Home Forums Hunting & Shooting Hunter's Campfire So, the Repub Tax Plan will only cut business taxes

That was the first mistake should have went thru general order.

Would it help to understand how California and states with local and state personal income taxes pay a larger share of infrastructure cost instead of being a total drain on the Feds.... California being something like the 6th or maybe the 7th largest economy compared to countries not states, and who by the way do you think pays for infrastructure for those states that don't quite have such a large population... yup.

Get tired of all the complaining about taxes, specifically business taxes, most business have so many deductions, write-offs, subsidies, give away's and loop-holes that they don't pay any business taxes, in fact most are being paid just for being.

In fact only an idiot would think that it is business tax that is driving companies over seas, most cases its the opportunity for expansion and new business

Phil

It is becoming very clear that this tax deal is only for the rich and corporations.
Corporations don,t need a tax break, they have more money now than any time in history.
If you are going to pass tax change, middle income tax should have been permanent
Just shows Trump is out to help himself, not the rest of the middle class.

The only reason the C-corp tax cut is permanent and the tax on pass through entities is not has to do with the need to pass this through the reconciliation process, and not through general order.

Anyone who says middle income families will not benefit is a liar.

Doubling the standard deduction and doubling the child tax credit will be benefit way more middle income families then the deductions eliminated.

As so what if Trump saves a billion or even two billion in taxes. What do you think he will do with that money, but invest it in more projects and start another 100 companies.

Two billion dollars in the private hands of Trump will create way more jobs than two more billion in the hand of the Federal Bureaucracy..

I'll be the first to admit I don't understand the tax code. I pay what I owe, and when I'm lucky I get a refund in the spring. Would I like my taxes to go down? Fuggin a. Am I willing to pay more now that I make more than I did as a broke ass 20 yo? Yeah, I am.

So states like CA and NY tax the living fugg out of their residents, who then get to claim that as a deduction on the fed taxes. New plan says, nope, local taxes are your own problem. I've got a hard time seeing how that's my fault. Or really, how you can justify that being written into the tax code?

We don’t know what Trump does or doesn’t do with his money because he doesn’t show his Tax Returns.

Why do individual deductions lapse while Corporate deductions remain permanent? You say increased standard deductions will help middle class but you don’t respond to why they don’t remain permanent.

Will there be so much growth that the National Debt will be eliminated? Why didn’t this work at the state level in Louisiana and Kansas?

How come suddenly the deficit isn’t important?

I'm calling "Bs" on djs, if you are a Sub S and you aren't getting tax relief with the House Bill, fire your CPA. Because the pass through goes to your personal lower rate, and surely you have some capex every year and occasionally a large capex which lowers your rate even more. Now truthfully, after the 2 bills are reconciled who knows what stays, but 90% of sub s or llc's get relief. They cannot make the personal tax reductions permanent until they are able to cut back entitlement spending which would then give them the numbers they need to make the rules eligible under the reconciliation to fall into permanent status category.

13 million Americans will lose their Health Insurance under this plan. Middle income tax plan is until 2025 and corporate is permanent,
high property tax states will get the shaft under this plan and any one with expensive medical issues will go bankrupt. This tax bill is
for corporations only. No corporate tax lope holes are being closed. No off shore tax havens are being closed. In 3 years we will have a
big tax increase paid for by the middle class.

All Sales tax hurts the poor/low income a lot more because they have to spend every penny to live.
the rich don,t spend most of their money.

All Sales tax hurts the poor/low income a lot more because they have to spend every penny to live.
the rich don,t spend most of their money.

It looks like Trump lied when he was campaigning, saying the new tax bill was for the middle class and would not help him.
looks like the exact opposite is happening. Plus congress is spending money we don,t have and giving it to corporations that
don,t need it. Why do you give a tax break to a corporation that has more money than any time in the history of the United
States? Have you seen where record numbers are sighing up for the affordable care act. Very easy to say you don,t need
insurance when it,s not you who is affected. Every one else will pay for the uninsured any way thru higher Hospital bills that other
insurance companies have to pay. Hospitals have to treat people, so some has to pay for it.

Why cut corporate taxes? Simple. Corporations don't really pay taxes. They collect them from their customers and pass the money on to the government. You pay them every time you buy a hamburger or a set of tires. It's simply a method of concealing the taxes, so people don't realize what they are actually paying.

That shell game works well enough, as long as the rates are pretty much in line with what the rest of the world is doing. As it is, ours are not. That forces the big international corporations to move jobs offshore, and it makes our products uncompetitive in the world market.

Cutting the corporate tax rate to 20% may be the single most important financial thing the government can do for the voters, though it's hard to convince the voters that is true.

It will result in the repatriation of billions of dollars held offshore, and it will create an influx of American jobs.

It's not the voters vs. the corporations. Both voters and corporations win with that cut.

As for the loss of some deductions, it's not that big a deal. The personal exemption is set to double. That's just a simplification: higher personal deduction, loss of some itemized deductions.

Loss of the deduction for state and local taxes is probably a good thing. As it is, that deduction takes some of the sting out of very high taxes in some blue states, and allows those state governments to get away with what they are doing. In effect, it's transferring money from the federal government to irresponsible state governments. So if you live in Texas, Utah, or other financially responsible state, you should be cheering at that prospect. Let those states bear their own tax burden, and let the peasants revolt in those states, and elect more fiscally responsible officials. As it is, your tax dollars are shielding those officials from the consequences of their folly.

Will the cuts increase the deficit? Maybe yes, maybe no. Short of doing something sensible like reducing spending, cutting taxes will stimulate the economy and may actually result in higher tax revenues.

Guntruck50,

Maybe CA needs to cut their spending & massively cut state/local taxes. Furthermore, the House version makes the individual tax cuts permanent, too.

We Texicans passed a Constitutional amendment, long ago, that FORBIDS a state income tax. = Maybe you CA folks should DEMAND that taxes/give-away programs need trimming/abolishing OR you could stop complaining about hjow high your state/local taqxes are.

The rest of the USA doesn't want to support CA/NY/MA with OUR tax $$$$$$$$$$$$$.
(There's NO such thing as "federal aid", as it's ALL the taxpayer's money.)

y7ours, satx

When your business is in the US and you pay high corporate taxes and compete against foreign companies with low taxes who are competing with you in your US market and your govt is trying to run you out of business with govt dictated hiring and firing and workers comp requirements and your competition has benefits provided by their government you are screwed.

Our countries move overseas to survive, not for the fun of it.

Try starting up a furniture making business here with our laws and taxes and employee hiring requirements workers comp, etc and see if you can compete against a furniture co from S America, China or Mexico.

I don't think you understand just how much of the country California (and texas) subsidizes. California is the largest payer of federal tax by a considerable amount with Texas second and then it drops like a rock. Who do you think pays for every federal program in the middle of this country?