Trump Tax Reform

[Jonahdog]

The removal of the individual mandate is the defacto, even if not the dejure, end of Obamacare. That no one will be forced to buy these unaffordable policies means the Obamacare system will simply collapse due to its own weight. It means the premiums and deductibles will skyrocket in cost for the only thing keeping the premiums from rising even faster than they have so far is the fear of the people of being fined by the IRS for not buying. Once that fear is removed the pool of people buying will shrink to almost nothing, and the insurance companies will abandon it in droves.

And people without insurance will flock to hospital ERs, the hospital will serve them, the patient will be unable or unwilling to pay and the hospital will increase its over all rates to make up the difference such that your carrier will pay more and so will you.
Of course we could always require those without insurance to show up with cash or not get service. Heart attack, lets see $50K to start. That'll work.
Although I'm sure Joel Osteen or one of the other mega-preachers will write a big check for anyone in their congregation.
Nah, let the poor people die. They dont play golf at one of Trump's courses, or give big contributions to Orrin Hatch, Teddy Cruz or the RNC.

 

[patrick jane]

And people without insurance will flock to hospital ERs, the hospital will serve them, the patient will be unable or unwilling to pay and the hospital will increase its over all rates to make up the difference such that your carrier will pay more and so will you.
Of course we could always require those without insurance to show up with cash or not get service. Heart attack, lets see $50K to start. That'll work.
Although I'm sure Joel Osteen or one of the other mega-preachers will write a big check for anyone in their congregation.
Nah, let the poor people die. They dont play golf at one of Trump's courses, or give big contributions to Orrin Hatch, Teddy Cruz or the RNC.

:rotfl: 9 million Tiny Tims will die.

 

[kmoney]

The removal of the individual mandate is the defacto, even if not the dejure, end of Obamacare. That no one will be forced to buy these unaffordable policies means the Obamacare system will simply collapse due to its own weight. It means the premiums and deductibles will skyrocket in cost for the only thing keeping the premiums from rising even faster than they have so far is the fear of the people of being fined by the IRS for not buying. Once that fear is removed the pool of people buying will shrink to almost nothing, and the insurance companies will abandon it in droves.

I'm aware of how the dominoes may fall but the ACA was not repealed and I doubt most who said yes used the reasoning you gave.

 

[Jonahdog]

:rotfl: 9 million Tiny Tims will die.

Standard TOL Christian value I see.

 

[Jose Fly]

I got an early look at my first pay stub that reflects the changes from the tax law.

My federal taxes went up $5 per pay period.

 

[patrick jane]

I got an early look at my first pay stub that reflects the changes from the tax law.

My federal taxes went up $5 per pay period.

We aren't supposed to see any decrease until February I heard.

 

[WizardofOz]

I'm aware of how the dominoes may fall but the ACA was not repealed and I doubt most who said yes used the reasoning you gave.

I think [MENTION=20423]ffreeloader[/MENTION] is essentially correct. "For years, the Obama administration said the health care system as constructed by the Affordable Care Act could not survive without a mandate that most Americans have health insurance." - Cite

There have been plenty of large carriers that stayed away from the .gov marketplace and more and more left the longer ACA went on. Now that there is no individual mandate, there just isn't any compelling reason for people to use it as premiums will rise and coverage will curtail as less and less people are in the pool.

I dropped my coverage when my premiums tripled after ACA took effect. I am healthy and it was way cheaper to pay the tax penalty. A free market will always offer better value than a government mandate unless we're talking single payer which I hate in theory but would likely be an improvement as opposed to where things are now and where they are headed.

"As you can see, the CBO's projections for the exchanges have consistently been waaaaaay too high. For 2015, it was off by about 30 percent"

 

[WizardofOz]

Further:

Deductibles and premiums have gone up faster than wages or inflation.

The ACA just didn't do what it set out to. Quite the contrary, actually.

 

[Gary K]

I'm aware of how the dominoes may fall but the ACA was not repealed and I doubt most who said yes used the reasoning you gave.

