Tax plan calculator
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40   Satoshi_Nakamoto   ignore (0)   2017 Dec 1, 10:29am   ↑ like (0)   ↓ dislike (0)     quote      

anon_bb95f says
Also, no single household making under 250K or married filing with joint household under 500K is affected.


The calculator disagrees.
41   anon_bb95f   ignore (0)   2017 Dec 1, 10:55am   ↑ like (0)   ↓ dislike (0)     quote      

Fucking White Male says
anon_bb95f says
If these people are as ballers as they act that they are they can easily afford this increase. It's funny these people sometimes act all cheapskate and complain about gas tax when it probably won't cost them more that $1 per day. For gods sakes, stinginess is not a virtue, it's not like they are check to checking living under the fence.


Would love to know who you are, as this is a HORRIBLE argument for your position, usually only put forward by government staffers.


I work in private sector. I do however strongly believe in unions, both private and public. Essentially, whoever benefits from prop 30 tax increase benefits so more that the taxpayer who is "hurt" by this increase. These people who have to pay more under prop 30 make lots of money, they won't even feel it. Meanwhile these increases can fund lots of government jobs that help our society. Also, if you notice the usual suspects aka Jarvis Foundation opposed this plan...that tells us all that we need to know.
42   Satoshi_Nakamoto   ignore (0)   2017 Dec 1, 11:04am   ↑ like (3)   ↓ dislike (0)     quote      

anon_bb95f says
Meanwhile these increases can fund lots of government jobs that help our society.


Help how? CA schools are shittiest in the nation despite all the money poured into them.
43   CovfefeButDeadly   ignore (2)   2017 Dec 1, 12:12pm   ↑ like (0)   ↓ dislike (0)     quote      

anon_bb95f says
Fucking White Male says
anon_bb95f says
If these people are as ballers as they act that they are they can easily afford this increase. It's funny these people sometimes act all cheapskate and complain about gas tax when it probably won't cost them more that $1 per day. For gods sakes, stinginess is not a virtue, it's not like they are check to checking living under the fence.


Would love to know who you are, as this is a HORRIBLE argument for your position, usually only put forward by government staffers.


I work in private sector. I do however strongly believe in unions, both private and public. Essentially, whoever benefits from prop 30 tax increase benefits so more that the taxpayer who is "hurt" by this increase. These people who have to pay more under prop 30 make lots of money, the...


Wow.
44   anon_313db   ignore (0)   2017 Dec 1, 1:20pm   ↑ like (0)   ↓ dislike (0)     quote      

KimJongUn says
The calculator disagrees.


That stat about 250K/500K was only about california Prop 30. Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey. However, there will be serious collateral damage among wealthy core republicans especially those who live in orange county. Talk about irony - they primarily voted for him hoping for a tax cut only to be slammed with a tax increase....
45   CovfefeButDeadly   ignore (2)   2017 Dec 1, 1:36pm   ↑ like (2)   ↓ dislike (0)     quote      

anon_313db says
KimJongUn says
The calculator disagrees.


That stat about 250K/500K was only about california Prop 30. Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey. However, there will be serious collateral damage among wealthy core republicans especially those who live in orange county. Talk about irony - they primarily voted for him hoping for a tax cut only to be slammed with a tax increase....


Again a ridiculous position by you. California and NY/NJ are about as far away from electing Trump as it gets, regardless of how many Republicans in those states vote for him. .
46   Satoshi_Nakamoto   ignore (0)   2017 Dec 1, 1:43pm   ↑ like (1)   ↓ dislike (0)     quote      

anon_313db says
However, there will be serious collateral damage among wealthy core republicans especially those who live in orange county. Talk about irony - they primarily voted for him hoping for a tax cut only to be slammed with a tax increase....


There is no irony to talk about because their vote didn't matter one iota in this God-forsaken gone-to-donkey-shit state.
47   HEYYOU   ignore (6)   2017 Dec 1, 4:18pm   ↑ like (0)   ↓ dislike (1)     quote      

We still don't have a passed & signed Republican Tax Increase that very many have read.We will have to pass it to know how much it will affect an individual/family budget.

Calculating one's taxes with no formula is patnet brilliance.

If one is on patnet someone should be concerned about their mental health.
My psychiatrist said that he couldn't help me & didn't know anyone that could.
48   anon_bb95f   ignore (0)   2017 Dec 1, 5:16pm   ↑ like (0)   ↓ dislike (0)     quote      

KimJongUn says
There is no irony to talk about because their vote didn't matter one iota in this God-forsaken gone-to-donkey-shit state.


