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Old 10-14-2017, 10:18 AM
 
Location: North Alabama
776 posts, read 1,852,141 times
Reputation: 746

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Should we start a new thread to talk about the effects of Trump's tax plan on retirees?

 
Old 10-14-2017, 11:28 AM
 
Location: Charleston, SC
1,369 posts, read 772,256 times
Reputation: 2428
I'd suggest waiting until we get a better idea of what the legislation is really going to look like. Congress is already waffling over the State & Local Tax Deductions. The chances of passing anything are slim with such a weak majority. And that balance is likely to change with the mid-term elections.

The Donald is Oh-for-4 on his Campaign Promises. He ran for the highest office in the Free World by promising a Muslim Ban, a Border Wall, Repeal ACA on his first Day, and Tax Reform, er....Relief.

He can't even get the Executive Order thing right.
 
Old 10-14-2017, 01:14 PM
 
29,837 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by FiveLoaves View Post
I'd suggest waiting until we get a better idea of what the legislation is really going to look like. Congress is already waffling over the State & Local Tax Deductions. The chances of passing anything are slim with such a weak majority. And that balance is likely to change with the mid-term elections.

The Donald is Oh-for-4 on his Campaign Promises. He ran for the highest office in the Free World by promising a Muslim Ban, a Border Wall, Repeal ACA on his first Day, and Tax Reform, er....Relief.

He can't even get the Executive Order thing right.
I won’t link in this thread but Howard Fineman has a great piece out and the President is getting a lot done that is going unnoticed.
 
Old 10-14-2017, 01:51 PM
 
Location: North Alabama
776 posts, read 1,852,141 times
Reputation: 746
Don't know how this thread turned into who is smarter/richer than who and discussion of Trump's pluses/minuses.
 
Old 10-14-2017, 02:00 PM
 
Location: Charleston, SC
1,369 posts, read 772,256 times
Reputation: 2428
Mr T--
I just googled a list of Fineman's recent articles in HuffPo. I can't imagine which of those titles you might be referring to.

Was it "The Method to the Moron's Madness" or "Hurricane Donald making Hard Sell on Stability" ??

Are you sure it was Howard Fineman ??
 
Old 10-14-2017, 02:03 PM
 
29,837 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by nalabama View Post
Don't know how this thread turned into who is smarter/richer than who and discussion of Trump's pluses/minuses.
From the thread title on the effect of a tax plan which of course plays out differently depending on income, wealth and sources of income and wealth.

From the thread title about a change in tax plan and how any plan will be subjected to various strategies and advice on how to minimize its impact. Some will be smart savvy enough to figure strategies themselves. Others will be affluent enough to hire someone to do it and unfortunately others will just pay up the full amount not realizing or being able to afford strategies to the contrary. Just like a discussion on taking SS benefits ten years ago or any current discussion on minimizing portfolio retirement and non retirement tax consequences.

Finally the role of the President in this. He is just that the President and the proposal as is came out of the Executive branch and is part of his overall agenda. That for many and any President results in a discussion of their agenda and motivation for designing and pushing it. How creative is he in creating? How strategic is he in moving it forward? What are the chances of passing based on previous initiatives and his displayed leadership. As it moves forward and gets modified what will he insist stays and what new will he allow to be added and finally will he sign.
 
Old 10-14-2017, 02:06 PM
 
29,837 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by FiveLoaves View Post
Mr T--
I just googled a list of Fineman's recent articles in HuffPo. I can't imagine which of those titles you might be referring to.

Was it "The Method to the Moron's Madness" or "Hurricane Donald making Hard Sell on Stability" ??

Are you sure it was Howard Fineman ??
Method to. I will leave it to your intellect in order to stay on topic Just look at judicial appointments. This tax proposal will keep us busy and talking and not paying attention to.
 
Old 10-14-2017, 03:45 PM
 
3,145 posts, read 1,736,721 times
Reputation: 3520
Quote:
Originally Posted by TuborgP View Post
Method to. I will leave it to your intellect in order to stay on topic Just look at judicial appointments. This tax proposal will keep us busy and talking and not paying attention to.
The ramifications of the tax policy needs to be talked about, in fact not enough attention is being paid. Yes in the mean time he is getting a lot of mean things done through EO. There are also several lawsuits being filed, and he is stacking the courts. We just have to hope, and hope is all we seems to have right now, that law and the constitution will prevail. Ugh. What an ugly mess.
 
Old 10-14-2017, 07:29 PM
 
Location: Wisconsin
21,548 posts, read 44,105,067 times
Reputation: 15160
^^ Sadly, ugly mess is an understatement. Trump is uninformed, he is ignorant, he is no more emotionally mature than a 15 year-old, he is unfit for any governmental office of consequence.

Presidents can do a LOT of damage - even without help from Congress. I remember one of the younger Kennedy kids - maybe Bobby Jr. - sixteen years ago cautioning this when Bush II was "elected."

He said "beware" - Presidents have a LOT of power. Yes, there is a LOT of damage being done - even without legislation.

Look at the sh*t that happened after Bush II STOLE from the Treasury to give unneeded tax cuts to the rich - not to mention the Iraq debacle - which nightmare has metastasized throughout the Middle East - consequences for which will never end. The financial collapse - this country has never been the same - and now the displacement of tens of millions in the Middle East - totally changing the fabric of society in Europe and soon to be here.

I've stopped reading the idiot-in-chief's EO's - OR paying attention to the other day-by-day erosion to the foundations of our democracy. This administration is living nightmare which never ends - and it's only been 9 months.
 
Old 10-14-2017, 07:42 PM
 
29,837 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by cb2008 View Post
The ramifications of the tax policy needs to be talked about, in fact not enough attention is being paid. Yes in the mean time he is getting a lot of mean things done through EO. There are also several lawsuits being filed, and he is stacking the courts. We just have to hope, and hope is all we seems to have right now, that law and the constitution will prevail. Ugh. What an ugly mess.
The tax cuts are based on growth that many would say is not realistic. If that growth doesn't occur or we have a recession of any length we have a deficit that blows up. Depending on the party in power at the time Retirees could get hammered as Medicare, SS and Medicaid collapse.
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