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  1. #101
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    the tax bill is out, any intelligent boukaki from Kosmic Parisite?

  2. #102
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    It cuts the corporate tax rate from 35% to 20% costing $2 trillion―nearly equivalent to their budget cuts from Medicare and Medicaid.\

    It eliminates the Alternative Minimum Tax (AMT)―handing $400 billion in tax cuts to the wealthiest Americans.

    The AMT prevents rich taxpayers like Donald Trump from using excessive deductions and other breaks to sharply reduce or even eliminate their federal income taxes.


    It repeals the estate tax, handing $240 billion to America’s 0.02% wealthiest families―similar to the $200 billion in budget cuts they made to education, job training and social services for seniors and children.



  3. #103
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    House Tax Bill is a Sleight of Hand for Small Business

    the vast majority of real small business owners know they already pay 25% or less, and

    only the very highest "pass-through" income earners - the hedge fund managers and corporate lawyers - would see a rate cut.

    If you look at the big picture, this bill is ultimately giving very rich individuals and big businesses trillions in tax breaks while slashing community services like Medicaid, Medicare and education.

    Ultimately, that’s going to drive the cost of living up and reduce the amount of disposable income that’s being spent in Main Street small businesses.”

    https://www.commondreams.org/newswire/2017/11/02/house-tax-bill-sleight-hand-small-business



  4. #104
    bandwagoner fans suck ducks's Avatar
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    Damn. Thought there would be a real discussion of the tax bill in here but sadly its just more boukaki fake news.

  5. #105
    bandwagoner fans suck ducks's Avatar
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    Hard to have a discussion of a secret tax plan. GOP in congress now doing, and to a greater degree, what they ed about incessantly when Democrats did it.

    SALT deduction is safe though. No way to put that in when they will lose R votes in high cost of living states + united Democratic opposition.
    it is out you fool!

  6. #106
    bandwagoner fans suck ducks's Avatar
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    It cuts the corporate tax rate from 35% to 20% costing $2 trillion―nearly equivalent to their budget cuts from Medicare and Medicaid.\

    It eliminates the Alternative Minimum Tax (AMT)―handing $400 billion in tax cuts to the wealthiest Americans.

    The AMT prevents rich taxpayers like Donald Trump from using excessive deductions and other breaks to sharply reduce or even eliminate their federal income taxes.


    It repeals the estate tax, handing $240 billion to America’s 0.02% wealthiest families―similar to the $200 billion in budget cuts they made to education, job training and social services for seniors and children.



    good more high paying jobs !
    the estate tax is illegal why should the same thing be taxed 5 times!

  7. #107
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    More rich Americans are giving up citizenship to avoid tax

    By the end of the year an estimated 6,813 Americans living overseas will renounce their citizenship,

    In 2016, a total of 5,411 U.S. citizens renounced their citizenship, up 26 percent from 2015. This year appears to again mark a 26 percent increase.

    The number of American citizens renouncing their citizenship began to increase in 2010 and 2011 after the

    Foreign Account Tax Compliance Act (FATCA)

    became law.

    The law’s aim was to curb tax avoidance by Americans living abroad by asking banks and others holding the assets of American citizens to report them to U.S. officials.


    Accounts holding less than $50,000 do not have to be reported under the law, so it mainly impacts wealthy Americans living abroad and those who hold large overseas assets and bank accounts.

    https://www.rawstory.com/2017/11/mor...e+Raw+Story%29

    As with BigCorp, for Americans, maintaining/hiding/increasing wealth beats everything else.



  8. #108
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    Interesting first proposal. Obviously isn't the final bill. Definitely gored some sacred cows.

  9. #109
    Mr. John Wayne CosmicCowboy's Avatar
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    Should make you guys happy. Looks like my taxes will go up.

  10. #110
    ( •_•)>⌐■-■ (⌐■_■) AaronY's Avatar
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    Damn. Thought there would be a real discussion of the tax bill in here but sadly its just more boukaki fake news.
    Surprised if I read it right they decided ending the adoption credit was a good idea for some reason. If anyone was paying attention would provide ammo for the argument that pro lifers only care about babies when they are in the womb and not after
    Last edited by AaronY; 11-02-2017 at 06:52 PM.

  11. #111
    ( •_•)>⌐■-■ (⌐■_■) AaronY's Avatar
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    Like I know they have to make cuts somewhere but that seems a stupid place to do it luckily no one's paying attention or cares

  12. #112
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    Christian Taliban / Christian autocrats will be able to dictate to their sheeple which Christian supremacist to vote for.

    aka, weaponized Freedom of Religion (to impose Christianity on non-Christians)

    The new GOP tax reform bill would politicize churches


    amending a part of the tax law that keeps churches from engaging in explicit political advocacy.

