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Good, you're another one adding to the deficit, aka stealing from the Treasury, because of this criminal tax reform.
Sounds like you don't itemize and don't benefit from personal exemptions. The reform can work out if you're not paying high state and local taxes.
In the end, the taxpayer - that means all of YOU - have to pay this back.
There is no free lunch.
For better or worse we as a nation have overspent relative to tax revenue so badly for the last 20 years (fault of both parties, Bush, Obama, and Trump all made things worse) that our government debt is now greater than our GDP. Historically if you look at countries with debt that has gotten that high, you see few cases of actually paying that down (Canada, Netherlands, Australia), a bunch of defaults (outright and inflationary), and a bunch of cases yet to play out fully (now including us).
I would not bet even money that this gets paid back over our lifetime - much more likely the debt either remains or gets defaulted on either explicitly or through inflation.
For better or worse we as a nation have overspent relative to tax revenue so badly for the last 20 years (fault of both parties, Bush, Obama, and Trump all made things worse) that our government debt is now greater than our GDP. Historically if you look at countries with debt that has gotten that high, you see few cases of actually paying that down (Canada, Netherlands, Australia), a bunch of defaults (outright and inflationary), and a bunch of cases yet to play out fully (now including us).
I would not bet even money that this gets paid back over our lifetime - much more likely the debt either remains or gets defaulted on either explicitly or through inflation.
Much of Obamas deficit and debt was inherited from the last administration who handed him the worst economy in generations.
He wasn't irresponsible enough to pass a tax cut he couldn't pay for like the current moron in chief who had created trillion dollar deficits annually during a supposed economic boom
Trump quite clearly said wages were too high before the election. Yet, many of you all were gullible enough to fall hook, line and sinker to vote for him, an outright shameless con man. So, now for your wages being too high, many of you have to pay higher taxes. At least I wasn't dumb and gullible enough to vote for Trump.
By the way, why should blue states have to pay higher taxes when Republicans there are having to pay higher taxes as well?
Last edited by StillwaterTownie; 02-06-2019 at 12:20 AM..
I heard this is hurting some of the middle income earners. Wonder how the more wealthy (or at least well off) ones, especially in Californians are going to make out. A good majority hate the guy so now I'm curious if they're going to be better off with the Trump's tax plan.
I heard this is hurting some of the middle income earners. Wonder how the more wealthy (or at least well off) ones, especially in Californians are going to make out. A good majority hate the guy so now I'm curious if they're going to be better off with the Trump's tax plan.
In blue states? Break even if not a homeowner. Hurt if in the lower end of the upper middle-class if a homeowner, break even after AMT in the upper end of the upper middle class. At least according to the anecdotes I've heard, welcome to changing my mind if someone wants to dig up and link data.
The tax plan was seriously partisan based on geography. SALT cap was a middle finger to middle and upper-middle income blue state residents. Lots of angry blue state Republicans, only surprise is these people took so long to figure it out.
In blue states? Break even if not a homeowner. Hurt if in the lower end of the upper middle-class if a homeowner, break even after AMT in the upper end of the upper middle class. At least according to the anecdotes I've heard, welcome to changing my mind if someone wants to dig up and link data.
The tax plan was seriously partisan based on geography. SALT cap was a middle finger to middle and upper-middle income blue state residents. Lots of angry blue state Republicans, only surprise is these people took so long to figure it out.
You know, if it's true (the bolded part), then this is wrong. Politics and politicians have lost sight of the fact that it's people that matter. Not whether they vote a certain party. Shouldn't a president, congress and the senate try to do what's best for all citizens? This shouldn't have winners and losers.
This is what I dislike about today's society. You're judged on who you support politically. Last time I looked, we're all just trying to make a life for our self and our family.
I can't see how the president and congress would okay something like this, especially after the president saying tonight in his sotu speech that the middle class was going to prosper. Either he was lying when he sold the tax cuts to taxpayers or he lied tonight. I know a lot of people didn't like George W, but I got a tax cut while he was president which is more than I'll get with Trump. Pffffft
Much of Obamas deficit and debt was inherited from the last administration who handed him the worst economy in generations.
He wasn't irresponsible enough to pass a tax cut he couldn't pay for like the current moron in chief who had created trillion dollar deficits annually during a supposed economic boom
Obama "inherited" about a $10 trillion debt-he left Trump a $20 trillion one. He can not blame Bush for everything that happened during his administration-any more than he can claim credit for what happened 2 years after he left office.
Fortunately under Trump-we have record high tax revenues-we don't have a revenue problem, we have a spending problem. And that has been true under both parties.
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