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If this is a tax cut for the rich, why was Rush Limbaugh complaining about how the rich will pay more? Why are Dem donors howling? At the top rate the total would be 46%. Also let's not forget that the majority of loopholes they use will be closed so they will pay more.
Most people don't itemize so if the standard deduction were doubled, the amount they will pay taxes on will be smaller and that amount will be taxed at a smaller percentage.
Washington Post accused Chuck Schumer of lying when he said the middle class would suffer when it is exactly the opposite. I'm sure someone already pointed that out but it bears repeating.
So much disinformation in here. Now the same predictable posters in here are saying small business will suffer from a Tax reduction from 40% to 25%. I would advise not reading this forum if your looking for facts
You really have to read the plan yourself to form an objective opinion on it and ignore all the noise from people pushing their own agendas. If this was a democrat plan many of the people in here would be praising it.
Here's another hidden gem in the tax bill. This one is for millionaires only so probably does not apply to anyone on the forum, but if you do make over a mill, you are going to pay 39.6% on your first 45K, not 12% like the rest of us. The 12% bracket does not apply for you and you pay the max rate on that.
Here's another hidden gem in the tax bill. This one is for millionaires only so probably does not apply to anyone on the forum, but if you do make over a mill, you are going to pay 39.6% on your first 45K, not 12% like the rest of us. The 12% bracket does not apply for you and you pay the max rate on that.
I agree 100%. And I'm talking about making sure we don't hurt truly small businesses, not the Koch Bros who according to Republican logic is a small business because they have a small number of owners.
the tax code depends on generated taxes from profits.. not the other way around.
Yeah because apparently if you make 150,000 a year you should not have anything to worry about!
You know because after paying all federal, state, social security taxes, health insurance, student loans, living expenses... its so easy to save 140,000 dollars to put down 20% and pay a mortgage on a dinky 700,000 house with 18,000 year taxes. Don't forget if you decide to god forbid have kids (which seem to be taboo to some on here) you have to add daycare at 2,000 per child a month to your bills.
The struggles are real.. pulling in $150K a year.. hahaha..
so if we remove all regulations and let dry cleaners go back to dumping their solvent into the water supply that will make up for their tax increase in this machiavellian tax plan?
When they propose removing regulations to allow this to take place, you'll have a point.. until then its just a meaningless posting as the rest are
Divorced? The tax bill takes away your deduction for alimony.
Isnt what you make before you pay alimony income?
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