Tax Bill is a loser

[bluehenbillk]

What you're witnessing in Washington is one of the greatest fumble sequences in political history. It's not the Democrats that are stopping the GOP, it's themselves. I'm disappointed they couldn't do anything to fix healthcare but from a selfish point of view I hope that if these plans are the best they can come up with that they strike out on taxes too.

Democrats have a real good shot of taking back the House in 2018.

[CAA Flagship]

What you're witnessing in Washington is one of the greatest fumble sequences in political history. It's not the Democrats that are stopping the GOP, it's themselves. I'm disappointed they couldn't do anything to fix healthcare but from a selfish point of view I hope that if these plans are the best they can come up with that they strike out on taxes too.

As it relates to the tax bill, you are wrong.

[CAA Flagship]

For fucks sake, 3 brackets is more than enough..7 is the same we have now.

Yup.

Is the Senate Bill even that much of a change from the current system?

Conks, failing on tax reform just like they did on obamacare repeal and replace.

Expect a blue wave in 2018.

Who cares about the number of brackets? That has little to do with anything. The number of tax brackets is not a measure of complexity of the tax code.

[∞∞∞]

I just saw that the GOP is supposed to have a tax calculator out next week so people can calculate the impact on their tax bill.

Surprisingly, the GOP's yet to release their tax calculator.

[HI54UNI]

I just saw that the GOP is supposed to have a tax calculator out next week so people can calculate the impact on their tax bill.

Surprisingly, the GOP's yet to release their tax calculator.

I'm not surprised. The GOP isn't capable of finding their own asses let alone build a tax calculator.

[kalm]

Glad to see we're sticking it to those fat cat teachers!

https://www.dallasnews.com/news/educati ... s-students

[Chizzang]

The Fact Checking on this Tax Bill has become hilarious...
If this thing passes - holy cow sh!t - major repercussions

The hilarity

[CAA Flagship]

Glad to see we're sticking it to those fat cat teachers!

https://www.dallasnews.com/news/educati ... s-students

“The elimination of the tax [deduction] for teachers who spend money out of their own pockets for supplies is a big blow,”

How many thousands of dollars does a teacher spend on supplies?

[kalm]

Glad to see we're sticking it to those fat cat teachers!

https://www.dallasnews.com/news/educati ... s-students

“The elimination of the tax [deduction] for teachers who spend money out of their own pockets for supplies is a big blow,”

How many thousands of dollars does a teacher spend on supplies?

According to article, the average in Texas is around $700 for teachers and $1000 for administrators.

[CAA Flagship]

How many thousands of dollars does a teacher spend on supplies?

According to article, the average in Texas is around $700 for teachers and $1000 for administrators.

I'm pretty sure the tax rate reduction will cover the loss in deductions. That's what happens when you simplify the tax code. The teachers are pissed because they can't cheat on their deductions and claim more then what they spent. Fuck them.

[Chizzang]

So you like Mountains...
There's a a little bump called San Jacinto Peak it's 10,800 feet towering above Palm Springs
It can be hiked and camped - There's a ridge trail that runs about 75 miles along the western slope
that has creeks and ponds and views to the Pacific Ocean on one side and Palm Springs on the other

It's widely considered some of the best mountain hiking in the world
I can see how you might not have noticed it when you were there...

Yes, I know. It's pretty. Still isn't my cup of tea. I can be in the Mountains in 2 hours. Aside from my desire to visit Napa...I don't care to see anymore of California. I've been to LA. I go to San Diego but that's mostly to see a college buddy. Hell, I've spent a month at 29Palms.

THat's a nice peak. I can be here within 2 hours:

Mt. Pisgah isn't a bad hike

Graveyard fields is a favorite of mine - you walk through fields of wild berries before a 2 mile hike that is pretty steep at some points.

Still - doesn't detract that I simply prefer something else. Not trying to be smug about it...

Hey, I understand
Some people like high humidity and mosquito's...
and those are called "hills" BTW and they are adorable

[Ibanez]

Yes, I know. It's pretty. Still isn't my cup of tea. I can be in the Mountains in 2 hours. Aside from my desire to visit Napa...I don't care to see anymore of California. I've been to LA. I go to San Diego but that's mostly to see a college buddy. Hell, I've spent a month at 29Palms.

THat's a nice peak. I can be here within 2 hours:

Mt. Pisgah isn't a bad hike

Graveyard fields is a favorite of mine - you walk through fields of wild berries before a 2 mile hike that is pretty steep at some points.

Still - doesn't detract that I simply prefer something else. Not trying to be smug about it...

Hey, I understand
Some people like high humidity and mosquito's...
and those are called "hills" BTW and they are adorable

High humidity and mosquito's are dreadful...that's why I prefer the mountains.

Hills...? These are old, mature and seasoned mountains. They've earned the right to slow down, let moss grow and take 'er easy.

