A tax plan that BEGINS straightening out our mess.....
Nov 5, 2017 09:12:02 #
sueyeisert wrote:
This is a tax cut for the wealthy.Just to mention ... (show quote)
Well, I understand your self interests, but the "cuts" do NOT skew to the rich.....you're just plain wrong!
The issues you describe for hedge fund managers is the CURRENT law, so leaving it does not represent a new cut.
If you can get a mortgage greater than five hundred thousand dollars, you are already rich by progressive standards and not getting a cut for a bigger loan is definitely a cut to the rich
The standard deduction gets DOUBLED.
SO, TRY READING THIS VERY BASIC DATA AGAIN......
Cykdelic (a regular here) (online) Joined: Jul 12, 2014 Posts: 5018 Loc: Chiraq & Santa Fe, NM
Note that 71% of tax filers do NOT itemize......these people will have a doubling of their standard deduction which will have a positive effect on any taxes paid, period. There is no discussion on this.
Of the remaining 29% of filers they will have an option of either using the new doubled-standard deduction OR itemizing under the new rules with the new rates (see data, below).
As you can see it is not until the $200-$250 category that the decision to itemize becomes an issue of decisions under the new proposals. Hardly middle class, folks.
Will there be someone out there who can pay more taxes? Of course, especially since it's suspected a large portion of people fudge their taxes.
(Data Based on Preliminary 2014 IRS Statistics)
"Based on the latest IRS statistics, itemized deductions were claimed on only 29 percent of all tax returns filed but represented an estimated 57 percent of the total deductions. The average for total itemized deductions (after limitation) was $26,374, a 3.2-percent increase from the average of $25,568 for 2013.
The following are preliminary figures released by the IRS (their reports lag behind the current tax year because of the time needed to compile figures). These are averages only. The IRS cautions taxpayers that they should not base their claimed deductions on these figures.
The numbers are useful, however, for two purposes:
to see if your actual deduction is out of line (so you can take extra care to document your claim); and
to see if the deductions meet the expectations of policymakers.
Also, note that these averages take into account only those individuals who claimed an itemized deduction for that type of expense. Zero deductions are not factored in. Thus, the “average” taxpayer with adjusted gross income between $50,000 and $100,000 did not take an “average” medical expense deduction of $9,614, only the “average” taxpayer who itemized and claimed a medical expense deduction did."
ADJUSTED GROSS INCOME MEDICAL EXPENSES TAXES INTEREST CHARITABLE CONTRIBUTIONS
under $15,000 $8,787 $3,566 $7,129 $1,427
$15,000 to
$30,000. $8,477 $3,376 $6,619 $2,339
$30,000 to
$50,000. $8,209 $4,098 $6,511 $2,594
$50,000 to
$100,000. $9,614 $6,679 $7,553 $3,147
$100,000 to
$200,000. $11,122 $10,983 $9,147 $4,130
$200,000 to
$250,000. $18,092 $17,763 $11,642 $5,786
$250,000 or more. $36,992 $50,679 $16,982 $21,596
Nov 5, 2017 10:38:17 #
Nah- Your lack of content is disappointing however.
S**tposting is a dead end street.
ken hubert wrote:
Where's your content? Didn't they talk to you about build a substantive life in rehab last month? Bwahahahaha! I'm positive that Trump drives your ass bonkers!
S**tposting is a dead end street.
Nov 5, 2017 10:41:16 #
nakkh wrote:
Nah- Your lack of content is disappointing however. Where's your content? Didn't they talk to you about build a substantive life in rehab last month?
S**tposting is a dead end street.
S**tposting is a dead end street.
Yet you keep doing it!
Nov 5, 2017 10:42:37 #
Well, 10 trillion is bad yes. Is adding 1.5 trillion more good? is not working to close the deficit a core republican value? I thought that it was the most important one. We've tried over and over cutting taxes (Look at Kansas) to boost the economy.
It didn't ever work.
It didn't ever work.
Cykdelic wrote:
Given the last president got 10 trillion over 8 ye... (show quote)
Nov 5, 2017 10:54:11 #
nakkh wrote:
Well, 10 trillion is bad yes. Is adding 1.5 trillion more good? is not working to close the deficit a core republican value? I thought that it was the most important one. We've tried over and over cutting taxes (Look at Kansas) to boost the economy.
It didn't ever work.
It didn't ever work.
Read better.......I refer to the idea that growth will make the 1.5 trillion moot if it gets into the 4s. You're just dead wrong on your statement off tax cuts not boosting economies, but I suspect your a Keynsian, so........
