New Republican tax plan released today. It's just as evil as we all expected
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New Republican tax plan released today. It's just as evil as we all expected

By anonymous following x   2017 Sep 27, 9:08am 3,034 views   144 comments   watch   quote     share    


It's right here:

http://apps.washingtonpost.com/g/documents/business/read-the-complete-republican-tax-plan-released-wednesday/2560/
Key points:

1. Eliminates all deductions except the ones the rich use: Mortgage interest deduction and charitable donations. If you pay for your own work uniform or have job education expenses or excessive medial costs, fuck you.
2. Cuts corporate taxes to 20%.
3. Cuts the top tax rate from 39.6% to 35%.
4. Raises the bottom tax bracket from 10% to 12%. Fuck you working poor!
5. Repeals the alternative minimum tax on both individuals and corporations. This is a massive tax cut for the richest people in the world.
6. Repeals the estate tax. You will either be born into the aristocracy or banned from it forever.
7. Allows business to expense ALL of there capital investments. This is absolutely stunning and you can expect all real estate in the country to double or quadruple in price.
8. Various large tax cuts involved with overseas commerce.

Make no mistake, this is the worst case scenario. This is nation-wrecking. This is the end.

As expected, the cost is so monumental that it will drive up the national debt by many trillions of dollars. There is absolutely nothing from the Republican party on how to pay for any of it.



#politics

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106   iwog   ignore (1)   2017 Sep 29, 5:34pm   ↑ like (0)   ↓ dislike (1)     quote      

So real numbers are starting to pour out on this abomination. This one looks pretty accurate on the face of it but I still think with the new expensing rules that the rich are going to pay 0%.

107   anotheraccount   ignore (1)   2017 Sep 29, 6:29pm   ↑ like (1)   ↓ dislike (0)     quote      

iwog says
So real numbers are starting to pour out on this abomination


but, but, but, it will lessen my tax burden by $5.
108   anotheraccount   ignore (1)   2017 Sep 29, 6:31pm   ↑ like (2)   ↓ dislike (0)     quote      

iwog says
So real numbers are starting to pour out on this abomination


This is going to be the same shit that happened to people in Russia in 1990s. Oligarchs stole national wealth.
109   iwog   ignore (1)   2017 Sep 29, 6:50pm   ↑ like (1)   ↓ dislike (1)     quote      

me123 says
LOL, 2027. You could be dead by then.


No chance, but who cares? I can leave 100% of my wealth to my family tax free!!! That means ALL the depreciation I used and expensed over a lifetime is going to be converted to 100% tax free income for my heirs. Then THEY can simply sit back, not work, and let the money flow in until they can leave it to THEIR heirs tax free!

What a great system! My family will NEVER have to pay a cent to the federal government even when I'm benefiting immensely from all the money you poor slobs pay into the system for me. Thank you serfs!!!!! When you have to pay taxes on your next Luxury Carnival cruise, you can know that the money is going into MY pocket.

You wanted it, you voted for it, you got it. I hope you enjoy it.
110   iwog   ignore (1)   2017 Sep 29, 6:56pm   ↑ like (2)   ↓ dislike (0)     quote      

I forgot to mention, by wiping out the estate tax, none of us will EVER have to pay capital gains taxes again either. A house in Concord goes from $200,000 to $1 million?? NO PROBLEM!!!!! My son can sell it after I die, stick the $800,000 profit into his pocket, and not pay one single penny in federal capital gains taxes ever! What a lucky dog I am. I'm SO glad Trump is president!

So what'd you get? $50?

Don't you hate it when it's Christmas morning and your brother gets a $1000 gaming system complete with LCD TV and you get a nerf football?

Fuck Republicans. They are a disease.
111   Satoshi_Nakamoto   ignore (0)   2017 Sep 30, 8:32am   ↑ like (0)   ↓ dislike (1)     quote      

iwog says
So what'd you get?


The same. Duh. Stop acting like you're the only one who has two cents to rub together.
112   Satoshi_Nakamoto   ignore (0)   2017 Sep 30, 8:34am   ↑ like (0)   ↓ dislike (1)     quote      

iwog says
So real numbers are starting to pour out on this abomination. This one looks pretty accurate on the face of it but I still think with the new expensing rules that the rich are going to pay 0%.



