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POTUS 45.21 STAND for our great National Anthem

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Re: POTUS 45.21 STAND for our great National Anthem

FadeToBlack&Gold said:
Stupid and showing signs of dementia. That dialogue is just fugly, no matter how you slice it.
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He's not showing signs of dementia. Looking back over his statements throughout his career he has always been rock stupid. He's not losing his fastball. This is his fastball.
 
Re: POTUS 45.21 STAND for our great National Anthem

alfablue said:
Since the tax plan is a big part of the next few weeks- did anyone hear the way they plan on getting back the taxes lost by lowering the tax brackets?

By lowering what you are allowed to put into a 401k.

Seriously. Instead of limiting to 18k a year, it will go to well under $5,000. That raises a person's immediate taxable income.

Which means that people who put a very significant part of their income into their retirement will be funding the upper end who have a tax break.

Yay.
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Is this for real?
 
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Re: POTUS 45.21 STAND for our great National Anthem

Deutsche Gopher Fan said:
He's also now tweeting that the war widow is lying- this outta end well.
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"How dare you misunderstand what I was trying to convey and misconstrue it as an insult to the troops", says guy who thinks kneeling football players hate America.
 
Re: POTUS 45.21 STAND for our great National Anthem

alfablue said:
http://www.businessinsider.com/retirement-saving-401k-changes-in-trump-tax-plan-2017-10

I heard it during Morning Edition this morning, too.

edit- here's a NYT article, too. https://www.nytimes.com/2017/10/20/us/politics/republicans-tax-401-k.html

This would really suck for us- we are in the area that maxes out the contributions and do not qualify for Roth.
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It's not much of a compensation, but watching my Trumpy coworkers' retirement crash and burn will almost be worth it.
 
Re: POTUS 45.21 STAND for our great National Anthem

Two blatant lies via twitter today from POTUS, with Huckabee Sanders (has she always dropped the Huckabee there or has that name become toxic?) continuing to parrot the "average" savings of 4000.
 
Re: POTUS 45.21 STAND for our great National Anthem

alfablue said:
But you only pay taxes at the rate you take it out. And since many spend less to live on in retirement, you gain a lot by lowering your tax bracket.

Whereas a Roth, you are taxed at your income rate.

Plus, there are limits on who can actually use a Roth. Sure, most of the middle class will never see that, but that does leave people who earn up to the 401k limit as the ones who really are holding the tax burden bag.

A far better way to raise income taxes is to balance the taxes WRT source. Make unearned income equal with earned income. That will generate billions in tax revenue. Make actually working for your money the goal again. But this will never happen, as it puts more burden on people who make over $1M a year. As if they need to pay less to live on.
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Actually, a lot of retirees end up at a higher bracket in retirement, and that's because of the forced distributions. However, you raise a valid point in that there are different situations for different people, so you'd have to figure out what's best, even if it means converting at some point. Oh, and don't forget about the income limitations on contributing to a Roth, so those people with those ill gotten gains you so jealously despise aren't able to take advantage.
 
Re: POTUS 45.21 STAND for our great National Anthem

alfablue said:
A far better way to raise income taxes is to balance the taxes WRT source. Make unearned income equal with earned income. That will generate billions in tax revenue. Make actually working for your money the goal again. But this will never happen, as it puts more burden on people who make over $1M a year. As if they need to pay less to live on.
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This. Always this. All income needs to be liable for the same taxation. I would also consider raising the cap on the dollar limit as far as earnings that are liable for OASDI taxation. Right now it is something like $115,000.
 
Re: POTUS 45.21 STAND for our great National Anthem

WeAreNDHockey said:
I would also consider raising the cap on the dollar limit as far as earnings that are liable for OASDI taxation. Right now it is something like $115,000.
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Raise, hell. Uncap it. For that matter, stop collecting it as a separate vehicle and just add it into the general tax stepwise rates.
 
Re: POTUS 45.21 STAND for our great National Anthem

WeAreNDHockey said:
This. Always this. All income needs to be liable for the same taxation. I would also consider raising the cap on the dollar limit as far as earnings that are liable for OASDI taxation. Right now it is something like $115,000.
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I've been *****ing about his on this board for 16 years. It's why the tax rates on WORK, and the middle and lower classes are way more than is reported every time this "income tax" discussion comes up.
 
