(12-06-2017 12:11 PM)BobL Wrote:  

(12-06-2017 10:23 AM)Dasville Wrote:  Just saying.

Depending on what happens during reconciliation ill either pay a little more or alot more in taxes.

I currently file as HOH with one dependent. That puts me in the 25% bracket, with two exemptions plus mortgage interest, property tax and charitable deductions as itemized deductions. My total itemized deductions are around 24k add the personal exemptions of 8k, thats 32k I am able to write off my gross.

As i understand the 2 bills

Under the House plan I lose property taxes and personal exemptions, which takes me from 32 K to 17K, tax rate stays at 25%.

Under Senate plan I lose personal exemptions which takes me from 32K to 24, tax rate goes to 24%.

Think you need to dig a bit further into your understanding.

(12-06-2017 03:42 PM)JMUDunk Wrote:  

(12-06-2017 12:11 PM)BobL Wrote:  

(12-06-2017 10:23 AM)Dasville Wrote:  Just saying.

Depending on what happens during reconciliation ill either pay a little more or alot more in taxes.

I currently file as HOH with one dependent. That puts me in the 25% bracket, with two exemptions plus mortgage interest, property tax and charitable deductions as itemized deductions. My total itemized deductions are around 24k add the personal exemptions of 8k, thats 32k I am able to write off my gross.

As i understand the 2 bills

Under the House plan I lose property taxes and personal exemptions, which takes me from 32 K to 17K, tax rate stays at 25%.

Under Senate plan I lose personal exemptions which takes me from 32K to 24, tax rate goes to 24%.

Think you need to dig a bit further into your understanding.

It shouldn’t be a secret! It should be postcard simple.

(12-06-2017 12:12 PM)Fitbud Wrote:  

(12-06-2017 11:48 AM)Bull_Is_Back Wrote:  

(12-06-2017 10:40 AM)Fitbud Wrote:  The difference here is that Obamacare had no control over the premiums. That comes from the insurance providers and not the government.

In the case of the Trump tax reform, it's a redistribution of wealth to the richest Americans that is set in stone. Law.

You are completely of ignorant of how insurance premiums are set if you don't think forcing providers to provide specific services don't drive premiums.

Of course forcing providers to provide specific coverage is going to drive premiums but it isn't the government directly changing the premiums. It is the insurance companies adjusting to what they are required to provide and adjusting their premiums accordingly. Even when doing that, insurance premiums went up more slowly than at anytime since 1960.

Sure enough.

Mine was not only cancelled again, for the 6-7th time in so many years, my monthly went up 700+ bucks per.

You've got this thing nailed. Bravo. /rollseyes

(12-06-2017 03:42 PM)JMUDunk Wrote:  

(12-06-2017 12:11 PM)BobL Wrote:  

(12-06-2017 10:23 AM)Dasville Wrote:  Just saying.

Depending on what happens during reconciliation ill either pay a little more or alot more in taxes.

I currently file as HOH with one dependent. That puts me in the 25% bracket, with two exemptions plus mortgage interest, property tax and charitable deductions as itemized deductions. My total itemized deductions are around 24k add the personal exemptions of 8k, thats 32k I am able to write off my gross.

As i understand the 2 bills

Under the House plan I lose property taxes and personal exemptions, which takes me from 32 K to 17K, tax rate stays at 25%.

Under Senate plan I lose personal exemptions which takes me from 32K to 24, tax rate goes to 24%.

Think you need to dig a bit further into your understanding.

Explain oh wise one...

Other than both plans now allow for property tax deductions what am I missing? I will still itemize and I will lose 8k in write offs with the elimination of the personal exemptions.

(12-06-2017 03:29 PM)stinkfist Wrote:  

(12-06-2017 03:23 PM)DaSaintFan Wrote:  

(12-06-2017 10:29 AM)Fitbud Wrote:  They will. Not right away however. They want you to think you got a good deal so you can vote Republican again in the next election. Over time however, you will be right back to where you started as the tax cuts on the middle class will expire and the taxes on the rich will be permanent.

