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Tax Cuts


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#1 MikeyG

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Posted 20 December 2017 - 12:32 PM

Doubles child tax credit from $1000 to $2000!

 

Awesome! 



#2 fib_1618

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Posted 20 December 2017 - 12:39 PM

Yea....but a couple of Senators decided that having 529 contributions extended to kids from Kindergarten thought high school would take away the government's ability to mold their lives.

 

The bill, in general, is a good one...though the death tax is still in there, and it's not quite as simple as they said it would be.

 

Here's the 1101 page bill for the readers review: http://tinyurl.com/y9btsop9

 

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#3 SemiBizz

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Posted 20 December 2017 - 12:45 PM

So, not quite a post card eh?

 

yes.gif


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#4 MikeyG

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Posted 20 December 2017 - 12:50 PM

Looking at the bill (I used to prepare taxes so I have some knowledge here)

 

Everyone should see a tax cut, expect maybe the wealthy in high taxed states where the SALT deduction is capped.... 



#5 fib_1618

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Posted 20 December 2017 - 01:02 PM

So, not quite a post card eh?

 

yes.gif

 

For some, it will be, but not at all what the President wanted.

 

The major changes took place in the Senate and the House had to go along in order to get it passed.

 

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#6 da_cheif

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Posted 20 December 2017 - 01:50 PM

reagan went thru the same process.....more tax cuts came under him



#7 alexnewbee

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Posted 20 December 2017 - 01:59 PM

reagan went thru the same process.....more tax cuts came under him

Told you I think - interest rate was 16% then. Not 2.5% like now ;)
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#8 alexnewbee

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Posted 20 December 2017 - 02:10 PM

You take a loan. On this loan you take an office, Grand Cherokee and eight boxes "Smirnoff". When Smirnoff is over, it turns out that the Jeep is rust, office puked, and the loan must be repaid. Then you take a second loan three times larger than the first. From it you pay the first loan, buy new Grand Cherokee and sixteen bottles "Absolute".
That is basically how US economy worked, as long as interest rates went down. :D
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#9 SemiBizz

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Posted 20 December 2017 - 02:15 PM

You take a loan. On this loan you take an office, Grand Cherokee and eight boxes "Smirnoff". When Smirnoff is over, it turns out that the Jeep is rust, office puked, and the loan must be repaid. Then you take a second loan three times larger than the first. From it you pay the first loan, buy new Grand Cherokee and sixteen bottles "Absolute".
That is basically how US economy worked, as long as interest rates went down. biggrin.png

 

I think you are saying it's on a perpetual drunken binge... I have to agree there... yes.gif


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#10 da_cheif

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Posted 20 December 2017 - 02:19 PM

 

reagan went thru the same process.....more tax cuts came under him

Told you I think - interest rate was 16% then. Not 2.5% like now wink.png

 

interest rates are gonna sky above 16