Trump to Deliver One of Biggest Tax Cuts Since Reagan

[taxslave]

Now that one is true. The left wants but the also want someone else to pay for it all.

SInce the rich already pay the bulk of the taxes it is only right they would get the bulk of the tax breaks. Especially since the poor don't pay any income tax to start with.

 

[JLM]

The thread is about federal tax....don't deflect to municipal property taxes...

They all contribute to the total in the equation!

Now that one is true. The left wants but the also want someone else to pay for it all.



SInce the rich already pay the bulk of the taxes it is only right they would get the bulk of the tax breaks. Especially since the poor don't pay any income tax to start with.

That is the smartest post on this thread. Why shouldn't a guy who is shouldering $2 of the taxes get a $1 million deduction?

 

[petros]

And between federal and provincial government they get tax credits "money" without paying any tax...
I used to fill out the the tax forms for a few nursing home residents when my mother in law was still alive and living there.

Without paying income tax. They still pay PST/HST/GST/Carbon Tax Rxs Med expenses etc.

They all contribute to the total in the equation!




That is the smartest post on this thread. Why shouldn't a guy who is shouldering $2 of the taxes get a $1 million deduction?

Property tax is far far away from being Fed controlled.

 

[JLM]

Property tax is far far away from being Fed controlled.

Directly for sure!

 

[Cannuck]

The thread is about federal tax....don't deflect to municipal property taxes...

It's all connected.

The ONLY important number is the total amount of tax paid. The lower incomes pay a much higher percentage of their income to taxes.

 

[tay]

Now that one is true. The left wants but the also want someone else to pay for it all.

SInce the rich already pay the bulk of the taxes it is only right they would get the bulk of the tax breaks. Especially since the poor don't pay any income tax to start with.

If I was starting a business I would hire you and anyone else who thinks like you do...........

 

[Cannuck]

Property tax is far far away from being Fed controlled.

You're being silly again

 

[petros]

You've paid property tax to the Feds?

 

[taxslave]

It's all connected.

The ONLY important number is the total amount of tax paid. The lower incomes pay a much higher percentage of their income to taxes.

Percentage is irrelevant. It is $$$$$ that count. Your version of math is much like the dippers that claim the BC government has cut education funding when in fact it has risen every budget since 2002. When I called one of them on his alternative truth he investigated and found that the dippers were using % of GDP to base their claim on.
So if there is a 1% cut in taxes obviously the rich are going to collect the bulk of the money. ALso the poor get credit and refunds for tax paid.

 

[petros]

It's all connected.

The ONLY important number is the total amount of tax paid. The lower incomes pay a much higher percentage of their income to taxes.

Federal tax rates for 2017
15% on the first $45,916 of taxable income, +
20.5% on the next $45,915 of taxable income (on the portion of taxable income over $45,916 up to $91,831), +
26% on the next $50,522 of taxable income (on the portion of taxable income over $91,831 up to $142,353), +
29% on the next $60,447 of taxable income (on the portion of taxable income over $142,353 up to $202,800), +
33% of taxable income over $202,800.

Income tax is income tax. That is the cuts being made. Not property, not state income or sales tax but just Fed income.

 

[damngrumpy]

There is the saying there ain't no free lunch and the rich in America say that
while they are eating a free lunch. Reagan started the free ride tax reduction
and called it trickle down it lead to 2008 and now they want to go back and try
again.
America is up to its eyeballs in debt and they want to cut taxes for short term
gain. We will see what happens when the freedom wing of the Republicans
and the opposite the Democrats get finished with it.
All the Presidential Proclamations have produced little in the way of action as
most of this stuff needs congressional approval. So far the first 100 day stuff is
mere window dressing and the substantive stuff is being shot down in the courts
as it should be

 

[Cannuck]

Federal tax rates for 2017
15% on the first $45,916 of taxable income, +
20.5% on the next $45,915 of taxable income (on the portion of taxable income over $45,916 up to $91,831), +
26% on the next $50,522 of taxable income (on the portion of taxable income over $91,831 up to $142,353), +
29% on the next $60,447 of taxable income (on the portion of taxable income over $142,353 up to $202,800), +
33% of taxable income over $202,800.

Income tax is income tax. That is the cuts being made. Not property, not state income or sales tax but just Fed income.

Pointing out ridiculously obvious things doesn't make you look smart. It only gives you the illusion that you look smart.

The reality is that income tax is but one part of the entire tax system and looking at it as separate from other taxes is silly.

Percentage is irrelevant.

No it isn't

 

[Curious Cdn]

There is the saying there ain't no free lunch and the rich in America say that
while they are eating a free lunch. Reagan started the free ride tax reduction
and called it trickle down it lead to 2008 and now they want to go back and try
again.
America is up to its eyeballs in debt and they want to cut taxes for short term
gain. We will see what happens when the freedom wing of the Republicans
and the opposite the Democrats get finished with it.
All the Presidential Proclamations have produced little in the way of action as
most of this stuff needs congressional approval. So far the first 100 day stuff is
mere window dressing and the substantive stuff is being shot down in the courts
as it should be

Nothing trickled down.

 

[Cannuck]

You've paid property tax to the Feds?

No. I'm really not surprised my statement has confused you. Federal taxes and expenditures directly affect property taxes. I realize that you don't understand this. That's OK. I will add it to the list.

 

[petros]

No. I'm really not surprised my statement has confused you. Federal taxes and expenditures directly affect property taxes. I realize that you don't understand this. That's OK. I will add it to the list.

So a personal income tax cut will lower municipal property taxes because municipalities are getting a personal income tax cut too?

 

[Cannuck]

So a personal income tax cut will lower municipal property taxes because municipalities getting a personal income tax cut too?

You're so silly.

Do you actually belief the national finances don't affect municipalities? Really? You're that stupid?

 

[petros]

It took you mere minutes to pull your foot from your ass and stuff it in your mouth.

Is that a record?

You're so silly.

Do you actually belief the national finances don't affect municipalities? Really? You're that stupid?

Municipalities don't pay income tax.

 

[JLM]

It took you mere minutes to pull your foot from your ass and stuff it in your mouth.

Is that a record?

You're not suggesting he didn't have time to clean the sh*t off it first?

 

[petros]

He shits from both so what does it matter?

 

[JLM]

He shits from both so what does it matter?

Maybe you hit the nail on the head there, Pete!