Amazon has whacked our affiliate account. Hosting Donations/Commitments $2063 of $1920 (Sept 13/18). In Hand $1466 (Lump sum payments minus paypal graft). Paypal Donation Link Here

Trump's Full Court Press on Tax Reform

For discussion of religion and politics

Moderators: LawBeefaroni, $iljanus

Post Reply
User avatar
hepcat
Posts: 36297
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Thu Feb 01, 2018 11:32 am

Hot Tube?
I beat a camel to death with a monkey. Can I do that?
-Mr Bismarck

You have to whack a few rabbits before you are ready to punch a camel.
-Coopasonic

User avatar
Rip
Posts: 26864
Joined: Tue Oct 12, 2004 9:34 pm
Location: Cajun Country!
Contact:
Rip’s avatar
Snooze

Re: Trump's Full Court Press on Tax Reform

Post by Rip » Thu Feb 01, 2018 11:53 am

Be sure to use Hot Tube Friction Lube.

As seen on TV.

User avatar
Defiant
Posts: 17260
Joined: Tue Oct 12, 2004 11:09 pm
Location: Tongue in cheek

Re: Trump's Full Court Press on Tax Reform

Post by Defiant » Sat Feb 03, 2018 4:54 pm

Social media users are blasting Speaker of the House Paul Ryan on Twitter after he boasted about the GOP tax bill by sharing a story of a Pennsylvania teacher seeing a pay increase of a little over a dollar a week.

“A secretary at a public high school in Lancaster, Pennsylvania, said she was pleasantly surprised her pay went up $1.50 a week she said [that] will more than cover her Costco membership for the year,” Ryan tweeted.
After facing a backlash, he deleted the tweet

link

User avatar
killbot737
Posts: 5604
Joined: Wed Mar 02, 2005 11:19 pm
Location: Next to America Jr.
Festivuus’s avatar
Offline

Re: Trump's Full Court Press on Tax Reform

Post by killbot737 » Sat Feb 03, 2018 7:27 pm

If I had an extra dollar per week I'd spend it on lottery tickets. Maybe I'd feed the birds instead, at least then I'd see immediate results. Tuppence.
There is no hug button. Sad!

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Sat Feb 03, 2018 9:57 pm

Paywall: Washington Post reports that borrowing will jump 84% over last year due to new tax law.

Cue the *completely unexpected and desperate* need to address entitlements...in...3...2...1...

Nothing like borrowing against your children's futures to give money to the extremely wealthy. This is a complete run on the treasury by the plutocrats and it is completely obvious. People should be marching in the streets over this.

User avatar
Skinypupy
Posts: 12187
Joined: Tue Dec 07, 2004 10:12 am
Location: Pac-12 Country

Re: Trump's Full Court Press on Tax Reform

Post by Skinypupy » Mon Feb 12, 2018 4:25 pm

And there it is...right on cue.
Trump's fiscal 2019 budget proposes $1.7 trillion in entitlement cuts over a decade, including $237 billion to Medicare, according to a summary we obtained.
Two thoughts come to mind:
1. If I pay into the safety net my entire life then actually have to use it, that doesn't really make it an "entitlement", now does it?
2. God forbid we take one goddamn cent from our absurdly bloated military to pay for any of this bullshit tax plan.
Last edited by Skinypupy on Mon Feb 12, 2018 4:30 pm, edited 1 time in total.
We are are the last of the legion.
The last of the bastion.
We are the best of the bastards.
And slaves to none.
- "Row Row", Zeal & Ardor

User avatar
Zaxxon
Forum Moderator
Posts: 21084
Joined: Wed Oct 13, 2004 12:11 am
Location: Surrounded by Mountains

Re: Trump's Full Court Press on Tax Reform

Post by Zaxxon » Mon Feb 12, 2018 4:30 pm

Skinypupy wrote:
Mon Feb 12, 2018 4:25 pm
And there it is...right on cue.
Trump's fiscal 2019 budget proposes $1.7 trillion in entitlement cuts over a decade, including $237 billion to Medicare, according to a summary we obtained.
If I pay into the safety net my entire life then actually have to use it, that doesn't really make it an "entitlement", now does it?
On the contrary, that's exactly what makes it an entitlement. You are entitled to it. Unlike the popular usage of the term.

