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Old 11-27-2017, 12:15 PM
 
4,922 posts, read 1,835,895 times
Reputation: 4657

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This tax cut plan is mainly for big corporations and the very wealthy. Many of the middle class will get screwed with the reduction of deductions for mortgages, state taxes, and education expenses. The Republican Party is working for the behalf of its money benefactors and sending a big F U to the rest of America.
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Old 11-27-2017, 12:20 PM
 
Location: Crooklyn, New York
28,266 posts, read 26,247,479 times
Reputation: 11726
Is there any value in what "experts" have to say?
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Old 11-27-2017, 12:22 PM
 
Location: Palo Alto
12,172 posts, read 7,043,802 times
Reputation: 4175
Quote:
Originally Posted by Ted Bear View Post
I ran a very middle class tax calculation. Average homeowner couple making $110,000 joint income with a (former) write-off of real estate taxes will have about a $2,000 Tax INCREASE if this plan goes through.

What amount of real estate taxes?
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Old 11-27-2017, 12:24 PM
 
Location: Palo Alto
12,172 posts, read 7,043,802 times
Reputation: 4175
I’m curious how the initial CBO calculations for the ACA compare to the actuals we’ve seen so far.

Wait, I already know. They suck at projections.
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Old 11-27-2017, 12:26 PM
 
Location: Little Rock, AR
2,995 posts, read 924,149 times
Reputation: 1864
I can't believe some of the pollls I'm seeing showing a majority disapproval of the plan. These people are against keeping more money in their pocket, essentially open to giving the government more money to waste with a smile on their face. Republicans are doing a terrible job with messaging but overall it's shaping up to be a great bill.

I've always predicted Flake, Corker and McCain to team up to derail the trump agenda, it doesn't have to be those exact 3 but my money is on Republicans obstructing it to spite Trump. We'll know by weeks end.
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Old 11-27-2017, 12:28 PM
 
Location: NC
5,119 posts, read 1,823,397 times
Reputation: 2374
CBO? you mean that partisan group that said ACA was going to lower premiums for most??
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Old 11-27-2017, 12:28 PM
 
9,893 posts, read 3,275,730 times
Reputation: 7254
Quote:
Originally Posted by DRob4JC View Post
I haven't followed this specific tax plan... but have a few comments on the OP.

1- People are not enriched by tax policy allowing them to keep more of their money. They are rich already.

2- Are spending cuts mentioned? When do we address this?

3- Because of the progressive tax system, you can't solely benefit the middle class without benefiting the upper class.

4- The top 20% of wage earners pay 95% of the taxes. How do the rich NOT benefit from tax reform when they are the ones paying the taxes?

Where is a good (hopefully non-partisan) write-up of the current plan?
1 yep they are. reducing tax rates on income increases my profit retention.

2 I suggest you read it, it is all there, but the short answer is spending in not being addressed in a meaningful way, other than setting up to attack spending a year or two down the road when tax revenues fall.

3 wrong. it is simple math to target any one section while mitigating it's impact elsewhere, simple example decreases taxes on income under 100k while increasing it the same amount on income over 200k or 300k . so you are plainly wrong

4 easy reform does not equal reduction, you made a logic error. and you can reform taxes in many ways that are revenue neutral or not. your point makes zero sense.

CBO is non partisan and has always been considered non partisan even by the Rs until jan 20th 2017. when it was clear they needed to attack it in order to dispute it's scores for ACA and later taxes..
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Old 11-27-2017, 12:28 PM
 
Location: Crooklyn, New York
28,266 posts, read 26,247,479 times
Reputation: 11726
Quote:
Originally Posted by TrapperJohn View Post
Im curious how the initial CBO calculations for the ACA compare to the actuals weve seen so far.

Wait, I already know. They suck at projections.
Why take it from the CBO when you can take it from Steve Bannon and Breitbart? Or the 60 economist on the Chicago Booth School of Business panel who agree that the bill will generate virtually zero economic growth but increase the budget deficit.
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Old 11-27-2017, 12:30 PM
 
Location: By the sea, by the sea, by the beautiful sea
58,182 posts, read 40,994,056 times
Reputation: 29918
Quote:
Originally Posted by Ted Bear View Post
I ran a very middle class tax calculation. Average homeowner couple making $110,000 joint income with a (former) write-off of real estate taxes will have about a $2,000 Tax INCREASE if this plan goes through.

But won't you feel like a real patriot contributing to things like spending million$ to close a Syrian runway for a few hours?
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Old 11-27-2017, 12:30 PM
 
9,893 posts, read 3,275,730 times
Reputation: 7254
Quote:
Originally Posted by tripleh View Post
CBO? you mean that partisan group that said ACA was going to lower premiums for most??
MADE up bull. last year and since it was founded the Rs fully backed the CBO. It is only now Rs and Trumpers dispute the CBO, and only because they are trying to pull the wool over the eyes of their own supporters.
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