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Thread: Biggest Reform EVER passed thread

  1. #261
    Apparently Sarah Huckabee Sanders opened her press briefing today with this story explaining why we should be OK with tax breaks predominantly benefiting the rich:

    How Taxes Work

    Can't wait to hear all about this tax plan!

  2. #262
    Quote Originally Posted by Wakeforest22890 View Post
    No 2&2 my point is tax policy now can’t change the past so why does it matter how poor people today fare compared to the past if the discussion is about income inequality today. So today poor people can afford better shit than poor people in 1900. Great. Why is that a consideration in tax policy? Or why should it be in your opinion?
    Because someone posted a chart about income inequality in a thread about tax policy, in an effort to say that trickle-down doesn't work. I was responding to that.

    Quote Originally Posted by Wakeforest22890 View Post
    Present to present is how you gauge current income inequality. Just admit you don’t give a shit about income inequality and call it what it is.
    I don't give a shit about income inequality. I've repeatedly said that. I care about standard of living. If my standard of living is good, why the fuck do I care if someone else's is better? Other than jealousy? I don't care if Warren Buffet has a gazillion dollars, congrats to him for his success, it doesn't affect me one way or the other.

  3. #263
    Quote Originally Posted by avalon View Post
    Apparently Sarah Huckabee Sanders opened her press briefing today with this story explaining why we should be OK with tax breaks predominantly benefiting the rich:

    How Taxes Work

    Can't wait to hear all about this tax plan!
    "The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore."

    Man, it sounds like there should be some sort of federal law enforcement to make sure this sort of thing doesn't happen...

  4. #264
    Quote Originally Posted by 2&2 Slider To Leyritz View Post
    I don't give a shit about income inequality. I've repeatedly said that. I care about standard of living. If my standard of living is good, why the fuck do I care if someone else's is worse?
    FIFY

  5. #265
    My concern is less with income inequality per se and more with what the nation chooses to buy with its tax dollars, and what it chooses not to buy with its tax dollars.

    After taking into account tax transfers, and comparing apples to apples across the board, we have a bigger upper class than any rich country (other than Luxembourg) and one of the smallest lower class percentages. We are in the middle-to-lower portion w/r/t size of the middle class. Those that are lower than us on that metric are not countries anybody aspires to imitate (Italy, Spain). Those that are significantly higher are the countries whose policies are seen as worthy of emulation (the Nordics).

    The major difference between being middle class in America and middle class in Europe is about how much value you get from the state. In Europe, broadly speaking, you get high quality health care and education, and a secure retirement. In America, you get a really really big military. The American middle class is getting killed by the obscene cost of health care (whether directly through premiums or indirectly in cost paid by their owned businesses), by the cost of higher education, and for retirement, well, you're on your own to save as much as you can.

    These are well-known problems. Nobody with any sense argues that the American health care, education, or retirement systems are just fine and in no need of reform, additional funding, or both. We have the largest upper class in the world, with the most money, and yet the argument is these poor rich people just need (yet another) tax cut and that trickle will come down and fix all these problems. Well, it won't. It hasn't for the past 30 years, and it is not going to start now. These problems are not amenable to market solutions, they need to be fixed by government policy, and that takes money. The American upper class is big, it has the money, and the rest of the country needs help a lot more than they do.

  6. #266
    Key GOP Senator Susan Collins Lays Out Her Demands for Tax Bill

    “I do not believe that the top rate should be lowered for individuals who are making more than $1 million a year,” Collins said during an interview with Bloomberg News. “I don’t think there’s any need to eliminate the estate tax.”

    Repealing the estate tax and cutting the individual rate from 39.6 percent for top earners “concern me,” she said, adding that she’s conveyed her opposition to party leaders.

  7. #267
    Looks like we're not getting the bill today.

    Tax Bill Delay Gives Republicans More Time to Wrestle With Key Details

    Meanwhile, Rand Paul is speaking directly to Trump in the best way he knows how:


  8. #268
    PM a mod to cement your internet status forever RJKarl's Avatar
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    Let's get it straight. The GOP wants to:

    End ACA subsidies
    End mortgage interest deductions
    End deducting of state and local taxes
    Cut 401K contributions by 50%

    So that they can:

    End "death tax"
    Cut corporate taxes
    Double personal deduction

    Yep, this is really going to help the middle class. It will help the middle class in the Hamptons.

  9. #269
    Not that I disagree with your overall point, but assuming you mean standard deduction when you write "personal deduction" that part should definitely help the middle class.