User avatar
Moliere
Posts: 11721
Joined: Sun Sep 03, 2006 10:57 am
Location: Walking through a desert land

Re: Trump's Full Court Press on Tax Reform

Post by Moliere » Mon Feb 12, 2018 4:42 pm

Skinypupy wrote:
Mon Feb 12, 2018 4:25 pm
2. God forbid we take one goddamn cent from our absurdly bloated military to pay for any of this bullshit tax plan.
As long as we're honest that this is a bipartisan problem. It's not accidental that companies like Lockheed, Raytheon, and Northrop Grumman spread their offices and jobs across as many Congressional districts as possible. To the point that even Bernie Sanders doesn't want to report back to his constituents that he voted away their jobs.
"The world is suffering more today from the good people who want to mind other men's business than it is from the bad people who are willing to let everybody look after their own individual affairs." - Clarence Darrow

User avatar
Isgrimnur
Posts: 56791
Joined: Sun Oct 15, 2006 12:29 am
Location: Dallas, TX
Contact:
Isgrimnur’s avatar
Offline

Re: Trump's Full Court Press on Tax Reform

Post by Isgrimnur » Mon Feb 12, 2018 4:46 pm

Tell me what the rules are and I'll tell you how I play the game.
Silver - 3k

People who are wrong often get mad at people who are right. (I have surprisingly never been shot.) (h/t Kevin Underhill, Lowering the Bar)

User avatar
Zarathud
Posts: 13197
Joined: Fri Oct 15, 2004 10:29 pm
Location: Chicago, Illinois

Trump's Full Court Press on Tax Reform

Post by Zarathud » Mon Feb 12, 2018 5:31 pm

Trump is proposing to cut the IRS budget by 6% while they face the enormous task of implementing and interpreting the 2017 Tax Act. There are vast new tax cuts which are poorly defined, and other sections that are ambiguous or flat-out wrong from the last-minute effort. The Trump Administration missed the deadline to identify the priorities of the IRS -- other than requiring the Social Security numbers for earned income tax credits and child tax credits.

Even our tax system's only priority seems to be auditing minorities. So sad.
"If the facts don't fit the theory, change the facts." - Albert Einstein
"When the president does it, that means that it is not illegal. - Nixon
"I don't stand by anything." - Trump
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.” - John Stuart Mill, Inaugural Address Delivered to the University of St Andrews, 2/1/1867

User avatar
Max Peck
Posts: 7009
Joined: Fri Aug 05, 2005 8:09 pm
Location: Down the Rabbit-Hole

Re: Trump's Full Court Press on Tax Reform

Post by Max Peck » Mon Feb 12, 2018 8:18 pm

Zarathud wrote:
Mon Feb 12, 2018 5:31 pm
Trump is proposing to cut the IRS budget by 6% while they face the enormous task of implementing and interpreting the 2017 Tax Act. There are vast new tax cuts which are poorly defined, and other sections that are ambiguous or flat-out wrong from the last-minute effort. The Trump Administration missed the deadline to identify the priorities of the IRS -- other than requiring the Social Security numbers for earned income tax credits and child tax credits.

Even our tax system's only priority seems to be auditing minorities. So sad.
With that budget cut, the IRS will probably never have the resources to finish Trump's audit.
There are worlds out there where the sky is burning, where the sea's asleep and the rivers dream, people made of smoke and cities made of song. Somewhere there's danger, somewhere there's injustice and somewhere else the tea is getting cold. Come on, Ace, we've got work to do.
-- The Doctor

User avatar
Fitzy
Posts: 1959
Joined: Wed Oct 13, 2004 4:15 pm
Location: Silver Spring, MD

Re: Trump's Full Court Press on Tax Reform

Post by Fitzy » Mon Feb 12, 2018 8:58 pm

Max Peck wrote:
Mon Feb 12, 2018 8:18 pm

With that budget cut, the IRS will probably never have the resources to finish Trump's audit.
If they'd finish the audit, the penalties might pay for the 6%

Seriously though, does anyone think the IRS is still auditing Trump? I have my doubts. I mean, I'd be surprised if they were auditing him when he claimed it, but if they were, I'd be very surprised they were still bothering.

