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The House GOP Tax Plan, as Briefed Today

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  • The House GOP Tax Plan, as Briefed Today

    Here are the 'winners' and 'losers' in the new GOP tax plan:

    https://www.msn.com/en-us/money/mark...cid=spartandhp

  • #2
    Funny how something that will affect many of us does not ignite any response..

    Of course, for about the 40% of people who right now do not pay federal taxes, the plan (if it passes as it is) will not make any difference, at least for most them and in the short term. Of course, if after a few years lawmakers start complain that we do not have money to pay for things like SS, medicare and so on and will point to the need of increasing payroll SS and medicare taxes , it will be mostly this 40% which will feel the pain...

    Anyway, as it is, most probably I will be affected negatively because I will not be able to claim my state taxes to reduce my fed taxes. it seems that the plan is designed in such a way that it will hit mostly blue states which tend to have higher state taxes.

    I also find interesting that corporate tax will go so low without any preconditions. It is not linked to any metric of limiting jobs outsourcing as a precondition for lower corporate taxes. So much for Trump's hardball rhetoric against companies which choose to send jobs abroad. As usual, we are willing to give free goodies to them and hope that this will persuade some "job creators" to change their current outsourcing tactics. It did not work in the past, and it is not going to work now. They will take the goodies and they will continue to ship jobs to China and Mexico...
    Last edited by pamak; 03 Nov 17, 18:31.
    My most dangerous mission: I landed in the middle of an enemy tank battalion and I immediately, started spraying bullets killing everybody around me having fun up until my computer froze...

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