Post deleted by User.
News From The War On The Poor
News from the war on the poor
I AM NOT EXPLAINING THIS JOKE
Odin.Slore said: »
That is why I favor Trump, I would consider myself "to the right" but I am far from tea party. I like alot of Trumps positions on things like abortion, Immigration and trade. Only downside I would say about him is he needs to release more info, like economic plan etc.
Trump and Cruz both have tax plans out that would make the debt increases attributed to Obama look reasonable.
Asura.Ladyofhonor said: »
Odin.Slore said: »
That is why I favor Trump, I would consider myself "to the right" but I am far from tea party. I like alot of Trumps positions on things like abortion, Immigration and trade. Only downside I would say about him is he needs to release more info, like economic plan etc.
Trump and Cruz both have tax plans out that would make the debt increases attributed to Obama look reasonable.
Butbut trickle-down!
Asura.Ladyofhonor said: »
Odin.Slore said: »
That is why I favor Trump, I would consider myself "to the right" but I am far from tea party. I like alot of Trumps positions on things like abortion, Immigration and trade. Only downside I would say about him is he needs to release more info, like economic plan etc.
Trump and Cruz both have tax plans out that would make the debt increases attributed to Obama look reasonable.
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Probably based on the articles out recently siting the findings of the Tax Policy Center
trump tax plan
the cbs news story biggest winners under trumps plan
trump tax plan
the cbs news story biggest winners under trumps plan
Shiva.Nikolce said: »
Probably based on the articles out recently siting the findings of the Tax Policy Center
trump tax plan
trump tax plan
He also stated a strong reduction of spending, which also affects the deficit.
To contribute one factor in the deficit as the sole instigator is dishonest at best. So, like I said, uneducated opinion.
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Shiva.Nikolce said: »
the cbs news story biggest winners under trumps plan
We pay the most. So, any tax cuts will be felt by the rich a whole lot more than anyone else, especially the poor who pays no income tax period.
That article still doesn't say that the rich also will continue to pay the most tax. Nope, why should it? It's a sensational article for the weak minded to fall for.
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Asura.Kingnobody said: »
uneducated opinion.
well technically that would be an undereducated opinion.
uneducated is as insulting as it is theoretically impossible since they would have had to at least read some information about the topic in order to formulate an opinion.
In this instance it appears to be a classic case of confirmation bias. If you already don't like trump than you are eager to agree with anyone that says his plan is flawed. Even if their analysis is flawed it agrees with your preconceived notion.
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Uh...
At least read the ***first.
Quote:
However, unless it is accompanied by very large spending cuts, it could increase the national debt by
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
Quote:
The fundamental concern the plan poses is that, barring extraordinarily large cuts in government
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
Shiva.Nikolce said: »
Asura.Kingnobody said: »
uneducated opinion.
well technically that would be an undereducated opinion.
uneducated is as insulting as it is theoretically impossible since they would have had to at least read some information about the topic in order to formulate an opinion.
In this instance it appears to be a classic case of confirmation bias. If you already don't like trump than you are eager to agree with anyone that says his plan is flawed. Even if their analysis is flawed it agrees with your preconceived notion.
This needs read with his voice.
Cerberus.Pleebo said: »
Uh...
At least read the ***first.
Quote:
However, unless it is accompanied by very large spending cuts, it could increase the national debt by
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
Quote:
The fundamental concern the plan poses is that, barring extraordinarily large cuts in government
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
Why waste brain cells? It is utter garbage.
Cerberus.Pleebo said: »
At least read the ***first.
no!
I'll read it when they carve it in stone/irs tax code!
any tax plan would have to be refined and revised so that it could be passed by whatever party controls congress at the time. in the unlikely event of a trump presidency the tax proposal would likely be part of an overall spending budget that would then be battled over in the house and senate...
Edit: full disclosure no I won't read it then either. but I will have our accountants read it and then explain to me how it effects our business... >.>
ain't nobody got time for that.gif
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Oh, his tax plan is flawed, but for other reasons besides the revenue reduction.
The standard deduction quadruple increase alone is enough to call it ludicrous. It would completely remove the need to itemize.
Then you have the Pease limitation issue to consider too, like how does that affect it? The whole point in the Pease limitation is to keep the rich from stacking up itemized deductions for tax purposes.
