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Biggest Reform EVER passed thread

so great, in fact, that they rewarded the party that passed it with the largest congressional defeat in recent history.
 
Deacon923 said:
so great, in fact, that they rewarded the party that passed it with the largest congressional defeat in recent history.
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well now we gotta vote in the Dems to save all the beachfront property we can afford cause of #taxreform
 
Growing Partisan Divide Over Fairness of the Nation’s Tax System

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who the hell are the 25% of people who care not too much or less about the complexity of the tax system? lol this country is fucked
 
 
avalon said:
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The kiddie tax changes didn’t get a lot of press, but essentially, for unearned income, you went from paying tax at the parent’s marginal rate to paying tax at the rates for trusts and estates, which have incredibly compressed brackets. This eliminated some of the complexities surrounding the kiddie tax, but replaced some of those with different complexities. For kids with earned income and unearned income, it’s even more complex. I don’t think you can say that the changes were generally taxpayer friendly or unfriendly, as each child’s (and parent’s situation is different). It seems like the changes would generally be really unfavorable for situations where the child has mostly unearned income and the parents are in a relatively low bracket, which appears to be the case for the Gold Star families described in the article. Pretty shitty result.
 
palmab03 said:
An extra $100 in your paycheck every 2 weeks is pretty awesome for most of the country
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palmab03 said:
Guess some are getting crumbs, but mine went up more per month than my student loan payments. Works for me.
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palmab03 said:
Dems will be fine. They have Louis Gossett Jr. to let them know that $200 million in bonuses is nothing but crumbs.
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palmab03 said:
could use JHMD's help to explain why the dems telling poor they supposedly champion that close to $2k/yr is just crumbs isn't resonating at the ballot box.
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palmab03 said:
Well most of y'all will get a free years worth of tuition for your kid if the tax reform went through over the next decade, but I guess that's just the crumbs.
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palmab03 said:
Again, odd that you folks keep referring to an amount that makes a difference to real Americans as chump change, crumbs or table scraps. You've got a real sense of the pulse of the everyday american.
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palmab03 said:
Again, you referring to a couple hundred bucks a month as crumbs might just be why the average joe thinks you're an elitist jerk from DC. There are people to which that amount of money matters, and it's most of the country.
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[h=1]Bonuses from 2017 tax cuts amounted to $28 per worker, Congressional researchers say[/h]
$28

$28. That's it.

When the Tax Cut and Jobs Act was signed into law in December 2017, many U.S. companies responded with press releases touting one-time bonuses to their workers. But how much of the savings from lower corporate taxes really went to workers?


Just $28 per worker, according to a new analysis from the Congressional Research Service.
A total of $4.4 billion went out in bonuses last year, estimated the nonpartisan office that's part of the Library of Congress. Divided among the 157 million people in the workforce, that comes out to under $30 apiece. "This amount is 2% to 3% of the corporate tax cut," wrote Jane Gravelle and Donald Marples, the report authors.

[h=4]For comparison, the amount of money companies spent buying back stock was over $1 trillion, the CRS said. In other words, businesses spent 246 times as much money on their own stock as they did on worker bonuses.[/h]
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