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Thread: Tax Bill Calculator: Will Your Taxes Go Up or Down?

  1. #21
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by <alt>doxygen View Post
    I understand.

    I was an independent contractor for about 2 years, and got paid in a mixture of 1099 income and cash/check. It depended on the job. My wife is a yoga instructor, and she gets paid in cash/checks. The reaction of the bank when she first took in her weeks worth of cash was funny. The teller called it, "stripper money". Ones, fives, tens, and the occasional twenty. We still joke about it.
    I generally get paid by the job (rather than in installments) so since the size of my jobs vary widely, from $30 to mow a lot to $4K to renovate/remodel a building, the bank is clueless as to how I make money other than my social security deposit and quite a few widely variable personal check and cash deposits. Only my commercial customers (landlords) send in 1099 information so that they can write off my maintenance/repair bills on their income taxes.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by holbritter View Post

    For a middle class person such as I, there isn't much to hate about it.
    Yeah except for when they use the resulting deficits as even more of an excuse to slash your future Social Security benefits and exchange your future Medicare for vouchers. Then when you are trying to pay for private sector insurance in your 70s out of pocket you will have plenty to complain about.

    We cannot afford any new big programs in this country and we cannot afford any tax cuts either. The fiscal strain with all the retiring baby boomers is immense. Moreover, we need to be investing in our infrastructure which requires tax revenues. I just got back from spending some time in China. My third trip there over the last decade. Spend some time in our economic rival China, and you will see that we had better get our **** together in this country and make the kind of infrastructure investments here that they are making there. Otherwise we are going to have our asses handed to us economically over the next couple of decades.
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by SouthernDemocrat View Post
    Yeah except for when they use the resulting deficits as even more of an excuse to slash your future Social Security benefits and exchange your future Medicare for vouchers. des.
    that's the theory but they never do it.

    The GOP is big on the tax cut thing but not on the small Government thing.

  4. #24
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by SouthernDemocrat View Post
    Yeah except for when they use the resulting deficits as even more of an excuse to slash your future Social Security benefits and exchange your future Medicare for vouchers. Then when you are trying to pay for private sector insurance in your 70s out of pocket you will have plenty to complain about.

    We cannot afford any new big programs in this country and we cannot afford any tax cuts either. The fiscal strain with all the retiring baby boomers is immense. Moreover, we need to be investing in our infrastructure which requires tax revenues. I just got back from spending some time in China. My third trip there over the last decade. Spend some time in our economic rival China, and you will see that we had better get our **** together in this country and make the kind of infrastructure investments here that they are making there. Otherwise we are going to have our asses handed to us economically over the next couple of decades.
    Don’t forget repealing the individual mandate, which will certainly help premiums go ever higher as people forego insurance until they get sick.
    Many Trump supporters have lots of problems, and those deplorables are bringing those problems to us. They’re racists. They’re misogynists. They’re islamophobic. They're xenophobes and homophobes. And some, I assume, are good people.

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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by ttwtt78640 View Post
    You are quite free to write a $760 (or more) check to the US treasury if you feel that the added revenue will prevent cuts in vital federal programs.
    Was that sarcasm, or did the point go over your head?

    It is fiscally irresponsible to hedge on future growth to pay for the heavy debt these cuts will produce. If you and I are in debt, we do not cut our incoming income, and hope it does not rain tomorrow. The GOP used claim fiscal responsibility, another illusion. Trickle down did not work so well in the 80's, but hey, their rich donors got there payoff. Bye bye Trump !!
    And when you’re a star, they let you do it. You can do anything. Grab them by the p**sy. You can do anything." –Donald Trump

  6. #26
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by yankintx View Post
    Was that sarcasm, or did the point go over your head?

    It is fiscally irresponsible to hedge on future growth to pay for the heavy debt these cuts will produce. If you and I are in debt, we do not cut our incoming income, and hope it does not rain tomorrow. The GOP used claim fiscal responsibility, another illusion. Trickle down did not work so well in the 80's, but hey, their rich donors got there payoff. Bye bye Trump !!
    OK, which among "the rich" who claim that they are not being required to pay their "fair share" do this?

    It is easy to be generous with the income of others but far harder to get folks to "contribute" more. To assert that a modest rise in the national debt will cause voters, who find themselves with more of their paychecks available to spend, to vote out republicants in order to see their paychecks shrink when the demorats take charge is doubtful. We will soon see in the 2018 elections.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    It looks like I'll save a bit. But anything I save goes into retirement. The GOP goal all along is to cut spending and programs. I see a SS cut coming, maybe making me work till I'm 70. Likely a hike in medicare costs and for supplemental insurance too.

  8. #28
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by chuckiechan View Post
    Well, you just can't trust the NY Time to give honest answers. So they produced a simple interactive chart so you can see for yourself how badly you are being screwed by the Republicans! Easy- peasy!
    It doesn't allow you to do it by year. The GOP tax cuts for individuals/families expire after 2025. That is when major tax increases for the GOP bloated deficit will effect most Americans.


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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by Rogue Valley View Post
    It doesn't allow you to do it by year. The GOP tax cuts for individuals/families expire after 2025. That is when major tax increases for the GOP bloated deficit will effect most Americans.
    Gee. That just happens to be an election year. The anti tax plan democrats are now going to have to run against a candidate who promises to extend the tax cut.
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  10. #30
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    Re: Tax Bill Calculator: Will Your Taxes Go Up or Down?

    Quote Originally Posted by chuckiechan View Post
    Gee. That just happens to be an election year. The anti tax plan democrats are now going to have to run against a candidate who promises to extend the tax cut.
    Not a financially sound solution. Extending the tax cut further increases the [by then] already bloated deficit.


    Every age has its own Fascism -- PRIMO LEVI

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