GOP releases Tax Reform plan

Discussion in 'Politics' started by Keepingon, Nov 2, 2017.

  1. Keepingon

    Keepingon Well-Known Member

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  2. Keepingon

    Keepingon Well-Known Member

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    Democrats have have been slamming this for weeks without knowing what was in it. At least now they will be informed on what they hate. :hilarious:
     
  3. Rastus

    Rastus ......Deplorable.....

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    Think we'll hear tax breaks for the rich today?
     
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  4. 20_yrs_2_go

    20_yrs_2_go Well-Known Member

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    Here is the general breakdown...if the plan passed today

    Those making up to $24,000 will pay no income tax. For married taxpayers filing jointly, earnings up to $90,000 will be in the 12 percent bracket; earnings up to $260,000 will fall in the 25 percent bracket and earnings up to $1 million would be taxed at the 35 percent rate. Those making above $1 million will fall in the 39.6 percent bracket, which is currently the top rate for millionaires. For unmarried individuals and those filing separately, the bracket thresholds would be half of these amounts, other than the 35 percent bracket, which would be $200,000 for unmarried individuals.
    ---------------------------------
    However there is going to be an increase in the national debt by an estimated 1.5 trillion

    The bill is estimated to cost $1.51 trillion over a decade. Lawmakers must keep the cost of the bill to $1.5 trillion if they want to pass it along party lines and avoid a filibuster by Democrats.

    Read more.....

    https://www.google.com/amp/s/mobile...7/11/02/us/politics/tax-plan-republicans.html
     
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  5. Northern Flash

    Northern Flash Piss on our Flag, get a boycott against you.

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    I've been counting...........4,591 times so far.

    :lmao:
     
  6. Northern Flash

    Northern Flash Piss on our Flag, get a boycott against you.

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    Does anyone else notice how during all of these interviews with those within the Govt., nobody ever says what kind of SPENDING has been slashed?

    I heard some jackwagon say that "once we get this tax plan passed, we'll move toward what we can cut out of the budget".
    Do they really think that we are this stupid? They'll get this passed, adding to the debt, but never pass a single cut. Who are they kidding?
     
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  7. Rastus

    Rastus ......Deplorable.....

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    .....Or the line "How are we going to pay for it?"
    How come those pukes never ask that qquestion when they raise our taxes,
    how we gonna pay for it?
     
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  8. Bubba74

    Bubba74 Well-Known Member

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    Heard an interview today with Pelosi
    she is so worried about the debt that will be add (potentially)
    never cared when Barry ran up ten trillion

    and of course she got in the usual
    "tax cuts for the wealthy"
    "hurts middle class families"
     
  9. SuperCourse

    SuperCourse Well-Known Member

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    Nothing done on carried interest.....
     
  10. Magoo

    Magoo You don't have to be Einstein to figure it out

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    Anyone thought about what your going to do with the extra money?
     
  11. ABFer

    ABFer Super Moderator Staff Member

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    What is carried interest?
     
  12. SuperCourse

    SuperCourse Well-Known Member

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    Wall Street tax break once blasted by Trump preserved in Republican bill

    Carried interest is a share of an investment fund’s profits - typically about 20 percent beyond the return guaranteed to investors - that is paid out to the general partners of private equity, venture capital, real estate and hedge funds.

    Under current law, carried interest income is taxed at the capital gains rate of 20 percent. That is well below the 39.6 percent rate that high earners pay on ordinary wages and salary.

    https://in.reuters.com/article/usa-...mp-preserved-in-republican-bill-idINKBN1D22ZP
     
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  13. Magoo

    Magoo You don't have to be Einstein to figure it out

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    I'm going to Disneyworld
     
  14. Rastus

    Rastus ......Deplorable.....

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    Assuming that's true, it's peanuts compared to the $1.25 trillion Obama added a year.
     
  15. Magoo

    Magoo You don't have to be Einstein to figure it out

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    If there is one dollar increase to the national debt conservatives will not go for it.




    or will they :abnormal:
     
  16. ABFer

    ABFer Super Moderator Staff Member

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    20% beyond the investors' return? Man, talk about pigs at the trough.
     
  17. Rastus

    Rastus ......Deplorable.....

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    Buy NFL tickets.
     
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  18. ABFer

    ABFer Super Moderator Staff Member

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    You might want to wait, they're going to do a reverse split on them soon.
     
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  19. Bubba74

    Bubba74 Well-Known Member

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    those prices will be coming down as the league continues to commit suicide
    (do these owners know the Clintons?)
     
  20. 20_yrs_2_go

    20_yrs_2_go Well-Known Member

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    With a majority gop legislation to add insult upon injury
     

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