So, will the Pease limitations only affect those who donate? Investment Interest Itemized Deduction is already limited, so is Miscellaneous Itemized Deduction. State Sales/Income Tax and Property Tax deductions are already eating up the standard deduction, and thanks to Obamacare, Medical deductions are already obsolete. The only deduction Pease will affect anymore is Charity, and that will be killed by the quadruple of the standard deduction.
And then, what about Alternative Minimum Tax? Pretty much every itemized deduction is AMT addable. If we increase the standard deduction that pretty much erases itemized, then AMT goes away, except for a few exceptions (Capital Gains and Foreign Income, to name a few).
There are a lot more problems with Trump's tax plan than the popular belief that this will increase the deficit alone.
The standard deduction quadruple increase alone is enough to call it ludicrous. It would completely remove the need to itemize.
Then you have the Pease limitation issue to consider too, like how does that affect it? The whole point in the Pease limitation is to keep the rich from stacking up itemized deductions for tax purposes.
So, will the Pease limitations only affect those who donate? Investment Interest Itemized Deduction is already limited, so is Miscellaneous Itemized Deduction. State Sales/Income Tax and Property Tax deductions are already eating up the standard deduction, and thanks to Obamacare, Medical deductions are already obsolete. The only deduction Pease will affect anymore is Charity, and that will be killed by the quadruple of the standard deduction.
And then, what about Alternative Minimum Tax? Pretty much every itemized deduction is AMT addable. If we increase the standard deduction that pretty much erases itemized, then AMT goes away, except for a few exceptions (Capital Gains and Foreign Income, to name a few).
There are a lot more problems with Trump's tax plan than the popular belief that this will increase the deficit alone.
Cerberus.Pleebo said: »
Uh...
At least read the ***first.
Quote:
However, unless it is accompanied by very large spending cuts, it could increase the national debt by
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
nearly 80 percent of gross domestic product by 2036, offsetting some or all of the incentive effects of the
tax cuts.
Quote:
The fundamental concern the plan poses is that, barring extraordinarily large cuts in government
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
spending or future tax increases, it would yield persistently large, and likely unsustainable,
budget deficits.
Asura.Kingnobody said: »
We pay the most
no we don't.... you need to get a better/more creative tax accountant...
you gotta defer that ***!
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Shiva.Nikolce said: »
no we don't.... you need to get a better/more creative tax accountant...
you gotta defer that ***!
you gotta defer that ***!
Come on Nik, you can do better than that.
Also, now is not the time to defer taxes. Even if Trump does get elected, I highly doubt they will lower the tax rate at all.
Standard Deduction may get a little raise, but that's pretty much it.
Asura.Kingnobody said: »
Also, now is not the time to defer taxes. Even if Trump does get elected, I highly doubt they will lower the tax rate at all.
I disagree, I think anyone but sanders will bump it down a little.
plus I also like to live dangerously...
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Shiva.Nikolce said: »
I disagree, I think anyone but sanders will bump it down a little.
Sanders will bump it up so he can pay for the "free" stuff he promises but won't give.
I highly doubt Congress will go democrat/liberal at all, so, even in the highly unlikely event that Sanders is elected, he still won't get his way due to a Republican Congress. So, either Clinton or Sanders will still want a tax increase but they won't get it.
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Jetackuu said: »
Asura.Ladyofhonor said: »
Odin.Slore said: »
That is why I favor Trump, I would consider myself "to the right" but I am far from tea party. I like alot of Trumps positions on things like abortion, Immigration and trade. Only downside I would say about him is he needs to release more info, like economic plan etc.
Asura.Kingnobody said: »
Shiva.Nikolce said: »
the cbs news story biggest winners under trumps plan
We pay the most. So, any tax cuts will be felt by the rich a whole lot more than anyone else, especially the poor who pays no income tax period.
That article still doesn't say that the rich also will continue to pay the most tax. Nope, why should it? It's a sensational article for the weak minded to fall for.
Phoenix.Xantavia said: »
Obviously, total amount paid is going to be greater for the wealthier. I'm curious as to what percentage of their income they have to pay. If your average joe is paying 20% of his income in taxes, while a rich guy is only paying 10%, it seems disingenuous to complain about him paying more.
From a tax code perspective, it goes the other way. The % goes up with more income, not down. Of course, at higher income levels you can do more (or hire experts who can do more) to move things in a way that you pay less, even from a % angle; I'd be very curious to see what the actual percentages look like.
