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Thread: Today in Trump

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  1. #286
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    Default Re: Today in Trump

    With a total combined income of $30,000 a year me and my wife get to write off the first$24,200 of our gross income thanks to Donald Trump as the standard deduction for married filing jointly. That leaves us about $6,000 worth of income to pay tax on. Guess what? That amount of tax is zero because it is below the poverty threshold. Last year I had to pay$1,373 when I filed but this year I will have to pay zero. So basically Donald Trump has just saved our family and millions of other families in the same income bracket at least $1,373 per year.

    *****GO TRUMP*****

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    Default Re: Today in Trump

    Quote Originally Posted by walrus View Post
    Does Kirk realize the tax bill has yet to pass. He keeps running out these numbers but we don't have the finished bill

    Since they are giving business owners and wealthy heirs a massive tax break, Republicans have shied away from also cutting the top tax rate. However, the Washington Post reports that the compromise bill between the Senate (which cut the top individual tax rate from 39.6 percent to 38.5 percent, and the House, which kept the top tax rate at 39.6 percent, will be … 37 percent.
    You may notice that isn’t a compromise at all. It seems Republicans got itchy to use their one big chance at government control to give rich people the biggest possible tax cut they could design.
    Remember, Steve Bannon had previously floated an increase in the top tax rate as a symbolic nibble at the wallets of rich people, to give Republicans a bit of cover for their corporate tax cuts. Not only have they ignored this approach, they now seem to be going the other way. The bill is horribly unpopular anyway — might as well get all the cash you can get out of it.


    http://nymag.com/daily/intelligencer...-the-rich.html

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    Default Re: Today in Trump

    Quote Originally Posted by brocktonblockbust View Post
    With a total combined income of $30,000 a year me and my wife get to write off the first$24,200 of our gross income thanks to Donald Trump as the standard deduction for married filing jointly. That leaves us about $6,000 worth of income to pay tax on. Guess what? That amount of tax is zero because it is below the poverty threshold. Last year I had to pay$1,373 when I filed but this year I will have to pay zero. So basically Donald Trump has just saved our family and millions of other families in the same income bracket at least $1,373 per year.

    *****GO TRUMP*****
    https://taxfoundation.org/2018-tax-brackets

    There's no poverty threshold this year? What the hell is a poverty threshold?

    Two people earn $30 000 in a year? Do you collect drink cans?

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    Default Re: Today in Trump

    Insulting poor people, Kirk?

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    Default Re: Today in Trump

    You're all losing focus on the main achievement and the real kernel of the matter here, surely it is Doug Jones' feline attributes?
    If God wanted us to be vegetarians, why are animals made of meat ?

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    Default Re: Today in Trump

    Quote Originally Posted by brocktonblockbust View Post
    Insulting poor people, Kirk?
    You graduated from a business school and you're making in a week what a graduate entry level lawyer earns in an hour?

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    Default Re: Today in Trump


    Republican Rep. Kristi Noem of South Dakota is one of the negotiators trying to reconcile the House and Senate tax bills. No doubt House Speaker Paul Ryan views her as a strong voice for estate tax repeal, because of her personal story of how her farming family struggled to pay the tax.
    The House bill would abolish the estate tax, a levy on the intergenerational transfer of immense wealth.

    Noem perpetuates the “estate tax hurts farmers” argument using her life experience. The story she tells, however, does not line up with some very basic tenets of the tax code. Now, 23 years later, it is high time to get the facts. It’s also an important time to understand just who is subject to the estate tax and what its repeal really means.
    On April 16, 2015, Noem stepped onto the floor of the House and described how her father was killed on March 10, 1994 in a tragic accident on their family farm. Noem, who was a 21-year old student at the time, recounted:
    It wasn’t very long after he was killed that we got a bill in the mail from the IRS that said we owed them money because we had a tragedy that happened to our family … We could either sell land that had been in our family for generations or we could take out a loan. So I choose to take out a loan but it took us 10 years to pay off that loan to pay the federal government those death taxes. It is one of the main reasons I got involved in government and politics was because I didn’t understand how bureaucrats and politicians in Washington DC could make a law that says when a tragedy hits a family they somehow are owed something from that family business.
    There are several important questions raised by Noem’s account. First, the estate tax has had a 100% marital deduction since 1982. In other words, upon the death of Noem’s father, all the family assets could have flowed to her mother without being subject to the estate tax. Noem’s parents were married and her mother, Corinne Arnold, is still alive today.
    “It’s hard to believe the estate of a farmer who died in 1994 and was survived by his spouse was subject to tax,” said Robert Lord, a Phoenix tax attorney with an expertise in estate tax law. “It easily could have been deferred. That would have been a no-brainer.”
    Another oddity in Noem’s story is that the IRS doesn’t send a bill for an estate tax without a tax filing. In 1994, families had nine months to file a return with the option of filing a six-month extension. The conservative canard that the taxman shows up at the funeral is emotionally gripping, but simply false. The law at the time allowed farms to defer estate taxes for up to five years.
    In the event that the Arnold family did owe taxes, the IRS had flexible installment plan at an interest rate lower than any lender. There would have been no need to get a loan from a third-party. But this doesn’t answer the fundamental question: Why did they pay any tax?
    “It’s very unclear they would have been subject to the estate tax given the law at the time,” said Lord. “But if she did pay a big estate tax bill. she should elaborate on the unusual circumstances.”
    Noem is now at the center of the national debate over estate tax repeal and her personal story is regularly repeated as an example of how the estate tax hurts family farmers and ranchers. But things have changed a lot since 1994, when the amount of wealth exempted by the tax was $600,000 for an individual. The wealth exemption is now $5.49 million per person and $11 million per couple. Closely held businesses and farms have 14 years to pay the tax at low interest.
    The number of farmers subject to the estate tax has been dramatically reduced as have the total number of estates. South Dakota is the state with the fewest taxable estates in the entire country, roughly 15 a year.
    In her speeches attacking government overreach, Noem leaves out another important fact. Between 1995 and 2016, her family-owned Racota Valley Ranch in Hazel, S.D. cashed $3,704,415 million in government farm subsidies. In 2012 alone, they accepted $232,707 in subsidies.
    More: Republicans face 2017 deadline to brag about their tax plan
    POLICING THE USA: A look at race, justice, media
    Given that Kristi Noem is now the national face for estate tax repeal, it would be reasonable to ask these simple questions:
    Why did your family not use the spousal exemption to pass along assets to your mother and avoid any estate taxes?
    Did you actually get a bill from the IRS? Please show evidence of this bill and the date (redacting out any personal financial information).
    Did you actually get a loan from a third party to pay the taxes and from where?
    If the government is so tyrannical, why has your family cashed over $3.7 million in taxpayer funded farm subsidy checks since 1995?
    Losing one’s father and family breadwinner is a traumatic event. But 23 years later, this story is still being used to justify the elimination of a tax that is now exclusively paid by multimillionaires and billionaires. It applies to about 5,000 estates out of some 2.6 million deaths a year. That's two out of 1,000.
    Doubling the estate tax exemption will cost an estimated $83 billion over the next decade while abolishing the estate tax will cost over $269 billion over the same period.
    Before she leads the GOP crusade to abolish the estate tax, Kristi Noem has some accounting of her own to do.


