Tax Bill
- Thread starter sturg33
- Start date
Kept my state tax deduction as well. I'm a happy guy.
Give more back to the earners and make it easier to become an earner.
Biggest win is eliminating the individual mandate. Huge win. Markets are going to love this.
sturg33
I
I'm disappointed in the removal of the personal exemption, but obviously the standard deduction covers it.
Seems to favor families more than single filers like myself.
But, I've crunched the new numbers and stand to save a few thousand bucks, so tough for me to complain.
sturg33
I
As long as they back it up with substance I'm all ears.
Some of the social media commentary from critics is just pitifully sad. It's scary that these people vote
Personal exception hurts. But I thought I was going to get hit much harder. The rates have gone down on several of my income brakets which is exciting.
The problem will always be the difference in the basic ideology of opportunity vs. Fairness.
sturg33
I
I'm not a huge fan of child tax credits because it further forces non parents to subsidize others.
But, as always, the less taxes people pay the better
sturg33
I
538 did an analysis showing that the overwhelming majority of Americans believe their taxes are going to go up, while in reality the overwhelming majority of peoples taxes will be going down.
That has to be a media issue, right?
Just had that brief argument with Super. The amount of brainwashing the media and education system does in this country is unprecedented. This tax bill is going to help the overwhelming majority of Americans. And that is just the bill itself and the direct impacts it has on your taxable obligation. But further, the residual impact this is going to have on jobs and dividends is immense. I just don't see how people can't see it.
Black unemployment at historic lows
Hispanic unemployment at historic lows
Overall unemployment at historic lows
Why don't people see what is going on here? Why can't issues be debated? It always devolves into, "Trump is an awful human being and is a racist. Oh yeah, he colluded with Russia. Oh, people have jobs now and are making more money? Irrelevant. RUSSIA!!!"
I would personally cap the credit to 2 children. I like the idea of encouraging (incentivizing) families but once you have more than 2 children the rest of the country should not be responsible for your decisions.
sturg33
I
It would certainly be fairer. But the left prefers to discriminate based on earnings.
It would also require non paying citizens to have to actually contribute. That's a non starter for many.
My preference in order:
1. 0% income tax on everyone
2. Everyone pays the same $ amount
3. Everyone pays the same % amount, eliminating brackets
4. National sales tax
5. Our current system
National sales tax would be a tremendous burden on businesses without any revenue generation. I'd have to understand how those costs are counteracted.
European businesses spend a lot in VAT compliance.
bravesnumberone
Well-known member
Need more time to research, but with what I've been reading thus far about the final bill, so far, I'm cautiously supportive.
If you never itemized before this tax bill is a huge win for you. No way to get around that.
Those of us that itemize then the overall benefit is much smaller.
sturg33
I
I hate the idea of national sales tax slightly less than I hate our current system
nsacpi
Expects Yuge Games
I would only tax "social bads." Tobacco is one. But the big one is carbon emissions. I wonder how the public would respond if it was offered the elimination of all other taxes to be entirely replaced by one on carbon emissions. As a practical matter there would have to be a gradual phase-in. As a political matter, some mechanism would have to be found to "compensate" people who live in parts of the country that require more driving. But it is simple and elegant and minimizes the negative incentives to work that taxes on income and payrolls have.