Paul Ryan Threatens to Cancel Christmas over Tax Reform

[IsailedawayfromFR]

For the record, I did not agree with that characterization of your post.

Don't know what records you are taking, but what do you object to anyway?  I asked the poster to define what he posted and he smart-assed/

He offered no data to support what he claimed.  He is just throwing stuff to the wall to see if it will stick, without substance.

[KingsX]

Here's something else that needs watching:


" The Nearly Invisible Trump Tax Plan Proposal That Could Threaten Social Security

A little-noticed provision in tax reform "

https://www.fool.com/retirement/2017/10/14/the-nearly-invisible-trump-tax-plan-proposal-that.aspx

Here's a Ron Paul quote about the GOP's tax plan and "Chained CPI"


" The framework also contains a stealth tax increase imposed via the chained consumer price index (chained CPI). Supporters of chained CPI clam the government is currently overstating inflation. The truth is exactly the opposite: government statistics are manipulated to understate inflation.

Chained CPI enhances the government’s ability to lie about inflation. One way it does so is by claiming that inflation does not lower our standard of living if we can substitute cheaper goods for goods made unaffordable by inflation. So inflation does not harm you if you can’t afford a steak dinner as long as you can still buy a cheeseburger.

Chained CPI allows the government to take maximum advantage of “bracket creep,” where individuals are pushed into higher tax brackets not because they are actually earning more money, but because inflation creates the illusion they are wealthier. In fact, by decreasing their purchasing power, inflation makes most people poorer. The inflation tax thus raises taxes on declining incomes. It is hidden and regressive, making it the most insidious of all taxes. "

http://www.ronpaulinstitute.org/archives/featured-articles/2017/october/09/will-tax-reform-increase-or-limit-liberty/

[Cyber Liberty]

Don't know what records you are taking, but what do you object to anyway?  I asked the poster to define what he posted and he smart-assed/

He offered no data to support what he claimed.  He is just throwing stuff to the wall to see if it will stick, without substance.

@IsailedawayfromFR

You misunderstood, I think.  I was disagreeing your argument was a strawman.  It was not, it was a good question that was dodged by the person who called it a strawman. Sorry.

[bilo]

I'm not sure if I have retired, gone Galt, or am just taking a little time for myself.  I do know that I'm not paying my "fair share" at the moment, so I certainly have no place to complain if the "rich" people get a tax break.

I believe tax cuts should go to the people who actually pay taxes.

Thank you for recognizing we don't just get to take from someone else whatever we want.

I have tenants who've asked why their rent keeps going up. My response puzzles most of them. I tell them, "my taxes have gone up, the fees I have to pay have increased, and regulations are becoming more expensive to comply with."

People don't understand I'm in business to make a profit. When I can't make a profit renting the apartments in buildings I own I will convert them to condo's and take the capital and put it into something else. 

[Bigun]

Thank you for recognizing we don't just get to take from someone else whatever we want.

I have tenants who've asked why their rent keeps going up. My response puzzles most of them. I tell them, "my taxes have gone up, the fees I have to pay have increased, and regulations are becoming more expensive to comply with."

People don't understand I'm in business to make a profit. When I can't make a profit renting the apartments in buildings I own I will convert them to condo's and take the capital and put it into something else.

@bilo

Add to that owning such properties in a major college town with tons of "dormitories", all constructed with tax money and without the need to jump through ANY government hoops to construct,  that can be and are rented for less than your breakeven point and you get where I am!

[KingsX]

Thank you for recognizing we don't just get to take from someone else whatever we want.

Tell that to the government that not only demands part of our income...
sometimes it demands our labor and our life [as in a military draft.]

[libertybele]

IF this 'tax cut' does indeed raise taxes on seniors and the poor and doesn't help the middle class a whole lot and helps the rich; don't expect the GOP to keep their majority in either chamber. 

