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The new tax reform proposal


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#21 robgar

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Posted 28 September 2017 - 02:52 AM

hope it gets shit canned like his health care bills

are you really this ignorant.  what do you want?



#22 robgar

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Posted 28 September 2017 - 02:52 AM

what i was hoping for was dual taxation to be done away with



#23 robgar

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Posted 28 September 2017 - 02:53 AM

excuse me dual taxation without representation



#24 jetlord

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Posted 28 September 2017 - 02:55 AM

Do you really think people decide to buy rather than rent because of the mortgage deduction?  Maybe a few, but it's over sold as an incentive IMHO.  Expanding on my earlier example, lets compare two buyers with an 80% loan.  One buys a million dollar house and is in the 39% bracket.  The other buys a $200,000 house and pays 10% income tax rate.  First guy:  800,000*.04*.39 saves $12,480 off his tax bill.  Second guy:  160,000*.04*.10 saves $640.  The first guy will buy a house because he can afford it whether there's a tax benefit or not.  The second doesn't get enough benefit to change anything.  If we really want tax simplification, then we need to give up on the individual tax preferences.   



#25 robgar

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Posted 28 September 2017 - 02:55 AM

how much of your income do you believe should be taxed .. vs how much of mine..

 

 

mine,

 

meaning someone who does not live in the states,  does not earn income in the states..

 

just because i make a decent living abroad..  does this give you a right to my income?



#26 mex

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Posted 28 September 2017 - 03:54 AM

Do you really think people decide to buy rather than rent because of the mortgage deduction?  Maybe a few, but it's over sold as an incentive IMHO.  Expanding on my earlier example, lets compare two buyers with an 80% loan.  One buys a million dollar house and is in the 39% bracket.  The other buys a $200,000 house and pays 10% income tax rate.  First guy:  800,000*.04*.39 saves $12,480 off his tax bill.  Second guy:  160,000*.04*.10 saves $640.  The first guy will buy a house because he can afford it whether there's a tax benefit or not.  The second doesn't get enough benefit to change anything.  If we really want tax simplification, then we need to give up on the individual tax preferences.   

totally understand that jet but any tax relief is good.

 

I ain't willing to give anything up until they give something back in return

 

that comes from years of watching the dems



#27 mex

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Posted 28 September 2017 - 03:58 AM

The vast majority of corporate profits are plowed back into the business for expansion, development, research, all of which grows the economy and requires more employees.  The board might give the officers a raise and maybe a dividend increase will occur, but that's not where most of it goes in most corporations.  Tax corporation too much, they shrink or move off shore.  Tax them too little, and the government loses revenue.  There's an optimal point, but with world wide competition, the 35% rate is a killer.  Why don't you back up your biased statements with some facts or data?

which is taxed... so OC should be happy



#28 Calichief

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Posted 28 September 2017 - 03:58 AM

Government just took 41% of my bonus.

#29 mex

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Posted 28 September 2017 - 03:58 AM

Government just took 41% of my bonus.

that's because you're rich



#30 Biggjliv4

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Posted 28 September 2017 - 08:04 AM

Why not try something new for the first time and initiate a flat tax. Then initiate a balanced budget amendment and make them operate just as you and I do? Try something different than this same cycle we've been doing the last 100 years.

Time the govt be held accountable with OUR money. They cry when they have to make cuts, but don't bat an eye when we have to every time they add a new tax or fee.

#31 robgar

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Posted 28 September 2017 - 08:21 AM

Hrmm Germany took 50% then the us 35%


So my bonus ain't much at all.

#32 omahacolt

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Posted 28 September 2017 - 12:14 PM

https://amp.cnn.com/...fery/index.html

Interesting read

#33 BroncoStud

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Posted 28 September 2017 - 12:30 PM

Government just took 41% of my bonus.

Ouch.



#34 mex

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Posted 28 September 2017 - 02:06 PM

Why not try something new for the first time and initiate a flat tax. Then initiate a balanced budget amendment and make them operate just as you and I do? Try something different than this same cycle we've been doing the last 100 years.

Time the govt be held accountable with OUR money. They cry when they have to make cuts, but don't bat an eye when we have to every time they add a new tax or fee.

20 trillion in immediate borrowed debt

128 trillion in unfunded liabilities

Wait until the boomers get on Medicare and SS

#35 oldtimer

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Posted 28 September 2017 - 02:20 PM

Government just took 41% of my bonus.

 

 

POOT has it happen every month..its the capital gain rate  ..hopefully that'll be lessened



#36 BroncoStud

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Posted 28 September 2017 - 02:57 PM

20 trillion in immediate borrowed debt

128 trillion in unfunded liabilities

Wait until the boomers get on Medicare and SS

Yep - That's the real end game.  It will hit the fan.



#37 Mloe68

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Posted 28 September 2017 - 03:16 PM

Can't stand Trump and he's been a miserable President so far, but I do like this tax plan. Mostly it will help small business quite a bit.

#38 mex

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Posted 28 September 2017 - 04:20 PM

Can't stand Trump and he's been a miserable President so far, but I do like this tax plan. Mostly it will help small business quite a bit.

Agreed. I personally despise trump... ever since he was rude to Carly during the debates. He's a pompous ass, and he's no conservative.

 

That said, I liked his SCOTUS pick... I also like watching the left implode and the media being exposed for what it really is... a left wing propaganda emporium... hopefully his tax plan will evolve into something that will drive the economy instead of stifling it



#39 wilkie

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Posted 28 September 2017 - 04:43 PM

The vast majority of corporate profits are plowed back into the business for expansion, development, research, all of which grows the economy and requires more employees.  The board might give the officers a raise and maybe a dividend increase will occur, but that's not where most of it goes in most corporations.  Tax corporation too much, they shrink or move off shore.  Tax them too little, and the government loses revenue.  There's an optimal point, but with world wide competition, the 35% rate is a killer.  Why don't you back up your biased statements with some facts or data?

I wish they were putting money back into corporation but they do not. Trickle down huge failure in Kansas

#40 jetlord

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Posted 28 September 2017 - 04:58 PM

totally understand that jet but any tax relief is good.

 

I ain't willing to give anything up until they give something back in return

 

that comes from years of watching the dems

Agree, but tax relief doesn't mean mortgage deductions.  My real problem with this issue is that government shouldn't be manipulating social policy via the tax code.  If it's in our best interest to make housing more affordable, then there are way to do it without complicating and distorting the tax laws.  Taxes should be for raising revenue, not dictating behavior.  And yes, I think tax relief is good in any form.  Taxes have never been the problem, spending is.






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