User avatar
Zarathud
Posts: 13197
Joined: Fri Oct 15, 2004 10:29 pm
Location: Chicago, Illinois

Re: Trump's Full Court Press on Tax Reform

Post by Zarathud » Mon Feb 12, 2018 9:11 pm

If failing to clap is treason, the poor IRS agent auditing Trump is now "on vacation" in Guantanamo Bay.
"If the facts don't fit the theory, change the facts." - Albert Einstein
"When the president does it, that means that it is not illegal. - Nixon
"I don't stand by anything." - Trump
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.” - John Stuart Mill, Inaugural Address Delivered to the University of St Andrews, 2/1/1867

User avatar
Skinypupy
Posts: 12187
Joined: Tue Dec 07, 2004 10:12 am
Location: Pac-12 Country

Re: Trump's Full Court Press on Tax Reform

Post by Skinypupy » Mon Feb 12, 2018 9:22 pm

Moliere wrote:
Mon Feb 12, 2018 4:42 pm
Skinypupy wrote:
Mon Feb 12, 2018 4:25 pm
2. God forbid we take one goddamn cent from our absurdly bloated military to pay for any of this bullshit tax plan.
As long as we're honest that this is a bipartisan problem. It's not accidental that companies like Lockheed, Raytheon, and Northrop Grumman spread their offices and jobs across as many Congressional districts as possible. To the point that even Bernie Sanders doesn't want to report back to his constituents that he voted away their jobs.
Oh, it absolutely is.

Even more infuriating when any attempt at a discussion about an actual sane military budget is met with WHY DONT YOU SUPPORT THE TROOPS-style screeching.
We are are the last of the legion.
The last of the bastion.
We are the best of the bastards.
And slaves to none.
- "Row Row", Zeal & Ardor

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Tue Feb 13, 2018 8:37 am

Then you have his transportation plan which is basically privatize everything. Here is $200B we found by cutting some rural transportation programs. We'll use that as seed money to privatize all the roads and sell them off to the wealthy. Now I get all the admiration for Russia. It is the model oligarchy target state for our nation.


User avatar
Skinypupy
Posts: 12187
Joined: Tue Dec 07, 2004 10:12 am
Location: Pac-12 Country

Re: Trump's Full Court Press on Tax Reform

Post by Skinypupy » Thu Mar 01, 2018 12:58 pm

You guys may want to sit down for this shocking news, but US corporations are buying back record amounts of stock since the tax cut.
U.S. corporations have announced more than $218 billion in share buybacks since Congress enacted the Republican tax overhaul in December, an investment research firm said on Wednesday.

The California-based firm TrimTabs, which tracks corporate buybacks, said the value of buyback programs announced in February alone surged to $153.7 billion from $59.9 billion in January, smashing a previous monthly record of $133 billion in April 2015.
I'm sure that trickle down will start any...day...now. :lol:
We are are the last of the legion.
The last of the bastion.
We are the best of the bastards.
And slaves to none.
- "Row Row", Zeal & Ardor

Jeff V
Posts: 30388
Joined: Fri Oct 15, 2004 7:17 pm
Location: Nowhere you want to be.

Re: Trump's Full Court Press on Tax Reform

Post by Jeff V » Fri Mar 02, 2018 3:16 pm

My company just announced 4th quarter results. They are taking a $110 million charge relating to costs associated with the "tax cuts." Bonuses and 401(k) matching continue to be abolished and for the umpteenth consecutive year pay increases are expected to be capped at 1%.

User avatar
Kraken
Posts: 32645
Joined: Tue Oct 12, 2004 11:59 pm
Location: The Hub of the Universe
Contact:
Kraken’s avatar
Offline

Re: Trump's Full Court Press on Tax Reform

Post by Kraken » Fri Mar 02, 2018 4:22 pm

Jeff V wrote:
Fri Mar 02, 2018 3:16 pm
My company just announced 4th quarter results. They are taking a $110 million charge relating to costs associated with the "tax cuts." Bonuses and 401(k) matching continue to be abolished and for the umpteenth consecutive year pay increases are expected to be capped at 1%.
That's not how any of this is supposed to work. Maybe your company should go into coal mining instead.

