Families making $25,000 a year end up with a whopping 60 BUCKS MORE!

[Boss]

They also get to double the standard deduction.

At the cost of their exemptions and itemizing. At the cost of another trillions dollars of debt which will shrink the value of their cash and bank balances.

Well no, because the people you're talking about don't itemize deductions. You can't itemize AND take the standard deduction. You can do one or the other. And the debt has nothing to do with tax rates or revenue. That's spending. We've been running debt since the 1700s and it has never had the effect of dramatically decreasing the value of the dollar as you are claiming is going to happen here.

I suggest you and your ilk start working on what kind of spin you're going to do whenever these tax decreases start to be realized next year. Once people start seeing more of their paychecks and the economy starts ripping and roaring from the decreased corporate taxes, you're party is in for some serious trouble because we have the sound bites of you all claiming this is the end of the world, as well as your record of not supporting any of it.

You're really wasting your precious time here, arguing against the tax cuts which have now been signed into law. I mean, you can keep on grandstanding if you like... I don't think Congress is going to see your post and decide to rescind their votes. So your best strategy going forward is to start working on what kind of lies and distortions you can push for when the economy takes off next year and capitalism triumphs over your socialist policies of the past 8 years.

Or.... Just keep looking like idiots.... doesn't matter to me!

 

[Deno]

 

[westwall]

Can you just imagine how much people making 25 thousand a year can do with 60 bucks? That's like 5 dollars a month. You could buy one grande nonfat no foam latte at 120 degrees from Starbucks.

Hearing the GOP talk about "we are doubling this and tripling that" broken down into real dollars and cents is an eye opener.

And if you make 50 to 75 grand? OMG! Almost 900 dollars! You could use it to pay for that Obamacare you can only afford if you pay like 10 times that amount.

Wow! Republicans once again really doing a number on the American people.

Full Text of GOP Tax Scam:
Read the full GOP tax bill

Trump stands to save millions under new tax measure, experts say

House Speaker Paul D. Ryan (R-Wis.) saying this week, “For all those millions of Americans struggling paycheck to paycheck, help is on the way.”

But the biggest chunk of the plan offers a stark and permanent tax cut for American companies, dropping the corporate rate from 35 percent to 21 percent.

Income-tax rates for everyone will drop temporarily, though the financial impact will be largely concentrated at the top. Families earning less than $25,000 a year would receive an average tax cut of $60; families making between $50,000 and $75,000 will get an average cut of $890; and families making more than $1 million would get an average cut of nearly $70,000, the nonpartisan Tax Policy Center said.

Sooooooo, you're complaining that people who pay no tax are actually getting me to give them money from out of my pocket. Well, guess what. i give to those in need already. I resent having to give my hard earned money to people i don't know, or know what their situation is. I prefer to give locally.

 

[Toddsterpatriot]

They also get to double the standard deduction.

At the cost of their exemptions and itemizing. At the cost of another trillions dollars of debt which will shrink the value of their cash and bank balances.

At the cost of their exemptions and itemizing.

How many people making $19,000 are itemizing?

 

[Markle]

Can you just imagine how much people making 25 thousand a year can do with 60 bucks?

A household earning only $25,000 a year does not pay any federal income taxes today. How much less should they pay?

 

[westwall]

Can you just imagine how much people making 25 thousand a year can do with 60 bucks?

A household earning only $25,000 a year does not pay any federal income taxes today. How much less should they pay?

 

[Markle]

As it now, for 2017, A single man earning $25000 pays $4991 in taxes to the federal government.

Nonsense

FAKE NEWS!

 

[Markle]

Before Obama, millions didn't have any healthcare at all.

They had health care. By their own choice, some did not have health insurance.

 

[Markle]

Ah, so many Republican idiots, and so little time. A single man who earns $25,000 pays $5,000 in combined taxes to the federal government.

FAKE NEWS

 

[Aba Incieni]

I like Charles Barkley's comments:

“They say it’s gonna trickle down. I’m gonna get my fat a– down to the jewelry store and get me a new Rolex,” Barkley joked. “Thank you, Republicans. I know I can always count on y’all to take care of us rich people, the 1-percenters. Sorry, poor people. I’m hoping for y’all, but y’all ain’t got no chance.”

Charles Barkley shares his thoughts on new tax bill

A Rolex or a yacht, it's all the same. Barkley's purchase will allow the poor jeweller to pay his rent and employees, not to mention feed his family.

 

[Markle]

A FAMILY making $25k ISN'T paying federal income tax.

Faggot Republicans like to drag kids into it, because the tax code provides welfare to low income people with kids. But, a single man, no kids, with $25,000 in earnings pays income taxes, that when added to payroll taxes, amounts to about $5000 to the IRS.

 

[Markle]

Republicans will get back to us after they find out what's in those 1100 pages of lobbyist crap.

House Republicans Don't Know Some Very Basic Facts About The Tax Bill They Wrote | HuffPost

 

[BulletProof]

Well no, because the people you're talking about don't itemize deductions. You can't itemize AND take the standard deduction. You can do one or the other. And the debt has nothing to do with tax rates or revenue. That's spending. We've been running debt since the 1700s and it has never had the effect of dramatically decreasing the value of the dollar as you are claiming is going to happen here.

