BEWARE of the TAX Increase disguised as a tax cut

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BEWARE of the TAX Increase disguised as a tax cut

Postby skeeter » Thu Nov 09, 2017 7:32 am

Better do some math and see how badly the Feds are getting ready to screw you with their lies about the tax plan they are proposing to change. Tax brackets may get lowered but loss of certain deductions will not be offset by the lowered brackets nor the increase in the standard deduction....... :evil:

Your NET tax liability will almost certainly go up when you lose deductions for State Tax, Real Estate tax (that's the latest from the Senate), Sales Tax, and how Seniors will lose Medical expense deductions for costs exceeding the current limit of anything over 7.5% of AGI.

Just amazing how this Brady-clown who is the head of the Ways and Means committee can sit there and lie with a straight face about how they are going to hose us. Don't say you weren't warned.
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Re: BEWARE of the TAX Increase disguised as a tax cut

Postby FAADAN » Fri Nov 10, 2017 4:05 pm

I'm not amazed at all. All of these establishment Republicans are in it for themselves and their donors and no one else.
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Re: BEWARE of the TAX Increase disguised as a tax cut

Postby skeeter » Sun Nov 12, 2017 8:17 am

Didn't think this "Tax Reform" crappola could get worse but it just did. Now the morons want to eliminate the deduction(s) for Charitable Giving too :evil:

Can you imagine not only the impact on increasing Individual Citizen's taxes but the horrible negative effect this will have on deserving Charities of all kinds ? This obscene excuse for "Tax Reform" has got to be stopped or everyone will suffer financially except for the very wealthy. Those with high medical expenses are going to be wiped out and it's not just limited to Seniors.
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Re: BEWARE of the TAX Increase disguised as a tax cut

Postby Mack » Sun Nov 12, 2017 3:43 pm

skeeter wrote:Didn't think this "Tax Reform" crappola could get worse but it just did. Now the morons want to eliminate the deduction(s) for Charitable Giving too :evil:

Can you imagine not only the impact on increasing Individual Citizen's taxes but the horrible negative effect this will have on deserving Charities of all kinds ? This obscene excuse for "Tax Reform" has got to be stopped or everyone will suffer financially except for the very wealthy. Those with high medical expenses are going to be wiped out and it's not just limited to Seniors.


We haven't been able to file a long form in years, just don't have enough deductions, which iI suppose is good. Eliminating charitable deductions was something Obama talked about doing, so I'm surprised the repubs want to go this direction. The dems feel the gov. can help more people with your money than you can.
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Re: BEWARE of the TAX Increase disguised as a tax cut

Postby PapaJohn » Sat Nov 18, 2017 7:29 am

Based on what I’ve seen so far the GOP plan is targeted to benefit their big donors, high net worth/income households (included here are large family farms with lots of RE to pass down....another segment of the rural GOP base) and large corporations, which is their biggest donor base, so why be surprised at that? At this point I think all this will go down in flames in the Senate as no Dems will support and 2-3 GOPs will vote NO. As usual gridlock is good, sad but true.
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Re: BEWARE of the TAX Increase disguised as a tax cut

Postby skeeter » Sat Nov 18, 2017 8:46 am

Yes, particularly in this case "gridlock is good".

The NET effects of this disguised "Tax Reform" for most is just horrible. Those with dependent children lose the deduction, for instance, that they can take whether they are able to itemize or not. Those with high Medical Expenses are going to be wiped out and the rest of us will wind up paying more tax after losing numerous deductions that will NOT be offset by the relatively small increase in the standard deduction.

If the swamp dwellers in the Senate vote along Party lines like the House did, we are going to be hosed.

Those tax preparers who have actually sat down and done comparative calculations are warning about this mess. I went into my HR Block tax software and played with it to reflect the Tax Reform rules vs. the current complicated tax code and the results were much, much more tax paid.

Now, the States like Missouri are jumping in and stating what a disaster for the State budget this Tax Reform is going to be so get ready for higher State Taxes too...eventually.

Reading on-line comments on any Internet news articles ( for what those are worth ) shows people are squarely opposed to this rip-off and yet the swamp continues to push it because they know they will be getting even more of our money in the end.
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