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Tax Cuts


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#11 ryanoo

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Posted 20 December 2017 - 02:56 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.... 

I expect to see a slight rise in my tax but I'm not wealthy. 

My SALT deduction loss is higher than the increased standard deduction. 

A little increase in the take home pay will really make people feel happier?

I don't think having a few hundred to thousands $ a year will make people feel any different.

But the rising health insurance premiums and the prospect of losing social safety nets will make people more anxious.

When you look to living into 80s and 90s, medicare and social security matter a lot.  

Let's see what the Republicans talking point will be



#12 redfoliage2

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Posted 20 December 2017 - 03:14 PM

The market is acting like the beginning of selling on the news process after the year-long buying on the rumor...........


Edited by redfoliage2, 20 December 2017 - 03:16 PM.


#13 MikeyG

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Posted 20 December 2017 - 03:32 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.... 

I expect to see a slight rise in my tax but I'm not wealthy. 

My SALT deduction loss is higher than the increased standard deduction. 

A little increase in the take home pay will really make people feel happier?

I don't think having a few hundred to thousands $ a year will make people feel any different.

But the rising health insurance premiums and the prospect of losing social safety nets will make people more anxious.

When you look to living into 80s and 90s, medicare and social security matter a lot.  

Let's see what the Republicans talking point will be

 

 

 

This bill has nothing to do with SS or Medicare, but we do need a long term fix for those



#14 MikeyG

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Posted 20 December 2017 - 03:46 PM

Bringing the corporate tax rate more in line with the rest of the world is a huge win for the economy! 



#15 redfoliage2

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Posted 20 December 2017 - 03:59 PM

The market is indecisive right now.  However, I'd not be surprised if night monkeys push for a 10 SPX point gap up tomorrow morning...............


Edited by redfoliage2, 20 December 2017 - 04:01 PM.


#16 da_cheif

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Posted 20 December 2017 - 04:11 PM

The market is indecisive right now.  However, I'd not be surprised if night monkeys push for a 10 SPX point gap up tomorrow morning...............

so ur long  eh  i am



#17 fib_1618

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Posted 20 December 2017 - 04:27 PM

Bringing the corporate tax rate more in line with the rest of the world is a huge win for the economy! 

 

And so it begins: http://tinyurl.com/y7dphbn7

 

Fib


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#18 LarryT

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Posted 20 December 2017 - 07:17 PM

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

My wages tripled within 5 years after the Regan cuts.


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#19 diogenes227

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Posted 24 December 2017 - 12:49 PM


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.

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#20 ryanoo

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Posted 24 December 2017 - 01:30 PM

Well, I'll be paying an extra $5k due to SALT deduction limit.  This is tax the blue states (CA, NY, NJ, ..) and give to the red states.  I don't see this tax law lasting beyond this Republican congress.