Current Events > Thanks to the shit media, Americans don't realize that 80% of them get tax cuts

(+) Yeah! (+)

I wonder how many of those will have to turn around and spend it all on increased health premiums.
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UnholyMudcrab posted...

I wonder how many of those will have to turn around and spend it all on increased health premiums.

Like the ones caused by Obamacare?
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That's one way to put it.

The article does, however, point out:

(The cuts shrink over time, eventually reduced to nothing for most people in 2027.)

They were successfully able to convince the public that the bill was geared toward giving corporations a huge, permanent tax cut, while giving individuals only a temporary one; and that the benefits of the bill would accrue overwhelmingly to wealthy taxpayers. This message had the virtue of being true

There's also an interesting section near the end:

Historically, the impression that most people will see no benefit is not an outlier. For most people, the Affordable Care Act, or Obamacare, provided a net benefit and had little effect on premiums, but there was widespread expectation that would it increase costs. President Obama also pushed through a tax cut for most Americans, but in a February 2010 poll, only 12 percent of respondents said theyd gotten a tax cut, versus 53 percent who said there had been no change and roughly a quarter who said their taxes had risen.

UnholyMudcrab posted...

I wonder how many of those will have to turn around and spend it all on increased health premiums.

All of them.
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DragonGirlYuki posted...

Big government just means more waste.

But if you can join it, what a place to be! :P
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amazing news. glad the government is finally taking care of us. God bless America
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@The_Admiral
@thehaters

From corporate today through my employer

The U.S. Congress has passed landmark tax legislation effective January 1, 2018 that will help make blank more competitive in todays global marketplace and encourage continued investment and innovation in the United States.

Provisions that support blanks long-term investment in the United States include:

LOWER CORPORATE TAX RATE: The corporate income tax rate is permanently cut from 35 percent to 21 percent, helping put U.S. companies on a level playing field with foreign-based competitors. blanks cash tax rate in the U.S. has been low as tax credits generated under prior law have reduced its U.S. tax liability; thanks to provisions in the new tax that are favorable to U.S. manufacturers,blanks cash tax rate will remain low for the foreseeable future
PRESERVED RESEARCH CREDIT: The bill preserves a tax credit for companies investing in domestic research and development. blank spends nearly $7 billion on R&D every year, most of which is done right here in the U.S.
CAPITAL INVESTMENT INCENTIVES: The bill allows companies to write off in one year qualified capital investments made in the U.S. through 2022. Over the past five years, blank has invested more than $12 billion in its U.S. factories.
ALTERNATIVE MINIMUM TAX REPEAL : The corporate AMT is permanently repealed, allowing the above benefits to be fully realized

And for our dealers and customers:

FLOORPLAN INTEREST DEDUCTION: Auto dealers are still able to fully write off interest expense on their vehicle inventories
PURCHASE INCENTIVES: Capital investment incentives that benefit will also benefit customers that purchase vehicles for use in a trade or business; the bill also preserves a tax credit (up to $7,500) for purchasers of electric vehicles

We continue to analyze the various provisions of the legislation and will have more to communicate after the first of the year.
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So your point here is that there will be small tax cuts next year, ignoring the damage done in healthcare and every year after next. Admiral is a little picture kind of guy.
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P4wn4g3 posted...

So your point here is that there will be small tax cuts next year, ignoring the damage done in healthcare and every year after next. Admiral is a little picture kind of guy.

What the ACA damages?
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@glitteringfairy

Honestly penny stocks and dollar stocks are crap. Since August, I put in like 80 bucks into stocks just to try it out and I do it through Robinhood which has no commission fees. Anyways I have gained like forty dollars. Mostly through free referral stock and I got lucky on the moviepass stock that was going wild for a month. The main thing I learned is that you need money for stocks even when starting out. Even if you get a decent etf stock that is pretty likely to gain money, you need a lot of them. Say you got a 25 dollar etf stock, you'll probably need like 40 to gain a decent steady profit.

