The most prestigious law school admissions discussion board in the world.
|
 |
 
|
GRAPH: how Trump's tax plan will impact single-filers & married-joint filers
Poast new message in this thread
Date: January 1st, 2017 8:05 PM Author: mahogany trust fund turdskin http://m.imgur.com/I1Rkqmd (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278370) |
 |
Date: January 1st, 2017 9:26 PM Author: Ivory Violent Station Factory Reset Button This tax plan is pure shit. Don't see the need to raise the bottom bracket and the 28% bracket while eliminating the top brackets, which are historically near the low end in the context of the past 95 years. Don't cut taxes at the top unless you can do so without raising them near the bottom. Ending personal exemptions is pure shit too. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278937) |
|
Date: January 1st, 2017 9:42 PM Author: hyperactive floppy dilemma I think you're missing a lot of the details (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279038) |
|
Date: January 1st, 2017 9:45 PM Author: Ivory Violent Station Factory Reset Button Like what? No brackets should rise, period. If that's too expensive, keep the 40% bracket.
Middle class families with 2+ kids will get fucked by this plan. |
|
Date: January 1st, 2017 10:18 PM Author: painfully honest concupiscible mexican That is factually false. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279340) |
|
Date: January 2nd, 2017 7:01 AM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280956) |
|
Date: January 1st, 2017 10:02 PM Author: poppy impertinent generalized bond set like the part where trump is capping itemized deductions lmfao (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279186) |
|
Date: January 1st, 2017 10:06 PM Author: hyperactive floppy dilemma McMaster does a more detailed analysis below. It's not our job to do all the math for you (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279219) |
|
Date: January 2nd, 2017 6:58 AM Author: Ivory Violent Station Factory Reset Button His analysis is shit. When you do the math taxes actually rise for families making less than 60k or so (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280951) |
Date: January 1st, 2017 8:11 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278437) |
|
Date: January 1st, 2017 8:14 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278465) |
|
Date: January 1st, 2017 8:15 PM Author: avocado forum boiling water (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278476) |
|
Date: January 1st, 2017 8:17 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278493) |
|
Date: January 1st, 2017 8:19 PM Author: vigorous box office huge for marriedmos shitty for 2nd year biglawyers. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278527) |
|
Date: January 1st, 2017 8:20 PM Author: internet-worthy shivering indian lodge goal in life I just came in my pants (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278530) |
|
Date: January 1st, 2017 8:29 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278581) |
|
Date: January 1st, 2017 8:31 PM Author: vivacious public bath as a marriedmo making $450k+, this makes me wet (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278601) |
|
Date: January 2nd, 2017 9:32 AM Author: cerebral aqua address jewess (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281137) |
|
Date: January 1st, 2017 8:32 PM Author: vigorous box office single biglawyers getting fucked on 5% extra on the $80K between $110 and 190. Not seeing any of the benefit of the high bracket cut either.
This reduces the shit marriage penalty at the same margins which is nice. |
|
Date: January 1st, 2017 8:36 PM Author: Rough-skinned topaz national half-breed (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278643) |
|
Date: January 1st, 2017 8:33 PM Author: At-the-ready hunting ground So middle class are in the same tax bracket and poor people pay more but no longer get personal exemptions. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278622) |
|
Date: January 1st, 2017 8:35 PM Author: Lake Stock Car Boistinker Earl gets a nice break tho (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278629) |
|
Date: January 1st, 2017 8:35 PM Author: mahogany trust fund turdskin The rich get richer--that's the law of the land (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278637) |
|
Date: January 1st, 2017 8:38 PM Author: Rough-skinned topaz national half-breed Really hoping to see some more listings on Indeed due to this. Will probably shell out for LinkedIn JOB SEEKER premium. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278656) |
|
Date: January 1st, 2017 8:38 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278662) |
|
Date: January 1st, 2017 8:58 PM Author: Fuchsia Excitant Tanning Salon But it really doesn't matter for someone paying AMT right? (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278786) |
|
Date: January 1st, 2017 9:27 PM Author: Ivory Violent Station Factory Reset Button No more AMT (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278944) |
|
Date: January 1st, 2017 9:01 PM Author: painfully honest concupiscible mexican This graph is egregiously misleading. He will also increase standard deduction to $15k which has a YUGE impact on people making under $150k. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278803) |
|
Date: January 1st, 2017 9:09 PM Author: At-the-ready hunting ground Increase SD but do away with personal exemptions. Ends up hurting poor single filers with multiple kids and middle class ppl who itemize. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278848) |
|
Date: January 1st, 2017 9:16 PM Author: painfully honest concupiscible mexican Link to eliminating personal exemption?
|
|
Date: January 1st, 2017 9:26 PM Author: Ivory Violent Station Factory Reset Button http://www.bakersfield.com/bakersfield-life/money-matters-new-president-new-tax-law/article_c9db1860-da4c-5f33-abc2-124b1b0775ca.html (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278935) |
|
Date: January 1st, 2017 9:39 PM Author: painfully honest concupiscible mexican Okay so only poor families with more than 2 kids will have their total deduction/exemption lowered, and barely if they have only 3 kids. They already pay negative taxes anyway.
