WTF? No thread on the new tax thingy?

BAM! Problem solved. High five.

 

Just make sure that high five doesn't affect your hand usage.

 

Dude I'm slow I don't follow.

 

What I am saying is that if you slap hands too hard, or miss and hit your hand too hard on something, the effect could be bad enough to affect how you use that hand afterwards.

 

From what I heard on the radio this morning, reduction in corporate taxes, about 15% I think, eliminate estate taxes, raise taxes on the lowest and mid levels, remove deductions. Though the politician they were talking too couldn't be specific on the deductions yet.

 

So you're saying that impact might have an effect that would affect how your hand functions a̶f̶t̶e̶r̶w̶a̶r̶d̶ ̶.̶.̶.̶ ̶a̶f̶t̶e̶r̶w̶a̶r̶d̶s̶.̶.̶.̶a̶f̶t̶e̶r̶.̶.̶.̶ ...thereafter.

 

Hahahaha

 

I had my yearly review with my super duper, double throw down, economic advisor today and we ended up discussing this new tax plan. The advisor thinks that the tax rewrite will actually help the economy gain but he said that it will also hit people like him right in the teeth since he's not a corporation. For him, as well as all other unincorporated business people that presently have write offs (itemized tax form) it means that he has to file his taxes on the short form. He loses the ability to itemize his taxes so his taxes will go up by 15 or so percentage points. In his case he said that if the economy does take off he will make some of that extra tax cost back due to increased client investment so he's for it. Others may not be so it may end up failing.

 

If you're a management fuck that thinks a 'quantum leap' is a big change. An impact is Meteor Crater, not a latte machine in the breakroom.

 

Why waste energy on something that is not going to happen?

 

Affect.

And the current answer is we don't know. So many details are not yet figured out. Most likely, it will mean very little for most of us.

 

Is it energy or synergy?

 

That's like saying you should drink half your piss to save water.

 

Don't give him the answer, it ruins our fun.

 

I didn't want this thread to be like the other one. Maybe, just once, the dungeon can be fact -based?


I must be high.

 

The interesting thing to me is the removal of deducting your state and local taxes.

I'm not too thrilled with the increase in LLCs but the logic is sound.

I also heard that while deductions will be reduced the standard deduction will be doubled or more, as well as the child tax credit, hopefully with the affect (hehe) of a simplified tax code.

 

This is pretty much what I want to know too.

 

Well, I'm a "flat taxer" and believe in a balanced budget so I know I'm out of luck. Getting rid of the myriad of special interest deductions and the government's heavy hand in choosing winners and losers is a start. The elimination of state and local tax deductions (also property tax???) will kill this as Cali and NY will see that never happens.

 

Not much fact available just guesses on the details.

 

You mean comes at the expense of the middle class. The only difference is that repubs benefit the rich, the dems benefit the poor. Either way, middle class gets screwed.