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Re: Bye Bye [B.McMaster] [ In reply to ]
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Didn't intend to be overly critical... I just think anytime people talk tax cuts they need to understand bigger picture. Wish I understood the bigger picture too.
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Re: Bye Bye [spudone] [ In reply to ]
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spudone wrote:
gphin305 wrote:
spudone wrote:
gphin305 wrote:
SH wrote:
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On an interesting note, when polled about the economy before and after the 2016 election, Republicans overwhelmingly thought it sucked before the election and that it was great after the election, despite no change in any meaningful metrics.


On another interesting note, when polled about the economy before and after the 2016 election, Democrats overwhelmingly thought it was great before the election and that it sucked after the election, despite no change in any meaningful metrics.

Maybe it's less interesting and more just sadly predictable.


Maybe not considered "meaningful metrics" but a big factor to the economic growth rate as a result of DJT was the reduction in the corporate tax rate from 35 to 21% as well as the tax cut for individuals. While many Trump haters cried it was a tax cut for the rich and is really not mentioned much these days..... but everyone who has a job and pays taxes is benefiting.


Quit repeating this b.s. If you live in a place (mostly blue states) where you itemized deductions and took advantage of state and local deductions, then you potentially got screwed by the new cap.


You are right......the key word is "potentially".....but for the vast majority.....not likely. Do your research......or see a good tax accountant. Or get your "blue" state to run properly and you won't have this issue.


Granted not everyone itemizes. But there are *plenty* of upper middle class who are affected. Think about the big tech areas - pretty much all you need is a deduction from your home loan.

You can try to frame this as a small percentage of people, but you are incorrect.

Democrats are the party of the rich and Republicans are generally the party of deplorables and hayseeds. Les Miserables, if you well. How that happened I have no idea, but there's no doubt about it. And the Dems hate elimination of the SALT deduction:

"The Democrats are the Party of the Rich. They were swept into the House majority by a revolt of the elites. This party of Orange County, Westchester County, and Chicago’s North Shore is playing the part, wasting no time pushing policies to hand special tax breaks to their upper-middle-class constituents.

Consider Rep. Nita Lowey, D-N.Y. As the chairwoman of the Appropriations Committee, former chairwoman of the Democratic Congressional Campaign Committee, and in the top 10 in seniority among Democrats, Lowey is among the most powerful members of Congress.

She has introduced two bills so far. One is the appropriations measure to reopen the government. The other is a major tax cut for the rich.

Lowey’s bill would undo exactly one part of the Tax Cuts and Jobs Act: the limit on deductibility of state and local taxes, including property taxes. The law capped the state and local tax deduction, or SALT deduction, at $10,000.

That cap doesn’t affect most tax filers. If you claim the standard deduction, as most taxpayers do, you don’t benefit from the SALT deduction. Since tax reform nearly doubled the standard deduction, about 88 percent of all taxpayers will not itemize. If your state and local taxes are at or below $10,000 per year, you also aren’t affected by the cap.

The cap on the SALT deduction mostly cut into the tax breaks of high earners in high-tax places."


Personally, if only 12 percent of people are getting fucked over by the latest round of tax reform, I can live with that. I don't know if they can, but there's an old saying they should learn: "Suck it up and drive on."

"Politics is just show business for ugly people."
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Re: Bye Bye [gphin305] [ In reply to ]
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gphin305 wrote:
Sanuk wrote:
I wonder if anyone will take the word of the traffickers from the El Chapo trial who know a thing or two about how to get drugs in the country. As everyone (other than Trump and his supporters) knows, the inflow of drugs isn't what Trump is claiming.

..."Most drugs are smuggled into the United States onboard fishing boats, trains, tractor-trailers and ordinary cars that come into the country at legal ports of entry, according to former cartel members who've testified in the trial of notorious cartel leader Joaquin "El Chapo" Guzman..."


The traffickers are doing a good job of making Trump look naive.


https://edition.cnn.com/2019/01/12/us/drug-traffickers-el-chapo-trial-drugs-across-border/index.html


Well, I guess that settles it then. I mean, why would a El Chapo cartel drug dealer lie to Congress? Make sure you pass this along to all the border patrol agents manning our border so they can go home now.
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I thought about that as well, but my thought on the larger picture is that; 1) we must be missing too much at the border, and 2) the bulk of drugs are coming across at those border control points precisely because we have walled other possibilities.
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Re: Bye Bye [dave_w] [ In reply to ]
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dave_w wrote:
gphin305 wrote:
Sanuk wrote:
I wonder if anyone will take the word of the traffickers from the El Chapo trial who know a thing or two about how to get drugs in the country. As everyone (other than Trump and his supporters) knows, the inflow of drugs isn't what Trump is claiming.

