Tax Reform

135

Comments

  • gimmesometruth27gimmesometruth27 St. Fuckin LouisPosts: 15,954
    let's do herman cain's 9-9-9 thing, right?
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  • Halifax2TheMaxHalifax2TheMax Posts: 9,554
    Anyone else see Sarah Huckabee Sanders' presser today? Complete with lame jokes and a "See Spot Do Taxes" type tale to dumb it all down to the dumbest level possible as it relates to tax reform, cuts or whatever you want to call the alleged tax reform coming from the Hill. And on a day as grave as today, she was yucking it up like there's no administration crisis or the biggest presidential scandal since Watergate occurring. Disgusting, embarrassing and most amateur administration ever. Seems only 33% currently stands by. Maybe we can see it drop to 15% and take the whole republican party with them. Losers. Tired of winning yet?
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  • I am a patriotI am a patriot Posts: 111
    edited November 1
    Rumor floating around is that the Senate Finance Committee is suggesting that endowment income from tax exempt universities should be taxed at 2%, or previously untaxed royalty income of not for profits should now be taxable in order to cover the tax cuts proposed.

    Those special interest not for profits are gonna shit if that becomes law.
    Post edited by I am a patriot on
  • mickeyratmickeyrat Posts: 13,428
    edited November 1
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    Post edited by mickeyrat on
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  • mickeyratmickeyrat Posts: 13,428
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • Halifax2TheMaxHalifax2TheMax Posts: 9,554
    09/15/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/29/08, 06/30/08, Mansfield, MA; 08/18/08, O2 London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL;

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  • rgambsrgambs Posts: 9,436
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    Monkey Driven, Call this Living?
  • rgambs said:
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    But what about separation of church and state? Does it include Scientology? What about cults? Why not other charitable organizations like Harvard and Yale?
  • CM189191CM189191 Minneapolis via ChicagoPosts: 3,113
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point
    WI 6/27/98 WI 10/8/00 MO 10/11/00 IL 4/23/03 MN 6/26/06 MN 6/27/06 WI 6/30/06 IL 8/5/07 IL 8/21/08 (EV) IL 8/22/08 (EV) IL 8/23/09 IL 8/24/09 IN 5/7/10 IL 6/28/11 (EV) IL 6/29/11 (EV) WI 9/3/11 WI 9/4/11 IL 7/19/13 NE 10/09/14 IL 10/17/14 MN 10/19/14 FL 4/11/16 IL 8/20/16 IL 8/22/16
  • mickeyratmickeyrat Posts: 13,428
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • CM189191CM189191 Minneapolis via ChicagoPosts: 3,113
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    so what there warrants a tax credit? 
    WI 6/27/98 WI 10/8/00 MO 10/11/00 IL 4/23/03 MN 6/26/06 MN 6/27/06 WI 6/30/06 IL 8/5/07 IL 8/21/08 (EV) IL 8/22/08 (EV) IL 8/23/09 IL 8/24/09 IN 5/7/10 IL 6/28/11 (EV) IL 6/29/11 (EV) WI 9/3/11 WI 9/4/11 IL 7/19/13 NE 10/09/14 IL 10/17/14 MN 10/19/14 FL 4/11/16 IL 8/20/16 IL 8/22/16
  • mickeyratmickeyrat Posts: 13,428
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    so what there warrants a tax credit? 


    even with that credit, you STILL do better overall financially than a parent. Even paying a potentially higher tax.

    you want an equal deduction? donate 13k a year.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • ShawshankShawshank Posts: 1,014
    I reform my own taxes by simply not paying myself so much. Although the country as a whole would be in a world of hurt if everyone in my position did that.  I don't need a lot, because I don't really buy a lot of bullshit.  My businesses do well, so I reinvest much of my earnings back into my businesses which eliminates much of the corporate tax, and allows me to upgrade equipment, spend more on marketing, etc. etc.  By not paying myself so much I keep my personal tax rate reasonable, and I ultimately save money and make more money. 
  • rgambsrgambs Posts: 9,436
    rgambs said:
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    But what about separation of church and state? Does it include Scientology? What about cults? Why not other charitable organizations like Harvard and Yale?
    Separation of church and state does not apply.
    All organizations should be taxed on any income which isn't used directly for charitable services.
    Monkey Driven, Call this Living?
  • CM189191CM189191 Minneapolis via ChicagoPosts: 3,113
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    so what there warrants a tax credit? 