What matters the mental gymnastics that they used? The effect is the same. It is the defacto end of Obamacare, and those who voted to favor of getting rid of the mandate had to know it.

To me it's no different than all the so-called liberals who have been screaming "women's rights" for all these years, and all the time they have been abusing women. It's also interesting to see how many of the most outspoken of them are the guiltiest. The pure hypocrisy of condemning conservatives for a supposed "war on women" while conducting their own war on women is, I won't say stunning, because I'm far past being stunned by any of the lying the left does, something that ought to be really eyeopening to those who honestly have believed that the leftist politicians and media figures actually believe the nonsense they spout. It shows they will say anything for political gain while living exactly the opposite of what they preach.

 

[kmoney]

Lately I've read a bit about certain tax benefits that largely benefit the rich. One of them is the mtg interest deduction. I didn't realize that it's usable on 2nd homes. If the purpose is about home ownership then I'm not sure why the gov't would care about people owning multiple homes. There may be some housing industry benefit but another negative consequence that people talk about is an inflation of home prices. And obviously as prices are inflated then it's harder for lower-income buyers to purchase. Home-ownership is a worthy goal but there may be a better way to go about it. One recommendation I saw was to change it to a credit instead of a deduction but they didn't go into why so I don't understand how that'd be better.

 

[WizardofOz]

Hey [MENTION=4651]kmoney[/MENTION] - I'd be curious to look at the info you've read on this.

"Tax bill may squash your dream of a second home"

To pay for other tax cuts benefiting individuals and corporations, the GOP tax plan trims the mortgage interest deduction and property tax deduction, which combined allow some homeowners to take tens of thousands of dollars off their taxable income. The law allows interest to be deducted on mortgages only worth up to $750,000, instead of the previously existing $1 million limit (people who got loans before Dec. 15 are grandfathered into the $1 million limit). It also put a $10,000 cap on the amount of state and local taxes, including property taxes, that can be deducted from the federal return.

Happy New Year buddy! :cheers:

 

[kmoney]

Hey [MENTION=4651]kmoney[/MENTION] - I'd be curious to look at the info you've read on this.

"Tax bill may squash your dream of a second home"

To pay for other tax cuts benefiting individuals and corporations, the GOP tax plan trims the mortgage interest deduction and property tax deduction, which combined allow some homeowners to take tens of thousands of dollars off their taxable income. The law allows interest to be deducted on mortgages only worth up to $750,000, instead of the previously existing $1 million limit (people who got loans before Dec. 15 are grandfathered into the $1 million limit). It also put a $10,000 cap on the amount of state and local taxes, including property taxes, that can be deducted from the federal return.

I haven't read anything specifically about how the GOP tax bill will impact ownership or who it will impact the most, etc. But what I've been reading has led me to rethink some of it. When I first saw that the GOP was targeting the mtg interest I was not happy but the more I read about it the more I think they should have gone after it even more strongly.

Killing the dream of a 2nd home doesn't seem so bad. :idunno:

Happy New Year buddy! :cheers:

Same to you! :cheers:

 

[kmoney]

Trump Tax Reform

There doesn't appear to any question that "The Donald" will be one of the big winners when this Republican tax legislation takes effect!

If this had been a Democratic Administration, our conservative "friends" would have been shouting "conflict of interests" from the rooftops and demanding that a Democratic president make their tax returns public!

Thusfar, the silence on RIGHT has been deafening!

I don't think this counts as a conflict of interest. The Republicans are the party of tax cuts and the party that believes in trickle down economics. It's natural that a tax bill they come up with would benefit a wealthy businessman. I think it's silly at best to look at this as a conflict of interest or some scheme to personally benefit the president. Unless you can point to a specific item in the bill that seems like it's designed to benefit Trump. I know people have made a lot of the pass-through cuts that will help Trump's business but I don't think you can say with any kind of confidence that that provision was inserted because Trump is President. :idunno: