Author Topic: Taxes (GOP 2017 edition)  (Read 137682 times)

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Offline K-S-U-Wildcats!

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Re: Taxes (GOP 2017 edition)
« Reply #250 on: November 05, 2017, 09:14:55 AM »
Biggest losers:

Graduate students
HENRYs with professional degree student loans and expensive homes

Like I said, this tax cut is almost specifically designed to hurt KSUW and he is still cheering it to "own the libs" it is such a perfect example of how broken his brain is.

Cheering it? I'm pretty disappointed in what this does for me personally. But it does help a ton of people - that can't be denied. It could also indirectly help me by further boosting the economy and my investments.

I suspect the student loan thing is going to impact a very small slice of people. The vast majority of people with a lot of student loan debt will likely be more than covered by the doubling of the standard deduction. As you get older, wealthier, and incur more itemized deductions to surpass the standard deduction, you typically pay off your student loans (unless you don't, and that's on you).
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #251 on: November 05, 2017, 09:21:30 AM »
I'd bet Neither the student loan interest nor the mortgage deduction reduction would apply to ksu.
« Last Edit: November 05, 2017, 09:25:30 AM by Dugout DickStone »

Offline Kat Kid

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Re: Taxes (GOP 2017 edition)
« Reply #252 on: November 05, 2017, 09:23:11 AM »
Biggest losers:

Graduate students
HENRYs with professional degree student loans and expensive homes

Like I said, this tax cut is almost specifically designed to hurt KSUW and he is still cheering it to "own the libs" it is such a perfect example of how broken his brain is.

Cheering it? I'm pretty disappointed in what this does for me personally. But it does help a ton of people - that can't be denied. It could also indirectly help me by further boosting the economy and my investments.

I suspect the student loan thing is going to impact a very small slice of people. The vast majority of people with a lot of student loan debt will likely be more than covered by the doubling of the standard deduction. As you get older, wealthier, and incur more itemized deductions to surpass the standard deduction, you typically pay off your student loans (unless you don't, and that's on you).

It taxes any grad student on a stipend. So, for instance, when I was getting a stipend and tuition assistance for my undergraduate degree through an academic scholarship?  That is now taxable income. My wife who had a stipend and tuition waiver for her Ph.D? Now taxed as income.

All TA's, Graduate Assistants, Post-Docs etc. will now have their stipends and scholarships taxed as income. If it stays in, it will be a disaster for graduate research and a huge de facto cut for higher ed in an environment where states have almost stopped funding higher ed anyways.

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #253 on: November 05, 2017, 09:26:23 AM »
Kstate 2025!  All private!

Offline steve dave

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Re: Taxes (GOP 2017 edition)
« Reply #254 on: November 05, 2017, 09:54:01 AM »
if I'm reading this thing correctly the proposed mortgage interest and property tax changes would only apply for newly purchased homes so if you already own then you get grandfathered in. and it only applies for mortgages over $500k and property tax over $10k. so most HENRYs won't be impacted because they can't afford that much home anyway. and the student loan stuff wouldn't apply to them either because you can't deduct that if you earn more than $80k single/$160k married filing joint.

Offline steve dave

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Re: Taxes (GOP 2017 edition)
« Reply #255 on: November 05, 2017, 09:54:50 AM »
also, from what I can see, this "tax cut" bill doesn't really cut much tax. what a waste of time.

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #256 on: November 05, 2017, 10:06:28 AM »
if I'm reading this thing correctly the proposed mortgage interest and property tax changes would only apply for newly purchased homes so if you already own then you get grandfathered in. and it only applies for mortgages over $500k and property tax over $10k. so most HENRYs won't be impacted because they can't afford that much home anyway. and the student loan stuff wouldn't apply to them either because you can't deduct that if you earn more than $80k single/$160k married filing joint.

Hence my thoughts on kazz dub

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #257 on: November 05, 2017, 10:08:20 AM »
Will the pass through rate impact members of an LLC that owns a wildly successful ksu msg bd?