A family of 4 with $50k in total income will have their taxable income after the personal exemption and standard deduction now at $20k instead of around $22k now. But their marginal tax rate will be lowered from 15% to 12%. Overall they will pay less taxes.
A single person making $40k a year will now have $25k in taxable income instead of $29.5k, and their marginal tax rate will also drop. Overall they will pay less taxes.
It is ridiculous not to take that into account. |
|
Date: January 1st, 2017 9:51 PM Author: Ivory Violent Station Factory Reset Button Huge bonanza for those making $400k+, crumbs for average rust belt factory worker or white collar factory bro with a family to feed. Also your math is off. The 10% bracket is rising too, meaning the family making $50k will see a rise overall. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279106) |
|
Date: January 1st, 2017 10:02 PM Author: hyperactive floppy dilemma Do you have any idea how taxes work? Someone making 415,000 would literally see no benefit. Someone making 500,000 saves like 5,000 which means jack shit to someone making that much (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279179) |
|
Date: January 1st, 2017 10:08 PM Author: Glittery selfie Bro, the GC cocksuckers who make millions and tens of millions of dollars a year will tremendously benefit. I'm not a fan of this at all.
There is absolutely NO reason to raise any brackets while eliminating the top. |
|
Date: January 1st, 2017 10:12 PM Author: hyperactive floppy dilemma I guess. I feel like there are so few people that make 1,000,000 plus in income that are subject to this tax that it's hard to get worked up over. Plus I don't think the "increases" in the lower incomes actually turn out to be increases in overall taxes paid (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279265) |
|
Date: January 1st, 2017 10:17 PM Author: painfully honest concupiscible mexican Yeah libs are cherry picking the pieces of the plan that appear harmful but are actual better for lower income people when taking all of the new rules into account. Makes it easy for these shitheads to create an easy to read chart making the plan look bad. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279331) |
|
Date: January 1st, 2017 11:20 PM Author: Glittery selfie "Plus I don't think the "increases" in the lower incomes actually turn out to be increases in overall taxes paid."
This is the single most important factor, yet I haven't seen a truly straight answer in this thread.
I think you can agree that if ANYONE underneath the current top tax brackets ends up paying more total taxes under Trump's plan, while the $1 million+ people see a massive reduction in the taxes they pay, Trump's plan will be a tremendous failure, SPS, and more GC fraudlies.
I really hope this is not the case, and the OP just poasted some shitlib's misleading graph. But stay tuned. |
|
Date: January 2nd, 2017 6:59 AM Author: Ivory Violent Station Factory Reset Button (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280952) |
|
Date: January 1st, 2017 9:28 PM Author: fragrant claret legal warrant locus So for xo poasters its basically 33% instead of 40%? (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278951) |
|
Date: January 1st, 2017 9:38 PM Author: hyperactive floppy dilemma The amount of people on here making 415,000+ is tiny, nevermind that the tax benefit is only on the dollars you make over 415,000. Very few people here benefit (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279009) |
|
Date: January 1st, 2017 9:38 PM Author: internet-worthy shivering indian lodge goal in life I am still rock hard. JFC. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279011) |
|
Date: January 1st, 2017 9:40 PM Author: hyperactive floppy dilemma How much do you make? (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279028) |
|
Date: January 1st, 2017 9:45 PM Author: internet-worthy shivering indian lodge goal in life This year household income was a little less than 700k. I made partner this year so my income will rise by 200k or more next year. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279062) |
|
Date: January 1st, 2017 9:50 PM Author: hyperactive floppy dilemma I mean, isn't that about 35,000 extra? It's nice but nothing to really care that much about (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279102) |
|
Date: January 1st, 2017 9:52 PM Author: fragrant claret legal warrant locus Well give me your $35,000 then (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279115) |
|
Date: January 1st, 2017 9:56 PM Author: hyperactive floppy dilemma Well this is one of the dumber replies I've ever encountered (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279142) |
|
Date: January 1st, 2017 10:00 PM Author: internet-worthy shivering indian lodge goal in life ljl. That's nearly private school for two kids where I live dude. It's a fuckton of money over 4-8 years. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279166) |
|
Date: January 1st, 2017 10:01 PM Author: fragrant claret legal warrant locus That's almost exactly private school for two kids where I live (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279170) |
|
Date: January 1st, 2017 10:04 PM Author: internet-worthy shivering indian lodge goal in life Same. Ours is 18.5k per kid. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279206) |
|
Date: January 1st, 2017 10:09 PM Author: fragrant claret legal warrant locus Ours is $24K australian per kid = about $17K US (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279240) |
|
Date: January 1st, 2017 10:04 PM Author: hyperactive floppy dilemma Well I didn't factor in being dumb enough to pay 35,000 to send your kids to school (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279205) |
|
Date: January 1st, 2017 10:06 PM Author: internet-worthy shivering indian lodge goal in life Buddy, where I live, there's really no choice. Either cast your kids down with wild animals or send them private. But even private school aside, $35000 in after tax income is a ton of money. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279220) |
