Winning: President Donald Trump Signs Historic Tax Cut Bill

[Anonymous 7]

http://www.breitbart.com/big-government/2017/12/22/winning-president-donald-trump-signs-historic-tax-cut-bill/

Trump told reporters that he was going to wait until January to sign the bill, but that he was intent on keeping his promise to the American people to sign it by Christmas.

“I watched the news this morning and they were all saying, ‘Will he keep his promise, will he sign it by Christmas?’ … and I called downstairs and said, ‘Get it ready, we have to sign it now,’” Trump said.

JUST IN: President Trump signs GOP tax bill into law pic.twitter.com/8Di6VuiZlu

— NBC News (@NBCNews) December 22, 2017

{Edit: For your viewing pleasure…… Leftard Heads Explode}

[MarketWatcherParticipant]

Love it. MAGA!!!

Thank you for keeping you promises President Trump!

[Anonymous 7]

MarketWatcher wrote:

Thank you for keeping you promises President Trump!

Indeed. If you agree with his agenda or not you have to admit that he is racking up campaign promises kept.

[Anonymous 14]

Anonymous wrote:

Market~~~cher wrote:

Thank you for keeping you promises President Trump!

Indeed. If you agree with his agenda or not you have to admit that he is racking up campaign promises kept.

I think he has also broken enough that he may not get re-elected though. I am going to go out on a limb here after only the first year and say he does not get a second term. (don’t get the wrong idea and think I want a Democrat in office though)

[ResidentEvil7Participant 9553]

That’s a Christmas gift to America from the president.

https://themanszone.webs.com/

[MarketWatcherParticipant]

Anonymous wrote:

I think he has also broken enough that he may not get re-elected though. I am going to go out on a limb here after only the first year and say he does not get a second term. (don’t get the wrong idea and think I want a Democrat in office though)

I am inclined to agree, but I hope not.

[Anonymous 42]

But what’s gonna happen to me??? I need money too! First section 8 housing then this! And not to mention MGTOW burning the other end of the bridge? What the f~~~’s gonna happen to ME????

[JVBParticipant]

Dig it !! Congrats Trump. The Dow going up so fast makes me a little nervous though. Perhaps Venom can set me straight.

Peace is > piece.

[Anonymous 7]

Anonymous wrote:

I think he has also broken enough that he may not get re-elected though. I am going to go out on a limb here after only the first year and say he does not get a second term

He may be one and done or may not be.
He wasn’t supposed to be POTUS at all.

First he was mocked and called a clown. He was accused of running as a publicity stunt (maybe it was idk).

Then came the usual smears……
He is racist, doesn’t like brown people, doesn’t like the deviants etc. Even called him a sexual predator.

Then he won the nomination and the attacks came from all sides.
The political establishment, the media empires, academia, feminazis, world leaders, the FBI and assorted spook agencies, the green tards…. Yet in spite of all this he racks up wins.

Honestly he wasn’t my first choice. He won the nomination so I started to pay attention. I feared he was just saying s~~~ like all politicians do.

The tax cuts may or may not benefit me, time will tell but it is about f~~~ing time that taxes were lowered.

[HitmanParticipant]

the parts of this reform that will apply to me are AWESOME.
unbelievable.
when i file my taxes early next year the proof will be in the $$$$$$$$$$$$$$$!!!!!!!!!!!!!!!!
i don’t care about anything but MY wallet.
TRUMP FOR THE WIN !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hahahahahaha!!!!!!!!
I’ll be laughing ALL the way to the BANK !!!

[SolidParticipant 7520]

Can someone explain it in a simple way for someone who isn’t american ?

[743 roadmasterParticipant]

Now all of the rich and useless liberal are really going to have to pay some taxes. Going to be interesting to watch California and the like no longer able to deduct state and local taxes from federal taxes.

Well Nancy I bet all of your liberal donor friends are all of a sudden not so liberal with that money.

mgtow is its own worst enemy- https://www.campusreform.org/

[OldBillParticipant]

Solid wrote:

Can someone explain it in a simple way for someone who isn’t american ?

That would next to impossible because the US federal tax is a byzantine mess and purposely so. For several decades, Congress has added, changed, and rewritten portions of the code to bribe voters, reward supporters, and payoff lobbyists. The system is nearly beyond reform or understanding. That being said and among other changes, the new plan:

– Cut the basic corporate tax rate from ~35% to ~20%.
– Removed several deductions used by corporations.
– Closed the “pass through corporation” loophole which some people had used to avoid higher personal income brackets.
– Reduced the personal income tax brackets from 7 to 4.
– Increased the personal and child deductions.
– Changed how alimony is taxed. You can no longer deduct alimony from your taxes if you pay it, but you no longer taxes on alimony you receive it.
– No more federal deductions for state taxes. This is the provision the Democrats are really screaming about because it strikes right at the heart of the highly-taxed blue states they control.

You notice that deductions and changes to deduction are part of most of this. The federal income tax isn’t calculated on how much you made in a year. It’s calculated on how much you made minus any relevant deductions.

