patrick.net

Don’t expect trump supporters to acknowledge facts about trumps and crime enterprise.

Maybe in a few years when their refunds expire lol.

Some day, some year, Republican voters are going to wake up to the reality that it's a zero sum game and they've just gotten raped.

anon_25c83 says

reality that it's a zero sum game

Wrong. The economy is not a zero sum game and never has been. Attempts have been made by socialists and communists around the world to make it so, and where they have succeeded, untold misery has resulted.

Quigley says

Wrong. The economy is not a zero sum game and never has been.

There is negligible substance to your claim and a galactic mass of religious fanaticism about assuring people can just pay and pay and that is supposedly a good thing. --according to the horrendous societal destruction caused by believing in the gospel of Ayn Rand, the famous hypocrite darling of sociopathic capitalists.

The economy exhibits growth for top owners which they stash in offshore vaults while discretionary spending by the vast majority of the working population stagnates and shrinks over a 40 year steady trend.

I grant you a technical basis to say "not a zero sum game" is not a bald face lie, it is only a bald face lie in effect.

So yes, you are right, and you can argue passionately on behalf of the oligarchy and be right all the time.

It's not like any of these political madmen are losing their luxurious careers, going to prison, or even indicted. Until those things happen they will continually crucify working families with glee, and if they should ever be forced to relent that would be communism!

What a fucking racket these fucks have carved out for themselves. Just unimaginable and monstrous, anything but representative except for the highest bidders.

anonymous says

“This helps people who have held property for awhile, like Donald Trump,” David Kamin, an New York University law professor who served as a special assistant to the president for economic policy in the Obama administration, told IBT. “If you’ve got an LLC that’s a trade or business with a bunch of real estate holdings and few employees, [I] think you’re now golden. You get the deduction.”

Which looks like it's going to be 23%. Wow, a 23% break on profits from real estate that's in an LLC. Reducing taxable income from LLC's 23% is YUUUGE. I wonder if Trump (or members of congress) has any real estate LLC's that will be affected by this? Naw, trump says the tax bill will not benefit him.

I'm going to get a big bonus from this one. I still hate the tax bill.

We’ve been headed so far in the wrong direction for so long that even a modest course correction seems like a win. The politicians will continue to cut these backroom deals as long as they continue to be enriched by them and not held accountable. At this point, I’m looking at the Long game. We win a little here, lose a little there, but we move forward toward good policy and away from corruption as time goes on and politicians can be brought to heel.
I don’t like much of this tax bill, but there are good aspects to it, and taken as a whole, it should improve the fortunes of the working class tremendously.

Quigley says

and taken as a whole, it should improve the fortunes of the working class tremendously.

How exactly do you believe it will do that? What provisions will improve the fortunes of the working class and how?

anonymous says

Then again Senator Bob Corker Said He Hasn’t Read The Tax Bill, Denies Changing His Vote In Exchange For Personal Tax Breaks

Uh huh. I'm sure somewhere there is someone dumb enough to actually believe that.

bitch bitch bitch
every major tax bill will have provisions that will screw over all classes, and enrich all classes.
Libbies won't be satisfied until the richy riches are crucified at mt sinai with their deeds shoved up their collective asses...

anonymous says

Last-Minute Tax Break Could Enrich Trump And GOP Leaders - Other Stuff Too

bob2356 says

How exactly do you believe it will do that? What provisions will improve the fortunes of the working class and how?

I'm interested in hearing this answer too.

anonymous says

"every major tax bill will have provisions that will screw over all classes, and enrich all classes."

How come the ordinary guy aka the "middle class" never get any part of the enrichment, double that down for anyone below "middle class" ?

Instead of spewing party line propaganda, maybe comparing the old and new tax rates and deductions would help you.

https://www.cnbc.com/2017/12/15/find-your-new-tax-brackets-under-the-final-gop-tax-plan.html
"A mind is like a parachute, it only works when it open", (and not full of TDS).

