New Senate Tax Plan

[AngelsFaninGA]

1 hour ago, AngelsLongBall said:

And my taxes will actually go up because I don't itemize

It says mine will go down about 2.5% if I do itemize, 4.3% if I don't. Not sure what that means. 

[Adam]

https://www.cnbc.com/2017/12/20/tax-reform-reaction-att-is-giving-bonuses-to-200000-employees.html

[red321]

This is the AT&T that is currently having it's proposed acquisition of Time Warner held up by Justice Department? Not saying one has anything to do with the other...

[mtangelsfan]

27 minutes ago, nate said:

I see, you are talking about omitting everyone until 2025, I can see that.

I definitely win until 2025

and I am guessing things change between now and then.  We may have a democrat pres and a dem congress that does different stuff.  This stuff is always changing.

[mtangelsfan]

5 minutes ago, red321 said:

This is the AT&T that is currently having it's proposed acquisition of Time Warner held up by Justice Department? Not saying one has anything to do with the other...

I see what  you did there.

[Tank]

3 hours ago, AngelsLongBall said:

Is it just me, or does Cornyn's twitter profile pic look like he's getting a handie?

well, he is a senator.

so yes.

[Spirit]

1 hour ago, Adam said:

https://www.cnbc.com/2017/12/20/tax-reform-reaction-att-is-giving-bonuses-to-200000-employees.html

 

Guess the little guy is going to win.

 

 

[Adam]

Every single person that works for our company is going to keep more of their money. We had everyone do the calculator thingy. We have people making  from $11/hr to 6 figures. 

 

I thought the blue state folks were the ones that were gonna get screwed. 

[Tank]

1 hour ago, mtangelsfan said:

and I am guessing things change between now and then.  We may have a democrat pres and a dem congress that does different stuff.  This stuff is always changing.

and that's exactly why the permanent changes to this tax plan are in no way permanent.

[Adam]

It doesn't take a genius to figure out what is going to happen though. The gov't will increase spending. We'll hit a recession and Trump's legacy will be that of W's. Tax cuts are great, especially when they lead to higher revenues, but spending never slows and ultimately... whaaa whaaa whaaaaaaaaaaaaaaa

[Tank]

1 hour ago, Adam said:

The individual mandate is immoral. I don't really care what consequences it has

it's a great example of media bias (or whatever you want to call it) when people yell and scream about how xx million are going to lose their health insurance with this tax cut. really? by eliminating the penalty for forcing people to buy insurance they don't want?

[Spirit]

3 minutes ago, Adam said:

It doesn't take a genius to figure out what is going to happen though. The gov't will increase spending. We'll hit a recession and Trump's legacy will be that of W's. Tax cuts are great, especially when they lead to higher revenues, but spending never slows and ultimately... whaaa whaaa whaaaaaaaaaaaaaaa

 

[Spirit]

Comcast joining AT&T: "Based on the passage of tax reform and the FCC's action on broadband," Comcast is giving "special $1,000 bonuses to more than 100,000 eligible frontline and non-executive employees."

 

 

[Adam]

Wells Fargo and  at least one other bank are increasing their lowest wage to $15/hr

[Adam]

Hopefully that prevents a few poor souls from losing their lives in this tragedy. 

[Spirit]

12 minutes ago, Adam said:

Wells Fargo and  at least one other bank are increasing their lowest wage to $15/hr

 

Fifth Third Bank is also raising its lowest wage to $15 AND giving $1K bonuses

 

 

[Jason]

3 hours ago, AngelsLongBall said:

And my taxes will actually go up because I don't itemize

I don't itemize and mine will go down but I do file jointly

[Taylor]

I'll save 1.4%. Thanks, Trump!

[Adam]

35 minutes ago, Taylor said:

I'll save 1.4%. Thanks, Trump!

[Make Angels Great Again]

3k tax decrease coming my way.

Now if only someone would find a way to ditch social security.

[Jason]

1 hour ago, Geoff said:

Comcast joining AT&T: "Based on the passage of tax reform and the FCC's action on broadband," Comcast is giving "special $1,000 bonuses to more than 100,000 eligible frontline and non-executive employees."

 

 

 

1 hour ago, Adam said:

Wells Fargo and  at least one other bank are increasing their lowest wage to $15/hr

 

1 hour ago, Geoff said:

 

Fifth Third Bank is also raising its lowest wage to $15 AND giving $1K bonuses

 

 

That was really quick

[Jay]

Not sure if my income taxes are going up or down as a result of this bill. I assume they are going down slightly like most people.

Lots of changes starting next year. Wife is retired, and we're moving away from California. So it's not apples-to-apples.

We itemize because we pay a lot in state income tax and property tax. But that will be going down starting next year. Mortgage is paid off.

We paid AMT last year, I'm guessing we won't be paying AMT going forward.

One thing I do know is, the value of my retirement accounts went up about 20% in 2017. That's a lot of money.

Stock markets reacting favorably to new tax policy.

[Jason]

Just now, Jay said:

Not sure if my income taxes are going up or down as a result of this bill. I assume they are going down slightly like most people.

Lots of changes starting next year. Wife is retired, and we're moving away from California. So it's not apples-to-apples.

We itemize because we pay a lot in state income tax and property tax. But that will be going down starting next year. Mortgage is paid off.

We paid AMT last year, I'm guessing we won't be paying AMT going forward.

One thing I do know is, the value of my retirement accounts went up about 20% in 2017. That's a lot of money.

Stock markets reacting favorably to new tax policy.

You will keep more of your money now regardless of how the new tax plan works for you.

[Lhalo]

I like how this thread is dying off since everyone is realizing they’re saving a bunch of money with the tax cuts. Merry Christmas libs. 

[Jason]

9 hours ago, LHalo said:

I like how this thread is dying off since everyone is realizing they’re saving a bunch of money with the tax cuts. Merry Christmas libs. 

If you were one to listen to Dems like Pelosi, you would think we are all going to die a slow painful death because of the tax deal.