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RE: New GOP Tax Plan - 11/3/2017 2:11:53 PM   
MercTech


Posts: 3706
Joined: 7/4/2006
Status: offline 		Trusting a group with a 12 decade history of saying one thing and screwing the public sound like a variation on the definition of insanity to me. i.e. doing the same thing over and over and expecting a different result each time. The only thing big government creates is more government.

(in reply to Musicmystery)
Profile   Post #: 21
RE: New GOP Tax Plan - 11/3/2017 2:16:48 PM   
SeekingMnD


Posts: 15
Joined: 7/8/2015
Status: offline 		Have the republicans been in congress that long, my, my. Yes, I guess they have and then some.

(in reply to MercTech)
Profile   Post #: 22
RE: New GOP Tax Plan - 11/3/2017 2:28:03 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

ORIGINAL: MercTech

Trusting a group with a 12 decade history of saying one thing and screwing the public sound like a variation on the definition of insanity to me. i.e. doing the same thing over and over and expecting a different result each time. The only thing big government creates is more government.

This is so stupid it’s hard to know where to start.

(in reply to MercTech)
Profile   Post #: 23
RE: New GOP Tax Plan - 11/3/2017 2:31:11 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline 		Everyone....calmmm the fYY$$#$!!....dowwwwwn....on the whole new tax thing...sheeeeeeeeeeet.....just read the shit (and realize...it's gonna change still):

1) Mortgage interest deductions will be capped at 500 grand (interest on)...is your mortgage more than 500 grand (unlikely...since the average mortgage is under 200 grand)? REEEELAAAAXXX....some VERY bright mortgage company very soon will offer a mortgage on 500 grand with interest....2 points above standard....and if you deposit 50 grand in their bank....no interest on the remaining....(seriously....chill!!! The market will find a way).

2) You can STILL deduct 10 grand a year of your RE taxes (average RE taxes on a home in the U.S.: $2,300.00)....(HO insurance is still deductible).....your (what I call..."wipe out") is 12 grand...so...first 12 grand...no taxes...you can't deduct sales tax and related (who saves those receipts?...we all should have but...did you???)...so...worst case (under 100 grand in income)...you're better off....200 grand....probably better off....500 grand....probably not (contrary to all the screaming of Democrats...the wealthy will pay MORE...the UBER wealthy (1 million and up)....you get a pretty sweet deal....about 7 - 20% less than you paid before (arguably because you're going to create jobs...which frankly...if I was making that and was making an extra say....12% on 1,000K and up...I'd be investing it in jobs that make me even more so...yeah...I think this is a pretty decent plan).

Number of folks making a million and more a year.....(pretty small).

(in reply to Musicmystery)
Profile   Post #: 24
RE: New GOP Tax Plan - 11/3/2017 2:32:55 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline 		Seriously...how many of you have a mortgage above 500 grand?

And...realize...the market is going to show up and greet that demand with loans that provide you with an advantage....

CHILL!!!!!!!!!!!!!!!

(in reply to AtUrCervix)
Profile   Post #: 25
RE: New GOP Tax Plan - 11/3/2017 2:37:26 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline 		(I will NEVER understand people that FREAK the fuck out about a deal. CHANGE THE MOTHERFUCKING DEAL!!!!!!!!!!!!!!!)

NEXT!!!????

(in reply to AtUrCervix)
Profile   Post #: 26
RE: New GOP Tax Plan - 11/3/2017 2:49:04 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline 		Not sure why it matters, but roughly 500,000 Americans earn 1 million or more per year (it fluctuates each year).






< Message edited by Musicmystery -- 11/3/2017 2:52:51 PM >

(in reply to AtUrCervix)
Profile   Post #: 27
RE: New GOP Tax Plan - 11/3/2017 2:55:12 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline
quote:

ORIGINAL: Musicmystery

Not sure why it matters, but roughly 500,000 Americans earn 1 million or more per year (it fluctuates each year).


It's still less than 1/3rd of 1/3rd of 1% of all U.S. citizens.....(probably closer to 1/3rd of 1% of all tax payers).

10,000 per state....it really ain't that much, all things considered.

Truthfully...fewer than 10% of THOSE would likely re-invest...but...it's a start.

The Democrats are using "Kansas" as their argument against why it won't work....but honestly...have you been to Kansas lately?

