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Biggest Reform EVER passed thread

 
I mean you could also increase FICA taxes on high earners that would do the trick.
 
palmab03 said:
If they keep the AMT, I'd have to think most of the "it's a tax cut for the super rich" whining would have to go away.

It's just a straight FU to high income earners in high tax rate states and a benefit to most all the middle class.
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AMT doesn't impact the super rich it usually impacts people make between like 200,000 a year and a million
 
ChrisL68 said:
AMT doesn't impact the super rich it usually impacts people make between like 200,000 a year and a million
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Yup. And per the JCT score, the group that gets most of the tax cuts are the $100k-500k folks. The people over a million (the super rich) only get 10% of the total change. So it would appear to truly focus on the middle class ($100k-200k) if they kept the AMT.
 
The group that gets most of the tax cuts is the top .1% donor class with the estate tax repeal. Even with just the income tax they get a bigger percentage benefit then the top 1%to 5%
 
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Next Up: Tax Reform

ChrisL68 said:
The group that gets most of the tax cuts is the top .1% donor class with the estate tax repeal. Even with just the income tax they get a bigger percentage benefit then the top 1%to 5%
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I've seen this said, but I don't see it in the numbers . Can you explain it to me?

I see the top .01% reducing their tax rate by .8% and I see their total change as -15 billion of -174 billion, or less than 10% of the change.

At those levels , really there are huge winners and losers within that bracket (California business owners with expensive houses included in the losers)
 
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The benefits for others phase out but not the top 0.1%.

And all of the other aspects of this will provide huge tax planning opportunites for the uber wealthy to shield massive amounts of income from ever being taxed.
 
palmab03 said:
8b43d30ef643250e5a150c02948cb39e.jpg


I've seen this said, but I don't see it in the numbers . Can you explain it to me?

I see the top .01% reducing their tax rate by .8% and I see their total change as -15 billion of -174 billion, or less than 10% of the change.

At those levels , really there are huge winners and losers within that bracket (California business owners with expensive houses included in the losers)
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And if you make under $50,0000, you get to pay more!
 
palmab03 said:
Yup. And per the JCT score, the group that gets most of the tax cuts are the $100k-500k folks. The people over a million (the super rich) only get 10% of the total change. So it would appear to truly focus on the middle class ($100k-200k) if they kept the AMT.
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Hey guys! $100k-200k is middle class!

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ChrisL68 said:
The benefits for others phase out but not the top 0.1%.

And all of the other aspects of this will provide huge tax planning opportunites for the uber wealthy to shield massive amounts of income from ever being taxed.
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50 million americans keep an average credit card balance of $20k. The country isn't so forward thinking that this matters to anyone but people arguing on a message board. Certainly not, #realamerica. Furthermore, you also get plenty of time to get control of the government back to re-tax estates. Its not like rich people are going to tax plan around it and try and die sooner.

WFFaithful said:
And if you make under $50,0000, you get to pay more!
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Not really cause that's all #Obamacare math of treating subsidies paid directly to insurance companies as tax breaks, but I'll refer you to the family making $60k math I used a page back which showed they pay $-0- taxes.
 
 
palmab03 said:
50 million americans keep an average credit card balance of $20k. The country isn't so forward thinking that this matters to anyone but people arguing on a message board. Certainly not, #realamerica. Furthermore, you also get plenty of time to get control of the government back to re-tax estates. Its not like rich people are going to tax plan around it and try and die sooner.
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Saying that you can take back control of government and repeal all of the awful things about this legislation isn't an effective refutation of criticism about said legislation.
 
 
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ChrisL68 said:
Saying that you can take back control of government and repeal all of the awful things about this legislation isn't an effective refutation of criticism about said legislation.
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And saying to any real american "Ignore the $20-40k you'll save over the next 10 years, cause year 11 could possibly suck" is a losing argument.
 
Ah, bringing out a classic. The “only federal income taxes count as taxes” argument.
 
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