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The GOP Tax bill
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inkling7
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Joined: 01 Jun 2008
Posts: 6214
Location: Australia

PostPosted: Sun Dec 24, 2017 10:25 pm    Post subject: Lala Land Reply with quote

Ha ha you really are living in la la land if you think these new tax laws are going to have a trickle down affect and the US will not have a huge deficit soon....And that the poor are going to suffer even more and the most of the middle classes are going to end up worse off as well and if has been predicted by several leading economists.... what did you and your lady CPA have for breakfast? Whatever it was it made you both deluded....
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dzu
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Joined: 02 May 2005
Posts: 1250

PostPosted: Sun Jan 07, 2018 1:08 am    Post subject: Republicans Sold Out Americans To Support Trump Reply with quote

Republicans Sold Out Americans To Support Trump, They Will Regret That Very Soon
With 2018 officially underway, we can start gearing up for the midterm elections. We may still have ten months to go before we head to the polls, but Republicans and the voters who still claim to support them, need to reminded every day that they have sold out the American public and gone against our collective wishes in order to appease Donald Trump. They were more afraid of Trump than they were of their voters, and as Ring of Fire’s Farron Cousins explains, we can make them regret that in November.

https://youtu.be/-ggSaw3BaFc


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UnMask



Joined: 18 Sep 2006
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Location: USA East Coast

PostPosted: Tue Jan 09, 2018 7:11 pm    Post subject: It is getting interesting.... Reply with quote

For those of you from outside the U.S., there has been a real shake-up in taxes here.

While the tax rate was lowered from 12% to 10% for the lower earners, it doesn't sound like much.

But what happened is the tax free income (before taxes are levied) went from $12,000 a couple to $24,000. Then there is a fixed amount of $10,000 for a property tax/state income tax credit.

For most lower income couples, this is a large increase of income that is not taxed, up over $10,000! $1,800 savings right away.

When the taxes do kick in, the rates are lower. The people with the highest incomes don't have a rate reduction.

Examples: 12% to 10%.... 15% to 12%.... 25% to 22%... And so on fading out to the same tax rate for the very high earners. (What? You were told something else Question )

So the lowest earners really do better.

Then there's the small business owners. (C Corporations)

My client owns a building and she makes $100,000 over expenses. She was paying $35,000 in federal taxes. She will now pay $21,000. She was stunned when I told her. Over $1,000 a month in her pocket she never dreamed of a month ago.

So the big corporations Question What is happening with the greedy corporations?

Well, there are limited things corporations can do with after tax profits... They can grow the business with construction or hiring. They can hold the funds for later use. They can send out the money through dividends. Half of the Americans own stock and would be recipients of these dividends.

Some corporations are giving bonuses to employees, most about $1,000. So far reports are saying over $1,000,000,000 is being distributed. Some are bringing their lowest paid employees up to $15.00 an hour. No matter what, the funds have to go somewhere...

(The restaurant industry has many exceptions to the above) Crying or Very sad

Now about the stock market? The DOW-Jones measurement is up from 19,000 to 25,000...

The market is up due to an elimination of executive orders (rules not approved by Congress), a reduction of regulations that were restrictive but with-in the law, and a halting of regulations in progress. I'm sure there are more reasons... Cool

But now profits are up 20% just because of taxes alone! That alone pushes up stock prices.

Is there a bubble? I don't know, but the people are better off.

Oh, the lower taxes will mean money will come in from overseas. Gazillion$. More to the U.S. Government, and more to the people.

This is Fun Question Laughing Wink
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Angelina



Joined: 09 Dec 2007
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Location: USA

PostPosted: Tue Jan 09, 2018 8:56 pm    Post subject: Re: It is getting interesting.... Reply with quote

UnMask wrote:
For those of you from outside the U.S., there has been a real shake-up in taxes here.

[...]

This is Fun Question Laughing Wink

I'm in the US but I never had a head for figures and never understood anything about taxes, apart from the fact that you have to pay them and that in life the only sure things are death and taxes.

So this is all Greek to me... Sad Embarassed
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inkling7
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Posts: 6214
Location: Australia

PostPosted: Wed Jan 10, 2018 12:54 am    Post subject: Clogged drains? Reply with quote

Well AT&T gave out $1000 bonuses to 200,00 workers but then proceeded to hand hundred workers just before Xmas and rumours are that a few thousand more will be laid off this year...

They are not the only compamy to lay off workers since the new tax laws were passes either apparently. I will have to try and find the article when I get more time and out the link.

So much for the trickle down effect.... the drain must be clogged up with greedy wankers at the top...
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