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You know, I was just ready to post a comment I wrote in answer to your other posts. But I guess it's impossible to have a reasonable discussion here.
Calling me a liar (as you've done before) is unacceptable. Just because you have a different opinion is no reason to be rude. So I decided not to participate in this discussion.
I followed it closely and Obama did not want a reduction in taxes, Obama wanted higher taxes. And the only discussion you would accept as reasonable is one where someone is in full agreement with you. That's how the left rolls.
Remember when all the conservatives here went ballistic that Obama was not reducing the deficit fast enough after the biggest economic collapse in decades? Remember that?
Looks like Trump and the GOP are proving once again that the Democrats here were right. When in power the GOP spends like drunken sailors, and don't care about debt. Remember, every year pretty much Democrats lowered the deficit.
And cutting taxes to drive Growth? One word. Kansas.
So once again after this mess is over the Democrats will probably once again be expected to clean up after this, and like a drunken party goer the GOP will complain they arent fixing it fast enough.
Good news for the swamp though, massive profit increases, while government debt piles sky high to pay for it. But good news, the swamp makes money off that debt too.
Seriously, economics says now is the time to pay down the debt so if another recession hits we can spend out of it.
They said the same thing when Bush cut taxes. He cut taxes and fed tax revenue increased because of increased economic activity.
And since when have Democrats been concerned with the national debt or deficits? Not anytime over the last 8 years, that much is certain.
Well when you understand support that the federal government can't pay sanctuary cities for people who shouldn't be here in the first place, then we can talk about higher debt.
Petch, by now I would think you should remember I am not a fan of illegal immigrants.
I am however a fan of the constitution, and you can't force cities and states to enforce federal laws by threatening completely unrelated funding.
Don't confuse the two. Also don't bring that nonsense into a unrelated topic simply to attack me with your nonsense.
Ultimately this will probably help me since they are getting rid of the AMT but we itemize more than 25k in deductions so if we are capped it will probably be a wash. I don't see how the country can afford this.
The cities/states with high property taxes are going to get screwed e.g. Jersey, California, Chicago, Texas
Add NY to your list. My County in ny has the highest property taxes in the country. That deduction really helped a lot of us out. Was just talking outside to my neighbors we are all annoyed!! We all pay 20,000 plus or minus a bit a year in re taxes and that is actually low for our school district (we live in the average area). Not good Trump!
Petch, by now I would think you should remember I am not a fan of illegal immigrants.
I am however a fan of the constitution, and you can't force cities and states to enforce federal laws by threatening completely unrelated funding.
Don't confuse the two. Also don't bring that nonsense into a unrelated topic simply to attack me with your nonsense.
It doesn't matter if you or I are for or against it. The left has no problem paying millions to cities that don't comply with the law, in support of keeping people here who are here illegally and many living off the tax payers dime but then complain about allowing Americans to keep more of their money.
Those welfare dollars no longer being spent will result in fewer jobs (government programs like welfare and infrastructure/jobs bills do more to spur the economy). The savings from the tax rate decrease will just get concentrated in the wealthy's bank account (natural accumulation, most people can only spend so much).
Pretty basic economics.
Quote:
Originally Posted by petch751
Please tell me about S-Corps and how they funnel money?
By the way, I own a successful business that is classified as an S-corp but I want to hear what you know about them.
He's referring to how you can take some of your earnings from the S-Corp as salary and another as something else to reduce some of the taxes on it.
Quote:
Originally Posted by greywar
Remember when all the conservatives here went ballistic that Obama was not reducing the deficit fast enough after the biggest economic collapse in decades? Remember that?
Looks like Trump and the GOP are proving once again that the Democrats here were right. When in power the GOP spends like drunken sailors, and don't care about debt. Remember, every year pretty much Democrats lowered the deficit.
And cutting taxes to drive Growth? One word. Kansas.
So once again after this mess is over the Democrats will probably once again be expected to clean up after this, and like a drunken party goer the GOP will complain they arent fixing it fast enough.
Good news for the swamp though, massive profit increases, while government debt piles sky high to pay for it. But good news, the swamp makes money off that debt too.
Seriously, economics says now is the time to pay down the debt so if another recession hits we can spend out of it.
We don't need to lower the corporate tax rate in this country. They pay less and less as it is. They still should have to pay up though, its the cost of access to this country's markets and use of infrastructure.
However...
Cutting corporate rates on overseas profits would be a great benefit. Or we leave it as it is and that money just stays there...
Cut it to just below what it is domestic and all that money will come back, actually gets taxed at some rate!
It'll be used to either repurchase shares or given as dividends. Taxable event!
That money then gets spent in the economy, causes some business or wage earner to pay taxes on it...
There are two main types of tax deductions: the standard deduction and itemized deductions. You can claim one type of deduction on your tax return, but not both.
Any idiot knows this, unless he or she has never filed an income tax return. There is also a personal exemption.
Quote:
Originally Posted by petch751
I followed it closely and Obama did not want a reduction in taxes, Obama wanted higher taxes. And the only discussion you would accept as reasonable is one where someone is in full agreement with you. That's how the left rolls.
Gee, at least you didn't bring up Hillary!
A "reasonable" discussion is when someone debates an issue without name-calling. Instead of listing examples where the tax code was raised during the Obama administration (and it wasn't) you just wrote "BULL" in bold and red. Then you called me a liar. I'd say "that's how the right rolls" but I have very conservative friends who know how to have a back & forth without coming nasty when they have no facts.
By the way, I am far from liberal when it comes to spending. However, we need taxes to pay for programs I'm not willing to sacrifice. Just look at the states with the lowest property taxes, for example. The education is poor, the crime is high and they get the most Welfare from the government. Nobody wants to pay taxes, but they are necessary to pay for police, firefighters, safe roads & bridges, parks, libraries and other important public resources.
Last edited by justNancy; 04-26-2017 at 05:21 PM..
Too many liberals are freaked out that investors will get most of it. God forbid someone with a 401k has an easier retirement.
And those same people will complain because they are struggling to make ends meet on their small social security check. They're tomorrows poverty cases.
Does any idiot know that high income does not mean you are rich? No they don't. They believed Obama and the Democrats when they lied and told them this.
Any idiot knows this. Gee, at least you didn't bring up Hillary!
A "reasonable" discussion is when someone debates an issue without name-calling. Instead of listing examples where the tax code was raised during the Obama administration (and it wasn't) you just wrote "BULL" in bold and red. Then you called me a liar. I'd say "that's how the right rolls" but I have very conservative friends who know how to have a back & forth without coming nasty when they have no facts.
Does any idiot understand they save LESS than their effective tax rate! Can you imagine being taxed at a 20% effective rate when you can only save 6% of your after tax income? How absurd is that?
Americans and Politicians think short term. The politicians are laughing behind closed doors at the masses for saving so little and paying so much to the government.
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