(in reply to Musicmystery)
Profile   Post #: 28
RE: New GOP Tax Plan - 11/3/2017 2:57:55 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline 		Yeah, it’s just half a trillion dollars. No big deal.






< Message edited by Musicmystery -- 11/3/2017 3:14:04 PM >

(in reply to AtUrCervix)
Profile   Post #: 29
RE: New GOP Tax Plan - 11/3/2017 3:03:08 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline 		It won’t work because it’s based on wishful thinking.

If either of us ran our businesses that way, we’d have negative cash flow.

As does the US. This “plan” (it’s really blind, unsupported hope) will exacerbate that deficit.

(in reply to AtUrCervix)
Profile   Post #: 30
RE: New GOP Tax Plan - 11/3/2017 4:10:08 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline
quote:

ORIGINAL: Musicmystery

Yeah, it’s just half a trillion dollars. No big deal.



As Everett Dirkson once said (altered slightly) "half a trillion here....half a trillion there...and pretty soon you're talking real money"

(in reply to Musicmystery)
Profile   Post #: 31
RE: New GOP Tax Plan - 11/3/2017 4:14:07 PM   
AtUrCervix


Posts: 2111
Joined: 1/15/2016
Status: offline
quote:

ORIGINAL: Musicmystery

It won’t work because it’s based on wishful thinking.

If either of us ran our businesses that way, we’d have negative cash flow.

As does the US. This “plan” (it’s really blind, unsupported hope) will exacerbate that deficit.



Your argument presumes the ongoing debate: "Can't do 3% GDP annual growth"....

Valid...it's a tough bet but...we've now had 2 quarters of "can't do it" (and....did it).

And, we just finished a quarter of "can't do it" (and did it)....PLUS.....3% improved productivity (which is basically....3% GDP + Steroids).

So....I'm thinking.....for 10+ months we've seen "can't do it"......do it......

I say we all chill and let the man try.

(in reply to Musicmystery)
Profile   Post #: 32
RE: New GOP Tax Plan - 11/3/2017 4:17:25 PM   
bounty44


Posts: 6374
Joined: 11/1/2014
Status: offline 		at the same time, and I don't know the details of the overall picture/plan---does the thought of ever cutting back expenses enter into the comrades' minds?

god forbid the people should be allowed to hang on to more of their OWN money as opposed to having the leviathan take more and more of it.

(in reply to AtUrCervix)
Profile   Post #: 33
RE: New GOP Tax Plan - 11/3/2017 4:44:46 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

ORIGINAL: AtUrCervix


quote:

ORIGINAL: Musicmystery

It won’t work because it’s based on wishful thinking.

If either of us ran our businesses that way, we’d have negative cash flow.

As does the US. This “plan” (it’s really blind, unsupported hope) will exacerbate that deficit.



Your argument presumes the ongoing debate: "Can't do 3% GDP annual growth"....

Valid...it's a tough bet but...we've now had 2 quarters of "can't do it" (and....did it).

And, we just finished a quarter of "can't do it" (and did it)....PLUS.....3% improved productivity (which is basically....3% GDP + Steroids).

So....I'm thinking.....for 10+ months we've seen "can't do it"......do it......

I say we all chill and let the man try.

No, my argument presumes that wishing for 3% improved productivity is not a plan.

As you put it, 3% GDP + Steroids. It's wishful thinking.

If there's a solid cause/effect plan, let's hear it.

But we're not hearing it. Because there is no plan.

(in reply to AtUrCervix)
Profile   Post #: 34
RE: New GOP Tax Plan - 11/3/2017 4:46:10 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

ORIGINAL: bounty44

at the same time, and I don't know the details of the overall picture/plan---does the thought of ever cutting back expenses enter into the comrades' minds?

god forbid the people should be allowed to hang on to more of their OWN money as opposed to having the leviathan take more and more of it.

That's not in the "plan" (actually the lack of a plan) either.

It will all just work out. By magic.

Or "alternative facts."

(in reply to bounty44)
Profile   Post #: 35
RE: New GOP Tax Plan - 11/3/2017 5:29:05 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline
quote:

ORIGINAL: ThatDizzyChick

quote:

what little I have heard says its deficit neutral if one considers the economic growth that comes as a result from it.

Strange isn't it, the economic growth they always promise will come from cutting taxes on the rich never actually materializes in a manner that impacts anybody but the rich, eh?

