Trumps Tax bill looks like it will happen

[oneforthebus]

After reading about the changes all morning, I still have no freaking idea what the outcome will be for us. We will lose some deductions but it looks like get a rate cut. We are pass through but a professional service company but below the income threshold for being ineligible. Should I just cancel our freaking health insurance if the mandate is repealed, or is that too risky? Without the penalty we'd have to have something truly catastrophic happen for it to be worth what we are paying, which is only going to soar higher with the mandate gone. Will this all go into effect immediately on our next tax return? Or some parts of it but not all? Who the hell knows.

Our accountant will earn his money this year.

 

[Turd Ferguson]

Goes in effect next year...not 2017.

 

[IndySteel]

Those swampy ********! They have to amend the House bill with the Senate bill, so I bet AMT will get out of the final legislation. That tax is almost as bad as the death tax. On health insurance, my company pays 100% of mine. I’ll probably just get a major medical plan for my family.


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[oneforthebus]

Those swampy ********! They have to amend the House bill with the Senate bill, so I bet AMT will get out of the final legislation. That tax is almost as bad as the death tax. On health insurance, my company pays 100% of mine. I’ll probably just get a major medical plan for my family.


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Under Obamacare law insurance companies can only sell major medical plans under certain circumstances. So I don't know if that will change with this repeal or not.

 

[IndySteel]

Under Obamacare law insurance companies can only sell major medical plans under certain circumstances. So I don't know if that will change with this repeal or not.

That ************!

 

[Tibs]

All this happened during Obamacare bill too Tibs. Here Tibs, let me remind you of the fiasco back then

Two wrongs don't make a right. You know that but don't have the balls to call a spade a spade. Heaven forbid you criticize Trump/GOP for anything or his lapdogs on the board will growl in disapproval.

For someone that talks a good game and comes across as thinking they are educated on subjects Tibs, you sure as hell have a short ******* memory. Maybe you should stop reading **** Twitter for your news and start reading for a change.

Thank you for the advice, Mr. Condescending. I read plenty enough. Twitter is simply to cover the fast moving aspects of the here & the now. It's a quick snapshot, not any type of analysis.

 

[IndySteel]

Socialists love taxes. This is a very sad day for them and all deranged Trump haters. MAGA!

 

[Tibs]

Socialists love taxes. This is a very sad day for them and all deranged Trump haters. MAGA!

As usual, you have zero understanding of the issues and the various political viewpoints. What's at question is the fair and proportional distribution of taxes and tax cuts/benefits, wether the tax structure in place allows for economic growth, is good for small and medium sized business, the middle class, working families and deals appropriately with the deficit or is it skewered way over the top to appease the super rich, the mega corporations and GOP donors? That is the question here, not simply the idea of 'loving' or 'hating' taxes.

But to Trump supporters none of this matters, you just want to see the country - and the world - burn.

 

[Supersteeler]

But to Trump supporters none of this matters, you just want to see the country - and the world - burn.

Oh no, no, no. You misunderstand completely. I never want anything bad to happen to the country.....or the world. Not ever. I want the phony political system and the corrupt media to burn. They are both toxic forces that are a killer epidemic to this country. Burn them down and start over. The country will be infinitely better off. No wonder you don't understand Trump's supporters if you think that they want to hurt the country. I feel like it's probably staunch partisanship that's causing that feeling in most cases, more than anything else....however in truth, the vast majority of his supporters want to eradicate the things that have been doing irreparable damage to the country for generations. I'm seeing a a lot of cracks forming in both.

 

[DBS1970]

It's a tax cut for people that you know, actually pay taxes and that includes most small businesses. And it will help grow the economy because what people need to do that is capital and if the government taxes their money away from them they won't have it. No nation in history has ever taxed itself into prosperity. What really scares the Neo-Socialists is that if the Republicans get this done they might get some other things done like repeal of Bommacare and real spending cuts rather than simply slowing the rates of increase. The deficit will not go down until we cut the ENTIRE Federal Budget by 40% and shrink the Federal Government back inside it's Constitutional limits.

 

[Spike]

DONE DEAL!


Senate Passes Sweeping Tax Bill

WASHINGTON — The Senate passed the most sweeping tax rewrite in decades early Saturday, with Republicans lining up to approve an overhaul that will touch almost every corner of the United States economy, affecting families, small business owners and multinational corporations, with the biggest benefits flowing to the highest-earning Americans.

Senators voted 51-49, as Republicans approved the nearly 500-page bill in the early morning hours after lawmakers received a rewritten version, which contained significant changes from the original bill that passed two Senate panels last month along party lines.

Mitch McConnell, the Senate majority leader and Kentucky Republican, called it “a great day for the country.”

The president praised Republican lawmakers on Saturday morning on Twitter, saying, “Biggest Tax Bill and Tax Cuts in history just passed in the Senate. Now these great Republicans will be going for final passage. Thank you to House and Senate Republicans for your hard work and commitment!”

https://www.nytimes.com/2017/12/01/us/politics/senate-tax-bill.html

 

[IndySteel]

Where does it say that they snuck AMT back in? I haven’t read that anywhere and they already had enough votes to pass it, so why would they add that at the last minute?