Re: POTUS 45.21 STAND for our great National Anthem

It's all about The Heist. It's all the GOP exists for. Guns, God, Gays? All a salt lick to get their followers to vote for them so they can go to the Hill and do what they really want.

<img src="http://i.huffpost.com/gen/2339774/thumbs/o-AFTERTAX-INCOME-570.jpg?6"></img>\

Flag will cheer them on, but that's OK, Flag's crazy.

And Fish will cheer them on, but that's OK, Fish is dumb.

But while joe won't cheer them on, he still enables them, and that really bugs me. joe's not crazy and joe's not dumb. But on this he's marching to the ballot box and making it happen just like those other two saps.

I never reached Pio or Bob, but good lord joe, just look at it objectively. Is this really the America you want to bequeath as your legacy? You are so much better than that.
 
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Re: POTUS 45.21 STAND for our great National Anthem

Kepler said:
It's all about the Heist. it's all they exist for. Guns, God, Gays? All a salt lick to get their followers to vote for them so they can go to the Hill and do what they really want.

<img src="http://i.huffpost.com/gen/2339774/thumbs/o-AFTERTAX-INCOME-570.jpg?6"></img>
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That graph really gets my dander up.
 
Re: POTUS 45.21 STAND for our great National Anthem

ScoobyDoo said:
I've been *****ing about his on this board for 16 years. It's why the tax rates on WORK, and the middle and lower classes are way more than is reported every time this "income tax" discussion comes up.
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Maybe we should completely invert it. Stop collecting taxes on work at all. Finance the entire government through capital gains and corporate taxes.
 
Re: POTUS 45.21 STAND for our great National Anthem

Kepler said:
Maybe we should completely invert it. Stop collecting taxes on work at all. Finance the entire government through capital gains and corporate taxes.
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Balance would be fine. Just stop pretending the 12%+ in payroll taxes doesn't exist. when this conversation comes up. I believe the Medicare tax is on all income, but is that taking out on Capital Gains? Doubt it.
 
alfablue said:
Since the tax plan is a big part of the next few weeks- did anyone hear the way they plan on getting back the taxes lost by lowering the tax brackets?

By lowering what you are allowed to put into a 401k.

Seriously. Instead of limiting to 18k a year, it will go to well under $5,000. That raises a person's immediate taxable income.

Which means that people who put a very significant part of their income into their retirement will be funding the upper end who have a tax break.

Yay.
Click to expand...

This only impacts the super rich though. Which is good, right?
 
Re: POTUS 45.21 STAND for our great National Anthem

Kepler said:
It's all about The Heist. It's all the GOP exists for. Guns, God, Gays? All a salt lick to get their followers to vote for them so they can go to the Hill and do what they really want.

<img src="http://i.huffpost.com/gen/2339774/thumbs/o-AFTERTAX-INCOME-570.jpg?6"></img>\
Click to expand...
Questions about the graph:

1) Why does it combine the quintiles for 21-80?
2) What's the difference between 81st-99th percentiles and "lowest quintile"? The difference is the $0 earners, so what's the point of mentioning them?
3) Why did they omit 2-20?

I want to see it all, not selective listings. That sets my BS Detector to Danger levels.
 
Re: POTUS 45.21 STAND for our great National Anthem

Awww, a bunch of lefties whining about how they can't put in the proper effort to put themselves into a position for prosperity, so they just want to steal from everyone else. I thought that was bad, until...

...the owner of the Patriots opened his big mouth and saying he doesn't want his taxes raised, thinking this is some tax cut for the rich. No, it's a tax cut ACROSS THE BOARD for the purposes of ECONOMIC GROWTH. You think your gains are so ill-gotten that you want to give them to the government? Guess what, you can already do that! You don't even have to be prompted for it! You can give it to the department that reduces the public debt, or heck, right to the US Treasury. But no, you have to be prompted, and you have to screw over anyone else that wants to become prosperous because you think it'll look good in front of the moronic have not folk that are jealous of success.
 
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