DawgTalkers.net Forums DawgTalk Palus Politicus House GOP tax overhaul keeps retirement rules

Night, night, sleep tight, *Kisses Portland on the forehead*

I’m back!! Did I miss anything?
Thanks for the forehead kiss GM. Just like my daddy use to do.

sounds like you need to elect new Republicans then, huh. If you taxes are too high and going up, elect new politicians. Thank you for making my point.

If you're income is deemed labor income then you get no pass through provision. Small Businesses tend to be labor income heavy more than business income heavy. I'm almost certain that as a software engineer that I would end up falling into the 'labor income' bucket even though I have an LLC.

Source: http://www.businessinsider.com/gop-tax-plan-biggest-problem-small-business-details-2017-11

Well the GOP will only place the incumbents on the ticket. Why are you telling me to vote Democrat? Also this tax plan is at the federal level. I have no control over republicans elected in other states.

Tell me why I should support the GOP for raising my taxes.

That is why you need to stand up against the establishment types.

This is screwed up. Send it back.

it will get changed in the house and senate. this is just a start.

This plan isn’t getting passed.

Try again next year

eh, we will see. might not, might so. but the point is that is why we have a system that we do. if it passes the congress the senate can make adjustments and go from there. point being, this is not what it will look like when the time comes. people forget that.

Which in the big picture makes everything look worse.

“Hey, lets pass a plan that’s not gonna look remotely the same when we send it to the senate.”

How about everybody gets on the same page in Congress as a whole (GOP) and pass what needs to be passed.

Stop passing crap, gutting it at the next level, then rewrite it just to pass something different. It’s beyond inefficient, especially now that we are dealing with a “pro business” party that had complete control of everything.

No leadership. No direction.

The biggest winner of this tax bill would be Wells Fargo. You know, those upstanding guys that started fake credit card accounts and such.

"Corporate America may be about to get a whole lot richer, as a proposed 15% cut to the corporate tax rate would boost earnings. While the overhaul to the tax code would benefit corporations across America, big U.S. banks like Wells Fargo & Co. Wells Fargo & Co would likely see the biggest gains. Yes that’s right, bigger than even the U.S.’s largest publicly traded company, Apple Inc."

http://www.investopedia.com/news/wells-fargo-tops-apple-tax-plans-biggest-winner/

Do you have any details to offer aside from talking points? I'm genuinely unsure what recourse one has if my reps are all republican that involves republicans staying in power. If the local GOP will only fund the incumbents that will agree to dodo tax plans like this one, the only recourse I can see is to vote against my interests fiscally and vote democrat. Then the GOP will be forced to find someone else to run in the districts I live in. Is this your suggestion?

Bills age like vinegar, not wine. Because the GOP started off with such a small tax cut annually to begin with (I don't consider 4k a year to be a win, sorry) there is very little wiggle room once the senate negotations begin. Anyone thinking this bill will magically get "better" is being naive.

get a clip board, get some signatures, and run for office would be a start.

Well, that's good. Glad that under this bill, I would definitely be paying more taxes. Good thing Wells Fargo would gain.

It's funny because I was positive this would be your next response. The GOP wouldn't fund me against an incumbent and the chances of winning an election as an independent in a highly republican district is virtually zero. Even if I *DID* win it would do exactly NOTHING to change federal tax laws, while assuredly gutting my existing income due to my career change from software engineer to local assemblyman.

I had my fun getting you to your absurd conclusion that I should run for office, but truly you aren't this ignorant? Just admit that the GOP put forward a garbage plan. Even the NFIB won't support it.

Cant say its garbage to me. My taxes would go down. so no, I wont say that. Its also a far cry as to what it would be once it moves forward.

I for one will be calling my congress and senator asking them to pass the bill. Thank you.

That's fine that it benefits you. I don't think that's a problem. I just think the GOP lied when they claimed they would help small business with this tax reform, and the small business lobby agrees with my assessment. It doesn't sit well with me when elected officials run on a platform of cutting taxes and helping small businesses, and then go back on that promise less than a year into office. If you are OK with the "Do as I say, not as I do" of the GOP then that's your prerogative.

The best tax breaks go to the wealthy and big corps, the true small business owner and middle class worker is hosed. Typical GOP.

Thanks gage - I'm a software developer as well so I'd fall into the same boat as you. If the 25% business tax rate isn't there for me this isn't going to affect me much either way as far as I can tell. I don't have city tax as I'm in a township, nor do I pay state tax (you shouldn't either since you're in Ohio). Doesn't look like my SEP will be effected either. I don't have a lot of medical bills, my write-offs are pretty much a new computer every year and mileage/travel expenses.