    even with that credit, you STILL do better overall financially than a parent. Even paying a potentially higher tax.

    you want an equal deduction? donate 13k a year.
    yes, this is a financial decision I made.  How does that explain or justify a tax credit?  Why shouldn't I be afforded the same tax credit?
    WI 6/27/98 WI 10/8/00 MO 10/11/00 IL 4/23/03 MN 6/26/06 MN 6/27/06 WI 6/30/06 IL 8/5/07 IL 8/21/08 (EV) IL 8/22/08 (EV) IL 8/23/09 IL 8/24/09 IN 5/7/10 IL 6/28/11 (EV) IL 6/29/11 (EV) WI 9/3/11 WI 9/4/11 IL 7/19/13 NE 10/09/14 IL 10/17/14 MN 10/19/14 FL 4/11/16 IL 8/20/16 IL 8/22/16
  • benjsbenjs Toronto, ONPosts: 6,926
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    so what there warrants a tax credit? 


    even with that credit, you STILL do better overall financially than a parent. Even paying a potentially higher tax.

    you want an equal deduction? donate 13k a year.
    yes, this is a financial decision I made.  How does that explain or justify a tax credit?  Why shouldn't I be afforded the same tax credit?
    I posted this on the 2nd page, not sure if you read it.

    I think the government's MO is pretty clear: identify the barriers to opportunity in the lives of the populace (those barriers are typically 'burdens' such as student loans, mortgages, or dependents), and attempt to introduce tax credit such that the burden-to-opportunity ratio is approximately equitable across all persons. This is a ratio, and is not measured in dollars. Your taxes, and the taxes of a parent of two, are designed to leave you and the parent of two with a similar burden-to-opportunity ratio. 
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  • Gern BlanstenGern Blansten Your Mom'sPosts: 6,533
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    mickeyrat said:
    CM189191 said:
    Stated differently: why is a tax payer punished for not having children?

    Still doesn't make sense to me. 
    stated differently, why is a parent punished financially for having children?
    They're not, how so? A family of 4 uses more public resources than a single person. Shouldn't that family also pay more taxes to pay for those services? 


    explain to me how it is as a nonparent you are being punished by families getting a tax credit?

    Why shouldn't I receive the same credit?  I would like to pay less taxes.  Why should it matter if I have children or not?


    how much of your salary or yearly wages goes to raising a child?
    none, that's the point


    oh, in 2014 the average cost per year to raise a child was 13,661 a year. for 18 years. 245,000 not including college.
    so what there warrants a tax credit? 


    even with that credit, you STILL do better overall financially than a parent. Even paying a potentially higher tax.

    you want an equal deduction? donate 13k a year.
    yes, this is a financial decision I made.  How does that explain or justify a tax credit?  Why shouldn't I be afforded the same tax credit?
    There are also tax credits for employing unemployed veterans....why don't I get that credit?

    Answer: Because I don't employ unemployed veterans
    Former BernieBro, turned Hillary rotten Clinton #1 Fanboy

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  • rgambs said:
    rgambs said:
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    But what about separation of church and state? Does it include Scientology? What about cults? Why not other charitable organizations like Harvard and Yale?
    Separation of church and state does not apply.
    All organizations should be taxed on any income which isn't used directly for charitable services.
    I'm just playing devil advocate, but what about the costs for maintaining workspace or for paying management.  Some may say this is not direct expense related to charitable services, others may say that the charity cannot survive without such expenses.  How about private foundations such as the John S and James L Knight Foundation that I hear on NPR all the time.  They have ordinary and necessary business expenses to maintain the Foundation.  All the money that comes in is used to maintain the Foundation - this includes investment management fees and legal fees.  The income used to cover those expenses should be taxed?  But they paid the money on those expenses.  Further, I mentioned the Harvards and Yales that have huge endowments that generate income that will (eventually) be spent on maintaining the universities and providing scholarships.  Are those related to charitable purposes?

