Trumps Tax bill looks like it will happen

[21STEELERS21]

The Dow likes this because its mainly a Wall Street giveaway. Corporations are already sitting on piles of cash because they
don't know where to invest it. If they have more cash they will buy back more of their own stock and pass dividends on to their shareholders.

The people who will be most hurt by this plan are the people who own homes valued at 250K and less. Those homes will lose value
because the mortgage deduction will no longer be a tax advantage for them. If they get an income tax cut, it will be eaten away by
having a lower valued home.

This plan will just get the US closer to its day of reckoning when the World decides to quit funding our debt.

 

[IndySteel]

The Dow likes this because its mainly a Wall Street giveaway. Corporations are already sitting on piles of cash because they
don't know where to invest it. If they have more cash they will buy back more of their own stock and pass dividends on to their shareholders.

The people who will be most hurt by this plan are the people who own homes valued at 250K and less. Those homes will lose value
because the mortgage deduction will no longer be a tax advantage for them. If they get an income tax cut, it will be eaten away by
having a lower valued home.

This plan will just get the US closer to its day of reckoning when the World decides to quit funding our debt.

Yes! That is Exactly right! You're a GD genius! You should write a whole chapter about this in your SFB.









Dumbass.

 

[deljzc]

If they can extend the debt ceiling without caving in on DACA we are in for a good January to March.

Sounds like tax bill signed before Christmas.
January is bullshit appropriations and money stuff Congress has to do every January (but expect a LOT of federal agencies funded by discretionary moneys to go down a lot). You might also see Trump reintroduce his plans to fund more wall and fund infrastructure improvements.
February will be Immigration reform with the DACA deadline currently March 1st.

That will be more difficult because I'm not sure they can avoid a filibuster in the Senate on the immigration law. But there will be leverage with the DACA deadline so maybe something win-win is there for Congress to get done.

And I still think next summer (around July) they will revisit Obamacare now that the mandates are gone as part of the tax bill. That changes the "political mumbo-jumbo talk" about that law without the mandates.

Hopefully the dog and pony witch hunt that is Mueller and his team don't **** things up. Because a lot of progress can be made to this country if we just let them get it done and the media wasn't "Sky is Falling" every other ******* day.

 

[21STEELERS21]

I wouldn't count on the tax bill before Christmas. McConnell let the undecided Senators put amendments on the Senate version to get their yes vote.
Now the reconciliation committee is cutting out those amendments in the final version. Collins is one Senator that says her vote turns to no if her
amendments aren't in final version. Flake is another very likely no at this point.

 

[Spike]

Rubio signals support, appearing to give GOP enough votes to pass tax plan

The GOP adjusted the child tax credit to add more benefits for working families as they finalized their tax bill, a change that prompted Sen. Marco Rubio (R-Fla.) to suggest he had dropped his threat of a “no” vote. With his support, Republicans are close to locking down the 50 Senate votes they need to pass the measure.

https://www.washingtonpost.com/

 

[xjx]

Rubio the grandstander

 

[IndySteel]

Rubio the grandstander

He has short man's syndrome.

 

[DBS1970]

Rubio the grandstander

Senator Statefarm

 

[Spike]

HEEL!

Rubio: Yes Sir


Trump: GOOD DOG!

 

[oneforthebus]

The Dow likes this because its mainly a Wall Street giveaway. Corporations are already sitting on piles of cash because they
don't know where to invest it. If they have more cash they will buy back more of their own stock and pass dividends on to their shareholders.

The people who will be most hurt by this plan are the people who own homes valued at 250K and less. Those homes will lose value
because the mortgage deduction will no longer be a tax advantage for them. If they get an income tax cut, it will be eaten away by
having a lower valued home.

This plan will just get the US closer to its day of reckoning when the World decides to quit funding our debt.

You can still deduct mortgage interest up to a $750,000 mortgage, so it will have no effect on people who live in 250,000 houses at all.

