3rdnlng Posted January 12, 2018 Share Posted January 12, 2018 2 hours ago, The_Dude said: It’s my understanding that savings I’ll see will only last about two years? But as a small business owner I will benefit greatly on payroll taxes. Speaking of payroll taxes — today is shakedown day and I gotta pay fed and state. Do you have a source for this? My understanding is that the individual reductions last until 2026 and only because of a technicality in the reconciliation aspects of the bill. Link to comment Share on other sites More sharing options...
The_Dude Posted January 12, 2018 Share Posted January 12, 2018 26 minutes ago, 3rdnlng said: Do you have a source for this? My understanding is that the individual reductions last until 2026 and only because of a technicality in the reconciliation aspects of the bill. I don’t remember where I read that, I just remember I read it. But payroll taxes are the bane of my existence so any reprieve is welcome. Link to comment Share on other sites More sharing options...
Nanker Posted January 12, 2018 Share Posted January 12, 2018 Yes. A little known provision in the bill is that it absolutely precludes any future Congress to amend the tax code. So there. It’s written in stone. No more tax break for you! Link to comment Share on other sites More sharing options...
3rdnlng Posted January 12, 2018 Share Posted January 12, 2018 4 minutes ago, The_Dude said: I don’t remember where I read that, I just remember I read it. But payroll taxes are the bane of my existence so any reprieve is welcome. Damn Trump tax cut! Link to comment Share on other sites More sharing options...
The_Dude Posted January 12, 2018 Share Posted January 12, 2018 1 minute ago, 3rdnlng said: Damn Trump tax cut! My opposition to the bill is the debt the CBO says it’ll add. I want a tax plan that destroys the debt. Link to comment Share on other sites More sharing options...
row_33 Posted January 12, 2018 Share Posted January 12, 2018 43 minutes ago, The_Dude said: My opposition to the bill is the debt the CBO says it’ll add. I want a tax plan that destroys the debt. Since Reagan the priority is Whipping Inflation Now, which they did despite being told it was impossible for a dozen years..... :/ And lowering the prime lending rate, which it is egregiously low in North America, needs a few points hike immediately.... But that has side effects, as EVERYTHING does... Link to comment Share on other sites More sharing options...
/dev/null Posted January 12, 2018 Share Posted January 12, 2018 54 minutes ago, The_Dude said: My opposition to the bill is the debt the CBO says it’ll add. I want a tax plan that destroys the debt. We're you as opposed to the Stimulous? Link to comment Share on other sites More sharing options...
row_33 Posted January 12, 2018 Share Posted January 12, 2018 Link to comment Share on other sites More sharing options...
The_Dude Posted January 12, 2018 Share Posted January 12, 2018 6 minutes ago, /dev/null said: We're you as opposed to the Stimulous? No. I believe in Keynesian economics to combat recessions. Reason: I’ve seen it work and studied how it has worked. 25 minutes ago, row_33 said: Since Reagan the priority is Whipping Inflation Now, which they did despite being told it was impossible for a dozen years..... :/ And lowering the prime lending rate, which it is egregiously low in North America, needs a few points hike immediately.... But that has side effects, as EVERYTHING does... When it comes to this — I know that I don’t know enough to weigh in. I know enough about economics to know I don’t know what I’m talking about. I begin working on an MBA soon, but till then I can’t really weigh in. Historically I will say Reagan’s achievements have been grossly misrepresented when it comes to Reaganomics. I look forward to understanding economics better but all I can do is rely on my understanding of economical historical events. Link to comment Share on other sites More sharing options...
row_33 Posted January 12, 2018 Share Posted January 12, 2018 Make sure you get the real story of Reaganomics. The geniuses told us during the 60s and 70s that it was impossible to have rising unemployment and rising inflation at the same time, and they were proven DEAD 100% WRONG by the oil shocks. The same social circles that tell us about global warming these days.... listen at your own risk, they never learn or admit mistakes.... Inflation was rampant that decade and declared impossible to stop by the same geniuses. In the midst of a major recession we had mortgage rates of 20% and bad inflation. One friend was forced into a 38% mortgage on the family cottage. So Reagan came in with a severe austerity program and threw it onto the country, fully anticipated and necessary, it ruined the rust belt. But we were well aware of it and then re-elected him as the country finally got out of ****-hole status. And inflation and interest rates are minimal, but you can't have it all and private and personal debt is growing too high. Link to comment Share on other sites More sharing options...
GG Posted January 12, 2018 Share Posted January 12, 2018 2 hours ago, The_Dude said: My opposition to the bill is the debt the CBO says it’ll add. I want a tax plan that destroys the debt. Tax plans don't have a direct correlation to debt. But I'm sure you knew that. Link to comment Share on other sites More sharing options...
sherpa Posted January 12, 2018 Share Posted January 12, 2018 1 hour ago, row_33 said: So Reagan came in with a severe austerity program and threw it onto the country, fully anticipated and necessary, it ruined the rust belt. But we were well aware of it and then re-elected him as the country finally got out of ****-hole status. The force behind breaking that inflation was Paul Volcker at the Fed. He and Reagan used to go at it all the time, but I always had a feeling Reagan was winking at him. Either way, it worked. Link to comment Share on other sites More sharing options...
