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  1. #326
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    New US tax bills would save Apple $47BEEELLION in overseas tax

    A percentage reduction AND no future tax on foreign profits?

    Essentially this means if the firm decided to bring all its assets back home after the proposed cuts came into force, Apple would pay less than half the tax it is currently liable for.

    As well as enjoying this drastically cut rate, future overseas profit wouldn't be taxed again in the US, meaning the fruity biz would gain further benefits should the US Senate and House bills pass in their current form.


    https://www.theregister.co.uk/2017/1..._joy_overseas/



  2. #327
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    ‘I Would Have to Drop Out’: 200 Texas Grad Students Walk Out to Protest GOP Tax Bill

    would count their tuition waivers as taxable income — a move that many said would push them off an already precarious financial cliff and force them to drop out.

    “The university would collapse without our labor,”

    “We grade papers, we work as teaching assistants, we work as tutors, all in addition to our coursework and research.”

    Bloom said he makes about $18,000 a year from teaching, researching and running social media for his department.

    https://www.texasobserver.org/drop-2...-gop-tax-bill/




  3. #328
    my unders, my frgn whites pgardn's Avatar
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    More likely, a lot of Indians and Chinese - like Canada:

    In 2016, the target for the economic class – the category most used by Indian immigrants – was at 160,600. This has now been upped to 172,500. The family reunification class has been increased by 4,000 to 84,000.

    In his statement introducing the immigration plan, McCallum said, “In 2017, economic immigration programs will see an overall increase of 7% over 2016. Immigrants with skills and experience are able to quickly contribute to the Canadian economy and society, improving life for the middle class as they help create jobs, spur innovation and strengthen communities.”

    http://www.hindustantimes.com/world-...oBAGfR9KO.html
    So now us white guys are gonna have to deal with rising Hispanic and black populations, but also smart Chinamen who don't wanna build railroads, and those different black people with dots on the forehead? Sister, this is not who founded this country. This is a country of my type, not some airy fairy ideas.

    I need to find me an injun to kick into a camp, again. And get yourself back to cookin or I'll invite Roy Moore over.

    - Unknown (but we all know them)

  4. #329
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    Amazing, somebody in ing Kansas and/or Missouri has a tiny clue

    Tax cuts are only the start. Social Security and Medicare could be next on the chopping block

    As frustrating as that reality is, the worst may be yet to come. Cuts to Social Security, Medicare and Medicaid are likely to be next on the agenda.

    That seems to be the clear message from congressional leadership. The tax cuts aren’t even law yet, and Republicans are already taking dead aim at safety nets for the elderly and the poor.

    “The driver of our debt is the structure of Social Security and Medicare for future beneficiaries,” Sen. Marco Rubio of Florida said recently.

    Actually, the driver of our debt is reckless and unnecessary tax reductions for the very richest Americans. The Senate bill — endorsed by Sens. Roy Blunt, Pat Roberts and Jerry Moran —illustrates that point explicitly by permanently slashing income taxes for corporations and their shareholders.

    Social Security and Medicare, two quintessential middle-class safety net programs, are next.

    Wealthy Americans have fought against both since they became law.

    Their allies now hold most of the seats in Congress.

    http://www.kansascity.com/opinion/ed...188031329.html



  5. #330
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    After Tax Cuts, GOP Leaders Turn Buzz Saw to Medicare, Social Security

    “Many, including Speaker Ryan, realize that this is a challenge that has to be addressed sooner rather than later,” Jason Pye, Vice President of Legislative Affairs at FreedomWorks told The Daily Beast.

    “Cuts to discretionary spending are always welcome, but this represents around 25 percent of outlays over the next ten years.

    Mandatory spending, including en lements and earned en lements, is around 65 percent of outlays."

    “Medicaid, welfare and food stamps,” could be targets of block-granting or conservative-minded reform, famed anti-tax advocate Grover Norquist told The Daily Beast.

    Ryan has not spoke of en lement reform in political terms. Instead, he’s talked about the need to pursue it as a means of exhibiting fiscal conservatism. "We're going to have to get back next year at en lement reform, which is how you tackle the debt and the deficit," Ryan
    said during a radio appearance. The Speaker has also stated that he has begun to convince the president of the necessity of going down this route.

    https://www.thedailybeast.com/after-...ocial-security

    To Repug assholes like Ryan, rmt, etc, the govt spending is exclusively an accounting, financial, numbers problem.

    Americans who depend on govt spending simply aren't a consideration


  6. #331
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    Poll: People hate the Republican tax plan, but Republican voters are still buying one big lie

    where Republicans sharply depart from other respondents, and reality, in their view of the tax plan is in how they anticipate it affecting the economy:

    Republican optimism about the plan's effect on the economy may be because Republicans agree with the idea that large corporations will use the money they save from tax cuts to create jobs.

    Six in 10 Republicans think this will happen.

    Just over a quarter of Americans overall agree.

    These Republicans might want to check in with all the corporations that have said they won't be using the windfall to create jobs,

    and instead will be directing it to stock buybacks.

