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Re: Are seniors being thrown under the tax reform bus?

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Message 11 of 45

@NOTHAPPENING wrote:

@cat2015 wrote:

@NOTHAPPENING wrote:

@Richva wrote:

I want to know who is subsidizing the $1.3 TRILLION the Republicans are adding to the deficit. Oh right.............ME. 


That would be 330 million people times 53% (income tax paying people) or 174,900,000 people!

 

Wrong. Every American will be subsidizing the $1.5 trillion tax cuts because the GOP plans to pay for it by cutting Medicare, Medicaid and Social Security. They've said as much. Their 2018 budget, which proposes the $1.5 trillion in tax cut spending, offsets it by taking $500 billion from Medicare and $1 trillion from Medicaid. If tax cuts are passed, the GOP leadership will pivot immediately to entitlement "reform" (i.e., turning Medicaid into a state block grant,  turning Medicare into a voucher program or raising the age of eligibility, etc.)

 

Meanwhile, cuts to Medicare will be automatically triggered next year by the PAYGO rule if the tax cuts passed.

 


 


You are so wrong on that. Only 53% of the people are paying income taxes. The top 1% pay over 50% of all taxes and you think everyone will be paying. That's a real laugh. The people that need a tax break are those people paying all the taxes. Wake up liberals.


Any group of people making 90% of the total earnings in this country should be paying 90% (not 50%) of the total taxes collected. Wake up Extreme Right Wingers.


"The only thing man learns from history is man learns nothing from history"
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Re: Are seniors being thrown under the tax reform bus?

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Message 12 of 45

@NOTHAPPENING wrote:

@ChasKy53 wrote:

@NOTHAPPENING wrote:

 


Why would any tax accountant like to see a simpler tax program where all would pay less and accountants wouldn't be needed? You see, the tax accountant is not looking forward to serving burgers at Burger King if he/she can even find a replacement job. Sometimes liberals have to think????????????????


What an erroneous post!!


Why not tell me what is erroneous about the posting? Tax accountants are needed for people with complex tax problems. That would be anyone filing under the current U.S. income tax code. If it were as simple as three rates with no deductibles, it could be done by ALL without accountants. Only the most feeble minds would still require an accountant for a personal return.


Only the most feeble of minds would presume that they know why others  use bookkeeping firms to handle their taxes.

 

Only the most feeble of minds would base their assumptions and opinions about the Republican tax (scam) proposal on just "three rates with no deductibles.


"The only thing man learns from history is man learns nothing from history"
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Re: Are seniors being thrown under the tax reform bus?

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Message 13 of 45

@NOTHAPPENING wrote:

@ChasKy53 wrote:

@NOTHAPPENING wrote:

 


It is very clear to me (and many others) that you either don't understand the new tax program, don't want to understand it, don't care because you currently pay no taxes, or are just fond of having government manage YOUR MONEY!


It's very clear to me that you don't have a clue what you're talking about.


I have concluded that you currently don't pay any income tax so you don't give a hoot about the others that are subsidizing YOU. If you did have an income tax liability, you would (if you were thinking logically) want a bigger portion of your own money returned to you.


It's even more clear to me now that you don't know what you're talking about. Your assumptions about my tax situation are entirely wrong. I pay a lot in taxes. Under this Republican tax proposal I will pay more. You ignore CBO reports, the findings of AARP, or any other analysis that disagrees with your erroneous opinions. You really should be a little more independent of all of the extreme right wing sources that you use. But then I guess that ignorance is bliss?


"The only thing man learns from history is man learns nothing from history"
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Re: Are seniors being thrown under the tax reform bus?

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Message 14 of 45

@cat2015 wrote:

@NOTHAPPENING wrote:

@Richva wrote:

I want to know who is subsidizing the $1.3 TRILLION the Republicans are adding to the deficit. Oh right.............ME. 


That would be 330 million people times 53% (income tax paying people) or 174,900,000 people!

 

Wrong. Every American will be subsidizing the $1.5 trillion tax cuts because the GOP plans to pay for it by cutting Medicare, Medicaid and Social Security. They've said as much. Their 2018 budget, which proposes the $1.5 trillion in tax cut spending, offsets it by taking $500 billion from Medicare and $1 trillion from Medicaid. If tax cuts are passed, the GOP leadership will pivot immediately to entitlement "reform" (i.e., turning Medicaid into a state block grant,  turning Medicare into a voucher program or raising the age of eligibility, etc.)

 

Meanwhile, cuts to Medicare will be automatically triggered next year by the PAYGO rule if the tax cuts passed.

 


 


You are so wrong on that. Only 53% of the people are paying income taxes. The top 1% pay over 50% of all taxes and you think everyone will be paying. That's a real laugh. The people that need a tax break are those people paying all the taxes. Wake up liberals.

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Re: Are seniors being thrown under the tax reform bus?

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Message 15 of 45

Ch4010, the answer to your question is that seniors are indeed being thrown under the bus, but future seniors will fare even worse.

