Well, they are talking about doing away with the personal deduction. No telling what other deductions they will do away with. Doing away with deductions is an effective tax increase bud, I don't care how you look at it. Will it end up basically a wash...I don't know (BS it won't) but I don't appreciate them acting like they are doing me/us a big favor by cutting rates while they're taking money out of our other pocket. Increasing the child credit...that's okay if you have kids but for us single folks with no kids...we're screwed without so much as kiss. Same way on personal property taxes (yes a state issue but still a tax load). Short story, the small to medium sized business owners will get screwed like always. We shall see but don't be surprised if I say I told you so.
Only way to make sure we have the weapons and equipment needed should a need arise. When Iraq started a bunch of vehicles were not armored and cost lives. It took some time to get them up to par. Would have cost more money to make each one with the armor in the first place but a small price to pay if it saves soldiers lives.
They're doubling the personal exemption. Lowering rates across the board. Sounds like the property tax exemption up to $10k remains. So I'd say if your personal total tax load increases you have no one to blame but your state reps/governor who are the ones that decide what your state income tax levels are.
Well, that's not what I read but we'll see. You can't really find anything to read about it anywhere that's trustworthy. We'll have to wait until they pass it to know what's actually in it.
Lol, although I said that to slam Piglousy....just to be clear, I'm not saying that to defend it, I'm saying that as a bad thing. From what I understand it's evolving as they debate it and negotiate for the votes to pass it. So no matter what written form a person may see now, it's not likely that version is what will actually pass...if any version passes. Unless I have misunderstood how this process has generally always worked. I'm saying you can't definitively say that it's going to do this or that because, at least us the general pop, have no idea what they will throw in it. My initial post about it was speculation based on the nature of DC politicians. I've read articles that say this and that and a little bit of everything but the way the media is at this point I only trust my intuition and that says the political hacks are just aiming to sock it to John Q.
Reading about this dumpster fire tax bill in real time is fascnating. I haven't seen something so disorganized and thrown together at the last hour since my time in college. People are literally just writing stuff on the bill in pencil and handing it out for others to "read" before they vote on it. Can't wait for some of this money to trickle down to me.
Not feeling too warm and fuzzy that this is going to be for the "middle class working family". The child deduction is fine and dandy (for those that have kids to claim). I'm just not seeing how the hard working blue collar men and women are benefiting from this. Unless I'm missing something? Compete with the global economy? Maybe. Create jobs? Maybe (already have one). Trickle down economics? Eh..... Why bank on it trickling down to me? Reduce my taxes by 15% and it will already be in my pocket.
Well with the giant tax cuts the corporations just got we should start to see them raising wages and hiring more workers any day now... Right?
I still think he's better than POTUS 44. And better than that lying, corrupt, colluding sack of garbage HRC. But I digress. I'm off to see Cannibal Corpse near Camp Lejeune, my old stomping grounds. You fellas enjoy the football today and tonight.
Yep matter of fact based on the current economic conditions employees at the company I work for are getting raises with back pay and year end bonuses. With the current job market it is difficult to find quality employees to hire.
Large domestic corporations are already flush with cash and unemployment is low. The cash savings from lower tax rates will be used largely to pay out larger dividends to shareholders and also for stock buybacks. Businesses hire additional employees when there is increased demand for their products and services, not because they have more money. Businesses pay higher wages when it is necessary to retain or aquire needed employees, not because they have more money. Many businesses cannot even find qualified individuals for positions they are already trying to fill. I agree with lowering corporate tax rates but the effect of doing so will not likely be what politicians are trying to sell to the public.
Wait so how again is tax cut going to help? Unemployment is low, we can’t find enough workers at our company either, I am all for lower taxes, but to whom is this tax cut benefits the most? Who are the winners?
FYI we are going to go another trillion in debt unlesss we drastically cut spending, I would have throught the business genius we put in the White House understood basic math. FYI we have never cut taxes and had a balance budget. So why not as voters we demand cut spending first across the board.
