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Tax cut? by tebailey
Started on: 11-15-2020 02:29 PM
Replies: 33 (449 views)
Last post by: 2.5 on 11-20-2020 09:29 AM
tebailey
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Report this Post11-15-2020 02:29 PM Click Here to See the Profile for tebaileyClick Here to Email tebaileySend a Private Message to tebaileyEdit/Delete MessageReply w/QuoteDirect Link to This Post
If you think your tax "cut" was great, just wait till you see what the 2021 part of that Republican bill brings you .
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Report this Post11-15-2020 02:40 PM Click Here to See the Profile for steve308Send a Private Message to steve308Edit/Delete MessageReply w/QuoteDirect Link to This Post
Just wait until the socialist party, oops I mean democratic party get inaugurated /:
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tebailey
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Report this Post11-15-2020 03:36 PM Click Here to See the Profile for tebaileyClick Here to Email tebaileySend a Private Message to tebaileyEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by steve308:

Just wait until the socialist party, oops I mean democratic party get inaugurated /:


Only IF Georgia goes blue, otherwise your taxes double in 2021 and increase every year to 2027. Nice little surprise that Moscow Mitch put in the tax law.
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Report this Post11-15-2020 04:39 PM Click Here to See the Profile for maryjaneSend a Private Message to maryjaneEdit/Delete MessageReply w/QuoteDirect Link to This Post
Only to collect the payroll taxes that were deferred this year. It was never intended nor presented as a permanent tax 'cut' and was always known to simply be a deferral.
de·fer·ral
/dəˈfərəl/
Learn to pronounce
noun
a postponement of an action or event.
"they agreed to a deferral of industrial action"


 
quote
Details of Trump’s Payroll Tax Holiday
Trump’s executive order directs the secretary of the Treasury to defer some payroll tax obligations.

Any employee who is paid less than $4,000 before taxes per biweekly pay period is eligible.

The deferral period is Sept. 1 through Dec. 31, 2020.

Typically, employees and employers each pay half of the total 12.4% Social Security tax due for each worker. But under the executive order, employers may choose to refrain from withholding the 6.2% from employees for Social Security, but must still contribute their own portion for each worker.

The deferred amounts won’t incur penalties or interest, according to Trump’s order.

But guidance released by the IRS on Aug. 28 specifies that deferred payroll taxes must be repaid between Jan. 1, and April 30, 2021. Any tax that isn’t repaid within that window will be subject to interest and penalties. Employers could collect those penalties from their employees if necessary, according to the announcement.


https://www.forbes.com/advi...could-be-overturned/
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tebailey
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Report this Post11-15-2020 06:18 PM Click Here to See the Profile for tebaileyClick Here to Email tebaileySend a Private Message to tebaileyEdit/Delete MessageReply w/QuoteDirect Link to This Post
The tax cut from 2017 ends 2021, that's when your temporary cut ends, however they made sure the $1.5trillion cut for the billionaires was permanent. I was not talking about the referral. You will see a big hike in 2021 thanks to the GOP. Someone has to make up for the cuts to the upper 1% guess who that is?
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Report this Post11-15-2020 06:31 PM Click Here to See the Profile for maryjaneSend a Private Message to maryjaneEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:

The tax cut from 2017 ends 2021, that's when your temporary cut ends, however they made sure the $1.5trillion cut for the billionaires was permanent. I was not talking about the referral. You will see a big hike in 2021 thanks to the GOP. Someone has to make up for the cuts to the upper 1% guess who that is?


Thanks for the clarification. You had put 'cuts' in parenthesis so I was inferring that you were sarcastically referring to the 2019 payroll tax deferring.


I understood the 2017 tax cuts (went into effect 2018) were slated to expire in 2025 but Trump recently wanted to extend them farther than that. No?

https://www.forbes.com/site...ill/?sh=18d3f2a3254d
https://www.accountingtoday...oming-after-election

[This message has been edited by maryjane (edited 11-15-2020).]

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Report this Post11-15-2020 08:40 PM Click Here to See the Profile for randyeClick Here to visit randye's HomePageClick Here to Email randyeSend a Private Message to randyeEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:

The tax cut from 2017 ends 2021,



WRONG


HR1. 2017 actually ends on December 31, 2025 when the cuts revert back to 2017 law.

Moreover, since you have also claimed in this thread that you are not talking about the 2020 income tax deferral, that means that everything that you have alleged in this thread is completely WRONG

[This message has been edited by randye (edited 11-15-2020).]

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Report this Post11-15-2020 10:43 PM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


Only IF Georgia goes blue, otherwise your taxes double in 2021 and increase every year to 2027. Nice little surprise that Moscow Mitch put in the tax law.


The Senate cannot modify a bill passed by the House without the House approving the changes.

