Chris0nllyn
Well-Known Member
In the PDF link above your post.
GOP Tax Plan
- Thread starter Chris0nllyn
- Start date
In the PDF link above your post.
This_person
Well-Known Member
Seems to be why they did it. Easier for the plurality, increase the burden on the more financially successful.
Should be but one tax bracket.
This_person
Well-Known Member
Sam gave a great answer, but I'll go more broad - why do we have any deductions? I've heard many people say "if it can't vote, then it can't speak" when it comes to donations to politicians. Well, if it can't vote, it shouldn't get taxed, either. That means, no taxes on anyone under 18 or otherwise ineligible to vote, and 0% business taxes. The business taxes are hidden anyway. And, everyone should pay the same rate on every type of income, of every age, with no deductions whatsoever.
then, the government needs to run on the money provided via that. And, we need to take that job away from the business, and put it on the people. When you have to write a quarterly or monthly or weekly check, you'll damned sure pay more attention to where that money is going.
kwillia
n/a
The only behavior I see is states knowing they can tax the hell out of their citizens because the fed will dump money back to those citizens to off set it. That means those of us paying federal taxes are paying for California's (and other states who tax income) budget choices. How is that leveling any playing field?
SamSpade
Well-Known Member
A Californian is just as likely to say that since they average more fed dollars OUT than they get back - you're not subsidizing anything.
kwillia
n/a
But yet is subsidizing just the same. California elite is pretty vocal about wanting the rich to pay their fair share of taxes so I would think we will hear them rallying around this part of the new tax plan on tonight's entertainment news shows...
I found it elsewhere..finally. So yeah..the 25% max on pass-through income is still in there. Meh....it's a bit less effectively than the max I'm paying now, but only marginally so. I was hoping for 20%..like the proposed corporate tax rate.
Better than nothing, I guess...IF it ever passes as proposed.
Rommey
Well-Known Member
Also would not apply to the many (~70% of returns) that use the standard deduction instead of itemizing.
Rommey
Well-Known Member
Also would not apply to the many (~70% of returns) that use the standard deduction instead of itemizing.
The new GOP tax overhaul would strip illegal immigrants of the ability to claim several major tax credits, saving the government $23.1 billion over the next decade, according to the bill’s authors.
For years Republicans have complained that despite a general ban on taxpayer benefits flowing to illegal immigrants, the IRS has allowed them to collect the child tax credit, the American Opportunity Tax Credit and the Earned Income Tax Credit.
Efforts to shut down those claims have been tried in the House but have never cleared Congress.
But the new tax overhaul tries again, calling for taxpayers to have to submit work-eligible Social Security numbers in order to claim the credits.
http://www.washingtontimes.com/news/2017/nov/2/gops-tax-bill-cancels-23-billion-credits-illegals/
For years Republicans have complained that despite a general ban on taxpayer benefits flowing to illegal immigrants, the IRS has allowed them to collect the child tax credit, the American Opportunity Tax Credit and the Earned Income Tax Credit.
Efforts to shut down those claims have been tried in the House but have never cleared Congress.
But the new tax overhaul tries again, calling for taxpayers to have to submit work-eligible Social Security numbers in order to claim the credits.
http://www.washingtontimes.com/news/2017/nov/2/gops-tax-bill-cancels-23-billion-credits-illegals/
SamSpade
Well-Known Member
The single year that I did tax returns, the overwhelming number of them were people with low income who left with the Earned Income Tax Credit.
I always had mixed feelings about some of the stuff I saw, but I was not in the business of calling people out on their data.
But I can say for certain what others in the room with me confirmed - people farm out their kid's and relative's Social Security numbers.
I'd see people claiming to be married who probably weren't, and kid's names that didn't match either parent's (the mom would claim it's their dad's name).
I really couldn't question it, but what I know is, someone furnished them with a name and an SSN for money, and they were using it.
At such a low level of fraud I figured the IRS was just simply never going to track it down - after all, they went after people who cheated big, not low income people who cheated small, although some of those getting the EIC got a lot more "back" (EIC is essentially welfare - you're not getting taxes "back" when the refund is MUCH greater than all the taxes you paid) than *I* did.
I guess one thing that could occur from massively simplifying the tax code is it helps to eliminate fraud.
I do think however if we went to something VERY simple - like a straight consumption tax or a flat tax - there's be no need to even FILE.
Restitution
New Member
Although I am a proponent of flat tax as well, you have to consider this...
Right now, there are people that are too lazy to get up off their azz and get a job with the current tax system (and tax breaks) that we have now. A flat mandatory tax will definitely NOT help with that situation. A flat tax only works when you have a working culture and, unfortunately, we have a welfare culture.
Consumption TAX ... everyone pays
drug dealers and welfare recipients
no taxes 'to file' no tax cheats
awpitt
Main Streeter
Not really. People aren't going to pick up and move because of state's tax rate. If that were true, FL would have the bulk of our population.
awpitt
Main Streeter
Do you deduct your state and local taxes on your federal tax return? If so, why? If you think it's such a bad idea.
There is a segment of the population that would. Me.
What stops them is employment, business or family ties. When those things disappear, it's easy.
awpitt
Main Streeter
This bill would also make medical expenses no longer deductible. Do you think that is a good idea?
awpitt
Main Streeter
awpitt
Main Streeter
If that were true, it would've happened already.
black dog
Free America
Yep.... A flat tax on what what is spent not made.. All people & Companys pay the same.. Citizens and non citizens the same..