    Herein lies a crux to the "simplification" of the Code - we need all the rules/regulations to get 330,000,000 people as close to uniform as possible.  A "simple" question like "what are charitable services?" can lead to many more words and rules.

    It'll be nice once we see both plans and can then stop speculating on what should/could change and we can start focusing on what is proposed to change.
  • Halifax2TheMaxHalifax2TheMax Posts: 9,554
    rgambs said:
    rgambs said:
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    But what about separation of church and state? Does it include Scientology? What about cults? Why not other charitable organizations like Harvard and Yale?
    Separation of church and state does not apply.
    All organizations should be taxed on any income which isn't used directly for charitable services.
    I'm just playing devil advocate, but what about the costs for maintaining workspace or for paying management.  Some may say this is not direct expense related to charitable services, others may say that the charity cannot survive without such expenses.  How about private foundations such as the John S and James L Knight Foundation that I hear on NPR all the time.  They have ordinary and necessary business expenses to maintain the Foundation.  All the money that comes in is used to maintain the Foundation - this includes investment management fees and legal fees.  The income used to cover those expenses should be taxed?  But they paid the money on those expenses.  Further, I mentioned the Harvards and Yales that have huge endowments that generate income that will (eventually) be spent on maintaining the universities and providing scholarships.  Are those related to charitable purposes?

    Herein lies a crux to the "simplification" of the Code - we need all the rules/regulations to get 330,000,000 people as close to uniform as possible.  A "simple" question like "what are charitable services?" can lead to many more words and rules.

    It'll be nice once we see both plans and can then stop speculating on what should/could change and we can start focusing on what is proposed to change.
    But Sarah Huckabee Sanders explained the proposal in a very down home, simple $100 bar tab parable. What about that didn’t you get?
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    "If you're looking down on someone, it better be to extend them a hand to lift them up."

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  • Halifax2TheMaxHalifax2TheMax Posts: 9,554

    rgambs said:
    rgambs said:
    The only real tax reform that's necessary is to tax churches, minus their charitable contributions.
    Boom, problem solved.

    But what about separation of church and state? Does it include Scientology? What about cults? Why not other charitable organizations like Harvard and Yale?
    Separation of church and state does not apply.
    All organizations should be taxed on any income which isn't used directly for charitable services.
    I'm just playing devil advocate, but what about the costs for maintaining workspace or for paying management.  Some may say this is not direct expense related to charitable services, others may say that the charity cannot survive without such expenses.  How about private foundations such as the John S and James L Knight Foundation that I hear on NPR all the time.  They have ordinary and necessary business expenses to maintain the Foundation.  All the money that comes in is used to maintain the Foundation - this includes investment management fees and legal fees.  The income used to cover those expenses should be taxed?  But they paid the money on those expenses.  Further, I mentioned the Harvards and Yales that have huge endowments that generate income that will (eventually) be spent on maintaining the universities and providing scholarships.  Are those related to charitable purposes?

    Herein lies a crux to the "simplification" of the Code - we need all the rules/regulations to get 330,000,000 people as close to uniform as possible.  A "simple" question like "what are charitable services?" can lead to many more words and rules.

    It'll be nice once we see both plans and can then stop speculating on what should/could change and we can start focusing on what is proposed to change.
    But Sarah Huckabee Sanders explained the proposal in a very down home, simple $100 bar tab parable. What about that didn’t you get?
    Seeing how tax reform is easy like health care reform is easy.
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  • gimmesometruth27gimmesometruth27 St. Fuckin LouisPosts: 15,954
    tax churches.

    they have been getting more and more vocal about supporting candidates from the pulpit. they aren't supposed to do that. if they want to be all uppity and do that, i say let them pay taxes and they can endorse whomever they want to. 

    you want the same rights as citizens, you pay your share. done.
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  • gimmesometruth27gimmesometruth27 St. Fuckin LouisPosts: 15,954
    The "Cut, Cut, Cut Act".

    and there you have it. what trump wants to call the tax reform bill.

    seriously, can this get any more kindergarten? jeesus christ...
    "There is nothing to writing. All you do is sit down at a typewriter and bleed."- Hemingway

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  • Halifax2TheMaxHalifax2TheMax Posts: 9,554
    The "Cut, Cut, Cut Act".