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Report this Post11-15-2020 11:34 PM Click Here to See the Profile for blackramsClick Here to Email blackramsSend a Private Message to blackramsEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:
Someone has to make up for the cuts to the upper 1% guess who that is?


Gosh, I thought it was to help pay for all the Social Entitlements and free stuff the Democrats came up with buying votes.........

Rams

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Report this Post11-16-2020 01:11 PM Click Here to See the Profile for tebaileyClick Here to Email tebaileySend a Private Message to tebaileyEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by blackrams:


Gosh, I thought it was to help pay for all the Social Entitlements and free stuff the Democrats came up with buying votes.........

Rams


You mean programs that help the working Americans, and not just the billionaires?
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Report this Post11-16-2020 01:28 PM Click Here to See the Profile for blackramsClick Here to Email blackramsSend a Private Message to blackramsEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


You mean programs that help the working Americans, and not just the billionaires?


Nope, I typed and said precisely what I intended to say.

Those that won't pull their own weight don't deserved any help. Get caught hiding income and don't pass go, go directly to jail and lose. Those that make less, pay less, those that make more pay more of their income.

IMHO, the only fair tax would be a flat rate tax with no loop holes or deductible items, no break for having children, you make so much money and pay a percentage of that amount in income tax regardless of what you make, everyone pays their fair share. No, if, ands or bullshit. No one should get a free ride. Charities and churches can pick up the slack.
Yeah, I'm a hard ass.

Rams

[This message has been edited by blackrams (edited 11-16-2020).]

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Report this Post11-16-2020 02:37 PM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


You mean programs that help the working Americans, and not just the billionaires?



https://www.youtube.com/watch?v=hn-1bVPcNNE

Marxism trains people to be jealous and to blame.
Talking points from leftist media / liberal politicians.

[This message has been edited by 2.5 (edited 11-16-2020).]

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Report this Post11-16-2020 02:48 PM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


You mean programs that help the working Americans, and not just the billionaires?


I doubt you realize this, but you are pretty much clueless.
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Report this Post11-16-2020 04:05 PM Click Here to See the Profile for tebaileyClick Here to Email tebaileySend a Private Message to tebaileyEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by blackrams:


Nope, I typed and said precisely what I intended to say.

Those that won't pull their own weight don't deserved any help. Get caught hiding income and don't pass go, go directly to jail and lose. Those that make less, pay less, those that make more pay more of their income.

IMHO, the only fair tax would be a flat rate tax with no loop holes or deductible items, no break for having children, you make so much money and pay a percentage of that amount in income tax regardless of what you make, everyone pays their fair share. No, if, ands or bullshit. No one should get a free ride. Charities and churches can pick up the slack.
Yeah, I'm a hard ass.

Rams



You do realize that the super rich are paying less than working families. That last $1.5 trillion cut went straight to them. You would have really hated Eisenhower, he taxed the rich up to 90%. Imagine the man in charge of operation overlord that drove the Nazis out of europe would be on the top of your list of "socialists".
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Report this Post11-16-2020 04:40 PM Click Here to See the Profile for cvxjetClick Here to Email cvxjetSend a Private Message to cvxjetEdit/Delete MessageReply w/QuoteDirect Link to This Post
The old conservatives were for lower taxes for >>ALL<< (Including the poor and middle class) and also cutting waste and fraud from the gov't budget...New "Conservatives" are for NO TAXES on the ultra rich (Especially anyone named Trump) and big spending- especially the Military which should only be used to protect major corporate interests.

Actually, in the future, the new "Conservatives" want to eliminate taxes for everyone....But the poor and middle class will then have to pay "Tribute" to lord Trump.

The liberals have always been stupid "Tax and spend"....But the new "conservatives" are "Spend and don't pay fer nuthin'"
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Report this Post11-16-2020 05:00 PM Click Here to See the Profile for randyeClick Here to visit randye's HomePageClick Here to Email randyeSend a Private Message to randyeEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


You do realize that the super rich are paying less than working families. That last $1.5 trillion cut went straight to them.




Extraordinary claims require extraordinary PROOF.

Got any?


...and NO, some dipshit, Leftist, opinion article won't cut it. Let's see objective, documented, proof of your wild claim.

[This message has been edited by randye (edited 11-16-2020).]

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Report this Post11-16-2020 05:07 PM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
Some thoughts for you. Tebailey seems to have everyone classified in their little boxes already. The persecuted and the persecutors.

I think the first thing to do is determine if you are talking about "programs" (entitlements) or taxes.

You see Trump as a lord? A dictator? His policies are pro capitalism, here is a way to classify people in boxes for you , everyone is a capitalist. Everyone everywhere.