 :Ugh:

Offline Kat Kid

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Taxes (GOP 2017 edition)
« Reply #258 on: November 05, 2017, 11:22:42 AM »
if I'm reading this thing correctly the proposed mortgage interest and property tax changes would only apply for newly purchased homes so if you already own then you get grandfathered in. and it only applies for mortgages over $500k and property tax over $10k. so most HENRYs won't be impacted because they can't afford that much home anyway. and the student loan stuff wouldn't apply to them either because you can't deduct that if you earn more than $80k single/$160k married filing joint.

This thing is probably hardest on HENRY doctors. And while the grandfather thing is true enough, it hurts home values.


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Offline sys

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Re: Taxes (GOP 2017 edition)
« Reply #259 on: November 05, 2017, 11:36:20 AM »
it doesn't really eff anyone, it's just a big deficit financed stimulus package at a time when unemployment stands at 4%.
"experienced commanders will simply be smeared and will actually go to the meat."

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #260 on: November 05, 2017, 12:10:20 PM »
if I'm reading this thing correctly the proposed mortgage interest and property tax changes would only apply for newly purchased homes so if you already own then you get grandfathered in. and it only applies for mortgages over $500k and property tax over $10k. so most HENRYs won't be impacted because they can't afford that much home anyway. and the student loan stuff wouldn't apply to them either because you can't deduct that if you earn more than $80k single/$160k married filing joint.

This thing is probably hardest on HENRY doctors. And while the grandfather thing is true enough, it hurts home values.


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Docs likely make too much to deduct loan interest anyway right?

Offline star seed 7

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Re: Taxes (GOP 2017 edition)
« Reply #261 on: November 05, 2017, 12:52:46 PM »
it doesn't really eff anyone, it's just a big deficit financed stimulus package at a time when unemployment stands at 4%.

This
Hyperbolic partisan duplicitous hypocrite

Offline K-S-U-Wildcats!

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Re: Taxes (GOP 2017 edition)
« Reply #262 on: November 05, 2017, 01:15:35 PM »
I'd bet Neither the student loan interest nor the mortgage deduction reduction would apply to ksu.

Correct. I have a mortgage under 500k and used my grad school loans to get a good paying job to pay them off in about 5yrs.
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

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Re: Taxes (GOP 2017 edition)
« Reply #263 on: November 05, 2017, 01:17:08 PM »
Remember when kdub had an all time classic meltdown because Obama changed something and he had a $200 tax increase and was worried he might not be able to put food on the table for his brood?  :lol:
Hyperbolic partisan duplicitous hypocrite

Offline chum1

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Re: Taxes (GOP 2017 edition)
« Reply #264 on: November 05, 2017, 01:21:55 PM »
How did he come out of grad school still so dumb? MBA? Geez.

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Re: Taxes (GOP 2017 edition)
« Reply #265 on: November 05, 2017, 01:56:26 PM »
it doesn't really eff anyone, it's just a big deficit financed stimulus package at a time when unemployment stands at 4%.

This

Yep. Why so many conservatives are ok with adding 1.5 trillion to the deficit in order to create jobs is baffling to me. It’s like exactly the kind of thing Republicans are supposed to be against.

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Re: Taxes (GOP 2017 edition)
« Reply #266 on: November 05, 2017, 01:58:24 PM »
it doesn't really eff anyone, it's just a big deficit financed stimulus package at a time when unemployment stands at 4%.

This

Yep. Why so many conservatives are ok with adding 1.5 trillion to the deficit in order to create jobs is baffling to me. It’s like exactly the kind of thing Republicans are supposed to be against.

They think trickle down works (que fsd)
Hyperbolic partisan duplicitous hypocrite

Online Dugout DickStone

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Re: Taxes (GOP 2017 edition)
« Reply #267 on: November 05, 2017, 04:07:30 PM »
I'd bet Neither the student loan interest nor the mortgage deduction reduction would apply to ksu.

