Discussion: The REPUBLICAN Party - - - Part 18

[summerteeth]

The killing of AMT is rather big. A sort of subtle way to cut taxes to the rich, without explicitly saying they are cutting taxes to the rich. A lot of the language in their cover sheet is there to hide their tax cuts to the rich.

Cutting the State and Local taxes is going to be big, though.

Oh, and cutting student loan interest deduction.

Cutting the State and Local taxes deductions should be offset by the standard deduction for most people in the middle class. I live in California and I always just end up taking the standard deduction anyways. I'll fall in the 12% to 25% bracket under this new tax plan, looking at a pretty big tax cut for me and I fall squarely in the middle class. Same can be said about the student loan interest deduction by increasing the standard deduction counters it.

 

[Sithborg]

Which is a pity. Between property taxes and state withholding, you can quickly exceed the standard deduction. Especially in CA.

 

[Sithborg]

Holy ****, they are killing the personal exemptions.

So yeah, that is going to be a massive increase in the middle class. Even with doubling the standard exemption. The increase in the child tax credit and standard deduction is not going to cover that.

 

[Sithborg]

https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf

If you want to attempt to read it.

Taking off the limit on personal deductions seems like the token tax cut for the rich.

Also, RIP the budget.

 

[summerteeth]

Which is a pity. Between property taxes and state withholding, you can quickly exceed the standard deduction. Especially in CA.

Lets get the facts straight, property tax is still deductable

 

[SV Fan]

Thing I don't get about the Republican Tax plan is it seems to go out of it's way to target people who live in High Tax states and have expensive Houses. What Republicans living in one(if not both) of these kind of places would want to vote for this(ie shouldn't it be congressional district over party?)

 

[Sithborg]

Lets get the facts straight, property tax is still deductable

Property tax is, not state taxes. IE, that part of the check that is withheld and goes to the state.

And it is clear that the GOP is no longer the party about reigning in the deficit, as this will murder the budget.

 

[Donner]

Holy ****, they are killing the personal exemptions.

So yeah, that is going to be a massive increase in the middle class. Even with doubling the standard exemption. The increase in the child tax credit and standard deduction is not going to cover that.

Taxes will go up for the middle class?

Isn't it supposed to be the "cut" bill? I mean, I know it's Trump, but I'm sure the middle class morons who voted for him won't like this.

 

[Sithborg]

I mean, I'm not sure how many people actually itemize, though. So, they might not technically because they have been shorting themselves.

Still even then, those with more than 2 kids will see it just based on the loss of the exemption.

 

[summerteeth]

Property tax is, not state taxes. IE, that part of the check that is withheld and goes to the state.

And it is clear that the GOP is no longer the party about reigning in the deficit, as this will murder the budget.

I am aware, you are the one that brought up property tax, but I think you may have just been commenting on me not taking an itemized deduction. I don't own a house though or have kids so like I said I always take the standard deduction because it saves me more money than the itemized deduction.

 

[Sithborg]

That would make it tougher to get to the new standard deduction, true.

The elimination of so many deductions still really, really pisses me off. Killing off medical expense deduction? While they are trying to kill health care. **** you Ryan.

And in a sneaky gift to the rich, along with killing the AMT, it looks like they are getting rid of limitations on how much you can deduct.

So, now the theocrats can evade taxes by giving it to their church.

 

[fancyarcher]

Republicans just want to kill everyone. They're so soulless, but that's obvious.

 

[KevanG]

You have to remember the 'metaphor' they used. If one person in ten benefits then it'll be fine.

Of course, the one person is the rich bastard that paid them tons of money over the years. They couldn't give less of a **** about the average person.

 

[Hypestyle]

I don't have high hopes for the tax proposal. I don't see anything to support, if I were in office. Provisions to help the poor should be protected at all costs. The poor aren't talked about enough in these narratives.

 

[SV Fan]

https://www.usatoday.com/story/news...help-prevent-sexual-assault-africa/825036001/

Energy Secretary Rick Perry says fossil fuels could help prevent sexual assault in Africa

Energy Secretary Rick Perry proposed Thursday that expanding fossil fuels could help prevent sexual assault.

Perry’s comment came as he recounted his recent trip to Africa during an event with Meet the Press host Chuck Todd and Axios CEO and founder Jim VandeHei.

Perry said he met a young girl who told him energy was important to her because she reads by the light of a fire with toxic fumes.
And then he pivoted to discussing sexual assault.

Here's the full quote, as published by The Hill:

But also from the standpoint of sexual assault. When the lights are on, when you have light that shines, the righteousness, if you will on those types of acts. So from the standpoint of how you really affect people's lives, fossil fuels, is going to play a role in that. I happen to think it's going to play a positive role.
​

 

[:eek:]

https://www.usatoday.com/story/news...help-prevent-sexual-assault-africa/825036001/

Because fossil fuels is the magic solution to everything.

 

[Sithborg]

I just saw that the child tax credit can't be refunded if you don't owe tax, so it sounds like it just hits your AGI.

**** you Ryan.

 

[summerteeth]

I just saw that the child tax credit can't be refunded if you don't owe tax, so it sounds like it just hits your AGI.

**** you Ryan.

That's not exactly the case. Under current law you can receive the full credit ($1,000.00) as long as you earn over $9,000.00 then it is a refundable tax credit. That's the same here for the first $1,000.00 of the credit, nothing changes. The maximum refundable portion of the credit under this new bill is $1,000.00. The additional $600 is non-refundable. Also the $300.00 family flexibility credit and the $300.00 non-child dependent credit is also non-refundable.

 

[Hypestyle]

https://www.usatoday.com/story/news...help-prevent-sexual-assault-africa/825036001/

Ah mr. Perry, how absolutely generous of you. good lord.

 

[The Incredible Hulk]

I'm amazed that these people like Perry have the mental capacity to breath and walk at the same time.

 

[Orba]

Something that explains a lot about how the GOP see the world

Republican House Members Think a $450K Salary is Middle Class

 

[summerteeth]

Something that explains a lot about how the GOP see the world

Republican House Members Think a $450K Salary is Middle Class

I don't even know what they heck you or these other people on twitter are talking about. It's like they are being deliberately obtuse. If you make $450,000.000 you pay 35% today. Under the proposed plan...guess what? You pay 35%. If you make more than $237,950.00-$424,000.00 your rate goes up from 33% to 35%. At worst it is poorly worded. I see though what they are trying to say but their figures are wrong. If you make $480,000 to $1,000,000 your rate decreases from 39% to 35%. Why they chose a number that falls in a completely different tax bracket, I have no idea. Why we play this sort of gotcha politics. I have no idea. Instead of understanding the issues or discussing the issues in depth we look for things like this to pounce on. Like I said, it's poorly worded.

 

[Sithborg]

Remember Nunes' talk about how people should buy health insurance instead of an iphone?

These people are not at all aware of the reality of their constituents.

 

[Thundercrack85]

You know this Trump Twitter thing is funny, but what happens if someone hacks Trump's Twitter and declares war on North Korea?

 

[Thundercrack85]

Remember Nunes' talk about how people should buy health insurance instead of an iphone?

These people are not at all aware of the reality of their constituents.

Well it's really the fault of their braindead constituents.