..."Most drugs are smuggled into the United States onboard fishing boats, trains, tractor-trailers and ordinary cars that come into the country at legal ports of entry, according to former cartel members who've testified in the trial of notorious cartel leader Joaquin "El Chapo" Guzman..."


The traffickers are doing a good job of making Trump look naive.


https://edition.cnn.com/2019/01/12/us/drug-traffickers-el-chapo-trial-drugs-across-border/index.html


Well, I guess that settles it then. I mean, why would a El Chapo cartel drug dealer lie to Congress? Make sure you pass this along to all the border patrol agents manning our border so they can go home now.
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I thought about that as well, but my thought on the larger picture is that; 1) we must be missing too much at the border, and 2) the bulk of drugs are coming across at those border control points precisely because we have walled other possibilities.

I would be highly skeptical of the theory that most drugs are smuggled via ports of entry because of the wall that exists in places. Most drugs are smuggled via vehicles, boats and planes. Always have been, even before there was 700 miles of wall. More wall won’t change that, but it fits Trumps narrative to say it will.
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Re: Bye Bye [B.McMaster] [ In reply to ]
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B.McMaster wrote:
spudone wrote:


I've done the math so its not my opinion, but its a fact based on the returns I've helped prepare and will be filed in the next few weeks when all the tax documents are finalized.

I call BullShit. You've completed returns in the first 2 weeks of January, BEFORE most W2s and 1099s have even been sent out? Why? Sheer BS!
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Re: Bye Bye [Harbinger] [ In reply to ]
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Harbinger wrote:
B.McMaster wrote:
spudone wrote:


I've done the math so its not my opinion, but its a fact based on the returns I've helped prepare and will be filed in the next few weeks when all the tax documents are finalized.


I call BullShit. You've completed returns in the first 2 weeks of January, BEFORE most W2s and 1099s have even been sent out? Why? Sheer BS!


Did you stop reading where you stopped bolding. Read the next few words

I do it every-year to help with cash flow planning.

Not hard to do. You take the last paycheck from December.

Your December mortgage statement also has LTD interest paid.

You should have your donations in a spreadsheet to easily input.

Any interest/dividends are also off December statements or you just track your stock sales to easily calculate the gain loss.

You can't finalize as I stated but you can get really close.

Again - not hard to do to get a really good estimate,


Small edit - if you have significant k-1 income, then its much harder to do and I would not waste my time.
Last edited by: B.McMaster: Jan 13, 19 14:57
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Re: Bye Bye [Harbinger] [ In reply to ]
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Harbinger wrote:
B.McMaster wrote:
spudone wrote:


I've done the math so its not my opinion, but its a fact based on the returns I've helped prepare and will be filed in the next few weeks when all the tax documents are finalized.


I call BullShit. You've completed returns in the first 2 weeks of January, BEFORE most W2s and 1099s have even been sent out? Why? Sheer BS!

Well, there are people that would not be getting a W2 or a 1099.
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Re: Bye Bye [gphin305] [ In reply to ]
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Well, I guess that settles it then. I mean, why would a El Chapo cartel drug dealer lie to Congress?

Except for the inconvenient fact that the governments own statistics prove that the cartel drug dealers are correct, most of the drugs aren't crossing open borders. But, you can continue to believe Trump because he's only doing it for the good of America and it has nothing to do with politics.

Do you ever stop and think why the Trump supporters first reaction when someone says something opposed to Trump is to attack the accuser but when someone like Trump constantly lies, those are ignored and his word is gospel. It's very strange.
Last edited by: Sanuk: Jan 13, 19 17:32
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Re: Bye Bye [Sanuk] [ In reply to ]
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Sanuk wrote:
Well, I guess that settles it then. I mean, why would a El Chapo cartel drug dealer lie to Congress?

Except for the inconvenient fact that the governments own statistics prove that the cartel drug dealers are correct, most of the drugs aren't crossing open borders. But, you can continue to believe Trump because he's only doing it for the good of America and it has nothing to do with politics.

Do you ever stop and think why the Trump supporters first reaction when someone says something opposed to Trump is to attack the accuser but when someone like Trump constantly lies, those are ignored and his word is gospel. It's very strange.

No way! They are carrying bales of marijuana across the desert. Their calves are like freaking melons.

I'm beginning to think that we are much more fucked than I thought.
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Re: Bye Bye [j p o] [ In reply to ]
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No way! They are carrying bales of marijuana across the desert. Their calves are like freaking melons.


Yeah, not sure why he is so shocked that drugs don't go across the open border. It was kind of obvious to me that people would try to cross open borders but drugs would come in by plane, boat, or smuggled in trucks or trailers across a legal checkpoint.


But when Trump says something to his followers, common sense is the first victim.
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