As for "lowering" or "eliminating" taxes, "tax and spend", etc. People see taxes are being spent on the wrong things, squandered. So people want less taxes, so less are squandered. They know they'll never get to no taxes, so they strive for as little as possible. This means as much freedom as possible, as much free choice and capitalism as possible. Surely you can see the taxes wont ever decrease by much, government has too much control. What results in too much taxes is more government control to grow a larger government to give the government more control.

Check out my thread on What makes the USA so great, and my thread on Uncertain times and The history of socialism.

[This message has been edited by 2.5 (edited 11-16-2020).]

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Report this Post11-16-2020 05:21 PM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
Check this out

https://www.youtube.com/watch?v=junBJZRDFzk

[This message has been edited by 2.5 (edited 11-16-2020).]

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Report this Post11-16-2020 05:22 PM Click Here to See the Profile for williegoatClick Here to visit williegoat's HomePageSend a Private Message to williegoatEdit/Delete MessageReply w/QuoteDirect Link to This Post
The top 5% (the filthy rich) are responsible for more than half of all federal income tax revenue, and I dare say much of the wages that the rest of us make. If we (the US government) confiscate more of their wealth, who do you think will get shorted?
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Report this Post11-16-2020 07:27 PM Click Here to See the Profile for cvxjetClick Here to Email cvxjetSend a Private Message to cvxjetEdit/Delete MessageReply w/QuoteDirect Link to This Post
High end car manufacturers.....Lamborghini, Aston Martin, Rolls Royce, Bugatti, Bentley.....All have one thing in common besides high prices- They have filed numerous times for Bankruptcy protection...

Meanwhile, Ford has NEVER filed for bankruptcy....Henry Ford DOUBLED the pay for his line workers in 1914 and they then went out and bought Ford cars.........Company profits EXPLODED.....

Lesson? The "Rich are gods!!!" concept is just not completely true- investment is important, but number of sales is far more successful than "Lots 'O' profits per (Few) units sold"....Joe Public buying lots of cheap stuff is a better driver of the economy than the hyper rich "trickle down" concept...

But the new "Conservatives" whorship the hyper rich- at least their super "Hero"...born with a silver spoon........and who is a draft-dodger too, just like another phony hero of the (new) ultra-right; Marion Morrison
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Report this Post11-16-2020 10:15 PM Click Here to See the Profile for rinselbergClick Here to visit rinselberg's HomePageClick Here to Email rinselbergSend a Private Message to rinselbergEdit/Delete MessageReply w/QuoteDirect Link to This Post
Austan Goolsbee. That's "my guy" when it comes to taxes, trade and monetary policies. IF I were going to "make a play" in this discussion. Which I'm not about to do.

I like his credentials and the "cut of his jib."
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Report this Post11-16-2020 10:44 PM Click Here to See the Profile for blackramsClick Here to Email blackramsSend a Private Message to blackramsEdit/Delete MessageReply w/QuoteDirect Link to This Post
Darwin was right.

Rams
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Report this Post11-16-2020 11:20 PM Click Here to See the Profile for randyeClick Here to visit randye's HomePageClick Here to Email randyeSend a Private Message to randyeEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by williegoat:

The top 5% (the filthy rich) are responsible for more than half of all federal income tax revenue, and I dare say much of the wages that the rest of us make. If we (the US government) confiscate more of their wealth, who do you think will get shorted?


RESENTMENT is a part of the creed of Leftist / Marxist belief.

That resentment blinds them to economic realities.

They believe, shortsightedly, that gouging corporations for more and more taxes makes things more "fair" when the reality is that corporations simply pass those tax increases along to all of us.

Leftists always make lousy economists because their presumptions about are always colored by the same specious presumptions of Karl Marx.
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Report this Post11-16-2020 11:29 PM Click Here to See the Profile for MidEngineManiacSend a Private Message to MidEngineManiacEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by blackrams:


Nope, I typed and said precisely what I intended to say.

Get caught hiding income and don't pass go, go directly to jail and lose.
Rams



Stalin and Orwell proud. So would <gasp> Hitler...would be SOOOO proud

Now when you go out chopping firewood, dont fgorget to give up 1/3rd of your winters heat....

GODDAMIT, Ron...you of all people was the last I would expect to turn socialist.

Hiding income ?????? REALLY ?????

What part of what you earn is yours have you lost ?????

WOW......

Thanks, Comrade, I sold a used router on kijiji for 40 bucks. perhaps I should give 70....

*****. **** .

[This message has been edited by MidEngineManiac (edited 11-16-2020).]

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Report this Post11-17-2020 12:39 AM Click Here to See the Profile for randyeClick Here to visit randye's HomePageClick Here to Email randyeSend a Private Message to randyeEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 2.5:


Marxism trains people to be jealous and to blame.
Talking points from leftist media / liberal politicians.



To really understand Marxism you have to understand Karl Marx himself.

