Take control of your brain health with Staying Sharp! Try it today.

Reply
Valued Social Butterfly
1
Kudos
280
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

280 Views
Message 1 of 29

MIDDLE CLASS TAX CUT - REALLY ?

 

I read somewhere recently 83% of the benefit goes to the top 1%.

 

What does that even mean in the age of tax legal tax havens?  What do tax rates mean, what does financial reporting mean?

 

Does anyone, including the US government,  have a clear idea of of how much the top 1% even has to tax or what their income actually is?

 

Why are they hiding money ? They don't want people to know how much they have right? They don't want to be accountable.

 

What is the point of talking about tax rates, how big or how small, or how those rates compare to the rates of ordinary people, when people are hiding money.

 

OH geeeze I pay 35% in taxes on the 35% of the income I let you see, I'm being oppressed, lets make that 21% in taxes on the 35% of income I let you see.

Report Inappropriate Content
1
Kudos
280
Views
Treasured Social Butterfly
0
Kudos
288
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

288 Views
Message 2 of 29

@GailL1 wrote:

@NerdyMom wrote:

My mother makes a little under $50,000 in retirement income and some modest investment income, and she's going to pay more.    

 

 


Ok, I will ask -

How has she determined that she will be paying more? 


She currently has an effective tax rate of around 8%, because she can itemize and deduct so much. Many of those deductions disappear, primarily because she lives in a high SALT state. The bracket changes don’t make a huge difference for her. 

Report Inappropriate Content
0
Kudos
288
Views
Frequent Social Butterfly
0
Kudos
302
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

302 Views
Message 3 of 29

@jimc91 wrote:

You guys are just too funny and predictable! LOL!!

 

Ask your adult working children during February and March of 2018 if their taxes went up or down...

 

The proof is in the pudding.

 

LOL!!

 

The Democrat leadership is LIEING to you and will be caught red handed in February when the working people get a tax cut (about 80 % of working Americans get a tax cut)

 

This is so rich...  A bunch of retired people complaining about the working people getting a tax cut.

 

I guess the FSA is petrified they are going to get less "Free Stuff" at the expense of our children and grandchildren..


Don't you mean the Republican (or the Plutocrat) leadership is LIEING to you?

Report Inappropriate Content
0
Kudos
302
Views
Valued Social Butterfly
0
Kudos
309
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

309 Views
Message 4 of 29

@saworld wrote:

KidBoy2 wrote: It is sad that many on the left do not want to understand that about 80% of working Americans will get a tax cut...but I am not surprised.

Let's be honest for a refreshing change; neither side is telling the WHOLE story. 

 

According to the various studies, yes, many will see a tax cut starting next year just as the GOP says.  My own sinking feeling is this will serve them well for next year's & 2020's elections.

 

However what the GOP doesn't say while the Dems do, is equally true.  And that is that the cuts are skewed toward business, to the wealthy (even on a % income basis), are partisan (SALT), are temporary & followed by tax INCREASES for the MAJORITY in later years.

 

And let us not forget the deficit/debt increase which will undoubtedly cause GOP calls for undesirable spending cuts.  They never stop at this.  For example, the GOP is already holding up CHIP by demanding cuts for its payment to Medicare & the ACA.

 


You seem to take both sides of the issue. Why? Are you for or against the bill. If you are for it come out and say it. If you are against it say it. Tell us why in either case. One of the things that has this country in the mess it is in has been people saying both sides are to blame or are correct. We saw Trump will become like a President if elected. Trump does not mean what he tells people in his campaign speeches. Trump is a business man and will run the govt. as a business. Trump will not hurt SS, Medicare, etc as he has told us. The Rep. are really looking out for the poor, and middle class etc. Well in 12 months we have seen the US become a 3rd world country due to a lot of stupid things done by the people in power. The time for taking both sides ended one year ago. It is now time to fix what is wrong and has caused what has happended to the US. Take a stand.