The standard deduction will be doubled. Rates will be lower. The child tax credit is being increased, which is money some people will get even if they don't pay taxes. Free money The idea that this bill only helps corporations is just wrong, but the media keeps pushing that trope.

 

[DBS1970]

You can still deduct mortgage interest up to a $750,000 mortgage, so it will have no effect on people who live in 250,000 houses at all.

The standard deduction will be doubled. Rates will be lower. The child tax credit is being increased, which is money some people will get even if they don't pay taxes. Free money The idea that this bill only helps corporations is just wrong, but the media keeps pushing that trope.

Yep if you are like me and don't itemize you get to keep more of your own money because the standard deduction goes up. It will also help small businesses a whole bunch. But the mainstream media will support the stance of their fellow travelers in the Democrat Party no matter if it hairlips hell.

 

[ZonaBurgh]

The Dow likes this because its mainly a Wall Street giveaway. Corporations are already sitting on piles of cash because they
don't know where to invest it. If they have more cash they will buy back more of their own stock and pass dividends on to their shareholders.

The people who will be most hurt by this plan are the people who own homes valued at 250K and less. Those homes will lose value
because the mortgage deduction will no longer be a tax advantage for them. If they get an income tax cut, it will be eaten away by
having a lower valued home.

This plan will just get the US closer to its day of reckoning when the World decides to quit funding our debt.

Guessing if you work for a living and have a retirement plan, the Dow is treating you very favorably. Or are you just jealous of those that work harder and have more than you do?

And onefor is right, no one with a mortgage under 750K will lose their deduction.

 

[Spike]

Final GOP tax bill repeals ObamaCare mandate

The final Republican tax-reform bill unveiled Friday repeals ObamaCare’s individual insurance mandate, leaving the GOP poised to blow a significant hole in the health-care law next week.

The change, which takes effect in 2019, removes one of the least popular parts of ObamaCare, but one that many experts warn is necessary to make the law function smoothly.

Repeal of the mandate was already included in the Senate-passed version of the bill, and its inclusion in the final draft was expected.

The bill appears on track to pass both chambers next week.

http://thehill.com/policy/healthcare/365185-final-gop-tax-bill-repeals-obamacare-mandate

 

[Spike]

Done deal




Sen. Bob Corker To Vote 'Yes' On Tax Bill

Sen. Bob Corker (R-TN), the final Republican holdout on the tax bill, is now planning to vote "yes" on the bill

https://twitter.com/politico/status/941767645833191425/photo/1

 

[xjx]

Most americans and families earning $150,000 or less will likely benefit from doubling the standard deduction. Its unbelievable that mortgage interest up to $750,000 will be deductible. I thought democrats erre against " favoring the rich". Ahh yes, but the dem senators and congressmen are rich. They love this deductikn. Do you think any of them live in a $200,000 house?

 

[deljzc]

This is Trump's and the Republican's equivalence to Obamacare. And while the left (and Tibs) complains "nothing is getting done", this administration got major legislation done 5 months quicker than their hero Obama did.

It is the same type of law. Purely partisan. Will be used as a lightning rod in future elections. Not perfect (by any means). Generally disliked by a majority of Americans (due the smear campaigns both bills received by their political/media opponents).

But make no mistake about it, this tax law is PURELY conservative on its ideals, just like Obamacare was purely socialist on its ideals.

Tibs and liberals don't understand this yet, but this is what many of us voted for. We need BALANCE in these types of blockbuster legislative agendas. Had we elected another democratic President/Congress (or done anything Bernie wanted done), that pushes this country way too far leftist/socialist. We can't afford to be like Europe and maintain our military power. We can't continue to lead the world economies and have millions living off the government tit like Europe does. We can't spend 5% on defense while Europe spends 1%.

The liberal agenda thinks pushing more and more left will fix all our ills, but it won't. It will ruin us.

Every once in a while, we need tax cuts and smaller government (i.e. slower growth vs. democrats, because government never really gets smaller), deregulation and pro-business/pro-rich.

