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Economics Discuss Tax Bill Calculator: Will Your Taxes Go Up or Down? at the Political Forums; I just came across this site that will tell you how your taxes will fare under the new plan. https://www.nytimes.com/interactive/...alculator.html ...

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Old 12-27-2017, 09:37 AM
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Default Tax Bill Calculator: Will Your Taxes Go Up or Down?

I just came across this site that will tell you how your taxes will fare under the new plan.

https://www.nytimes.com/interactive/...alculator.html

According to this I'll receive a $760 tax cut. The fake news in the MSM claims that this tax reform package is only lowering taxes for the wealthy and corporations, yet fails to mention that the wealthy in high-property tax states will pay more, and most people, who aren't wealthy, will see a decrease in taxes owed.

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Now, we’ve heard a lot of stories about how this is so great for the rich and this is true in some cases, but the really rich are capped with their property taxes of deducting only $10,000 (most of which have much higher mortgages, thereby paying far more than $10,000 each year in interest). So, for example, someone earning $1,000,000 in 2018 who is married with two kids, making $10,000 per year in tax-deductible tax deductions, paying $30,000 in property taxes and pays $25,000 in mortgage interest will have to still have to pay approximately $300,000 in federal income taxes. And it is worse for those high earners in states with high state income taxes like New York and California who are limited to a total of $10,000 of their state, local and property taxes.

But these numbers vary widely and are easily manipulated which is why it is best for everyone to use the tax calculator to see where they personally stand. While one politician will give you one scenario, another will give you a completely different picture based on slightly different factors. It is neither Armageddon nor is it something that is going to propel us to a 5 percent growth in the GDP. Many politicians tend to be drama queens and are on stage every day with their political theater. Suddenly some on Capitol Hill are talking about how concerned they are with the growing federal debt when they have been voting to increase the debt through dramatic spending programs for years. Apparently, they are betting on Americans either being stupid or having short memories.
https://palmbeachfreepress.com/2017/...as-others-say/
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Old 12-27-2017, 10:21 AM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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Originally Posted by Lumara View Post
I just came across this site that will tell you how your taxes will fare under the new plan.

https://www.nytimes.com/interactive/...alculator.html

According to this I'll receive a $760 tax cut. The fake news in the MSM claims that this tax reform package is only lowering taxes for the wealthy and corporations, yet fails to mention that the wealthy in high-property tax states will pay more, and most people, who aren't wealthy, will see a decrease in taxes owed.
According to this, I will also get a cut, though there are some special situations for me that may make the cut a little less then suggested.
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Old 12-27-2017, 11:48 AM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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According to this, I will also get a cut, though there are some special situations for me that may make the cut a little less then suggested.
Any cut is good! Next they need to reduce spending.
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Old 12-27-2017, 08:00 PM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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Any cut is good! Next they need to reduce spending.
I used to say that congress spent money like a drunken sailor.
I was wrong.
Drunken sailors stop spending money when they run out of money, congress runs out and keeps spending.
Our government needs to reduce spending or at the very least, stop increasing their spending.

The new tax bill does reduce my taxes. More money for me to save for retirement.
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Old 12-27-2017, 09:41 PM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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Originally Posted by Lumara View Post
Any cut is good! Next they need to reduce spending.
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Originally Posted by Bat View Post
I used to say that congress spent money like a drunken sailor.
I was wrong.
Drunken sailors stop spending money when they run out of money, congress runs out and keeps spending.
Our government needs to reduce spending or at the very least, stop increasing their spending.

The new tax bill does reduce my taxes. More money for me to save for retirement.
but dont take it from big oil subsidies and rich people
take it from the elderly, disabled and children
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Old 12-27-2017, 10:09 PM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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but dont take it from big oil subsidies and rich people
take it from the elderly, disabled and children
Do you think the elderly, disabled and children have monies that can be taken from them?
And how is allowing me to keep money that I earned taking anything from anybody? It's actually quite the opposite of taking.
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Old 01-01-2018, 08:00 AM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

for later
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Old 01-01-2018, 03:53 PM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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Do you think the elderly, disabled and children have monies that can be taken from them?
And how is allowing me to keep money that I earned taking anything from anybody? It's actually quite the opposite of taking.
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Old 01-03-2018, 01:50 AM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

even reagan's man saw the truth

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Old 01-03-2018, 11:28 AM
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Default Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

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Originally Posted by saltwn View Post
but dont take it from big oil subsidies and rich people
take it from the elderly, disabled and children
Sorry to break it to you salty, but I'm certainly not rich, I have a child and a disabled wife and I'll be getting a tax cut.
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