Taxes (GOP 2017 edition)

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

The red boxes indicate paying more taxes. I know comprehension is hard for you FSD so I’m trying to be helpful.

No it means less refund. Those people have a negative income tax rate, fucktard

So less refund would mean you are being taxed more, yes?

If your income tax liability is zero dollars under both scenarios, how are your taxes going up, fucktard?

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

Can't believe Trump decided to pass this tax bill instead of passing a tax bill that will end generational poverty.   

 

[The Big Train]

The red boxes indicate paying more taxes. I know comprehension is hard for you FSD so I’m trying to be helpful.

No it means less refund. Those people have a negative income tax rate, fucktard

So less refund would mean you are being taxed more, yes?

If your income tax liability is zero dollars under both scenarios, how are your taxes going up, fucktard?

You only get a refund if you paid too much in taxes. So if you don’t get as big of refund you are paying more in taxes. Like I said, I know comprehension is hard for you.

[K-S-U-Wildcats!]

Thanks for taking over for a bit FSD. I went to see a movie and when I got back this thread went full Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!). That chart! I for one am appalled that people who currently pay no FIT might not get as big of a "refund."

[K-S-U-Wildcats!]

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

That's Wyden, not Shumer. I'll try to find some video of him melting down.

oh no you misunderstood my post i think

His mental capacity is severely lacking.

Oh no I understood exactly what you were doing. I just reinterpreted it to take another dig at Wyden.

[K-S-U-Wildcats!]

Why are you ridiculing someone's physical appearance? I don't understand the point.

It's not really about his physical appearance. Or not just about that. If I saw Wyden walking down the street I would just think "there's a dude with a really terrible haircut." But if you then listen to him talk... from a lectern on the Senate floor... it really hits home: This moron is a US Senator. Let me see if I can dig up a video from last night. It was a treat.

[K-S-U-Wildcats!]

I was gonna dig up more quotes of liberals losing their crap over letting people keep more of their money (and poor people getting to keep less of other people's money), but the liberal posters here seem to be providing excellent fodder.

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

I'm pretty sure the big tuck genuinely does not understand the income tax system.

That Chris Hayes tweet was lol fucktarded

[The Big Train]

I'm pretty sure the big tuck genuinely does not understand the income tax system.

That Chris Hayes tweet was lol fucktarded

I’d love to read you trying to explain it.

[K-S-U-Wildcats!]

Did they make this thing apply to this year’s taxes?

Sadly almost positive it is not retroactive.

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

I'm pretty sure the big tuck genuinely does not understand the income tax system.

That Chris Hayes tweet was lol fucktarded

I’d love to read you trying to explain it.

Google EIC. Prepare to have your mind blown.

[K-S-U-Wildcats!]

I'm pretty sure the big tuck genuinely does not understand the income tax system.

That Chris Hayes tweet was lol fucktarded

I’d love to read you trying to explain it.

Google EIC. Prepare to have your mind blown.

Why do you tease him like that? The minute he googles that he's gonna mostly see a lot of liberals bitching about how this bill effs the poors.

[wetwillie]

so this thing is projected to add 1 trillion to the national debt huh?

[michigancat]

Reagan called the EITC "the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress”

[Phil Titola]

What spending we going to cut now?

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

I don't think the EIC is going away, it's just one of many examples of how people who don't pay income taxes get refunds. Trying to educate the libtarded is yeomans work.

[Dugout DickStone]

So how's my pass through LLC profits looking?

[sys]

So how's my pass through LLC profits looking?

there's no way to know, yet.  they have to reconcile.

[Dugout DickStone]

 

[sys]

i don't think pass-throughers like you and i would benefit regardless, but i'm very far from sure.  i haven't seen anything that well explains the senate details.

[Dugout DickStone]

I mean, lowering the rate would benefit

[sys]

right, but i think we're still excluded.

[star seed 7]

Lower taxes on pass-through business income: Most U.S. businesses are set up as pass-throughs, not corporations. That means their profits are passed through to the owners, shareholders and partners, who pay tax on them on their personal returns under ordinary income tax rates.

Both the House and Senate bills lower taxes on the business portion of a filer's passthrough income.

The House bill dropped the top income tax rate to 25% from 39.6%, while prohibiting anyone providing professional services (e.g., lawyers and accountants) from taking advantage of the lower rate. It also phases in a lower rate of 9% for businesses that earn less than $75,000.

The Senate bill lowers taxes on filers in pass-throughs by letting them deduct 23% of their income, up from 17.4% originally.

The 23% deduction would be prohibited for anyone in a service business -- except those with taxable incomes under $500,000 if married ($250,000 if single).

Prevent abuse of pass-through tax break: If the owner or partner in a pass-through also draws a salary from the business, that money would be subject to ordinary income tax rates.

But to prevent people from recharacterizing their wage income as business profits to get the benefit of the pass-through deduction, the Senate bill would automatically limit the deduction to half of the W-2 wages of the pass-through entity or its share to the individual taxpayer. The W-2 rule would not apply, however, if the filer's taxable income is under $500,000 if married, $250,000 if single.

[sys]

if this explanation is correct, it sounds like the senate version would benefit me (and presumably dugout).

https://www.forbes.com/sites/greatspeculations/2017/11/27/senates-five-haircuts-on-the-tax-deduction-for-pass-through-entities/#4967c0891fde

[K-S-U-Wildcats!]

I'm happy for you guys!