Mother, mother, mother - there's too many of you crying.

[Adder]

Originally Posted by SEC_Chick

What ever happened to conservatives* not wanting to blow up the budget and hand our kids a giant bill?

Given that they blow up the budget every time they're in power, I'm not sure they ever existed.

[ThurgreedMarshall]

Originally Posted by Pretty Little Flower

This is the most disappointing use of that phrase ever.

Because he wasn't properly gassed OR hoodie-and-masked up?

TM

[Pretty Little Flower]

Originally Posted by ThurgreedMarshall

Because he wasn't properly gassed OR hoodie-and-masked up?

TM

Among other reasons.

[Tyrone Slothrop]

[Greedy,Greedy,Greedy]

Originally Posted by greatwhitenorthchick

The bills are somewhat incoherent on this, but yes, that is what it boils down to.

There will be an industry in converting services income to goods income, or coupling the two together sufficiently to gain the benefit.

At one point, I don't know if it survived, the bill had language that literally exempted services income under $250K per year from the concept of services income - in other words, a lot of services income for biglaw urban associates would fit in the lower rate but not most of the services income for biglaw partners.

[Greedy,Greedy,Greedy]

Originally Posted by SEC_Chick

I think the bill is worst for the top 5% to .01%. Especially if the AMT stays.

[/url]

Huh? Fact check here.

Corporate rate nearly halved.

International provisions like a sieve for offshore vehicles.

Estate Tax eliminated.

Tax shelters re-created.

This is the ultimate smash and grab for the top percenters.

[Greedy,Greedy,Greedy]

Originally Posted by sebastian_dangerfield

Did not vote for Trump.

You voted for this. There was only one way to stop this.

[Greedy,Greedy,Greedy]

Originally Posted by Tyrone Slothrop

I'm sure that Sebby continues to think there would have been no real difference between the Hillary and the Donald Administrations. Sure, Sebby is going to get screwed when he can't deduct state and local tax payments anymore, but no doubt Hillary was going to do that too.

Among all the people who will be screwed by this, the two I most lack sympathy for are Sebby and Sarandon.

Oh wait. Sarandon will probably benefit from this.

So just Sebby.

[Did you just call me Coltrane?]

Originally Posted by LessinSF

Don't forget the reduction in the cap on mortgage interest from $1MM to $500,000.

Home buyers care about what they can afford per month. So, if you are like me, with a home valued at $900,000, a buyer needing a $720,000 loan now has to pay more per month for that loan because $220,000 of it is no longer deductible. Ergo, my place's value will plummet.

My congresscritter is an R, and has been in office for 10 years. I think there's a good chance he's gone in 2018 - people are pissed (mostly because of his support for Trump). I think (hope) many blue state Rs could be in trouble next year.

[Did you just call me Coltrane?]

Originally Posted by sebastian_dangerfield

Yes. They're already doing so because Jersey has miserable property taxes. This would accelerate the process.

Of course, then PA, being the fourth most corrupt state in the country, with a brutally inept legislature and Governor, would jack property taxes in response and fuck up the whole thing.

But DE is a more savvy state. They'd do well with it.

Does IL rank #1 or #1a?

And it's the Ds who have ruined this state.

[greatwhitenorthchick]

Originally Posted by Greedy,Greedy,Greedy

Huh? Fact check here.

Corporate rate nearly halved.

International provisions like a sieve for offshore vehicles.

Estate Tax eliminated.

Tax shelters re-created.

This is the ultimate smash and grab for the top percenters.

I was reading her statement that it was good for the .001% and above and bad for those below down to the 5%ers. Which I kind of agree with (although it's bad for those below 5% especially when/if the brackets sunset and Medicare/Social Security gets fucked with). And there's a bunch of private equity/hedge fund managers and employees in the 1% but not 0.001% who are going to be fine since they get to keep their capital gains on carried interest/profits interests. But overall the winners are the idle rich, as opposed to the working rich and below.

Oh, and Bob Corker appears to be the only principled "deficit hawk" (maybe because he has nothing to lose). Since we are at the lowest of the low bars, I applaud his backbone in the circumstances.

[Greedy,Greedy,Greedy]

Originally Posted by greatwhitenorthchick

Oh, and Bob Corker appears to be the only principled "deficit hawk" (maybe because he has nothing to lose). Since we are at the lowest of the low bars, I applaud his backbone in the circumstances.

Perhaps we ought to refer to this as "back cartilage".

[sgtclub]

Originally Posted by Greedy,Greedy,Greedy

Huh? Fact check here.

Corporate rate nearly halved.

International provisions like a sieve for offshore vehicles.

Estate Tax eliminated.

Tax shelters re-created.

This is the ultimate smash and grab for the top percenters.

Top percenters that aren't service providers

[Tyrone Slothrop]

Interesting:

[F]or Mueller to give Flynn a deal of this sort, the prosecutor must believe he is building a case against a bigger fish still.

There’s another peculiar nuance: Section 3 of the plea agreement leaves Flynn unprotected against certain future prosecutions. The section is titled “Additional Charges” and states in its entirety that “In consideration of your client’s guilty plea to the above offense, your client will not be further prosecuted criminally by this Office for the conduct set forth in the attached Statement of the Offense” (emphasis ours). The office, in other words, seems to be reserving the right to prosecute Flynn for conduct not set forth in that document, which is to say all of the other conduct on which he might be vulnerable. It is hard to know what to make of this language. It could mean nothing at all. It could mean that the threat of further prosecution is being held over Flynn’s head if he does not hold up his end of the bargain. It could mean that another plea agreement covering other matters is coming.

https://lawfareblog.com/flynn-plea-q...dirty-analysis

[sebastian_dangerfield]

Originally Posted by Greedy,Greedy,Greedy

Among all the people who will be screwed by this, the two I most lack sympathy for are Sebby and Sarandon.

Oh wait. Sarandon will probably benefit from this.

So just Sebby.

I may not... But I think the other half of my household will. Perhaps nicely so. Net gain to household, acct thinks.

There’s always a way to make lemonade. Unless you’re entirely W-2d. In which case, yeah, you got a target on your back.