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Frequent Social Butterfly
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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 1 of 8

@gaudry100 wrote:

What you say is true.  But now is the time for the AARP and ALL seniors to demand a break.  We've worked for 30 years or more, paid our taxes, and contributed to a system that is supposed to give something back when we retire.  So, after 2 years of either a zero percent, or almost zero percent COLA, how do they reward us -- with the largest COLA in years -- a measley 2%.  Even according to Pres. Trump, Social Security is our contract with the government for all we've contributed.  Congress has got to find a better way to calculate the COLA and make sure what we get each year allows us to live decently.  Absolutely NO senior should be living in or close to poverty.  And it's time for the AARP to speak out about this, loudly and clearly.  Seniors are approximately 100 million strong.  We have a voice but aren't using it.  Our reps in the Congress should be made to remember that we can keep them in office or get rid of them.  And the AARP should be doing a better job speaking out about this issue.  I, for one, am not at all happy with how we're being treated.


Then why don't we pick up our phones and call 1-888-OUR-AARP and tell them to speak out about this loudly and clearly.

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 2 of 8

What you say is true.  But now is the time for the AARP and ALL seniors to demand a break.  We've worked for 30 years or more, paid our taxes, and contributed to a system that is supposed to give something back when we retire.  So, after 2 years of either a zero percent, or almost zero percent COLA, how do they reward us -- with the largest COLA in years -- a measley 2%.  Even according to Pres. Trump, Social Security is our contract with the government for all we've contributed.  Congress has got to find a better way to calculate the COLA and make sure what we get each year allows us to live decently.  Absolutely NO senior should be living in or close to poverty.  And it's time for the AARP to speak out about this, loudly and clearly.  Seniors are approximately 100 million strong.  We have a voice but aren't using it.  Our reps in the Congress should be made to remember that we can keep them in office or get rid of them.  And the AARP should be doing a better job speaking out about this issue.  I, for one, am not at all happy with how we're being treated.

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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@Olderscout66 wrote:

IF A BUSINESS PERSON CANNOT MAKE A PROFIT UNDER THE EXISTING LAWS, THEY NEED TO FIND ANOTHER BUSINESS.

 

The Republican alternative is to change the laws so more tax money can be turned over to business people. There is yet to be a peer reviewed study showing the TIF districts and all the other ways of transfering money from the Middle class to the top have ever done what they claimed they would do - expand jobs and commerace so fast it would result in HIGHER tax revenues. What HAS been proven countless times is the ones using the TIF or other taxscam wind up destroying their competition that had to operate under the old rules, then when the tax break ends, the company folds its tents and goes looking for another Republican city council to bilk.


The only way a locality should provide tax incentives to a business to move into that locality is through an incentive based on the number of new employees. These businesses make all sorts of claims about hiring more employees but never seem to follow through.

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 4 of 8

personal bribes to us senators from Vicious Rich Republican Tax Bill.jpg

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 5 of 8

Gail wrote IP

Now if legislators or the President had been singled out as receiving something special, I would be right there compaining but it also helps ordinary people too, probably more of the ordinary than the few of them, and I support that -

 

People who own multi-unit rental complexes are NOT "ordinary" in terms of income - they are the top 10% or higher. Under the current laws, those owning just a few rental properties STILL return over 15% on their investments after paying for all that "upkeep", especially if their tenants receive a Government subsidy for their rent.  While Der Trumper was not the only Oligarch receiving a huge tax windfall from the provision that magically appeared AFTER the tax bill was presented in what GOPers said was the final form, the benefits will derive almost entirely to the Oligarchs - ordinary landlords may get a couple extra bucks, but not the millions going to the major players.

 

And who will replace the services cut to accomodate the hand outs to the Realestate mogals?

Not the Uberrich, that much is certain. Either We The People will lose a service or we'll pay again for what had been paid for by the missing tax revenue.

 

Once again, REpublicans use the tax code to redistribute money from the middle class to the very top, and their lofo base whose money is being taken CHEERS!!

 

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 6 of 8

IF A BUSINESS PERSON CANNOT MAKE A PROFIT UNDER THE EXISTING LAWS, THEY NEED TO FIND ANOTHER BUSINESS.

 

The Republican alternative is to change the laws so more tax money can be turned over to business people. There is yet to be a peer reviewed study showing the TIF districts and all the other ways of transfering money from the Middle class to the top have ever done what they claimed they would do - expand jobs and commerace so fast it would result in HIGHER tax revenues. What HAS been proven countless times is the ones using the TIF or other taxscam wind up destroying their competition that had to operate under the old rules, then when the tax break ends, the company folds its tents and goes looking for another Republican city council to bilk.

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Re: Trump & GOP Senators Give Themselves a Tax Break!

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Message 7 of 8

It also helps ordinary people who invest in rental real estate.

 

Like a friend of mine who owns numerous smaller complexes in rural / smaller towns.  His clientele are poor people who need Section 8 housing.  He doesn't have a ton of employees but hires tons of contractors, tradesmen to keep the places up.  So this business model did not fit into the regular pass-through description.  His properties tend to depreciate rather than appreciate from extreme wear and tear - they have lots of tenant fault fires too so it's not just maintenance but total redo's sometimes involving several units.

 

My Senator, Johnny Isaskson, developes senior living complexes.  They are very nice.  Never checked the price but judging where they are located, I'd guess they are probably modest to high, maybe even some higher.

 

Now these two business structures are in the same category as far as tax structure.  So what will help one in this pass-through rule will also help the other.   Same thing with other types of pass-through businesses - LLCs, partnerships or sole proprietorship - there is a wide spread in amount of income being passed through - giving these type real estate investors a % at a lower rate seems fair to me since the Corporate rate is now 21%.

 

Now if legislators or the President had been singled out as receiving something special, I would be right there compaining but it also helps ordinary people too, probably more of the ordinary than the few of them, and I support that -

 

 

 

* * * * It's Always Something . . . Roseanne Roseannadanna
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Trump & GOP Senators Give Themselves a Tax Break!

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Message 8 of 8

At the very last moment & hoping no one would notice, the GOP snuck in a tax break especially good for those with real estate shell companies.  It's dubbed the "Corker Kickback" because Corker dropped his opposition to the Tax Scam after this last-minute provision was added.  (All just coincidence according to Corker.)  This addition is believed to provide a significant tax cut to 13 GOP senators & of course to Trump too. 

 

Gee what fun they're having, stealing from taxpayers openly & with impunity!

 

Details & stats are at:  

http://www.ibtimes.com/political-capital/republican-senators-will-save-millions-special-real-estate-...

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