Jump to content

Theme© by Fisana
 

Photo

GOP Tax Reform


  • Please log in to reply
73 replies to this topic

#1 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 06 August 2017 - 06:22 PM




Just now FOX interviewed a Republican who said tax reform will not be as difficult or as personally volatile as health care reform. I think he is going to be surprised how personal and volatile tax reform can be. Already there are many special interest lobbyists trying to put their fingers in the tax reform pie. Unfortunately other Americans have no lobbyists to be their voice and protect their interests. And when the news media also ignores them, they might not be aware themselves that their interests are in danger.

The GOP tax reform plan is being ironed out behind closed doors. But the GOP tax reform plan presented last year called - "Blueprint - A Better Way" - ELIMINATES the EXTRA standard deduction for people who are over 65 and/or blind... and INCREASES tax rates for the POOREST taxpayers from 10% to 12%.

This year [2017], the standard deduction for a single person over 65 [which includes the EXTRA $1550 over 65 deduction] is $7900. Combined with the current single exemption of $4050, the total protected from taxes is $11,950... and that amount would probably increase next year due to the annual increase for inflation.

The current stated GOP tax plan calls for a $12,000 deduction but ELIMINATES the current $4050 per person exemption and the extra over 65 standard deduction. That along with the INCREASE in tax rates for the poorest Americans from 10% to 12%, will throw poor, elderly and blind people under the bus. This is NOT what Trump originally proposed. Trump originally promised all single people a $25,000 deduction and a 10% tax rate up to $50,000.

I certainly hope it was not Trump's intention to bait and switch. But that is exactly what he has done. If the GOP follows their blueprint plan, there will be a lot of irate people... including Democrats and Independents who voted for Trump and life-long Republican voters... turning against them in the 2018 election.

.

Edited by Atossa, 06 August 2017 - 06:24 PM.

  • 0

#2 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 12 August 2017 - 06:39 AM



The devil is in the details !!


In push for tax reform, wealthy conservative groups hope to avoid health debates mistakes. They may be repeating them.

August 11

" A coalition of some of the wealthiest forces in conservative politics is kicking off a major TV and ground campaign this month to drive momentum for a historic tax overhaul. The issue is now the GOP's top legislative priority this fall, following the failure to enact an overhaul of the nation's health-care laws.

The organizations behind the multimillion-dollar effort are hoping to avoid that fate by building early support for sweeping legislation, which they call tax reform, with a messaging campaign that promises to cut taxes for working - and middle-class Americans.

By another measure, however, these advocates may be repeating the mistake of health care, some GOP strategists say. Seven years ago, Republicans began rallying support and winning elections with a promise to repeal and replace the Affordable Care Act. But with no specific proposal to do so, they struggled this year to persuade Americans to support the effort.

Similarly, with retooling taxes, these interest groups are trying to sell "lower tax rates" to a wide swath of Americans without spelling out what taxes would be cut or for whom and they are doing so long before Republicans are scheduled to begin forging a detailed proposal. "


more at link

https://www.washingt...e1cc_story.html

.

Edited by Atossa, 12 August 2017 - 06:45 AM.

  • 0

#3 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 12 August 2017 - 06:50 AM




The GOP attacked Democrats and specifically Pelosi for advocating the passage of Obamacare
before congressmen could fully read and understand the bill they were voting on. And this is
exactly what the GOP is trying to do with tax reform.

.
  • 0

#4 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 01 September 2017 - 10:42 PM



GOP may target working class people:


GOP is looking for ways to pay for tax cuts. Your 401(k) may bear the cost


" As part of their tax reform package, House Republicans may tinker with the hugely popular 401(k) retirement benefit, a report says.

According to Politico, one proposal under consideration would be taxing the money that workers place into their 401(k) savings plans up front instead of imposing the tax when they take the money out in retirement 20, 30 or 40 years hence.

The idea would raise billions of dollars, presumably by removing the deduction that 401(k) savers get by taking $18,000 off the top of their salary before income tax kicks in. People over 50 can put in another $6,000, called a "catch-up" contribution, also tax-free.

In effect, Congress would be converting 401(k) plans going forward into something resembling the Roth Individual Retirement Account. "

more at link

http://www.chicagotr...0831-story.html

.
  • 0

#5 Zharkov

Zharkov

    Registered User

  • Members
  • PipPipPip
  • 32989 posts

Posted 02 September 2017 - 01:14 AM

Anyone making under $100,000 a year needs zero tax because they barely have enough to pay their bills and live even a restricted life.    Income tax was accepted only because it was supposed to apply to large corporations and not everyone.

 

Now they've warped and twisted the law to enslave the entire population with taxes.   It needs to stop.

 

Trump needs to advocate a $100,000 exemption for everyone.   And then cut spending drastically by removing military bases overseas.


  • 0

#6 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 02 September 2017 - 03:53 AM

Anyone making under $100,000 a year needs zero tax because they barely have enough to pay their bills and live even a restricted life. Income tax was accepted only because it was supposed to apply to large corporations and not everyone.

