Taxes

Any topic with a chance of polarization - Not for the easily offended.

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engineczar
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Re: Taxes

Post by engineczar » Sat Dec 02, 2017 8:22 pm

You mean the one with the Democrat majority House and Senate? Yeah I remember that.

Firedome8
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Re: Taxes

Post by Firedome8 » Sun Dec 03, 2017 9:02 am

engineczar wrote:
Sat Dec 02, 2017 8:22 pm
You mean the one with the Democrat majority House and Senate? Yeah I remember that.


Robby House, Veteran political campaigner, political enthusiast, Republican
Answered Nov 29 2016
When Bush was sworn in as President in January 2001, the Republican party held a slim majority in the House and in the Senate the split was 50-50 Republican/Democrat. With Vice President Dick Cheney exercising his powers as "President of the Senate" control of the Senate went to the Republicans. This breakdown of power lasted until June 2001 when liberal Republican Senator Jim Jeffords of Vermont became an Independent and caucused with the Democrats giving control of the Senate to the Democrats with Daschle as Majority Leader (Trent Lott as Minority Leader). This was the division of power in Congress until after the 2002 Congressional Midterm elections when Republicans increased their majorities in both Houses of Congress. These majorities were padded in the 2004 Presidential Election Cycle. It was not until after the 2006 Midterm Elections where the Democrats made substantial gains in both houses of Congress throwing control to the Democrats in both the House and Senate for the remainder of Bush's Presidency. So a recap.
CONTROL OF BOTH HOUSES OF CONGRESS DURING PRESIDENT BUSH'S 2 TERMS:
HOUSE of REPRESENTATIVES-
Republican Control 2001-2006
Democrat Control 2007-2008.
SENATE-
Republican Control Jan-June 2001
Democrat Control July 2001-December 2002
Republican Control Jan- 2003- Dec. 2006
Democrat Control January 2007 2008
There was a Republican controlled Congress for four and a half years of George W. Bush

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Re: Taxes

Post by Firedome8 » Sun Dec 03, 2017 9:18 am

johnwooden1.jpg
Thanks every one
johnwooden1.jpg (57.13 KiB) Viewed 395 times

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Re: Taxes

Post by RevTheory » Sun Dec 03, 2017 9:51 am

Firedome8 wrote:
Sun Dec 03, 2017 9:18 am
johnwooden1.jpg
Thanks for attempting to do that. You have to open your mind though...

engineczar
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Re: Taxes

Post by engineczar » Sun Dec 03, 2017 10:02 am

We all have to have an open mind.

The thing I can respect about Firedome is that he doesn't try to pretend to be a Republican like some on this board while at the same time supporting everything he claims to be against.

I may not agree with FD on his politics but I can certainly respect his views and honesty.

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Re: Taxes

Post by RevTheory » Sun Dec 03, 2017 10:59 am

engineczar wrote:
Sun Dec 03, 2017 10:02 am
We all have to have an open mind.

The thing I can respect about Firedome is that he doesn't try to pretend to be a Republican like some on this board while at the same time supporting everything he claims to be against.

I may not agree with FD on his politics but I can certainly respect his views and honesty.
That's a fair point.

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Re: Taxes

Post by dirtracr5 » Sun Dec 03, 2017 1:36 pm

Is there a calculator out there to see how the new tax reform may affect you?

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Re: Taxes

Post by GARY C » Sun Dec 03, 2017 3:41 pm

dirtracr5 wrote:
Sun Dec 03, 2017 1:36 pm
Is there a calculator out there to see how the new tax reform may affect you?
Yes, there was one posted on FB last week and based on the people that commented their taxes were reduced between 600 and 1600 dollars. here is a list of them but I don't know how accurate until they actually pass the bill. https://www.startpage.com/do/search

CBS seems to like it even as hard as they try to make it sound bad... https://www.youtube.com/watch?v=RC4u8Klq08o
Last edited by GARY C on Sun Dec 03, 2017 3:45 pm, edited 1 time in total.

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woody b
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Re: Taxes

Post by woody b » Sun Dec 03, 2017 3:43 pm

I've only glanced at it, but an accurate calculator simply wouldn't be possible. From what I understand some deductions are going to be lost, but the "standard deduction" is going to be doubled. Losing the deductions "could" result in people who itemize paying more, but with the standard deduction going up most people who have been using the itemized deduction will be using the standard deduction, and paying even less that they did with the previous deductions. The current individual tax rates are 10% 15% 25% 28% 33% 35% and 39.6%. The new rates will be 10% 22% 24% 32% 35% and 38.5%. The dollar amount where the rates take affect are higher at most levels too, so this is a tax cut for most people. Corporate tax rates have been lowered also. Tax rates for small businesses earning less than $250K per year have been cut also.

Who loses with the new plan? From what I've seen people and companies who offer paid tax preparation, and tax preparation software. People who "flip" houses will also lose some deductions.

Here's a link to the new plan. https://www.washingtonpost.com/apps/g/p ... day/2264/
Here's a link to the 2016 tax rates. https://www.irs.com/articles/2016-feder ... deductions
I used to be a people person, but people ruined it.

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Re: Taxes

Post by pdq67 » Sun Dec 03, 2017 7:10 pm

Who was the person that pushed through the so-called, "earned income tax credit", for those that don't earn enough to PROBABLY be qualified being called, "lower middle-class"??