Dollar stocks of penny stocks usually go nowhere. If you want to start out small, you're better off in crypto. Crypto gaining are wild and somewhat risky but holding and buying when things dip can lead to a quicker profit even if it takes time. I put like 140 dollars into crypto and it's been almost a month. Right now I gained 70 bucks and at most I had 112 bucks. I plan to gain at least a thousand through crypto and then try to put into stocks where I believe I can have a better chance to profit off stocks but I can't start off small with stocks because unlike crypto, I can't buy pieces of a stocks or buy with a credit card. I need to buy the entire stocks and sometimes buying a good number of decent stocks can be tough when starting out small.
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Asherlee10 posted...

I know I'm being entirely lazy, but is there some chart I can look at that shows my income and what sort of tax benefits I'll be receiving for 2018?

I'm not sure if it takes it account the most recent changes or is totally in-depth, but there's this:

https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html

Capn Circus posted...

The Great Muta 22 posted...

Perhaps if the GOP didn't want to be viewed as the party of the rich they should do more to separate themselves from it. Which you know, doesn't involve filling your cabinet with Goldman Sachs executives, having your Secretary of Treasury pose with money and his model wife, and other actions which make people distrust you?

Uh oh! Looks like one of Obama's liberals did the same thing. Except they're holding up stacks of 100s. Smh

Liberals, respond to this!
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Wage inequality and all that primarily. If I get back 100 bucks because of a donation or whatever and the rich get back 100 times as much while donating 80-85 percent as much, that's bullshit.

Shit like this furthers the financial disparity between the middle class and the wealthy, which absolutely fucks over everyone who isn't wealthy down the line. May be a couple years, maybe a decade or even longer but that's the way it will continue to go if this path is maintained. Thus, we are rightfully pissed.

If it was a tax credit that we benefited equally, I'd be all for it. Meaning that for my non descript example in my first sentence if I donate a certain amount and get 100, I want them to donate 10 times as much to get a grand. 100 times as much to get 10k. 1000 times as much to get 100k and on and on.
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I already nailed the hard proof.

But as usual it get ignored because this board can't handle the Hypno droppin truth bombs. Pretty par for the course.
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ITT: People who don't understand how taxation works @The_Admiral
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The Admiral posted...

Sour grapes and Trump Derangement Syndrome have this being spun as a "tax cut for the rich" by the humiliated media, when reality couldn't be farther from it.

The majority of cuts do apply to the top 20% but yea sure it's all evil media and trump hate. All of it. None of it is based on that fact.

Fucking derp
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luigi13579 posted...

Asherlee10 posted...

I know I'm being entirely lazy, but is there some chart I can look at that shows my income and what sort of tax benefits I'll be receiving for 2018?

I'm not sure if it takes it account the most recent changes or is totally in-depth, but there's this:

https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html

$2,050 tax cut baby!!!
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So I get to save money on taxes that I have to pay on healthcare.

Whoooo. Oh wait I actually don't get a tax cut. Awesome!

By "shit media" do you mean the CBO, the Joint Committee on Taxation, the Tax Policy Center, the Treasury's Office of Tax Analysis, and the Institute of Taxation and Economic Policy?

@The_Admiral
@thehaters

From corporate today through my employer

The U.S. Congress has passed landmark tax legislation effective January 1, 2018 that will help make blank more competitive in todays global marketplace and encourage continued investment and innovation in the United States.