How do you not pay state tax?

And, maybe it's different for you.........but you don't have to pay income tax in each state/city you work in?

I guess, perhaps, you can claim your work is done at your office.......but still, you don't pay state income tax?

You shouldn't be either arch, it's been that way for about 3 or 4 years. I'm assuming you are an LLC?

From the link below:
Ohio Corporate Income Tax Comparison
A home business grossing $55,000 a year pays $0.00
A small business earning $500,000 a year pays $0.00
A corporation earning $10,000,000 a year pays $0.00

http://www.tax-rates.org/ohio/corporate-income-tax

Eh, I got confused. I - my LLC, doesn't pay state tax, but my wife does. That's why I asked.

Most middle class families that earn roughly between 100K and 250k will see their taxes increased by nearly 10%, to pay the superwealthy 10's of billions of $$$ for their long awaited relief they've desperately needed for so long. Pfft

Yea, like Arch I was thinking state income for the misses as well I just think it's another lie by the Republicans in that they promised tax relief for SBOs and now that we have their "amazing tax plan" we might actually end up paying a little more. A huge swing in the wrong direction. This bill hurts small business, and hurts the country by increasing the federal deficit at a time we should be working to shrink it. The GOP must really think none of their constituents care. Maybe they are right...

J/C

Taxes are the revenue for the government. So why do they need "paid for"? I never understood this. "paying for tax cuts" is the biggest farce out there. The only way you "pay for tax cuts" is if you do not adjust spending on those cuts. That's the issue. Tax cuts should have not effect of the budget as they create the budget! Is it just me or that lunacy?

I think that's the crux of the backlash with this plan. The proposed plan includes tax cuts, but not nearly enough revenue reductions to balance the lack of capital being generated.

House Republican: my donors told me to pass the tax bill “or don’t ever call me again”

https://www.vox.com/policy-and-politics/...s-chris-collins

conservatives, thoughts?

Two ways to look at this:

1-Do what I say because I have you in my pocket to do my bidding.

2-Why am I supporting you if you're not going to do what you said you would do?

pretty much.

i just don't understand the whole trickle down theory when it comes to corporations.

how have they convinced people they need a tax cut?

i mean, if massive tax cuts worked, why haven't major corporations flocked to Kansas?

You can't lead effectively when money is controlling politics. We have to get the money out of politics, period. This guy is more or less at the mercy of rich donors, so he will fall in line and do his masters bidding. The middle class is going to take a big hit here I think and it will probably trigger another recession.

Good Lord, that's awful. Just awful.

To be fair, I'm not sure what his exact words since it appears to be paraphrased in that tweet. Now, if he did say something along that line, then that's just awful.

Even if he didn't say it though, it's not just a Conservative thing, since both parties are controlled as such. I do think that the greedier hands are on the Republican side right now - or at least it shows more - since they are the majority.

Sounds like most of us should just eat cake for Thanksgiving.

Edit: Changed conservative to Conservative. To me, there's a big difference.

You act like that doesn't happen to every politician. Did you see the wiki leak emails about the guys from I believe it was either chase or citi bank emailing about the exact same thing, wanting positions etc. Come on glass house.

BUT will it ever change?

here we go with the "every politician"

you're inability to actually answer the question and stick to the topic is truly amazing.

i asked you for thoughts on this specific instance, and yet you woke up in the morning deciding to be difficult.

My thoughts are just what I typed. I am not surprised, that is what we on the right refer to as the SWAMP. Its not that hard. You posted it to get some type of reaction or confirmation about yourself.

The fact is that every politician is paid for. That is one of the many reasons trump won the election. They all need to go. Anyone that is bound to donors over the actual will of people is a SWAMP creature, and will be getting ousted. You post vague responses with hidden intentions, and then when you get called out on that intention, you say "ohhhh that's not what I meant". lol.

The SWAMP creatures are not beholden to a particular party. Any dirty politician that votes strictly for their own well being needs canned.

OCD, regardless of your thoughts on Trump, that shows it can. A big reason he was elected was that he was not part of the Swamp and was an outsider. You can disagree with that assessment of him, but it is a reason why people voted for him. So yes, I think it can change. There are guys now in office, that I do not agree with but I believe they are above it. I completely disagree with EVERYTHING Bernie ran for and on, but honestly believe he was not part of it. And you saw how they destroyed him.

I'd even back Trump if he tried to get citizens united overturned and legislated money out of politics... but it will never happen on Trump's or any other republicans watch because they are all about the money.

So Senate Republicans release their plan tomorrow. How much worse will it be?