Tax Plan - MAGA - General Rant

 https://www.nbcnews.com/politics/congress/winners-losers-senate-tax-bill-n827856

“Overall the vast majority of taxpayers will get a tax cut for a period of time," Harvey said. "Then the tax cut will disappear, the pass-through (cut) will disappear, and the corporate tax cuts will remain permanent."

This has been, and remains, the chief screw job in the tax bill. Some of you guys have been posting that the Swede is going to lower your taxes. Yeah, for now, but; you better save the money or invest in Vaseline and get ready to drop your jocks and grab your socks. There never was a rich Republican that cared for the middle and lower classes and there never will be. Nature of the beast. Face reality. The carrot is small, the stick is a big old nasty one.

When your accountant said, “This will lower your tax bill” did he mention a time frame? You might want to ask about that, especially if he is a rich Republican, or working his way up to that level.

They averted the shutdown of December 8 and are finagling to avoid December 22 with a “we still don’t want to negotiate the budget” attitude, which may be a shock to lots of Americans. There are few possible answers to that dilemma. They certainly don’t expect the wealthy to pony up with donations from their tax savings, so scratch that one.

There will be no request that the wealthy pony up a donation from their massive tax savings, that is ludicrous. There will be no reduction in the Pentagon budget for the billions in corporate welfare they distribute every year through abominable contracting and worthless R&D programs.

The GOP will probably blame what they always do, Social Spending, which is to say The Social Safety Net. Of course there are cheaters on the system, as in any system, but many of your fellow Americans are dependent on necessary social services, some of which they have been paying for to serve others for many, many years.

Social Security and Medicare are NOT charity programs. Older, retired Americans, like myself, payed for such services all of our working careers (48 years in my case), to cover the needs of others, while awaiting the promise that the same benefits would be available to us when our time of need arrived. The obligation has arisen, and it is time to KEEP the promises.

Unemployment compensation is NOT a charity program. Your employer (not you) pays a payroll tax to fund the program.

General health and welfare programs are absolutely essential for those that simply, for whatever reason, cannot possibly afford to sustain themselves. It is a moral obligation that any decent person in America should be willing to acknowledge. 

MAGA – You want MAGA? OK, so do I.

I want an America where everyone pays his fair share, and no one is left destitute. That requires a graduated income tax with a higher rate of taxation on the wealthy, like it or not. The graduated income tax may not be ideal, but it is the closest we have ever come to fair taxation.

The corporate income tax is irrelevant. Lower it to 15% for all I care, because corporations, in the end, do not pay income taxes anyway. Corporation income taxes are paid from funds that came from the end users. Whatever they need for taxation is part of the formula for final pricing and is built into the old “cost of goods sold” or “cost of services rendered”. Like any expense of manufacture or services rendered the final cost always finds it’s way to the end user. When you lower, or even eliminate corporate income taxes you reduce the final cost to the end user, which makes business more efficient and competitive, especially with foreign competition, but domestically as well.

Deduct 1 or 2 billion from the Pentagon budget and use it to fund independent business analysts and accountants to demolish the fraud, waste, and corporate welfare being conducted daily in that inviolate memorial. We need not affect necessary operations, or the health, welfare and readiness of our military at all. Just get rid of the waste. The Pentagon R&D programs alone distribute billions per year in corporate welfare to industries they already know are not working on research and development of military systems and items that are never going to be built or deployed. The why and wherefore of that nonsense would be another long topic not essential to the moment.

Eliminate funding for partisan, special interest groups. Hillary, you want birth control and abortion funding? OK, but let the people that want it to support it. It is NOT the responsibility of the American taxpayer to fund special services programs they consider medically unnecessary and morally repulsive. There is a lot more of this type of funding, liberal and conservative both, that is going on and is not a respectable use of tax funding.

You Republicans that have protected and nourished the Farm Programs far past the point of there initial need or inception, no wonder you hold the Midwestern Farm Belt firmly in your grasp. Programs that were originally needed for the dust bowl-family farm era of the 1930’s have evolved into corporate welfare programs the last thirty or forty years, but the beat goes on, endlessly, ad infinitum.

One reference to Richard Nixon, a corrupt, sleazy, backstabbing miscreant in my opinion, but I hope he left us one concept that will emerge again. “The Silent Majority”.

