Tax Bill

[phipps66]

The tax plan is pretty good bad for me. Lessens Increases my tax rate and increases my income that can't can be taxed.

I don't get why so many people don't want me and people like me to have some relief but to be honest, I don't care anymore. I'm tired of being told that deadbeats rich folks deserve more than me.

Fixed it to fit my situation. Blue stater who itemizes up in dis.

 

[sub_thug]

The obvious thing people will do to get around fifo is set up accounts at different brokerage accounts and buy shares in the the different accounts at different times.

The challenge will be managing dividends

 

[Gandhi]

The tax bill has so many things wrong with it.

It basically is Taking out a loan to give the shareholder class a break.

With unemployment rates where they are it does not make sense to run up the deficit.

Agreed. And at least lenders could look at the leverage of the company and make a decision with eyes wide open as to the risk.

Here we are saying lets leverage up when any sane economist would say a) its a bad time b) its not the right way

Rather than build infrastructure during a recession we are redistributing wealth from the poor to the rich during a relative boom.

Madness, I tell ya.

 

[Quipling]

Agreed. And at least lenders could look at the leverage of the company and make a decision with eyes wide open as to the risk.

Here we are saying lets leverage up when any sane economist would say a) its a bad time b) its not the right way

Rather than build infrastructure during a recession we are redistributing wealth from the poor to the rich during a relative boom.

Madness, I tell ya.

Out of curiosity, would it be better to buy shares before the tax plan hits or after?

 

[Gandhi]

Out of curiosity, would it be better to buy shares before the tax plan hits or after?

That is always going to be a crap shoot.

The question you have to ask is
a) Do corp see it positive - yes
b) has that already been factored into the market price - yes
c) Do you think the plan has a higher chance of being passed than what the market has already factored in? - answer is who fucking knows

If it passes in the current form or a more corporate friendly form then you will make an increase, sure. If not or in a worse form, you will lose.

By how much? Hard to say.

 

[Quipling]

That is always going to be a crap shoot.

The question you have to ask is
a) Do corp see it positive - yes
b) has that already been factored into the market price - yes
c) Do you think the plan has a higher chance of being passed than what the market has already factored in? - answer is who fucking knows

If it passes in the current form or a more corporate friendly form then you will make an increase, sure. If not or in a worse form, you will lose.

By how much? Hard to say.

I didn't mean in terms of hoping for a price rise. I meant in terms of tax-related issues.

 

[Gandhi]

I didn't mean in terms of hoping for a price rise. I meant in terms of tax-related issues.

Same thing

oh wait you mean as an individual sorry lol

layman's guess is no impact, if the tax rate on capital gains or estates etc comes down i dont think it matters when you bought

 

[kpt018]

Same thing

oh wait you mean as an individual sorry lol

layman's guess is no impact, if the tax rate on capital gains or estates etc comes down i dont think it matters when you bought

Unless there were changes in conference there was no change to the capital gains rates and the estate tax threshold is expected to double.

We'll see what survives conference.

@Quipling

 

[kpt018]

Also, if there was serious medicare reform and they repeal the ACA they should actually get rid of the investment tax on capital gains. They'll only benefit you if you have really large gains and I don't support it, but I can see that change happening if Ryan had his way.

 

[Shoemaker]

Give the man his 4 years and ideas to make America better.

That's the magic of the u.s.

If it's a failure or you don't like results you can vote again.

Let's check back in 3 years

What are the other options? Are people only allowed to have opinions during election season?

 

[Bloodworth]

What are the other options? Are people only allowed to have opinions during election season?

Of course people can have opinions, but today people are too obsessed with politics, it's unhealthy.

Support your president which ultimately makes the country stronger and United.

If he fails give him his fair lashing , but people can't even wait a year?

 

[KONG-D'SNT-TAP]

The tax plan is pretty good for me. Lessens my tax rate and increases my income that can't be taxed.

I don't get why so many people don't want me and people like me to have some relief but to be honest, I don't care anymore. I'm tired of being told that deadbeats deserve more than me.

How is you tax rate being reduced?

There was a thread not long ago where you were complaining about the ACA and that you refused to purchase it because you thought it was expensive for your family.

@Revolver was in the thread discussing with you as well. You were complaing about a really cheap price for your families healthcare.

So I don't know what to make of this post.

 

[Limbo Pete]

I just read that there's some language in the bill that screws over companies with the corporate AMT, resulting in them essentially paying hundreds of billions more in taxes than expected and offsetting the benefits that come from a cut in rates.

If both of these things are accurate, the GOP is doubling down on their f' ups. They rushed the bill and didn't give anyone else time to proofread it....but it doesn't look like they did a good job of reading it or writing it.

The hand scribbled add-ons were a big ol red flag there lol

 

[7437]

Of course people can have opinions, but today people are too obsessed with politics, it's unhealthy.

Support your president which ultimately makes the country stronger and United.

If he fails give him his fair lashing , but people can't even wait a year?

Why? He is fucking up now, not in a year.

 

[Bloodworth]

Why? He is fucking up now, not in a year.

Economy, stock market and job creation is doing well....

 

[BlacknBlue]

So just so I am clear as I am following this thread:

Is the bill bad for investors because it applies a pretty straightforward FIFO rule when selling their stock holdings? Or is the whole bill a handout for investors at the expense of the working class? Which narrative are we supposed to be applying here to go after the bill? Or is it one narrative for one audience and a different narrative for another?

 

[Seano]

How is you tax rate being reduced?

There was a thread not long ago where you were complaining about the ACA and that you refused to purchase it because you thought it was expensive for your family.

@Revolver was in the thread discussing with you as well. You were complaing about a really cheap price for your families healthcare.

So I don't know what to make of this post.

It goes from 15% to 12% I believe and much more of my income is non taxed. Child tax credit bump is a drop in the bucket but its another boost.

I get insurance through my employer. My gripe was how much my coverage costs my employer. More than I would ever spend on health care without insurance, by a huge margin.

 

[aitkenmike]

No one could possibly see this coming from a secretly drafted, rushed through bill! Why bother with select committees when you can just write unreadable shit in the margin and vote on it.

https://www.wsj.com/articles/the-ta...ginal-rates-could-top-100-for-some-1512942118

TL/DR - senate bill has a marginal tax rate of more than 100% at some levels of income in some states. i.e. Over a certain level of income, every $1 you earn costs you more than $1 in tax!