Your example of Kansas is inane given its extremely limited, homogenous economy. Also, again, read better.....I was clear that our elected i***ts always spend the spoils of growth (often on dumbazz things that can't be reversed very easily)
Nov 5, 2017 10:55:45 #
Cykdelic wrote:
Read better.......I refer to the idea that growth will make the 1.5 trillion moot if it gets into the 4s. You're just dead wrong on your statement off tax cuts not boosting economies, but I suspect your a Keynsian, so........
Your example of Kansas is inane given its extremely limited, homogenous economy. Also, again, read better.....I was clear that our elected i***ts always spend the spoils of growth (often on dumbazz things that can't be reversed very easily)
Your example of Kansas is inane given its extremely limited, homogenous economy. Also, again, read better.....I was clear that our elected i***ts always spend the spoils of growth (often on dumbazz things that can't be reversed very easily)
He's always whining about Kansas. They must have thrown him out of there.
Nov 5, 2017 11:01:39 #
Growth never works You can't 'grow your way out of a deficit. That old dog doesn't hunt. We are never gonna see 4% gdp in this country.
Again, look to Kansas.
Why not balance the budget first, THEN cut spending in a way that keeps the budget balanced?
Again, look to Kansas.
Cykdelic wrote:
Read better.......I refer to the idea that growth will make the 1.5 trillion moot if it gets into the 4s. You're just dead wrong on your statement off tax cuts not boosting economies, but I suspect your a Keynsian, so........
Your example of Kansas is inane given its extremely limited, homogenous economy. Also, again, read better.....I was clear that our elected i***ts always spend the spoils of growth (often on dumbazz things that can't be reversed very easily)
Your example of Kansas is inane given its extremely limited, homogenous economy. Also, again, read better.....I was clear that our elected i***ts always spend the spoils of growth (often on dumbazz things that can't be reversed very easily)
Why not balance the budget first, THEN cut spending in a way that keeps the budget balanced?
Nov 5, 2017 11:47:09 #
nakkh wrote:
Growth never works You can't 'grow your way out of a deficit. That old dog doesn't hunt. We are never gonna see 4% gdp in this country.
Again, look to Kansas.
Why not balance the budget first, THEN cut spending in a way that keeps the budget balanced?
Again, look to Kansas.
Why not balance the budget first, THEN cut spending in a way that keeps the budget balanced?
Again......you're wrong, growth works. The problem is our elect d i***ts spending the growth!!!
Funny.........it wasn't too long ago you were saying we are never gonna see 3%growth!
Funnier........you becoming a deficit hawk. Get real, brudda!
Funniest.....balance the budget (without growth implied). Have you even looked at the numbers? At the U. S. Budget? At total federal revenues? At total U.S. AGI?
Nov 5, 2017 11:55:08 #
Cykdelic wrote:
Again......you're wrong, growth works. The problem is our elect d i***ts spending the growth!!!
Funny.........it wasn't too long ago you were saying we are never gonna see 3%growth!
Funnier........you becoming a deficit hawk. Get real, brudda!
Funniest.....balance the budget (without growth implied). Have you even looked at the numbers? At the U. S. Budget? At total federal revenues? At total U.S. AGI?
Funny.........it wasn't too long ago you were saying we are never gonna see 3%growth!
Funnier........you becoming a deficit hawk. Get real, brudda!
Funniest.....balance the budget (without growth implied). Have you even looked at the numbers? At the U. S. Budget? At total federal revenues? At total U.S. AGI?
Keep in mind you are debating macro economics with somebody whose only training on the subject comes from Media Matters.
Nov 5, 2017 12:19:01 #
Great for us! 3% is just about it. 4-4.5 is a fools dream.
Why didn't Kansas thrive after all those fantastic tax cuts?
Funny how nobody want's to talk about Kansas. Kansas is the Republican 'Fight Club'
Nothing funny about that.
California fixed it's deficet problems by removing republicans and raising taxes and cutting costs. Now we are the 2nd strongest economy in the country and at 2.5 trillion GSP the 6th largest economy on earth. Suck on that.
Stupid tax cuts never work. Except for the 1% which you are not one.
Why didn't Kansas thrive after all those fantastic tax cuts?
Funny how nobody want's to talk about Kansas. Kansas is the Republican 'Fight Club'
Nothing funny about that.
Cykdelic wrote:
Again......you're wrong, growth works. The problem is our elect d i***ts spending the growth!!!
Funny.........it wasn't too long ago you were saying we are never gonna see 3%growth!
Funnier........you becoming a deficit hawk. Get real, brudda!
Funniest.....balance the budget (without growth implied). Have you even looked at the numbers? At the U. S. Budget? At total federal revenues? At total U.S. AGI?
Funny.........it wasn't too long ago you were saying we are never gonna see 3%growth!
Funnier........you becoming a deficit hawk. Get real, brudda!
Funniest.....balance the budget (without growth implied). Have you even looked at the numbers? At the U. S. Budget? At total federal revenues? At total U.S. AGI?