If you are in one box or the other, GOP or Dem, I hope you get very lonely in the very near future. NEITHER major political party is working in your best interests or the best interests of the United States of America. If you can concede a point or two, and accept an adjusted view of one or two others, you may be headed for membership in the Silent Majority. Eventually the sane, reasonable and rational must prevail, or there exists no chance you will leave your children the country you intended to.  

So, there you go. Decrease corporate taxes and you do some good. Let the top 1% off the hook and you don't do diddly-squat. 

The corporate tax cuts are a good thing. The cuts for the wealthiest individuals are not. Didn’t anyone get that specific point?

High corporate taxes make business less competitive internationally and cause higher prices to consumers domestically. ALL taxation eventually flows down to the consumer.

The individuals that get the biggest breaks are not going to pony up for anything that does not make them even more wealthy. They will keep it, stash it away and expect even more in the future.

Those are the points I made in the original post and am proud of now. Corporations are stepping up; the individual wealthy are not. 

Sorry you don't follow what I am saying ClubDirt, but reading comprehension is a common problem on Covers. Apparently you think prices stay where they are, the profit is increased, and corporations toss a bone to employees and pocket the rest. You don't know much about competitive business, foreign or domestic. Not my problem.

I made a case for CORPORATE TAX RATES and their effect on business competitiveness, domestically and internationally. 

I criticized individual tax rates. I MADE NO REFERENCE OR CASE FOR any PRIOR TAX PLAN.   

YOU GUYS THAT DO NOT COMPREHEND THE POIINT, AND WILL NOT STAY ON TOPIC ARE INCREDIBLY STUPID. 

I'm in agreement with KeyElement.  The tax cut disappearing after a period of time for individuals is a damn shame.  But the middle class grabbing socks is the name of the game and should be of no surprise.  My problem with the tax cut is if there's some reduction in social security and/or medicare to offset the reduction in tax revenues.  I can see the current administration and the republican congressional leadership (Paul Ryan) going after social security and medicare in 2018 now that the tax plan is a done deal.  These programs are not only necessary but are SPECIFICALLY paid into with the FICA tax by the employee and employer.  I don't see this as a separate issue but more of the entire plan.  Tax cuts & social security/medicare/medicaid cuts as the whole enchilada which doesn't seem like such a win win situation for many people.  

Cave0707 makes a valid point. Since most of the employment taxes that fund Social Security and Medicare come from the middle class, reducing those benefits is a way of getting back the small tax cut the middle class is getting. Middle class retirees are much more dependent on their SS checks than wealthy retirees. So, you put an extra $20 a week in juniors pay envelope and let dad and mom call him for help because their SS checks went down $100 a month. To top it off you never explain to junior that when he needs it, the social safety net won’t be there. 

The 2017 standard deduction was $6350 and personal exemption was $4050.  So the total comes out to $10400.  The new tax plan eliminates the standard deduction and raises the standard deduction to $12000.  So it reduces our taxable income by $1600.  Our individual tax rate is also marginally reduced ... example lower tax brackets go from 15% to 12%, 25% to 22%, 28% to 24% and on and on.  The tax bracket amounts are also slightly adjusted for the individuals.  The corporations went from a taxable rate of 35% to 21%.  Also remember our tax reduction is temporary and are scheduled to expire in a few years time.

Is it just me or did the people get the shorter end of the stick on this plan?  I'd rather have no changes to the standard deduction/personal exemption and have our tax rates reduced by almost half and make this permanent.  Let the corporations take a tax rate reduction that is in line with what we're getting and have this temporary.  Now that would MAKE ME GREAT AGAIN.  

Essentially my point is I'd rather have our government try a tax plan that absolutely impacts the individuals and small business owners first and foremost.  If the deficit is gunna sky rocket let it be because there was a massive reinvestment to the individual versus our corporations.  The lions share should be for us ... ALL of us.  How about trying to make us competitive again, the individual taxpayer, the middle class ... and we'll each decide for ourselves how to exploit our additional purchasing power.  I don't see how this tax plan does this ... or it feels disproportionate to what the corporations are getting.  

Agreed with the bold that's why I'm for a tax reduction that hits the people and not the usual song and dance.  So I wholeheartedly disagree with your following statement regarding what you think is happening.  You wanna talk more specifics with the tax plan ... I'm all ears but I'm just not seeing it.  With the current tax plan and what i foresee of what will come in terms of reduction of crucial programs like social security and medicare ... I ain't buying.  But if you wanna swallow that whatever propaganda you've been fed ... you're no more or less than any other ... you have one vote worth's opinion as do I.