[Cyber Liberty]

Tell that to the government that not only demands part of our income...
sometimes it demands our labor and our life [as in a military draft.]

The fact that you use the Government as your preferred weapon of theft doesn't get you off the hook for your moral failure of envy.

[RoosGirl]

And there hasn't been a draft since before I was born, but hey, it could happen I guess.

[bilo]

@bilo

Add to that owning such properties in a major college town with tons of "dormitories", all constructed with tax money and without the need to jump through ANY government hoops to construct,  that can be and are rented for less than your breakeven point and you get where I am!

I do get it! You're fighting with both hands tied behind your back against the heavyweight champion.

[Frank Cannon]

And there hasn't been a draft since before I was born, but hey, it could happen I guess.

What the hell are you talkin' 'bout Willis? I can get a draft at 95% of the bars in this country....

[RoosGirl]

What the hell are you talkin' 'bout Willis? I can get a draft at 95% of the bars in this country....

Yuck, beer.  It's worse than Gatoraide, and that's saying a lot.

[bilo]

Tell that to the government that not only demands part of our income...
sometimes it demands our labor and our life [as in a military draft.]

Oh come on, we haven't had a draft since the Vietnam War.

From your posts you've made it clear that you don't believe people in the top 10% should get a tax break. One of the things that is killing the USA is the people who don't pay taxes are a large enough voting block that politicians cater to them. So as they "demand" more free stuff those that are productive have more of their money taken from them. Socialism works until you run out of other peoples money.

The fairest approach to federal income taxes would be a flat rate, or a national sales tax. It won't happen though because to many people want things that they don't have to pay for.

[bilo]

The fact that you use the Government as your preferred weapon of theft doesn't get you off the hook for your moral failure of envy.

 

[Frank Cannon]

Yuck, beer.  It's worse than Gatoraide, and that's saying a lot.

I'm a single malt scotch drinker so I concur. Beer is so low brow. As a matter of fact they make a beer called that....

[Bigun]

I do get it! You're fighting with both hands tied behind your back against the heavyweight champion.

@bilo

Government at ANY level should not ever be in competition with the private sector!  It is completely unamerican!

[bilo]

@bilo

Government at ANY level should not ever be in competition with the private sector!  It is completely unamerican!

I'm with you!

What you see over and over again is where govt gets into competition with private business quality disappears, innovation slows, regulations grow dramatically and the costs climb for the consumer. 

[IsailedawayfromFR]

@IsailedawayfromFR

You misunderstood, I think.  I was disagreeing your argument was a strawman.  It was not, it was a good question that was dodged by the person who called it a strawman. Sorry.

No, I apologize for the misinterpretation.

[Cyber Liberty]

No, I apologize for the misinterpretation.

[Bigun]

I'm with you!

What you see over and over again is where govt gets into competition with private business quality disappears, innovation slows, regulations grow dramatically and the costs climb for the consumer.

@bilo

And the tax base shrinks!  They are killing the golden goose and I personally don't think it is by accident!

[KingsX]

And there hasn't been a draft since before I was born, but hey, it could happen I guess.

It could happen anytime the government wants it to happen...
the next war perhaps... and this time women will be drafted.

[KingsX]

IF this 'tax cut' does indeed raise taxes on seniors and the poor and doesn't help the middle class a whole lot and helps the rich; don't expect the GOP to keep their majority in either chamber.

The IRS will soon announce the official increased amounts of the standard deductions [there are currently several standard deductions] and personal exemption for 2018  [those amounts usually increase every year because they are indexed for inflation.] 

Based on unofficial projections by financial gurus of those inflation adjusted 2018 amounts... I personally would have $12,250.00 tax exempt and a 10% tax rate under current tax law. But the proposed GOP "tax cut" will only give me $12,000 tax exempt with a 12% tax rate.  Even if the current 2017 IRS amounts don't increase for 2018 [which they will],  I would still be paying more of my low income in taxes under the GOP proposed tax plan in 2018.