So the brackets have been annonced already? I missed that. Where would 25% and 35% start?
113   errc   ignore (2)   2017 Sep 30, 8:43am   ↑ like (1)   ↓ dislike (1)     quote      

Thank you serfs!!!!! When you have to pay taxes on your next Luxury Carnival cruise, you can know that the money is going into MY pocket.

————

Lmao what a Failed Losers
115   jazz_music   ignore (2)   2017 Sep 30, 7:55pm   ↑ like (1)   ↓ dislike (1)     quote      

@BayAreaObserver the first step is to get USA into this awful crunch as pointed out in the cartoon.

When we find ourselves in the middle of the effects of this the answer will be revealed to us: we must sell off our infrastructure, highways, bridges, dams, etc. just as they do to the countries we bury in debt. These tactics are well rehearsed and their results are exactly what make 3rd world countries as hopeless and miserable as some are.

Such a crisis is what it takes to apologetically put Social Security, Medicare, Education, Environment, National parks, and any other social spending LIKE THE VA up on the chopping block.

Whocouldanode?

Come on now.
116   FortWayne   ignore (0)   2017 Sep 30, 9:08pm   ↑ like (0)   ↓ dislike (4)     quote      

Dan8267 says
Yeah, Iwog and I are communists


About time you admitted it to yourself.
117   Dan8267   ignore (3)   2017 Sep 30, 11:23pm   ↑ like (1)   ↓ dislike (1)     quote      

FortWayne says
Dan8267 says
Yeah, Iwog and I are communists


About time you admitted it to yourself.


Quote part of a sentence out of context is a sign of dishonesty and a small penis.
118   Fucking White Male   ignore (2)   2017 Sep 30, 11:27pm   ↑ like (1)   ↓ dislike (1)     quote      

KimJongUn says
iwog says
So real numbers are starting to pour out on this abomination. This one looks pretty accurate on the face of it but I still think with the new expensing rules that the rich are going to pay 0%.



So the brackets have been annonced already? I missed that. Where would 25% and 35% start?


How stupid are you if you believe ANYONE in the lowest 5th pays federal income tax and most in the lowest 3rd and 4th pay much in federal income tax?

BTW IWOG, thats how you properly use the term stupid.
119   bob2356   ignore (1)   2017 Oct 1, 8:31am   ↑ like (0)   ↓ dislike (0)     quote      

Fucking White Male says
How stupid are you if you believe ANYONE in the lowest 5th pays federal income tax and most in the lowest 3rd and 4th pay much in federal income tax?

BTW IWOG, thats how you properly use the term stupid


Stupid is as stupid does. The bottom 5th ends at 22,000. The lowest 3rd ends at 72,000. You can't figure out the federal tax for a single person making $22,000? That's sad. Here is how it works, Standard deduction 6350 personal 4050 agi 11,600 taxes 1274. Yes I'm that stupid to believe people in the lowest 5th pay federal income tax. How do you properly use the term stupid for someone that can't figure this out?
120   anonymous   ignore (4)   2017 Oct 1, 9:00am   ↑ like (0)   ↓ dislike (0)     quote      

bob2356 says
How do you properly use the term stupid for someone that can't figure this out?


I believe the term is dotard.
121   FortWayne   ignore (0)   2017 Oct 1, 9:19am   ↑ like (0)   ↓ dislike (2)     quote      

self reflecting again Dan, so sad...
Dan8267 says
FortWayne says
Dan8267 says
Yeah, Iwog and I are communists


About time you admitted it to yourself.


Quote part of a sentence out of context is a sign of dishonesty and a small penis.
122   iwog   ignore (1)   2017 Oct 1, 12:32pm   ↑ like (1)   ↓ dislike (1)     quote      

Fucking White Male says
How stupid are you if you believe ANYONE in the lowest 5th pays federal income tax and most in the lowest 3rd and 4th pay much in federal income tax?

BTW IWOG, thats how you properly use the term stupid.


Nothing says this. You just pulled it out of your ass.

