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Biggest Reform EVER passed thread

Do they care about the deficit/debt any more?

when the tax cuts hit the economy will go into overdrive. this will mean we will actually have a surplus and paying other country's debt for sexual favors by the time 2020 hits
 
It does make some sense to eliminate the state tax deduction in theory. States who spend too much subsidize it from those that don't.
 
Doubling the standard deduction for most middle class people will result in $130/mo (25% bracket) or $150/mo (28% bracket) more take home pay per month per person assuming you're in that 25% tax bracket. Not bad, get her done, Pubs.
 
meh, only poors and rubes use the standard deduction. I would prefer they reduce the carried interest and capital gains tax rates.
 
I'd be happy if they would significantly raise the phase outs for tuition tax credits and deduction.
 
I'd be happy if they would significantly raise the phase outs for tuition tax credits and deduction.

It's shocking to me how pretty much everyone in my industry coming out of school seems to be either living with their parents or in like 4-6 people per apartment, and/or have to live a 90 minute commute away. Like $175k in debt coming out of school for a job that doesn't start paying 6 figures until you're 15 years in is absolutely nuts. What good is a $2,500 cap on student loan interest?
 
Fuck the interest, the principal on educational expenses should be deductible as well. It should be treated as a business expense like all the others. It is idiotic that I can deduct my continuing education expenses but I can't deduct my primary education expenses.
 
It's shocking to me how pretty much everyone in my industry coming out of school seems to be either living with their parents or in like 4-6 people per apartment, and/or have to live a 90 minute commute away. Like $175k in debt coming out of school for a job that doesn't start paying 6 figures until you're 15 years in is absolutely nuts. What good is a $2,500 cap on student loan interest?

1. Become a CPA with a degree from Wake's accounting school
2. Join Big 4 firm
3. Have your soul sucked for a couple years
4. Go work internally with a company
5. Profit
 
My big 4 experience wasn't that bad. I did work small market
 
Yeah I didn't mean that to sound like "selling out" just based it on what I've heard from friends who went that route and comparatively to attorneys who go medium to big law right out of law school.
 
meh, only poors and rubes use the standard deduction. I would prefer they reduce the carried interest and capital gains tax rates.

Lower these!

Taking out the state deduction is dumb!
 
The phase outs on student loans is so dumb

I've always said you should be able to pay from pre tax income like a 401k or Roth contribution
 
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