[GannonFan]

How many thousands of dollars does a teacher spend on supplies?

According to article, the average in Texas is around $700 for teachers and $1000 for administrators.

My wife is a teacher (my whole family have been teachers and administrators). Now granted, we're in SE PA, which is quite possibly the best place to be if you're a teacher ($$ and pension are awesome). No way does she spend close to $700 a year on unreimbursed supplies and materials. $200, $300, sure, but to average $700 is crazy. And what the heck are administrators buying?

[OL FU]

Hey, I understand
Some people like high humidity and mosquito's...
and those are called "hills" BTW and they are adorable

High humidity and mosquito's are dreadful...that's why I prefer the mountains.

Hills...? These are old, mature and seasoned mountains. They've earned the right to slow down, let moss grow and take 'er easy.

Absolutely, the snow capped mountains out west are a wonderful view. Could look at them all day.
But I'm a wuss and get cold easily. If I'm walking around, I'll take the southern Smokey Mountains.

[Ibanez]

High humidity and mosquito's are dreadful...that's why I prefer the mountains.

Hills...? These are old, mature and seasoned mountains. They've earned the right to slow down, let moss grow and take 'er easy.

Absolutely, the snow capped mountains out west are a wonderful view. Could look at them all day.
But I'm a wuss and get cold easily. If I'm walking around, I'll take the southern Smokey Mountains.

Blue Ridge or No Ridge....

[OL FU]

Everybody has their favorite deduction and truthfully most of them should go away. It's the reason they are doing corporate tax reform and lowering the rate by like 75%. Now some pay 0% some pay 35%. Get rid of the credits and make everybody pay 20%.

With that said, the biggest problem once again is that they can't lower the individual rates in some meaningful way because of the deficit, so maintaining the deductions becomes an issue.

Always have favored lowering the tax burden on people, but until someone has the balls to look at the cost side of the picture, the ability to lower taxes is largely a relatively immaterial benefit to most.

[OL FU]

Absolutely, the snow capped mountains out west are a wonderful view. Could look at them all day.
But I'm a wuss and get cold easily. If I'm walking around, I'll take the southern Smokey Mountains.

Blue Ridge or No Ridge....

You're from South Carolina. So you know the Blue Ridge escarpment here is a rather impressive ( for old and weathered mountains)

[SDHornet]

According to article, the average in Texas is around $700 for teachers and $1000 for administrators.

I'm pretty sure the tax rate reduction will cover the loss in deductions. That's what happens when you simplify the tax code. The teachers are pissed because they can't cheat on their deductions and claim more then what they spent. Fuck them.

This.

[SDHornet]

Yup.

Is the Senate Bill even that much of a change from the current system?

Conks, failing on tax reform just like they did on obamacare repeal and replace.

Expect a blue wave in 2018.

Who cares about the number of brackets? That has little to do with anything. The number of tax brackets is not a measure of complexity of the tax code.

I disagree. More brackets means people are more likely to "claim" questionable deductions to get into a lower bracket. How the hell is that simpler?

[∞∞∞]

Non-partisan CBO came out with their assessment today:

-It will negatively affect people making under $30,000 by 2019.
-It will negatively affect people making under $75,000 by 2027.
-It will increase taxes for 50% of Americans by 2027.
-It will increase the deficit by 1.45T by 2027.
-It will decrease the number of insured by 4M by 2019 and 13M by 2027.

https://www.msn.com/en-us/news/politics ... ar-BBFMsg2
http://www.cnn.com/2017/11/27/politics/ ... index.html

[93henfan]

Non-partisan CBO came out with their assessment today:

-It will negatively affect people making under $30,000 by 2019.
-It will negatively affect people making under $75,000 by 2027.
-It will increase taxes for 50% of Americans by 2027.
-It will increase the deficit by 1.45T by 2027.
-It will decrease the number of insured by 4M by 2019 and 13M by 2027.

https://www.msn.com/en-us/news/politics ... ar-BBFMsg2
http://www.cnn.com/2017/11/27/politics/ ... index.html

Not bad! I like it.

[bluehenbillk]

America taking it up the shitter on this one. Real estate market will be rocked within 12 months - need 89Hen's viewpoint on that one....

[BDKJMU]

America taking it up the shitter on this one. Real estate market will be rocked within 12 months - need 89Hen's viewpoint on that one....

So should we keep artificially inflating the real estate market?

[CID1990]

America taking it up the shitter on this one. Real estate market will be rocked within 12 months - need 89Hen's viewpoint on that one....

When your personal financial well being is tied to the real estate industry - even when you don't own a house or property.....

Maybe it is time to pay attention to WHY that is a thing

[Pwns]

The real estate market is going to have a bleak future either way.

You've got a population that skews old and you've got a generation of millennials that have less wealth and credit than their parents generation did at their ages. And you've got low birth rates of Americans with low-skilled immigrants picking up the slack.