More tax plan information for middle working class families...

This is just for information purposes:

According to analysis by the Center for American Progress based on Tax Policy Center data, 36 million working- and middle-class households would see a tax increase by 2027 under the House tax bill.

Based on the latest version of the tax plan, 22.5 percent of tax units (tax parlance for households) in the bottom 80 percent of the income scale would see their taxes go up by 2027, at an average cost of a whopping $1,130 per family with a tax increase.

With more than 159 million households in these income brackets, 36 million would end up facing a tax increase.

Some of the hardest hit will be student loan recipients: Nearly 12 million will be affected by repeal of the student loan interest deduction. Graduate students will be hit even harder, since the House tax bill proposes taxing tuition paid by their universities, which will raise taxes by nearly $10,000 on some students.

Importantly, the bill’s “Family Flexibility Credit”—a provision in the bill that does benefit the middle class—would expire after 5 years, even though nearly every other tax cut (corporate tax cut, the Trump “pass-through” loophole, estate tax elimination, and the elimination of the alternative minimum tax) would continue indefinitely.

The article can be found here: www.commondreams.org...

And The Center for American Progress can be found at: www.americanprogress.org...

They have extensive analyses of the tax plans.

a reply to: FyreByrd

Maybe it's time to close some of the 800+ foreign military bases we have around the World. The rent base for Rammstein Germany pays free healthcare for the German people. Maybe its time to put America first before all the foreign interests.

The ATS link redirects to the wrong link I believe and I didn’t see any analysis of tax reform on the other link. Maybe I missed it though.

a reply to: FyreByrd

both links are useless

wtf

a reply to: dfnj2015

People are against socialized (universal) healthcare but are all for socialized military eating up most of our taxes. No one has a choice whether their taxes go toward the military, I don't want my taxes going toward military because it does me no good but I'm forced to pay for it anyways. It's stupid, at least if I'm forced to pay for something then I'd like it to be something that benefits me and my neighbors, like healthcare, not something used to kill foreigners overseas.

I don’t think it’s a secret the Republicans have yet again screwed the pooch with this bastardization of the campaign tax reform promises. I was really looking forward to a post card sized submission to the IRS...

originally posted by: 3NL1GHT3N3D1
a reply to: dfnj2015

People are against socialized (universal) healthcare but are all for socialized military eating up most of our taxes. No one has a choice whether their taxes go toward the military, I don't want my taxes going toward military because it does me no good but I'm forced to pay for it anyways. It's stupid, at least if I'm forced to pay for something it's like it to be something that benefits me and my neighbors, like healthcare.

So you’d like no US military? Then you could really say Russia, Russia, Russia...in Russian!

originally posted by: dfnj2015
a reply to: FyreByrd

Maybe it's time to close some of the 800+ foreign military bases we have around the World. The rent base for Rammstein Germany pays free healthcare for the German people. Maybe its time to put America first before all the foreign interests.

Ditto Ditto

the documentary "Standing Army" is excellent on the subject.

originally posted by: Middleoftheroad
The ATS link redirects to the wrong link I believe and I didn’t see any analysis of tax reform on the other link. Maybe I missed it though.

Thank you... they have been fixed.

a reply to: Lab4Us

Less military spending. We could cut our military budget in half and still be the strongest military in the world by far. Put the money somewhere more useful, somewhere closer to home that benefits everyone instead of the MIC.

originally posted by: 3NL1GHT3N3D1
a reply to: Lab4Us

Less military spending. We could cut our military budget in half and still be the strongest military in the world by far. Put the money somewhere more useful, somewhere closer to home that benefits everyone instead of the MIC.

While I won’t disagree on closing “some” overseas posts, if you cut it in half, you’re inviting other countries, which many here swear are mortal enemies of the US, to surpass the US in technology, manpower, and training. When that day comes, Marsall Law, taxes, and politics will be the least of anyone’s worries here in the US...but have at it...

a reply to: FyreByrd

I've seen nothing much in the way of good news in this "Republican" tax business.

