Author Topic: Future US tax policy  (Read 23900 times)

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 15620
  • Total likes: 7712
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinum®
Re: Future US tax policy
« Reply #80 on: August 15, 2019, 02:43:10 PM »
In the meantime, on the D side, here are some ideas being floated:

Quote
Julian Castro proposed a new inherited wealth tax on heirs receiving more than $2 million in their lifetimes, which he said he would use to help pay for a $3,000-per-child tax credit and expansion of the Earned Income Tax Credit.

The Democratic presidential candidate also would also match the capital gains tax rate to that paid on earned income. For those making more than $400,000, the marginal rate would be 40%. And Castro would use a mark-to-market accounting method that would tax assets as they appreciate, not when they’re sold.

Castro’s tax plan, released Thursday, differs from wealth taxes offered by rivals Bernie Sanders, who has proposed a 77% tax on billionaires’ estates, and Elizabeth Warren, who wants a tax of at least 2% on all assets of more than $50 million. Castro didn’t specify the rate for his inheritance tax, but it’s based on a “silver spoon” tax proposal that would charge 15% above the income tax rate.

“Why in the richest nation on Earth should we tax work more than wealth?” Castro said in a blog post announcing the plan. “The wealthy few have set up the rules to work for themselves, while working families who labor for a living are left behind.”
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #81 on: August 15, 2019, 03:07:57 PM »
In the meantime, on the D side, here are some ideas being floated:
So we have the R's that want to give all the breaks to the rich and corporations and the D's want to give the breaks to the poor and working class.
Only on DDF does 24/6 mean 24/5/half/half

Offline yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 10469
  • Total likes: 3831
  • DansDeals.com Hat Tips 43
    • View Profile
Re: Future US tax policy
« Reply #82 on: August 15, 2019, 03:23:50 PM »
Bottom line is that they both use our money for pork projects and then spend all day figuring out to squeeze more money out of us to cover the huge budget.

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #83 on: August 15, 2019, 03:30:11 PM »
Bottom line is that they both use our money for pork projects and then spend all day figuring out to squeeze more money out of us to cover the huge budget.
Agree with everything except the budget. They don't care about covering it up any more.
Only on DDF does 24/6 mean 24/5/half/half

Offline yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 10469
  • Total likes: 3831
  • DansDeals.com Hat Tips 43
    • View Profile
Re: Future US tax policy
« Reply #84 on: August 15, 2019, 03:36:08 PM »
Agree with everything except the budget. They don't care about covering it up any more.
So that make that *part* of the budget.

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #85 on: August 15, 2019, 03:39:18 PM »
We have a president that has piled debt on top of debt his whole life while bankrupting companies in the process. Why would anyone expect anything different?
Only on DDF does 24/6 mean 24/5/half/half

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 15620
  • Total likes: 7712
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinum®
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Only on DDF does 24/6 mean 24/5/half/half

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 17397
  • Total likes: 14334
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Future US tax policy
« Reply #88 on: October 24, 2019, 06:08:58 PM »
Ask the middle and lower class how this last plan worked out for them.
The ones I spoke with felt it helped them. It was more those who had high SALT and enough to itemize who were hurt.
Feelings don't care about your facts

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #89 on: October 24, 2019, 06:22:05 PM »
The ones I spoke with felt it helped them. It was more those who had high SALT and enough to itemize who were hurt.
Just the opposite from what I heard. Maybe one of us needs to get out more?  :)
Only on DDF does 24/6 mean 24/5/half/half

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 17397
  • Total likes: 14334
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Future US tax policy
« Reply #90 on: October 24, 2019, 06:25:46 PM »
Just the opposite from what I heard. Maybe one of us needs to get out more?  :)
::)
Feelings don't care about your facts

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 17397
  • Total likes: 14334
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Future US tax policy
« Reply #91 on: October 24, 2019, 06:26:44 PM »
Feelings don't care about your facts

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #92 on: October 24, 2019, 06:31:22 PM »
::)
Did you hear complaints how they owed this and didn't the year before?
Only on DDF does 24/6 mean 24/5/half/half

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 17397
  • Total likes: 14334
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Future US tax policy
« Reply #93 on: October 24, 2019, 06:35:14 PM »
Did you hear complaints how they owed this and didn't the year before?
no
Feelings don't care about your facts

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 15620
  • Total likes: 7712
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinum®
Re: Future US tax policy
« Reply #94 on: October 24, 2019, 06:35:24 PM »
When a plan is to assuage some vague feelings there is no way it would end up being effective at even that.
Or as pointed out in the article, have a high likelihood of being struck down by the SCOTUS.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline avromie7

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Feb 2014
  • Posts: 8188
  • Total likes: 2713
  • DansDeals.com Hat Tips 6
    • View Profile
  • Location: Lakewood
Re: Future US tax policy
« Reply #95 on: October 25, 2019, 09:26:13 AM »
Ask the middle and lower class how this last plan worked out for them.
It helped me significantly, probably cut my tax liability in half.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline avromie7

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Feb 2014
  • Posts: 8188
  • Total likes: 2713
  • DansDeals.com Hat Tips 6
    • View Profile
  • Location: Lakewood
Re: Future US tax policy
« Reply #96 on: October 25, 2019, 09:29:47 AM »
Did you hear complaints how they owed this and didn't the year before?
That's one of the dumbest arguments I've heard, whether you get a refund or owe when you file taxes is not the way to measure how the tax cut affected you. The only number that matters is your total tax liability. Bringing home more every pay check but then owing money at the end of the year does not mean the tax cut was bad.
I wonder what people who type "u" instead of "you" do with all their free time.

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #97 on: October 25, 2019, 09:38:07 AM »
That's one of the dumbest arguments I've heard, whether you get a refund or owe when you file taxes is not the way to measure how the tax cut affected you. The only number that matters is your total tax liability. Bringing home more every pay check but then owing money at the end of the year does not mean the tax cut was bad.
Is that an airplane flying over your head?
Only on DDF does 24/6 mean 24/5/half/half

Online CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Future US tax policy
« Reply #98 on: October 25, 2019, 09:38:48 AM »
It helped me significantly, probably cut my tax liability in half.
Great for you, mine tripled!!!
Only on DDF does 24/6 mean 24/5/half/half

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 17397
  • Total likes: 14334
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Future US tax policy
« Reply #99 on: October 25, 2019, 09:42:37 AM »
Great for you, mine tripled!!!

Did that coincide with retirement or other life changes?
Feelings don't care about your facts