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Old November 7th, 2017, 03:06 PM   #1
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Tax cuts and jobs act.

H.R. 1, “Tax cuts and jobs act”:

Within the proposed “Tax Cuts & Jobs Act”, the populist proposal doubling the standard deduction is of conspicuous merit, and eliminating the alternative minimum tax would be contemptible.
(Increasing the standard deduction would be further improved if it were subject to annual cost of living adjustments).

Consider the alleged pages of Donald Trump's 1040 tax return for 2005 published by the NY Times.
It was conceivable for his effective tax rate upon a $49, 592, 825 adjusted gross income to be less than $5, 310, 616. (Trump then instead had to pay the alternative minimum tax).
The working-poors' wages do not contribute income tax revenues and cannot fund or their dependents' medical insurance, but they contribute 7.65% FICA taxes upon their entire wages. It should be conceivable that some millionaires will be obliged to pay an effective income tax rate of less than 11%, (i.e. 10.7%)?]

Elimination of the alternative minimum tax would effectively reduce our tax revenues and act as a tax boon for only the financially favored. Accusations that FDR was “a traitor to his class” served to enhance his reputation. Elimination of the AMT would enhance president Trump's and Republicans' reputations among the wealthy.

If sufficient numbers of Republicans do not oppose eliminating the AMT, Democrats should be able to hang it, (as the “albatross”), around president Trump's and all Republican candidates' necks.
But there's a difference between “should be” and “will be”. The incompetent Democratic National Committee couldn't defend the reputation of a presidential candidate. John Kerry served in the military with distinction that went beyond simply honorable.

Respectfully, Supposn
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Old November 7th, 2017, 07:57 PM   #2
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Quote:
Originally Posted by Supposn View Post
H.R. 1, “Tax cuts and jobs act”:

Within the proposed “Tax Cuts & Jobs Act”, the populist proposal doubling the standard deduction is of conspicuous merit, and eliminating the alternative minimum tax would be contemptible.
(Increasing the standard deduction would be further improved if it were subject to annual cost of living adjustments).

Consider the alleged pages of Donald Trump's 1040 tax return for 2005 published by the NY Times.
It was conceivable for his effective tax rate upon a $49, 592, 825 adjusted gross income to be less than $5, 310, 616. (Trump then instead had to pay the alternative minimum tax).
The working-poors' wages do not contribute income tax revenues and cannot fund or their dependents' medical insurance, but they contribute 7.65% FICA taxes upon their entire wages. It should be conceivable that some millionaires will be obliged to pay an effective income tax rate of less than 11%, (i.e. 10.7%)?]

Elimination of the alternative minimum tax would effectively reduce our tax revenues and act as a tax boon for only the financially favored. Accusations that FDR was “a traitor to his class” served to enhance his reputation. Elimination of the AMT would enhance president Trump's and Republicans' reputations among the wealthy.

If sufficient numbers of Republicans do not oppose eliminating the AMT, Democrats should be able to hang it, (as the “albatross”), around president Trump's and all Republican candidates' necks.
But there's a difference between “should be” and “will be”. The incompetent Democratic National Committee couldn't defend the reputation of a presidential candidate. John Kerry served in the military with distinction that went beyond simply honorable.

Respectfully, Supposn
This is but ONE of several "Creative" means used in this bill to create new ways to manipulate for the wealthy at the cost of increases for those who cannot afford the people who know how to do so.

