Trump Tax Reform

[Ktoyou]

I can , in the future, cut way down my taxes. Once RMDs go lower, I can hold mostly tax free bonds and keep mutual equity funds over the long run and have long term divined exceptions and little short term taxs, which is treated like income.

Get it down to about 40 grand a year and consider all the senior tax breaks and no state income tax in Florida, my taxes would drop way down.

It is active trading that causes short gains and high taxes. It also makes the most money. I am getting too old now to do that anyway.

 

[drbrumley]

Yet you can't substantiate why. :greedy:

I would be more than happy to have a discussion on it if you like.

But I have stated why. It's all over this board. And I know you would reject it out of hand.

 

[Ktoyou]

Unless your a millionaire, then it really is like 45 or thereabouts

he top tax was 39.5 and if the tax bill goes though it will be 37%
what do you mean?

 

[drbrumley]

I can , in the future, cut way down my taxes. Once RMDs go lower, I can hold mostly tax free bonds and keep mutual equity funds over the long run and have long term divined exceptions and little short term taxs, which is treated like income.

Get it down to about 40 grand a year and consider all the senior tax breaks and no state income tax in Florida, my taxes would drop way down.

It is active trading that causes short gains and high taxes. It also makes the most money. I am getting too old now to do that anyway.

True...I say do away with the capital gains tax...

 

[drbrumley]

he top tax was 39.5 and if the tax bill goes though it will be 37%
what do you mean?

There is a 6% millionaires tax included...or there was. I know it was in the house bill

EDIT: Its called a surcharge (tax) and the Republicans in Congress are not advertising this certain provision. With good reason I suspect.

 

[Ktoyou]

It worked until class warfare. 10 percent on incomes, and 20 percent on profits would be enough to feed a minimal federal and state government which we don't have.

And yes, the millionaire loopholes have existed in the IRS since the beginning.

i have been around that since the 6os. Yes 10% on 100 grand is ten times more than tax on ten grand.

Problem is some of us get rolling up into so much more money then what most can earn from a career, any career.

There is so much income inequality wen one considers an investor can easily make a million dollars in their live. A stock trader can make much more.

The tax cut really does make big money easier, so, on income, it should be more fair to people who do the work.

 

[Ktoyou]

We should also pay people a better wage and I hope corporations will do that and not just buy back their stock :sigh:

 

[Ktoyou]

There is a 6% millionaires tax included...or there was. I know it was in the house bill

EDIT: Its called a surcharge (tax) and the Republicans in Congress are not advertising this certain provision. With good reason I suspect.

Not so, take my word for it. Even the alternative tax is rescinded.

 

[drbrumley]

Not so, take my word for it. Even the alternative tax is rescinded.

Well, it was in the house bill....a Ways and Means committee guy even said it was....now I dont know if the Senate version contained it or not. I will do some more digging on this and let you know.

 

[SabathMoon]

i have been around that since the 6os. Yes 10% on 100 grND I TEN TIMES MORE TAX THAN ON TEN GRAND.

Excuse my large type I hit that button all the time.

Problem is some of us get rolling up into so much more money then what most can earn from a career, any career.

There is so much income inequality wen one considers an investor can easily make a million dollars in their live. A stock trader can make much more.

The tax cut really does make big money easier, so, on income, it should be more fair to people who do the work.

I have mixed feelings about the tax cuts. Why should the corporate tax be close to what the middle class pays. What about not taxing gains on gold investments?

Most Republican politicians don't care about these things yet.

 

[Ktoyou]

I have mixed feelings about the tax cuts. Why should the corporate tax be close to what the middle class pays. What about not taxing gains on gold investments?

Most Republican politicians don't care about these things yet.

If the corporate tax is lower then more money is kept in in the USA, and less companies will locate outside the USA. We have a big problem with where the money is going these days,

Gold, you do not have to pay any tax on it if you know how to do it.

TOL is not really the place for this discussion when it turns to how to make money.

There are sites where this subject is discussed.

 

[Jonahdog]

We should also pay people a better wage and I hope corporations will do that and not just buy back their stock :sigh:

Dont hold your breath.

 

[MarcATL]

The only part I cared about is the corporate tax cut. That is the biggest gain for me. As to personal taxes, I'd rather see it be best for those who work hard but do not make the big bucks. I think we can do better for working people.

What type of work do/did you do?

Sent from my SM-N950U using Tapatalk

 

[Ktoyou]

What type of work do/did you do?

Sent from my SM-N950U using Tapatalk

Forensic psychologist, until 2003.

After I retired, I became a stock trader.

 

[patrick jane]

Merry Christmas from The Donald - more money in your paychecks

To: jgarden
From: Donald J. Trump

 

[kmoney]

Merry Christmas from The Donald - more money in your paychecks

To: jgarden
From: Donald J. Trump

A gift with an expiration date. How nice. Unless you're a corporation. They get to keep it forever.

 

[patrick jane]

A gift with an expiration date. How nice. Unless you're a corporation. They get to keep it forever.

I guess tax cuts should last forever?

 

[patrick jane]

Yay Trump !!! Tax Cuts !!!!

 

[kmoney]

I guess tax cuts should last forever?

If it's good enough for companies why isn't it good enough for individuals? Or if someone has to lose out, why is it the regular folks?

I imagine the GOP explanation is that it's better for companies to get perm cuts because they think giving companies more money will drive growth and it will eventually get to individuals but I'm not holding my breath for that to happen.

 

[patrick jane]

If it's good enough for companies why isn't it good enough for individuals? Or if someone has to lose out, why is it the regular folks?

I imagine the GOP explanation is that it's better for companies to get perm cuts because they think giving companies more money will drive growth and it will eventually get to individuals but I'm not holding my breath for that to happen.

Well, with the dems completely trashing tax reform for 6 months straight with the media on board, most people think it's bad. That means there's nowhere to go but up. I think people will be singing a different tune in a year.