Provisions that support blanks long-term investment in the United States include:

LOWER CORPORATE TAX RATE: The corporate income tax rate is permanently cut from 35 percent to 21 percent, helping put U.S. companies on a level playing field with foreign-based competitors. blanks cash tax rate in the U.S. has been low as tax credits generated under prior law have reduced its U.S. tax liability; thanks to provisions in the new tax that are favorable to U.S. manufacturers,blanks cash tax rate will remain low for the foreseeable future
PRESERVED RESEARCH CREDIT: The bill preserves a tax credit for companies investing in domestic research and development. blank spends nearly $7 billion on R&D every year, most of which is done right here in the U.S.
CAPITAL INVESTMENT INCENTIVES: The bill allows companies to write off in one year qualified capital investments made in the U.S. through 2022. Over the past five years, blank has invested more than $12 billion in its U.S. factories.
ALTERNATIVE MINIMUM TAX REPEAL : The corporate AMT is permanently repealed, allowing the above benefits to be fully realized

And for our dealers and customers:

FLOORPLAN INTEREST DEDUCTION: Auto dealers are still able to fully write off interest expense on their vehicle inventories
PURCHASE INCENTIVES: Capital investment incentives that benefit will also benefit customers that purchase vehicles for use in a trade or business; the bill also preserves a tax credit (up to $7,500) for purchasers of electric vehicles

We continue to analyze the various provisions of the legislation and will have more to communicate after the first of the year.
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Anarchy_Juiblex posted...

By keeping an extra few hundred that I worked for, the rich get to keep millions and billions that could go into the economy and maintaining govt. services?
You wonder why we think it's a bad deal?

EVRYBUDDY GET TAX CUT HURR
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Yeah it's pretty amazing the media their bosses chuck and nancy managed to convince the majority of americans tax cuts are bad. "FUCK TRUMP FOR PUTTING MORE MONEY IN MY POCKETS! NOT MY PRESIDENT!" "THE GOVERNMENT NEEDS MOAR MONEY!"

Too bad for them that they couldn't pull this off during the election.

What Republicans should have done is have optional higher tax brackets like Taxachusetts does, so everyone complaining about taxes not being high enough can put up or shut up. Optional higher rates can make even the most ardent democrats sound like republicans: https://www.realclearpolitics.com/articles/2012/04/20/warren_says_she_did_not_pay_voluntary_higher_tax.html
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Is what we get in tax cuts going to make up for decades of inflation and wage stagnation? Is it going to allow everyone to afford all their bills and to eat every night with a roof over their head?

Forgive me for not being satisfied with a half-assed bill because next year I'll get a few hundred more back. I'm not that short-sighted and self-centered like the average braindead American.

Funny how this is a topic about people being manipulated by the media, but conservative jokers are being manipulated by their party. "Someone handed you $50 bucks on the street. Now shut up and be grateful. You could not have that $50. You could be living I Africa. Don't look behind the curtain. Don't ask for anything else. They did a nice thing for you, you ungrateful child. That's all you need to know. They'll do what's best for you." I didn't know the GOP and Fox News wasted time planting people on GameFAQs.
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HypnoCoosh posted...

@The_Admiral
@thehaters

From corporate today through my employer

The U.S. Congress has passed landmark tax legislation effective January 1, 2018 that will help make blank more competitive in todays global marketplace and encourage continued investment and innovation in the United States.

Provisions that support blanks long-term investment in the United States include:

LOWER CORPORATE TAX RATE: The corporate income tax rate is permanently cut from 35 percent to 21 percent, helping put U.S. companies on a level playing field with foreign-based competitors. blanks cash tax rate in the U.S. has been low as tax credits generated under prior law have reduced its U.S. tax liability; thanks to provisions in the new tax that are favorable to U.S. manufacturers,blanks cash tax rate will remain low for the foreseeable future
PRESERVED RESEARCH CREDIT: The bill preserves a tax credit for companies investing in domestic research and development. blank spends nearly $7 billion on R&D every year, most of which is done right here in the U.S.
CAPITAL INVESTMENT INCENTIVES: The bill allows companies to write off in one year qualified capital investments made in the U.S. through 2022. Over the past five years, blank has invested more than $12 billion in its U.S. factories.
ALTERNATIVE MINIMUM TAX REPEAL : The corporate AMT is permanently repealed, allowing the above benefits to be fully realized

And for our dealers and customers:

FLOORPLAN INTEREST DEDUCTION: Auto dealers are still able to fully write off interest expense on their vehicle inventories
PURCHASE INCENTIVES: Capital investment incentives that benefit will also benefit customers that purchase vehicles for use in a trade or business; the bill also preserves a tax credit (up to $7,500) for purchasers of electric vehicles

We continue to analyze the various provisions of the legislation and will have more to communicate after the first of the year.

