President Trump's largest tax cut in history

[Skinny Tire AH]

So.....

Both ways? Let's be "objectively" consistent.

Discuss.

 

[RodnJen]

It wasn’t a tax cut for me or anyone like me. By me I mean a w-2 employee with what were substantial SALT deductions. On the other end, the stock buy backs likely contributed to the returns of my retirement plans.

 

[LargeOrangeFont]

It wasn’t a tax cut for me or anyone like me. By me I mean a w-2 employee with what were substantial SALT deductions. On the other end, the stock buy backs likely contributed to the returns of my retirement plans.

So you are happy then, as your desire is to pay more in taxes.

This W-2 employee did get a tax cut.

@nganga,

We already know this will devolve to Gmac regurgitating, cutting and pasting flawed links, and 530 (in essence) asking “trumpkins” if they still beat their wives with his 1 dimensional “conservative” litmus tests.

Given that what do you want to get out of this thread?

 

[Bobby V]

So.....

Both ways? Let's be "objectively" consistent.

Discuss.

I gained a little in my weekly check but lost some deductions. Probably came out even.

 

[wallnutz]

So you are happy then, as your desire is to pay more in taxes.

This W-2 employee did get a tax cut.

@nganga,

We already know this will devolve to Gmac regurgitating, cutting and pasting flawed links, and 530 (in essence) asking “trumpkins” if they still beat their wives with his 1 dimensional “conservative” litmus tests.

Given that what do you want to get out of this thread?

You just saved 30 post.

I for one am enjoying my tax cut, my cpa says we are saving a good amount. We had to get a little creative with my wife’s write offs, but it is working for us. Also it looks like both my adult kids are saving some too, but will know better at tax time.

 

[Skinny Tire AH]

So you are happy then, as your desire is to pay more in taxes.

This W-2 employee did get a tax cut.

@nganga,

We already know this will devolve to Gmac regurgitating, cutting and pasting flawed links, and 530 (in essence) asking “trumpkins” if they still beat their wives with his 1 dimensional “conservative” litmus tests.

Given that what do you want to get out of this thread?

Come now LOF, give me more credit than that.

My point; The leftists in here complaining about Trumps Tariffs were equivalent to one of the largest tax increases on Americans, in history.

Therefore, to be “logically and objectively consistent “ Trump/China agreeing to roll back tariffs, would necessarily be a “Tax Cut”.

What’s that about “Consistency and hobgoblins”?

Can’t have it both ways.

 

[Grandpa mac]

Come now LOF, give me more credit than that.

My point; The leftists in here complaining about Trumps Tariffs were equivalent to one of the largest tax increases on Americans, in history.

Therefore, to be “logically and objectively consistent “ Trump/China agreeing to roll back tariffs, would necessarily be a “Tax Cut”.

What’s that about “Consistency and hobgoblins”?

Can’t have it both ways.

Sure, in the same sense that if you shoot someone (on 5th Avenue) but then apply pressure to the wound and call 911 you deserve credit for saving their life.

 

[SNiC Jet]

We already know this will devolve to Gmac regurgitating, cutting and pasting flawed links,.....

...and in record time!!!​

 

[was thatguy]

To be honest here, I got hammered. I lost my 1099 status, all my deductions, AND have to file single this year.
Im in the worst possible position given the new structure.

 

[boatdoc55]

The left or "never Trumpers" will whine about ANYTHING DJT does and could give a flying frick about ANYBODY on the right. We on the right with BRAINS, will ALWAYS be scorned by the left as we are just plain old stupid, deplorable rednecks wanting to live in the USA that we grew up knowing and what made it GREAT.

 

[530RL]

Trump’s tax cut was not the largest in history. Tax cuts are typically measured as a percentage of GDP and when measured this way his tax cut was the 8th largest in history, less than two tax cuts under Obama.

Given he had majorities in both the House and the Senate, he could of accomplished tax reform, as opposed to tax cuts; something most economists and most people both right and left believe is necessary for our changing economy.