Correct. I have a mortgage under 500k and used my grad school loans to get a good paying job to pay them off in about 5yrs.

I am almost always right.

Online catastrophe

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Re: Taxes (GOP 2017 edition)
« Reply #268 on: November 05, 2017, 04:17:02 PM »
it doesn't really eff anyone, it's just a big deficit financed stimulus package at a time when unemployment stands at 4%.

This

Yep. Why so many conservatives are ok with adding 1.5 trillion to the deficit in order to create jobs is baffling to me. It’s like exactly the kind of thing Republicans are supposed to be against.

They think trickle down works (que fsd)

It really doesn’t even matter if it does work. The government is still cutting a massive check to redistribute wealth. It just seems crazy to me as a job creating tool.

Offline star seed 7

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Re: Taxes (GOP 2017 edition)
« Reply #269 on: November 05, 2017, 04:18:50 PM »
The point of this is to reduce the corporate tax rate because they think trickle down works
Hyperbolic partisan duplicitous hypocrite

Offline Kat Kid

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Re: Taxes (GOP 2017 edition)
« Reply #270 on: November 05, 2017, 05:19:17 PM »
if I'm reading this thing correctly the proposed mortgage interest and property tax changes would only apply for newly purchased homes so if you already own then you get grandfathered in. and it only applies for mortgages over $500k and property tax over $10k. so most HENRYs won't be impacted because they can't afford that much home anyway. and the student loan stuff wouldn't apply to them either because you can't deduct that if you earn more than $80k single/$160k married filing joint.

This thing is probably hardest on HENRY doctors. And while the grandfather thing is true enough, it hurts home values.


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Docs likely make too much to deduct loan interest anyway right?

yeah you are right.

Online catastrophe

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Re: Taxes (GOP 2017 edition)
« Reply #271 on: November 05, 2017, 05:22:47 PM »
I’m sure they don’t during residency.

Offline K-S-U-Wildcats!

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Re: Taxes (GOP 2017 edition)
« Reply #272 on: November 05, 2017, 05:42:22 PM »
Biggest losers:

Graduate students
HENRYs with professional degree student loans and expensive homes

Like I said, this tax cut is almost specifically designed to hurt KSUW and he is still cheering it to "own the libs" it is such a perfect example of how broken his brain is.

Cheering it? I'm pretty disappointed in what this does for me personally. But it does help a ton of people - that can't be denied. It could also indirectly help me by further boosting the economy and my investments.

I suspect the student loan thing is going to impact a very small slice of people. The vast majority of people with a lot of student loan debt will likely be more than covered by the doubling of the standard deduction. As you get older, wealthier, and incur more itemized deductions to surpass the standard deduction, you typically pay off your student loans (unless you don't, and that's on you).

It taxes any grad student on a stipend. So, for instance, when I was getting a stipend and tuition assistance for my undergraduate degree through an academic scholarship?  That is now taxable income. My wife who had a stipend and tuition waiver for her Ph.D? Now taxed as income.

All TA's, Graduate Assistants, Post-Docs etc. will now have their stipends and scholarships taxed as income. If it stays in, it will be a disaster for graduate research and a huge de facto cut for higher ed in an environment where states have almost stopped funding higher ed anyways.

Wait, so if I'm reading this right, you're pissed that you might have to start paying taxes on your income?

Tell you what: start paying 20% federal income tax on your income and then you can come bitch to me.
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Offline Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)

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Re: Taxes (GOP 2017 edition)
« Reply #273 on: November 05, 2017, 06:09:29 PM »
Nobody gets more upset about how much taxes someone else is paying than the libtard who doesn't pay any taxes.
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Offline gatoveintisiete

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Re: Taxes (GOP 2017 edition)
« Reply #274 on: November 05, 2017, 06:38:17 PM »
This thread would be a lol riot with 2016 fed taxes paid next to each posters name
it’s not like I’m tired of WINNING, but dude, let me catch my breath.