    https://www.usatoday.com/story/opini...umn/930472001/


    Populism!

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    Default Re: Today in Trump

    Quote Originally Posted by Kirkland Laing View Post
    Quote Originally Posted by brocktonblockbust View Post
    Insulting poor people, Kirk?
    You graduated from a business school and you're making in a week what a graduate entry level lawyer earns in an hour?
    What a judgement scumbag you are!

    Die now and make the world a better place!

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    Default Re: Today in Trump

    Kirk it is rather appalling u rag on someone for putting out the figures they made. So the guy makes thirty something k a year. I know people who make more and I've been to villages in china where money did not change hands the reap and sow everything the eat and use. If u truly are loaded, and I call bullshit on that as you have made several mistakes in lingo that someone familiar with the big banks in NYC would never make. Anyway all of our paper money could be wiped out tomorrow. Maybe Brock is well prepared for the end times and his 3,000 cans of baked beans is worth more than you will ever have. How dare you

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    Default Re: Today in Trump

    Exactly

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    Default Re: Today in Trump

    Quote Originally Posted by brocktonblockbust View Post
    Quote Originally Posted by Kirkland Laing View Post
    Quote Originally Posted by brocktonblockbust View Post
    Insulting poor people, Kirk?
    You graduated from a business school and you're making in a week what a graduate entry level lawyer earns in an hour?
    What a judgement scumbag you are!

    Die now and make the world a better place!
    I think this is probably the only time i have ever hit the 'dislike' button because that is usually reserved for benders like you Brock. So now you are suggesting the world would be a better place if another poster was dead because why exactly? He pointed out a simple fact? and he is the judgmental one? Ha!
    Hidden Content

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    Default Re: Today in Trump

    Quote Originally Posted by Beanz View Post
    Quote Originally Posted by brocktonblockbust View Post
    Quote Originally Posted by Kirkland Laing View Post
    Quote Originally Posted by brocktonblockbust View Post
    Insulting poor people, Kirk?
    You graduated from a business school and you're making in a week what a graduate entry level lawyer earns in an hour?
    What a judgement scumbag you are!

    Die now and make the world a better place!
    I think this is probably the only time i have ever hit the 'dislike' button because that is usually reserved for benders like you Brock. So now you are suggesting the world would be a better place if another poster was dead because why exactly? He pointed out a simple fact? and he is the judgmental one? Ha!
    It took longer for u to pipe in than I anticipated you must have thought long and hard before posting that turd

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    Default Re: Today in Trump

    I would never lower myself to explain anything to a mentally ill person like beans. It's like pouring water down a bottomless pit. the sicko was born disingenuous, contrary and a deliberate troll and that is to say the absolute very least

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    Default Re: Today in Trump

    Quote Originally Posted by brocktonblockbust View Post
    I would never lower myself to explain anything to a mentally ill person like beans. It's like pouring water down a bottomless pit. the sicko was born disingenuous, contrary and a deliberate troll and that is to say the absolute very least
    I might jest about taking you for a walk in the foggy moors or introducing you to treacherous cliff edges or the wealth of abandoned tin mines but I would never wish death on any poster. What a couple of snowflakes you and your boyfriend Walrus have proved to be. Bravo
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    Default Re: Today in Trump

    Taking somebody for walking in abandoned tin mine is way more Sinister and frightening than anything I have said here it is you who is the sensitive snowflake. It is you who wants to Define what is more over-the-top than what and what is more acceptable than what. The true sign of a mentally ill person deciding for others what is and what is not such and such

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