Mark the day this tax scam is signed as one of the darkest in American history

cawacko said:
It's a huge part of the tax bill. And you said you live in California so you ought to be familiar with it. Our state deductions on our federal tax returns are going away along with property tax deductions above $10K.

So for many in California their taxes are going up.
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Really only the top 4-5% as the elimination of the SALT deduction is offset as a result of the alternative minimum tax inflation adjustment which raises the income threshold to $500 thousand for a single filer and $1 million for joint filers.
 
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tsuke said:
you should inform yourselves on the issue then :)
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You should learn to capitalize acronyms, especially when they are words commonly used for other purposes. Why are you so happy for $6 trillion to be redistributed from the American people to the top 1% and creating plutocracy of our country?
 
Craig234 said:
The top 1% eventually get 83% of the benefits of the $6 trillion redistribution of wealth to the top. Have I said yet you are an idiot?

https://www.vox.com/policy-and-poli...ax-bill-congress-conference-tax-policy-center

This is what's dangerous about the idiocy of people like you.

You'll sit and argue as if the bill doesn't do what it does and you'd oppose the idea, but you'll keep on supporting it refusing to understand what it does and to care to find out.

So, you're just acting as a foolish pawn supporting the devastation to the American people.
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"Teh rich" got the smallest cut. Keeping your own money is not "redistribution". No amount of heel clicking will make it so.
 
Craig234 said:
OK, I read the post quickly and when it's an acronym it's usually capitalized SALT, so I assumed it was somethings kids say today, they throw around 'salt' a lot.

Ya, this is a very political bill in attacking all the Democrats they can and taking their money - and as usual the right finds it fashionable to find poverty of others the system has built in entertaining and a subject to mock.
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There are rich people who will be paying more in taxes in CA (and NY, NJ). And it should bring down, a little, our housing prices. That's not a bad thing.

(Well considering i own two homes it's not good for me personally but it's good for the Bay Area and the state as a whole)
 
Craig234 said:
It'd be good to be clear that you don't mean trump was 'good' but that the backlash to trump might be good. Righties would seize on your words as praise for trump.

I don't really agree, though. I don't think this disaster has any benefit from the backlash that makes it good or justifies it - it's just a positive bit hopefully, but the harm is still huge.
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Thanks, but what I mean is this nation needs the trauma of Trump to awaken to the presence of evil within our midst.

The harm will be huge, but it's exactly what America badly needed to move beyond our racist, sexist history.
 
cawacko said:
There are rich people who will be paying more in taxes in CA (and NY, NJ). And it should bring down, a little, our housing prices. That's not a bad thing.

(Well considering i own two homes it's not good for me personally but it's good for the Bay Area and the state as a whole)
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Do you make more than $1 million annually? If not you're likely going to be covered by the AMT adjustments:

Under the AMT, a taxpayer can no longer deduct state and local income taxes, medical expenses, mortgage interest on home equity loans and various other employee business expenses and investment expenses. You can easily picture working hard and being successful, enjoying a steadily rising income over a period of years, and then one year you finally get another big sales commission or that big raise you were hoping for, and suddenly you’re wealthy enough to hit the AMT, and then BOOM — your tax bill is much larger because you can’t deduct everything you’ve grown used to deducting in previous years.

The taxpayers who feel the biggest bite from the AMT are HENRYs – “high earners, not rich yet” folks who make a lot of money by national standards but don’t live a particularly luxurious lifestyle because they live in areas with a high cost of living… like California, New York, New Jersey, and other densely-populated coastal states and big cities. These, of course, are also many of the same places with high state and local tax rates, who will be hit the hardest by the cap on deducting state and local taxes.

Here’s the good news: under the new tax law, significantly more income is exempt from the calculations of the alternative minimum tax. “Under the old law, you can exempt $54,300 as a single filer and $84,500 as a married couple filing jointly. The new bill increases those exemptions by almost a third, to $70,300 and $109,400.”

