Page 15 of 130 FirstFirst ... 510111213141516171819202565115 ... LastLast
Results 281 to 300 of 2591

Thread: Biggest Reform EVER passed thread

  1. #281
    Punishingly Intricate
    DeacHawk's Avatar
    Join Date
    Mar 2011
    Location
    WINSTON-SALEM
    Posts
    8,841
    Quote Originally Posted by Newenglanddeac View Post
    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
    the article is kind of out of nowhere unless, as you say, something will be included in tax reform. as someone in the program, i hope it's not entirely scrapped. I do think there are reforms that could be done to improve it for public servants as well as the cost for government in the long run.

  2. #282
    Quote Originally Posted by WFcatamount22 View Post
    Ummmm..... Only Norway and Luxemburg have a smaller lower class than the US. Considering our population and diversity we are doing very well.
    Depends on your definition of "very well".

    the table I posted includes the impact of tax transfers on incomes (i.e. cash assistance, earned income tax credits, etc.) but I do not believe it includes the impact of other government programs such as healthcare and free higher education. The lower class may be bigger in the Eurozone, but those people get a lot more help from their governments than poor people here get.

    That fact partially explains other comparative elements to highlight between the US and other rich countries, such economic mobility and overall happiness.

    In the US, if you are born poor, you're very likely to remain poor, especially in the South.

    http://www.pewtrusts.org/en/research...-of-the-states

    And, the US has been falling for years in the "happiness index" which sounds corny but is a measure of overall life satisfaction based on sound data.
    http://news.gallup.com/opinion/gallu...ies-world.aspx

    And as exhaustively discussed in other threads, Americans have worse health outcomes than other countries, despite paying many times more for healthcare. Of course, the poor in America have the worst health outcomes of all.

    the point of all this, when it comes to tax policy, is to simply ask the question "what are the needs of the country, and how should we arrange our tax policy to meet those needs"? The upper income group in America is large, it's doing extremely well, it's sitting on huge piles of cash and investments, and there is no evidence at all for the idea that another big tax cut for that group is going to help any of the serious problems facing America today. The lower income group and middle income groups are heavily burdened by healthcare costs/access and higher education costs. Raising taxes or cutting their benefits to pay for a big tax cut for the wealthy is certainly not going to help.

  3. #283
    Punishingly Intricate
    DeacHawk's Avatar
    Join Date
    Mar 2011
    Location
    WINSTON-SALEM
    Posts
    8,841
    it's out or has been leaked. WSJ has an article but there's a paywall

    Phil Mattingly and Richard Rubin with solid updates if you are on the Twitter

  4. #284

  5. #285
    I found something I like!

    Tax-exempt bonds could no longer be used to build professional sports stadiums.
    Still trying to figure out how they are keeping this under the $1.5T needed to pass the Senate.

  6. #286
    Quote Originally Posted by avalon View Post
    I found something I like!



    Still trying to figure out how they are keeping this under the $1.5T needed to pass the Senate.
    looks like several of the provisions sunset after a few years. That's a favorite dodge to manipulate the CBO score which goes out 10 years. If you sunset a tax break five or six years out, the CBO scores it as though all that revenue reappears in the later years. Of course as we know those cans tend to get kicked down the road so the sunset never happens.

    ETA: before anyone throws partisan darts, i should note that this tactic has been widely used by both parties, very notably so (although in reverse) by Democrats with the ACA.

  7. #287
    Even then! How can you cut the corporate tax rate by 40%, double the income for the top tax bracket, double the estate tax exemption, and not explode the deficit? I'd be interested to know how much revenue will be brought in by eliminating the deduction for interest payments at businesses. Getting rid of the deduction for state and local taxes could be dicey for NY and NJ Republicans. Eliminating the deductions for student loan interest payments, medical costs, and the adoption credit just look bad politically.

    I'm sure people smarter than me will have analyses with numbers out soon.

  8. #288
    By making the biggest changes to the corporate tax rate they can play the game of nobody knows what that will do to companies but we are betting on explosive economic growth so itís neutral.

  9. #289
    The house bill repeals the industry I work in. Fun times.

  10. #290
    Quote Originally Posted by Louis Gossett Jr View Post
    By making the biggest changes to the corporate tax rate they can play the game of nobody knows what that will do to companies but we are betting on explosive economic growth so it’s neutral.
    I have no doubt you are right that they will sell it that way, but if the CBO says it increases the deficit by more than $1.5T, won't it need 60 votes in the Senate?

  11. #291
    PM a mod to cement your internet status forever RJKarl's Avatar
    Join Date
    Mar 2011
    Location
    HB, CA
    Posts
    69,277
    Quote Originally Posted by avalon View Post
    Even then! How can you cut the corporate tax rate by 40%, double the income for the top tax bracket, double the estate tax exemption, and not explode the deficit? I'd be interested to know how much revenue will be brought in by eliminating the deduction for interest payments at businesses. Getting rid of the deduction for state and local taxes could be dicey for NY and NJ Republicans. Eliminating the deductions for student loan interest payments, medical costs, and the adoption credit just look bad politically.

    I'm sure people smarter than me will have analyses with numbers out soon.
    There are 14 Republicans in the CA delegation. Topping the interest deduction at $500K impacts hundreds of thousands of people in CA.

  12. #292
    THE quintessential dwarf palmab03's Avatar
    Join Date
    Jun 2011
    Location
    paradise
    Posts
    44,670
    the new changes save me about $3,400. Sign me up. Taxing the first $90k at 12% for married couples really is a significant change for the middle class. And I don't mind the changes that hurt the people on the coasts, that seems more fair for the country as a whole. Property taxes being limited to $10k sounds about right to me too, we don't need to give tax breaks for people with more than million dollar homes.
    just drivin' round in John Voight's car

  13. #293
    Liberals loooove Donald's tax plan, when they think Hillary pitch it. Team politics in action.

  14. #294
    Tweaking taxes as a whole for anyone that isnít insanely wealthy is just moving money around here and there. Like 3000 dollars more, 3000 dollars less really isnít anything.

  15. #295
    THE quintessential dwarf palmab03's Avatar
    Join Date
    Jun 2011
    Location
    paradise
    Posts
    44,670
    Also, it could be a huge boon to pretty much everyone if you can deduct the home interest + prop taxes AND take the standard deduction. Not sure if it's either/or yet.
    just drivin' round in John Voight's car

  16. #296
    Quote Originally Posted by Deacon923 View Post
    Is there a non-talking points version of this?

    Personally I like my information without all of the spin.

  17. #297
    Quote Originally Posted by palmab03 View Post
    Also, it could be a huge boon to pretty much everyone if you can deduct the home interest + prop taxes AND take the standard deduction. Not sure if it's either/or yet.
    No, mortgage interest, property taxes, charitable contributions are still itemized, not above the line deductions.

  18. #298
    Quote Originally Posted by Newenglanddeac View Post
    Is there a non-talking points version of this?

    Personally I like my information without all of the spin.
    Still has spin, but the actual explanations (not the ridiculous rationales and "considerations") are decent:

    https://waysandmeansforms.house.gov/...by_section.pdf

  19. #299
    THE quintessential dwarf palmab03's Avatar
    Join Date
    Jun 2011
    Location
    paradise
    Posts
    44,670
    And the few states that are negatively affected can alter their own state taxes if they wish.
    just drivin' round in John Voight's car

  20. #300
    Punishingly Intricate
    DeacHawk's Avatar
    Join Date
    Mar 2011
    Location
    WINSTON-SALEM
    Posts
    8,841
    is the $90K at 12% for married couples or single filers?

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •