How the GOP Tax Plan Could Affect You: Who would benefit most and who would pay more

Consumer Reports ^ | 09/27/2017 | By Tobie Stanger

[DoughtyOne]

I’m not in favor of any group being taxed more.

The goal is to free up money to be invested in, and spur the economy.

The idea is to broaden the tax base and massively increase the federal tax receipts.

We are $20 trillion in debt. This means we are still going to have to facilitate the movement of cash from private entities to the federal government.

I think there are better ways out there to facilitate this, than using the IRS. The IRS is corrupt. It does need to go.

I am hoping to revisit these things when we have a more Conservative leadership in Congress. If we don’t get one, no president will be able to achieve what we want.

For now I think we’re in a position of having to take what we can get.

We are either going to have to back whatever we can get, or we will accomplish absolutely nothing under Trump.

I want the goals 100% attained too.

I still see 20% attainment to be moving toward that 100%.

If we reject this 20% improvement (or whatever the actual figure might turn out to be), then we remain at 0% of attaining our goal.

[Sacajaweau]

I’m seeing single and married. I’d like to see tables with 3 children etc.

[SeekAndFind]

RE: I’m not in favor of any group being taxed more.

We who live in high tax, high property taxed states ( yours truly in New York ) are royally screwed big league.

They used to be deductible at the Federal Level, not in this tax plan.

[ProtectOurFreedom]

"it never says how we're going to pay for it." says Howard Gleckman, senior fellow at the Tax Policy Center, a think tank sponsored by the Brookings Institution and Urban Institute in Washington, D.C.

Let me give you a clue, you pointy-headed liberal jerk. "YOU" aren't going to pay for a damn thing. All the paying falls on us poor schlubs. All the time. If you want to balance the budget like we all do at home, cut your damn spending.

[A. Morgan]

We need to GROW the economy!

[Jim W N]

I smell a rat.

Every time the GOP comes up with their “alternative” I smell a rat.

GO WITH TRUMP’S PLAN!!!!

[DoughtyOne]

Those who think the rich should pay more taxes, fail to understand this.

We want to increase funds in the private sector.

If we increase taxes by 10% on the wealthy, we offset a large portion of new funds in the private sector.

If the 1% of the wealthy pay 50% of all taxes, that means taxes are raised on that 50% of all taxes.

This offsets the increases of private sector funds in the middle income group.

We cannot be baited into raised taxes to offset tax cuts.

We’d wind up with no stimulus at all.

[rockinqsranch]

I smell the scent of a leftist brain fart in this article.

[JoSixChip]

They used to be deductible at the Federal Level, not in this tax plan.

Nor should they. It basically amounts to redistribution from mid America to the coasts.

[DoughtyOne]

That may be true, and if it is, that should be changed.

I also see a problem with a 20% max for corporate taxes, and a higher 25% top on small businesses (private returns).

Small business are the backbone of our nation, not corporations.

I want both cut equally. Make them both 20%.

[Architect of Avalon]

The standard deduction should be quadrupled.

[nopardons]

Exactly so and I, for one ( though I am all for killing the damned DEATH TAX !), hopes that this fails!

The taking away the state & local tax deductions raises my taxes a LOT! And this is "fair"/right....WHY?

I don't have any young children, I don't have a mortgage, so basically I don't get ANYTHING AT ALL from this supposed "tax cut", which is a TAX INCREASE for many like me.

[eyeamok]

If GOD only wants 10%, why should Government get more??

[Architect of Avalon]

The tax code should not favor big corporations over small businesses.

[DoughtyOne]

Exactly! And why?

Because it is undeniable, that if our tax receipts double, we immediately flip to positive cash flow.

Immediately SS is funded. Immediately Medicare is funded.

Immediately we start reducing the debt.

Immediately we have funds to improve the military without going into debt.

It also provides some breathing room to revamp SS and Medicare.

When I say that, it must be done on out into the future, but it could start now. We need to start that effort.

[DoughtyOne]

We agree on that Architect of Paradise.

[SoCalConservative]

Completely agree! What a great post!

[nopardons]

WRONG!

SS and Medicare is paid with different taxes and there's NO mention of raising taxes re SS nor Medicare!

[JoSixChip]

The standard deduction should be quadrupled.

I disagree, it should be eliminated entirely. Everyone should have to contribute something. Those who pay nothing have no problem raising taxes, 20% increase of zero is zero. Make them have skin in the game too.