Posted on 09/27/2017 2:58:13 PM PDT by SeekAndFind
“Unified Framework for Fixing Our Broken Tax Code
I want people to pay less in taxes by quadrupling the standard deduction.
You want people to pay more in taxes by ending the standard deduction.
I appreciate it.
Yep. Flyover country should not be subsidizing the state taxes of coastal elites.
removal of a deduction is a tax increase. Got it? Find out what this bill actually says and does it raise revenues at this static level? Washington is never going to help working people. The Elites use your money to keep “poor” from rioting and taking over their mansions .
Do YOU have a mortgage?
I don't, so WHY should YOU get to deduct it?
Do YOU have kids living at home?
I don't, so WHY should YOU get that deduction?
SEE HOW THAT WORKS ?
So you make $150,000 and say $130,000 after deductions you now save 4% of that.
If you are single and make $40,000. Was $6000 + $4000 in deductions to $30,000 and taxed at 10% = $3000.
NOW you get a measly extra $2000 so $28,000 at 12% = 3360.
Trump really wants to tax his base?
What fresh hell is this?
So Trump wants to award the elites that hate his guts - those that are in the new 35% bracket and screw his supporters - now pushed into 12%? I thought he was suppose to be a supreme negotiator?
I’d like to hear what Bannon has to say about it.
Well ya, your proposal means over half the country pays no federal income tax at all. Why would they not vote to increase taxes? No accountability and a majority, you see where I’m going with this?
Why should I have to pay for your kids...since I have to pay for schools when my now grownup progeny NEVER went to public schools of any kind!
You have a mortgage?
I don't...we always have bought an apartment or house with CASH! So just WHY should I have to pay for your dwelling? You should rent or save up, until you can afford to buy something.
And re living somewhere...many people have NO choice where they live, due to family obligation and/or a business relocation.
Yeah, that is BS for sure. Why reward the corporations that hate him anyways?
While it is true that specific taxes are levied for those things, the funds still go into the general fund and are paid out from there.
There’s no special account, investment pool, or anything like that.
If you know something I don’t, I’ll join you in your thoughts there.
Agreed, all deductions should be eliminated and a flat tax imposed.
They neglected to mention that the individual exemption is repealed as well. So every family loses a $4050 per member reduction in their taxable income. For a family of four that more than offsets the increase in the standard deduction.
Yes, don’t want you to disclose your income, but I roughly and quickly calculated a person at $40,000 will pay MORE tax. While the rich get $4000 or more back.
I hope this deal crashed and burns. Can’t see Rand or Cruz standing for it.
True...as we all know, there is NO “lock box”, which means that the new tax revenue is probably NOT going to go for SS nor Medicare.
Oh right, I will amend a previous statement. The upper middle class and rich get a tax cut. The poor get a tax cut (those making more than $6000). And the middle class, lower and mid range get a tax HIKE. That’s draining the swamp for ya.
I believe the 35% group is converted into a 20% group.
If we’re talking about corporate taxes, it’s intended to lower our taxes to comparable or better than other nation’s corporate taxes.
We also want corporations to repatriate funds, and lower tax rates help achieve that.
Then those trillions can be invested here in the U.S., not overseas.
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