the Trumpster wants to double the standard deduction for taxes...

  • yep.... no taxes on the first 12k for singles and no taxes on the first 24 k for married. then rates for adjusted income will be 10% (reduced from 12%) and 25% was a sliding scale somewhat higher and 35% down from 39%


    So basically if you are married and make 100k... you get a 24k deduction off the bat. get it down with mortgage kids whatever charity.... to say 50k and you pay flat rate 10%


    This would most likely mean... you got it down to 40k or so and pay 4k in taxes... before..... you got it down to say 60k and paid 12% of that.


    No single person pays a dime if he only makes 12k... no married if they only make 24k not many in that bracket but.... Oh... he wants to eliminate the death tax. Lots of breaks for small business too.... when you add the gutting of the oppressive EPA to tax breaks... it starts to make sense to open a small business nowdays.


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • yes... it is nice... but.... it will just make it so greedy white people pass on wealth to their children just because the children know who their fathers are! this unfair to the poor.


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • so, even more 'earned income credits'?

    What are you talking about? It looks like less taxes to me. What do you mean by earned income credit? That they aren't going to tax your ass until after a certain amount?

    Climate warming has always been a good thing. When the climate gets warmer, life thrives on earth. Global warming has always been a good thing. I thank God for global warming. Climate alarmists are fucking retarded.

  • nothing wrong with people keeping their own money - ever.


    I wonder if these deduction limits will be used to increase eic payments - which are really welfare payments


    an honest question

    No trees were killed in the posting of this bullshit, however, a large number of electrons were terribly inconvenienced.

  • I like having the standard deduction increased, since my little tax deduction grew up and moved away, and my house is nearly paid off...I haven't been able to go long form in 4-5 years

    If politicians only got paid according to their district's economic success, there would be no more Democrats.

  • I already pay 10.5%.


    Meh.


    Stop taxing the fuck out of my overtime, don't limit my 401(k) contributions to 15% annually and stop taking SS out of my check once I've accumulated 40 years in the workforce and I might have a reason to cheer.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • Seriously?


    Increase your charitable contributions to 12-15% and you should be there.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • razer... you pay 10.5 on your taxable income.... or your income after deductions. The way this works is that your STANDARD DEDUCTION for married would double so that you would pay nothing on the first 24k....


    to put it simply... it is just 12k more that you would not pay taxes on and instead of a 12% rate on the rest it would be 10% depending on income. Unless they found out you spent $900 on a bush... . then you might be fucked...


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • I don't use the standard deduction, but I might if it doubled.


    Now I've got to go home and look at my returns.


    Still, what I said stands, Uncle Sam needs to GTFO of my retirement money.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • You put 15% into your 401k? Sonofabitch,,I thought my 10 was up there

    Add $230 a check for my catch up contribution. I max out my retirement contributions every year, helps in April. 2009 put me back a bit, still working to catch up.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • No shit?


    What's the tax rate on money you paid taxes on already?

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

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