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I have been watching the news and reading what I can about the proposed tax plans.
The problem I see for my support (or not) is that I can look at the latest and greatest calculators and get many varied answers as to how it affects my family. There is simply no consistency at all.
I see figures ranging from paying some $1500 less to paying some $500 more.
How secretive is this process? The people doing this don't seem to care one way or another whether the public knows in advance.
Seems almost like taxation without representation to me.
you'll have to wait for President Trump to sign it before you can see it. Like we did with Obamacare, that didn't seem to rankle the Democrats so I'm not expecting this to either. They'd be hypocrites to do that.
Details should start to become available around 530 today. From what I heard corporate rate 21%, child tax care credit 1400, no individual mandate on aca, amt remains for individuals but is gone for corporations. I think the sunset on Middle class tax cuts was moved up as well.
I think where they are making a mistake is attaching dollar figures to this. You incomes will go up with COLAs and such over the years and that will in turn require revisiting this mess again.
It seems to me that a flat tax would make more sense, a percentage as such.
Just like with Obamacare the new tax plan will have winners and losers and it is not taxation without representation because we elected these bozos that are pushing for it and the bozos that are doing everything to block it without trying to do anything that would make it better.
And just like Obamacare if the new tax plan does not work for the masses it will be changed and altered over time.
No hidden agenda. It's a gift from the GOP to their billionaire donors. A few of them have even come out and said if they don't get this passed they'll lose their donors.
The new tax plan is not yet released. But, given it is based upon making changes to the current code, there will be winners and losers. Released at 1730 today, votes next week
I guess I should just be grateful that I make enough money in retirement ($70k) to be able to live. The COLAs are not going to keep up with inflation, that's for sure.
In the nearly 25 years since I was forced into early retirement the amount of cash left each month is less and less.
Like they say, death and taxes, it's just a matter of which one comes first.
Just like with Obamacare the new tax plan will have winners and losers and it is not taxation without representation because we elected these bozos that are pushing for it and the bozos that are doing everything to block it without trying to do anything that would make it better.
And just like Obamacare if the new tax plan does not work for the masses it will be changed and altered over time.
This was done behind closed doors and rushed through in a few weeks, the ACA debate was in full view and debated in congress. Experts were called in to testify and the entire process took months. This is being rushed through rapidly and they are making mistakes and changes minute to minute. Why cant we hear Rubio and others in a open hearing in the senate for something as important as tax reform.
The ACA wasn't changed after it was implemented, the only proposal was complete repeal. If this goes through we wont know the impact in 2019 but right now it sure looks rotten.
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