    Embedded within the bill’s more than 400 pages is a small provision that would change an aspect of the so-called “Johnson Amendment,” a provision of the tax codes that prohibits churches, faith communities, and other non-profits from outright endorsing political candidates.


    Under the Johnson Amendment, it is illegal (albeit rarely enforced) for a faith leader to, say, endorse a candidate from the pulpit. Some conservative leaders—including paragons of the Religious Right and Trump’s own lawyer Jay Sekulow—have long argued this law infringes on their freedom of speech or religion.


    The GOP’s new bill appears to placate these concerns, using the following language:

    “…An organization described in section 20 508(c)(1)(A) shall not fail to be treated as organized and operated exclusively for a religious purpose, nor shall it be deemed to have participated in, or intervened in any political campaign on behalf of (or in opposition to) any candidate for public office, solely because of the content of any homily, sermon, teaching, dialectic, or other presentation made during religious services or gatherings, but only if the preparation and presentation of such content—
    (A) is in the ordinary course of the organization’s regular and customary activities in carrying out its exempt purpose, and
    (B) results in the organization incurring not more than de minimis incremental expenses.’’”

    https://thinkprogress.org/gop-tax-re...-215bd7f610c4/
    Last edited by boutons_deux; 11-02-2017 at 06:55 PM.

  13. #113
    ( •_•)>⌐■-■ (⌐■_■) AaronY's Avatar
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    And mainly no one's paying attention because certain moonbats just screeching autistically through threads and such

  14. #114
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    BigOil getting Repugs to clobber wind in preference for NG

    Republican tax bill hits wind power, solar largely unscathed

    https://www.rawstory.com/2017/11/rep...e+Raw+Story%29

    The states are taking care of shutting down solar, then there will be big tariffs on imported panels

  15. #115
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    Republicans propose getting rid of tax break for student loan borrowers

    The Republican tax proposal revealed Thursday could make it harder for borrowers to pay back their student loans.

    As part of the Tax Cuts and Jobs Act, Republican members of Congress are proposing scrapping the student loan interest deduction,

    which allows borrowers to deduct up to $2,500 in interest payments on their student loans from their tax bill.

    House Republicans claim that repealing the deduction along with other education-related tax breaks could save the government $47.5 billion over the next 10 years.

    https://www.marke ch.com/story/re...ers-2017-11-02



  16. #116
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    BigOil gets much need help

    That proposed tax plan would kill the $7,500 electric vehicle credit


    The tax plan proposed by House Republicans has hiding in it the repeal of a $7,500 tax credit that has arguably been one of the main drivers of electric vehicle purchases.

    Removing the credit would almost certainly adversely affect sales of electric cars just as they are beginning to get affordable to the general public.

    https://techcrunch.com/2017/11/02/that-proposed-tax-plan-would-kill-the-7500-electric-vehicle-credit/?ncid=rss&utm_source=feedburner&utm_medium=feed&ut m_campaign=Feed%3A+Techcrunch+%28TechCrunch%29



  17. #117
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    militant zygotism as dictated by Christian Taliban

    The Republican tax plan would allow a saving account for fetuses


    Unborn fetuses would be eligible to be beneficiaries of tax savings accounts under the GOP's new tax plan.

    That means expecting parents would have the option of opening a 529 savings plan, which sets aside money for college or other higher education, before their child is even born.

    Page 93 of the GOP's proposal spells out who counts as an unborn child.


    https://www.rawstory.com/2017/11/the...e+Raw+Story%29

  18. #118
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    Putting aside money for your unborn child bad. Murdering your unborn child good. Good job, Boots.

  19. #119
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    Republican Tax Plan Will Kill US Electric Car Market

    Xavier Mosquet, a senior analyst at Boston Consulting Group, told Automotive News:

    Eliminating the $7,500 credit] will stop any electric vehicle market in the U.S.,

    apart from sales of the highly expensive Tesla Model S.

    There’s no Tesla 3,

    no Bolt,

    no Leaf

    in a market without incentives.

    So why is the U.S. Congress proposing to kill a tax credit for a globally popular new technology that would reduce demand for fossil-fuel burning and cut vehicle emissions?

    http://247wallst.com/autos/2017/11/0...F7+Wall+St.%29



  20. #120
    my unders, my frgn whites pgardn's Avatar
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    We now appear to be uninterested in the deficit.

    So Democrats and Republicans on the same page.
    Unity.

  21. #121
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    Donald Trump Stands to Gain Millions from the Republican Tax Bill

    despite its complexity, the basic thrust of the bill is straightforward:

    the Donald Trumps of the world get caviar;

    the ordinary person gets peanuts; and

    future taxpayers, who will bear the burden of all the new debt issuance necessary to finance the package, get shafted.

    abolishing personal exemptions could hurt middle-class families who have a lot of children.