    But rank-and-file Republicans probably need something to hold onto to keep believing in their party,

    and buying into the idea that they’ll get direct benefits from this tax bill may be too much even for many of the party faithful—

    in fact, only a third of Republicans believe their own taxes will go down.

    https://www.dailykos.com/stories/201...tail=emaildkre

    And the definitely believe Trash can't release his taxes because IRS is auditing.



  7. #332
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    Trump and GOP Tax Cut Is Handing Corporations Like Ford a Giant Incentive to Move Offshore

    Giant corporations got what they wanted out of Republicans on taxes, now they’re lobbying the Trump administration hard to retain their NAFTA privileges.

    Ford and other giant corporations got what they wanted out of Republicans on taxes, dramatically lower levies on domestic profits and total elimination on foreign profits. That makes Mexico an even more attractive manufacturing site for them than NAFTA did.

    NAFTA has cost Americans nearly a million jobs as thousands of factories migrated to Mexico.

    This exodus of American manufacturing to Mexico has continued apace this year, even as the Trump administration began renegotiating NAFTA, probably because corporations assume they’ll get everything they want in the end.

    Bloomberg reported in October, for example, that firms whose function it is to help corporations move factories from the United States to Mexico had a boom year in 2017, with one reporting it had done more offshoring this year than in any during the previous three decades.

    https://www.alternet.org/labor/trump...-move-offshore



  8. #333
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    Treasury Department admits Senate tax plan won’t pay for itself

    A “dynamic” score that just assumes growth.

    Instead of a dynamic analysis showing that the tax plan would boost annual economic growth by the 0.7 percentage points they need,

    they have an analysis claiming that if you passed that tax plan and did a bunch of other stuff you will get the growth (emphasis added):

    [Office of Tax Policy] compared this 2.9% GDP growth scenario to a baseline of previous projections of 2.2% GDP growth.

    Treasury expects approximately half of this 0.7% increase in growth to come from changes to corporate taxation.

    We expect the other half to come from changes to pass-through taxation and individual tax reform, as well as from a combination of regulatory reform, infrastructure development, and welfare reform as proposed in the Administration’s Fiscal Year 2018 budget.


    Two points on this.


    One is that the budget proposal in question involved
    draconian spending cuts on a huge range of programs — everything from the Appalachian Regional Commission to Meals on Wheels to nutritional assistance for low-income pregnant women gets the axe. So if you want to “dynamically” score the growth benefits of this kind of thing, you also ought to dynamically update the distributional accounts.

    Treasury is basically saying that if you pay for a corporate tax cut by taking money away from the needy, your GDP will grow.

    At some margin, that’s probably true. The economic benefits of having pregnant women able to eat healthy food are not going to show up within a 10-year scoring window.

    Providing meals to home-bound sick, elderly, and disabled people probably doesn’t generate any economic growth at all.

    Your mileage may vary as to whether this is the right way to think about policy.


    The second point is that even House Republicans

    pronounced Trump’s budget proposal dead on arrival when he released it.

    The budget resolution congressional Republicans passed looks totally different from Trump’s proposal, and the negotiations over appropriations

    bills do not envision Trump’s proposals being enacted.

    The administration’s analysis claims, basically, that

    the tax cuts would pay for themselves if and only if they are
    paired with a bunch of other ideas congress already rejected.

    https://www.vox.com/2017/12/11/16761...c-analysis-tax
    Last edited by boutons_deux; 12-11-2017 at 03:23 PM.

  9. #334
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    "There is almost no popular support for the GOP tax plan:

    ...
    one would expect the Trump tax cut bill to be quite popular. And yet, it is actually the most widely-reviled piece of tax legislation in modern American history.

    As FiveThirtyEight’s Harry Enten notes,

    Americans currently view the GOP plan
    more negatively than they did the tax hikes
    passed under Bill Clinton and George H.W. Bush."

    https://www.dailykos.com/stories/201...tail=emaildksc

    Repugs don't care about, ignore "popular" support because they only care about their oligarchy paymasters.



  10. #335
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  11. #336
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    just grandstanding self-promotion, he'll cave, they always do

    Marco Rubio: ‘I’m A No’ On Tax Bill Unless Child Tax Credit Expanded


    http://talkingpointsmemo.com/dc/marc...0%28TPMNews%29

    McConnell will refuse to seat Jones, blocking his Dem vote.



  12. #337
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    just grandstanding self-promotion, he'll cave, they always do

    Marco Rubio: ‘I’m A No’ On Tax Bill Unless Child Tax Credit Expanded


    http://talkingpointsmemo.com/dc/marc...0%28TPMNews%29

    McConnell will refuse to seat Jones, blocking his Dem vote.




    I view it as theater. It will be dramatic and at then at the last minute Rubio will vote for this POS bill.

  13. #338
    Savvy Veteran spurraider21's Avatar
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    as long as the bill s grad students by treating tuition grants as taxable income, im getting screwed.

  14. #339
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    as long as the bill s grad students by treating tuition grants as taxable income, im getting screwed.
    Pussy lib.