|
Date: January 1st, 2017 10:14 PM Author: hyperactive floppy dilemma I make half your household income and wouldn't even notice 35,000 but maybe we have different spending habits. Not saying I wouldn't want 35,000 extra, just that it would never matter enough to get excited over (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279286) |
|
Date: January 1st, 2017 10:17 PM Author: internet-worthy shivering indian lodge goal in life sure pal. I believe you. 140k over four years is definitely worth get excited over. Even at my income. You seem dumb. Actually, I take that back, you seem dishonest. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279329) |
|
Date: January 1st, 2017 10:28 PM Author: hyperactive floppy dilemma Sorry, taking home 24,000 vs 21,500 isn't going to make my life any better. I also don't do dumb things like paying $250,000 a kid for their high school diplomas. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279425) |
|
Date: January 1st, 2017 10:30 PM Author: internet-worthy shivering indian lodge goal in life But you do make retarded arguments on the internet, so at least you have that. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279444) |
|
Date: January 1st, 2017 10:50 PM Author: Impressive mustard point digit ratio (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279579) |
|
Date: January 1st, 2017 11:11 PM Author: hyperactive floppy dilemma http://www.xoxohth.com/thread.php?thread_id=3226287&mc=76&forum_id=2#30498550
LOL you dumb coon |
|
Date: January 1st, 2017 10:21 PM Author: Razzmatazz honey-headed puppy I wouldn't even notice 35 grand
(Xo poa |
|
Date: January 1st, 2017 10:50 PM Author: Impressive mustard point digit ratio (XO 2017) (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279576) |
|
Date: January 1st, 2017 10:13 PM Author: Infuriating titillating private investor (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279273) |
|
Date: January 1st, 2017 10:16 PM Author: hyperactive floppy dilemma Just spend $500,000 to get your two kids high school educations, bro! (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279313) |
|
Date: January 2nd, 2017 9:35 AM Author: cerebral aqua address jewess Gitmo is right (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281144) |
|
Date: January 1st, 2017 9:33 PM Author: Fluffy Base don't forget dat health insurance tax credit (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32278980) |
|
Date: January 1st, 2017 9:57 PM Author: At-the-ready hunting ground Also say goodbye to additional medicare tax. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279146) |
|
Date: January 1st, 2017 10:03 PM Author: Heady Awkward Lettuce No change for me. 33% bracket (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279192) |
|
Date: January 1st, 2017 10:11 PM Author: Amber disrespectful theater stage chad i think just looking at the graph, that red arrow portion that will hit a lot of us around here, isn't really as bad as it looks there is about 17,000 net $ up to 37,500 that is being taxed 3% less than now; there is 21,000 that is being taxed 3% less than now in the $100k range so, the 112,500k and up range isn't going to be worse off being taxed 5% higher until you are probably like at 140k per year? |
|
Date: January 1st, 2017 10:25 PM Author: painfully honest concupiscible mexican Basically when you take into account the lower tax amount for income below $112,000 and the larger standard deduction, no one will pay higher taxes at all except people who have a lot to itemize and families with a lot of kids. On second though, the $140k-to $190k area may pay slightly more. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32279400) |
|
Date: January 2nd, 2017 2:37 AM Author: electric elite temple Why the fuck is Trump tinkering with the number of brackets?
Is it so he can appeal to proles and claim that he's "simplifying" the tax code (albeit an infinitesimally small portion)?
It reeks of naked obfuscation. |
|
Date: January 2nd, 2017 2:42 AM Author: Glittery selfie If this graph is accurate, and I hope it's not, GC fraudlies is the only conclusion to be drawn from his proposed plan.
This would be a very concerning sign. |
|
Date: January 2nd, 2017 6:42 AM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280945) |
|
Date: January 2nd, 2017 7:06 AM Author: sexy business firm 180 (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280959) |
|
Date: January 2nd, 2017 7:52 AM Author: frozen personal credit line But don't forget that he's going to cut a number of deductions and personal exemptions which may push you into a higher bracket. He's said he wants to cut the mortgage interest deduction which would fuck me. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32280994) |
|
Date: January 2nd, 2017 9:30 AM Author: Adventurous main people senate The mortgage interest deduction is completely indefensible. I say that someone who greatly benefits from it. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281134) |
|
Date: January 2nd, 2017 9:32 AM Author: comical green really tough guy It's also not going anywhere. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281135) |
|
Date: January 2nd, 2017 9:33 AM Author: frozen personal credit line Of course. But fuck boomers who benefited pulling the ladder up from after them. If he does this, he's a typical boomer fuck. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281138) |
|
Date: January 2nd, 2017 9:27 AM Author: Lascivious unhinged ticket booth pistol Rate would make no difference for me but eliminating the AMT would be huuuge, even with the proposed overall cap on deductions. Save me $15-20k. (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281121) |
|
Date: January 2nd, 2017 12:41 PM Author: mahogany trust fund turdskin (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281852) |
|
Date: January 2nd, 2017 9:39 AM Author: cerebral aqua address jewess I'm like gitmo and think it comes out to like a 28% effective rate. Without deductions. Is that right (http://www.autoadmit.com/thread.php?thread_id=3478690&forum_id=2#32281159) |