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The rich (whoever they are) pay the most taxes and hence get the most benefits.
According to a H and R block tax calculator a middle class family with 2 kids no itemized and $75,000 in income pays 3983 in federal income taxes in 2017. That is 5.3%. The same family will pay $1739 next year. That is 2.3%. How much more lower should it be?
It should go to zero IMHO. But I am a libertarian and staunchly against the federal tax system. There are better ways to fund the federal government.
I get a bonus every year plus a raise. It would be nice not to have my bonus taxed at over 40 percent when all said and done. I understand that a bonus is a one time (its yearly here and based on performance as an incentive) plus we get a raise, a small 2.5% raise albeit.
This will be another huge give away to upper management. Once again the govt picking winners and losers. Companies tout the small bonuses but you don’t hear about the huge bonuses execs are getting and no I don’t want them to have that money tax free
If you don't hear about them, how do you know they are getting them?
Don't embarrass yourself by trying to answer that.
Also, those huge bonuses will still be taxed at anything over 2500, correct? So this is really for the "little people" who get small bonuses. It will help them out for sure. If anything the extra money should help with holiday gifts (assuming these are year end bonuses).
Every party has a pooper, and that's why they invited you
If common sense doesn’t let you see this was a pathetic joke by ONE GOPer, I’ll sell you a bridge later
They could barely get through passing the spending budget, if you think the government is even going to waste their breath talking about MORE tax breaks this year. I have another bridge to sell you
So will all bonuses be taxed free including WALL STREET scrubs bonuses and upper management?
It should be based by income limit.
they are limited to $2500, did you even bother to read?
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Originally Posted by natalie469
Bonuses are great, but it's a one time pay. I can't believe how many are giddy over this. The middle class need raises not bonuses.
pay raises are also getting done by the companies.
Quote:
Originally Posted by natalie469
In my husband's previous job he received a $20,000 bonus. Now that's a bonus.....not $500. I'm being a party pooper because this tax plan does more for the rich than the middle class. I know people are grateful for any amount they receive but the middle class should benefit more. We are the backbone of this country.
as i said before, it must be nice living in utopia. not everyone works in middle and upper management, the rank and file are the ones getting the $1000 bonuses. kind of hard on the bottom line if a company, even one as large as AT&T, were to give 200,000 employees a $20,000 bonus dont you think?
https://www.google.com/amp/www.foxne...elosi.amp.html
A Republican lawmaker is set to unveil legislation that would make most bonuses given out as a result of President Trump's tax reform plan tax-free -- and took a jab at House Minority Leader Nancy Pelosi with the bill's name.
Rep. Todd Rokita, R-Ind., has dubbed his bill the "Creating Relief and Useful Middle-Class Benefits and Savings" -- or "CRUMBS" Act. Pelosi, D-Calif., famously referred to the bonuses as "crumbs" in criticizing the tax plan last month.
"Americans are receiving thousands of dollars in bonuses and more money in their paychecks thanks to President Trump's tax reform, but out-of-touch Democratic leaders believe they only amount to crumbs," Rokita said in a statement. "The CRUMBS Act will let Americans keep more of the money they receive as a result of President Trump's tax reform, and allow them, not the government, to choose how best to spend their bonuses
Rokita's bill would make bonuses received by workers in 2018 tax-free up to $2,500. Since tax reform was signed into law this past December, multiple companies have given out bonuses and pay raises in anticipation of increased tax savings.
According to a tally by Americans for Tax Reform, 346 companies have given workers bonuses or raises or increased contributions to employees' 401(k). Those companies include AT&T, which gave $1,000 bonuses to 200,000 employees; automaker Fiat Chrysler, which gave at least 60,000 workers bonuses worth up to $2,000; and moving company U-Haul, where more than 28,000 full and part-time employees received bonuses ranging from $500 to $1,200.
What a DRAMA QUEEN this worthless legislator is. This stunt isn’t going to pass.
My husband has been getting the same kind of hefty bonuses since 2009. Trump has NOTHING to do with it.
What Trump and the GOP are responsible for is the fast approaching INFLATION that’s going to wipe out ANY and ALL gains allegedly made.
Pass the popcorn folks. It is going to get interesting.
Leftists are an angry bunch today. Momma's breasts must be empty.
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