  15. #340
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    as long as the bill s grad students by treating tuition grants as taxable income, im getting screwed.
    that's one really nasty item being discussed

    however, I haven't seen any mention of allowing student loan interest to continue to be deducted from gross.

  16. #341
    Savvy Veteran spurraider21's Avatar
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    that's one really nasty item being discussed

    however, I haven't seen any mention of allowing student loan interest to continue to be deducted from gross.
    while that affects me too, less important at the moment. the wife has yet to start med school, so its the tuition grant that's will hurt our wallets more

  17. #342
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    that's one really nasty item being discussed

    however, I haven't seen any mention of allowing student loan interest to continue to be deducted from gross.
    These deductions will remain untouched (they were all repealed in the House bill, left alone in the Senate bill). Of note, repeal of these deductions were some of the most controversial elements of the House plan. None will be repealed in the final version.
    Medical expense deduction
    Tax-free graduate school tuition waivers
    Private activity bonds
    Student loan interest deduction
    Teacher spending deduction

    http://www.cnn.com/2017/12/13/politi...eal/index.html

  18. #343
    Savvy Veteran spurraider21's Avatar
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    These deductions will remain untouched (they were all repealed in the House bill, left alone in the Senate bill). Of note, repeal of these deductions were some of the most controversial elements of the House plan. None will be repealed in the final version.
    Medical expense deduction
    Tax-free graduate school tuition waivers
    Private activity bonds
    Student loan interest deduction
    Teacher spending deduction

    http://www.cnn.com/2017/12/13/politi...eal/index.html
    awesome

    haven't had a chance to read up on that stuff today. good find. its certainly a silver lining in a bill i'm still not ultimately a fan of

  19. #344
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    These deductions will remain untouched (they were all repealed in the House bill, left alone in the Senate bill). Of note, repeal of these deductions were some of the most controversial elements of the House plan. None will be repealed in the final version.
    Medical expense deduction
    Tax-free graduate school tuition waivers
    Private activity bonds
    Student loan interest deduction
    Teacher spending deduction

    http://www.cnn.com/2017/12/13/politi...eal/index.html
    ... but that these were even proposed in all seriousness, even as bargaining chips, proves yet again how ing corrupt, sadistic, pros uted the Repugs are.

  20. #345
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    ... but that these were even proposed in all seriousness, even as bargaining chips, proves yet again how ing corrupt, sadistic, pros uted the Repugs are.
    You guys rail and over-react while the tax plan is in flux. Just wait until it's final - it seems pretty close to that now.

    https://www.usnews.com/opinion/econo...not-armageddon

  21. #346
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    You guys rail and over-react while the tax plan is in flux. Just wait until it's final - it seems pretty close to that now.

    https://www.usnews.com/opinion/econo...not-armageddon
    Do you own a big company? Is this why you're for this tax?

  22. #347
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    Do you own a big company? Is this why you're for this tax?
    Little ole me? Own a big company? Surely you jest. I have already said that I don't support the individual tax cuts. I want the repatriation and bringing the US tax rate more in line with the other countries so that the companies don't flee to Ireland and Canada. At this point what I'm most concerned about is my kids' futures - that they have opportunity. For that to happen, the companies have to stay here.

  23. #348
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    Medical Expense deduction - threshold LOWERED (not cut) from 10% to 7.5%.

  24. #349
    Veteran Th'Pusher's Avatar
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    Little ole me? Own a big company? Surely you jest. I have already said that I don't support the individual tax cuts. I want the repatriation and bringing the US tax rate more in line with the other countries so that the companies don't flee to Ireland and Canada. At this point what I'm most concerned about is my kids' futures - that they have opportunity. For that to happen, the companies have to stay here.
    Your kids will be paying for this POS Trump is ramming through Congress for the rest of their lives. And the proposed corporate tax rate is now 21%, still 70% higher than Ireland’s 12%. Is that going to be enough? Maybe we should go all in on the race to the bottom and go for even lower corporate tax rates like they did in Kansas. That Petri dish seems to be thriving with growth.

  25. #350
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    Your kids will be paying for this POS Trump is ramming through Congress for the rest of their lives. And the proposed corporate tax rate is now 21%, still 70% higher than Ireland’s 12%. Is that going to be enough? Maybe we should go all in on the race to the bottom and go for even lower corporate tax rates like they did in Kansas. That Petri dish seems to be thriving with growth.
    Do you mean as opposed to the over $9.3 trillion that Obama ran up with his shovel-ready jobs, etc.? My favorite being Cash for Clunkers - what a (to borrow a phrase from bou - g*****n stupid waste of good, used parts - I don't know who came up with that BRIGHT idea.

    So what if it's 21% - that's a darn sight better than 38.9% it is now. I, unlike some, am content with incremental change in the right direction. Maybe companies will be willing to forego 8.5% for being in the US but 26.4% more is too steep. Why does it seem like it's all or nothing on the other side?

    https://files.taxfoundation.org/lega...tion-FF525.pdf
    Last edited by rmt; 12-15-2017 at 09:38 PM.

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