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I pay more in both with this calculator. I pay $58 more on the House and only $8 more on the Senate. That's on a roughly 150K income, older dependents. The new standard deduction and rates simply do not offset the loss of the exemptions and deductions I take.
This calculator also overestimates the amount I pay in state taxes so doesn't get my deductions right or the so-called savings. Assuming it correctly calculates the Trump tax, then I will pay about $1000 more under either plan based on my actual taxes from 2015.
I would advise everyone to compare the amount the calculator says you will pay with what you actually earned and paid in 2015 or 2016 and take the "you saved" number with a grain of salt until you have done that.
You guys are so giddy on how much money you will get back. Yet the chip program will probably cease to exist because republicans say there is no funding for it. 9 million kids losing healthcare while corporations get so many tax breaks. It's heartless.
I agree , it is heartless. And I'm not completely happy with how the corporations are getting breaks. But as far as the CHIP program, it has run out of money. What do you propose ? Print up some more ? Force the corporations to pay for it ? Force us to pay for it ? Hell, my wife and I are having a hard enough time paying for our own healthcare.
The problem is our government (both parties) has allowed the healthcare corporations to get too big by allowing merger after merger, which as caused the prices of care to escalate. I've heard that the profits on these companies are only 4% , which seems fair , but 4% of a multi billion dollar a year company now becomes huge. I just read an article that the CEO of CVS is going to clear 500 million off the merger with Aetna. It's a huge catch 22. These companies have shareholders that want to see profits, yet those same shareholders make up our population. How do we stop it ? I agree, single payer does sound good, but I feel in the end might not be as good as we think.
yup, that sounds about right. I'll get a trivial tax cut of a few thousand dollars, in exchange for $1.5 trillion added to the national debt and the destabilization of Medicare.
I'm glad to see you so concerned about the debt. Considering we've added nearly $10 trillion dollars to the debt over the past 8 years, I'm sure you would support a repeal of one of the main drivers of that-Obamacare. Right? Call your senator.
Congratulations on having an income where a few thousand dollars is trivial to you. Now if you feel guilty about your "trivial" "few thousand dollar" gain in income due to lower taxes-I'm sure you can write a check to the US treasury to make you feel better. On the other hand-I'm sure there are an awful lot of people for whom a few thousand dollars is not trivial.
Also they are trying to limit deductions on houses with loans higher than 500k, you can’t even get a condo in nyc for 500k
Which is far beyond the reach of a middle class person. You mentioned the estate tax. From what I've read, it doesn't start until the estate reaches $5.5 million. Again, seems to effect the rich more than the middle class.
Now I do agree with you, I wanted to see more breaks for small businesses. And only breaks for large corporations that concentrate their operations and profits here in the states.
I'm confused...wasn't Obamacare written to address the health care problem and ensure that every American had health insurance? The Democrats tout it's success and whine and complain about ANY change to that program. Why, exactly, are these other programs even needed if Obamacare is actually doing as Democrats say? Or are you saying Obamacare is a failure and we need some other programs (Medicaid, CHIP, etc) to actually do as it was sold to the American public to do?
I'm glad to see you so concerned about the debt. Considering we've added nearly $10 trillion dollars to the debt over the past 8 years, I'm sure you would support a repeal of one of the main drivers of that-Obamacare. Right?
Fake news. The national debt was driven up primarily by defense spending and two wars.
Quote:
Congratulations on having an income where a few thousand dollars is trivial to you. Now if you feel guilty about your "trivial" "few thousand dollar" gain in income due to lower taxes-I'm sure you can write a check to the US treasury to make you feel better. On the other hand-I'm sure there are an awful lot of people for whom a few thousand dollars is not trivial.
So in other words, all that posturing about "the budget deficit" and "the national debt" from Republicans was just one big lie?
Which is far beyond the reach of a middle class person. You mentioned the estate tax. From what I've read, it doesn't start until the estate reaches $5.5 million. Again, seems to effect the rich more than the middle class.
Now I do agree with you, I wanted to see more breaks for small businesses. And only breaks for large corporations that concentrate their operations and profits here in the states.
Agree the US would be better served if there were pragmatic objectives as the main goal of tax reforms.
As for bold, plans for tax reforms tied to wage increases, creating jobs for American people, 'repatriation' of capital held offshore, closed loopholes, etc. were proposed.
& were quickly dismissed. Some folks feel entitled to the 'No strings attached' approach. After all, that's worked out so well for them for going on 3 or 4 decades now.
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