 

[Spike]

GOP defeats effort to nix ANWR drilling provision

Included in the Senate tax plan is a provision that would pave the way for drilling in a section of ANWR.

Senate Republicans shot down a Democratic attempt to prevent oil and gas drilling in the Arctic National Wildlife Refuge (ANWR).

The amendment from Sen. Maria Cantwell (D-Wash.) failed to overcome a procedural hurdle. GOP Sen. Susan Collins (Maine) supported the amendment and Democratic Sen. Joe Manchin (D-W.Va.) voted against it.

http://thehill.com/homenews/senate/362878-live-coverage-senate-holds-tax-reform-vote-a-rama

 

[Steeltime]

What bill? That bill put on the floor yesterday or the one submitted tonight that contains Lord knows what? Debated by whom? I'm a bit shocked everyone's onboard with the government being run this way.

You are not being genuine here, Tibs, the vast majority of the tax bill has been available for Senators to read for weeks. The revisions were the only thing not included until yesterday.

And those revisions were then presented in what is called a legislative amendment, and can be found just by looking at the cited section. Alternatively, the Senators can simply look for the handwritten additions. These clowns have staffs of 8-10 people, who should be able to find the amendments pretty quickly.

So when you say, "The bill was not even available to be read until last night!!" you are falling for a Democratic lie, Tibs.

 

[Tibs]

 

[Spike]

 

[Troglodyte]

Agreed but Obamacare made it worse not better. We will see if the tax reform makes it better or worse. Putting politics aside let's hope it's good for both of our benefit.

We don’t know that Obamacare made it worse, the rate of increase for premiums was 63% from 2001-2006, 31% from 2006-2011, and only 20% from 2011-2016.

 

[SCSteeler4life]

We don’t know that Obamacare made it worse, the rate of increase for premiums was 63% from 2001-2006, 31% from 2006-2011, and only 20% from 2011-2016.

We know it didn't help. And we also know it didn't keep all of those promises he made. You are just being obtuse. Spit Obamas pecker out of your mouth and be real.

 

[Turd Ferguson]

Here ya go.....fresh from CNN Money. Here I thought they were going to get this off my back.
http://money.cnn.com/2017/12/02/pf/taxes/senate-tax-bill-passed/index.html

" Preserves the Alternative Minimum Tax: The original Senate bill, like the House-passed bill, would repeal the AMT. But to help offset the cost of other late amendments, the final revision of the Senate bill now keeps the AMT in place but raises the amount of income exempt from it.."

 

[Iron95]

We don’t know that Obamacare made it worse, the rate of increase for premiums was 63% from 2001-2006, 31% from 2006-2011, and only 20% from 2011-2016.

Get your ******* head out of the sand! My health insurance was great until obamacare ****** it up. I now pay much more and get less for it. Thanks a lot ********!

 

[Steelr4evr]

Get your ******* head out of the sand! My health insurance was great until obamacare ****** it up. I now pay much more and get less for it. Thanks a lot ********!

No kidding. ******* raping the middle class. Brutally. I can't even talk about it without getting pissed. Just remember those ******** rammed that garbage through in the middle of the night. Then of course our supreme court failed us epicly in allowing that nonsense to stand. Every single elected official who stated over the last 8 years that it needed to be repealed, then voted to not repeal...should be removed from office. That dirtbag McCain should pounding sand in az

 

[Buster]

I bet the bums who make a living scamming public assistance laugh their ***** off at working people worrying about how changes like these will affect how we make a living. Their biggest worry is what tattoo to get next.

 

[oneforthebus]

Nobody's raising taxes on the poor and middle class. How libs get away with this lie blows my mind. Some upper middle class people will see an increase, which sucks in my opinion since I happen to be one of them and already pay a shitload of taxes, but middle class people will get tax cuts. Poor people who don't pay any taxes will get no tax cut, obviously, but they won't be getting a tax hike certainly. Premiums will go up for the upper middle class, the lower income people get subsidies so they are insulated from that. 13 million people will not have their insurance "taken away", they will be given the choice of whether they want to buy this outrageously priced coverage or whether they don't.

 

[oneforthebus]

We don’t know that Obamacare made it worse, the rate of increase for premiums was 63% from 2001-2006, 31% from 2006-2011, and only 20% from 2011-2016.

That is a big fat lie because it counts premiums that are SUBSIDIZED. So a whole lot of people's premiums are staying cheap or free, while the rest of us who actually pay for it are getting massive increases. Mine has gone from $900/month to $1500/month, and from a $6000 deductible to a $13000 deductible in two years.

 

[Troglodyte]

Nobody's raising taxes on the middle class.... upper middle class people will see an increase... Premiums will go up for the upper middle class.

So what is it about the upper middle class that they should pay more and corporations should pay less?