Well if a corporation made a bunch of promises, then you know you can trust it.
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Asherlee10 posted...

luigi13579 posted...

Asherlee10 posted...

I know I'm being entirely lazy, but is there some chart I can look at that shows my income and what sort of tax benefits I'll be receiving for 2018?

I'm not sure if it takes it account the most recent changes or is totally in-depth, but there's this:

https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html

Thanks. This says around $1500 for me. Hmm.

Apparently I'm getting $0. Sweet.
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@hockeybub89 posted...

Well if a corporation made a bunch of promises, then you know you can trust it.

What's your deal?

Not all corporations are so big bad and evil. The company I work for employees nearly 200k people globally and gives back to the community all the time.

This tax break is a good thing for the company, their employees and the community. If it was obama you would likely jizz yourself.

Why do you have to be such a jerk just because it's a Trump administration tax cut?
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I wouldn't say that "giving back to the community" is a determining factor as whether a corporation is good or evil.

All of the Big 3 Telecoms in Canada (Rogers, Bell, Telus) "give back to the community" but they are are all "evil" fucking garbage.
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wow its almost like the bill does more than just cut taxes
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I like how the article Admiral posted doesn't mention anything about what he asserts in the topic title. In fact, almost everything I've read has indicated exactly what the media that he himself posted in the OP.

How much more disingenuous could that title have possibly been?

> complains about media not mentioning tax cuts
> posts media mentioning tax cuts
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luigi13579 posted...

Asherlee10 posted...

I know I'm being entirely lazy, but is there some chart I can look at that shows my income and what sort of tax benefits I'll be receiving for 2018?

I'm not sure if it takes it account the most recent changes or is totally in-depth, but there's this:

https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html

According to this I have an $150 increase.
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HypnoCoosh posted...

@hockeybub89 posted...

Well if a corporation made a bunch of promises, then you know you can trust it.

What's your deal?

Not all corporations are so big bad and evil. The company I work for employees nearly 200k people globally and gives back to the community all the time.

This tax break is a good thing for the company, their employees and the community. If it was obama you would likely jizz yourself.

Why do you have to be such a jerk just because it's a Trump administration tax cut?

That's bullshit. I would hate Obama doing this too. I never voted for the fucker and considered Obamacare a disaster. Don't try to paint me as whatever fictional "liberal" you have in your head.

Every corporation may not be evil, but most are at least selfish given I'm constantly reminded how they only have a responsibility to shareholders and profit.

I just think it's extremely shortsighted to consider a half-assed bill an unmitigated success that has repaired America for everyone forever because people are getting a little more back when they file taxes next year. I just don't get why human beings never learn. All we see is what happened to us in the last 10 minutes. Was it good or bad! Then thing is good or bad? There's no sense of a bigger picture. This is what gets us into wars, depressions, and other bullshit.
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Temporary tax cuts, for the first year of the new tax code only, in the long run it's a tax hike. The corporate and estate cuts are permanent.
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Bio1590 posted...

I wouldn't say that "giving back to the community" is a determining factor as whether a corporation is good or evil.

All of the Big 3 Telecoms in Canada (Rogers, Bell, Telus) "give back to the community" but they are are all "evil" fucking garbage.

Comcast gives back to the community AND hasn't banned Twitter since net neutrality was repealed! What a wonderful company! Who cares about how they are one of the big telecoms who conspire to create regional monopolies, overcharge Americans for slow Internet, and try to extort more money out of websites and services? They have a veterans fund and haven't given their employees anti-raises! Appreciate them!
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hockeybub89 posted...