Report Inappropriate Content
0
Kudos
309
Views
Treasured Social Butterfly
0
Kudos
320
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

320 Views
Message 5 of 29

KidBoy2 wrote: It is sad that many on the left do not want to understand that about 80% of working Americans will get a tax cut...but I am not surprised.

Let's be honest for a refreshing change; neither side is telling the WHOLE story. 

 

According to the various studies, yes, many will see a tax cut starting next year just as the GOP says.  My own sinking feeling is this will serve them well for next year's & 2020's elections.

 

However what the GOP doesn't say while the Dems do, is equally true.  And that is that the cuts are skewed toward business, to the wealthy (even on a % income basis), are partisan (SALT), are temporary & followed by tax INCREASES for the MAJORITY in later years.

 

And let us not forget the deficit/debt increase which will undoubtedly cause GOP calls for undesirable spending cuts.  They never stop at this.  For example, the GOP is already holding up CHIP by demanding cuts for its payment to Medicare & the ACA.

 

Report Inappropriate Content
0
Kudos
320
Views
Valued Social Butterfly
0
Kudos
328
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

328 Views
Message 6 of 29


I posted..

I doubt that she will pay more unless she has a "lot" of investment income.

Has she checked with a tax person or did she hear that from Nancy Pelosi?

========================

I post that and NerdyMom says I insulted her mother. That is unbelievable.

Report Inappropriate Content
0
Kudos
328
Views
Valued Social Butterfly
0
Kudos
342
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

342 Views
Message 7 of 29

@NerdyMom wrote:

My mother makes a little under $50,000 in retirement income and some modest investment income, and she's going to pay more.    

 

 


Ok, I will ask -

How has she determined that she will be paying more? 

* * * * It's Always Something . . . Roseanne Roseannadanna
Report Inappropriate Content
0
Kudos
342
Views
Treasured Social Butterfly
0
Kudos
345
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

345 Views
Message 8 of 29

@KidBoy2 wrote:
NerdyMom posted..

It’s gross for you to attack my mother. She did taxes for a living. I’m sure she knows way more about her own situation than you do. Plus, she’s a republican. She doesn’t listen to Nancy Pelosi. Take your nasty comments somewhere else.

=========================

My post was a comment and it was not nasty..your post was the nasty one and was not called for.

I think you should know that there is a lot of misinformation going around about how the tax cuts will effect people.


Yes it was. You intimated that my mother wasn't smart enough to know her own tax situation.  Instead, you should have just asked why she was paying more.  That is, if you actually cared about tax implications, rather than just finding opportunity to demean and condescend.

Report Inappropriate Content
0
Kudos
345
Views
Valued Social Butterfly
0
Kudos
356
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

356 Views
Message 9 of 29
NerdyMom posted..

It’s gross for you to attack my mother. She did taxes for a living. I’m sure she knows way more about her own situation than you do. Plus, she’s a republican. She doesn’t listen to Nancy Pelosi. Take your nasty comments somewhere else.

=========================

My post was a comment and it was not nasty..your post was the nasty one and was not called for.

I think you should know that there is a lot of misinformation going around about how the tax cuts will effect people.

Report Inappropriate Content
0
Kudos
356
Views
Conversationalist
1
Kudos
362
Views

Re: MIDDLE CLASS TAX CUT - REALLY ?

362 Views
Message 10 of 29

I'm not surprised to hear this.  A lot of us will be in the same boat, and after all the years of hard work and taxes that we paid into the system.

 

What really bothers me even more is that, even though the economy is on the upswing, we seniors are getting a measley 2% COLA.  I know there are specific calculations they used to get this figure, but Congress and the Administration have got to do better for sernios.  No senior should be living at or near poverty, especially after putting into a system for 30 years or more.  I'm even more disappointed and surprised that the AARP has been terribly silent on this matter.  It's time for the Congress to take up this matter and find a more beneficial way to calculate the COLA.  Tax reform is here for now, so there isn't a whole lot we can do at the moment, but we can try to get to our Reps and Senators to take up this matter.  We've got to remember that seniors are about 100 million strong, and we can get people out of Congress as well as replace them.

Report Inappropriate Content
1
Kudos
362
Views