GOP Tax Bill: Senate bill approved 1am 12/20; House bill approved; POTUS signs bill into law

Discussion in 'Higher Learning' started by The Black Panther, Oct 26, 2017.

  1. 88m3

    88m3 Fast Money & Foreign Objects

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    unless you live in a red state I doubt it
     
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  2. FAH1223

    FAH1223 Go Wizards, Go Terps, Go Packers! Staff Member Hall of Fame

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  3. 88m3

    88m3 Fast Money & Foreign Objects

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    they really fukked up if they thought this would fly
     
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  4. 88m3

    88m3 Fast Money & Foreign Objects

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  5. charknicks

    charknicks All Star

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    Yeah, I do. My bad, was at work.

    Married people,
    -If you make less then $76k, your taxes will go UP.
    -$76k-$90k, your taxes go DOWN.
    -$90k-$153k, your taxes go UP
    -$153k- $233k, your taxes stay the SAME
    -$233k-$260k, your taxes go DOWN
    -$260k- $470k, your taxes go UP

    Overall, not a good look for probably 3/4 of the country
     
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  6. mastermind

    mastermind Rest In Power Kobe

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    Feudalism :blessed:
     
  7. hashmander

    hashmander Ro-Na Supporter

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    [​IMG]
     
  8. Black Panther

    Black Panther King of Wakanda Hall of Fame Supporter

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  9. Killah Ray

    Killah Ray Carolina hail to thee....

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    Bruh I just might slash the tires on the next car I see with a Trump sticker...
     
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  10. ♛ ★ ⋯ Éminence grise

    ♛ ★ ⋯ Éminence grise The Original Hall of Shame Supporter WOAT

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    :laff:




    :mjlol:
     
  11. 88m3

    88m3 Fast Money & Foreign Objects

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  12. DEAD7

    DEAD7 Veteran Hall of Fame Supporter

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    Small business's want to be included in the cut...:ehh: not sure how they didn't see this coming.
     
  13. Reality

    Reality Make your own luck.

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    This is inaccurate breh. You have to apply the tax rates on a marginal basis. You can’t just look at the marginal income levels.

    If your’e single, dont own a home, and have good income, you’re more or less coming out ahead on this before any deduction considerations.

    Not to say it’s good policy, but I’m coming to out ahead to the tune of about $13k, effective tax rate nearly halved.
     
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  14. 88m3

    88m3 Fast Money & Foreign Objects

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    are you considering the loss of local and state deduction? :francis:
     
  15. charknicks

    charknicks All Star

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    I was just comparing the basic tax chart at the beginning of the income tax return. Of course, everyones situation is different. It will depend on what other deductions a person has. More then likely, people have kids so they will have less deductions given. Might be good for you, you may fall in one of those sweet spots. Most of America wont be so lucky
     

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