Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

[Rover]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I’m withholding judgment until I know for sure, but at a quick glance (if I’m understanding the new law correctly), I’m pretty sure I’m paying more taxes this year. Getting rid of the personal exemption is a killer for a family of 4.

*******s in Congress.

Keep an eye on the lower rate (roughly down 3% for most people) as well as the doubling of the kiddie tax credit. I too will end up making money on this scheme.

[LynahFan]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

My son missed the 2017 kiddie credit by 6 days, but on the plus side, my company just started offering 2 weeks of parental leave to babies born after Jan 1, so I count that as a win.

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

A little disappointed the residential energy credits expired at the end of 2016, but it happens.

[GrinCDXX]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

A little disappointed the residential energy credits expired at the end of 2016, but it happens.

Same with the PMI deduction. I lost big on that this year as we bought a new house and prepaid the PMI. These should serve as notice that when Republican's defend the temporary tax cuts for individuals by saying "of course we'll make them permanent eventually", they are lying.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Same with the PMI deduction. I lost big on that this year as we bought a new house and prepaid the PMI.

I thought the law change was next year? Why is it affecting taxes for 2017?

[GrinCDXX]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I thought the law change was next year? Why is it affecting taxes for 2017?

That particular deduction was implemented as a temporary measure in 2006, I think. I believe it was extended one or more times, but was allowed to expire for 2017. It was related to the previous unfunded abomination, not the current one.

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Same with the PMI deduction. I lost big on that this year as we bought a new house and prepaid the PMI. These should serve as notice that when Republican's defend the temporary tax cuts for individuals by saying "of course we'll make them permanent eventually", they are lying.

I went cash, so didn't have to worry about that.

I do think that the "temporary cut", as much as it is designed to be either a trial or to get over an economic hump (read: housing bubble), it seems to be used more and more as a political weapon. It happened with the Growth Act of 2003 ("Bush tax cuts" as some would put it), and is the same thing as the "temporary" portions of the 2017 act. The Democrats, despite having complete control in 2009-10, couldn't let the 2003 act expire because it would have been seen as political suicide. I expect the same thing to happen when the 2017 cuts are up for renewal.

[GrinCDXX]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I went cash, so didn't have to worry about that.

I do think that the "temporary cut", as much as it is designed to be either a trial or to get over an economic hump (read: housing bubble), it seems to be used more and more as a political weapon. It happened with the Growth Act of 2003 ("Bush tax cuts" as some would put it), and is the same thing as the "temporary" portions of the 2017 act. The Democrats, despite having complete control in 2009-10, couldn't let the 2003 act expire because it would have been seen as political suicide. I expect the same thing to happen when the 2017 cuts are up for renewal.

And if it had been the democrats in control in 2016 when some of the existing temporary cuts where allowed to expire, the right wing would have screamed at the top of their lungs that the Democrats had just raised taxes. But, funny, we didn't hear a peep.

[ericredaxe]

I thought the law change was next year? Why is it affecting taxes for 2017?

What I meant is that I’m pretty sure I’ll be paying more in 2018 under the new law than I did under the old law.

*******s in Congress.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

There is no hope until Trump is out of office. None.

From Elizabeth Warren's Facebook.

After taxpayers bailed out the big banks in 2008, Congress put them on a watch list to make sure they wouldn’t wreck the economy again. Fast forward to 2018, and those same banks are rolling in money and profiting off the latest GOP tax bill. But Treasury Secretary Mnuchin still thinks they need a helping hand. He wants to roll back the rules on 30 of the biggest banks in the country – because he thinks they don’t pose a risk to the economy. I asked him why – and he couldn’t give me a straight answer.

[mookie1995]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

There is no hope until Trump is out of office. None.

From Elizabeth Warren's Facebook.

Phil A Buster

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

And if it had been the democrats in control in 2016 when some of the existing temporary cuts where allowed to expire, the right wing would have screamed at the top of their lungs that the Democrats had just raised taxes. But, funny, we didn't hear a peep.

Then why didn't you do the same? Or do the only jeers you know end with -ist?

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

There is no hope until Trump is out of office. None.

From Elizabeth Warren's Facebook.

That's not a Democrat vs. Republican thing. The Fed is one of the biggest cancers in this country, and I think we can both agree that they need to be audited and held accountable. Rand Paul, surprisingly, is one of your friends on this one.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

That's not a Democrat vs. Republican thing. The Fed is one of the biggest cancers in this country, and I think we can both agree that they need to be audited and held accountable. Rand Paul, surprisingly, is one of your friends on this one.

This is where you're wrong. The entire Republican Party is out to lunch on this issue. Rand Paul may be an outlier but he's the only one in that party that doesn't believe in giving Banks full control to destroy the economy again.

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

That's not a Democrat vs. Republican thing. The Fed is one of the biggest cancers in this country, and I think we can both agree that they need to be audited and held accountable. Rand Paul, surprisingly, is one of your friends on this one.

You do know the Fed is really just the largest banks, right? Jekyll Island and all that?



But yes, this is one of those moments when you and I and Rover and joe are all on one side and I honestly can't imagine who is on the other side unless it's just Goldman and their paid stooges in Congress.

If Dump was actually his own man instead of a drooling mentally deficient fraud wiping his adult diaper on the Constitution, he'd make the Fed completely transparent and end the conspiracy one way (exposure) or the other (proof that it is just the benign accountancy service we were all taught about in Civics).