GOP Tax Plan "Talking Point" Highlights Released
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GOP Tax Plan "Talking Point" Highlights Released

By Sniper following x   2017 Nov 2, 7:52am 3,173 views   168 comments   watch   sfw   quote     share    


The GOP released the "talking point" highlights of the republican tax plan which, as previewed earlier this morning, will keep the 20% corporate tax cut as permanent, and which allegedly will assure that a family of 4 making $59,000 will get a $1,182 tax cut.

Here are the most notable changes:

- Lowers individual tax rates for low- and middle-income Americans to Zero, 12%, 25%, and 35%; keeps tax rate for those making over $1 million at 39.6%
- Increases the standard deduction from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.
- Establishing a new Family Credit, which includes expanding the Child Tax Credit from $1,000 to $1,600
- Preserving the Child and Dependent Care Tax Credit
- Preserves the Earned Income Tax Credit
- Preserves the home mortgage interest deduction for existing mortgages and maintains the home mortgage interest deduction for newly purchased homes up to $500,000, half the current $1,000,000
- Continues to allow people to write off the cost of state and local property taxes up to $10,000
- Retains popular retirement savings options such as 401(k)s and Individual Retirement Accounts
- Repeals the Alternative Minimum Tax
- Lowers the corporate tax rate to 20% – down from 35%
- Reduces the tax rate on business income to no more than 25%
- Establishes strong safeguards to distinguish between individual wage income and “pass-through” business income
- Allows businesses to immediately write off the full cost of new equipment
- Retains the low-income housing tax credit

A key issue will be the treatment of the state and local tax deduction, which lawmakers are proposing to cap at $10,000.

The bill also “makes no changes to the popular retirement savings options that Americans have today — including 401(k)’s and Individual Retirement Accounts, or I.R.A.s. Americans will be able to continuing making both traditional, pretax contributions and ‘Roth’ contributions in the way that works best for them.”




http://www.zerohedge.com/news/2017-11-02/gop-tax-plan-talking-point-highlights-released
#economics

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129   anonymous   ignore (null)   2017 Nov 3, 3:48pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
Are you really too dim to understand that?

Apparently, yes, he is.
130   anonymous   ignore (null)   2017 Nov 3, 4:14pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
Sniper says

Just think how all the ultra rich people benefit from that!!!


That's not proof you dolt. You just cherry picked the few good things in the bill and left out all the others. Like the removal of exemptions. And the elimination of the deduction for student loan debt.

Sniper says

And the ultra rich REALLY benefits from that!!


No, the ultra rich benefit from the elimination of the AMT and estate tax. And notice they left in the deductibility of charitable donations--that is the among the ultra rich favorite tax avoidance schemes.


Hdjai
131   anonymous   ignore (null)   2017 Nov 3, 4:18pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says

That's not proof you dolt. You just cherry picked the few good things in the bill and left out all the others.


Cidnsu
132   anonymous   ignore (null)   2017 Nov 3, 4:22pm   ↑ like (0)   ↓ dislike (0)   quote        

href="/post/1311658&offset=0#comment-1455702">Sniper says

No, it IS the rich getting the break. I showed you how.


Kfjs
133   anonymous   ignore (null)   2017 Nov 3, 4:23pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says

No, it IS the rich getting the break. I showed you how.


Cidhysb
134   anonymous   ignore (null)   2017 Nov 3, 4:25pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
Every one benefits, now go TROLL somewhere else.



Kgjqkbkakg
135   anonymous   ignore (null)   2017 Nov 3, 4:27pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
Yes, you've said that. I'm asking what would cause you to think that? Please detail what I've said that's incorrect.
136   anonymous   ignore (null)   2017 Nov 3, 4:29pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
I really don't think you understand how a business works.
137   anonymous   ignore (null)   2017 Nov 3, 4:32pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
Sniper says
Every one benefits, now go TROLL somewhere else.


lol--your own chart shows that everyone doesn't benefit. But, regardless, as I posted multiple times, it's possible for everyone to benefit AND have the vast majority of the benefits go to the ultra rich. Are you really too dim to understand that?
138   anonymous   ignore (null)   2017 Nov 3, 4:33pm   ↑ like (0)   ↓ dislike (0)   quote        

anon_885e5 says
In the case of profit they will pay taxes and the rest goes to the owner whom is free to to with what he wants be it hookers and blow or reinvesting it into the company it is free for them to do what they want but what the most certainly do not do is invest their money into EXPENSES. They invest their money into a company and get more ownership of the company then that company has money to do with what it wants to do.


Joehonsahhw
139   anonymous   ignore (null)   2017 Nov 3, 4:36pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
joeyjojojunior says
So, the only thing you can find is me saying that the majority of the benefits of the tax reform is going to the rich??


You've only posted that like 25 times so far on multiple threads, can you PROVE that will be the case, so far, it's been bullshit opinions?

Of course you can't, that's the TROLL line of the day.
140   anonymous   ignore (null)   2017 Nov 3, 4:39pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
Only in piggy world.


