WTF? No thread on the new tax thingy?

Guess imma need you to point out what the republicans have done to the detriment of the poor...

 

Triggers man, triggers.

 

Where'd I say anything about a detriment? All I said is the repubs policies typically benefit the rich (tax plans, corporate benefits), the dems typically benefit the poor (social programs). Both come at the expense of the middle class.

 

I'd say you've taken a big ol' hit off the propaganda machine.

Both parties rape the middle class to the benefit of the outliers at either end.

 

I feel like doubling the standard deduction is going to screw homeowners, while at the same time rewarding every shithead millenial trust fund kid that just moved here from the west coast, living in downtown condo/apts that mommy and daddy rented for them.

I know we're waiting on details, but I've read $12K for individual and $24K for couples on the deduction.

 

Isnt that what Im saying? Obviously both sides are getting rich off it, but can you honestly say the repubs dont lean toward the rich side and dems lean toward the poor side?

 

Both side lean toward the votes they buy. Republicans lean towards folks that hire. Dems towards those they keep on the plantation, where they want them. The rest of us get screwed.

 

A better way of saying exactly what I was implying.

 

I guess that depends on if they remove the mortgage interest deduction or not, otherwise I'm not sure how it would affect homeowners vs. renters, etc.

$24k standard deduction is pretty big! I need to go back and look at what my itemized deductions were last year.

 

I'm not entirely sure what you're saying.

Republicans proffer as much poverty pimping as the democrats do, they just don't get the credit for it.

And democrats hand out as much treasury largesse to the fat cats as the republicans do, they just don't get blamed for it.

 

$12 an hour!

Imagine living off $24k a year.

 

I get that, but if my itemized deductions last year were only $18k, and the year before $17k, etc... then $24k would be beneficial to me. Maybe not everyone, maybe not even most, but we're discussing what effect it will have on an individual basis.

 

What we're not considering is the paperwork bullshit of pulling 12% post-$12k out of people's wallets only to give it back to them in subsidies for this, that, and the other.

If government stopped acting as the middleman (and taking a healthy cut of the take), things would be a fuckton more efficient and $12/hr might actually be a livable wage without the inconvenience fees of government.

 

Even if they don't, I think for a number of people (unless they have a really shitty interest rate, or a really big mortgage), the standard deduction is going to end up being higher than itemizing. I need to look back at mine. I'm not sure whether I had 12K in writeoffs last year. Renters certainly didn't.

Edit: I'm stupid - I did... So standard deduction has no effect on me, estate tax has no effect on me, and business claim stuff reducing tax bracket has no effect on me. That said, if it passes, I'm looking at setting up a business.

If the housing deductions are nullified or outright removed, the real estate market will take a big hit on this initially. People will just stop buying houses if there's no incentive. Make someone else own it. Of course, rents will probably go up, but it'll take a while for all of that to shake out.

 

The problem with 'starting a business' is that it will most likely be an LLC of some type, and I heard those taxes are going up, hence my not being happy about it since I'm a partner in an LLC. Only the big corp taxes will be dropping, because they see that they'll be 'double dipping' with corp tax and income tax on employees. With LLCs you cant do that because the company taxes go through the individual.

 

Those that dont have health insurance, cause they're too rich to qualify for the subsidies, and not rich enough to pay for the insane deductibles.

 

I have an answer, but its not a dollar amount, or a percentage of the population or any easily quantifiable number. The health care answer illustrates it as best I can.