Regardless of which party is doing it, tax cuts without corresponding spending cuts are liberal, big government run amok.

The first thing Democrats will attempt to push through with help from blue state republicans post Trump, will be the return of the deductibility of state and local taxes exacerbating Trump’s highly liberal and very harmful choice to fully embrace runaway spending, deficits and debt.

Objectively, politics is like cheering for your favorite sports game. We are good, they are bad. So naturally prior to Trump, Obama was bad to some and good to others. Now that Trump is President, like all games, the teams change direction of play at halftime.

And once Trump is gone, the teams will change direction of play once again.....And heaven help anyone who is consistent about principles, as opposed to team.

 

[Skinny Tire AH]

I believe my thread missed its mark. This thread isn’t about the tax cut. It’s about Trump/China agreeing to remove tariffs.

The tariffs were called “tax increases on Americans”

So tariffs gone or lowered , would equate tax decrease, in a logical world.

 

[LargeOrangeFont]

Come now LOF, give me more credit than that.

My point; The leftists in here complaining about Trumps Tariffs were equivalent to one of the largest tax increases on Americans, in history.

Therefore, to be “logically and objectively consistent “ Trump/China agreeing to roll back tariffs, would necessarily be a “Tax Cut”.

What’s that about “Consistency and hobgoblins”?

Can’t have it both ways.

It was not a slight at you.. it is just that we both know how these these eventually pan out

 

[530RL]

I believe my thread missed its mark. This thread isn’t about the tax cut. It’s about Trump/China agreeing to remove tariffs.

The tariffs were called “tax increases on Americans”

So tariffs gone or lowered , would equate tax decrease, in a logical world.

To the extent they are actually removed, you would be correct, they would be a tax cut reversing a tax increase.

Such tax cut without a corresponding cut in expenditures would also in a logical world, lead to higher debt and deficits.

 

[Skinny Tire AH]

It was not a slight at you.. it is just that we both know how these these eventually pan out

No offense taken. I agree they will either ignore, or somehow obfuscate;

Tariffs = Tax increases

But...

Lowered or removed tariffs do not = Tax decreases.

 

[Grandpa mac]

...and in record time!!!​

Except that I haven’t posted a link in this thread, have I. Nice attention to detail. But am I apologizing for posting source information? Of course not. That’s what you do when you have facts to support your argument and it is the expectation in every intellectual discipline that you cite references to give credit where it’s due and allow the reader to dig deeper. Some day pick up a book, one that doesn’t have pictures, and look in the back. You may find a whole section of other works referenced. It’s gonna blow your mind.

 

[Grandpa mac]

To be honest here, I got hammered. I lost my 1099 status, all my deductions, AND have to file single this year.
Im in the worst possible position given the new structure.

The honesty is refreshing, sorry it hit you in the wallet. Personally I probably benefitted slightly (a couple hundred bucks) from the changes in tax law. What horrified me is that for those few dollars I got, literally trillions are added to the debt over the next decade.

 

[Grandpa mac]

I believe my thread missed its mark. This thread isn’t about the tax cut. It’s about Trump/China agreeing to remove tariffs.

The tariffs were called “tax increases on Americans”

So tariffs gone or lowered , would equate tax decrease, in a logical world.

Nope, got it. See my post #7 if you’ve taken me off ignore long enough to read the “leftist” response.

 

[was thatguy]

The honesty is refreshing, sorry it hit you in the wallet. Personally I probably benefitted slightly (a couple hundred bucks) from the changes in tax law. What horrified me is that for those few dollars I got, literally trillions are added to the debt over the next decade.

It’s a situation I’ve never been in.
As a higher 1099 earner I always had mortgage interest and at least 30% business write offs on top of that.

As a younger man I made less (W2) and took standard deductions, married, with child care credits.
When I started making substantial 6 figures it was married, and 1099.

