On this day when the architect of the republicunt tax plan packs it in let's see how happy the Quiverfull shits will be about this.

https://www.bustle.com/p/does-the-tax-bi...st-7651167

Quote:Does The Tax Bill Eliminate The Personal Exemption? The Change Will Hit Families Most

Quote:However, larger families will receive a smaller deduction going forward than they have in the past. In 2017, a family of four making less than $314,000 a year got $16,200 in personal exemptions, combined with the $13,000 standard deduction on joint returns. That makes for a total of $29,000 deducted from that family's taxable income. With the elimination of the personal exemption and the increase in the standard deduction, that same family would only get a $24,000 break in 2018. That's a difference of $5,000, and the gap will only widen for families larger than four people.

Congratulations Trumptards....you've been fucked again.  And all so corporate pricks can get even richer.

(April 11, 2018 at 1:48 pm)Minimalist Wrote:

Quote:However, larger families will receive a smaller deduction going forward than they have in the past. In 2017, a family of four making less than $314,000 a year got $16,200 in personal exemptions, combined with the $13,000 standard deduction on joint returns. That makes for a total of $29,000 deducted from that family's taxable income. With the elimination of the personal exemption and the increase in the standard deduction, that same family would only get a $24,000 break in 2018. That's a difference of $5,000, and the gap will only widen for families larger than four people.

Yeah, except that family will pay significantly less tax due to the changes in the child tax credit.

Families with a smaller carbon footprint are a good thing. I'm assuming had that occurred to the 'pubs they would have sunk the bill.

(April 11, 2018 at 2:08 pm)alpha male Wrote: Yeah, except that family will pay significantly less tax due to the changes in the child tax credit.  

Except all they did was double the credit... and credits are trickier... while slashing the deductions and it expires in 2025 anyway...along with the rest of the non-corporate giveaways to rich fucks.  Oh, they also extended the income phase out to $400,000 to help the rich.

That's okay, though.  They've given the dems a clear shot at repealing the corporate tax scams without having to cut down the personal changes. 

I understand that you don't give a flying fuck about trillion dollar deficits....unless a democrat is in the WH... but there are sane people out there and I think they still outnumber you jackoffs.

You understand very little about taxes, or about me.

I'd vote for higher taxes on the very wealthy if I could. Fact is that the dems are very wealthy themselves and have no interest in raising their own taxes.

So, we have dems who don't really want to raise taxes, and repubs who don't really want to shrink government.

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Why are you opposed to setting our corporate tax rates in line with the rest of the world?

(April 11, 2018 at 2:49 pm)alpha male Wrote: You understand very little about taxes, or about me.

I'd vote for higher taxes on the very wealthy if I could. Fact is that the dems are very wealthy themselves and have no interest in raising their own taxes.

So, we have dems who don't really want to raise taxes, and repubs who don't really want to shrink government.

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Why are you opposed to setting our corporate tax rates in line with the rest of the world?

I agree that more than half the elected Democrats are neoliberal hacks, but to act like they're basically the same on the issue is incredibly disingenuous. Obviously the Democratic platform would involve a tax increase on the wealthiest Americans. Supply-side economics is a conservative talking point, the left knows it doesn't work.

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I'm not Min, obviously, but I still want to answer. I actually do support a sweeping decrease in corporate taxes across the board, but only when the American people get the benefits they deserve. Are you opposed to a welfare state that is in line with the rest of the world?

Can you imagine finding credits 'tricky.' Yikes.

Tax cuts are a cheap gimmick that has no real effect on anything long term . Real economic reform is needed . 

And yes the tax cut is just bread a circus .

Boru

A guy on Facebook was complaining that European tax rates were 60% and “imagine having an extra 30% taken from each paycheck”. Had to explain to him that that’s not how taxes work. Marginal tax rates and effective tax rates are completely different.