U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 09-29-2017, 09:14 AM
 
Location: Proxima Centauri
4,825 posts, read 1,992,743 times
Reputation: 5269

Advertisements

Quote:
Originally Posted by rjm1cc View Post
I do not know what it is but reducing taxes is a plus. Especially corporations.
Then reduce expenses that do not result in positive results.
Support for the needy should not result in them having a higher standard of living than a tax payer earning the same amount of money and then having to pay taxes that go to the needy.
This tax plan is going to raise the national debt. Have no doubt about that. There's a chance that the national debt could go into melt down. Medicare is the first place to go under the knife after that.

You are delusional if you think that welfare people have it better than you. As far as corporations are concerned, their executives can afford two thousand dollar an hour hookers. These same executives pay $100,000 for a Civil War rifle or $500,000 painting that was done with a paint ball gun. I don't think that they need their taxes lowered.

 
Old 09-29-2017, 09:25 AM
 
Location: Central NY
4,680 posts, read 3,253,088 times
Reputation: 11982
Low income here. Retired. I haven't paid taxes since retired. Still have to file because I live in NY.

I wonder what, if any, change I will see.
 
Old 09-29-2017, 10:40 AM
 
29,784 posts, read 34,885,423 times
Reputation: 11710
Quote:
Originally Posted by Tonyafd View Post
This tax plan is going to raise the national debt. Have no doubt about that. There's a chance that the national debt could go into melt down. Medicare is the first place to go under the knife after that.

You are delusional if you think that welfare people have it better than you. As far as corporations are concerned, their executives can afford two thousand dollar an hour hookers. These same executives pay $100,000 for a Civil War rifle or $500,000 painting that was done with a paint ball gun. I don't think that they need their taxes lowered.
Ummm welfare recipients or others on Medicaid or expanded Medicaid pay how much annually? Pay how much per doctors visit? Have how much of a deductible?

Subsidized housing cost ( if you get in) suburban areas v normal cost etc?
 
Old 09-29-2017, 10:42 AM
JRR
 
Location: Middle Tennessee
3,680 posts, read 2,229,421 times
Reputation: 5235
I want to see where the new brackets would be. Right now income at $96,700 for joint keeps them in the 15% tax bracket. I sure would like to know where the amount is in the proposed plan that would jump the tax from 12% to 25%
 
Old 09-29-2017, 11:09 AM
 
Location: Charleston, SC
1,367 posts, read 768,850 times
Reputation: 2428
If anybody expected anything other than a big Tax Cut for the high earners......they were clearly mistaken.

This Administration is all about lining their own pockets. If, by chance, a few crumbs happen to fall on the ground for the Retiree -- that's purely co-incidental. How these charlatans can state with a straight face, that this is a great day for the "Average american" is high political art. Exhibit A is the way the Secy of Health has abused the travel budget of his Cabinet post (all the while cutting funds for Health Care).
 
Old 09-29-2017, 11:11 AM
 
674 posts, read 840,676 times
Reputation: 1191
Personally, I'm scared.

I also heard my state wants to increase ACA (marketplace) insurance 33%. We already pay $1700 a month. My husband does take on consulting and P/T jobs when offered. I keep telling him to stop. It's not worth it. We could get a subsidy instead. But he feels it's good for him to kerp mentally active.

Middle class these days are truly forgotten.
 
Old 09-29-2017, 11:29 AM
Status: "0-0-2 Game On!" (set 6 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,309 posts, read 15,363,150 times
Reputation: 9493
He can propose whatever he wants - it'll have to go through Congress and there is no way the various Congressional representatives (and the lobbyists who love them) will let their respective financial oxen be gored.
 
Old 09-29-2017, 12:59 PM
 
Location: Forests of Maine
30,691 posts, read 49,476,475 times
Reputation: 19136
I am on a military pension. Our income is less than the 'Standard Deduction + Personal Exemption', so I do not pay income taxes.

It sounds like the Personal Exemption is going away, and the Standard Deduction will be doubling. So I will continue to not pay any income taxes.

Out of long habits, we also file Schedule Cs and Fs with depreciation tables. I am not sure where that is going.
 
Old 09-29-2017, 01:33 PM
 
Location: Florida
4,370 posts, read 3,708,767 times
Reputation: 4111
Quote:
Originally Posted by nalabama View Post
I'm slow. Please explain how doubling the personal exemption will hurt housing market.
You are correct it has no influence on the housing market.

But the idea behind making the tax system simpler is to eliminate the "loop holes" in the tax code. Thus the possible elimination of a deduction for real estate taxes and interests may make the purchase of a house too expensive for some and they will not buy. Thus if you are a home builder you may want the goverment to give your clients a reduction in their taxes over the years so they buy your products. Of course the taxpayers that do not buy the product will have higher taxes to make up .

I think the idea is to have the tax policy relate to raising money and not trying to influence tax payers to take some other action to save on taxes.
 
Old 09-29-2017, 01:39 PM
 
Location: Florida
4,370 posts, read 3,708,767 times
Reputation: 4111
Quote:
Originally Posted by BLS2753 View Post
"Needy" isn't a defined term within the concept of government social programs. Probably the closest to a bottom of the barrel existence, is the Supplemental Security Income program (SSI), which pays a set amount to the disabled who have insufficient SS credits to qualify for regular disability. That amount is currently $735 a month for a single person. Any person working full time is going to take home more money than that. All other programs require the individual to work. I suppose you could make a case for a single parent with several kids, that works a low wage job and receives various government benefits, as having the equivalent income of someone who earns the same amount. But I would wager that such a comparison doesn't provide the single parent with a higher standard of living than the working stiff.

Such archaic thinking, is a throwback to the LBJ Great Society era a half century ago. All these programs have been revised over the years, whereas the mythical bum living high on the hog off government welfare no longer exist. Any who are, are getting money under the table from somewhere else.
All I can say is that it is very difficult attracting low skilled people to entry level jobs that are getting 30 to 40 thousand dollars a year from the goverment.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top