Tax cuts

[bigbluebazooka]

December 20th – Trumpnomics has already given America: 1) A 17-year low in both unemployment and black unemployment and the lowest Latino unemployment rate ever 2) Consistent GDP growth over 3% with expectations of 4th qtr. growth being near 4% 3) A booming stock market & 4) A majority of Americans now seeing the economy as “good” or “excellent” And now historic tax reform is in the bank! The bill lowers individual rates, doubles the standard deduction, the child tax credit and the estate tax exemption and abolishes the Obamacare mandate. But the biggest economic benefit is the slashing of corporate rates. With this nation finally on equal footing with the rest of the world more US companies will be coming home and hiring Americans! The result? A more competitive job market that will boost wages. Nonetheless Schumer predictably calls the bill “a disgrace” and Pelosi even more predictably says it will “ransack the middle class to reward the rich.” Bull! This is tax reform for Americans with a WORK ETHIC, and not for those who want to sponge off the sweat of others!

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[Muck FcDisney]

So Russia's maniacal plot was to supercharge the US economy and strengthen its military? :thought

[bigbluebazooka]

So Russia's maniacal plot was to supercharge the US economy and strengthen its military? :thought

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[CraigKressel]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

[Eye_of_Horus]

So Russia's maniacal plot was to supercharge the US economy and strengthen its military? :thought

Thanks Obama!

[FSUKW]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

[Muck FcDisney]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

You might qualify now. While it currently phases out for couples making over $110,000, under the new law it will phase out for couples making over $400,000.

If you still don't qualify, congrats big pimpin'! :rockin

PS- when can I borrow the Lear?

[JdPat04]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

You might qualify now. While it currently phases out for couples making over $110,000, under the new law it will phase out for couples making over $400,000.

If you still don't qualify, congrats big pimpin'! :rockin

PS- when can I borrow the Lear?

:thought

Not sure if we will still qualify now!

[Muck FcDisney]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

You might qualify now. While it currently phases out for couples making over $110,000, under the new law it will phase out for couples making over $400,000.

If you still don't qualify, congrats big pimpin'! :rockin

PS- when can I borrow the Lear?

:thought

Not sure if we will still qualify now!

Well, if you don't, you're making >$400,000, so you should be fine.

[JdPat04]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

You might qualify now. While it currently phases out for couples making over $110,000, under the new law it will phase out for couples making over $400,000.

If you still don't qualify, congrats big pimpin'! :rockin

PS- when can I borrow the Lear?

:thought

Not sure if we will still qualify now!

Well, if you don't, you're making >$400,000, so you should be fine.

It'll be close for sure :banghead

[FSUKW]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

You might qualify now. While it currently phases out for couples making over $110,000, under the new law it will phase out for couples making over $400,000.

If you still don't qualify, congrats big pimpin'! :rockin

PS- when can I borrow the Lear?

Thanks, I have not read a single thing about this new tax law other than what is on TSH.

I don't make 400K. I have the type of job that would allow me to, but I don't feel like working 100 hour work weeks to do more business to get there.

[CraigKressel]

It pisses me off that people without kids subsidize people with kids. Can we just end these tax breaks for having kids and just cut everyones taxes equally by that much.

Please be more specific in your rant. I have two kids. I do not qualify for the Child Tax Credit.

However, playing devils advocate. People with kids spend more in the economy and pay more into the sales tax system. Oh wait, I just made another point for a National Sales Tax system.

Yes you did, you pay more for them and you should on a local level, but you pay less for them on a federal level.

Having a family requires more services from the federal government.

There is more than just the Child Tax Credit there is also claiming them as a dependent which gives you a tax break.

"If you have a family, you need to know how the IRS defines “dependents” for income tax purposes. Why? Because it could save you thousands of dollars on your taxes. For every qualified dependent you claim, you reduce your 2017 taxable income by $4,050. This can add up to substantial savings on your tax bill."

So if you are paying 25 percent in taxes for example you would save $1000 or so per kid without the child tax credit eligibility.

Imagine this as someone with kids can deduct your child's day care expenses, then get a child tax credit, then claim them as a dependent. Who the fuck is paying your taxes then if you have like 3 kids? Single people of course.

[Carr2Cooper]

Germany workers are afraid of losing their jobs because of the tax cuts :biglol