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  1. #1
    Expert SheepDog4Life's Avatar

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    Taxes, taxes, taxes and LESS TAXES... wait, what?!?!?

    The US Senate passed a tax bill very similar to, though not the same as, the House bill This article lists all of the details of the Senate bill and the differences from the House bill. Scanning through it, it all looks like goodness to me, EXCEPT reducing the tax rate on pass-through income... that looks sketchy, IMO, especially since it excludes the "usual suspects" of doctors, lawyers and accountants who own, or are partners, in a practice.

    Here's what's in the Senate tax bill - Dec. 2, 2017
    Seen on Facebook: “Love trumping hate involves a lot more assault and arson than I thought it would”

    "I believe in a system of Love and Karma, but, to counterbalance that, if it fails, I'm buying an AK-47..." - Unidentified Californian on Fox News following Antifa protests fascist riots

  2. #2
    Expert SheepDog4Life's Avatar

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    Here's a very good article by WaPo that explains the differences between the House and Senate versions of the bills which much be reconciled... both houses of Congress must pass the exact same bill for it to be sent to the President.

    https://www.washingtonpost.com/graph...=.d727a3fdcab3

    Here's one very noteworthy quote:

    Both the House and Senate changes to the child tax credit to require a Social Security number, which would prevent undocumented immigrants from receiving it.
    Which means that they are currently able to do so... I'm astonished!
    Seen on Facebook: “Love trumping hate involves a lot more assault and arson than I thought it would”

    "I believe in a system of Love and Karma, but, to counterbalance that, if it fails, I'm buying an AK-47..." - Unidentified Californian on Fox News following Antifa protests fascist riots

  3. #3
    Grandmaster Leadeye's Avatar

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    I am reminded of the time I was in an HR office where they were asking for a social card from an employee. He had three all with different numbers.
    Where's the Kaboom? There was supposed to be an earth shattering Kaboom.

    Marvin the Martian

  4. #4
    Grandmaster HoughMade's Avatar

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    I got in the middle of a big protest in fron of Grand Central Terminal this morning. Bunch of people wearing SEIU hats. They were handing out signs that said: "Tax Cuts Destroy ____________" and they were supposed to write in what they wanted. I saw things like "healthcare", "food stamps", etc. I wanted to get one and write "Government's Power"...but we were on our way to breakfast.

    Their were pre-printed signs saying: "Tax Cuts Destroys Lives".

    Leaving the area, I ranted to my wife about how the lower 45% of wage earners don't pay any taxes...this seemed to make people around me....uncomfortable.

    Other than that, NYC is fun during the holidays.
    ​Bullies suck. They also make you stronger.

  5. #5
    Grandmaster HoughMade's Avatar

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    Quote Originally Posted by SheepDog4Life View Post
    ...Which means that they are currently able to do so... I'm astonished!
    Are they? We need SS numbers for our kids. Have since we started having kids 20 years ago.

    [edit]

    Yes they are. They cannot get earned income credit or claim as a dependent without a SSN, but can claim child tax credit.

    That article about the differences just made me angry in its editorial comments...lamenting the inability of people who DON'T PAY TAXES to get the child tax credit. Sheesh.
    Last edited by HoughMade; 12-02-2017 at 17:42.
    ​Bullies suck. They also make you stronger.

  6. #6
    ATM
    ATM is offline
    will argue for sammiches. ATM's Avatar

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    Keep cutting. Let me know when we get to zero.



    www.reveresriders.org

    Say no to drugs. Say yes to bacon!

  7. #7
    Expert SheepDog4Life's Avatar

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    Quote Originally Posted by HoughMade View Post
    Are they? We need SS numbers for our kids. Have since we started having kids 20 years ago.

    [edit]

    Yes they are. They cannot get earned income credit or claim as a dependent without a SSN, but can claim child tax credit.

    That article about the differences just made me angry in its editorial comments...lamenting the inability of people who DON'T PAY TAXES to get the child tax credit. Sheesh.
    I'm with you... there were several I could choose from to highlight, but that one took the cake.

    And, kudos to the GOP for correcting it instead of resorting to their decades old, sniveling coward, run from their own shadow routine.
    Seen on Facebook: “Love trumping hate involves a lot more assault and arson than I thought it would”

    "I believe in a system of Love and Karma, but, to counterbalance that, if it fails, I'm buying an AK-47..." - Unidentified Californian on Fox News following Antifa protests fascist riots

  8. #8
    Master KittySlayer's Avatar

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    Funny thing is if most the whiners sat down and calculated their own personal taxes under the new plan they would be paying less. If they feel guilty about not paying so much they can always send in extra to the IRS or direct the savings to a charity.

    I was pleasantly surprised how much less I would pay.

  9. #9
    Expert semperfi211's Avatar

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    Unless it is a flat tax with the same rate for everyone of every income with no deductions then I don't like it.

  10. #10
    Expert Tryin''s Avatar

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    Quote Originally Posted by semperfi211 View Post
    Unless it is a flat tax with the same rate for everyone of every income with no deductions then I don't like it.
    Replace “flat” with “consumption” (POS) and you will be singing my song.

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