Their vote did not matter, but they certainly did not matter to trump. Just placed on the altar to be sacrificed to Baal.
49   Satoshi_Nakamoto   ignore (0)   2017 Dec 1, 5:17pm   ↑ like (1)   ↓ dislike (0)     quote      

anon_bb95f says
KimJongUn says
There is no irony to talk about because their vote didn't matter one iota in this God-forsaken gone-to-donkey-shit state.


Their vote did not matter, but they certainly did not matter to trump. Just placed on the altar to be sacrificed to Baal.


Meaningless word gymnastics.
50   BorderPatrol   ignore (1)   2017 Dec 1, 8:50pm   ↑ like (0)   ↓ dislike (0)     quote      

mell says
It's not socialist. The opposite is socialist, having itemizations benefitting some at the expense of others, That is socialism. No deduction at all or the same standard deduction for everybody only levels the playing field and upholds equal opportunity without fostering bubbles. There are absolutely zero reasons except for crony capitalism / socialism to allow a homeowner to deduct mortgage interest for their homes but not to allow a stock investor to deduct their margin interest. Or a piano collector to deduct their interest from debt accrued from buying pianos.


sounds like you can't itemize much so you hate seeing other who can itemize and come out better than you. that is pure jealousy.
"if i can't take advantage of it no one can" bullshit.

by your pick & choose what can and cannot be deducted, you demonstrated a very poor grasp of the how the government use taxes to encourage economy growth as a whole. investing in stocks does nothing for growing the economy. buying a house will because it creates jobs for a lot of people. you are just angry because you can't afford a house.

same thing they'll give you tax breaks for having kids and helping produce a future work force or take out a student loan and not a personal loan. nothing crony capitalism about any of these. you spend money on growing the economy in a way not many are willing to do (like opening a business or hiring) or benefiting society as a whole (teaching expenses as you mentioned), you get a tax deduction. that is the essence of the tax deductions. instead of complaining no fair you should think more objectively and stop having a victim mentality.
51   NewOldUser   ignore (0)   2017 Dec 1, 10:58pm   ↑ like (0)   ↓ dislike (0)     quote      

Updated version of Senate Bill is much better. Please try the calculator again to see what shakes out.
52   Rew   ignore (0)   2017 Dec 1, 11:47pm   ↑ like (1)   ↓ dislike (3)     quote      

NewOldUser says
Updated version of Senate Bill is much better. Please try the calculator again to see what shakes out.


Not a single person knows the full details of what is in the plan that just passed the senate vote. Not a single soul. It's over 450 pages, with hand written annotations in the columns, and lobbyist pork added all over it just in the past 4 hours.

What it may do for taxes in income it doesn't at all do for other deductions the plebeian underclasses use, and it is "soft repeal" of the ACA to boot.

Anything you are using as calculation right now, isn't even 1/4 of the story of what this bill is. Your income taxes may go down, but unless you are a many-times-over multimillionaire, you probably just lost ... because the majority of the American people and consumers lost tonight.
53   ThreeBays   ignore (0)   2017 Dec 2, 12:56am   ↑ like (0)   ↓ dislike (0)     quote      

I'm getting around $2k and $17k (!) better off under house & senate plans respectively.
54   lostand confused   ignore (0)   2017 Dec 2, 2:21am   ↑ like (0)   ↓ dislike (1)     quote      

Rew says
Your income taxes may go down, but unless you are a many-times-over multimillionaire, you probably just lost ... because the majority of the American people and consumers lost tonight.

Yeah right. So you must be God, because you claimed this.
Rew says
Not a single person knows the full details of what is in the plan that just passed the senate vote. Not a single soul.
55   Rew   ignore (0)   2017 Dec 2, 12:08pm   ↑ like (1)   ↓ dislike (2)     quote      

lostand confused says
Yeah right. So you must be God, because you claimed this.


If you believe the idle rich will "trickle down", than you can just call me wrong, and move on. If you think I believe this bill is bad, simply because it was created by the GOP congress, and that I am only partisan in my position, you can stop reading now.

--

From what I have managed to read of the bill, and what I can see from reporting on the process used, the following is clear:

A) This wasn't a "tax bill", alone
B) Its primary intent was NOT helping the middle class
C) It makes the growing economic inequality in the nation worse. (i.e. this is not a bill that will fuel economic growth.)

The bill's primary motivation was to give back to donors and reduce taxes on inheritances. It had over 6 thousand lobbyists actually working on it. During this legislative push, multiple congressional members have stated motivations of giving back to their donors.

Yes, many of us will be up a few thousand on income taxes. We will lose elsewhere, in greater amount. Because this bill benefits fewer individuals than it helps and it pays for it by running up the deficit by 1 Trillion dollars.

A society where private jets have more tax exemption than school supplies, and where a 40K pension has a higher tax rate, than a multi-million dollar inheritance, is one doomed to fail.

