US Senate passes sweeping tax overhaul bill
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Re: US Senate passes sweeping tax overhaul bill
#2[deleted]
Re: US Senate passes sweeping tax overhaul bill
#3I know it takes 100°C for water to boil, but how much does the US need?
Keep in mind, Trump is not the source of the problem, he is one of the (reinforcing) symptoms of a host of underlying systemic societal issues.
Re: US Senate passes sweeping tax overhaul bill
#4It's sickening how large corporations make more and more money but pay almost no taxes because (through the money) they have so much influence on politics.
Re: US Senate passes sweeping tax overhaul bill
#5This will go down in history as one of the most grotesque things to ever have happened in American politics. And that's saying a lot, there is some stiff competition for sure.
Re: US Senate passes sweeping tax overhaul bill
#6For those who didn't watch the proceedings, https://pbs.twimg.com/media/DQAYbwpU8AELZa0.jpg was one of the actual pages of the bill, quite literally handwritten scribbled margin notes.
Re: US Senate passes sweeping tax overhaul bill
#7The law making process is so clearly broken. I see this as a contributing factor to the long gradual decline of the role of the USA in the world. The reemergence of China should be engendering a positive spirit of lifting the game, not a money grabbing exercise.
If you can’t make evidence based laws for the people then society will be warped into some dysfunctional dystopian end game.
Re: US Senate passes sweeping tax overhaul bill
#8I have been watching comments on NYTimes and Fox News and what surprised was not a single person (out of couple of thousands) actually estimated their tax bill and compared.
There is one calculator out here (which might not be accurate because of changes): https://www.calcxml.com/calculators/trump-tax-reform-calcula...
I used it to arrive at following numbers. If this tax calculator is right then there is indeed ~$10K tax cut for everyone in middle class and above:
$750K->$236,950 to $212,060
350K->$81,595 to $72,060
250K->$47,701 to $38,900
150K->$17,778 to $9900
50K->$548 to 0
On the other hand this NYTimes analysis says that lower and middle class cuts are tiny but people with $1M or more just get huge cut: https://www.nytimes.com/interactive/2017/11/17/us/politics/s...
Also, according to above analysis poor people will be taxed more than before after 10 years!
So overall at this point I think computing impact remains very hazy given all kind of conflicting information. But one thing for sure, rich people are the major winner here given much higher cuts + no or less death tax. Warren Buffet had said that common strategy they used during Bush era was to give $400 one time check to everyone so they are happy while sneaking in millions of dollars of recurring tax cuts for the rich in form of capital gains.
I wish US had Swiss style public referendums where people can demand to vote on legislation and overthrow any legislation they wished.
Re: US Senate passes sweeping tax overhaul bill
#9One of the problems of US is the fact that protesting is virtually impossible. Unless there are 1,000,000 people in the streets of DC for two weeks, no one will care. Protesting in your city has little impact on the federal level. Also The general lack of public spaces makes it hard. And the fact that the police cracks down pretty hard on things after the first display of some sort of "disobedience". Look at the photos from protests in like France. Shit on fire, people throwing shit, but the police doesn't shoot them.
Dystopian police state here we come. Fuck I hope at least there will be a real NeoTokyo in the future.
Re: US Senate passes sweeping tax overhaul bill
#10I have been watching comments on NYTimes and Fox News and what surprised was not a single person (out of couple of thousands) actually estimated their tax bill and compared. There is one calculator out here (which might not be accurate because of changes): https://www.calcxml.com/calculators/trump-tax-reform-calcula... I used it to arrive at following numbers. If this tax calculator is right then there is indeed ~$10…
The U.S Bureau of the Census has the annual real median personal income at $31,099 in 2016.