That said.......an analysis by "American Progress" isn't dispositive of anything for two reasons.

1) No one anywhere knows what if anything this Congress will ever agree to pass in the way of a tax package. The safe bet is on the proposition that nothing will ever be issued forth.
2) American Progress is so partisan they would never produce anything in the way of unbiased analysis and is therefore totally suspect.

I wouldn't worry too much about this Congress passing anything in the way of tax reform. They can't get it done before the end of the year and 2018 they'll be worried only about getting re-elected which means they'll do nothing or even consider doing anything until after the mid-term elections.

Trump has been nothing but a disappointment. This new tax bill being attempted to push through is awful for the middle class. So, who is speaking up for the middle class? No one. All they do is partisan bickering. We still need to clean out Washington and this is no time to consider such a ridiculous tax bill. The IRS needs to go. Period.

originally posted by: dfnj2015
a reply to: FyreByrd

Maybe it's time to close some of the 800+ foreign military bases we have around the World. The rent base for Rammstein Germany pays free healthcare for the German people. Maybe its time to put America first before all the foreign interests.

I agree. Ramstein (the German band is called Rammstein) is the installation that make drone attacks possible in the middle east. Without the Ramstein base the US could not operate drones according to a well-researched documentary. If I remember rightly Germany is forced to pay a certain percentage of the costs of that base due to post-WW2 treaties or some-such. Germans also pay plenty enough for their own healthcare system. It's pretty much the same system as the Netherlands.

a reply to: FyreByrd

Some of the hardest hit will be student loan recipients: Nearly 12 million will be affected by repeal of the student loan interest deduction. Graduate students will be hit even harder, since the House tax bill proposes taxing tuition paid by their universities, which will raise taxes by nearly $10,000 on some students.

If your taxes are affected by $10,000 by the student loan interest deduction, you are not middle class. Doctors just out of internship have those kind of Interest deductions not normal college people. It's more a reflection on the government/collegiate complex cost of education than it is of taxes.

a reply to: FyreByrd

FyreByrd, I agree that the tax proposal isn't perfect. It is a good step in the right direction, though. Clearly there are finer details that need to be worked out, including debt relief for student loans and more tax reduction for middle and low class families.

For instance, if a household income (definition to include single people living alone) is below X amount of dollars/year, they could be exempt from income tax entirely. While those in a middle bracket could be heavily discounted, say 75%.

At least my 2c

originally posted by: dfnj2015
a reply to: FyreByrd

Maybe it's time to close some of the 800+ foreign military bases we have around the World. The rent base for Rammstein Germany pays free healthcare for the German people. Maybe its time to put America first before all the foreign interests.

You have links on the rents and the cost of Germany's healthcare costs?

originally posted by: dfnj2015
a reply to: FyreByrd

Maybe it's time to close some of the 800+ foreign military bases we have around the World. The rent base for Rammstein Germany pays free healthcare for the German people. Maybe its time to put America first before all the foreign interests.

Lol, do you believe that by your own?

First of all, you really think that the rent for Rammstein pays free healthcare for the german people???
Really???
Deutschland zahlt Millionen für US-Militär
In english:
Germany hast to pay millions for the US occupiers military!!!

Wanna know who pays of healthcare system:
Wer finanziert das Gesundheitssystem?

It´s the same people that have to pay millions and millions for the US occupiers in Germany, the german taxpayers!
The base rent for Rammstein pays our "free" healthcrae system, you really think you are the cream of the crop, don´t you?

And you really think that all these bases around the world have nothing to do with:
America first?(i guess you meant North! America)
Really?
What are they else for, North-America last? Just for decoration?

Come on, even the most uneducated redneck can produce more believable fake news!

But with one thing you are right, close down your damned bases around the world, makes the world a better place!

a reply to: FyreByrd

You know the Center for American Progress is founded by John Podesta? I believe these guys as much as the CBO on Obamacare.

originally posted by: matafuchs
a reply to: FyreByrd

You know the Center for American Progress is founded by John Podesta? I believe these guys as much as the CBO on Obamacare.

Center for American Progress