Originally posted by unclefish
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The Tax Reform Bill..........
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I've already added 1 employee specifically because of the tax rollback. The new employee will start January 3, '18... Got at least one more in the budget for fiscal '18... Without this plan, that absolutely would not happen... I'm a small company, but I'm no different in structure from any other Sub: C corp... The numbers flat out are better for corporations of all sizes that do domestic business... Assuming their markets have the revenue potential to support the growth, This bill absolutely will grow businesses IN the USA.. It may ALSO grow the international portions of many corporations, but with the reduced tax rates, those corporations who have HQ's in the US will be able to bring that capital home and put it back to work...
ANYTHING the Repulsicans come up with is orders of magnitude ahead of the DemoKrauts... Heck, they want to take more from a shrinking base and ultimately will collapse upon itself when they run out of other people's money and credit fails so they can't just print more money... How ANYONE can support the DemoKraut economic philosophy is beyond me... well unless you're on the receiving end of their gimmies... Why the hell do you think they want to get all these illegal immigrants here the amnesty plan... Instant voters... If they'd stayed in power for two Hitlery terms, there'd have been nothing left to salvage... We aren't out of the woods by any means now either. If they (the whole dang gubment) don't reign in entitlements, we still won't survive... My fear is that we've gone too far down that road to turn back...
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Originally posted by JonBoy View PostYou're exactly right...but they won't necessarily buy and invest here. Why hire production labor at $30/hr when you can get the same labor at 1/10th the cost overseas (or better yet replace that labor altogether with automation)? Same goes for equipment & production/factory real estate. I'm not saying businesses won't invest but just because their taxes are cheaper doesn't mean they're going to take that money and pour it back into the U.S. economy. They will reinvest in whatever maximizes their revenue and profit margins...and many times that doesn't mean buying American.
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The above calculator shows I'll keep ~7k with the new plan.
(I'm not banking on it, but it would be nice no doubt. )
I started stabbing in random elevated numbers into the calculator and never saw where the savings wasn't on the positive side.
It might be there, but I didn't see it.Last edited by DaveC; 12-20-2017, 09:42 PM.
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Originally posted by westtexducks View PostSo your saying you would rather see the status quo and continue to pay higher taxes just to stick it to the corporations because you would rather assume they will not spend money here? Trickle down economics works if we let, and we haven't attempted to let it work in years. We have had so many corporations leave in the last 20 years solely due to our ridiculously high corporate taxes it is crazy not to think that this wont help retain the ones that left and potentially bring some of them back. Look at Burger King for example.
Great reading for you and it is even from the Communist News Network which tells you something when they are even willing to admit our tax rate chases away business.
http://money.cnn.com/2014/08/27/news...xes/index.htmlOriginally posted by Ironman View PostOk. So what is your solution?
There are a few "sacred cows" that members of Congress have learned not to touch if they want to have a prayer of becoming re-elected...defense spending (personnel and equipment), medicare/medicaid, other entitlement programs, and the existence/size/scope of every 3-letter agency under the federal umbrella. We need to face the hard reality that there will be an uptick in unemployment if we want to reduce the size of Government and there are a lot of people who are going to lose their jobs and lose federal income...and yes, that includes me! What I do know is that we can't continue to lower taxes on a hope and prayer that businesses will do the right things and grow our economy to make up for the shortfall in taxes...because it's a huge gamble and if it doesn't pay off we're just further increasing the deficit burden left for younger generations to deal with (like myself).Last edited by JonBoy; 12-21-2017, 07:24 AM.
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Originally posted by unclefish View PostOriginally posted by westtexducks View PostAnd just like that trickle down economics at its finest.Last edited by JonBoy; 12-21-2017, 07:55 AM.
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There's no doubt that spending cuts should happen. One of the worst things that has happened in recent years is The Patriot Act. What is the budget for DHS and the other 3 letter agencies that came into play, because of it? Not to mention the loss of liberties due to that one law. This was all done by a Republican President too. Starting with Bush #1, this country has been in a tailspin.
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Originally posted by Ironman View PostThere's no doubt that spending cuts should happen. One of the worst things that has happened in recent years is The Patriot Act. What is the budget for DHS and the other 3 letter agencies that came into play, because of it? Not to mention the loss of liberties due to that one law. This was all done by a Republican President too. Starting with Bush #1, this country has been in a tailspin.
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Originally posted by DaveC View PostThe above calculator shows I'll keep ~7k with the new plan.
(I'm not banking on it, but it would be nice no doubt. )
I started stabbing in random elevated numbers into the calculator and never saw where the savings wasn't on the positive side.
It might be there, but I didn't see it.
Youre taxed per bracket. So lets say you make 150k a year. Youre taxed 15% on the first 50k, 23% on the next 50k and 25% on the last 50k. Its not one rate across the board. Thats where the liberals are having a fit saying the wealthy are still saving money. Of course they are, thats the way its always worked. Its rediculous they are trying to spin this negatively.
Its a win for everyone. They need to get over it.
(All numbers where fictional and for demonstration only)
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Originally posted by Black Ice View PostWhen they say save will this be more money in my check each week or will I not have to write a check anymore?
Also when does this take place?
Sent from my iPhone using TapatalkLast edited by JonBoy; 12-21-2017, 08:40 AM.
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Originally posted by JonBoy View PostI'm saying I'd rather see the Republican party grow some stones and return to it's fiscal conservative-ness of old...you know, low tax AND low spend. A big problem is the Federal Government has gotten so bloated and such a large percentage of Americans' jobs & income are either directly (military, civil servants, entitlement programs [admins and recipients], etc.) or indirectly (federal contractors, regulators, etc.) tied to Government spending that as soon as a member of Congress starts talking about cutting services & spending everyone goes into job preservation mode, starts pointing fingers at everyone else and that Congress-person is hung out to dry. This is why the Republican party has dropped the low spend part of their platform and adopted the mantra of supply-side economics & trickle down theory.
There are a few "sacred cows" that members of Congress have learned not to touch if they want to have a prayer of becoming re-elected...defense spending (personnel and equipment), medicare/medicaid, other entitlement programs, and the existence/size/scope of every 3-letter agency under the federal umbrella. We need to face the hard reality that there will be an uptick in unemployment if we want to reduce the size of Government and there are a lot of people who are going to lose their jobs and lose federal income...and yes, that includes me! What I do know is that we can't continue to lower taxes on a hope and prayer that businesses will do the right things and grow our economy to make up for the shortfall in taxes...because it's a huge gamble and if it doesn't pay off we're just further increasing the deficit burden left for younger generations to deal with (like myself).
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Originally posted by JonBoy View PostIf the President signs the bill before the end of the year the bill will go into effect on January 1st. This means you won't see any differences in your tax returns until the Spring of 2019.
What makes you think you wont see a difference till you do your taxes? If the percentages change, your employer would withhold less from you check i thought.
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Originally posted by JonBoy View PostBingo. I've long said that the 2 biggest failures of the last 20 years were the Patriot Act and Citizens United. The first was a huge erosion of the public's civil liberties and the second was the effective disenfranchisement of the public in favor of large corporations.
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