California fixed it's deficet problems by removing republicans and raising taxes and cutting costs. Now we are the 2nd strongest economy in the country and at 2.5 trillion GSP the 6th largest economy on earth. Suck on that.
Stupid tax cuts never work. Except for the 1% which you are not one.
Nov 5, 2017 13:04:09 #
nakkh wrote:
Great for us! 3% is just about it. 4-4.5 is a fool... (show quote)
You're still wrong on tax cuts, and your fixation on Kansas highlights your lack of economic sophistication......Kansas is a fairly homogenous economy......so suck in that!
A couple of notes..... Cali economy has been one of the world's largest for a long, long time - nothing new there. Also, Cali's GDP growth dropped in 2016..... way to go, Moonbeam! Finally, decreasing an increase in spending is NOT a decrease! Old math.
[oh...on your last item.....nice try!]
Nov 5, 2017 13:04:32 #
WNYShooter wrote:
Keep in mind you are debating macro economics with somebody whose only training on the subject comes from Media Matters.
Oops! My bad!
Nov 5, 2017 13:43:32 #
Nov 5, 2017 14:20:09 #
Yeah- We were all the way down to 2.9% gdp in 2016 Where was Kansas?
California leads the country because it has Dems in charge. It is every bit as economically diverse as the nation as a whole.
We are winning with democratic leadership. High taxes and lots of regulations haven't hurt but helped California become the
economic powerhouse it is today. The republican tax plan will raise the debt. The republican Healthcare plan will raise your
premiums or eliminate your healthcare all together. The republican President is a Russian stooge. The Republicans are in the
bag for the 1% A club you don't belong to. Someday you'll wake up and realise this. Hopefully.
Oh and the CBO will tell the true tale of the Republican tax plan.
And:
https://www.nbcnews.com/meet-the-press/video/lankford-i-am-a-no-on-taxes-unless-deficit-is-managed-1088936003837
Like all of trumps crappy ideas this one will fail (even though the republicans have all 3 branches of government) like the rest.
California leads the country because it has Dems in charge. It is every bit as economically diverse as the nation as a whole.
We are winning with democratic leadership. High taxes and lots of regulations haven't hurt but helped California become the
economic powerhouse it is today. The republican tax plan will raise the debt. The republican Healthcare plan will raise your
premiums or eliminate your healthcare all together. The republican President is a Russian stooge. The Republicans are in the
bag for the 1% A club you don't belong to. Someday you'll wake up and realise this. Hopefully.
Oh and the CBO will tell the true tale of the Republican tax plan.
And:
https://www.nbcnews.com/meet-the-press/video/lankford-i-am-a-no-on-taxes-unless-deficit-is-managed-1088936003837
Cykdelic wrote:
You're still wrong on tax cuts, and your fixation on Kansas highlights your lack of economic sophistication......Kansas is a fairly homogenous economy......so suck in that!
A couple of notes..... Cali economy has been one of the world's largest for a long, long time - nothing new there. Also, Cali's GDP growth dropped in 2016..... way to go, Moonbeam! Finally, decreasing an increase in spending is NOT a decrease! Old math.
[oh...on your last item.....nice try!]
A couple of notes..... Cali economy has been one of the world's largest for a long, long time - nothing new there. Also, Cali's GDP growth dropped in 2016..... way to go, Moonbeam! Finally, decreasing an increase in spending is NOT a decrease! Old math.
[oh...on your last item.....nice try!]
Like all of trumps crappy ideas this one will fail (even though the republicans have all 3 branches of government) like the rest.
Nov 5, 2017 16:36:57 #
nakkh wrote:
Yeah- We were all the way down to 2.9% gdp in 2016... (show quote)
Again, you're wrong on tax cuts. Your data is missing.
Let's see......yes, that's right.......Cali's GDP growth has dropped. Glad you finally agree with some data.
Now.....please learn to fcuking read!!! I will try for the third time.....KANSAS HAS A BERY HOMOGENOUS ECONOMY SO WHEN THINGS FAIL, THEY FAIL BIG.
Not Cali........KANSAS! Please read and comprehend!
As for Cali, their overall state spending is UP, not down. Again, you're wrong.
Russian stooge? Hey, show us all the pics of trump hugging/mugging with a lad, because they are out there with crooked Hil, and as far as stooges go donut forget Obama and his room to maneuver after his ree******n, Boom!
Again, nice try in the 1% fishing expo. I DO know you're not in it, though.
CBO? Cute outfit with a severely flawed methodology (static, modeled, 10 year fixation, etc)
Perhaps you should try running yourself thru a model.....try this one.......
Taxes - calculator:
https://www.calcxml.com/calculators/trump-tax-reform-calculator;jsessionid=77B186F26CC09C1D939558F765208B3A?skn=#results
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