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I don’t understand how people are figuring this out. Will someone link a calculator? And how is a standard deduction of 12k or even 24k better than state income tax, real estate tax, mortgage interest, child care, FSA, etc deductions?
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The personal cuts, meagre as they are, are only temporary. The cuts to business taxes are the major ones.
And that is where they need to be to make us competitive again. This will grow the economy, create jobs, and put UPWARD pressure or wages. Wages have been stagnant for decades, and many are also under employed. It can also increase total tax revenue if the economy grows enough. We need to stop the trend of a hollow, U.S. economy.
It’s probably because you were cheating the FEDERAL government $2k each year for years... it’s funny these liberals love the state rights when it comes to their money....
Are you serious with this post? Accusing a poster of cheating on their taxes because they paid less prior to this tax bill?
Quote:
Originally Posted by 1AngryTaxPayer
I thought you lefties just loved taxes? Or was it just taxes shoveled your way? How does that shoe feel on the other foot now.
What I DON'T love is the President LYING about his tax bill. Of course, he probably has NO IDEA what's in it since it is the direct opposite of what he campaigned on.
To get out there and say how there is NOTHING in it that helps him and it's all about the workers is such complete and utter bullshyte.
Remember how he railed against the wall street executives and their rigged system? Looks like they will be keeping more of their money.
But perhaps the clearest explanation of what the tax code can and cannot do for the economy came from NYU finance professor Aswath Damodaran, who told Yahoo Finance in January 2017 that the, “The tax code is a bludgeon. When you change the tax code trying to make companies do the right thing, you almost always have a law of unintended consequences.”
Damodaran added that, “tax codes have never been effective behavior modifiers.” The promise of investment against the reality of investment in a lower-tax environment has so far borne that out.
And that is where they need to be to make us competitive again. This will grow the economy, create jobs, and put UPWARD pressure or wages. Wages have been stagnant for decades, and many are also under employed. It can also increase total tax revenue if the economy grows enough. We need to stop the trend of a hollow, U.S. economy.
Just for ****s and giggles, maybe you can explain how this will grow jobs when unemployment is already at 4.1%. The Dept. of Labor has always considered 4% to be full employment.
Did we just give corporations and very rich people a tax cut and add 1.4T to the deficit for 1/10th of 1% additional employment?
AND increasing the deficit substantially in the process and cutting programs.
More people will be spending more and our deficit is going up.
During a booming economy we are worred about stimulating growth.
Their rationale would be ridiculous even if it were sincere. The economy has been doing well.
But it is not sincere and the explanation for this change is not the real reason, it is an excuse. The donors to the party have been waiting for this payoff for a long time, and they know if they don't get it now they may never get another shot at it in their remaining lifetimes. So the push is on: "damn the torpedoes, full speed ahead!".
They need to grab these fat stewing hens now while they can. The henhouse lock has been busted loose and it will only be that way for a short while ...
Their rationale would be ridiculous even if it were sincere. The economy has been doing well.
But it is not sincere and the explanation for this change is not the real reason, it is an excuse. The donors to the party have been waiting for this payoff for a long time, and they know if they don't get it now they may never get another shot at it in their remaining lifetimes. So the push is on: "damn the torpedoes, full speed ahead!".
They need to grab these fat stewing hens now while they can. The henhouse lock has been busted loose and it will only be that way for a short while ...
Yep. The 1% get fat stewing hens while the rest of us get pigeon. They'll call them "Barn Chickens" and claim that they put a chicken in every pot, come election time.
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