Now they've warped and twisted the law to enslave the entire population with taxes. It needs to stop.

Trump needs to advocate a $100,000 exemption for everyone. And then cut spending drastically by removing military bases overseas.




Trump originally advocated $25,000 single and $50,000 couple standard deductible with only a 10% tax up to $54,000 single / $108,000 couple. THIS won him a lot of support.

That was the "bait"... next came the "switch."


Trump's original plan quickly bit the dust... and began to morph over to the GOP's "Blueprint" which replaces the current 10% with 12% [an increase on the poorest Americans] and reduces the standard single deductible to $12,000, which is not much because they want to abolish the personal exemption. Senior singles already get $11,900 [exemption plus senior standard deductible] and that will automatically go up in 2018.

The Democrats are right. The GOP's so-called "tax cut" will mostly benefit the rich while many of the poor and working class are thrown under the bus.

.

.
  • 0

#7 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 26 September 2017 - 02:11 AM


Trump originally advocated $25,000 single and $50,000 couple standard deductible with only a 10% tax up to $54,000 single / $108,000 couple. THIS won him a lot of support.

That was the "bait"... next came the "switch."


Trump's original plan quickly bit the dust... and began to morph over to the GOP's "Blueprint" which replaces the current 10% with 12% [an increase on the poorest Americans] and reduces the standard single deductible to $12,000, which is not much because they want to abolish the personal exemption. Senior singles already get $11,900 [exemption plus senior standard deductible] and that will automatically go up in 2018.

The Democrats are right. The GOP's so-called "tax cut" will mostly benefit the rich while many of the poor and working class are thrown under the bus.


.




Told ya !

" The framework is expected to closely resemble the "Better Way" blueprint that House Republicans released in 2016. "

https://www.nytimes....epublicans.html

.
  • 0

#8 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 26 September 2017 - 02:20 AM



Democrats have been saying the GOP is only interested in tax cuts for the rich...
and Republicans have been busy making it a self-fulfilling prophecy.

.

Edited by Atossa, 26 September 2017 - 02:21 AM.

  • 0

#9 Zharkov

Zharkov

    Registered User

  • Members
  • PipPipPip
  • 32989 posts

Posted 26 September 2017 - 03:09 AM

Trump will be a one term president if the tax rates go higher for the lower levels of workers, as they are already bled dry with massive state and local taxes and federal tax.   Tax resistance and rebellion will become open warfare with the gov't when people realize they haven't enough money left to feed their families.


  • 0

#10 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 26 September 2017 - 03:31 AM

Trump will be a one term president if the tax rates go higher for the lower levels of workers, as they are already bled dry with massive state and local taxes and federal tax. Tax resistance and rebellion will become open warfare with the gov't when people realize they haven't enough money left to feed their families.



This week the GOP is supposed to release more detailed information about their proposed tax cuts.

Trump is expected to give more tax cut details in a speech on Wednesday.

But there has been very little news about this on either the big three news networks or the big three financial news networks.

Today, most everyone was talking about dumbed-down football.

News articles on the internet mostly revolve around tax cuts for businesses and the rich.

There is little discussion and even less interest in tax cuts for the silent majority. Let them eat cake.

.
  • 0

#11 Zharkov

Zharkov

    Registered User

  • Members
  • PipPipPip
  • 32989 posts

Posted 26 September 2017 - 07:47 PM

The NFL media event is covering something else.   The news media are too happy to report every detail of a normally boring story that would get no more coverage than 1 day, unless it was covering some other action that we are not supposed to know about.

 

It could be covering preparations for war, or maybe some other serious event.   It just doesn't seem normal to spend so much White House time on football players.  


  • 0

#12 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 26 September 2017 - 08:15 PM


The NFL media event is covering something else. The news media are too happy to report every detail of a normally boring story that would get no more coverage than 1 day, unless it was covering some other action that we are not supposed to know about.

It could be covering preparations for war, or maybe some other serious event. It just doesn't seem normal to spend so much White House time on football players.




FOX news today was just starting to report on the tax cuts... when it suddenly changed course and began talking about football again. The FOX news lady basically said, I know you are tired of hearing about football, BUT... then she and her co-host proceeded to talk about football until I turned off the TV in disgust.

Maybe they are covering up for the hurricane devastation in Puerto Rico. Maybe they are covering up the recent military launch of "something" from Vandenberg. But the result is they are not saying much about tax reform, which is very strange.

.

Edited by Atossa, 26 September 2017 - 08:16 PM.

  • 0

#13 Ivan88

Ivan88

    Registered User

  • Members
  • PipPipPip
  • 12217 posts

Posted 26 September 2017 - 10:53 PM

My guess is that "bait & switch" is the name of the game.

And for the peons, the switch will be a pain.

 

After all Moses & God promised that those who hate us rule over us when we go astray........and we have, big time.