This is what gets us into wars, depressions, and other bulls***.

Oh jesus christ fuck gtfo with this BS.

It's like you're literally brainwashed into thinking capitalism is bad.

These tax breaks are a good thing for the US and the economy. It's good for all of us and your big bad evil corporation rhetoric is tired.

We're just going to have to agree to disagree. In the meantime I'm going to shine my ass off while Trump and his admin MAGA and the US economy prospers.

Enjoy your half empty glass.
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HypnoCoosh posted...

hockeybub89 posted...

This is what gets us into wars, depressions, and other bulls***.

Oh jesus christ fuck gtfo with this BS.

It's like you're literally brainwashed into thinking capitalism is bad.

These tax breaks are a good thing for the US and the economy. It's good for all of us your big bad evil corporation rhetoric is tired.

We're just going to have to agree to disagree. In the meantime I'm going to shine my ass off while Trump and his admin MAGA and the US economy prospers.

Enjoy your half empty glass.

*complains about brainwashing*

*Eats everything hook, line, and sinker as soon as it comes from person he agrees with*

Ok. Such a good little drone, you are. I'm sure you'll totally act the exact same when the Democrats have their next turn.
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hockeybub89 posted...

*complains about brainwashing*

*Eats everything hook, line, and sinker as soon as it comes from person he agrees with*

Ok. Such a good little drone, you are.

ok ya got me!

lulz

Like I said enjoy your half empty glass ya poor lil victim
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HypnoCoosh posted...

hockeybub89 posted...

*complains about brainwashing*

*Eats everything hook, line, and sinker as soon as it comes from person he agrees with*

Ok. Such a good little drone, you are.

ok ya got me!

lulz

Like I said enjoy your half empty glass ya poor lil victim

"Help! I am stuck in a bear trap!"

Person walks by, gives $20, walks away.

"Woohoo I have more money than I did earlier!"
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Yup because capitalism is so evil poor lil disadvantage victims like hockeybub can't get ahead in life.

"It's too hard and not fair waaahhhhhhh!!!!!"

"I need muh government subsidies and the rich evil corporations need to pay waaahhhhhh!!!"
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Hypno's losing it
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HypnoCoosh posted...

Yup because capitalism is so evil poor lil disadvantage victims like hockeybub can't get ahead in life.

"It's too hard and not fair waaahhhhhhh!!!!!"

"I need muh government subsidies and the rich evil corporations need to pay waaahhhhhh!!!"

I can't get ahead in life, but I don't blame that on capitalism. I blame it other shit. I also have an issue with America, not the nebulous concept of capitalism or capitalistic policies. Now resume your meltdown.
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Yup I'm so melty lol

Going back to my awesome life ttyl ;)

Here's some tissue to clean up your salty loser victim tears

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Such an awesome life that you spend your days melting down and getting warned on GameFAQs and believing things like Charlottesville were a false flag
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Bio1590 posted...

Such an awesome life that you spend your days melting down and getting warned on GameFAQs and believing things like Charlottesville were a false flag

"Believe the government!"

"The government orchestrated a Nazi terror protest!"
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hockeybub89 posted...

Bio1590 posted...

I wouldn't say that "giving back to the community" is a determining factor as whether a corporation is good or evil.

All of the Big 3 Telecoms in Canada (Rogers, Bell, Telus) "give back to the community" but they are are all "evil" fucking garbage.

Comcast gives back to the community AND hasn't banned Twitter since net neutrality was repealed! What a wonderful company! Who cares about how they are one of the big telecoms who conspire to create regional monopolies, overcharge Americans for slow Internet, and try to extort more money out of websites and services? They have a veterans fund and haven't given their employees anti-raises! Appreciate them!

Regional monopolies are solely created by government regulation.

Regulations are literally the problem.
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I think Hypno seriously needs to consider counseling lmao

Dude has some problems
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