Tax cut and Jobs act released...... Trillions for the super Rich. (conservative, great)

[skycaller23]

Originally Posted by subaru5555

Great advice, but that doesn't change the fact that I can no longer deduct student loan interest payments.

Ok..what got put out was a proposal. No law has been created yet and nothing has been signed by the President.

There's plenty of markups and changes that will be done to this proposal.

Consider yourself lucky that you were able to deduct student loan interest as it got put in by Clinton in 1997. It wasn't always there..got removed by Reagan.

Taxes come and go as well as deductions. You used to be able to deduct all types of interest paid...including CC and car loan interest.

[cheyenne2134]

Originally Posted by subaru5555

Great advice, but that doesn't change the fact that I can no longer deduct student loan interest payments.

The people that love this plan must be either really rich or really poor.

[subaru5555]

Originally Posted by pghquest

Your telling me deductible on student loan payment swings your tax owed to $3700? Really? thats one hell of a debt you have then.. What do ya owe, $18 million?

When did I say that? I didn't program that calculator, those were the results it produced.

[evilcart]

Originally Posted by skycaller23

You should always aim to owe money at tax time and not give Uncle Sam a free loan of your money with no interest for more than a year.

I always aimed for owing 200-300 dollars. That's letting me use all my money and some of Uncle Sam's part for me for over a year

i try to shoot for owing between 5-8%... almost hit 10% once but not yet...

[pghquest]

Originally Posted by subaru5555

We're not talking about Obama. Admit you were wrong.

We're talking about supply side economics, which YOU brought up.. Funny how all of a sudden you dont wanna talk about Obama because it proves you're wrong.

https://www.salon.com/2012/09/11/oba...ply_sider_too/

[subaru5555]

Originally Posted by pghquest

We're talking about supply side economics, which YOU brought up.. Funny how all of a sudden you dont wanna talk about Obama because it proves you're wrong.

https://www.salon.com/2012/09/11/oba...ply_sider_too/

It doesn't prove i'm wrong at all, are you incapable of using logic?

[skycaller23]

Originally Posted by evilcart

i try to shoot for owing between 5-8%... almost hit 10% once but not yet...

You want to stay under the radar of the IRS. Owe too much and you get a nastygram about penalties.

[Mike from back east]

Here's a good article in the NY Times showing, via charts, what the new tax "reform" (using the term loosely) is about.

I think they're rushing it, greatly, and wish for a much longer deliberative process. As it is I oppose anything by any party that raises the national debt. We actually need to raise taxes and balance the budget to stop all this deficit spending, something the my GOP used to be rabid about.

[skycaller23]

Originally Posted by subaru5555

When did I say that? I didn't program that calculator, those were the results it produced.

So you don't know the underlying changes yet just figure that calculator that probably got thrown together in less then 24 hours is correct ?

[pghquest]

Originally Posted by subaru5555

It doesn't prove i'm wrong at all, are you incapable of using logic?

You're the one making the claim I'm wrong.. even though I'm not.. Supply side economics is based on more than just tax cuts.. stimulus packages are also supply side economics..