- Joined
- Feb 5, 2017
- Messages
- 116
Looks like I would probably come out pretty good so it probably won't happen
Sent from my XT1650 using the svtperformance.com mobile app
Sent from my XT1650 using the svtperformance.com mobile app
Will you win or lose under new tax plan?
- Thread starter Never_Enough
- Start date
the vast majority of the items you mentioned are not funded from federal taxes. Most of those occur at the state and local level. Both my parents are teachers BTW.
The 2 biggest items that are actually covered by fed taxes are social/entitlement programs/welfare and defense. Government social programs are proven to make communities dependent and much worse off than before. In addition there is a good amount of individuals who commit outright fraud or just work the system. There are literally 10s of thousands of charitable organizations, churches, none profits that could feed and house the poor more efficiently than the feds.
Unfortunately a large portion of the defense budget is not spent on US military personnel but in rebuilding efforts in iraq and afghanistan or whatever hellhole we recently blowed up. The other half of the money goes to private security and defense contractors.
We absolutely do not need federal income taxes at the individual level. The economy would grow much faster if people were buying homes and vehicles instead of having a third of their paychecks swindled.
An excellent post right here. ^^^
"I think we have more machinery of government than is necessary, too many parasites living on the labor of the industrious."
-Thomas Jefferson, Letter to William Ludlow, September 6, 1824
Ok, you and I are on the same page.
Going strictly by the calculator(which has been updated to the final plan) it's a push to slight win but looking at their calculations for SALT shows that his numbers are about half what actually comes out and I deduct today. Accounting for that extra money actually pushes us into the lose category by a couple hundred $$.
Vote to change your state and local taxes. We have no state income tax, so for sure a win over here.
People like to compare us to Germany or other nations. It is a simplistic comparison.
Their nation is just a bit larger than Utah if my old memory is correct and that may be a cold war estimate.
So for them to apply their taxes to a smaller population in a single state makes it much easier to secure and establish an amazing system of transport. The VAT here would never be uniform in the US because the idea of taxing all sales equally is unfair to the poor. Or tye idea of making the poor work several hours a day to get govt welfare is cruel in our system.
Basically the middle class get hosed making the system move along and make the poor feel cozy in their poverty. That is a system of slavery that we now accept to the point it is cooler to be hustling in the hood than busting your ass in the burbs.
Sent from my hairy pimpled buttocks using the svtperformance.com mobile app
It would be nice to keep more of my income so I can pay for the god forsaken student loans I have. Lord knows student loans are the worlds biggest bubble of debt hanging over the next generation of middle class. And if those don't get addressed, we will all end up poor. Especially since they don't go away with bankruptcy.
Lol, how does this get addressed? People need to pay their bills. I paid off my student loans a few years ago when I was around 30.
Sent from my SM-G950U1 using Tapatalk
Your student loans will make those of us who have none poor?
What we need is to return to the system of good paying jobs that do not require a degree. I would not expect workers to be paid like executives or company owners and managers but to be able to raise a family and or live with ones head held high no matter how they lived. But living within ones means is always a challenge.
As much shit as I have given unions over the years they do seem to fight for their members. I just wish they were not a politcal arm of a political party during the election cycle, as much as I wish others would stay out of it.
Sent from my hairy pimpled buttocks using the svtperformance.com mobile app
CNN also has a calculator and it has me winning at about the same level as the calculator posted by the OP. Simply put, in my tax bracket with my situation (married, two kids, income level, etc.) I stand to gain 3.6-3.9% of my after tax income over the next ten years. Then it shifts where if I am still in the exact same spot ten years from now my after tax income would decrease by 0.3%. Sounds like the middle class could get a needed boost off of this tax plan. No wonder people are skeptical. 
Exactly. I have worked at a university for the past 15 years and I wonder why some of the kids going to school are even there. There has to be a better path for those who are not cut out for college or don't have a desire to go. Trades and other options are there and I don't know why more people don't take advantage of them. Try getting a electrician out to your house by just cold calling them...not gonna happen. Same with plumbers and other skilled trades. There is a huge need for people to perform skilled labor that doesn't take a college degree.
On the point of student loans. I'm 41 and my wife and I just paid ours off about a year ago. I have a bachelor's and master's degree and she has a bachelor's. We worked throughout college and worked full-time during the summers and winter breaks. We also were smart about where we went to school (quality public university in our own state) and didn't live lavishly while we were in college. I know a lot has changed since we graduated in 2000, but you can limit debt by being financially smart. I have a 30 year old nephew who went to the local university and lived at home while going to college and he racked up $43K in loans. LOL
I co signed on my step sons loan. He failed to make payments and I sucked up a 12K bill and paid off in a couple months. Now he has a ****ed up credit and the gravy train is over. This was after I paid cash for his car.
I love helping people, especially those I care for. But when you get shit on it makes you a colder soul.
Sent from my hairy pimpled buttocks using the svtperformance.com mobile app
I agree. I would've considered going Skilled labor if I was given a second chance at choices. But I was kind of pigeonholed into the choice as either "take what ya got kid, or try for more with loans".
Luckily it's paid off well so far having my BA, but there was a great article speaking to the harsh reality of this up and coming generation. A huge number of us (hopefully not myself) will be 30, 40, 50 years old still dealing with student loans unable to spend that monthly income on cars, homes, retail items etc. Therefore, less money will be inserted into the economy and spending will be curtailed.
It's something to consider when you suck up 200-1000 dollars of income from a family. Luckily my loans are about the price of a terminator, but the folks I know with way more haven't gone out and purchased new cars, homes, or anything. They can't afford too.
Luckily it's paid off well so far having my BA, but there was a great article speaking to the harsh reality of this up and coming generation. A huge number of us (hopefully not myself) will be 30, 40, 50 years old still dealing with student loans unable to spend that monthly income on cars, homes, retail items etc. Therefore, less money will be inserted into the economy and spending will be curtailed.
It's something to consider when you suck up 200-1000 dollars of income from a family. Luckily my loans are about the price of a terminator, but the folks I know with way more haven't gone out and purchased new cars, homes, or anything. They can't afford too.
It gets addressed by tax breaks. In Texas at least, big oil used to get fat tax breaks from their donations to public institutions. It cost my dad like $250 a semester in college if i remember correctly, until the Dems decided the "big corporations" didn't need those tax breaks.
I'm currently working full time with my first degree and going to school one class a semester for a second degree. Just one class a semester costs me over $1000 at a public state university ... Even if you account for inflation, my dad's semester would cost $650 ish in today's money. College is just ridiculously expense now, just my tuition and books will cost me like $35k - $40k give or take.
People do need to pay their bills, but it cant be denied that 20 somethings (i'm 26) are paying a hell of a lot more for the same things.
Solution: constrain loans by 20% and watch universities figure out how to lower rates. Would probably help trades too.
Sent from my SM-G950U1 using Tapatalk
Operating costs at universities are very high. Its not easy to cut costs. The biggest issue (IMO since I work at a university) is the cost of personnel, specifically faculty. I understand that faculty are incredibly integral, just like a school can't exist without teachers, but the amount of money these folks make is beyond ridiculous. I work at a Big Ten University and there are faculty in the school I work in that make $300-$400k.
Have to cut the fat somewhere. If tomorrow, banks started loaning 80% of what they currently will loan for an education, you better believe those people would be getting a choice of a pay cut or a resignation the next day.
Users who are viewing this thread