 

1. To borrow this amount of money (and $1.5 trillion is a conservative estimate), the federal government has to issue new treasury notes. This drives up interest rates because the government will offer ever higher rates as the national debt rises. Rising interest rates always hurt seniors on fixed incomes. (A higher debt-to-GDP ratio will also slow growth because money will be chasing public debt instead of private investment.)

 

2. According to the GOP 2018 budget (and numerous GOP leaders, like Ryan and Brady) this new debt will be offset by cuts (aka "reforms") to entitlement programs. The 2018 budget assumes these offsets to be $500 billion cut over 10 years from Medicare and $1 trillion from Medicaid.

 

3) If you're in a nursing home, you won't be able to deduct those tens of thousands of dollars a year from your taxes.

 

3) If you own your own home, you won't be able to deduct property taxes (depending on the version of the bill passed).

 

4) You'll be double-taxed for state income taxes and local taxes. So will your children.

 

5) In the Senate bill, all individual deductions go away in 10 years. Corporate deductions are permanent.

 

6) The IRS would change to a more restrictive approach to calculating inflation (chained CPI), so more and more middle-class families would be bumped into a new tax bracket every year. Even if all individual deductions were to be made permanent, this change alone ensures that middle-income families would soon be paying more.

 

What's not to like?

 

 

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Re: Are seniors being thrown under the tax reform bus?

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Message 16 of 45

@NOTHAPPENING wrote:

@Richva wrote:

I want to know who is subsidizing the $1.3 TRILLION the Republicans are adding to the deficit. Oh right.............ME. 


That would be 330 million people times 53% (income tax paying people) or 174,900,000 people!

 

Wrong. Every American will be subsidizing the $1.5 trillion tax cuts because the GOP plans to pay for it by cutting Medicare, Medicaid and Social Security. They've said as much. Their 2018 budget, which proposes the $1.5 trillion in tax cut spending, offsets it by taking $500 billion from Medicare and $1 trillion from Medicaid. If tax cuts are passed, the GOP leadership will pivot immediately to entitlement "reform" (i.e., turning Medicaid into a state block grant,  turning Medicare into a voucher program or raising the age of eligibility, etc.)

 

Meanwhile, cuts to Medicare will be automatically triggered next year by the PAYGO rule if the tax cuts passed.

 


 

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Re: Are seniors being thrown under the tax reform bus?

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Message 17 of 45

@Olderscout66 wrote:

Sorry NOT, but the top of the 1% will be COLLECTING the additional debt plus interest, along with China and other fiscally rational Nations who buy our bonds... until Republicans finally achieve their dream and default, at which time the interest payments will triple.

 

The seniors, military in combat, disabled, full-time workers and young who constitute 95% of your hated 47% will suffer the loss of MORE services and higher State and Local taxes while the wealth of the 1% will continue to absorb 100% of the higher profits, just like they've done for the past 30+ years.


Since the liberal hated 1% already pay most of the taxes, they should receive the most benefit from tax relief BUT you will notice that everyone currently paying income taxes (except for a handful) will receive a tax break.

 

https://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-federal-income-taxes.html

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Re: Are seniors being thrown under the tax reform bus?

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Message 18 of 45
Its all very simple. Its another scheme by the master class to make more money off of their serfs.
So it begins.
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Re: Are seniors being thrown under the tax reform bus?

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Message 19 of 45

@CriticalThinking wrote:

If the House GOP tax plan becomes law, nearly 81 million Americans, 47.5 percent of all tax filers, would pay nothing in federal income taxes next year, according to a calculation by research firm Evercore ISI. That's an increase of more than 6 million additional tax filers owing nothing in income taxes to the federal government.

 

https://www.washingtonpost.com/news/wonk/wp/2017/11/09/nearly-81-million-americans-would-pay-0-under...


From 1916 until WWII, over 50% of Americans NEVER paid federal income tax. In WWII when 16 MILLION were in Uniform and another 4 Million had jobs in Government Defense Plants and everybody else worked on Government Contracts to support the War, driving unemployment into nonexistance, we STILL had 34% of Americans with incomes who paid no federal tax.

 

The GOPers' intense hatred of those retired Seniors, military in war zones, disabled, students and young people who work part-time and the millions of those who work 40 hours a week but still aren't paid enough to pay Federal Income Tax is obscene.

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Re: Are seniors being thrown under the tax reform bus?

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Message 20 of 45

Sorry NOT, but the top of the 1% will be COLLECTING the additional debt plus interest, along with China and other fiscally rational Nations who buy our bonds... until Republicans finally achieve their dream and default, at which time the interest payments will triple.

 

The seniors, military in combat, disabled, full-time workers and young who constitute 95% of your hated 47% will suffer the loss of MORE services and higher State and Local taxes while the wealth of the 1% will continue to absorb 100% of the higher profits, just like they've done for the past 30+ years.

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