Personal deduction doubled
next...

anonymous says

How come the ordinary guy aka the "middle class" never get any part of the enrichment, double that down for anyone below "middle class" ?

You will have to wait until patrick.net supports audio playback
anon_8f378 says

I'm interested in hearing this answer too.

BlueSardine says

Personal deduction doubled
next...

personal exemption gone.

Next...

1) Personal deduction doubled. This will help the lower to middle class workers the most. And will help renters a lot since they rarely can itemize.
2) upper middle class workers may be helped by more generous tax brackets, with more room in the mid range tax rates.
3) corporate tax rate drop should fuel a lot of growth which will create many jobs
4) child tax credit doubled, helps out parents struggling to to fund their families
5) Obamacare penalty eliminated letting families pick and choose what insurance to buy instead of the mandated packages.

Could someone clarify what this pass-through deduction is? Maybe with some napkin math for an example?

Does it mean that, if you have income from an llc, AND you have stuff you could use as deductions, that you can apply deductions to up to 20% of the income from the llc? Or does it mean something else?

The way they word it, it almost sounds like it means that your income causes you to receive a deduction, which sounds crazy and backwards. Wouldn't that pretty much mean that 20% of llc income is tax free?

anonymous says

"every major tax bill will have provisions that will screw over all classes, and enrich all classes."

How come the ordinary guy aka the "middle class" never get any part of the enrichment, double that down for anyone below "middle class" ?

Starting with Patron Saint of Trickle Down (Reagan) there hasn't been much of that trickle down in terms of wage growth or anything else of significant importance that has made it below the top tier in this country.
..

Why do you keep blatantly stating things that are false? Last year I paid somewhere around $14k in Federal Invome Tax. Under the new plan the congress is working on I will pay around $11.5k. Nearly 20% less. I consider that a substantial reduction.

Families making under around $50k a year won’t actually see anything because they don’t pay ANY federal income tax and if they make under $40k the federal governemnt actually hands them money in the form of the Earned Income Credit.

This factually true and in context information has been repeatedly posted here so there should be no claims of ignorance.

anon_8f378 says

BlueSardine says

Personal deduction doubled
next...

personal exemption gone.

Next...

Next...

Personal exemption for a couple is $8,100, will be gone.

In place of that, the standard deduction for the same couple goes from $12,700 to $24,000.

Will that give you a larger or smaller deduction on your taxes next year?

Fucking White Male says

Why do you keep blatantly stating things that are false?

Severe TDS???

HEYYOU says

"That’s right: If Republicans in Congress get their way, I just saved a couple million dollars on the change in the inheritance tax alone. What about you?"

"As a proud American and a student of Europe, I care deeply about the cost to the fabric of our society that this windfall for the wealthy will bring. If you believe you’re being represented by a Republican Congressperson who votes for this plan, you are mistaken."

It's sad that Republican voters think that Trump & his ilk will do anything to make
Rep/Con lives any better.

https://www.facebook.com/ricksteves/photos/a.10151281817257745.486423.45052217744/10155702827472745/?type=3&theater

Because taxing someone twice on the same money is totally fair, just and, right?

Quigley says

1) Personal deduction doubled. This will help the lower to middle class workers the most. And will help renters a lot since they rarely can itemize.

But exemptions gone. Net result - higher taxable income.

Quigley says

4) child tax credit doubled, helps out parents struggling to to fund their families

But exemptions for children gone, which negates most of the credit increase, except for the upper middle class who were previously capped out of the credit. But they usually itemized, so they are screwed in other ways.

Fucking White Male says

Because taxing someone twice on the same money is totally fair, just and, right?

Every dollar in existence has been taxed an infinite number of times. That line of thinking is silly.

anon_8f378 says

Fucking White Male says

Because taxing someone twice on the same money is totally fair, just and, right?

Every dollar in existence has been taxed an infinite number of times. That line of thinking is silly.

