Agreed. I just meant that it’s ironic, imo, because many of the founders found a BOR necessary because they didn’t trust the federal government to act as that hedge againt himan nature.
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I think you are painting with too broad a brush for me to follow.
The tax cuts are a lousy idea. Things always workout better for everyone when the government takes more of our money. They are more efficient at spending it. They have little to no waste and um…they are just a bunch of swell people who know better what to do with our money than we do. I am actually a bit irritated that I only pay over 50% of every dollar I make to the federal state and local tax man. I was hoping that they would raise my taxes even further, maybe the total could actually exceed 65% to 75%. This new tax bill is going to reduce my company taxes by a gigantic margin. I hate that…I really hate that.
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In before someone tells Zeb the media finally took over the govt after overpowering the R controlling all 3 parties and tax breaks are being stopped.
Let him down slowly guys
LOL…we know what the media does don’t we? They have the power of influence. Then again that has been greatly diminished due to the constant lying they’ve been doing. The new term “fake news” pretty much says it all.
Right. Probably has nothing to do with the opposing party getting control of all 3 branches of fed govt and most of the countries governorships.
Damn media and their fakenews assault on the TRUTH!
Seriously?
Isn’t the media supposed to be unbiased? The fact that the republicans crushed the democrats all over the country, including Washington, should have nothing to do with the way the news is reported. But…it does.
Says who? The media is a group of businesses. Living in the 90s when that style of media has been dead for a decade isn’t going to make it come back.
Of course it does. It sells. Capitalism at its finest.
Hey Bub no time for posting. I have to figure out what to do with all of the money the Trump tax cuts are going to give me.
Bye. and don’t forget to remember me when the republicans pick up more seats in both houses. And Trump is reelected by more than he won by the first time.
C Ya
You’ll have to forgive Zeb; he’s a little giddy. As a JOB CREATOR™, he’ll now be able to hire loads of people with his newly found tax savings which will, in turn, drive demand for his product. Everything’s coming up roses, I’d say.
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Well shit. I’d hope if he wins POTUS again he wins it by more than last time… considering he couldn’t get more votes than HRC for god’s sake
But is he giving his employees one time bonuses to bribe Trump into signing the bill before Xmas??? IS HEEEEE?!
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Hate to interrupt the arguing with discussion on the tax reform.
The most surprising thing is they changed the US to a territorial tax system (rather than global). This is the way the rest of the world does it. That’s huge. That goes well beyond a simple repatriation holiday.
So with that change and making the top corporate rate 21% (matching the world average). This is a leveling the playing field type of bill for business.
For individuals the doubling of the standard deductions and child tax credits, not to mention they put a cap on rather than disallowed deducting state taxes to $10k. This is aimed squarely at reducing the tax burden and filing hassle of deplorables (lower and lower-middle income).
They removed the unconstitutional penalty from O’Care. People are already gnashing their teeth ‘13 million will lose healthcare!’. No. 13 million will stop buying a product that they didn’t want in the first place.
Now that it finally passed. For you as a real estate investor this is good. Unless you have mortgage interest over $750k (they dropped the limit from $1M to $750k). You can avoid capital gains on selling a primary residence that you live in for 2 years (live in flips anyone?). Pass through entities (S-corp, LLC, Partnership) all got breaks to avoid double taxation.
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No, actually I am giving all of my employee’s a raise. They will not only receive the Trump tax cut but will also benefit from their company getting a tax cut. They will now have more money in their pockets. They then will have much more money to spend, or save. It will be their decision to do what they like with their own money. What a novel idea huh?
In addition to that I am going to expand my business because of the Trump tax cut. And that means I am going to hire even more people.
I really don’t understand how any of this is bad for the country. I think everyone benefits as the economy grows and more people are working.
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Dead serious here. Kudos to you. If all business owners were more like you, I’d be much much more in favor of tax cuts.
Because sadly, not every business owner is like you.
100% serious though, you’re doing very good work if you’re taking care of your employees with this tax cut. Keep kickin ass man.
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Remember, remember, remember - the reason Trump won was because the regular people were sick and tired of the rich, well-connected, and powerful getting their puppets in DC to deliver up more benefits for themselves, while the needs of the long-suffering regular people went ignored by the elites.
Set that frame in your mind. And, now, here is your “populist” tax reform:
- The corporate rate reduction is permanent, for individuals only temporary. Completely obnoxious. In effect the money “saved” within the 10 year budget window by making those individual cuts temporary helped to underwrite the cost of making the corporate/pass though side permanent
(2) Carried interest provision. When Trump was careening around in his populist candidate mode, he promised to end it. Here is one campaign promise that he “somehow” failed to redeem when the clear and available chance presented itself.
(3) Restriction on state and C local tax deduction — consciously vindictive imposition of double taxation on citizens of certain Democratic states; corporations and pass through businesses, the darlings of the Republicans, still get to deduct those very same taxes in full.
(4) Expanding the standard deduction but financing the cost of so doing by repealing the personal exemptions is a bit of a bait and switch maneuver. Some people might be worse off.
(5) In a bill in which 100s of billions of dollars were sloshing around to provide steep tax cuts for already wealthy and highly prosperous corporations and pass through businesses, the Republicans could only find the will to raise the refundable portion of the child care tax credit from $1000 to $1400. Rubio wanted it to be raised to $2000 and his Republican brethren refused to even meet him halfway. Pitiful.
(6) Deduction for extraordinary medical expenses — retention of this deduction did not even get the five-year sunset window applied to all the other individual tax provisions, two years only. Vicious.
(7) Pass through business taxation — the bill is a massive tax gift to some of the wealthiest people in the country, who are conducting business operations in non-corporate form or are investors in same.
Number 3, in particular. The GOP decides to repeal the state and local deductions for living, breathing individuals - especially painful in Blue States - but corporations will still enjoy the deduction.
All this, and what little pays for the cuts in offsets is extracted from the non-wealthy.
Golf clap, “populists”. Thank goodness we no longer let the rich, well-connected, and powerful elites no longer get DC to do its bidding at the expense of the regular guy!
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Dude! You want to start a welding/fabrication division?
No joke, you really do sound like and exceptional employer/guy.
My wife is an overseas employee for a major US drug company.
Their internal memo today flatly stated that “due to current changes in the business environment” they’ll be having a massive recruitment drive to fill a large number of new positions - all outside of the US at the expense of staff working in the States.
I supposed it’s related to the tax bill.
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I wonder which provision Pharma was demanding go into the tax bill they didn’t get?
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Tax cuts always trickle down that’s why Kansas saw an explosion of higher wages and economic growth during the Brownback era.
Er, the explosion was the roads, education, health systems and everything else being crazily underfunded so Bill Self who had zero chance of employing lots of people didn’t need to pay taxes anymore.
I will hope this time is different nationally but the idea that corporations are all going to funnel this down simply isn’t based on recent history.
In B4 do you know what that multi millionaire pays in taxes?! Woe is him. Now he can finally afford to raise wages!
Meanwhile the President pushes a tax cut all while not showing his tax returns. If this was Obama the shrill screams and exploding heads of conservatives would be amazing.
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