Who Benefits From Donald Trump's Tax Plan?

 

spoiler:

wealthy people, lower and middle class get hosed.

 

No complaints from me, ha. The child care credits should increase, they are so low now relative to the actual cost, especially in big cities.

I see Middle class anywhere from 25-75k depending on location.

I see Middle class anywhere from 25-75k depending on location.

I must look at things differently, I view middle class as being 75-125K. Lower mid of 50-75K and upper mid of like $125-$200K (might even go higher). But again, I might have the same issue as Sqwert as the median home in the county I live in is $661K. Two teachers teaching in the district I live in (with a masters) are getting somewhere between $140-$160 (obviously this is a dual income) per year.

I must look at things differently, I view middle class as being 75-125K. Lower mid of 50-75K and upper mid of like $125-$200K (might even go higher). But again, I might have the same issue as Sqwert as the median home in the county I live in is $661K. Two teachers teaching in the district I live in (with a masters) are getting somewhere between $140-$160 (obviously this is a dual income) per year.

Yeah it depends on location for sure.

 

I saw if you took out the poorest 20% and the richest 20% you get a range for middle class from 47k-140k

I must look at things differently, I view middle class as being 75-125K. Lower mid of 50-75K and upper mid of like $125-$200K (might even go higher). But again, I might have the same issue as Sqwert as the median home in the county I live in is $661K. Two teachers teaching in the district I live in (with a masters) are getting somewhere between $140-$160 (obviously this is a dual income) per year.

 

Yea it definitely varies significantly based on location. Where I'm at if your household is pulling $75-$125k you're living on easy street. $600k would get you a big beautiful home with 40 acres of land.

Yea it definitely varies significantly based on location. Where I'm at if your household is pulling $75-$125k you're living on easy street. $600k would get you a big beautiful home with 40 acres of land.

 

Where I am, 600K would get you a place across the street from the Lake.

Where I am, 600K would get you a place across the street from the Lake.

600k doesnt seem to go very far these days around here. Plus the f***ing taxes

Where I am, 600K would get you a place across the street from the Lake.

 

I could buy like 10 houses in my neighborhood for 600K.

Yeah it depends on location for sure.

 

I saw if you took out the poorest 20% and the richest 20% you get a range for middle class from 47k-140k

Damn...that has to be right cause it fits pretty squarely in my range. Feels about right.

I could buy like 10 houses in my neighborhood for 600K.

 

Me too. The beach is just more expensive.

600k doesnt seem to go very far these days around here. Plus the f***ing taxes

 

That is where Indiana's tax laws are dreamy. Your primary residence is limited to 1% cap on property taxes. That $600k house can never cost you more than $6k in a year. If it is your second house, it can't be more than 3%.

That is where Indiana's tax laws are dreamy. Your primary residence is limited to 1% cap on property taxes. That $600k house can never cost you more than $6k in a year. If it is your second house, it can't be more than 3%.

 

That would be nice. We pay about $23 for every $1000 assessed value here.

That is where Indiana's tax laws are dreamy. Your primary residence is limited to 1% cap on property taxes. That $600k house can never cost you more than $6k in a year. If it is your second house, it can't be more than 3%.

I'm 3x that cost. I get that we pay a premium to have great schools and a nice clean village close to chicago, but the bill is always painful. I'd vote for anyone that can figure out how to lower it.

I'm 3x that cost. I get that we pay a premium to have great schools and a nice clean village close to chicago, but the bill is always painful. I'd vote for anyone that can figure out how to lower it.

 

 

As long as tax dollars pay for schools, police, and fire it probably won't go down anytime soon.

I'm 3x that cost. I get that we pay a premium to have great schools and a nice clean village close to chicago, but the bill is always painful. I'd vote for anyone that can figure out how to lower it.

 

All of Indiana is like this. Doesn't matter the school district, it is state law.

As long as tax dollars pay for schools, police, and fire it probably won't go down anytime soon.

 

Pensions.

So I guess I overlooked this (or it was buried by our new media overlords), but the Christie conviction of Kushner's father is a pretty interesting read.

 

 

To be honest? The bottom tax rate is meaningless. NO one actually pays that tax rate. By the time all of the deductions are taken, especially the EITC, most people who would fall into the 10% bracket are actually paying a negative tax rate. The bottom 50% of earners in this country pay an average income tax of about 3% versus the 28% at the top 0.1% or 27% at the top 1%.

 

That also means that any cuts of the lowest income tax bracket are practically worthless. People in those ranges aren't paying any of those taxes anyway.

 

Politically, it is so stupid to even think about raising the bottom rate. It isn't like you are going to raise an appreciable amount of income anyway as long as the deduction structure we have in place now sticks around. The blowback you get from it will destroy any help to the bottom line that this would raise.

Just to stress again...all of those are still subject to the payroll tax, which is much larger than the quoted numbers.

The irony of course is that Obama's opinion completely changed once he was in charge. I fully expect the same epiphany to happen to Trump once his advisors get ahold of him.

 

http://www.realclearpolitics.com/articles/...rds_125489.html

 

It made some sense when we were arguing the RMB should have been set at 5.5-6.0 (undervalued artificially to give exports an advantage.)

 

That was a long time ago.

 

Now the issue is that 50% of the trading value is out of their control after the addition to the special drawing rights bundle of (official reserve) currencies last year. They want to stop it from devaluing further because it's causing money to flee the country and discouraging foreign direct investment. Not even capital controls are working.

 

Look at the hot Chinese money flowing into the US and Canadian property markets, both residential and commercial. Not only that, but Chinese are pushing for more and more foreign takeovers and putting their assets into such areas as US theatre chains and movie production (Alibaba and Wanda).

 

I guess you'd have to ask Vancouver residents if their home values going up or becoming unaffordable to first time homebuyers is a good thing. At any rate, very reminiscent of when the Japanese were buying up America from 1985-1993. That didn't have such a happy ending for them.

If I post this same tweet in 4 years, would you assume I'm trying to be non violent?

??????

The people helping him don't know who the finalists are, if he is the only one who knows. Why is he playing a game? The country isn't a reality TV show.

 

He isn't telling his people who the finalists are. They even tell you who the finalists are on the Academy Awards, but Donny , the guy who claimed the election is rigged, then won with the second most votes, is keeping everyone is suspense again.

 

The guy is a joke. I doubt he lasts his term.

So you have ZERO answer to the question. Thanks.

http://www.miamiherald.com/news/politics-g...e115165698.html

 

Rand Paul will block Bolton and Giuliani, Corker more likely for Secretary of State

 

 

http://www.thedailybeast.com/articles/2016...rs.html?ref=yfp

President-Elect PT Trump gets to work betraying his backers

 

http://www.cnn.com/2016/11/17/politics/chu...rump/index.html

Dems hope Trump meets his match in Schumer

 

 

Number of hate incidents at 437 in one week and rising...almost exactly one for each House member

https://www.yahoo.com/news/hate-incidents-s...-231607863.html

67 percent increase in anti-Muslim attacks since 2014...coincidence?

Edited November 17, 20169 yr by caulfield12

Who Benefits From Donald Trump's Tax Plan?

 

spoiler:

wealthy people, lower and middle class get hosed.

It's just unbelievable and f***ing sad.

Please be Bob Corker.

GOP transition:

✔️Appoint white nationalist as WH adviser

✔️Cite Japanese internment to justify Muslim registry

✔️Take all-white GOP selfie

— Rep. Barbara Lee (@RepBarbaraLee) November 17, 2016

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(a la Homer Simpson) This is going great.