Will your federal taxes be going up or down next year?

[avromie7]

Many state that individuals will get benefits from corporations getting tax breaks. Is so why not cut out the expense of the middle man and give them directly to the individuals

Because it's morally wrong, unless you ask Hugo Chavez.

They lower the rate to 21% but how many are already paying an effective tax rate lower than that without the cut?

That's why we lower the rate and get rid of deductions. That closes the gap between the rate and the effective rate. It also takes away the incentive to use convoluted methods that are not conducive for the economy to try to avoid paying taxes.

[aygart]

Many state that individuals will get benefits from corporations getting tax breaks. Is so why not cut out the expense of the middle man and give them directly to the individuals.

Part of the purpose is to bring back companies which have been keeping $$ in overseas entities. That can give much more benefit than the actual tax cut. Also, you are not adding a middle man by cutting taxes, you are removing the Govt as a middleman.

[ChaimMoskowitz]

Part of the purpose is to bring back companies which have been keeping $$ in overseas entities. That can give much more benefit than the actual tax cut. Also, you are not adding a middle man by cutting taxes, you are removing the Govt as a middleman.

Didn't they have a program to bring back overseas money at a reduced rate and it was a flop or am I thinking about something else.
You can look at it any way you want but would you rather have the gov give you a bigger cut or wait/hope it trickles down from greedy corporations?

[aygart]

Didn't they have a program to bring back overseas money at a reduced rate and it was a flop or am I thinking about something else.
You can look at it any way you want but would you rather have the gov give you a bigger cut or wait/hope it trickles down from greedy corporations?

Of course because when it is a temporary program it is shortsighted to take advantage of it only to pay higher in future years when you can keep it low by it staying where it is.

[aygart]

Didn't they have a program to bring back overseas money at a reduced rate and it was a flop or am I thinking about something else.
You can look at it any way you want but would you rather have the gov give you a bigger cut or wait/hope it trickles down from greedy corporations?

That depends. I would rather have a better job with a higher salary than have my taxes cut in half from $1000 to $500

[ChaimMoskowitz]

I would rather have a better job with a higher salary than have my taxes cut in half from $1000 to $500

Most would take one in the hand than two in a burning bush. 

[ChaimMoskowitz]

Of course because when it is a temporary program it is shortsighted to take advantage of it only to pay higher in future years when you can keep it low by it staying where it is.

They always find a reason not to do it. Just like they will find reasons not to pass it on to the workers.

[davidmal]

[ChaimMoskowitz]

Is there a box for "He is my president and I don't want rich/corporate rates cut as much?" 

[aygart]

Most would take one in the hand than two in a burning bush. 

That does not mean it is better for them or the country.

[aygart]

They always find a reason not to do it. Just like they will find reasons not to pass it on to the workers.

Until you make it well worth their while. Then they find reasons to do it.

[ExGingi]

Is there a box for "He is my president and I don't want rich/corporate rates cut as much?" 

You need a court order changing your name to Bernie Sanders in order to be eligible to check that box.

[ChaimMoskowitz]

You need a court order changing your name to Bernie Sanders in order to be eligible to check that box.

Since when do I need a court order? 🤑

[aygart]

https://www.wsj.com/articles/the-tax-cut-elizabeth-warren-should-love-1493152062

[aygart]

https://www.wsj.com/articles/listen-to-bernie-1514326450

Senate Majority Leader Mitch McConnell should act on Mr. Sanders’ suggestion and schedule a January vote to remove all the expiration dates from the new tax law. Here’s to a happy new year of bipartisanship!

[skyguy918]

https://www.wsj.com/articles/listen-to-bernie-1514326450

Senate Majority Leader Mitch McConnell should act on Mr. Sanders’ suggestion and schedule a January vote to remove all the expiration dates from the new tax law. Here’s to a happy new year of bipartisanship!

And if he doesn't, will you concede the point?

[aygart]

And if he doesn't, will you concede the point?

Why would I? It is not so simple to just get a vote in there. I do think he should. Do you think that if they had no constraints on the bill they would have had it expire?

[Deal Guy]

Can someone educate me what the difference is between some parts expiring in 2025 and some parts being permanent?

For example come 2020 or 2024, and the Dems take over the House, Senate and Presidency, they can revamp and tax rules they want. The Reagan tax code was also permanent until it wasn't permanent anymore this year.

So why the outcry over what is temporary or permanent?

[aygart]

Can someone educate me what the difference is between some parts expiring in 2025 and some parts being permanent?

For example come 2020 or 2024, and the Dems take over the House, Senate and Presidency, they can revamp and tax rules they want. The Reagan tax code was also permanent until it wasn't permanent anymore this year.

So why the outcry over what is temporary or permanent?

Making a change requires selling that change and possibly paying a political price to do it. If it is permanent the only way the Dems change it is by going and doing it. If it is permanent then if with nothing done it expires.

[ChaimMoskowitz]

https://www.wsj.com/articles/listen-to-bernie-1514326450

Senate Majority Leader Mitch McConnell should act on Mr. Sanders’ suggestion and schedule a January vote to remove all the expiration dates from the new tax law. Here’s to a happy new year of bipartisanship!

#fakenews