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I am insured. I pay for my own insurance. Every penny of it. I will choose my own deductible and cover what I wish to cover. I expect my premium will go down under the Republican plan.
Since I own everything outright and have my own money I have no deductions. Property tax does not concern me; I just write a check once a year. If I need money I sell some stock and pay tax on long term capital gains.
The question is, "Do I like the tax bill"?
And I do.
You are self insured - as in you use ALL of your own money to pay for medical bills as they come up. If you get a $2 million cancer treatment bill, you will sell some stock b/c you have enough invested to cover catastrophic illness, accident, etc...??? Why do you have a premium or deductible if you are self insured? Something is missing here.
Personally this tax cut will be good for my family and I but with the deficit where it stands now (and yes, I know the deficit doubled/nearly doubled under Obama) I think any tax cut is a mistake for the country. I feel that long term, it would be best for the country to reduce spending and the deficit before any tax cuts are approved.
Because California has the highest effective poverty rate in the country. While someone in CA might pay $600k for a little home on a 1/4 acre lot and pay $10k in property taxes and $25k in state income tax....someone in MS might be able to buy a nice rancher on an acre of land for $150k and only pay a few hundred a year in property taxes.
When you aren't living in a location with asinine costs of living and taxes, you can actually afford to pay things like your own health insurance.
ETA, I guess CA is even more idiotic than I thought. I entered 3 bedrooms, 1 acre lot the SF area...zero shown at $900,000.
Well, it isn't so bad-you can get a 1000 SF shack on a 2500 SF lot (they actually measure LOT sizes in SF instead of acres?) for only $650,000. What a GREAT place to live. https://www.zillow.com/homedetails/1...?fullpage=true
what utter rot.
you seem to think that your idea of value is the "correct" model. let me help you with that....
We vote with our wallets, the vote is never ending and very very accurate.
Americans VALUE living on the west coast MORE than they value your "acres".
The wallet is correct you are wrong. The vote cast by the wallet speaks truth.
You are self insured - as in you use ALL of your own money to pay for medical bills as they come up. If you get a $2 million cancer treatment bill, you will sell some stock b/c you have enough invested to cover catastrophic illness, accident, etc...??? Why do you have a premium or deductible if you are self insured? Something is missing here.
The guy you were responding to is just being silly, in order to build a case for ripping off 80% of americans, the poster needs to pretend they magically don't require the support of the greater society. it is the typical libertarian bs.
The guy you were responding to is just being silly, in order to build a case for ripping off 80% of americans, the poster needs to pretend they magically don't require the support of the greater society. it is the typical libertarian bs.
That makes more sense. The wealthy are not going to say they can do their taxes on a postcard. Anyway, people like this sing a different tune when they get sick and need healthcare. Then we will all have to pay for him. Sigh...
I'm not sure it changes. To the best of my knowledge, if you are PR resident you still pay no US Federal Income Tax on money made in PR-so it likely won't impact you at all. It's hard to cut ZERO.
And no, it starts in 2018 (assuming it passes by the end of the year-it is not law yet). Depending on when they get withholding sorted out (based on your W4) I would expect less money to be withheld starting in JA 2018, but honestly am not sure.
I do not live here-- I am working here 60 days - but as things move fast sometimes- I can't catch the latest news all the time,,, thanks
You are self insured - as in you use ALL of your own money to pay for medical bills as they come up. If you get a $2 million cancer treatment bill, you will sell some stock b/c you have enough invested to cover catastrophic illness, accident, etc...??? Why do you have a premium or deductible if you are self insured? Something is missing here.
I am insured.
I am not self insured. I never said I was self insured; you said that.
The GOP tax bill - if passed - means I, as an American, will be free to handle my health care however I want. So if I don't want to buy health insurance I don't have to. And I like that feature of the bill. Even if that feature does not make it through and become law, I will still like the bill.
Adjusted, I make less than 77,400 per year. That means my rate is 15%.
My new rate will be 12% even if I make up to an of adjusted $99,000.
I currently have no deductions. So I take the standard, which is $20,800.
The new standard deduction is $24,000.
It seems pretty simple to me. I know the media is all over the place with all sort of stuff from "tax break for the rich", which I don't care about, to "America will go broke", which I don't believe, and "Jobs will disappear", which I don't understand, and totally unsubstantiated nonsense like "Ripping off 80% of the people".
So I like the GOP bill. Me. I like it.
But I figured as soon as I said I like it, the NeverTrumpers would pile on and do what they always do and make dire predictions that everyone with half a brain rejects.
If you own so much, you ain't going to be using no postcard for your taxes.
You live in Mississippi, yet you have money to pay any medical expenses cash. How is that?
People in silicon valley can't afford to pay all their medical expenses with cash.
I am just a real, real smart dude.
I bet you thought all the smart people lived in California, huh?
Actually, that question should be enshrined as one of the most condescending, uninformed questions ever asked on CD Forum.
It is great. 80 percent of federal tax payers don't itemize so the rise in the standard deduction will really help them. Those high state taxes need to pay their fair share so getting rid of that deduction is fair to everyone.
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