Trump Tax Cut Proposal Underway

[laklak]

I'm glad they kept the state and local tax deduction. No state income tax in Florida, but I just paid almost 3Gs in local property taxes. Are they still allowing a deduction for sales tax, I wonder?

[Seabass]

John Cornyn doesn’t have a good answer on tax bill loophole that means millions for Corker and Trump

In a Sunday appearance on ABC’s This Week, Cornyn, the Senate majority whip, was asked by journalist George Stephanopoulos about an International Business Times (IBT) report, which saw Sen. Bob Corker (R-TN) — who was initially a “no” vote — switch to “yes” after a certain provision that would boost his real estate income was added to the tax bill.

[JimC]

Is there no mechanism in your country to charge politicians with corruption?

[pErvinalia]

Yeah, the second amendment and a bullet...

[Brian Peacock]

Hey, it's not illegal for Senators or Senate officials to own property and making law is what the Senate is for. If a new law just happens to benefit a Senator then that's obviously just a coincidence.

[Tyrannical]

I'll be saving around $1500 a year under Trump tax.

[pErvinalia]

It will cost you more in the long run when your country goes down the shitter.

[Brian Peacock]

Hey, it's what feels good now that counts. You scratch that itch America. This is the End Of Days so who needs to worry about the future anyway - let the kids sort it out.

[Tyrannical]

It will cost you more in the long run when your country goes down the shitter.

LOL

The US economy and stock market have been great since Trump was elected, if he gets Tax reform passed in the next few days....... People don't need to like Trump to vote for him if he puts money in your pocket.

[Brian Peacock]

You're forgetting the economic offset of reducing revenues by c.$1.5trillion and raising the national debt by c.$2trillion by 2027, such that the debt-to-GDP ratio will be well over 90%.

[laklak]

Don't know what it will do to us. I'm seeing Magic George the AccountantMage on the 21st to plan what we need to do. Looks like a wash to me in terms of income tax, but we might win on capital gains. That would be good, as we intend to sell pretty much everything this year.

[Tero]

Trump’s only achievement in the 2 or 4 years he serves...I mean tweets and rants:
Final passage of the bill that will reshape the tax system and touch nearly every American is expected early this week, possibly Tuesday or Wednesday.

[Seabass]

Vox: The Republican tax bill got worse: now the top 1% gets 83% of the gains

[Tero]

CNN
Opposition to the bill has grown 10 points since early November, and 55% now oppose it. Just 33% say they favor the GOP's proposals to reform the nation's tax code.

[pErvinalia]