Jeff V
Posts: 30388
Joined: Fri Oct 15, 2004 7:17 pm
Location: Nowhere you want to be.

Re: Trump's Full Court Press on Tax Reform

Post by Jeff V » Fri Mar 02, 2018 4:32 pm

Kraken wrote:
Fri Mar 02, 2018 4:22 pm
Jeff V wrote:
Fri Mar 02, 2018 3:16 pm
My company just announced 4th quarter results. They are taking a $110 million charge relating to costs associated with the "tax cuts." Bonuses and 401(k) matching continue to be abolished and for the umpteenth consecutive year pay increases are expected to be capped at 1%.
That's not how any of this is supposed to work. Maybe your company should go into coal mining instead.
Oh, the company is just steeped in winning though. Sure, our stock is worth only half what it was before the start of this stock market bull run, but hey, massive dividends were just announced!

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Mar 07, 2018 5:50 pm

The IRS changed the max contribution for HSAs for 2018. In March. Down $50. It is a 0.7% change. What the hell. Perhaps just don't increase it next year? My employer just sent us a notice that we will be given an exemption to change our election since we do it in Open Enrollment normally. What a waste of time and money for an insignificant adjustment.

Edit: How is this related to tax reform you ask? The IRS is claiming this is due to a change in the inflation calculation in the tax reform bill. Our country is truly governed by total idiots.

User avatar
LawBeefaroni
Forum Moderator
Posts: 44764
Joined: Fri Oct 15, 2004 3:08 pm
Location: Urbs in Horto, where we only use the old smilies

Re: Trump's Full Court Press on Tax Reform

Post by LawBeefaroni » Wed Mar 07, 2018 5:56 pm

malchior wrote:
Wed Mar 07, 2018 5:50 pm
The IRS changed the max contribution for HSAs for 2018. In March. Down $50. It is a 0.7% change. What the hell. Perhaps just don't increase it next year? My employer just sent us a notice that we will be given an exemption to change our election since we do it in Open Enrollment normally. What a waste of time and money for an insignificant adjustment.

Edit: How is this related to tax reform you ask? The IRS is claiming this is due to a change in the inflation calculation in the tax reform bill. Our country is truly governed by total idiots.
That's crazy.

But you never know. Maybe clawing back $5-10 from everyone that maxed out their HSA will save the country.
" Hey OP, listen to my advice alright." -Tha General
"No scientific discovery is named after its original discoverer." -Stigler's Law of Eponymy, discovered by Robert K. Merton

MYT

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Mar 07, 2018 6:26 pm

LawBeefaroni wrote:
Wed Mar 07, 2018 5:56 pm
But you never know. Maybe clawing back $5-10 from everyone that maxed out their HSA will save the country.
Totally - if you're in the top bracket the government just reclaimed $18.50. That is a tidy sum.

User avatar
Zaxxon
Forum Moderator
Posts: 21084
Joined: Wed Oct 13, 2004 12:11 am
Location: Surrounded by Mountains

Re: Trump's Full Court Press on Tax Reform

Post by Zaxxon » Wed Mar 07, 2018 7:00 pm

Uh-huh. It's clearly cover for a mistake. The economic costs of adjusting down everyone who was maxing out will alone far exceed any benefit to the govt.

User avatar
Zarathud
Posts: 13197
Joined: Fri Oct 15, 2004 10:29 pm
Location: Chicago, Illinois

Re: Trump's Full Court Press on Tax Reform

Post by Zarathud » Wed Mar 07, 2018 8:27 pm

No, it's a hidden tax increase scheduled to bring in $134-500 billion of revenue over 10 years. Chained CPI makes inflation seem lower so tax brackets raise more slowly than CPI salary adjustments. That means you hit higher tax brackets faster. It's a 6% lower adjustment from 2000-2017.
"If the facts don't fit the theory, change the facts." - Albert Einstein
"When the president does it, that means that it is not illegal. - Nixon
"I don't stand by anything." - Trump
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.” - John Stuart Mill, Inaugural Address Delivered to the University of St Andrews, 2/1/1867

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Fri Mar 30, 2018 12:29 pm

GOP tax message hits a snag
A CNBC poll this week stated that just 32 percent of working adults reported having more take-home pay due to the new law, a problem for Republicans hoping to run on the measure and the health of the economy in November.