You get a deduction for yourself, for your kids, for medical savings, retirement savings, alimony, and many many other things. You were also able to deduct any state income tax you paid, which meant states with high income taxes were being subsidized by states with lower or no income taxes.

Everything else being equal, a resident of New York with it’s high state income tax, for example, would pay less in federal income tax than a resident of Florida with no income because the New Yorker could deduct their state income tax. New Yorkers were thus shielded from their own high state taxes by being allowed to pay less in federal taxes.

People in states like New York, California, and Massachusetts are now going to get the entire bill for their state government’s liberal thinking and many of them aren’t going to like it one bit.

Do not date. Do not impregnate. Do not co-habitate. Above all, do not marry. Reclaim and never again surrender your personal sovereignty.

[SolidParticipant 7520]

OldBill wrote:

That would next to impossible because the US federal tax is a byzantine mess and purposely so. For several decades, Congress has added, changed, and rewritten portions of the code to bribe voters, reward supporters, and payoff lobbyists. The system is nearly beyond reform or understanding. That being said and among other changes, the new plan:

– Cut the basic corporate tax rate from ~35% to ~20%.
– Removed several deductions used by corporations.
– Closed the “pass through corporation” loophole which some people had used to avoid higher personal income brackets.
– Reduced the personal income tax brackets from 7 to 4.
– Increased the personal and child deductions.
– Changed how alimony is taxed. You can no longer deduct alimony from your taxes if you pay it, but you no longer taxes on alimony you receive it.
– No more federal deductions for state taxes. This is the provision the Democrats are really screaming about because it strikes right at the heart of the highly-taxed blue states they control.

You notice that deductions and changes to deduction are part of most of this. The federal income tax isn’t calculated on how much you made in a year. It’s calculated on how much you made minus any relevant deductions.

You get a deduction for yourself, for your kids, for medical savings, retirement savings, alimony, and many many other things. You were also able to deduct any state income tax you paid, which meant states with high income taxes were being subsidized by states with lower or no income taxes.

Everything else being equal, a resident of New York with it’s high state income tax, for example, would pay less in federal income tax than a resident of Florida with no income because the New Yorker could deduct their state income tax. New Yorkers were thus shielded from their own high state taxes by being allowed to pay less in federal taxes.

People in states like New York, California, and Massachusetts are now going to get the entire bill for their state government’s liberal thinking and many of them aren’t going to like it one bit.

Thank you Old Bill !! Sounds like it become much better !!

[OldBillParticipant]

Solid wrote:

Sounds like it become much better !!

Like anything else, it’s can be better or worse depending on your individual situation. In fact, it’s can be both better and worse for individuals at the same time.

For example, the bill reduced tax brackets from 7 to 4. That means some people are going to find themselves in a higher tax bracket. The bill also increased personal deductions, so some of those people now in a high bracket may still end up paying less.

The bill’s real effects are the “macro” rather than “individual” changes. While businesses are getting both hikes and cuts, the net change amounts to a cut. A few corporate welfare programs were also axed, but no where near enough.

The fact that local taxes are no longer deductible is a huge change, as are the changes to alimony taxes. As I explained earlier, the feds were subsidizing high state taxes. By giving that federal tax break, the feds were favoring those living in high tax states and punishing those living in low tax states.

The alimony situation was much the same; the feds were subsidizing alimony. Someone paying alimony could deduct it while those receiving it had to pay taxes on it. By reversing the situation, the money will be taxed where it is earned rather than where it is gifted.

Do not date. Do not impregnate. Do not co-habitate. Above all, do not marry. Reclaim and never again surrender your personal sovereignty.

[OldBillParticipant]

Here’s another example of how the new tax bill can be both good and bad at the same time for the same people.

A couple decades ago the feds set up the framework for an education savings program, the 529 plan, which the individual states then managed in various ways.

The idea was pretty simple. You put money, let it grow, and then withdrew it to pay your kid’s college fees. Much like with IRAs and Roths, the feds let you put in a certain amount pretax or “tax free”. You also didn’t need to pay capital gains on the interest earned during the 18 or so years the account grew.

The new tax plan now let’s you use the money for private secondary schools. You needn’t wait until Junior gets accepted to Marxist State to study LGBTQ haiku. Now you can also use the money to send him to study with the nuns at Our Lady of Perpetual Motion from kindergarten to twelfth grade.

This is huge hit to public schools. Most of the states only allow in-state 529 accounts to be used at public in-state schools. (You can live in one state and set up an account in another so Junior can attend school there.) All that 529 money is no longer earmarked for state universities alone meaning all those states aren’t going to get their grubby little mitts on it.

The change is good because it will give you more options on how to use the money.

The change is bad because the states now how “reasons” to change how they manage the accounts. All the feds have done is lift some of their requirements. That leaves the states free to impose new requirements, requirements which will help them grab some of the money they’re “losing”.

Do not date. Do not impregnate. Do not co-habitate. Above all, do not marry. Reclaim and never again surrender your personal sovereignty.

[743 roadmasterParticipant]

Lucas on how a liberal gets away with being racist. Tim Scott helped write the bill.

mgtow is its own worst enemy- https://www.campusreform.org/

[Author]

Posts