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I think the point is you and I will save $20. The rich will save tens of thousands. This was heavily stilted towards the rich. If you're satisfied with saving a few bucks a week, while people who live in 7,000 square foot homes save tens of thousands, then you absolutely should support this new tax law.
You must be one of the 47% if you're only going to save $20, or maybe you're a Pelosi fan who thinks people saving thousands of dollars a year are "crumbs".
The tax cuts primarily benefit the rich. 90% of people probably will see a decrease. For those who don't earn as much the decrease might be $10, but it's still technically a decrease.
For those of us in high tax states, we may very well have to pay more when we file our taxes because SALT is limited to $10K, and the increase in the personal exemption won't be enough to offset that.
Also, the tax cuts on personal income sunset after a few years while the corporate cuts are permanent. So if you paid attention to what was said on stations like CNN, that's what they were talking about.
But hey, this is the country that elected trump. So people are probably stupid enough to be happy with an extra thousand a year to keep voting GOP. And when their taxes do increase because of the way the GOP wrote this bill, they'll find a way to blame Obama.
This tax bill is such a joke. All these stories people post of companies giving bonuses to employees because of these new tax cuts is just a way to get people to think its a wonderful thing.
It’s not. Those headlines about Walmart giving employees $1000 bonuses didn’t show that you had to be an employee for 20+ years to qualify for it. The turn over rate at Walmart is ridiculous so how many employees actually received that $1000 bonus?
You realize that this story is from Oct 2016 before even the election? What does it have to do with the tax plan passed in Dec 2017? Your other links are biased liberal opinions from websites who always say the same thing.
And since my sources are from "biased liberal websites" could you please post a link to a reliable source showing the distribution of Trumps tax cuts.
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As far as your mish mosh of links. One link says the deficit will grow $2 trillion. Another says the GOP will cut $3 trillion in benefits. If all that was true there would be a surplus.
I am trying to think back to the Obama years and any tax cuts at all the benefited the working or middle class. 8 years of democrat rule and nothing at all happened.
The Obama stimulus gave $237 billion in tax cuts and credits to working and middle class Americans. Like a "New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010" and a "Expansion of child tax credit: A $1,000 credit to more families" ex.ex. https://en.wikipedia.org/wiki/Americ...nt_Act_of_2009
And Obama tried to give the middle class tax cuts but republicans in congress blocked it (because Obama's tax plan did not include tax cuts for the richest 1% of Americans.) https://www.cbsnews.com/news/gop-sen...-middle-class/
And Obama also tried to do the following things for workers and middle class Americans. Like raise the min wage, give small businesses tax cuts, give small businesses lending aid, lower credit card interest rates, lower student loan interest rates, give workers longer unemployment benefits, stop millions of Americans from loosing their homes from bank foreclosures, and end tax breaks for outsourcing potentially bringing millions of high paying jobs back to America (but republicans in congress stopped all those laws from passing.)
And Obama extended 82% of the Bush tax cuts (for working and middle class Americans) in a budget deal with republicans. And that action caused $2.7 trillion dollars to be added to our national debt from 2013-2022. https://www.cbpp.org/research/budget...bushs-tax-cuts
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Again, what did the dem's do for 8 years besides double the debt which the working and middle class will have to pay for eventually?
About 50% of the national debt growth that occurred while Obama was in office was caused by policies from GW Bush, like the Iraq and Afghanistan wars, Bush-era tax cuts, and bailouts. The other 25% of national debt growth that occurred while Obama was in office was caused by a economic downturn that occurred while GW Bush was in office. https://www.cbpp.org/research/econom...large-deficits
90% Of Workers Likely To See More Money In Paycheck Next Month
I am one of the unfortunate 10% who will see a tax hike, and it won't be a small one.
As for the rest, it would be a good idea to put the money in savings and wait until you do your 2018 taxes, and see how the changes in deductions etc impact the whole picture.
But Pelosi reminded us that it's only crumbs.......
Oh, and thousands will die from the tax bill.....
I don't remember her saying that but yeah, that is a possibility.
The extra money you get is a pittance, but the extra money the higher brackets get is significant and will put programs like Medicaid in jeopardy. Now that the federal budget is way out of whack Paul Ryan wants to go after social safety net programs to bring the budget closer into line with revenues.
So yes, granny could die from lack of care over this.
Actions speak louder than words...they don't support a tax cut for 90% of Americans...so who are they supporting? Tax dodgers? People who don't pay tax or the wealthy? There was news about people prepaying their property taxes...must be nice to have a year's worth of property tax laying around in my savings account. Pelosi described the bonuses announced recently as Crumbs...out of touch. So a new bill is introduced to make the cuts permanent, but need 60 votes. Let's see what they do or how they justify voting no again
I don't remember her saying that but yeah, that is a possibility.
The extra money you get is a pittance, but the extra money the higher brackets get is significant and will put programs like Medicaid in jeopardy. Now that the federal budget is way out of whack Paul Ryan wants to go after social safety net programs to bring the budget closer into line with revenues.
So yes, granny could die from lack of care over this.
Just of few links..googe is full of many more if you care to search.
Wouldn't it make sense that the more money you make the better this tax cut is for you ?
10% of $1000 is a lot more than 10% of $10.
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