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Old 11-27-2017, 06:00 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254

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Quote:
Originally Posted by PedroMartinez View Post
I'm not rich, so I'm not paying a ridiculous amount.

I am paying too much, and the absolute best tax attorney there is cant stop that without committing fraud.
cool story, sounds more like you just don't want to pay any taxes at all.


guess what Pedro, the rich don't pay a ridiculous amount. Try looking up effective tax rates and you will see what they actually pay in real life. as opposed to the drama queen lies told on FOX.

maybe this could get you started...

https://www.irs.gov/pub/irs-soi/soi-a-ints-id1506.pdf

but take your time, don't rush to conclusions , actually parse it instead of scanning it.
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Old 11-27-2017, 06:03 PM
 
1,494 posts, read 417,361 times
Reputation: 864
Quote:
Originally Posted by nicet4 View Post
Good.

Why should someone in California purchasing a $2 million dollar home get a huge write off while someone like me could purchase the exact same home in Flyoverville for $150k only to end up with a much, much smaller write off insuring I would be paying higher taxes?

Can you explain to me where the fairness you speak of so often is in this scenario?
You both get the same mortgage deduction. I do not believe you can declare all the interest on the $2m mortgage. I do support a cap on mortgage interest, it is about the only break the middle class gets.
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Old 11-27-2017, 06:04 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254
It is the middle class salaried taxpayers that get hit the hardest. Trump's plan does nothing to help them and instead pushes money up to the 00.1%
Those who have diverse incomes can often avail of work arounds, loopholes, and deductions that that the average american employee could only dream of.

Buffet is hardly making it up...


Quote:

The Buffett rule

The so-called Buffett rule refers to billionaire investor Warren Buffett. In 2011, he famously pronounced that he paid only 17.4 percent of his taxable income in federal income taxes, a lower percentage than any of his 20 employees. He proposed that federal tax rates be raised for taxpayers making more than $1 million.

Obama took note of Buffett's comments in his 2012 State of the Union speech. Later that year Baldwin and Whitehouse introduced legislation that included the so-called Buffett rule:

Middle class pays higher tax rates than millionaires, Sen. Tammy Baldwin says | PolitiFact Wisconsin
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Old 11-27-2017, 06:05 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254
Quote:
Originally Posted by Jstarling View Post
You both get the same mortgage deduction. I do not believe you can declare all the interest on the $2m mortgage. I do support a cap on mortgage interest, it is about the only break the middle class gets.
pretty sure there has been a 1M / 500k cap for many years.
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Old 11-27-2017, 06:34 PM
 
Location: Long Island, NY
19,718 posts, read 11,586,367 times
Reputation: 5614
Quote:
Originally Posted by Kracer View Post
CBO is charged with garbage in garbage out, meaning they do not question the numbers they get, they just run them, errors, false assumptions and all.... that's why the CBO is frequently far off base in its results.
Please provide examples.

CBO’s Obamacare Predictions were very close, with lots of unknowns. So, please show us where CBO is frequently far off base in its results?
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Old 11-27-2017, 07:00 PM
 
Location: Long Island, NY
19,718 posts, read 11,586,367 times
Reputation: 5614
The reality is that the CBO stores of tax bills have always been accurate. Proponents of the bills attack the CBO because they do not like inconvenient facts.

More importantly than getting intentionally sidetracked about the accuracy of the CBO, which really shouldn't be questioned, is what the CBO confirms what other non-partisan analysis state.


Wonkblog
Senate GOP tax bill hurts the poor more than originally thought, CBO finds


CBO: Senate tax plan would increase deficit by $1.4T over 10 years
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Old 11-27-2017, 07:27 PM
 
15,436 posts, read 4,081,982 times
Reputation: 11136
Quote:
Originally Posted by ColoradoOnMyMind View Post
Pretty sure I'm not a globalist, just a middle class individual that would see higher take home pay under this plan
And would you give us your great wisdom on how the 20+ Trillion debt is going to be reduced or how the budget will be balanced? We need these things if we want to build the country.

If all we need is a bigger 4K TV for you...well, the point is different.
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Old 11-27-2017, 07:54 PM
 
29,562 posts, read 15,499,766 times
Reputation: 20090
Quote:
Originally Posted by evilcart View Post
cool story, sounds more like you just don't want to pay any taxes at all.


guess what Pedro, the rich don't pay a ridiculous amount. Try looking up effective tax rates and you will see what they actually pay in real life. as opposed to the drama queen lies told on FOX.

maybe this could get you started...

https://www.irs.gov/pub/irs-soi/soi-a-ints-id1506.pdf

but take your time, don't rush to conclusions , actually parse it instead of scanning it.
You must have failed math.

Which is more money $10,000,000 or $50,000?
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Old 11-27-2017, 08:06 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254
Quote:
Originally Posted by PedroMartinez View Post
You must have failed math.

Which is more money $10,000,000 or $50,000?
meaningless tat pedro. but i get it. You tried to talk big and cut down by a number of posters so rather than learn anything new you went the route of personal attack. good for you , you sure showed me.


now back to the point. Did you bother to read it and if so please show me where i am wrong?
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Old 11-28-2017, 03:30 AM
 
38,321 posts, read 14,990,940 times
Reputation: 24731


Seems some senators are having their doubts about this Tax Cuts for the Rich bill.
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