It's presumed that these are all tax paying individuals.
123   FortWayne   ignore (0)   2017 Oct 1, 1:01pm   ↑ like (0)   ↓ dislike (1)     quote      

I believe if we keep more of our money we'll accomplish much better than what inefficient bureaucracy can.
124   iwog   ignore (1)   2017 Oct 1, 1:04pm   ↑ like (1)   ↓ dislike (1)     quote      

FortWayne says
I believe if we keep more of our money we'll accomplish much better than what inefficient bureaucracy can.


You have reading comprehension issues again.

Every penny of the money "we keep" is going to be FUCKING BORROWED!!!!!! What in the hell is wrong with you when you demonize Obama for deficit spending but you praise Trump for doing it in spades??

I CANNOT understand why you are so stupid. Everything I say here can be proven to your satisfaction with 60 seconds and a Google search.
125   FortWayne   ignore (0)   2017 Oct 1, 1:11pm   ↑ like (0)   ↓ dislike (1)     quote      

iwog says
FortWayne says
I believe if we keep more of our money we'll accomplish much better than what inefficient bureaucracy can.


You have reading comprehension issues again.

Every penny of the money "we keep" is going to be FUCKING BORROWED!!!!!! What in the hell is wrong with you when you demonize Obama for deficit spending but you praise Trump for doing it in spades??

I CANNOT understand why you are so stupid. Everything I say here can be proven to your satisfaction with 60 seconds and a Google search.


I think we should cut spending. But this government will not cut spending unless they are forced to do so.
126   iwog   ignore (1)   2017 Oct 1, 1:13pm   ↑ like (1)   ↓ dislike (1)     quote      

FortWayne says
I think we should cut spending. But this government will not cut spending unless they are forced to do so.


When was the last time Republicans cut spending? Oh that's right, NEVER!!!!!!!!

So you already know Republicans aren't going to cut spending but yeah.........cut taxes because deficits only matter when a Democrat is president. In fact fuck that, lets DOUBLE the deficit!!!!!!

Again I ask how you can be so bloody stupid?
127   joeyjojojunior   ignore (1)   2017 Oct 1, 1:14pm   ↑ like (0)   ↓ dislike (1)     quote      

FortWayne says
I think we should cut spending. But this government will not cut spending unless they are forced to do so.


Bullshit. The US has almost unlimited borrowing power. Larger deficits won't force anything.

The only way to cut spending is to elect people who will balance the budget.
128   FortWayne   ignore (0)   2017 Oct 1, 1:22pm   ↑ like (0)   ↓ dislike (1)     quote      

joeyjojojunior says
Bullshit. The US has almost unlimited borrowing power. Larger deficits won't force anything.

The only way to cut spending is to elect people who will balance the budget.


Such people don't exist in large enough numbers. But they will if they have to. It's how our government works, they do nothing unless their hand is forced.
129   iwog   ignore (1)   2017 Oct 1, 1:24pm   ↑ like (1)   ↓ dislike (1)     quote      

FortWayne says
Such people don't exist in large enough numbers. But they will if they have to. It's how our government works, they do nothing unless their hand is forced.


I'm more interested how you can exist with such massive hypocrisy.

How in the fucking hell are you capable of attacking Obama for debt and praising Trump? I'm not even going to get into the raw stupidity of blaming Obama for spending done by Bush. Again, how can you be this ignorant?
130   anotheraccount   ignore (1)   2017 Oct 1, 1:29pm   ↑ like (0)   ↓ dislike (0)     quote      

iwog says
How in the fucking hell are you capable of attacking Obama for debt and praising Trump


This type of hypocrisy helped me get out of gold in 2011. I saw too many Fort Waynes getting in when they were buying real estate instead of gold in 2005. Republicans were elected in 2010 to cut spending. Year right.
131   ThreeBays   ignore (0)   2017 Oct 1, 4:15pm   ↑ like (0)   ↓ dislike (0)     quote      

This tax framework would raise our personal taxes substantially. Repeal of state tax deduction would offset the lower top tax bracket, and make the repeal of AMT moot.

The mortgage interest deduction would no longer be useful to most Americans, due increase in standard deduction and no state tax deductions. At the same time removal of personal exemptions for all and a higher bottom tax bracket.
132   Fucking White Male   ignore (2)   2017 Oct 1, 7:22pm   ↑ like (1)   ↓ dislike (0)     quote      

iwog says
Fucking White Male says
How stupid are you if you believe ANYONE in the lowest 5th pays federal income tax and most in the lowest 3rd and 4th pay much in federal income tax?

