TERRITORIAL SYSTEM: Exempts U.S. corporations from U.S. taxes on most future foreign profits, ending the present worldwide system of taxing profits of all U.S.-based corporations, no matter where they are earned. This would align the U.S. tax code with most other industrialized nations, undercut many offshore tax-dodging strategies and deliver to multinationals a goal they have pursued for years.

what part of align our tax code with other countries who are stealing our jobs do you not understand?

REPATRIATION: Sets a one-time mandatory tax of 8 percent on illiquid assets and 15.5 percent on cash and cash equivalents for about $2.6 trillion in U.S. business profits now held overseas. This foreign cash pile was created by a rule making foreign profits tax-deferred if they are not brought into the United States, or repatriated. That rule would be rendered obsolete by the territorial system.

example; apple has 4 billion in China. It isn't doing anything in China. They made it in China. Why they don't spend it there, I don't know. They can't spend it here now without paying 30% tax on it. That's outrageous. Now most likely they'll pay it out as dividends to stock holders. Who are stock holders. Every fucking person who has a 401k young and old.

CAPITAL EXPENSING: Allows businesses to immediately write off, or expense, the full value of investments in new plant and equipment for five years, then gradually eliminates this 100 percent expensing over five years beginning in year six. Also makes changes to permit for more expensing by small businesses.

"Immediately" You liberals don't understand the definition of "shovel ready". These corporations do. Now they can choose between paying taxes on the money or reinvesting the money into infrastructure of the company which will produce more jobs and getting a tax write off for doing so.

CLEAN ENERGY: Preserves tax credits for producing electricity from wind, biomass, geothermal, solar, municipal waste and hydropower.

ooOOO do I need to say anything about this. I would've wiped this out completely but surely you libs aren't against green energy?

STANDARD DEDUCTION: In a change expected to end itemizing of deductions for millions of Americans, the bill for eight years beginning on Jan. 1, 2018, would increase the standard deduction - a fixed amount that can be subtracted from adjusted gross income to lower taxable income - to $12,000 from $6,350 for individuals, and to $24,000 from $12,700 for married couples.

CHILD TAX CREDIT: Doubles the child tax credit to $2,000 per dependent child under age 17, with a refundable portion of $1,400. The refundable portion allows families to lower their tax bills to zero and receive a refund for the remaining value.


PERSONAL EXEMPTION: Temporarily eliminates the $4,050 individual personal exemption. Under present law, taxpayers who earn below certain income caps can subtract this fixed dollar amount from their adjusted gross incomes to lower their taxable incomes. Generally, one exemption has been allowed per individual, spouse and child or other dependent. This would take effect Jan. 1, 2018, but then the personal exemption would return in 2026.

I'm going to love filing taxes next year. This is where I get mine. Not to mention my higher income as companies create more jobs and have to pay more in wages to get workers.

Keep this up and we will have to re-energize the immigration policy to bring in additional employees. But fix it first for Americans, then we'll talk.

 

[usmbguest5318]

I found a fairly good description from the Chicago Tribune. You can review it from this link.
The final GOP tax bill is complete. Here's what is in it.

I don't see any fiscal responsibility in this bill what-so-ever.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

In my mind, if there's to be deficit problem, it would be with the fact that the JTCA adds $1.5T to the ~$19T we have in national debt.

Truthfully, I'm not a bid deficit or debt "hawk." What I am is of a mind to hold accountable those who profess to be either. Quite simply, I don't cotton to politicians who "wave" debt reduction and deficit cutting at voters and turn around and pass an initiative that adds to it.

• Restoring the American Dream | GOP

​

To put into some perspective the matter of just how much adding yet another $1.5T to the national debt, it took from the U.S.' founding to 1981/1982 to acquire one trillion in debt and it was not until 2007/2008 that the U.S. undertook enough deficit spending so as to in one year increase the national debt by one trillion dollars.

You see that big column in the middle, right? That is there because of the 1980s-era tax cuts. (It's not as though in the 1980s we were fighting in a war or series of minor conflicts like we did in the 1990s and 2000s.)

 

[Slyhunter]

I found a fairly good description from the Chicago Tribune. You can review it from this link.
The final GOP tax bill is complete. Here's what is in it.

I don't see any fiscal responsibility in this bill what-so-ever.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

In my mind, if there's to be deficit problem, it would be with the fact that the JTCA adds $1.5T to the ~$19T we have in national debt.

Truthfully, I'm not a bid deficit or debt "hawk." What I am is of a mind to hold accountable those who profess to be either. Quite simply, I don't cotton to politicians who "wave" debt reduction and deficit cutting at voters and turn around and pass an initiative that adds to it.

• Restoring the American Dream | GOP

​

To put into some perspective the matter of just how much adding yet another $1.5T to the national debt, it took from the U.S.' founding to 1981/1982 to acquire one trillion in debt and it was not until 2007/2008 that the U.S. undertook enough deficit spending so as to in one year increase the national debt by one trillion dollars.

You see that big column in the middle, right? That is there because of the 1980s-era tax cuts. (It's not as though in the 1980s we were fighting in a war or series of minor conflicts like we did in the 1990s and 2000s.)

If we were to do the Fiscally responsible thing we would end all handouts to the poor, other countries, and corporations. We would decrease all spending until we made more in income than we spent. But whoever proposed that wouldn't get enough votes to pass it. Our system require that we appease 430? members of Congress, each with their own personal selfish or constituent imposed agenda. If we were smart we would abolish Congress and the Executive branch and replace all of them with accountants and business managers.

 

[oreo]

I found a fairly good description from the Chicago Tribune. You can review it from this link.
The final GOP tax bill is complete. Here's what is in it.

I don't see any fiscal responsibility in this bill what-so-ever.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

If anyone sees where we're going to make up 1.5 trillion dollars in this bill in any of this, this thread is most certainly open for discussion.

In my mind, if there's to be deficit problem, it would be with the fact that the JTCA adds $1.5T to the ~$19T we have in national debt.

Truthfully, I'm not a bid deficit or debt "hawk." What I am is of a mind to hold accountable those who profess to be either. Quite simply, I don't cotton to politicians who "wave" debt reduction and deficit cutting at voters and turn around and pass an initiative that adds to it.

• Restoring the American Dream | GOP

​

To put into some perspective the matter of just how much adding yet another $1.5T to the national debt, it took from the U.S.' founding to 1981/1982 to acquire one trillion in debt and it was not until 2007/2008 that the U.S. undertook enough deficit spending so as to in one year increase the national debt by one trillion dollars.

You see that big column in the middle, right? That is there because of the 1980s-era tax cuts. (It's not as though in the 1980s we were fighting in a war or series of minor conflicts like we did in the 1990s and 2000s.)

If we were to do the Fiscally responsible thing we would end all handouts to the poor, other countries, and corporations. We would decrease all spending until we made more in income than we spent. But whoever proposed that wouldn't get enough votes to pass it. Our system require that we appease 430? members of Congress, each with their own personal selfish or constituent imposed agenda. If we were smart we would abolish Congress and the Executive branch and replace all of them with accountants and business managers.

I don't even see where they are remotely trying to pay for this. 83% of this tax bill goes to large corporations and people that really don't need a tax cut.

So start making your cuts.