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Tax bill passes in senate 51-49

  • Thread starter Thread starter Deleted member 848
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Gas said:
This is bullcrap. I cant believe he is giving a break to corporations. They should be taxed even higher. Make them pay for everything. Then none of us would have to work. Ugggh, but instead we will probably just get more businesses popping up meaning more crap we have to do.
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Lower taxes don't create jobs - never has and it never will. Bush signed two massive tax cuts for the top 1% and corporations. Remember the "job creators" - how many jobs were created under his watch?

Increased demand creates jobs - middle and lower middle class people spending money on goods and services. This tax bill will do just the opposite. No more deductions for state and local taxes, no more deductions for interest on college loans and many other things to stick it to the guys and gals in the middle that all discourage consumption.
 
Gas said:
This is bullcrap. I cant believe he is giving a break to corporations. They should be taxed even higher. Make them pay for everything. Then none of us would have to work. Ugggh, but instead we will probably just get more businesses popping up meaning more crap we have to do.

Im done with this working nonsense. Im going to start my own corporation. Its evil I know, but thats where the money is, and its so easy to do. You dont have to even work. Other people do the work for you.
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While corporations could basically "pay for everything" we live in a global economy and those corporations can leave the U.S.. I'm not saying we need the lowest possible corporate taxes, just that we shouldn't have abnormally high corporate taxes, we need to be comparable to other potential destinations for corporations.
 
str8line said:
Large majority of Americans are getting fleeced by this. Can't wait to see all of the pork added, too. We live in strange times. Dumb people are so dumb.
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Full disclosure: I am in no means a fan of this bill and have been outspoken against it for basic economic reasons.

What you two say is not necessarily correct. The bill appears to be a huge windfall to everyone except the poor, who will most likely be left even further behind by it. The middle class with children will probably pay much less in taxes. Empty nesters who don't itemize will certainly have lower taxes. Those with 401k's will benefit. States with pension solvency issues will benefit (which means less taxation issues as well). This will all be deficit financed which makes this plan in this economic environment completely ludicrous.

The only silver lining I can see in this bill is that people like me who are going to get a $2000 - $3000 tax break that we don't need might decide to spend that money to hire labor, which increases demand and thus increases labor costs. Or, we might decide to save more to retire a little earlier. If we spend it then inflation will push higher, allowing the Fed to normalize interest rates.
 
franklin said:
The only silver lining I can see in this bill is that people like me who are going to get a $2000 - $3000 tax break that we don't need might decide to spend that money to hire labor, which increases demand and thus increases labor costs. Or, we might decide to save more to retire a little earlier. If we spend it then inflation will push higher, allowing the Fed to normalize interest rates.
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or people like you who disagree with the tax bill can protest the tax bill by sending the money you get to the IRS.

i at least hope all those rich political democrats who voted against the bill will do it! after all if they do not, it was just virtue signaling
 
Bulletproof said:
If, after net neutrality ends, Comcast and Verizon take it to an extreme that the vast majority of people don't like there will be pressure to change it. And once this administration ends, and the mid-terms swing congress and the senate, there will be people in our government favorable to changing it back.

Very different than "tax cuts" that many people are in favor of.

Now if Comcast isn't stupid they'll try to tow the line as far as how they fleece everyone with their fast lanes and whatever. If they don't overstep they'll probably be able to avoid a backlash.
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They will all overstep, and the lobbyist will line enough pockets to make sure they all avoid any backlash. Look at the bank bail-out. Does anyone really think that a large percentage of politicians did not get rich in those back-room deals?
 
House Plan
You'd save $548

Senate Plan
You'd save $415

Well, it won't be a Ferrari. Maybe just a Buick, which is what I already have.
 
I lose $1300 on the House plan. Save $6300 on the Senate Plan. I am all for getting rid of the AMT.
 
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LogGrad98 said:
Here you go, what is your savings going to be in fantasyland?

http://taxplancalculator.com/

Here is mine:

That's it, I am buying a Ferrari!
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That calculator seems pretty accurate. I've been going over 1040's all weekend and reviewing the tax code, plus using other ones afterward. My personal savings from this one match my own tax estimation (I don't know my exact rate) and that of other calculators.

This tax plan is utter bull ****. Run the numbers for a single mother of 2 making $22,000 per year on a Walmart salary. I get a benefit, corporations (in many instances) and the massively rich (in many instances) get a benefit, but those in need get nothing. To me, it is utter horse **** to help those not in need and ignore those who could actually use assistance. Welcome to American politics (I'm staring at you Social Security).
 
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