I have to admit that I am not a fan of most of what I hear about the tax plan changes.
-It certainly will increase the deficit, and debt. only high growth will counter this, and we will not see that kind of growth.
-Not all middle class will get a tax cut most likely. Those in states that already rape us, will get a second sodimization it appears. Thank you sir may I have another?
-Nothing is simplified. There is no evidence to prove that this will actually result in additional business, business spending or job growth in the United States.

What is to like?

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I'm surprised more people haven't piped up wondering the details of the proposed plans for taxes. This is probably the issue that will most directly affect our lives in the immediate future, and we know very little in the way of details. How can we give our representation feedback on this if we don't know enough to know?
There are some online calculators that probably have little in the way of accuracy. If I don't get to deduct property taxes and state taxes and mortgage interest, I think I will not fare well with the new plans. Even with the larger standard deduction. It will probably benefit those above and below me income wise....as usual. I guess someone has to pay for Obamacare.

I seriously doubt you’re in the category where your mortgage interest would be affected?
The difference between being in certain states, if we were in Michigan our property taxes would be 5 times what they are now and we’d be paying state income tax. So these changes would be a plus for us.
If you’re in a state where the population is content to be raped by the politicians why shouldn’t the feds pile on?

quote:

Originally posted by Bill Koski:
I seriously doubt you’re in the category where your mortgage interest would be affected?
The difference between being in certain states, if we were in Michigan our property taxes would be 5 times what they are now and we’d be paying state income tax. So these changes would be a plus for us.
If you’re in a state where the population is content to be raped by the politicians why shouldn’t the feds pile on?

So why did you leave Nevada...DUMB ASS?

I don't know the specifics on interest deductions. I know my property tax deduction is significant.

Bucky, Our representatives don't care nor want our feedback. They know what is best for us and for their political careers. I'm with Bill on those content to live in high tax liberal states. Why should the rest of the nation pay for Chicago/Illinois wanton ways? I heard it stated "tax the wealthy" is Washington's code for "taxpayer" so I guess that's YOU. I am for the average man, that's you, getting a tax break and screw the deficient/debt. That ship has sailed and is insurmountable so why not give the citizen a break along the way?

quote:

Originally posted by Canted Valve:
Bucky, Our representatives don't care nor want our feedback. They know what is best for us and for their political careers. I'm with Bill on those content to live in high tax liberal states. Why should the rest of the nation pay for Chicago/Illinois wanton ways? I heard it stated "tax the wealthy" is Washington's code for "taxpayer" so I guess that's YOU. I am for the average man, that's you, getting a tax break and screw the deficient/debt. That ship has sailed and is insurmountable so why not give the citizen a break along the way?

Don't lop the rest of Illinois in with Chi Town. Just because that city dragged Illinois finances down with it doesn't mean we are all unified. ONE PART of this state is liberal democrat. I wouldn't live there. This is where my career is, my family is, and where I want to raise my kid and have him go to school. I'm not throwing all that away because of Chicago.

As far as the debt......where do we head if we simply give up? Seldom do I see giving up as a good answer to anything.

quote:

As far as the debt......where do we head if we simply give up? Seldom do I see giving up as a good answer to anything.

I'm not lopping you in with Chicago, although they are a big player in your plight, the state of Illinois is beyond broke and you're an Illinoisan. While you maybe or at least want to think you're separate, you are part of the whole state and it's finances are your finances. You're content being where you are which is great but the fact is you're going to have to bear the burden of living in IL. You can rationalize or even complain but your status remains the same.

Is it really giving up or simply acknowledging the facts of the matter? The opponents of the alleged $1T increase in debt over the next 10 years (and I don't see it being that bad as the CBO used 1.9% GDP growth to arrive at that figure and we are at 3.3% for the last quarter) fail to acknowledge the additional $9T in debt that will accrue due to additional spending. So we will be at $29T w/o the tax cut and $30T with, big whoo. So please show me where your fighting attitude is going to turn thing around. With your vote, I don't think so. Where will the political will come from. In fact I've even heard the Fed is considering regimenting QE. Further devaluing the currency might buy some more time but it certainly won't correct our mounting debt that can't go on forever. JMO

quote:

Originally posted by Canted Valve:

quote:

As far as the debt......where do we head if we simply give up? Seldom do I see giving up as a good answer to anything.

I'm not lopping you in with Chicago, although they are a big player in your plight, the state of Illinois is beyond broke and you're an Illinoisan. While you maybe or at least want to think you're separate, you are part of the whole state and it's finances are your finances. You're content being where you are which is great but the fact is you're going to have to bear the burden of living in IL. You can rationalize or even complain but your status remains the same.