I mean folks, let's get real here!! Giving people money they never paid in for that us REAL TAXPAYERS foot the bill for!

Kind a like giving aliens, (legal or not), SS and ALL sorts of other DOLE bennies because they are HERE!!!

Us TAXPAYERS take it up where the sun doesn't shine again!

I bet if we go to their countries, we may be lucky to remain ALIVE, much less taken care of like we do them!!!!

pdq67

PS., I know it's all about the Democrat VOTE, but I really hope that Pres. Trump pushes through REAL VOTER REGISTRATION to stop this crap.

Hell, in my neighborhood/precinct, I have to show citizen ID to VOTE!!

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Re: Taxes

Post by GARY C » Sun Dec 03, 2017 9:49 pm

pdq67 wrote:
Sun Dec 03, 2017 7:10 pm
Who was the person that pushed through the so-called, "earned income tax credit", for those that don't earn enough to PROBABLY be qualified being called, "lower middle-class"??

I mean folks, let's get real here!! Giving people money they never paid in for that us REAL TAXPAYERS foot the bill for!

Kind a like giving aliens, (legal or not), SS and ALL sorts of other DOLE bennies because they are HERE!!!

Us TAXPAYERS take it up where the sun doesn't shine again!

I bet if we go to their countries, we may be lucky to remain ALIVE, much less taken care of like we do them!!!!

pdq67

PS., I know it's all about the Democrat VOTE, but I really hope that Pres. Trump pushes through REAL VOTER REGISTRATION to stop this crap.

Hell, in my neighborhood/precinct, I have to show citizen ID to VOTE!!
My niece worked maybe 10 hours a week, had a useless boyfriend that did nothing, ended up with 3 kids lived on gov everything, rent controlled apartment and got $8000.00 tax return.

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Re: Taxes

Post by Firedome8 » Mon Dec 04, 2017 9:36 am

GARY C wrote:
Sun Dec 03, 2017 9:49 pm
pdq67 wrote:
Sun Dec 03, 2017 7:10 pm
Who was the person that pushed through the so-called, "earned income tax credit", for those that don't earn enough to PROBABLY be qualified being called, "lower middle-class"??

I mean folks, let's get real here!! Giving people money they never paid in for that us REAL TAXPAYERS foot the bill for!

Kind a like giving aliens, (legal or not), SS and ALL sorts of other DOLE bennies because they are HERE!!!

Us TAXPAYERS take it up where the sun doesn't shine again!

I bet if we go to their countries, we may be lucky to remain ALIVE, much less taken care of like we do them!!!!

pdq67

PS., I know it's all about the Democrat VOTE, but I really hope that Pres. Trump pushes through REAL VOTER REGISTRATION to stop this crap.

Hell, in my neighborhood/precinct, I have to show citizen ID to VOTE!!
My niece worked maybe 10 hours a week, had a useless boyfriend that did nothing, ended up with 3 kids lived on gov everything, rent controlled apartment and got $8000.00 tax return.
I see that too only 12000.00 wtf,, then they asked me to lend them money!! I paid 36000.00 in taxes they get 12 grand back. Did the GOP fix that in their tax bill ?

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Re: Taxes

Post by RevTheory » Mon Dec 04, 2017 10:32 am

I used to work my fingers to the damn bone doing shit that would make a "normal" man cringe and I sure as hell never got a tax credit.

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Re: Taxes

Post by GARY C » Mon Dec 04, 2017 12:28 pm

Firedome8 wrote:
Mon Dec 04, 2017 9:36 am
GARY C wrote:
Sun Dec 03, 2017 9:49 pm
pdq67 wrote:
Sun Dec 03, 2017 7:10 pm
Who was the person that pushed through the so-called, "earned income tax credit", for those that don't earn enough to PROBABLY be qualified being called, "lower middle-class"??

I mean folks, let's get real here!! Giving people money they never paid in for that us REAL TAXPAYERS foot the bill for!

Kind a like giving aliens, (legal or not), SS and ALL sorts of other DOLE bennies because they are HERE!!!

Us TAXPAYERS take it up where the sun doesn't shine again!

I bet if we go to their countries, we may be lucky to remain ALIVE, much less taken care of like we do them!!!!

pdq67

PS., I know it's all about the Democrat VOTE, but I really hope that Pres. Trump pushes through REAL VOTER REGISTRATION to stop this crap.

Hell, in my neighborhood/precinct, I have to show citizen ID to VOTE!!
My niece worked maybe 10 hours a week, had a useless boyfriend that did nothing, ended up with 3 kids lived on gov everything, rent controlled apartment and got $8000.00 tax return.
I see that too only 12000.00 wtf,, then they asked me to lend them money!! I paid 36000.00 in taxes they get 12 grand back. Did the GOP fix that in their tax bill ?
I doubt any politician will ever fix that...they would loose half of the voters...but if your 36,000 is correct I am less angry about the 6,700 I had to pay.
If your making that much money then you should give me some... you know, spread the wealth :)

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Re: Taxes

Post by sanfordandson » Mon Dec 04, 2017 1:42 pm

I'll be paying about 30k this year in federal taxes.

It would be interesting to see what I would be paying under the new tax plan.

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