We all lost, even those that think they won.
56   anon_3b28c   ignore (1)   2017 Dec 2, 3:34pm   ↑ like (1)   ↓ dislike (0)     quote      

Sniper says

You and the whole Dem party are partisan in your positions. Why dance around that fact?

Please explain why the Senate bill got approved exactly down party lines, that only one Repub didn't vote for it and EVERY Dem didn't vote for it? You want us to believe that not a single Dem Senator saw anything good in the plan?


You think if there's one good thing and 1000 bad things, a senator should vote for it?

This bill was a complete piece of shit. Every non-partisan organization that has looked at it agrees. It's a complete sell-out to the 1% donors of the Republican party. Senators have even gone on record saying they have to pass this or else they will not get any donations when it comes time to run for re-election They don't even hide the fact that they are bought and paid for by the 1%. It's very sad.

But folks on here don't care because Trump says Merry Christmas.
57   Sniper   ignore (10)   2017 Dec 2, 3:42pm   ↑ like (1)   ↓ dislike (2)     quote      

anon_3b28c says
This bill was a complete piece of shit.


If that's the case, why didn't MORE repubs vote against it? They haven't been afraid to vote against other bills this year.
58   CovfefeButDeadly   ignore (2)   2017 Dec 2, 3:42pm   ↑ like (1)   ↓ dislike (0)     quote      

anon_3b28c says
Sniper says

You and the whole Dem party are partisan in your positions. Why dance around that fact?

Please explain why the Senate bill got approved exactly down party lines, that only one Repub didn't vote for it and EVERY Dem didn't vote for it? You want us to believe that not a single Dem Senator saw anything good in the plan?


You think if there's one good thing and 1000 bad things, a senator should vote for it?

This bill was a complete piece of shit. Every non-partisan organization that has looked at it agrees. It's a complete sell-out to the 1% donors of the Republican party. Senators have even gone on record saying they have to pass this or else they will not get any donations when it comes time to run for re-election They don't even hide the fact that they are bought and paid for by the 1%. It's very sad.

But folks on here don't care because Trump says Merry Christmas.


Link a few articles.

I assume you won't because those "non partisan organizations" are not so non partisan.

The fact is that nearly every article against the tax plan as it stand actually makes up facts and misrepresents statistics. The most basic lie is a simple one...that a tax "cut" is actually an expense or somehow a giveaway. Its like someone took an accounting class and didn't quite understand that lowering tax rates isn't an "expense",

Its a beyond preposterous position and I'm ready to label anyone who makes that argument a complete and total liar.
59   HappyGilmore   ignore (1)   2017 Dec 2, 7:13pm   ↑ like (0)   ↓ dislike (0)     quote      

Sniper says
If that's the case, why didn't MORE repubs vote against it? They haven't been afraid to vote against other bills this year.

anon_3b28c says
It's a complete sell-out to the 1% donors of the Republican party. Senators have even gone on record saying they have to pass this or else they will not get any donations when it comes time to run for re-election They don't even hide the fact that they are bought and paid for by the 1%. It's very sad.
60   Rew   ignore (0)   2017 Dec 2, 11:52pm   ↑ like (2)   ↓ dislike (8)     quote      

Fucking White Male says
The most basic lie is a simple one...that a tax "cut" is actually an expense or somehow a giveaway.


It's not an expense its a pay cut, which increase the amount by which the government already cannot pay its bills.

The budget score came in approximately an hour after the bill passed in the Senate. Just as standard process and norms dictate. (snicker)
https://www.jct.gov/publications.html?func=startdown&id=5046
And, the score is exactly as McConnell promised. "Should be Revenue Neutral" ... meaning it absolutely isn't.

There ARE things worth ballooning the deficit over, like an infrastructure bill, like stabilizing a collapsing economy. Tax breaks for myself and millionaires didn't make my list. Did they make yours?
61   Satoshi_Nakamoto   ignore (0)   2017 Dec 21, 8:13pm   ↑ like (1)   ↓ dislike (0)     quote      

The calculator has been updated with the final bill.

Ran the numbers again: yuuuge tax break for me despite deductions cap at $10K
62   CovfefeButDeadly   ignore (2)   2017 Dec 22, 1:52am   ↑ like (0)   ↓ dislike (0)     quote      

Rew says
It's not an expense its a pay cut, which increase the amount by which the government already cannot pay its bills


Were just gonna let this sentence incubate.
63   TwoScoopsPlissken   ignore (0)   2017 Dec 22, 6:56am   ↑ like (0)   ↓ dislike (0)     quote      

anon_313db says
That stat about 250K/500K was only about california Prop 30. Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey. However, there will be serious collateral damage among wealthy core republicans especially those who live in orange county. Talk about irony - they primarily voted for him hoping for a tax cut only to be slammed with a tax increase....