It’s not. We’re talking about someone saving/investing after tax income and leaving it to whomever they decide. The only ones against this are leftists that don’t believe money/wreath belongs to individuals(unless it is their own wealth/income)

Fucking White Male says

It’s not. We’re talking about someone saving/investing after tax income and leaving it to whomever they decide

You need to learn a lot more about how the wealthy do inheritance if you think it's after tax income. Most is unrealized capital gains which will never be taxed without inheritance tax. You reset the basis when you inherit and only pay capital gains from the time of death. Go read about step up.

anon_e144f says

Fucking White Male says

It’s not. We’re talking about someone saving/investing after tax income and leaving it to whomever they decide

You need to learn a lot more about how the wealthy do inheritance if you think it's after tax income. Most is unrealized capital gains which will never be taxed without inheritance tax. You reset the basis when you inherit and only pay capital gains from the time of death. Go read about step up.

Largely non responsive.

anonymous says

"Instead of spewing party line propaganda, maybe comparing the old and new tax rates and deductions would help you"

Didn't think you could do it, the TDS is strong with this guy!!

anonymous says

"A mind is like a parachute, it only works when it open", (and not full of TDS)."

Fucking White Male says

It’s not. We’re talking about someone saving/investing after tax income and leaving it to whomever they decide. The only ones against this are leftists that don’t believe money/wreath belongs to individuals(unless it is their own wealth/income)

No, it is. They can leave it to whomever they decide--they just have to pay taxes on it.

An estate tax is actually one of the best forms of taxation--taxing wealth rather than income.

anonymous says

Now don't take this the wrong way but...

You should read this article, it explains your severe TDS:

Loneliness can damage health, triggering inflammation and neurological changes.
Loneliness can tank your mood, but can it affect your health, too?

All signs point to yes.

It turns out that feeling lonely can do more than make you sad: It can predict the way your body will respond to and bounce back from various health challenges. Lonely people are more likely to get sick, and researchers want to know why.
For years, researchers have linked loneliness to poor health. People who say that they’re lonely are more likely to have dementia and inflammation, and to die prematurely. And in research presented to the American Psychological Association this summer, Julianne Holt-Lunstad, a professor at Brigham Young University who participated on the Aspen panel, posited that loneliness is a bigger public health risk than obesity.

Feeling lonely isn’t the only risk to your health; so is living alone and being socially isolated.
https://www.washingtonpost.com/national/health-science/loneliness-can-damage-health-triggering-inflammation-and-neurological-changes/2017/12/15/e7211b84-df61-11e7-8679-a9728984779c_story.html?utm_term=.c0b1fca4c4c7

anonymous says

Special Giveaways in Tax Cut Bill Benefit Family Members and Colleagues of Key GOP Senators

The tax plan before Congress, though sold as broad legislation to reduce rates and end favoritism in the tax code, contains targeted provisions designed to benefit special interest groups, many of which maintain close ties to senior Republican lawmakers.

Take, for example, the special tax cut for the alcohol industry hidden in the bill.

The tax cut legislation includes a provision that cuts taxes on beer, wine, and liquor produced or imported into the country, saving companies involved around $4.2 billion over 10 years. The provision mirrors language from the Craft Beverage Modernization and Tax Reform Act, or S. 236, introduced by Sen. Roy Blunt, a Republican from Missouri and a member of the Senate GOP leadership team. (While the legislation does benefit craft, or small breweries, it extends the cuts to larger companies and the industry as a whole.)

Key GOP lawmaker...

What is more interesting than the give aways is the take aways. Moving expenses, job hunting expenses, commuting expenses, property loss not covered by insurance (unless it's a presidentially declared disaster, it's good to be the king). All things that rarely affect the 1% I notice. State and local taxes is a big up your ass to democratic states. The big time fuck you is the elimination of pretty much all job related expenses if you work in the entertainment industry.

I have never seen a bill so carefully crafted with so much direct revenge against the other party. or screwing so much of their own base that aren't the big players. This is going to come back and bite them in the ass.

If Californians want lower taxes they should stop electing Democrats that increase state and local taxes to make the state Top 5 for individual tax burdens in the country.

Trump is too greedy. I predict there will be a coup or assassination.