There is a TED speech on this by a billionaire, I forget who, said the tax cut attempts at economic growth never work and will never work simply because of the numbers.

It increases untaxed wealth that then does not look for anymore or any different investments let alone riskier and of course, creates no jobs.....

.....and doesn't result in any significant increase in their consumption because nobody takes a financial windfall and buys even dozens of cars or million$ in new clothes.

This is supply side economics [sic] reprise that never ever produces the revenue to replace or 'fund' the tax cut.

The whole debate centers around nothing but economic semantics such as something called dynamic scoring (not any of our scoring) which I guess this gets its name from the assumption of some resulting new 'dynamic' is created.

Never happens.

The US needs more dollar velocity (more dollars in and changing more hands) which is what sustains and creates more demand for the economy as a whole. That's what needed to create more demand and jobs.

Even if the bottom 50% in income were to see billion$ more in their paychecks, so what. Every penny of all taxes cut would have to be spent on goods and services made and provided by labor in the US. Fat chance of that happening.

MJ01 we are counting on you man to do your patriotic duty as should everybody, to spend it all, yes,...all of it dude and spend all of that cash as directed above or it will not...do shit for the US economy. (but not all in one place and no stocks or bonds)

Paraphrasing:
"Why cut taxes for the rich ? Cut taxes for the poor and the rich will have most of it in a day or two." I think it was Will Rogers.


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(in reply to ThatDizzyChick)
Profile   Post #: 36
RE: New GOP Tax Plan - 11/3/2017 7:25:07 PM   
MasterJaguar01


Posts: 2340
Joined: 12/2/2006
Status: offline
quote:

ORIGINAL: AtUrCervix

Everyone....calmmm the fYY$$#$!!....dowwwwwn....on the whole new tax thing...sheeeeeeeeeeet.....just read the shit (and realize...it's gonna change still):

1) Mortgage interest deductions will be capped at 500 grand (interest on)...is your mortgage more than 500 grand (unlikely...since the average mortgage is under 200 grand)? REEEELAAAAXXX....some VERY bright mortgage company very soon will offer a mortgage on 500 grand with interest....2 points above standard....and if you deposit 50 grand in their bank....no interest on the remaining....(seriously....chill!!! The market will find a way).

2) You can STILL deduct 10 grand a year of your RE taxes (average RE taxes on a home in the U.S.: $2,300.00)....(HO insurance is still deductible).....your (what I call..."wipe out") is 12 grand...so...first 12 grand...no taxes...you can't deduct sales tax and related (who saves those receipts?...we all should have but...did you???)...so...worst case (under 100 grand in income)...you're better off....200 grand....probably better off....500 grand....probably not (contrary to all the screaming of Democrats...the wealthy will pay MORE...the UBER wealthy (1 million and up)....you get a pretty sweet deal....about 7 - 20% less than you paid before (arguably because you're going to create jobs...which frankly...if I was making that and was making an extra say....12% on 1,000K and up...I'd be investing it in jobs that make me even more so...yeah...I think this is a pretty decent plan).

Number of folks making a million and more a year.....(pretty small).


None of this is worth shit for married people.

Why?

Because the Standard deduction doubles to 24k.

No more itemizing.... Unless you pay 20+k in mortgage interest and the rest in property taxes.

So... The fact that these deductions are available, is meaningless.

If you are single, your standard deduction is 12k... You might get a small deduction if you are a single homeowner.

(in reply to AtUrCervix)
Profile   Post #: 37
RE: New GOP Tax Plan - 11/3/2017 7:48:49 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		All of the current growth is because of Obamas economic plan. Just ask the liberal posters here.

(in reply to AtUrCervix)
Profile   Post #: 38
RE: New GOP Tax Plan - 11/3/2017 7:50:18 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		They worked for Kennedy, and they worked for Reagon.

(in reply to MrRodgers)
Profile   Post #: 39
RE: New GOP Tax Plan - 11/4/2017 1:58:37 AM   
Lucylastic


Posts: 40310
Status: offline
quote:

ORIGINAL: servantforuse

All of the current growth is because of Obamas economic plan. Just ask the liberal posters here.

Youve been saying for a long time you are happy with your financial situation, so Obama must have done something right, and its not just because trump is now prez.
It certainly wasnt anything conservatives and republicans, libertarians had helped with.

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(in reply to servantforuse)
Profile   Post #: 40
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