Calaculator based off the new tax plan (employment, Congress, Pelosi)

[greywar]

And for the little bit I would gain, we will add 1.5 trillion to our debt..... in fact we will add more to the debt per person then I would gain.

This is foolishness.

[Finn_Jarber]

Originally Posted by Loveshiscountry

Prove it

I have proven it on four separate threads. We (S-Corps) will be forced to take 70% of income as salary, which means the 15% payroll tax will be applied to a MUCH larger portion of the income than before. 15% on an additional 50K as salary = $7000 tax hike.

[Valhallian]

I suspect that my wife and I will probably benefit, as we don't itemize deductions. We definitely benefit according to this calculator, don't know how legit it is or not.

[Rufus Clay Banger]

We will save $2,108. I'll take it!

[phma]

Originally Posted by PCALMike

And how will it be paid for? By slashing your Medicaid, Medicare and Social Security.

I don't have two of the three and the one I do have is so small I would hardly miss it.

I hit the lottery with this tax deal !!!

[Finn_Jarber]

Originally Posted by PCALMike

Especially this Fox News calculator.

Its from FOX....... So, there is a 500 page brand new bill with thousands of clauses, and someone from FOX whips together a calculator which asks for 2 pieces of information and then figures everything out

[Rufus Clay Banger]

Originally Posted by greywar

And for the little bit I would gain, we will add 1.5 trillion to our debt..... in fact we will add more to the debt per person then I would gain.

This is foolishness.

There is ZERO way for you or anyone to determine the effect on the budget from a tax law that has not been implemented and has a 10 year horizon. You have ZERO idea what impact the 21% corporate tax bracket or the 100% depreciation expense deduction will have on the purchase of machinery, hiring, and business expansion. You are merely regurgitating talking points fed to you by your liberal misers who FEAR the positives this bill bestows on the gears of our economy, and the defeat of their political ideology.

[greywar]

Originally Posted by Rufus Clay Banger

We will save $2,108. I'll take it!

And we will add more then that per person to the national debt. Something that eventually you and I will have to pay down.

[Dbones]

Originally Posted by greywar

And for the little bit I would gain, we will add 1.5 trillion to our debt..... in fact we will add more to the debt per person then I would gain.

This is foolishness.

lol...What is the debt ratio for you since Obama added 10T?

[greywar]

Originally Posted by Rufus Clay Banger

There is ZERO way for you or anyone to determine the effect on the budget from a tax law that has not been implemented and has a 10 year horizon. You have ZERO idea what impact the 21% corporate tax bracket or the 100% depreciation expense deduction will have on the purchase of machinery, hiring, and business expansion. You are merely regurgitating talking points fed to you by your liberal misers who FEAR the positives this bill bestows on the gears of our economy, and the defeat of their political ideology.

We know 1.5 trillion in additional debt. Thats a fact that the GOP has repeatedly stated.

And we have a TON of examples of history demonstrating what will happen, along with 98% of economists saying it will not pay for itself.

Your argument that there is zero way for anyone to determine the effects is just nonsense.