TPS Posted January 12, 2018 Share Posted January 12, 2018 2 hours ago, GG said: Tax plans don't have a direct correlation to debt. But I'm sure you knew that. Right, tax cuts do. Link to comment Share on other sites More sharing options...
GG Posted January 12, 2018 Share Posted January 12, 2018 54 minutes ago, TPS said: Right, tax cuts do. There are always two variables in a subtraction equation Link to comment Share on other sites More sharing options...
TPS Posted January 13, 2018 Share Posted January 13, 2018 17 hours ago, GG said: There are always two variables in a subtraction equation Which makes it very easy to observe changes in the result from changes in the variables. Link to comment Share on other sites More sharing options...
B-Man Posted January 13, 2018 Share Posted January 13, 2018 Dems at ‘#GOPTaxScam Teach-Ins’ try to spin lack of tax cut death & destruction Pelosi and the Dems warned of “Armageddon” and all the death and destruction that comes with it if the tax bill were signed into law, but the opposite seems to be the case. However, Dems can’t let the narrative go, so many of them are spending their day telling as many people who will listen that things are far worse than they appear. Nancy Pelosi Be sure to tune in at 12 noon PT as @RepThompson and I hold a teach-in to discuss what the #GOPTaxScam means for Bay Area families. Link to comment Share on other sites More sharing options...
B-Man Posted January 18, 2018 Share Posted January 18, 2018 DAVID HARSANYI: Democrats Are Fooling Themselves About Tax Reform’s Unpopularity. Yes, the tax bill is unpopular. Then again, I’m not sure you’ve noticed, everything Washington tries to do is unpopular. Nothing polls well. Not the president. Not congress. Not Democrats. Not legislation. Not even erstwhile popular-vote winning candidates. Certainly a bill being bombarded with hysterical end-of-world claims rarely debunked by the political media is not going to be popular. Republicans won’t pass anything if they wait around for it to be popular. But, funnily enough, they can be somewhat content knowing that voters will probably like it once they find out what’s in it. Why do so many Americans believe that middle class is getting a tax hike? Because those they trust are constantly lying to them. Both in framing and content, the coverage of the tax cuts has been impressively dishonest. “One-Third of Middle Class Families Could End Up Paying More Under the GOP Tax Plan” writes CNN (They won’t). The Associated Press says, “BREAKING: House passes first rewrite of nation’s tax laws in three decades, providing steep tax cuts for businesses, the wealthy.” And so on. Indeed. It’s one thing to be told (by Democrats) that you’ll pay substantially less for health insurance while keeping your plan and your doctor, only to find that you’re paying substantially more for health insurance while losing your plan and your doctor. It’s quite another thing to be told (again by Democrats) that you’ll pay more in taxes, only to find that your taxes have been cut — and maybe even a tax-cut financed $1,000 bonus coming your way. https://pjmedia.com/instapundit/286300/ . Link to comment Share on other sites More sharing options...
sherpa Posted January 18, 2018 Share Posted January 18, 2018 After a good long time in this country, this economy, this political system and this media system, I have come to one undeniable conclusion. The Democratic party will never be exposed for its bad ideas, bad history, bad plans and bad performance. They will continue to exist and thrive because they play to very basic human views. Someone is screwing you. Your problems are not of your own doing, and I can help you by legally stealing from the bad people who are succeeding. It's not you....It's them. And to inoculate myself, I am no Trump supporter. On 1/12/2018 at 11:24 AM, row_33 said: Since Reagan the priority is Whipping Inflation Now, which they did despite being told it was impossible for a dozen years..... :/ And lowering the prime lending rate, which it is egregiously low in North America, needs a few points hike immediately.... But that has side effects, as EVERYTHING does... That was Ford. Link to comment Share on other sites More sharing options...
Tiberius Posted January 18, 2018 Author Share Posted January 18, 2018 Most Americans understand the tax bill benefited the wealthy mostly and not ordinary Americans too much. Link to comment Share on other sites More sharing options...
B-Man Posted January 18, 2018 Share Posted January 18, 2018 SMALL BUSINESSES ARE ALREADY INVESTING DUE TO TAX CUT: That’s the word from Small Business Administration (SBA) Administrator Linda McMahon, who, according to LifeZette’s Brenda Kirby, hears that message from entrepreneurs and small business owners all the time. “Well, what they’re saying with the new tax reform package passed is that they are going to take the proceeds from any tax savings that they have and reinvest them in their business,” McMahon said during an interview Thursday on Laura Ingraham’s Talk Radio show. “So, you know, they complained about taxes. They wanted to see regulatory reform. And under President Trump, they are seeing both of those issues addressed. And they’re very enthusiastic about it.” That’s the good news. The not-so-good news is that McMahon wants “to see more loans because that means more businesses are taking advantage of this access to capital. And they’ll either use it to grow, or they’ll use it to start a new business, or they’ll use it to add an employee.” All true but wouldn’t it be better if those guarantees and loans came from the private sector rather than the taxpayers via SBA? . Link to comment Share on other sites More sharing options...
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