    and there you have it. what trump wants to call the tax reform bill.

    seriously, can this get any more kindergarten? jeesus christ...
    And Ryan is joined at his hip. As is McConnell and Cotton. 
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  • jeffbrjeffbr SeattlePosts: 5,557
    The "Cut, Cut, Cut Act".

    and there you have it. what trump wants to call the tax reform bill.

    seriously, can this get any more kindergarten? jeesus christ...
    And Ryan is joined at his hip. As is McConnell and Cotton. 
    Poor Ryan actually asked for Trump's help in naming the act because Trump is apparently great at branding and marketing. But even Ryan has been pushing back on this stupid name. And Cut, Cut, Cut seems only to apply to taxes for the wealthy. I thought there might be some Cut, Cut, Cutting of spending as well, since I thought the GOP was supposed to be the more fiscally responsible party. Nope. Cut revenue, increase spending, and dig, dig, dig a deeper hole.
    "I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
  • Looks like there's a tax increase on the (upper?) middle class - 35% bracket threshold DROPS from ~416,000 for married filing jointly to $260,000. 

    Looks like more folks are going to have passthrough income at 25%, amiright?
  • jeffbrjeffbr SeattlePosts: 5,557
    edited November 2
    They were going to fuck with 401Ks, but abandoned that. They are capping the mortgage interest deductions for loans of $500k or less. In my county the median home price is $565k, so this hurts the middle class. Trump won't have to pay AMT. Sales tax deductions go away. Electric vehicle tax credits go away. Increase taxes on wind and solar power.  Family tax credits expire in 5 years. Corporate tax cuts are permanent.

    I'm sure much of the bill was written to help Trump, but since he's hiding his returns we can't know exactly how it will impact his bottom line. I'm betting he comes out way ahead. I don't think any tax bill should be passed until SCROTUS releases his returns.
    Post edited by jeffbr on
    "I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
  • 20% excise tax on compensation greater than $1M paid by tax exempt organizations to their top 5 compensated employees. 

    College football programs like Notre Dame, Stanford, and USC are gonna get a lot worse before they get better.
  • Halifax2TheMaxHalifax2TheMax Posts: 9,554
    20% excise tax on compensation greater than $1M paid by tax exempt organizations to their top 5 compensated employees. 

    College football programs like Notre Dame, Stanford, and USC are gonna get a lot worse before they get better.
    All of this so the super uber rich can have more, more, more but I guess it'll save us the rebel yell. Waltons, Koch Brothers, Trump, Romney, et. al. all need more as they don't have enough already. Capping mortgage deductions for those mortgages below $500K? Shouldn't the cap be for above $500K? I wonder if Trump supporters are smart enough to determine that they're getting porked. We do need to get that 50% unemployment down to 1.5% though.
    09/15/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/29/08, 06/30/08, Mansfield, MA; 08/18/08, O2 London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL;

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  • 20% excise tax on compensation greater than $1M paid by tax exempt organizations to their top 5 compensated employees. 

    College football programs like Notre Dame, Stanford, and USC are gonna get a lot worse before they get better.
    All of this so the super uber rich can have more, more, more but I guess it'll save us the rebel yell. Waltons, Koch Brothers, Trump, Romney, et. al. all need more as they don't have enough already. Capping mortgage deductions for those mortgages below $500K? Shouldn't the cap be for above $500K? I wonder if Trump supporters are smart enough to determine that they're getting porked. We do need to get that 50% unemployment down to 1.5% though.
    The mortgage interest deduction is limited to interest paid on mortgages up to $500k, meaning if the super rich get a house for $2M - fully financed - they can only deduct interest paid on the first $500k. Also, the proposal only allows for the primary residence and not second homes.

    I think the real fight will come from SEC country and the provision that disallows a charitable deduction for the purchase of college football tickets.
  • mrussel1mrussel1 Posts: 7,762
    I crunched my numbers last night with my wife.  The changes will raise my taxable income by $35K (using 2016 numbers).  I've also sent a child to college this year, so losing the deduction for student loans will worsen my tax bill in future years.  Needless to say, I've already called my idiot congressman, Dave Brat.  
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