Senate passes tax bill among party lines... Guess what? We get to fund private schooling too!

[Cuddles]

Amendments written by hand and crammed in there last minute..... What a travesty

https://mobile.nytimes.com/2017/12/...tax-bill.html?referer=https://www.google.com/

 

[sss12]

Amendments written by hand and crammed in there last minute..... What a travesty

https://mobile.nytimes.com/2017/12/...tax-bill.html?referer=https://www.google.com/

Not a travesty, just how a 2 party political system works. Spin curtesy of the Times.

 

[gwb-trading]

Amendments written by hand and crammed in there last minute..... What a travesty

https://mobile.nytimes.com/2017/12/...tax-bill.html?referer=https://www.google.com/

Actually I am generally supportive of most of these amendments outlined in the article -- this should be taken as good news.

 

[bullmarket79]

If they want tax "reform" then why not do away with all of the shenanigans like allowing Non Profits paying themselves millions, we got universities paying football coaches millions n chancellors big bucks as well. Expand the tax base and lower taxes for all instead of picking winners and losers, there all just a bunch of tax dodgers. Look at Soros, Gates, Buffet squirrelling away money there in control of but sheltered from Uncle Sam, reform the system not just let the lobbyist write tax law, geez, it's a piece of crap, scrap it.

 

[gwb-trading]

If they want tax "reform" then why not do away with all of the shenanigans like allowing Non Profits paying themselves millions, we got universities paying football coaches millions n chancellors big bucks as well. Expand the tax base and lower taxes for all instead of picking winners and losers, there all just a bunch of tax dodgers. Look at Soros, Gates, Buffet squirrelling away money there in control of but sheltered from Uncle Sam, reform the system not just let the lobbyist write tax law, geez, it's a piece of crap, scrap it.

Actually this tax bill (at least the last draft I have seen) curtails a lot of tax-free money associated with university sports and makes the sports & logo revenue taxable.

 

[Cuddles]

Actually I am generally supportive of most of these amendments outlined in the article -- this should be taken as good news.

Yeah, sure, they threw small businesses a bone to secure the vote, I just don't think we should be paying for people's private education.

 

[UsualName]

If they want tax "reform" then why not do away with all of the shenanigans like allowing Non Profits paying themselves millions, we got universities paying football coaches millions n chancellors big bucks as well. Expand the tax base and lower taxes for all instead of picking winners and losers, there all just a bunch of tax dodgers. Look at Soros, Gates, Buffet squirrelling away money there in control of but sheltered from Uncle Sam, reform the system not just let the lobbyist write tax law, geez, it's a piece of crap, scrap it.

Totally agree. That’s why I’m an advocate for lowering the social security tax and expanding it to all income. It’s a flat tax all income tax payers pay and everyone who works for a living will feel it right away, with no gimmicks.

All of the reduction in tax brackets is just a way to squeeze more taxes out of working people. The truth is we need more brackets, not less.

 

[gwb-trading]

Totally agree. That’s why I’m an advocate for lowering the social security tax and expanding it to all income. It’s a flat tax all income tax payers pay and everyone who works for a living will feel it right away, with no gimmicks.

All of the reduction in tax brackets is just a way to squeeze more taxes out of working people. The truth is we need more brackets, not less.

I agree with your statement that Social Security should be extended to all salary income (I assume you don't mean to include investment income as part of SS). To effectively fund social security I don't believe we can lower the rate, the system is already underfunded.

I disagree with your statement regarding tax brackets. Flattening tax brackets is a good thing. Preferably the tax system should be totally flat with no deductions (e.g. for mortgage interest, state/local taxes, etc.). I would rather see a flat federal income tax of 15% with no or very limited deductions than the mess we have right now.

The problem I have with the current tax changes is that it generally increased taxes on the middle class while removing deductions, but kept all the deductions in place for the wealthy to avoid taxes.

 

[Cuddles]

I agree with your statement that Social Security should be extended to all salary income (I assume you don't mean to include investment income as part of SS). To effectively fund social security I don't believe we can lower the rate, the system is already underfunded.

I disagree with your statement regarding tax brackets. Flattening tax brackets is a good thing. Preferably the tax system should be totally flat with no deductions (e.g. for mortgage interest, state/local taxes, etc.). I would rather see a flat federal income tax of 15% with no or very limited deductions than the mess we have right now.

The problem I have with the current tax changes is that it generally increased taxes on the middle class while removing deductions, but kept all the deductions in place for the wealthy to avoid taxes.

You mean to say you don't own a private jet, a summer house, and a golf course?

 

[gwb-trading]

You mean to say you don't own a private jet, a summer house, and a golf course?

Private Jet? Sure. Who would go without. Summer House? Why only one. Need a lake one and a beach one. Golf Course? Just use the country club's course.