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 2,403 views   199 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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160   BayAreaObserver   ignore (1)   2017 Nov 4, 1:40pm   ↑ like (1)   ↓ dislike (1)     quote      

Spot on. Conservatives won't be happy until the rich corporations are given free money, tax breaks, incentives just to exist...oh wait.
161   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.
162   just any guy   ignore (0)   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.
163   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.
164   anon_6a185   ignore (0)   2017 Nov 4, 6:58pm   ↑ like (0)   ↓ dislike (0)     quote      

Sniper says
BayAreaObserver 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?
165   Sniper   ignore (10)   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.
166   anon_8a2a6   ignore (0)   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?

167   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?
168   just any guy   ignore (0)   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.
169   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.
170   just any guy   ignore (0)   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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