Perception vs reality..... Even The NY times gets it. Tax cuts for middle class

[BOHICA]

Even the N.Y. Times gets it.

To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.

https://www.google.com/amp/s/www.nytimes.com/2019/04/14/business/economy/income-tax-cut.amp.html

Edited April 16, 2019 by BOHICA

[racer254]

8 hours ago, BOHICA said:

Even the N.Y. Times gets it.

To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.

https://www.google.com/amp/s/www.nytimes.com/2019/04/14/business/economy/income-tax-cut.amp.html

Sounds like someone we all know on this forum going on for multiple pages about how he can only deduct 10k....  I guess we all know where this comes from now, it was never from actual tax returns, that is why all his bullshit was speculation and "examples" but never real numbers.

Edited April 16, 2019 by racer254

[Edmo]

53 minutes ago, racer254 said:

Sounds like someone we all know on this forum going on for multiple pages about how he can only deduct 10k....  I guess we all know where this comes from now, it was never from actual tax returns, that is why all his bullshit was speculation and "examples" but never real numbers.

No one wants to put real numbers up. I wouldn’t either. But yeah, Slinger is sheep to all the dumb dem narratives.

[racer254]

40 minutes ago, Edmo said:

No one wants to put real numbers up. I wouldn’t either. But yeah, Slinger is sheep to all the dumb dem narratives.

Anyone that gave him the time of day, actually proved his numbers were just bullshit.  You can put the numbers down on that sheet without stating income.  I was over 10k, but only got to deduct 10k, yet I still made out in the end and paid less taxes this year than last, that is why he won't show anything but "examples"

[Mainecat]

Sorta like Trumps best in the world health care plan?

[Rod]

1 minute ago, Mainecat said:

Sorta like Trumps best in the world health care plan?

Trump is you’re president 

[Angry ginger]

i don't think anyone has claimed that the tax cuts didn't help most taxpayers.  Singer gave his personal situation where he paid more,  I gave mine and others did where they paid less.  The complaint for many with the trump tax plan is not the cut in taxes to the middle class it is the giveaway to the rich as well as signing a budget that is hundreds of billions more than we bring in further increasing the debt while giving away that money to the rich.  

[Anler]

7 minutes ago, Angry ginger said:

i don't think anyone has claimed that the tax cuts didn't help most taxpayers.  Singer gave his personal situation where he paid more,  I gave mine and others did where they paid less.  The complaint for many with the trump tax plan is not the cut in taxes to the middle class it is the giveaway to the rich as well as signing a budget that is hundreds of billions more than we bring in further increasing the debt while giving away that money to the rich.  

None of these conversations are ever productive. Americans are emotional reactionary idiots. Will argue all day and night over semantics but never once lay responsibility where it actually belongs. So I say just cheat on your taxes, be a greedy ruthless cocksucker and do what works best for you and dont worry about any "down the road" consequences. There is nothing anyone is willing to do to fix it anyway. 

[Snoslinger]

59 minutes ago, racer254 said:

Anyone that gave him the time of day, actually proved his numbers were just bullshit.  You can put the numbers down on that sheet without stating income.  I was over 10k, but only got to deduct 10k, yet I still made out in the end and paid less taxes this year than last, that is why he won't show anything but "examples"

LMFAO. i knew you didn't grasp the situation. yet you claimed you did you are a dumb liar. i gave you a perfect example to follow along and you still don't get it. 

 

[Snoslinger]

1 hour ago, racer254 said:

Anyone that gave him the time of day, actually proved his numbers were just bullshit.  You can put the numbers down on that sheet without stating income.  I was over 10k, but only got to deduct 10k, yet I still made out in the end and paid less taxes this year than last, that is why he won't show anything but "examples"

why do you need to see my specific numbers? 

[Highmark]

"Giveaway to the rich."    

It's like they are getting something that wasn't theirs to begin with or they are STILL not paying in at a higher percentage than those who make less.  

A lesson on the new tax rates.   They are still progressive.....if you make more you pay in at at higher rate.  

Edited April 16, 2019 by Highmark

[racer254]

3 minutes ago, Snoslinger said:

why do you need to see my specific numbers? 

Because your numbers are bogus.  I don't even care if they are your numbers, just show one example giving exact numbers....ie children, marriage status, home value and mortgage....everything to put right in the tax forms.  Find just one.  You are trying to use a SPECIFIC situation that might happen 1% of the time, if at all.    Everyone of those times will be due to the fact that the STATE is the problem, not the tax cuts.  The whole situation is designed to get you compliant and used to paying more and more taxes.

Edited April 16, 2019 by racer254

[Snoslinger]

2 minutes ago, racer254 said:

Because your numbers are bogus.  I don't even care if they are your numbers, just show one example giving exact numbers....ie children, marriage status, home value and mortgage....everything to put right in the tax forms.  Find just one.  You are trying to use a SPECIFIC situation that might happen 1% of the time, if at all.    Everyone of those times will be due to the fact that the STATE is the problem, not the tax cuts.  The whole situation is designed to get you compliant and used to paying more and more taxes.

no they are not bogus. i'm giving you a perfect example of someone getting fucked. now go over to that thread and i'll walk you through it, step by step, answering any questions you may have. seriously, i want you to understand it. 

