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Old 11-02-2017, 06:51 PM
 
69,368 posts, read 63,918,092 times
Reputation: 9383

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Quote:
Originally Posted by subaru5555 View Post
Nice deflection. I acknowledged that you can stimulate the economy by cutting taxes for the non-ultra-wealthy; not that this is a tax cut for anyone but the ultra-wealthy.

Capitalistic free-markets are driven by demand, not supply; the whole "job-creators" argument has no basis in economics. Supply-side econ is a sham.
When people have more money in their pocket, what do they do with it?

How does giving more money to the government, boost the economy and create jobs?
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Old 11-02-2017, 06:54 PM
 
69,368 posts, read 63,918,092 times
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Quote:
Originally Posted by Metsfan53 View Post
You’re literally making no point here. Sure it’s worth less than what it would be if you fixed it up by still rose way faster than wages. A young family with entry point at today’s prices it at a severe disadvantage to you.
Thats not true either. There are lots of entry point homes all across this nation thats far more than economical.

You cant make a blanket statement that its unaffordable all over the country
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Old 11-02-2017, 06:54 PM
DKM
 
Location: California
6,767 posts, read 3,806,116 times
Reputation: 6690
Quote:
Originally Posted by skycaller23 View Post
Care to show the math for this ?
5 exemptions at $4.050 lowers our taxable income by $20,250. Except now it doesn't. A middle class family of 5 living in a 400k house will already be itemizing $24k so they have a net taxable income rise of $20k and 25% of that is 5 freaking grand.
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Old 11-02-2017, 06:55 PM
 
Location: Living rent free in your head
42,758 posts, read 25,996,463 times
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Quote:
Originally Posted by workingclasshero View Post
you would be incorrect

Current law: $85,100 taxable income
Proposed law: 90,000 taxable income

correct up to there


Current law: $180 on the first $18k (10% bracket); 8550 on the second $57k (15% bracket);...2525 on the remaining $10k (25% bracket)----$11255 in federal taxes

Proposed law: first 24k not taxed....24k through 90k 12%...so 66k taxed at 12%.....7920.....total tax owed....7920

3335 LESS in taxes
Magical math on steroids! The current standard deduction and personal exemptions for a married couple are $20,800. ($12,700 + $8100)

And according to this that tax owed with an AGI of $85,000 for a married couple not itemizing in 2017 would be $8,733 not $11,255, and what you forget is that a number of people will be losing important deductions like student loan interest and medical expenses.

Tax Calculator - Estimate Your Tax Refund | Bankrate.com
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Old 11-02-2017, 06:55 PM
DKM
 
Location: California
6,767 posts, read 3,806,116 times
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Quote:
Originally Posted by pghquest View Post
When people have more money in their pocket, what do they do with it?

How does giving more money to the government, boost the economy and create jobs?
How does taking money from working families boost the economy and create jobs? By making us work more to pay the higher tax? How does the GOP expect to survive next year. I can't be the only Republican ready to revolt over this. Now both parties are out to screw us...
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Old 11-02-2017, 06:56 PM
 
69,368 posts, read 63,918,092 times
Reputation: 9383
Quote:
Originally Posted by DKM View Post
5 exemptions at $4.050 lowers our taxable income by $20,250. Except now it doesn't. A middle class family of 5 living in a 400k house will already be itemizing $24k so they have a net taxable income rise of $20k and 25% of that is 5 freaking grand.
There is so much wrong with your posting, I dont even know where to begin.

How about we start with, how much do they make..
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Old 11-02-2017, 06:57 PM
 
Location: Boston
19,954 posts, read 8,852,758 times
Reputation: 18511
how do you give a tax cut to people who pay little to no taxes? Of course rich people will get some relief, that stimulates the economy.
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Old 11-02-2017, 06:57 PM
 
Location: AZ
3,321 posts, read 1,090,383 times
Reputation: 1608
Quote:
Originally Posted by pghquest View Post
When people have more money in their pocket, what do they do with it?

How does giving more money to the government, boost the economy and create jobs?


The population at large (read, hundreds of millions of working-class Americans who generate demand) will spend more money than they save; this is the inverse for the ultra-wealthy.


How does redistributing wealth from the average American to the ultra-wealthy boost the economy and create jobs when said money will never enter the market?


Supply side economics contradicts any models that have ever worked, and i've yet to see a business plan out there that bases hiring on tax cuts. Economically, hiring occurs when the cost of adding one more person to their employ will be less than the added revenue that employee produces.
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Old 11-02-2017, 06:58 PM
 
69,368 posts, read 63,918,092 times
Reputation: 9383
Quote:
Originally Posted by DKM View Post
How does taking money from working families boost the economy and create jobs? By making us work more to pay the higher tax? How does the GOP expect to survive next year. I can't be the only Republican ready to revolt over this. Now both parties are out to screw us...
half the nation pays ZERO taxes, and their expenses gets added to the national debt which is then borrowed, along with carried interest costs, thereby making needed tax revenues even further...

how is pushing the expense down the road NOT screwing you?
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Old 11-02-2017, 07:03 PM
 
7,473 posts, read 3,988,763 times
Reputation: 6462
Quote:
Originally Posted by 2sleepy View Post
Magical math on steroids! The current standard deduction and personal exemptions for a married couple are $20,800. ($12,700 + $8100)

And according to this that tax owed with an AGI of $85,000 for a married couple not itemizing in 2017 would be $8,733 not $11,255, and what you forget is that a number of people will be losing important deductions like student loan interest and medical expenses.

Tax Calculator - Estimate Your Tax Refund | Bankrate.com

The over 65 crowd is really taking it in the A$$..........I got a double exemption for being over 65....Standard deduction of 12,700 plus 3 exemptions for me and wife was 12,075.........so I'm losing.


so a retired married couple would have had 16,200 plus standard of 12700 that equals 28,900....... now its replaced with just 24,000.
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