Nope. For the first time since the Great Depression, the crony capitalists in Orange County decided their future was better in the corruptible hands of Clinton. Not since FDR!
http://www.latimes.com/projects/la-pol-ca-2016-orange-county-results/
64   BorderPatrol   ignore (1)   2017 Dec 22, 7:15am   ↑ like (0)   ↓ dislike (0)     quote      

Cheer now. Your kids will pay for all this.
65   anon_76f27   ignore (0)   2017 Dec 22, 10:51am   ↑ like (0)   ↓ dislike (0)     quote      

anon_313db says
Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey.


You're learning, voting Democrat and voting for Hillary has consequences.

But in reality, it's your STATE representatives that are fucking you over in those states. Stop voting for the Blue team.
66   Satoshi_Nakamoto   ignore (0)   2017 Dec 22, 11:50am   ↑ like (0)   ↓ dislike (0)     quote      

anon_313db says
Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey.


Well, the calculator based on the final version of the bill disagrees: they won't be "punished".
67   anon_7ebb1   ignore (0)   2017 Dec 22, 1:33pm   ↑ like (1)   ↓ dislike (0)     quote      

Satoshi_Nakamoto says
anon_313db says
Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey.


Well, the calculator based on the final version of the bill disagrees: they won't be "punished".


Calculator shows that Cali millionaire household with $18,000 property taxes (1.5 million dollar home) and $60,000 in interest costs will pay a little more than $1,000 in federal taxes than they used to. The punishment will be unbearable...
68   BorderPatrol   ignore (1)   2017 Dec 22, 10:35pm   ↑ like (0)   ↓ dislike (1)     quote      

You forgot state income tax deduction.
I’m not remotely close to a millionaire but SALT deduction cap at $10K hurt my refund dramatically.


anon_7ebb1 says
Satoshi_Nakamoto says
anon_313db says
Regarding Trump's tax plan - it's clear that he and his apparatchiks are trying to punish "lexus liberals" who live primarily in CA and New York/Jersey.


Well, the calculator based on the final version of the bill disagrees: they won't be "punished".


Calculator shows that Cali millionaire household with $18,000 property taxes (1.5 million dollar home) and $60,000 in interest costs will pay a little more than $1,000 in federal taxes than they used to. The punishment will be unbearable...
69   BorderPatrol   ignore (1)   2017 Dec 22, 10:39pm   ↑ like (0)   ↓ dislike (1)     quote      

All CA republican senators and House rep better brush up their resume because hey are all FIRED next election.
70   Sniper   ignore (10)   2017 Dec 23, 8:31am   ↑ like (1)   ↓ dislike (0)     quote      

BorderPatrol says
All CA republican senators and House rep better brush up their resume because hey are all FIRED next election.


Except it was all the DEM elected politicians that voted for and allowed the ridiculous property taxes and state income taxes in the first place in CA.

Please focus on the real SOURCE of the problem.

Voting DEM has consequences!
71   BayAreaObserver   ignore (1)   2017 Dec 23, 8:48am   ↑ like (0)   ↓ dislike (1)     quote      

@Deadeye - New Jersey is in the top 10 for taxes, who are you blaming there ?
73   HEYYOU   ignore (6)   2017 Dec 23, 10:36am   ↑ like (0)   ↓ dislike (0)     quote      

anon_7ebb1 says
pay a little more than $1,000 in federal taxes than they used to.

TAX INCREASE!
Why do Republicans want to defend paying more taxes?

Bert Einsteinski
The difference between genius & Republicans,Republicans will DIE DUMB!
74   HEYYOU   ignore (6)   2017 Dec 23, 10:47am   ↑ like (1)   ↓ dislike (0)     quote      

How many here know if their taxes will increase?

I'll be talking to my adding & subtracting bookkeeper/CPA,after the new year.
Hope he doesn't have to use multiplication to figure my taxes under the new Republican Tax Increase Bill.

I've bookmarked this,will keep an eye out for responses.
75   Satoshi_Nakamoto   ignore (0)   2017 Dec 24, 12:05pm   ↑ like (0)   ↓ dislike (0)     quote      

BorderPatrol says
You forgot state income tax deduction.
I’m not remotely close to a millionaire but SALT deduction cap at $10K hurt my refund dramatically.


I'll call BS on this one.
76   BorderPatrol   ignore (1)   2017 Dec 25, 4:27pm   ↑ like (0)   ↓ dislike (1)     quote      

Do you even know how to do taxes? I’ll bet you need someone else to do it for you.

For every $3K of state income tax One pays over the $10K combined limit, they lose $1K of refund. Simple enough?

Satoshi_Nakamoto says
BorderPatrol says
You forgot state income tax deduction.
I’m not remotely close to a millionaire but SALT deduction cap at $10K hurt my refund dramatically.


I'll call BS on this one.

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