[Anler]

3 minutes ago, Highmark said:

"Giveaway to the rich."    

It's like they are getting something that wasn't theirs to begin with or they are STILL not paying in at a higher percentage than those who make less.  

A lesson on the new tax rates.   They are still progressive.....if you make more you pay in at at higher rate.  

It is absolutely a give away for the rich and Trump even acknowledged that. Yeah they pay a "higher percentage" on payroll income but when you add up the other compensation vehicles they have compared to the "middle class" tax payer their overall percentage is far less. 

[Sleepr2]

19 minutes ago, Highmark said:

"Giveaway to the rich."    

It's like they are getting something that wasn't theirs to begin with or they are STILL not paying in at a higher percentage than those who make less.  

A lesson on the new tax rates.   They are still progressive.....if you make more you pay in at at higher rate.  

Pathetic, isn’t it.

 

 

[Highmark]

12 minutes ago, Anler said:

It is absolutely a give away for the rich and Trump even acknowledged that. Yeah they pay a "higher percentage" on payroll income but when you add up the other compensation vehicles they have compared to the "middle class" tax payer their overall percentage is far less. 

Bullshit.   That chart I provided is all income.   

[Snoslinger]

14 minutes ago, Anler said:

It is absolutely a give away for the rich and Trump even acknowledged that. Yeah they pay a "higher percentage" on payroll income but when you add up the other compensation vehicles they have compared to the "middle class" tax payer their overall percentage is far less. 

just like many corporations. on paper, vs reality, are two different things. 

[Anler]

Just now, Highmark said:

Bullshit.   That chart I provided is all income.   

Well even in my amoebic like in comparison income I am able to do far better than most moderate income peers. But what is this guy doing to get his so low? Maybe you should show him your chart. 

Quote

In a challenge to the GOP presidential candidate in August, the Oracle of Omaha had promised to release his tax information if Trump released his own returns. Trump has so far refused to do so, but Buffett decided to make his personal returns public after the politician brought them up during Sunday’s presidential debate. In short, Buffett paid $1.8 million in federal income taxes in 2015 on about $11.6 million in income, for a rate of just under 16%.

 

[Anler]

10 minutes ago, Snoslinger said:

just like many corporations. on paper, vs reality, are two different things. 

I dont think I would hire Highmark to be my tax planner. 

[racer254]

39 minutes ago, Snoslinger said:

just like many corporations. on paper, vs reality, are two different things. 

Yes, paper vs reality are a real eye opener.  Your "examples" are not REALITY.  Get it.

[Highmark]

48 minutes ago, Anler said:

Well even in my amoebic like in comparison income I am able to do far better than most moderate income peers. But what is this guy doing to get his so low? Maybe you should show him your chart. 

 

Jesus you need this explained again?

When you own C-Corps its income and taxes do not show up on your personal return.  Buffett pays himself a very modest salary (like $100K) and makes most of his income thru long term capital gains and distributions.   As comparison to someone who owns an S-Corp where all its income shows up on your individual taxes.   For a fair comparison you would need to add what Buffett's C-corps pay in taxes to his return (as well as income) based on the percentages owned.  

Do others take advantage of this?   Of course but when you add in all the top 1% (or even top .1% if you go to the link) as did in the IRS chart the numbers are still accurate.  Overall the wealthy pay a far larger percentage of income taxes.  People like Buffett water the statistics down but as you can see the wealthy still pay a higher overall percentage as they are included in the chart.  

https://www.barrons.com/articles/warren-buffetts-nifty-tax-loophole-1428726092

Edited April 16, 2019 by Highmark

[Anler]

1 minute ago, Highmark said:

Jesus you need this explained again?

When you own C-Corps its income and taxes do not show up on your personal return.  Buffett pays himself a very modest salary (like $100K) and makes most of his income thru long term capital gains and distributions.   As comparison to someone who owns an S-Corp where all its income shows up on your individual taxes.   For a fair comparison you would need to add what Buffett's C-corps pay in taxes to his return (as well as income) based on the percentages owned.  

Do others take advantage of this?   Of course but when you add in all the top 1% (or even top .1% if you go to the link) as did in the IRS chart the numbers are still accurate.  Overall the wealthy pay a far larger percentage of income taxes.  People like Buffett water the statistics down but as you can see the wealthy still pay a higher overall percentage as they are included in the chart.  

 

No i dont need it explained... 

[Snake]

3 minutes ago, Anler said:

No i dont need it explained... I'll believe what I damn well want.

[Anler]

2 minutes ago, Snake said:

I suppose you are going to explain my taxes to me also? 

[steve from amherst]

6 hours ago, Anler said:

None of these conversations are ever productive. Americans are emotional reactionary idiots. Will argue all day and night over semantics but never once lay responsibility where it actually belongs. So I say just cheat on your taxes, be a greedy ruthless cocksucker and do what works best for you and dont worry about any "down the road" consequences. There is nothing anyone is willing to do to fix it anyway. 

x2 , you may have been being sarcastic. Im not.