My income now is in the worst hit zone. Low 6 figures, on a W2, and now single.
It mirrors most of the drillers and rig managers situations. My solution, and what I’ve been trying real hard to accomplish, is to get in a different outfit as a 1099 hired gun.
It would be higher income (based on a day rate instead of hourly) and would put me in a good position to expense dump >30% off the top.

The reason I accepted this offer 2 years ago was because I knew I’d be at home a lot seeing Deb out, and I needed the bennies of full time “employee”. In addition it didn’t cost the company anything to retain me while not working. (They held one check to keep my Ins active)

But now I don’t need that security.
Problem is that, like always it seems, there isn’t a lot of opportunity until after the new year when drilling budgets are set.

 

[SNiC Jet]

Except that I haven’t posted a link in this thread, have I. Nice attention to detail. But am I apologizing for posting source information? Of course not. That’s what you do when you have facts to support your argument and it is the expectation in every intellectual discipline that you cite references to give credit where it’s due and allow the reader to dig deeper. Some day pick up a book, one that doesn’t have pictures, and look in the back. You may find a whole section of other works referenced. It’s gonna blow your mind.

Nice try.......but your "regurgitation" of nonsense was a qualifier and is very abundant....thus Worthy of LOF being the #1 Winner....and thanks to you.....in record time!

Thus...the qualifying post ...

Sure, in the same sense that if you shoot someone (on 5th Avenue) but then apply pressure to the wound and call 911 you deserve credit for saving their life.

 

[Grandpa mac]

Nice try.......but your "regurgitation" of nonsense was a qualifier and is very abundant....thus Worthy of LOF being the #1 Winner....and thanks to you.....in record time!

Thus...the qualifying post ...

All I regurgitated was a reference to a Trump quote. And yes, it tasted like vomit coming out of my mouth.

 

[LargeOrangeFont]

All I regurgitated was a reference to a Trump quote. And yes, it tasted like vomit coming out of my mouth.

That’s the same taste MSN and CNN have in their mouth when they vomit into your brain.

 

[SNiC Jet]

All I regurgitated was a reference to a Trump quote. .....

LMAO.....you can only regurgitate something you first swallowed....
Is that mean ol' Mr Trump force feeding you or did you swallow his bait freely on your own?

 

[Grandpa mac]

LMAO.....you can only regurgitate something you first swallowed....
Is that mean ol' Mr Trump force feeding you or did you swallow his bait freely on your own?

View attachment 815183

It sort of got in like a big disgusting spider crawling into my mouth as I slept.

 

[SKIDMARC]

I'm a little torn. I didn't vote for Trump. I think he is just an ass and terrible representation of our country as a person and politician. But I also think he is a product of terrible options for politicians.

With that said, I am a registered democrat but don't agree with everything they do nor do I agree with all of the republicans, I guess I'm in the middle so maybe more of an independent.

But the last 5 years have been good to me financially. This year when I did my taxes for 2018 I took home more on my check every week, paid less taxes and got a better tax return. And I made more money than the year before.

So for me, I like the change with the taxes. But I know some people who work from home got screwed.

 

[t&y]

My partners that play with their withholdings constantly and expect a big return every year got screwed. I go exempt for a few months a year then claim my wife and kids for the majority. We came out with a smaller return, but right where we should be to keep my money in my pocket all year long instead of some government coffer.

 

[regor]

I'm a little torn. I didn't vote for Trump. I think he is just an ass and terrible representation of our country as a person and politician. But I also think he is a product of terrible options for politicians.

With that said, I am a registered democrat but don't agree with everything they do nor do I agree with all of the republicans, I guess I'm in the middle so maybe more of an independent.

But the last 5 years have been good to me financially. This year when I did my taxes for 2018 I took home more on my check every week, paid less taxes and got a better tax return. And I made more money than the year before.

So for me, I like the change with the taxes. But I know some people who work from home got screwed.

Check off another vote for Donnie!!!!!!

BTW, don't tell Juicy you whooped up on me in FF.