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Most important, they are attacking my Iron Dukes donations. This will be my last season of tickets, if so. #FWP
 
SeanMayTriedToEatMe said:
They really did it. They touched the mortgage interest deduction and property tax deduction. Fools.

Also specifically called out Steph Curry as the one best example of a high-earning individual who should not get tax breaks compared to a small business. Not kidding.

No chance it passes with any changes to the benefits of home ownership. America is home ownership. I say this as a homeless person.
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Crazy stuff. That would create a housing, student loan crisis. Huge Federal Deficit.

I crunched the numbers using last year's return, and we'd lose out by over $1000.
 
Looks like Foghorn Leghorn was the Jan Boxill of the Trump campaign collusion with the Kremlin.
 
Maybe I’m just young and naive mbut this tax plan just reads like a fuck you to people in blue states and beneficial to Red
 
The thing about US corporate tax rates is, it's basically an illusion. No corporation with any knowledge of tax strategies actually pays those rates. There are so many allowable deductions, write-offs, depreciations, etc that only the most ignorant of companies will pay anything close to the published rate.
As a selfish, greedy bastard, I love the idea of an even lower tax rate, especially since they don't seem to be ending any of my additional business deductions. From a realistic standpoint, though, the tax rate shouldn't be reduced without doing away with a lot of those current allowable deductions. Hopefully they'll figure that out sometime after I retire.
 
Reading some of the shit in this tax bill, it becomes increasingly obvious that the GOP wants old people and poor people to just disappear.

Currently, individuals can deduct most out-of-pocket medical expenses that exceed 10 percent of their annual adjusted gross income—that is, taxable income minus deduction-based deductions. But under the proposed plan, that deduction would be eliminated. For individuals or families with high out-of-pocket medical bills, such as the elderly or the chronically ill, killing the deduction could mean major tax increases.
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A lot of people benefit from that deduction in the first few years of their children's lives, too.

The House bill also repeals the 15 percent tax credit for all taxpayers 65 and older, who can cut up to $5,000 from their tax bills as an individual or up to $7,500 for married seniors. The same credit is utilized by taxpayers under 65 who are retired on permanent disability.
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Fuck old people, anyway. Just work until you die. Or even better, just die.


Made permanent in 2013 by President Barack Obama, the adoption tax credit offsets the tax burden of adoptive parents by up to $13,460 per child, with credit in excess of the parents’ tax liability able to be carried forward for up to five years. The credit covers adoption fees, court costs and attorney fees, travel expenses, and other expenses related to adoption both domestic and international.

The current plan proposed by congressional Republicans would eliminate that tax credit, making adoption difficult for all but the wealthy. According to adoption agency American Adoptions, the total cost of an agency-coordinated adoption in the United States can reach nearly $40,000. For foster parents, who often report having lower than average median incomes, the elimination of the tax credit may discourage the adoption of foster children.
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The bill allows parents to create 529s, or qualified tuition plans, for beneficiaries the bill calls “unborn children.” In the plan’s summary, the term is specifically defined as “a child in utero… mean[ing] a member of the species homo sapiens, at any stage of development, who is carried in the womb.”
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So as I've long suspected, the GOP prefers fetuses to actual people.


And now that we're done fucking over the old and the less fortunate:

During the presidential campaign, Trump privately took heat from hedge funders when he unveiled a tax plan eliminating the carried-interest loophole, which allows private equity managers, venture capitalists, and real estate partners—like Trump himself—to get their earnings taxed at 23.8 percent, the same rate as capital gains, rather than at the highest marginal tax rate of 39.6 percent.

Under that part of Trump’s plan (since deleted), “carried interest will be taxed as ordinary income” to “ensure the rich will pay their fair share.”

For that reason, the president’s previous commitment to closing the loophole had drawn cautious praise from Democrats, including Senate Minority Leader Chuck Schumer, who vowed earlier this year to “work in good faith to perfect and potentially enact it.’

The current House proposal preserves the carried-interest loophole, the closure of which could raise as much as $180 billion over the next decade.
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Well the fucker is 429 pages long, so surely there MUST be something good in it. Of course it'll get voted on before anyone ever finishes reading it all, as intended.
 
The comments about that article are great. My personal fave:

MAGA--Mueller Ain't Going Away
 
This will be funny until Imperial Heavenly President Pence assumes the mantle of office and has her sent to a Work Camp for Fallen Jezebels.

 
Ninjas and Samurai are so earthbound. If Trump knew anything he'd call for an all-out Kamikaze attack.
 
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