  10. #270
    Quote Originally Posted by 06deacon View Post
    Not that I disagree with your overall point, but assuming you mean standard deduction when you write "personal deduction" that part should definitely help the middle class.
    They are doubling the standard deduction but eliminating exemptions. More favorable to single and married no kids. Unfavorable to Married with many kids.

    eliminating state tax and mortgage interest deductions hurts upper income people much more than the middle class.
    Last edited by ChrisL68; 11-01-2017 at 12:56 PM.

  11. #271
    Punishingly Intricate
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    Quote Originally Posted by ChrisL68 View Post
    They are doubling the standard deduction but eliminating exemptions. More favorable to single and married no kids. Unfavorable to Married with many kids.
    it's about time us single folk caught a break!

  12. #272

  13. #273
    PM a mod to cement your internet status forever RJKarl's Avatar
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    Quote Originally Posted by ChrisL68 View Post
    They are doubling the standard deduction but eliminating exemptions. More favorable to single and married no kids. Unfavorable to Married with many kids.

    eliminating state tax and mortgage interest deductions hurts upper income people much more than the middle class.
    Depends on what you call "upper income". In CA, NY and a couple of other states, a two income family making $100-150K could be badly impacted.

    When you include cutting 401K deduction by 50%, even modestly priced mortgages ($200-300K) could create a tax hike for many middle class people.

    The myth that cutting corporate taxes will immediately create jobs is RW brainwashing at its most cynical. First of all, American companies are sitting on multiple trillions in cash. If they wanted to expand and hire, they could. Next, without increased demand, why would you hire anyone? A company having more money doesn't create any demand.

  14. #274
    'The Cut Cut Cut Act': Trump, Hill leaders differ on tax reform bill name

    Ryan and Brady have pushed back on the naming of the bill. However, Trump has held firm.

    Trump has been insistent that the bill be called “The Cut Cut Cut Act.”

    Internal White House polling has showed that Americans respond more favorably to language that highlights tax cuts over tax reform, according to a senior White House official.
    lol

  15. #275
    fucking cretin

  16. #276
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    Quote Originally Posted by ChrisL68 View Post
    They are doubling the standard deduction but eliminating exemptions. More favorable to single and married no kids. Unfavorable to Married with many kids.

    eliminating state tax and mortgage interest deductions hurts upper income people much more than the middle class.
    Republicans giving pregnant women yet another reason to get an abortion.

  17. #277
    That’s pretty easy to market against, cut your deductions, cut your Medicare, cut your government services cut cut cut act.

  18. #278
    Scott "Rufio" Feather
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    Quote Originally Posted by Deacon923 View Post
    My concern is less with income inequality per se and more with what the nation chooses to buy with its tax dollars, and what it chooses not to buy with its tax dollars.

    After taking into account tax transfers, and comparing apples to apples across the board, we have a bigger upper class than any rich country (other than Luxembourg) and one of the smallest lower class percentages. We are in the middle-to-lower portion w/r/t size of the middle class. Those that are lower than us on that metric are not countries anybody aspires to imitate (Italy, Spain). Those that are significantly higher are the countries whose policies are seen as worthy of emulation (the Nordics).

    The major difference between being middle class in America and middle class in Europe is about how much value you get from the state. In Europe, broadly speaking, you get high quality health care and education, and a secure retirement. In America, you get a really really big military. The American middle class is getting killed by the obscene cost of health care (whether directly through premiums or indirectly in cost paid by their owned businesses), by the cost of higher education, and for retirement, well, you're on your own to save as much as you can.

    These are well-known problems. Nobody with any sense argues that the American health care, education, or retirement systems are just fine and in no need of reform, additional funding, or both. We have the largest upper class in the world, with the most money, and yet the argument is these poor rich people just need (yet another) tax cut and that trickle will come down and fix all these problems. Well, it won't. It hasn't for the past 30 years, and it is not going to start now. These problems are not amenable to market solutions, they need to be fixed by government policy, and that takes money. The American upper class is big, it has the money, and the rest of the country needs help a lot more than they do.
    Ummmm..... Only Norway and Luxemburg have a smaller lower class than the US. Considering our population and diversity we are doing very well.

  19. #279

  20. #280
    First I've seen of this and this article reeks of a pre-emptive PR move by this advocacy group but something to keep an eye on. Especially if you currently take advantage of public servant loan forgiveness programs or planning your career with this benefit in mind.


    Scrapping loan forgiveness for public servants hurts our democracy

    http://thehill.com/opinion/civil-rig...-our-democracy

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