He was a penniless BUM that spent his entire life mooching off his rich friend Friedrich Engels who was bankrolled by his rich, capitalist, industrialist father.

Marx also fled 3 different countries under threat of imprisonment for his acts against the governments of those countries.

He was unemployed almost all of his life and had his wife help support the family.

He died in 1883, broke, bitter and still complaining and resentful about "the rich".

It is worth keeping in mind that Marx-Engels "Das Kapital" was released 100 YEARS after the United States became a country based on ideological principles exactly opposite those of Marx.

A lot of very bad political ideas have originated in Germany that have caused misery and death worldwide to the present day on a scale far beyond anything in history before those very bad ideas were conceived..

[This message has been edited by randye (edited 11-17-2020).]

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Report this Post11-17-2020 08:22 AM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by MidEngineManiac:


Stalin and Orwell proud. So would <gasp> Hitler...would be SOOOO proud

Now when you go out chopping firewood, dont fgorget to give up 1/3rd of your winters heat....

GODDAMIT, Ron...you of all people was the last I would expect to turn socialist.

Hiding income ?????? REALLY ?????

What part of what you earn is yours have you lost ?????

WOW......

Thanks, Comrade, I sold a used router on kijiji for 40 bucks. perhaps I should give 70....

*****. **** .



Private sale of used items is not considered income.
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Report this Post11-17-2020 01:35 PM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by rinselberg:

IF I were going to "make a play" in this discussion. Which I'm not about to do.

"


Because?
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Report this Post11-17-2020 02:56 PM Click Here to See the Profile for blackramsClick Here to Email blackramsSend a Private Message to blackramsEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:


You do realize that the super rich are paying less than working families. That last $1.5 trillion cut went straight to them. You would have really hated Eisenhower, he taxed the rich up to 90%. Imagine the man in charge of operation overlord that drove the Nazis out of europe would be on the top of your list of "socialists".


Try re-reading what I posted.

------------------
Rams
Intelligent people speak because they have something to say, fools speak because they have to say something.
Consider that before telling anyone what's on your mind.


My wife told me to grow up. I told her to get out of my fort!

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Report this Post11-17-2020 09:22 PM Click Here to See the Profile for rinselbergClick Here to visit rinselberg's HomePageClick Here to Email rinselbergSend a Private Message to rinselbergEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 2.5:
Because?


"Austan City Limits"

"[Austan] Goolsbee: Puzzled By 15-20 GOP Senators Not Voting For Any Relief Bill | The Last Word | MSNBC"

On-air interview with MSNBC host Ali Velshi; August 7, 2020. Just under THREE MINUTES of YouTube video content.
https://youtu.be/H5h1pskjhtM
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Report this Post11-18-2020 11:46 AM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by rinselberg:

"[Austan] Goolsbee: Puzzled By 15-20 GOP Senators Not Voting For Any Relief Bill | The Last Word | MSNBC"

On-air interview with MSNBC host Ali Velshi; August 7, 2020. Just under THREE MINUTES of YouTube video content.
https://youtu.be/H5h1pskjhtM


So just to clarify your concern is citizens (at least I hope thats all who got the checks last time) may not get more covid hand out money sent to them from the government?
That too much of it is instead going to keep employers afloat?
The speaker says he is "puzzled" by that, that it is "odd". He goes on to try and inspire jealousy. I'm not sure what he doesnt "understand".

Did you watch my 1st vid in this thread?
Here it is again
https://www.youtube.com/watch?v=hn-1bVPcNNE

[This message has been edited by 2.5 (edited 11-18-2020).]

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Report this Post11-18-2020 10:09 PM Click Here to See the Profile for blackramsClick Here to Email blackramsSend a Private Message to blackramsEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by MidEngineManiac:


Stalin and Orwell proud. So would <gasp> Hitler...would be SOOOO proud

Now when you go out chopping firewood, dont fgorget to give up 1/3rd of your winters heat....

GODDAMIT, Ron...you of all people was the last I would expect to turn socialist.

Hiding income ?????? REALLY ?????

What part of what you earn is yours have you lost ?????

WOW......

Thanks, Comrade, I sold a used router on kijiji for 40 bucks. perhaps I should give 70....

*****. **** .



MEM,
Reading comprehension is a pretty big deal. Maybe you should read what I wrote again or look up the definitions you accuse me of. Regardless, you're way off base.

Rams

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quote
Originally posted by tebailey:

You mean programs that help the working Americans, and not just the billionaires?



1 - 2018 Tax Cuts: Everyone I know now pays less taxes. I make $400 more a paycheck as a result of the tax cuts.
2 - Payroll Tax Cuts: It doesn't affect me. I'm still paying the exact same amount.

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Report this Post11-20-2020 09:29 AM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by tebailey:

"socialists".


 
quote
Originally posted by tebailey:


Americans


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