Thread: Senate Democrats falsely claim GOP tax plan will raise taxes for most working-class f

How would there be an increase with ZERO tax on the first $25,000 of income

Then DOUBLE the deduction to $24,000 for married and $12,000 for single

Then lower the tax bracket on top of that?

No wonder Democrat run cities and States are bankrupt and in disrepair, crime and poverty with no jobs.

Originally Posted by Beezer

How would there be an increase with ZERO tax on the first $25,000 of income

Then DOUBLE the deduction to $24,000 for married and $12,000 for single

Then lower the tax bracket on top of that?

Exactly. No one earning below $500,000 a year is going to see a tax increase unless they're in some funny little weird pocket of loophole scenarios and who cares about them? It's time they paid their "fair share".

Other ramifications are too complicated to discuss, but for example, by limiting the amount of property tax deductions to $10,000 a year will put pressure on local taxing agencies to stop taxing homes to fund education for illegal aliens in these high tax states like California and New York. This is a good thing!

Limiting the mortgage interest deduction to mortgages of $500,000 or less, means that homes worth $600,000 assuming a 20% down payment will not qualify for the interest deduction and will put some pressure on both interest rates and home prices to make homes and mortgages more affordable in expensive real estate areas. It will also encourage home builders to design and build smaller, less expensive, more efficient housing in these areas. These are all good things!!

The goal of this whole plan isn't really paying less taxes, the end game is to bring our industries and companies back home, encourage them to relocate back to the states and expand in the states and make it easier for small and pass through businesses here to expand their operations to create employment, good employment, to raise wages and benefits to reduce poverty, unemployment, underemployment and welfare spending. This is the right formula to achieve this larger goal. Are the details all set in stone? No, not yet, but that will be worked out in the House, then the Senate, then in Reconciliation. Disregard all the DemoQuack talk about deficits, because there won't be any related to this plan in a couple of years. Sure, there will be a drop in the first 2 years because that's how long it takes to bring a company back to the states or expand a company already here. There is a lead time of at least 2 years before the benefits of the policy can show financial effects, because of the lead-time required in site selection, design and construction, opening and training a new operation, normal time is from 3 to 5 years, so even if some take 5 years, as soon as the plan is law, they'll be zooming to achieve this as quickly as possible. I wish the corporate and pass-through rates were 15% like Trump asked for, but 20 and 25 will at least kick-start some of it and we'll all benefit, everyone will benefit from more jobs, higher incomes, greater personal deduction, less spending on welfare, lower deficits, less debt.

And soon, perhaps even during Trump's first term, depending on how the 2018 elections go, this group of Republicans will move to pass the FairTax or something very similar to repeal the evil income tax and abolish the IRS.

Even if the Property Tax is lowered to deduct it...they are STILL getting the Double Standard Deduction to make up for it!

Why should they get the Double and Full Property Tax Deduction? Whole point is to simplify, pay fair share, no loop holes.

Many people have no deductions.

Originally Posted by Beezer

Even if the Property Tax is lowered to deduct it...they are STILL getting the Double Standard Deduction to make up for it!

Why should they get the Double and Full Property Tax Deduction? Whole point is to simplify, pay fair share, no loop holes.

Many people have no deductions.

Exactly. You get it, Beezer!! Spread the word!!!

Hard to talk to a bunch of "rocks" on FB. People really have NO clue.

And for businesses to deduct the full depreciation on equipment in the 1st year is BIGLY for business expansion and jobs

Let the rich people keep some of their money...where the hell to people think all the charity money comes from? Business investment, entrepreneurs...buying high dollar equipment and spending money in our economy. Demoquacks have mush for brains.

Exactly!! There would be no Shriner's Hospital or St. Jude's Children's Hospital without rich people. There would be no jobs or good companies without rich people. But they should have to pay their "fair share" as long as we have an evil despicable income tax.

I wonder if Farmers will be buying more equipment to automate their farming...less need for ILLEGALS and their work visas.

Another reason to END DACA...no amnesty to 12 million people with no skills.

Add the 40 BILLION they send out of the country and put our people to work...keeping our money on our soil and back into our economy.

Mexico and Central America had better get their game plan on...your DACA people are coming home to roost and you had better use this opportunity to put them to work and improve your own economy!

So round up your cartels, your gangs and do what you will with them...the Gravy Train is OVER