    As could eliminating the deductions for state and local taxes, health-care expenditures, and student-loan interest.

    in gauging how the legislation would affect corporations and very wealthy people, we can be definitive: they will benefit hugely.

    The measure shifts the burden of taxation in the U.S. from corporations, which are largely run and owned by rich people, to households.

    It cuts the top rate on “pass through” business income—the sort of money generated by sole proprietorships, investment partnerships, and S-corporations—from 39.6 per cent to twenty-five per cent.

    It cuts the top rate on “pass through” business income—the sort of money generated by sole proprietorships, investment partnerships, and S-corporations—from 39.6 per cent to twenty-five per cent.

    fully three-quarters of the over-all tax cuts in the bill are directed at businesses and large estates.

    The bill also repeals the alternative minimum tax, which was designed to ensnare rich people with clever accountants and a lot of sheltered income.

    In doing so, the bill creates enormous incentives for engaging in tax-evasion schemes, particularly the
    conversion of highly paid employees into unincorporated businesses.

    when the central proposals of the G.O.P. plan were already public,

    Trump stood to benefit in three different ways

    First, consider the abolition of the A.M.T.

    According to Trump’s 2005 tax return, parts of which were leaked earlier this year, he paid $38.4 million in federal taxes on income of $152.7 million, which means that his effective tax rate was about twenty-five per cent. But $31.3 million of his payment went to cover his A.M.T. liability. If there hadn’t been an A.M.T., he would have paid just $7.1 million, or about five per cent of his taxable income

    Because Trump owns hundreds of unincorporated businesses, he also stands to be a big beneficiary of the new flat rate on pass-through income.

    In his 2005 tax return, he declared $67.4 million in income from “rental real estate, royalties, partnerships, S corporations, trusts, etc.” Since
    pass-through income is currently taxed like salary income, income of this sort would theoretically be subject to the 39.6-per-cent top rate. In actual fact, Trump offset much of this income by itemizing a huge, unexplained loss that was probably carried over from the early nineteen-nineties. But when those carryovers eventually run out, as they probably have by now, Trump will have a great deal of pass-through income to pay tax on. Thanks to the Republican bill, he’d pay a rate of just twenty-five per cent.

    Finally, there is the abolition of the estate tax.

    To be sure, Trump may have already taken precautions to avoid the estate tax, by, for example, setting up specialized family trusts. But if he lived another ten years and then left his heirs, say, two billion dollars of unsheltered assets, then, under the current system, they would face a federal tax bill of eight hundred million dollars. Under the Republican bill, that liability would disappear.

    https://www.newyorker.com/news/our-columnists/donald-trump-stands-to-gain-millions-from-the-republican-tax-bill?mbid=nl_Daily%20110317&CNDID=43758549&spMaili ngID=12284026&spUserID=MTQzNTk4NzA3ODYzS0&spJobID= 1280301082&spReportId=MTI4MDMwMTA4MgS2

    When politicians can vote themselves money, GAMEOVER.

    America is ed and un able.



  22. #122
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    Repugs pushing a heartbeat bill

    AND

    "The House Republican tax reform bill would completely eliminate the adoption tax credit,

    which has been in the tax code since 1997.

    It was a
    bipartisan achievement pushed through by former Texas Republican Rep. Bill Archer, who was chair of the House Ways and Means Committee.

    Designed to help cover “reasonable and necessary adoption fees, court costs, attorney fees, and other expenses,”

    the credit is available for up to $13,460 per child.

    https://theintercept.com/2017/11/03/republican-abortion-ban-adoption-tax-credit/

    ... AND refusing to fund the child health insurance program.

    Repugs and Christian Taliban aren't pro-life, only pro-birth.


    Last edited by boutons_deux; 11-03-2017 at 04:53 PM.

  23. #123
    Mr. John Wayne CosmicCowboy's Avatar
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    This bill out of the house is nuts. It cant possibly pass in the senate as is because of deficit limits. It pjsses off multiple special interests. Its like they made up 2018 democrat attack ads "republicans hate (fill in the blank) homeowners,veterans, the handicapped, people with critical illnesses, etc. And reverse engineered a tax plan to meet that criteria.

  24. #124
    Take the fcking keys away baseline bum's Avatar
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    This bill out of the house is nuts. It cant possibly pass in the senate as is because of deficit limits. It pjsses off multiple special interests. Its like they made up 2018 democrat attack ads "republicans hate (fill in the blank) homeowners,veterans, the handicapped, people with critical illnesses, etc. And reverse engineered a tax plan to meet that criteria.
    Same thing Ryan tried to do with healthcare. I bet this one has a better chance though.

  25. #125
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    the proposed bill probably won't be passed in this form,

    but it shows the Repug sociopathy, and Repug s' overriding priority to enrich the oligarchy while screwing everybody else.

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