Is there a rule that you have to a moron to post here? No shit, fucktard, you can't take the itemized and standard deduction. My point, fucktard, is that for many in the middle class, they'll pay more taxes because of a loss of ability to itemize. Fucktard, the cost of federal borrowing is inflation and higher interest rates for private borrowers, i.e. an effective tax on the people. Don't you know shit about economics? Do you really think deficit spending is free wealth.

Or.... Just keep looking like idiots.... doesn't matter to me!

Look who's talking.

 

[Boss]

Democrats need to be looking for that poor schmuck who is now relegated to eating cat food because Trump's tax bill eliminated his million-dollar property tax deduction.

 

[BulletProof]

At the cost of their exemptions and itemizing.

How many people making $19,000 are itemizing?

In 2017, any single guy, without kids, pays income taxes for earnings over $10,400. Any guy earning over that amount is a candidate for itemizing if he has a mortgage or other itemizable deductions. Low income people are most likely to be able to use medical and employee expenses itemized deductions. (Married people face a penalty of a loss of $6,350 to $9350, or more, in potential deductions, not that any fucktard Republican seems to care.)

 

[Boss]

In 2017, any single guy, without kids, pays income taxes for earnings over $10,400. Any guy earning over that amount is a candidate for itemizing if he has a mortgage or other itemizable deductions. Low income people are most likely to be able to use medical and employee expenses itemized deductions. (Married people face a penalty of a loss of $6,350 to $9350, or more, in potential deductions, not that any fucktard Republican seems to care.)

The chances they would have enough deductions at $10.4k to 19k is slim under the old code. Under the new bill, they get DOUBLE the standard deduction, making it nearly impossible they would have enough deductions to meet the minimum requirement.

 

[deanrd]

 

[Toddsterpatriot]

At the cost of their exemptions and itemizing.

How many people making $19,000 are itemizing?

In 2017, any single guy, without kids, pays income taxes for earnings over $10,400. Any guy earning over that amount is a candidate for itemizing if he has a mortgage or other itemizable deductions. Low income people are most likely to be able to use medical and employee expenses itemized deductions. (Married people face a penalty of a loss of $6,350 to $9350, or more, in potential deductions, not that any fucktard Republican seems to care.)

In 2017, any single guy, without kids, pays income taxes for earnings over $10,400.

You bet. 10% for the first $9325 over $10,400.

Any guy earning over that amount is a candidate for itemizing if he has a mortgage or other itemizable deductions.

Yup. But how many guys earning $19,000 have over $10,400 in itemizable deductions?
Can't make too many mortgage and property tax payments with only $19,000 in income.

Low income people are most likely to be able to use medical and employee expenses itemized deductions.

How much income....how much medical expenses?

 

[BulletProof]

The chances they would have enough deductions at $10.4k to 19k is slim under the old code. Under the new bill, they get DOUBLE the standard deduction, making it nearly impossible they would have enough deductions to meet the minimum requirement.

I know what the standard deduction is under the new bill. You are too fucking stupid to follow anything I'm saying, even though it's very simple. Idiot, I have been pointing out that many people who itemize now won't be able to because of the increased standard deduction. And, you, fucking idiot, tell me that the standard deduction is increased, as if that somehow refutes me. Every post of your is pile of stupid shit. Stop replying to my posts. At least, I'm sure, you understand the phrase "You're an idiot." And, don't call me an idiot again, until you step up your game.

Under the current code, there's a very good chance than any single guy who works full-time, even at McDonald's, itemizes, if he has a mortgage or high medical expenses. The IRS demands about $5K, in income and payroll taxes, for a guy earning $25K.

 

[BulletProof]

Yup. But how many guys earning $19,000 have over $10,400 in itemizable deductions?

For 2017, the relevant number is 6,350, not 10,400. And, it's not just the guy with 19K of income, but also the guy with 25K, or even any middle-class person. Just to backtrack, some fucking idiot (goes by "Boss") argued that people get a big tax break with a doubling of the standard deduction. I replied and pointed out that the increased standard deduction comes at the cost of exemptions and itemized deductions (if not also a 12% tax bracket displacing 10%). You asked how someone with 19K can itemize. You pulled 19K out of your ass, and I don't see why that number is especially relevant (especially given that most full-time entry-level jobs pay more than that). But, if someone with 19K does manage to have a mortgage, or did have high medical expenses, they are likely to itemize, even if they're unlikely to have a mortgage in the first place.

Low income people are most likely to be able to use medical and employee expenses itemized deductions.

How much income....how much medical expenses?

With 19K of income, $8250 of medical expenses would match their standard deduction, anything else they can deduct (property taxes, state taxes, donations, etc.) would then be gravy. There are, in fact, low income people who spend that much in medical expenses. And, rather than argue that few people have that much in medical expenses, it should be argued that it should be easier to deduct medical expenses, especially given that these same expenses could be instead deducted from income, in the first place, if a taxpayer has a cooperative employer. (Most low income people, without some sort of coverage, do have, at some point, high medical expenses. Whether they actually pay them is the issue.)

Also, I'm not against phasing out itemized deductions. I'm merely pointing out that the GOP plan isn't really so much of a tax break for working people.