You'd need to find numbers on total tax burden to get a better picture of how the different brackets compare. Income taxes have a progressive structure where the larger earners pay more in order to balance out the more regressive structure of state and local taxes and their higher relative impact on lower income earners. So looking only at income tax percentages would give a skewed impression of the entire picture.
What everyone forgets is that the President doesn't set tax policy.
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Asura.Kingnobody said: »
Shiva.Nikolce said: »
Probably based on the articles out recently siting the findings of the Tax Policy Center
trump tax plan
trump tax plan
He also stated a strong reduction of spending, which also affects the deficit.
To contribute one factor in the deficit as the sole instigator is dishonest at best. So, like I said, uneducated opinion.
He's going to cut a bunch of stuff? Any idea what he's going to cut to offset such tax cuts? Considering his military claims I don't see him cutting the military. He going to let the old people die by removing SS/Medicare? If you don't touch military/SS/Medicare that means like 70% of the budget isn't being touched. Good luck getting enough cuts out of the remaining 30% to make a difference with massive tax cuts.
He wants to build a wall around America,deport 12 million people and carpet bomb the middle east...
and you're worried about his tax plan.
alllllllllllllllllllllrighty then
and you're worried about his tax plan.
alllllllllllllllllllllrighty then
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Phoenix.Xantavia said: »
Asura.Kingnobody said: »
Shiva.Nikolce said: »
the cbs news story biggest winners under trumps plan
We pay the most. So, any tax cuts will be felt by the rich a whole lot more than anyone else, especially the poor who pays no income tax period.
That article still doesn't say that the rich also will continue to pay the most tax. Nope, why should it? It's a sensational article for the weak minded to fall for.
People seem to think that the super rich get all their money from capital gains, but that's not true. A whole lot of their income is considered ordinary income, unless their income is only from stocks/bonds/capital gains. Not everyone of us is Mitt Romney, who can live off of nothing but dividends.
Hell, I don't work anymore and yet, a good portion (about 70%) of my income is considered ordinary, which means I pay the maximum amount.
Even then, you have to consider AMT too, which brings capital gains tax to 23.8% (20% capital gains plus Obamacare).
The rich, working or not, still pays more in income tax than your average "lower than 50%" person. I hate to break it to you, but it's true, and it's in the code.
CPAs cannot get around that ***, no client is worth losing your license and/or jailtime for.
Asura.Ladyofhonor said: »
He's going to cut a bunch of stuff? Any idea what he's going to cut to offset such tax cuts? Considering his military claims I don't see him cutting the military. He going to let the old people die by removing SS/Medicare? If you don't touch military/SS/Medicare that means like 70% of the budget isn't being touched. Good luck getting enough cuts out of the remaining 30% to make a difference with massive tax cuts.
I'm not defending the guy, but I don't think you can make a undereducated (4 Nik) opinion like you did without considering all the facts.
Also, touching Medicare/Social Security isn't going to kill people. At least, not the way you think it will. Consider this: Charities out there help out the elderly who cannot support themselves quite often. Even support said elderly by paying for their homecare (mind you, they have to go to an assisted home, but it's still better than nothing!) Even Medicare/Medicaid has programs with assisted living for the elderly who's family doesn't give a ***about them. So, should we go after Trump, or should we go after the family members who let their parents in that situation?
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It's 39.6% of your income after you've already made $413k in a year. I feel so sorry for you.
If you think Medicare/Social security is totally unnecessary you simply do not understand the situation a lot of people live in.
If you think Medicare/Social security is totally unnecessary you simply do not understand the situation a lot of people live in.
Asura.Ladyofhonor said: »
It's 39.6% of your income after you've already made $413k in a year. I feel so sorry for you.
I don't mind paying my fair share of my income to help support those who cannot support themselves (like the elderly or disabled), but I don't like it when my fair share is being used to support people with "depression" or being used for studies that doesn't even matter. Like the lifespan of turnips.
Asura.Ladyofhonor said: »
If you think Medicare/Social security is totally unnecessary you simply do not understand the situation a lot of people live in.
I mean, family is supposed to take care of each other, right?
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Asura.Ladyofhonor said: »
He's going to cut a bunch of stuff? Any idea what he's going to cut to offset such tax cuts? Considering his military claims I don't see him cutting the military. He going to let the old people die by removing SS/Medicare?
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