BTW IWOG, thats how you properly use the term stupid.


Nothing says this. You just pulled it out of your ass.

It's presumed that these are all tax paying individuals.


Wat?!?! I've posted repeatedly and correctly that families of four making less than around $45k a year not only don't pay federal income tax, and in fact receive money from the Feds in the form of the EIC.

Bottom line...poor people with kids don't pay ANY Federal income tax. Poor single people pay VERY little in Federal Income Tax(and mostly due to George W. Bush) The idea that federal income tax cuts hurt poor people is a despicable propaganda lie from the Democrats and disseminated by the msm.

Your cited study is stupid to the point of being a lie and like I said, you actually don't even know any poor people.
133   anotheraccount   ignore (1)   2017 Oct 1, 7:50pm   ↑ like (0)   ↓ dislike (0)     quote      

Fucking White Male says
I've posted repeatedly and correctly that families of four making less than around $45k a year not only don't pay federal income tax


Did you know that rich people living off dividends don't pay any FICA tax and poor people making 45K year do.
134   Fucking White Male   ignore (2)   2017 Oct 1, 8:19pm   ↑ like (0)   ↓ dislike (1)     quote      

tr6 says
Fucking White Male says
I've posted repeatedly and correctly that families of four making less than around $45k a year not only don't pay federal income tax


Did you know that rich people living off dividends don't pay any FICA tax and poor people making 45K year do.


FICA isn't federal income tax. FWIW I'd LOVE to eliminate FICA and Medicare, but the people you politically support depend on those programs to stay in office so that wont happen.

http://www.taxpolicycenter.org/statistics/household-income-quintiles
So derp?
135   anotheraccount   ignore (1)   2017 Oct 1, 9:12pm   ↑ like (0)   ↓ dislike (0)     quote      

Fucking White Male says
FICA isn't federal income tax. FWIW I'd LOVE to eliminate FICA and Medicare, but the people you politically support depend on those programs to stay in office so that wont happen.


Yeah right. When you are 65 and Medicare is $100 per month and private health insurance is $2000 per month, you will want the 2K option You mean you can save that much more in 401K to afford that bill? Social security will be your biggest source of income if the interest rate stay low.
136   iwog   ignore (1)   2017 Oct 1, 10:08pm   ↑ like (1)   ↓ dislike (1)     quote      

Fucking White Male says
FICA isn't federal income tax. FWIW I'd LOVE to eliminate FICA and Medicare, but the people you politically support depend on those programs to stay in office so that wont happen.


Finish the thought, don't freeze on the most important bit because it's not part of your agenda.

".....but the people you politically support depend on those programs to stay in office so that wont happen because Americans overwhelmingly support those programs.
137   Fucking White Male   ignore (2)   2017 Oct 2, 1:47am   ↑ like (0)   ↓ dislike (0)     quote      

Stupid re direct by all. Common lefty tactic.

Again, poor people don't pay federal income tax. Major premise of this thread is that the rich benefit greater than the poor from President Trumps tax proposal. Of course you will not benefit when you pay no to little federal income tax. Families in the bottom two quintiles pay no federal income tax. Families in the third quintile pay very little income tax.
138   bob2356   ignore (1)   2017 Oct 2, 6:22am   ↑ like (0)   ↓ dislike (0)     quote      

Fucking White Male says


How stupid are you if you believe ANYONE in the lowest 5th pays federal income tax and most in the lowest 3rd and 4th pay much in federal income tax?


Fucking White Male says
Wat?!?! I've posted repeatedly and correctly that families of four making less than around $45k a year not only don't pay federal income tax, and in fact receive money from the Feds in the form of the EIC.

Bottom line...poor people with kids don't pay ANY Federal income tax. Poor single people pay VERY little in Federal Income Tax(and mostly due to George W. Bush) The idea that federal income tax cuts hurt poor people is a despicable propaganda lie from the Democrats and disseminated by the msm


Didn't you say ANYBODY? Inconsistent much?

A family of 4 at 45k pays 2718 in taxes and gets 1786 in EITC. Want to give us your definition of correctly?

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