Kfxh jckhwj
141   anonymous   ignore (null)   2017 Nov 3, 4:40pm   ↑ like (0)   ↓ dislike (0)   quote        

APOCALYPSEFUCK_is_ADORABLE says
IF trump can't shoot poor people in the face, he should give up.


Idndiwnsbdq
142   anonymous   ignore (null)   2017 Nov 3, 4:44pm   ↑ like (0)   ↓ dislike (0)   quote        

Strategist says
The poor never had it so good. They pay no taxes, get lots of freebies, and still get to complain.
Wish I was that poor.


Lbifnfkg
143   anonymous   ignore (null)   2017 Nov 3, 4:46pm   ↑ like (0)   ↓ dislike (0)   quote        

anon_3733c says
I thought they eliminated state and local tax deductions


Ksdbsidnwn
144   anonymous   ignore (null)   2017 Nov 3, 4:51pm   ↑ like (0)   ↓ dislike (0)   quote        

joeyjojojunior says
+1. Those are the key to the deal and why the 1% is pushing this tax deal. The other stuff is just noise to make sure the Koch Bros. get theirs.
145   anonymous   ignore (null)   2017 Nov 3, 5:16pm   ↑ like (0)   ↓ dislike (0)   quote        

Run piggy run
146   anonymous   ignore (null)   2017 Nov 3, 7:16pm   ↑ like (0)   ↓ dislike (0)   quote        

Piggy why is it ok now to deficit spend? You had such a shit fit when Obama did it but now it's ok? Why should taxes be cut for anyone, we aren't running a surplus.
147   WookieMan   ignore (0)   2017 Nov 3, 10:37pm   ↑ like (1)   ↓ dislike (0)   quote        

anon_4e4a8 says
Ksdbsidnwn

Having a stroke or something bro? Clearly having some trouble with your comments on this thread. Hopefully you got the help you need and aren't dead.
148   anonymous   ignore (null)   2017 Nov 3, 10:58pm   ↑ like (0)   ↓ dislike (0)   quote        

Hey Wookie... I'm not a bot. ;)
149   WookieMan   ignore (0)   2017 Nov 3, 11:31pm   ↑ like (0)   ↓ dislike (0)   quote        

anon_13ce6 says
Hey Wookie... I'm not a bot. ;)

Good. I didn't think this one was a bot though, so I didn't mention that. I assume you're anon 4e4a8 as well then? Were you seriously having a stroke or just messing around for 15 comments in a row? Or did you not see what I quoted? I wasn't replying to your comment 174 if that's what you're thinking.
150   anonymous   ignore (null)   2017 Nov 3, 11:44pm   ↑ like (0)   ↓ dislike (0)   quote        

No I'd guess that was piggy. But maybe it wasn't him. I am anon885e5 above too. I don't think I could have done what 4e4a8 did without knowing it. And I know I didn't purposely do it.
151   anonymous   ignore (null)   2017 Nov 3, 11:48pm   ↑ like (0)   ↓ dislike (0)   quote        

How about oil is he a bot? @patrick are you responsible for any of these bots? I remember you mentioned considering them a while back. Or are we all bots?
152   WookieMan   ignore (0)   2017 Nov 4, 12:02am   ↑ like (1)   ↓ dislike (0)   quote        

anon_13ce6 says
How about oil is he a bot?

Do dogs bark?
153   bob2356   ignore (1)   2017 Nov 4, 6:16am   ↑ like (0)   ↓ dislike (0)   quote        

anonymous says
For a long while, the theory of economist Arthur Laffer managed to bridge that gap by contending that lower taxes led to more economic activity, which in turn expanded federal revenue.


You would think after almost 40 years where this simply didn't work someone would say the emperor has no clothes. Is it self delusion of pure hypocrisy at this point?

anonymous says
The new House plan is no exception. Indeed, its proponents make much of keeping the top individual tax rate at 39.6 percent.


They don't make much of trading a 35% or 39.6% rate for a 25% pass through rate. Or how much of the 15% cut in corporate taxes is going to end up in the pockets of the very wealthy. Why am I not seeing those numbers included in the estimate of who gains and who loses? Disclaimer the 25% pass through will be good for me under the proposed new brackets.
154   Sniper   ignore (11)   2017 Nov 4, 7:29am   ↑ like (1)   ↓ dislike (1)   quote        

anonymous says
Tax plans tend to favor the wealthy.


Yah think? Maybe because they are the ones paying the majority of the taxes NOW.

I know, let's give a tax cut to the people who pay $0 in taxes now? That should really help them!

Oh wait...
155   Strategist   ignore (1)   2017 Nov 4, 8:51am   ↑ like (0)   ↓ dislike (0)   quote        

bob2356 says
anonymous says
For a long while, the theory of economist Arthur Laffer managed to bridge that gap by contending that lower taxes led to more economic activity, which in turn expanded federal revenue.


You would think after almost 40 years where this simply didn't work someone would say the emperor has no clothes. Is it self delusion of pure hypocrisy at this point?


It works alright. The question is how much and when. Wether it's needed or not.
156   anonymous   ignore (null)   2017 Nov 4, 9:22am   ↑ like (0)   ↓ dislike (0)   quote        

Strategist says
It works alright. The question is how much and when. Wether it's needed or not.