The old AMT system also would reduce your exemption if your income hit a certain threshold: $120,700 for singles and $160,900 for couples. (In a lot of parts of the country, a husband and wife making $81,000 each are doing pretty good, but they’re not living a life of champagne dreams and caviar wishes.) Under the new law, those exemption thresholds are now way higher, $500,000 for an individual and $1 million for a couple.

http://www.nationalreview.com/corner/454797/amt-change-gop-tax-bill-will-help-blue-state-taxpayers
 
Craig234 said:
The short of it is, there are ways to say it clearly. Go away.
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I was clear. You simply had an unclear perception of what was being said.

No one else here was confused, and right-wingers aren't going to jump on anything I've ever said as a compliment to Trump.
 
cawacko said:
It's a huge part of the tax bill. And you said you live in California so you ought to be familiar with it. Our state deductions on our federal tax returns are going away along with property tax deductions above $10K.

So for many in California their taxes are going up.
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im not that sure it would affect that many. If CA follows the national average then 70% should already be using standardized deductions so they dont deduct a penny for SALT deductions. There should be another 15-20% who standardize deductions now that it is expanded.

Really the only ones who should worry about this are those who make the most money in CA and im pretty sure they have all said they want to be taxed more so we are merely fulfiilling their wish.
 
PraiseKek said:
Do you make more than $1 million annually? If not you're likely going to be covered by the AMT adjustments:

Under the AMT, a taxpayer can no longer deduct state and local income taxes, medical expenses, mortgage interest on home equity loans and various other employee business expenses and investment expenses. You can easily picture working hard and being successful, enjoying a steadily rising income over a period of years, and then one year you finally get another big sales commission or that big raise you were hoping for, and suddenly you’re wealthy enough to hit the AMT, and then BOOM — your tax bill is much larger because you can’t deduct everything you’ve grown used to deducting in previous years.

The taxpayers who feel the biggest bite from the AMT are HENRYs – “high earners, not rich yet” folks who make a lot of money by national standards but don’t live a particularly luxurious lifestyle because they live in areas with a high cost of living… like California, New York, New Jersey, and other densely-populated coastal states and big cities. These, of course, are also many of the same places with high state and local tax rates, who will be hit the hardest by the cap on deducting state and local taxes.

Here’s the good news: under the new tax law, significantly more income is exempt from the calculations of the alternative minimum tax. “Under the old law, you can exempt $54,300 as a single filer and $84,500 as a married couple filing jointly. The new bill increases those exemptions by almost a third, to $70,300 and $109,400.”

The old AMT system also would reduce your exemption if your income hit a certain threshold: $120,700 for singles and $160,900 for couples. (In a lot of parts of the country, a husband and wife making $81,000 each are doing pretty good, but they’re not living a life of champagne dreams and caviar wishes.) Under the new law, those exemption thresholds are now way higher, $500,000 for an individual and $1 million for a couple.

http://www.nationalreview.com/corner/454797/amt-change-gop-tax-bill-will-help-blue-state-taxpayers
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They've had it the local papers and local news, if you make over $100K and itemize because you own a home you are likely to see an increase.

Edit: the $100k seems like a low number but medium home is now around $900K so those reductions hurt
 
All these white men just picked Americans pockets.

Notice how they put 1 Black and 1 women up front. That's their diversity.

This would not be happening under Hilary PERIOD!
 
TTQ64 said:
All these white men just picked Americans pockets.

Notice how they put 1 Black and 1 women up front. That's their diversity.

This would not be happening under Hilary PERIOD!
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Damn straight! Under Hillary we'd have full FedCo healthcare, $15/ hour minimum wage, and no jobs!
 
Sticking it to the worlds 6th largest economy is the most stupidest thing I've ever heard.

Then again, conservative republicans always think they are the smartest in the room.

Why do people listen to them?
 
Santa Trump and his GOP elves just left a yuge present under my tree.


IMnAaod.jpg
 
blackascoal said:
Thanks, but what I mean is this nation needs the trauma of Trump to awaken to the presence of evil within our midst.

The harm will be huge, but it's exactly what America badly needed to move beyond our racist, sexist history.
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HUH?

I don't see how letting a bunch of racist white men continue to steal America helps us move beyond racism?

They should have been voted out not in.
 
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