Is it really giving up or simply acknowledging the facts of the matter? The opponents of the alleged $1T increase in debt over the next 10 years (and I don't see it being that bad as the CBO used 1.9% GDP growth to arrive at that figure and we are at 3.3% for the last quarter) fail to acknowledge the additional $9T in debt that will accrue due to additional spending. So we will be at $29T w/o the tax cut and $30T with, big whoo. So please show me where your fighting attitude is going to turn thing around. With your vote, I don't think so. Where will the political will come from. In fact I've even heard the Fed is considering regimenting QE. Further devaluing the currency might buy some more time but it certainly won't correct our mounting debt that can't go on forever. JMO

So it is a crime when liberals spend limitlessly and give it away and add to the debt. But when it's a tax cut.....sure add to the debt. What happened to living within our means? We just give up? I guess that really is the American way now. For all, not just the snowflakes.

quote:

What happened to living within our means? We just give up? I guess that really is the American way now. For all, not just the snowflakes.

At least the tax cut has a chance to pay for itself, and more. If the political deficient spending isn't going to stop, and it's not, it at least gives the taxpayer a break instead of just the liberals cultivated poor.

Hey, I'm all ears! What's you solution, other than stating what needs to be done? What's your achievable road map to living within our means? If wishful thinking did it I would have solved it long ago.

quote:

Originally posted by Canted Valve:

quote:

What happened to living within our means? We just give up? I guess that really is the American way now. For all, not just the snowflakes.

At least the tax cut has a chance to pay for itself, and more. If the political deficient spending isn't going to stop, and it's not, it at least gives the taxpayer a break instead of just the liberals cultivated poor.

Hey, I'm all ears! What's you solution, other than stating what needs to be done? What's your achievable road map to living within our means? If wishful thinking did it I would have solved it long ago.

Take that list that was posted in the General section and cut all of it for starters. But I do agree that reducing taxes is better than increasing spending every time, and benefits working people. And yes it has a chance to pay for itself. So at least there is that thread of hope.

That said, if middle class earners/taxpayers don't consistently do better under the new plan, then I see little hope that it will do anything to improve the economy. We have yet to see history of corporate tax reduction leading to increased investment domestically. I just don't think that taxes are the main reason they would prefer to do business overseas.

Idiotic mandates and regulations from the government probably play a bigger role in corporations moving then taxes do! The "fruits-an-nuts-state" is a mini US as far as those things go and look at the exodus from there!
But reducing corporate taxes and removing the mandated idiocy at the same time should make the companies here much more competitive and bring some back!

quote:

Take that list that was posted in the General section and cut all of it for starters.

While you and I can agree it should be done, that's not a viable plan, that's wishful thinking. Let me repeat myself, there is no political will to stop deficient spending. And, if they are predicting $9T over the next decade then one has to assume we will continue down the same path for the next 10 years. $22T is unprecedented debt. You quoted history regarding corporate taxes not leading to domestic investment, what else does history tell use about economic failure. The great depression, worldwide, 1929 - 1941, Germany 1948 the Reichsmark was abolished and replaced by the Deutsche Mark, USSR collapse late 1980's, Iceland, Cyprus, Greece, Illinois , need I go on. Heck, Greece is "recovering" it's GDP is 0.9% and now they can start borrowing again! My protracted point being the USA isn't immune to economic failure. So, with a $Trillion additional annual debt for the next 10 years and no plan or political will to stop am I "giving up" or reading the hand writing on the wall? In the early Oboy years I was all for raising taxes and reducing spending.... let's get after this debt problem I said. Naive on my part. Hopefully I'm equally naive about the above but smoke and mirrors seldom produce a stable currency.

I think Bill is spot on regarding the loss of business. Certainly something is responsible and the government makes the rules. Let's not discount NAFTA and China's favored nation status government decisions.

quote:

Idiotic mandates and regulations from the government probably play a bigger role in corporations moving then taxes do!

I agree with that.

quote:

Originally posted by Canted Valve:

quote:

As far as the debt......where do we head if we simply give up? Seldom do I see giving up as a good answer to anything.

I'm not lopping you in with Chicago, although they are a big player in your plight, the state of Illinois is beyond broke and you're an Illinoisan. While you maybe or at least want to think you're separate, you are part of the whole state and it's finances are your finances. You're content being where you are which is great but the fact is you're going to have to bear the burden of living in IL. You can rationalize or even complain but your status remains the same.

Is it really giving up or simply acknowledging the facts of the matter? The opponents of the alleged $1T increase in debt over the next 10 years (and I don't see it being that bad as the CBO used 1.9% GDP growth to arrive at that figure and we are at 3.3% for the last quarter) fail to acknowledge the additional $9T in debt that will accrue due to additional spending. So we will be at $29T w/o the tax cut and $30T with, big whoo. So please show me where your fighting attitude is going to turn thing around. With your vote, I don't think so. Where will the political will come from. In fact I've even heard the Fed is considering regimenting QE. Further devaluing the currency might buy some more time but it certainly won't correct our mounting debt that can't go on forever. JMO

Well if we are throwing caution to the wind with regards to deficit spending, then why not make sure EVERYONE gets a tax cut regardless of state? Oh, wait they just did it appears. I guess the thing to do is celebrate.

Augusta Warrior Project
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Augusta Warrior Project
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Gpa

Augusta Warrior Project
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Gpa