It's the way we work as a country. The pendulum HAS to continue to swing. If it ever stops swinging or only swings one direction for too long, we're screwed.

 

[Ron Burgundy]

Most americans and families earning $150,000 or less will likely benefit from doubling the standard deduction. Its unbelievable that mortgage interest up to $750,000 will be deductible. I thought democrats erre against " favoring the rich". Ahh yes, but the dem senators and congressmen are rich. They love this deductikn. Do you think any of them live in a $200,000 house?

Funny to watch Democrats defend tax deductions for The Rich. LOL

 

[Spike]

Senators Mike Lee, Susan Collins will support GOP tax bill, boosting its chances to pass this week

Sens. Mike Lee and Susan Collins will support the Republican tax plan, they said Monday, solidifying Republican hopes to pass a bill to overhaul the American tax code this week.

GOP Sen. Bob Corker of Tennessee — the only Republican to vote against the Senate's version of the bill — also committed Friday to backing the final plan.

The House plans to vote on the joint legislation on Tuesday. The Senate will move to approve it and send it to President Donald Trump's desk before Thursday.

https://www.cnbc.com/2017/12/18/sen...l-boosting-its-chances-to-pass-this-week.html

 

[hamster]

Tomorrow around noon.

Should be worth tuning in, I would think.

 

[Coach]

91% of the news Trump gets is negative. You just can't trust the press. I think families, business owners, and cooperation's will due better and you will see a trickle down effect as when companies make more profits they tend to hire more and give raises.

The law takes a needle at the sucking powers of Obama Care. Blue states who used to write off federal taxes will get hit the hardest, but why should say Ohio pay federal taxes to off set say California deducing federal taxes because their state tax is too high? Its not right or fair.

 

[3 Hypocycloids]

Haven't seen anyone mention what happens in 10 years if/when the individual income tax breaks are automatically rolled back because their dynamic growth projections are insufficient for the bill to be cost neutral?

Corporations keep their lower tax rate, individuals foot more if the bill.

If it passes, I will benefit in the short term, that is true. I'm not certain that long term I (or most of you) will benefit.

 

[Ron Burgundy]

Haven't seen anyone mention what happens in 10 years if/when the individual income tax breaks are automatically rolled back because their dynamic growth projections are insufficient for the bill to be cost neutral?

Corporations keep their lower tax rate, individuals foot more if the bill.

If it passes, I will benefit in the short term, that is true. I'm not certain that long term I (or most of you) will benefit.

After the Reagan tax cuts, the govt took in 2.5 times as much tax revenue in 1990 than it did in 1980. The Laffer Curve really does work.

 

[IndySteel]

If they pass this bill today I'm going to buy a very nice bottle of scotch tonight.

 

[ark steel]

Haven't seen anyone mention what happens in 10 years if/when the individual income tax breaks are automatically rolled back because their dynamic growth projections are insufficient for the bill to be cost neutral?

Corporations keep their lower tax rate, individuals foot more if the bill.

If it passes, I will benefit in the short term, that is true. I'm not certain that long term I (or most of you) will benefit.

A couple of issue: 1) It cost $0 to let people keep their own money. 2) in the end, the taxes on those corporations ends up being paid by the individuals anyway, doesn't it? It may not be 1-1, but I believe that the corporations are going to pass on higher taxes to the customer to the extent possible.

In theory, I agree with those who promote a national sales tax instead of an income tax. You don't need reams of regulations to define what "income" is, everyone pays something based upon how much they actually spend. Some proponents include a "rebate" that would, essentially mean people under a certain income level will pay nothing. Still. However, I have no confidence that Congress wouldn't **** up what should be simple process by adding exemption upon exemption upon exemption and extra for this, extra for that, blah, blah, blah.

When both sides of the ailse see all of that money sitting, untaxable, in Roth IRA's and realize that a great deal of that belongs to the "rich", you will see renewed interested in a national sales tax in DC, I think.

 

[Roy92040]

The liberal battle cry