New Tax Reform thread

I could see a chief or other brass making that kind of money but if an average that would mean beat cops would be above $100k. I think those numbers are BS as well.

 

Depends on what they include in total compensation...pensions (with an earlier retirement than many other professions), training, certifications, equipment, uniforms, etc., etc. Then there is the COL in some areas of CA...

 

I understand everything you wrote but the word pension. What is a pension? Never heard of that in the private sector.

 

My grandfather had one.

He's been dead 25 years.

 

I had a pension with GE, but they contacted me and had the value rolled out into an IRA, as they were ending the program.

 

But deductions are being eliminated along with those decreased rates, I haven't read all of it yet but it looks like it will be a wash for us and we'll pay more in a few years as it changes. Never mind the deficit increase, wasn't good under the past two presidents, isn't good now. How much US debt does China own now?

 

Yeah, a lot is being made of the expiring cuts. The sunset wouldn't have been necessary if a few Dems had supported tax cuts.

 

My wife had a pension with JPMorgan and my friend who works at J&J has one as well (I believe he got in the last year it was offered - 2013, I believe).

 

I'm sure you meant to say that loopholes are being closed and subsidies have been cut.
Deductions for state taxes are just a subsidy for that state paid for by the taxpayers in other states.

 

So you think business deductions are loopholes only to be used by corporations?

 

You'll have to be a bit more specific as to what you're referring to.
I was referring to removing deductions for state income taxes and excessive real estate taxes which was combined into one deduction with a maximum of $10k.

 

I saw a clip where Pelosi said in 7 years when the tax cuts end everyone will se a rise in their taxes basically what she said. So without admitting that people are getting a tax cut she says shes against it because later on if not kept you will have tax increase.

I am so tired of politicians.

 

Spare me the righteous indignation. The bill could have been better, sure, but that would have required the Dems to go along with cuts. To them, a cut is just slowing the increase.

 

What is she worried about? With any luck (for us), she will be dead by then.

 

Are you absolutely certain she isn't dead already?



I think Disney could pull that off easy.

 

Get a load of this shitbag>

https://nypost.com/2017/12/07/cuomo-comes-clean-on-new-yorks-high-taxes/

 

Might be a repost but it looks like California has figured out a away around the new federal cap on state tax deductions.

https://www.mercurynews.com/2018/01...maneuver-a-new-federal-cap-on-tax-deductions/

 

Maybe...I could see the IRS countering with a regulatory change.

 

HAHAHA what if I dont feel like 'donating' ... what a bunch of idiots.