Tax Increase for 10 million Families

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_Doctor CamNC4Me
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Re: Tax Increase for 10 million Families

Post by _Doctor CamNC4Me »

To be honest, I would've preferred my taxes go up simply because I think passing a $21T debt to our children and their children ad infinitum is immoral and ultimately economically tenuous, at best. If I had my way, I'd lower the 32% threshold for marginal tax rates to ~$110k, and incrementally increase rates topping out at 65-70% on the 1%'ers. I'd also restructure the tax code that governs corporations, that crap is incredibly immoral.

But, I'm not a successful billionaire businessman so what do I know?

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
_Gunnar
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Re: Tax Increase for 10 million Families

Post by _Gunnar »

Doc, that last post makes a whole lot of sense! It helps restore some of my faith in your basic rationality and fair mindedness!
No precept or claim is more likely to be false than one that can only be supported by invoking the claim of Divine authority for it--no matter who or what claims such authority.

“If you make people think they're thinking, they'll love you; but if you really make them think, they'll hate you.”
― Harlan Ellison
_Doctor CamNC4Me
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Re: Tax Increase for 10 million Families

Post by _Doctor CamNC4Me »

Gunnar wrote:Doc, that last post makes a whole lot of sense! It helps restore some of my faith in your basic rationality and fair mindedness!


I'm incredibly rational and super fair minded. I'm the most rational. The best. Some say the best ever. Whatever. But I did go to the best schools. I got the best grades. The top grades. A++, maybe another +. I have the best brain, wouldn't you agree? Some say a genius brain. You can tell because I use the best words. Some say the best words, I don't say that. Never in the history of this board has there been a poster who has used words like I do, a genius. The best genius. Top tier stuff. You're welcome!

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
_Gunnar
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Re: Tax Increase for 10 million Families

Post by _Gunnar »

Doctor CamNC4Me wrote:
Gunnar wrote:Doc, that last post makes a whole lot of sense! It helps restore some of my faith in your basic rationality and fair mindedness!


I'm incredibly rational and super fair minded. I'm the most rational. The best. Some say the best ever. Whatever. But I did go to the best schools. I got the best grades. The top grades. A++, maybe another +. I have the best brain, wouldn't you agree? Some say a genius brain. You can tell because I use the best words. Some say the best words, I don't say that. Never in the history of this board has there been a poster who has used words like I do, a genius. The best genius. Top tier stuff. You're welcome!

- Doc

:lol: :lol: Good parody of Trump! I hope your cheek recovers quickly from having your tongue so forcefully pressed into it!
No precept or claim is more likely to be false than one that can only be supported by invoking the claim of Divine authority for it--no matter who or what claims such authority.

“If you make people think they're thinking, they'll love you; but if you really make them think, they'll hate you.”
― Harlan Ellison
_ajax18
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Re: Tax Increase for 10 million Families

Post by _ajax18 »

We already know this. But the fact that taxes went up significantly under Trump's plan for 10 million working families is proof that you nor Trump care about anyone but the uber wealthy, as they are the only class to even get a "guaranteed" tax cut with Republican tax plans.


I guess I'm the uber wealthy than if you're saying Trump's tax plan only helped the uber wealthy? Hint, I'm not uber wealthy. But I am an S corporation now.

Yes, Trump acts like a vindictive prick and a tyrant for constantly trying to punish his perceived political foes, even the American citizens simply because their state didn't vote for him. But by targeting Blue states he is undoubtedly punishing Republicans who live there as well.


How many Republicans are in these blue states? Aren't you the one who keeps bringing up how large the Democrat margin of victory was in those states?
And when the confederates saw Jackson standing fearless as a stone wall the army of Northern Virginia took courage and drove the federal army off their land.
_Kevin Graham
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Re: Tax Increase for 10 million Families

Post by _Kevin Graham »

ajax18 wrote:
I guess I'm the uber wealthy than if you're saying Trump's tax plan only helped the uber wealthy?


No idiot, I said only the uber wealthy were GUARANTEED a tax cut. We all know you're not wealthy. We all know you're not educated. We all know you think moving out of your redneck state, which you said affected your income, has something to do with Trump's tax cut.

The fact is Trump lied and all your dodging isn't going to change this.
_Brackite
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Re: Tax Increase for 10 million Families

Post by _Brackite »

I don't really agree with the recent tax cuts.
Around 82% of those tax cuts went to the top 1%. The National debt is now at about 22.2 trillion dollars. Link
The National debt has increased by about 11.6% under Trump. And Trump inherited a good economy.

Hannity has constantly bashed Obama about the National debt going up under him. But Obama inherited two wars along with a very bad economy. And deficits ended up decreasing under him.
"And I've said it before, you want to know what Joseph Smith looked like in Nauvoo, just look at Trump." - Fence Sitter
_cinepro
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Re: Tax Increase for 10 million Families

Post by _cinepro »

One of the factors in this is the State-and-Local-Tax (SALT) deduction, where people can deduct their state income tax from their federal income tax. People seem to object to it, but I'd like someone to explain why it is bad.

First, it is capped at $10,000, so you can still deduct up to $10,000 of state taxes. So it's not affecting lower income tax payers.

Second, a deduction is the same thing as a subsidy. So this is a case of tax payers in other low-tax (or no-tax) states subsidizing tax payers in high-tax states. Why is this acceptable?

Living in CA (a very high-tax state), I can only hope that I can make enough that it's a problem for me. But I don't feel I should get a break on my federal taxes (and therefore be subsidized by those in other states) just because I live in a state that has higher tax rates. This levels the playing field for all federal tax payers.
_Some Schmo
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Re: Tax Increase for 10 million Families

Post by _Some Schmo »

ajax18 wrote:Kevin and Schmo do not care any more about working class Americans than I care about people on welfare and disability.

You don't give a crap about people on welfare and disability. I do give a crap about the working class. You wouldn't know that because you suck at reading. You're off in La La Land, pretending you understand why this country is the way it is (not to mention pretending to be a conservative).

Why do you come here and lie? Are you practicing to be mini-trump?
God belief is for people who don't want to live life on the universe's terms.
_honorentheos
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Re: Tax Increase for 10 million Families

Post by _honorentheos »

cinepro wrote:One of the factors in this is the State-and-Local-Tax (SALT) deduction, where people can deduct their state income tax from their federal income tax. People seem to object to it, but I'd like someone to explain why it is bad.

First, it is capped at $10,000, so you can still deduct up to $10,000 of state taxes. So it's not affecting lower income tax payers.

Second, a deduction is the same thing as a subsidy. So this is a case of tax payers in other low-tax (or no-tax) states subsidizing tax payers in high-tax states. Why is this acceptable?

Living in CA (a very high-tax state), I can only hope that I can make enough that it's a problem for me. But I don't feel I should get a break on my federal taxes (and therefore be subsidized by those in other states) just because I live in a state that has higher tax rates. This levels the playing field for all federal tax payers.

That's a reasonable point, cinepro, and one I heard Gary Cohn argue for recently as something that people should give time before judging. Of course, he also suggested it was evidence against the tax reform law being primarily favorable towards wealthy people and corporations but that doesn't pencil out no matter how much one tries to argue the SALT deduction cap only affects the most wealthy, often multiple homeowning blue bloods.
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