The Republican tax plan will lower real estate prices *merged* (insurance, companies)
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The GOP tax plan is a tax increase for many middle-class and upper middle-class.
And it ADDS to the debt by trillions of dollars and adds to the defiticit.
It's a lose-lose situation for America, unless you're a billionaire.
It's what the people have voted for over many elections. Nothing unusual about getting what you vote for.
What leaves me scratching my head and wondering is why they're trying to pass tax reform behind closed doors without bipartisan support? Why are they trying to rush it through without a CBO score? Maybe it's me but doesn't this seem like the same sketchy pattern used x3 to repeal the ACA? The tax bill is still in the early stages, but, the secretive, underhanded, sketchy way in which it's being formed makes me distrust that this for the good of the American people.
The "crumb" for the middle class is actually the additional tax we must pay to finance the cuts for people like Trump, who is getting a $31 million cut.
Having not seen his tax returns how did you arrive at that number?
It's what the people have voted for over many elections. Nothing unusual about getting what you vote for.
A "tax cut for billionaires" with a "tax increase on many middle-class" was not on the ballot, so it's impossible that people voted for this. Most people don't support this tax plan unless they are billionaires or owners of C-corporations.
I'm really wondering what there is to like about this tax plan. It marginally fiddles with rates and shifts some tax burden around within the middle class and offers substantial tax relief to the wealthy. I suppose a phaseout of SALT may compel some tax reform in NY, NJ, and CA, but is that really such a laudable goal for the party that controls the executive and legislature?
The people who are going to be crushed most by this plan will be small business owners owners and middle-class families in high cost of living states. The main gains will be felt by big business and the most wealthy. And all this while adding $1.5tr to the deficit? I just don't get it.
I would love to see a broad simplification of the tax code, a reduction in marginal rates for businesses while putting special-interest loopholes on the chopping block and/or imposing a business-deduction limit (like an AMT). This plan just seems like a bunch of aimless jiggery-pokery that will benefit those who least need the benefit.
I'm middle class , perhaps upper middle and I don't live in a high COL state and it hits us too. No one seems to notice that a big chunk in the former 33% bracket is moving to the 35% bracket. I don't mind paying s little more in taxes but not to subsidize tax cuts for millionaires and corporations who are already flush with cash and haven't raised wages in years.
I'm really wondering what there is to like about this tax plan. It marginally fiddles with rates and shifts some tax burden around within the middle class and offers substantial tax relief to the wealthy. I suppose a phaseout of SALT may compel some tax reform in NY, NJ, and CA, but is that really such a laudable goal for the party that controls the executive and legislature?
The people who are going to be crushed most by this plan will be small business owners owners and middle-class families in high cost of living states. The main gains will be felt by big business and the most wealthy. And all this while adding $1.5tr to the deficit? I just don't get it.
I would love to see a broad simplification of the tax code, a reduction in marginal rates for businesses while putting special-interest loopholes on the chopping block and/or imposing a business-deduction limit (like an AMT). This plan just seems like a bunch of aimless jiggery-pokery that will benefit those who least need the benefit.
comment section: the rich are the party of the rich...
What leaves me scratching my head and wondering is why they're trying to pass tax reform behind closed doors without bipartisan support? Why are they trying to rush it through without a CBO score? Maybe it's me but doesn't this seem like the same sketchy pattern used x3 to repeal the ACA? The tax bill is still in the early stages, but, the secretive, underhanded, sketchy way in which it's being formed makes me distrust that this for the good of the American people.
A "tax cut for billionaires" with a "tax increase on many middle-class" was not on the ballot, so it's impossible that people voted for this. Most people don't support this tax plan unless they are billionaires or owners of C-corporations.
Rich people and special interests fighting hard against this tax reform bill. Gosh, I wonder why?
Nothing is final yet but I recommend people look at the comparison charts for old and new rates to get a sense of their savings. Make sure you are looking at articles on business websites because they actually understand finance, unlike mainstream media presstitutes.
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