The GOP has made the tax-cut law the centerpiece of its campaign message, arguing that Republican control of Congress and the White House led to legislation that is putting more money in people’s pockets and stimulating an economy with low unemployment.

Yet the CNBC poll suggested that many people aren’t noticing much of a change from the law, a sentiment that could feed into Democratic arguments that it is helping the rich while doing little for the middle class.
The schadenfreude is real here.
Conservatives say their problem is about messaging. They say they simply have to do more to deliver the news about the tax bill and its benefits.
Good luck with that.

User avatar
Isgrimnur
Posts: 56791
Joined: Sun Oct 15, 2006 12:29 am
Location: Dallas, TX
Contact:
Isgrimnur’s avatar
Offline

Re: Trump's Full Court Press on Tax Reform

Post by Isgrimnur » Fri Mar 30, 2018 12:32 pm

That extra $20 a week is going to have me retiring early. Like five minutes early.
Silver - 3k

People who are wrong often get mad at people who are right. (I have surprisingly never been shot.) (h/t Kevin Underhill, Lowering the Bar)

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Fri Mar 30, 2018 12:42 pm

On the other hand - my check went up significantly. Enough so that I dug in and found out it was a blind guess by ADP. It went down slightly this month but I still am putting aside money and thinking about making an estimated payment to protect myself.

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Apr 11, 2018 3:04 pm

Corker possibly "remorseful" about his vote for the tax cut
“If it ends up costing what has been laid out here, it could well be one of the worst votes I’ve made,” he said at a Senate Budget Committee hearing on the Congressional Budget Office (CBO) estimate that produced the figure.


“I hope that is not the case, I hope there’s other data to assist, whether it’s jobs or growth or whatever,” Corker added.
Criminally stupid or just a criminal. Hard to tell with this bunch.

User avatar
Smoove_B
Posts: 38122
Joined: Wed Oct 13, 2004 12:58 am
Location: Kaer Morhen

Re: Trump's Full Court Press on Tax Reform

Post by Smoove_B » Sun Jun 10, 2018 3:53 pm

Under Trump's watch, national debt tops $21 trillion for first time ever:
About a year ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury.

...

Republicans railed against the national debt level under the Obama administration, when it jumped from $10.6 trillion to $19.9 trillion, nearly doubling, but few have been as outspoken about the situation with Republicans controlling Capitol Hill and the White House.
Weird, right? But I'll just wait here for "But Obama..." and we can get started.

User avatar
Smoove_B
Posts: 38122
Joined: Wed Oct 13, 2004 12:58 am
Location: Kaer Morhen

Re: Trump's Full Court Press on Tax Reform

Post by Smoove_B » Fri Jul 13, 2018 7:53 pm

...and Leon's getting larger!
The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago.

The June deficit pushed the imbalance so far this year to $607.1 billion, 16.1 percent higher than the same period a year ago, the Treasury Department said in its monthly report. The Congressional Budget Office is forecasting that the deficit for the entire budget year will total $793 billion, up 19.1 percent from the prior year, reflecting in part the impact of the $1.5 trillion tax cut that Congress approved in December plus increases in government spending lawmakers approved earlier this year.
I wonder what might have contributed to that?
Revenue from corporate tax payments totaled $41 billion in June, down $20 billion from a year ago. The new report showed that corporate tax payments fell by 33 percent from a year ago and so far this budget year, which began on Oct. 1, are running 20 percent below the same period a year ago.
Wait a second, you pass regulations that give corporations and the wealthy tax breaks and the federal government's deficit increases? It's almost like...it's all going according to plan.

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Fri Jul 13, 2018 10:41 pm

Somewhere out there Arthur Laffer and Grover Norquist are waiting for that sweet, sweet growth to kick in and make those tax cuts revenue positive!

User avatar
GreenGoo
Posts: 37537
Joined: Thu Oct 14, 2004 10:46 pm
Location: Ottawa, ON

Re: Trump's Full Court Press on Tax Reform

Post by GreenGoo » Sat Jul 14, 2018 12:28 am

malchior wrote:
Fri Jul 13, 2018 10:41 pm
Somewhere out there Arthur Laffer and Grover Norquist are waiting for that sweet, sweet growth to kick in and make those tax cuts revenue positive!
'xactly.