They will go back up if that "sunset date" is allowed to stand in the Senate Bill (Year 2022?) on -everyone- (not just the lower tiers).

I believe the House version does not have an sunset date on the tax cuts, so a new law has to be written to raise the taxes back up.

If they agree to the Senate version of that I think a lot of people are going to be PISSED off at the Republicans.

^^^^^

It's one of those rules of the Senate. Same thing happened under Bush and those have been renewed every five- ten years since. They can do the same thing here.

Otherwise they need to pass either version with the 60 votes and we know that's not gonna happen. Ever.

this is how the Senate is able to pass basically anything.

Don't be mad, Bro.

(12-06-2017 03:48 PM)BobL Wrote:  

(12-06-2017 03:42 PM)JMUDunk Wrote:  

(12-06-2017 12:11 PM)BobL Wrote:  

(12-06-2017 10:23 AM)Dasville Wrote:  Just saying.

Depending on what happens during reconciliation ill either pay a little more or alot more in taxes.

I currently file as HOH with one dependent. That puts me in the 25% bracket, with two exemptions plus mortgage interest, property tax and charitable deductions as itemized deductions. My total itemized deductions are around 24k add the personal exemptions of 8k, thats 32k I am able to write off my gross.

As i understand the 2 bills

Under the House plan I lose property taxes and personal exemptions, which takes me from 32 K to 17K, tax rate stays at 25%.

Under Senate plan I lose personal exemptions which takes me from 32K to 24, tax rate goes to 24%.

Think you need to dig a bit further into your understanding.

Explain oh wise one...

Other than both plans now allow for property tax deductions what am I missing? I will still itemize and I will lose 8k in write offs with the elimination of the personal exemptions.

Nah, just catching up. I get what you're situation is better, now.

Esp the high prop tax thing, that's gonna bite some for sure. And i took it to mean "one dependent" as You, a Spouse AND one kid.

You got a better handle on your gig than I, for sure.

M'bad!

(12-06-2017 10:40 AM)Fitbud Wrote:  

(12-06-2017 10:35 AM)UTSAMarineVet09 Wrote:  

(12-06-2017 10:29 AM)Fitbud Wrote:  They will. Not right away however. They want you to think you got a good deal so you can vote Republican again in the next election. Over time however, you will be right back to where you started as the tax cuts on the middle class will expire and the taxes on the rich will be permanent.

sounds like oblundercare and premiums....

The difference here is that Obamacare had no control over the premiums. That comes from the insurance providers and not the government.

In the case of the Trump tax reform, it's a redistribution of wealth to the richest Americans that is set in stone. Law.

The reality is that the Obama administration willingly and knowingly lied to the American people when they told us our premiums would DECREASE.

Do I need to post the Gruber videos again?

It is a free country and you get to vote for whoever you want to for whatever reason you have.

(12-06-2017 03:54 PM)JMUDunk Wrote:  

(12-06-2017 03:29 PM)stinkfist Wrote:  

(12-06-2017 03:23 PM)DaSaintFan Wrote:  

(12-06-2017 10:29 AM)Fitbud Wrote:  They will. Not right away however. They want you to think you got a good deal so you can vote Republican again in the next election. Over time however, you will be right back to where you started as the tax cuts on the middle class will expire and the taxes on the rich will be permanent.

They will go back up if that "sunset date" is allowed to stand in the Senate Bill (Year 2022?) on -everyone- (not just the lower tiers).

I believe the House version does not have an sunset date on the tax cuts, so a new law has to be written to raise the taxes back up.

If they agree to the Senate version of that I think a lot of people are going to be PISSED off at the Republicans.

^^^^^

It's one of those rules of the Senate. Same thing happened under Bush and those have been renewed every five- ten years since. They can do the same thing here.

Otherwise they need to pass either version with the 60 votes and we know that's not gonna happen. Ever.

this is how the Senate is able to pass basically anything.

Don't be mad, Bro.

I easily get it.....I simply don't have to like it.....regardless, it's better than anything the dippos would EVER offer....

no way I ditch the ® at this point....if that were to happen, I would agree my dementia was fully embedded