Leviticus 26:17


Edited by Ivan88, 26 September 2017 - 10:54 PM.

  • 0

#14 Zharkov

Zharkov

    Registered User

  • Members
  • PipPipPip
  • 32989 posts

Posted 27 September 2017 - 01:46 AM

Sign of the times...

DKsUfSJX0AAIHpm.jpg


  • 0

#15 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 27 September 2017 - 02:00 AM



Another "bait and switch."

Tomorrow [Wednesday] is NOT the "big reveal" day after all...
the GOP cowards are only releasing the carrots not the sticks.


" President Trump and top Republicans will promise a package of far-reaching tax cuts for companies and individuals, people briefed on the planning said, but the GOP leaders will stop short of labeling many of the tax breaks they hope to strip away, putting off controversial decisions that threaten to sink the party's tax effort.

Republicans' "unified" framework, which they will release and promote Wednesday during speeches and meetings, aims to cut taxes by more than $5 trillion over 10 years and recoup more than half of that lost revenue by eliminating numerous tax breaks.

By refusing to specify on Wednesday which tax breaks could be jettisoned, GOP leaders make a calculated effort to try to postpone any backlash while they try to build a coalition, said the people, who spoke on the condition of anonymity because they were not authorized to discuss the internal negotiations. "

https://www.washingt...ough-decisions/

.
  • 0

#16 Desther

Desther

    Advanced Member

  • Members
  • PipPipPip
  • 5185 posts

Posted 27 September 2017 - 02:02 AM

The NFL media event is covering something else.   The news media are too happy to report every detail of a normally boring story that would get no more coverage than 1 day, unless it was covering some other action that we are not supposed to know about.

 

It could be covering preparations for war, or maybe some other serious event.   It just doesn't seem normal to spend so much White House time on football players.  

 

I just see Trump being his stupid, bombastic, cult-leading self and the news media eating it up as always.


  • 0

#17 Desther

Desther

    Advanced Member

  • Members
  • PipPipPip
  • 5185 posts

Posted 27 September 2017 - 02:03 AM

Another "bait and switch."

Tomorrow [Wednesday] is NOT the "big reveal" day after all...
the GOP cowards are only releasing the carrots not the sticks.


" President Trump and top Republicans will promise a package of far-reaching tax cuts for companies and individuals, people briefed on the planning said, but the GOP leaders will stop short of labeling many of the tax breaks they hope to strip away, putting off controversial decisions that threaten to sink the party's tax effort.

Republicans' "unified" framework, which they will release and promote Wednesday during speeches and meetings, aims to cut taxes by more than $5 trillion over 10 years and recoup more than half of that lost revenue by eliminating numerous tax breaks.

By refusing to specify on Wednesday which tax breaks could be jettisoned, GOP leaders make a calculated effort to try to postpone any backlash while they try to build a coalition, said the people, who spoke on the condition of anonymity because they were not authorized to discuss the internal negotiations. "

https://www.washingt...ough-decisions/

.

 

It'll probably be another failure that Trump can add to his list (via Twitter rants, of course).


  • 0

#18 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 27 September 2017 - 02:12 AM



These are almost the same three rates in the GOP's 2016 "Blueprint - A Better Way"
[which had 12%, 25% and 33%.] Notice the lowest tax rate for the poorest people
INCREASES from 10% to 12%. If the GOP also does away with personal exemptions
as they planned to do in 2016, a mere doubling of the standard deduction will
NOT make up for the shortfall and will be a tax INCREASE for many families.


From link above:

" There are currently seven individual income tax brackets, and the GOP plan would collapse those into three tax brackets; one at 12 percent of income, one at 25 percent of income, and one at 35 percent of income. "

.

Edited by Atossa, 27 September 2017 - 02:13 AM.

  • 0

#19 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 27 September 2017 - 02:20 AM

I just see Trump being his stupid, bombastic, cult-leading self and the news media eating it up as always.




I see Trump as Putin's governor of Gutium.



It'll probably be another failure that Trump can add to his list (via Twitter rants, of course).



This so-called "tax cut" that appears to heavily favor rich oligarchs may be a brilliant tactic Putin has given Trump who will use to initiate a proletarian revolution.

.

Edited by Atossa, 27 September 2017 - 02:42 AM.

  • 0

#20 Atossa

Atossa

    Registered User

  • Members
  • PipPipPip
  • 37862 posts

Posted 27 September 2017 - 02:41 AM



I see Trump as Putin's governor of Gutium.


This so-called "tax cut" that appears to heavily favor rich oligarchs may be a brilliant tactic Putin has given Trump who will use to initiate a proletarian revolution.

.



From that perspective... Trump appointing Wall Streeters and other wealthy oligarchs to his administration who will give themselves a tax cut while telling the great unwashed masses to eat cake... makes more and more sense.

.
  • 1




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

Copyright © 2017 Pravda.Ru