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Sat Jul 14, 2018 8:00 am

And almost on cue here they come after the safety net - Administration declares victory in War on Poverty.

User avatar
Skinypupy
Posts: 12187
Joined: Tue Dec 07, 2004 10:12 am
Location: Pac-12 Country

Re: Trump's Full Court Press on Tax Reform

Post by Skinypupy » Sat Jul 14, 2018 10:51 am

malchior wrote:
Sat Jul 14, 2018 8:00 am
And almost on cue here they come after the safety net - Administration declares victory in War on Poverty.
There is not - and never has been - any “war on poverty”. There’s only a war on poor people, and damn are the rich ever winning.

Let’s call it what it actually is.

EDIT: is not, brain no worky
Last edited by Skinypupy on Sat Jul 14, 2018 11:57 pm, edited 1 time in total.
We are are the last of the legion.
The last of the bastion.
We are the best of the bastards.
And slaves to none.
- "Row Row", Zeal & Ardor

User avatar
Unagi
Posts: 16191
Joined: Wed Sep 20, 2006 5:14 pm
Location: Chicago

Re: Trump's Full Court Press on Tax Reform

Post by Unagi » Sat Jul 14, 2018 11:12 pm

The missionary position?


User avatar
Smoove_B
Posts: 38122
Joined: Wed Oct 13, 2004 12:58 am
Location: Kaer Morhen

Re: Trump's Full Court Press on Tax Reform

Post by Smoove_B » Wed Aug 01, 2018 12:57 pm

I can't imagine owing more money, but maybe it's time to call the accountant:
More Americans will be writing a check to the IRS in April because their employers are not withholding enough from their paychecks following the new tax law, the Government Accountability Office says in a new report.

Based on simulations run by the Treasury Department, the GAO says taxes for 30 million Americans — 21 percent of taxpayers — are being underwithheld by their employers, meaning they are getting a larger check this year, but will owe at tax time in April. According to the simulations, 73 percent of taxpayers will be overwithheld and receive a refund from the Internal Revenue Service.
Or not:
Who should be concerned? According to the GAO, a hypothetical taxpayer who is married with two children, earning $180,000 annually, $20,000 of which comes from non-wage income and who itemizes deductions.

User avatar
Isgrimnur
Posts: 56791
Joined: Sun Oct 15, 2006 12:29 am
Location: Dallas, TX
Contact:
Isgrimnur’s avatar
Offline

Re: Trump's Full Court Press on Tax Reform

Post by Isgrimnur » Wed Aug 01, 2018 1:01 pm

:roll:

2016 numbers show the upper limit of the 4th quintile at ~$121k. Top 5% starts at ~$225k.
Silver - 3k

People who are wrong often get mad at people who are right. (I have surprisingly never been shot.) (h/t Kevin Underhill, Lowering the Bar)

malchior
Posts: 7964
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Aug 01, 2018 1:05 pm

I talked about this awhile ago but ADP has been totally screwing up my withholding for my job at very big consulting company. I dug in, got them to agree it was too high...yet they haven't fixed it. So I've made an estimated payment already this year to protect myself from penalties. I really, really would appreciate it if they'd give us a penalty amnesty this year. Especially when they've acknowledged this is a problem of some scope. I'm already getting fisted - now I have to pay extra attention to make sure that fist is deep enough? Sheesh. Ok...I'll stop...gross analogy was gross.

User avatar
LordMortis
Posts: 59409
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Aug 01, 2018 1:06 pm

Smoove_B wrote:
Wed Aug 01, 2018 12:57 pm
Who should be concerned? According to the GAO, a hypothetical taxpayer who is married with two children, earning $180,000 annually, $20,000 of which comes from non-wage income and who itemizes deductions.
That's is 21% of Americans? I find that hard to believe.

I don't find it hard to believe that Tax code was made to confuse, underwithhold, and keep congressional status quo through the 2018 elections. But that's my bias talking. I hate being convinced the GOP is that corrupt but every time I'm afforded the opportunity to change my tune, the GOP shows their teeth and then attacks.

Post Reply