The wealthy make out like bandits and everyone else pays for it.
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Old November 8th, 2017, 02:11 PM   #3
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The wealthy make out like bandits and everyone else pays for it.
Perhaps yesterday's elections indicate that this simple truth is slowly penetrating the sluggish mentalities of the American people.
.
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Old November 8th, 2017, 06:38 PM   #4
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Perhaps yesterday's elections indicate that this simple truth is slowly penetrating the sluggish mentalities of the American people.
.
Possibly...likely it is a combination of the many things going wrong with the GOP, it sure is not due to the competence of the DNC.
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Old December 19th, 2017, 10:53 AM   #5
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A tax bill written for the big boys who flood the pols with campaign cash-they're listening to guys who got them there like any good whore would do. In 1980 the 1 percenter's gave 15 % of political contributions-last year it was 40% and the average contribution was a paltry 106K-chump change to the assembled masses I'm sure. I just wish they would stop the charade about being for the working guy-it's insulting. The rich 1% and their minions in Congress don't give a rats ass about anyone who is dumb enough to have to get up each AM and go to work for a paycheck. A plague on all their houses!!!!!!!
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Old December 19th, 2017, 10:57 AM   #6
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A tax bill written for the big boys who flood the pols with campaign cash-they're listening to guys who got them there like any good whore would do. In 1980 the 1 percenter's gave 15 % of political contributions-last year it was 40% and the average contribution was a paltry 106K-chump change to the assembled masses I'm sure. I just wish they would stop the charade about being for the working guy-it's insulting. The rich 1% and their minions in Congress don't give a rats ass about anyone who is dumb enough to have to get up each AM and go to work for a paycheck. A plague on all their houses!!!!!!!
What in the blue blazes is a "pol"?
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Old December 19th, 2017, 11:13 AM   #7
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Quote:
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A tax bill written for the big boys who flood the pols with campaign cash-they're listening to guys who got them there like any good whore would do. In 1980 the 1 percenter's gave 15 % of political contributions-last year it was 40% and the average contribution was a paltry 106K-chump change to the assembled masses I'm sure. I just wish they would stop the charade about being for the working guy-it's insulting. The rich 1% and their minions in Congress don't give a rats ass about anyone who is dumb enough to have to get up each AM and go to work for a paycheck. A plague on all their houses!!!!!!!
It is very disturbing to know that almost 1/3 of our population is oblivious to and actually assisting this corruption of our system of government. Between the Fox News phenomenon and this "Fake News" propaganda machine they will be told they are doing well and believe it. If these folks ever do realize they have been duped, it will be too late to do anything about it and they will be partially blamed by the other 2/3.
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Old December 19th, 2017, 11:39 AM   #8
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Well chaps.. what are your going to spend your windfall on now the tax cut got through?
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Old December 19th, 2017, 11:41 AM   #9
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Well chaps.. what are your going to spend your windfall on now the tax cut got through?
I'm gonna get me a Papa Murphys Pizza....it's pick up so I don't need to tip.
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Old December 19th, 2017, 12:04 PM   #10
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Well chaps.. what are your going to spend your windfall on now the tax cut got through?
Invest in AMERICA!
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Old December 19th, 2017, 12:26 PM   #11
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Invest in AMERICA!
what... like railways...??
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Old December 19th, 2017, 12:34 PM   #12
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what... like railways...??
Likely he means he will spend his tax savings on Piggly Wiggly ribs and family dollar toilet paper which are stores in America even if owned by someone else...that is too complicated to consider. He gets all his news and views from Fox and company so really has no idea what is going on.
The saddest part being that he wont believe it even when it is painfully clear because he will be told not to pay attention.
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Old December 19th, 2017, 12:41 PM   #13
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I'm gonna get me a Papa Murphys Pizza....it's pick up so I don't need to tip.
I find this back of an envelope appoach to taxation and peoples lives is just taking the piss. Do they seriously think that money will "trickle down" to the economy?
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Old December 19th, 2017, 01:11 PM   #14
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I find this back of an envelope appoach to taxation and peoples lives is just taking the piss. Do they seriously think that money will "trickle down" to the economy?
No they don't as it is absolutely clear to anyone who can read that this approach has failed for decades and in fact created the disparity we now face. In truth they simply do not care as long as their owners are happy enough to pay them.
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Old December 19th, 2017, 02:45 PM   #15
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Quote:
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Likely he means he will spend his tax savings on Piggly Wiggly ribs and family dollar toilet paper which are stores in America even if owned by someone else...that is too complicated to consider. He gets all his news and views from Fox and company so really has no idea what is going on.
The saddest part being that he wont believe it even when it is painfully clear because he will be told not to pay attention.
High tech military equipment via my Lockheed Martin stock.

Last edited by Ralph47; December 20th, 2017 at 05:29 AM.
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Old December 19th, 2017, 03:22 PM   #16
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High tech military equipment via my Lockheed Martin stock.
Ewwww...yer a Scawy, scawy hombre an I is ascared.
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Old December 20th, 2017, 04:17 AM   #17
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Ewwww...yer a Scawy, scawy hombre an I is ascared.
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Old December 20th, 2017, 05:29 AM   #18
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High tech military equipment via my Lockheed Martin stock.
Woohoo! L-M stock (much of my 401K) is up 27% since one year ago! Thanks Mr. President!
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Old December 20th, 2017, 07:06 AM   #19
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politician
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Old December 20th, 2017, 07:25 AM   #20
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politician
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