Not arguing if it works or not but timing. Do you give a tax cut when the economy is doing better than it has in a long while. Stock market hitting new highs just doesn't seem the right time to cut taxes.
157   bob2356   ignore (1)   2017 Nov 4, 12:29pm   ↑ like (0)   ↓ dislike (0)   quote        

Strategist says


It works alright. The question is how much and when. Wether it's needed or not.


Yea, it's like bigfoot, no one has ever seen it.
158   PrivilegedtobeWhite   ignore (1)   2017 Nov 4, 1:33pm   ↑ like (2)   ↓ dislike (0)   quote        

Sniper says
anonymous says
Tax plans tend to favor the wealthy.


Yah think? Maybe because they are the ones paying the majority of the taxes NOW.

I know, let's give a tax cut to the people who pay $0 in taxes now? That should really help them!

Oh wait...
Spot on. Liberals won't be happy until the poor are given free money just to exist...oh wait.
159   Patrick   ignore (0)   2017 Nov 4, 3:18pm   ↑ like (0)   ↓ dislike (0)   quote        

WookieMan says
anon_13ce6 says
How about oil is he a bot?

Do dogs bark?


Yes, oil is the same bot from Hong Kong like all the others.

No Russian problem here, only Hong Kong.

Now I'm banning comments from China, so hopefully that will fix this particular problem. I'd welcome human comments from China, but not sure I ever got any.
160   PrivilegedtobeWhite   ignore (1)   2017 Nov 4, 4:26pm   ↑ like (1)   ↓ dislike (0)   quote        

Losers will always hate the successful. It's that hate that blinds them from taking accountability for their own lives.
161   joeyjojojunior   ignore (1)   2017 Nov 4, 4:30pm   ↑ like (0)   ↓ dislike (0)   quote        

just any guy says
Losers will always hate the successful. It's that hate that blinds them from taking accountability for their own lives.


Why do conservatives always try to put emotion into the conversation?

Liberals don't hate success. They understand that high inequality leads to a poor economy for everyone so they want to put laws into place that lead to lower inequality and a better economy.
162   anonymous   ignore (null)   2017 Nov 4, 6:58pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
anonymous says
Spot on. Conservatives won't be happy until the rich corporations are given free money, tax breaks, incentives just to exist...oh wait.


They already are, from Obama. Can you say Tesla, Solyndra, etc.?


Can you say corporate agriculture, big oil, defence contractors? Who do they get their free money, tax breaks, incentives from?
163   Sniper   ignore (11)   2017 Nov 4, 7:28pm   ↑ like (1)   ↓ dislike (0)   quote        

joeyjojojunior says
Liberals don't hate success. They understand that high inequality leads to a poor economy for everyone so they want to put laws into place that lead to lower inequality and a better economy.


just any guy says
Liberals won't be happy until the poor are given free money just to exist.
164   anonymous   ignore (null)   2017 Nov 4, 7:42pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
joeyjojojunior says
just any guy says
Losers will always hate the successful. It's that hate that blinds them from taking accountability for their own lives.


Why do conservatives always try to put emotion into the conversation?


Why do Trolls hate facts and want to spin them as emotion?

165   joeyjojojunior   ignore (1)   2017 Nov 5, 7:39am   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says
joeyjojojunior says
just any guy says
Losers will always hate the successful. It's that hate that blinds them from taking accountability for their own lives.


Why do conservatives always try to put emotion into the conversation?


Why do Trolls hate facts and want to spin them as emotion?


Sorry--can you point to the facts in the statement?
166   PrivilegedtobeWhite   ignore (1)   2017 Nov 5, 8:15am   ↑ like (1)   ↓ dislike (0)   quote        

joeyjojojunior says
just any guy says
Losers will always hate the successful. It's that hate that blinds them from taking accountability for their own lives.


Why do conservatives always try to put emotion into the conversation?

Liberals don't hate success. They understand that high inequality leads to a poor economy for everyone so they want to put laws into place that lead to lower inequality and a better economy.
I said "losers", not liberals, but I guess you subconsciously equated the two lol. That's precious.
167   joeyjojojunior   ignore (1)   2017 Nov 5, 8:22am   ↑ like (0)   ↓ dislike (0)   quote        

just any guy says
I said "losers", not liberals, but I guess you subconsciously equated the two lol. That's precious.


Yes, how could I have done that.. Oh wait, maybe because of your previous post?

just any guy says
Liberals won't be happy until the poor are given free money just to exist...oh wait.
168   PrivilegedtobeWhite   ignore (1)   2017 Nov 5, 12:09pm   ↑ like (1)   ↓ dislike (0)   quote        

joeyjojojunior says
just any guy says
I said "losers", not liberals, but I guess you subconsciously equated the two lol. That's precious.


Yes, how could I have done that.. Oh wait, maybe because of your previous post?

just any guy says
Liberals won't be happy until the poor are given free money just to exist...oh wait.
That's a different statement entirely. This was about people hating the successful. Freudian slip.

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