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

[Adder]

Originally Posted by sebastian_dangerfield

Now, I still believe the bill may still die. But that's just because it's nuts. This, I know, is not very persuasive.

I too think they will fail again, but I am not terribly confident of it.

[Tyrone Slothrop]

Originally Posted by sebastian_dangerfield

NY and CA can survive this. Jersey, which was already fucked, is really fucked. This may be really good for PA and DE, however.

I don't follow you, but whatever.

[Adder]

Originally Posted by Tyrone Slothrop

That seems like the one thing Trump realistically might do that would turn Republicans on the Hill against him.

It might. Or it might not. I mean, it's not like McConnell wasn't out there blowing up governing norms long before Trump came along. And Ryan hasn't proven any better. Why won't they again express grave concern and then do nothing? Worked so far.

[Adder]

Originally Posted by Tyrone Slothrop

I don't follow you, but whatever.

I assumed he meant people will flee Jersey for PA and DE??

[sebastian_dangerfield]

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.

I think a way around the SALT deduction rollback would be to finance the property taxes. The mortgage interest deduction still exists. Banks could build the local property taxes into the loan as some do now via escrow charges. Only instead of calling them escrow, capitalize them into the principal every year at a higher interest rate, commensurate with the property tax deduction lost. Or just charge stand alone "special interest" equivalent to the amount of property tax paid each year. It'd take some creative math and structuring to do so and still have the loan amortize anywhere near properly, but where there's a will...

[sebastian_dangerfield]

Originally Posted by Adder

I assumed he meant people will flee Jersey for PA and DE??

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.

[sebastian_dangerfield]

Originally Posted by Adder

I too think they will fail again, but I am not terribly confident of it.

Cornyn is saying they have the votes, as is McConnell.

Who stops this thing?

[Tyrone Slothrop]

Originally Posted by sebastian_dangerfield

Cornyn is saying they have the votes, as is McConnell.

Who stops this thing?

The politics of it are totally insane. Not getting why they don't see that, or don't care. If Trump had half a brain, he would understand that having a Democratic Congress elected next fall means that he will be impeached (if not removed). Are the GOP legislators who lose their seats all planning to go to work for Heritage and the Koch Brothers?

[greatwhitenorthchick]

Originally Posted by sebastian_dangerfield

Cornyn is saying they have the votes, as is McConnell.

Who stops this thing?

Because of my practice area (and as someone who is going to lose her SALT deduction), I have paid far, far too much attention to this bill. My prediction is that it's not going to die. The last-minute Flake (DACA) amendment (and Senate bill now doesn't repeal the AMT) may make reconciliation more difficult, and delay plus potential government shutdown plus Alabama election are potential factors, but I think they'll keep horse trading and adding on stuff to please various interests until the thing looks like a glittery Christmas shit-tree and they'll get it through.

[Did you just call me Coltrane?]

Originally Posted by greatwhitenorthchick

Because of my practice area (and as someone who is going to lose her SALT deduction), I have paid far, far too much attention to this bill. My prediction is that it's not going to die. The last-minute Flake (DACA) amendment (and Senate bill now doesn't repeal the AMT) may make reconciliation more difficult, and delay plus potential government shutdown plus Alabama election are potential factors, but I think they'll keep horse trading and adding on stuff to please various interests until the thing looks like a glittery Christmas shit-tree and they'll get it through.

I mean FUCK. There was really only one way that I would benefit from this dickhead being president, and that's a tax cut. But first this SALT bullshit and now they're keeping the AMT? I'm calling again for the blue states to secede.

[sebastian_dangerfield]

Originally Posted by Tyrone Slothrop

The politics of it are totally insane. Not getting why they don't see that, or don't care. If Trump had half a brain, he would understand that having a Democratic Congress elected next fall means that he will be impeached (if not removed). Are the GOP legislators who lose their seats all planning to go to work for Heritage and the Koch Brothers?

A Democrat controlled Congress is a huge assumption. A lot of the predictions of that, right now, are more advocacy for and desire to see it, rather than actual proof it's coming.

And Trump's the honey badger. Next fall? That's predicting... thinking. He don't give a fuck about that kind of egghead stuff. Now Me Win! Moar Wins Now!

[LessinSF]

Originally Posted by Did you just call me Coltrane?

I mean FUCK. There was really only one way that I would benefit from this dickhead being president, and that's a tax cut. But first this SALT bullshit and now they're keeping the AMT? I'm calling again for the blue states to secede.

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.

[sebastian_dangerfield]

Originally Posted by greatwhitenorthchick

Because of my practice area (and as someone who is going to lose her SALT deduction), I have paid far, far too much attention to this bill. My prediction is that it's not going to die. The last-minute Flake (DACA) amendment (and Senate bill now doesn't repeal the AMT) may make reconciliation more difficult, and delay plus potential government shutdown plus Alabama election are potential factors, but I think they'll keep horse trading and adding on stuff to please various interests until the thing looks like a glittery Christmas shit-tree and they'll get it through.

Can you explain the difference between treatment of LLC income under this 25% rate thing? The financial media is incoherent on this, but I understand there's a distinction between goods and services that goes like this:

Because I sell services, I cannot have the 25% rate on pass through income;
If I sold goods, I could have it.

Is that accurate? Because, well, fuck that bullshit right there. Fuck it hard, and not nicely in the least.

[ThurgreedMarshall]

Originally Posted by Tyrone Slothrop

That seems like the one thing Trump realistically might do that would turn Republicans on the Hill against him.

How many Republicans? 20% They have absolutely no integrity or respect for this country's institutions that aren't the armed forces. He fires Mueller, they weather an extended storm and push through their abortion of a tax bill, ton of psychotic federal judges, and whatever else their donors can type up before the midterms, and sit back satisfied at their accomplishments. If you think that will trigger impeachment, you're crazy. And based on your other posts today, you are not crazy.

TM

[Tyrone Slothrop]

Originally Posted by sebastian_dangerfield

A Democrat controlled Congress is a huge assumption. A lot of the predictions of that, right now, are more advocacy for and desire to see it, rather than actual proof it's coming.

Mid-term elections are a referendum on the President, and Trump's approval ratings are at historic lows. He only knows how to play one tune, which is to appeal to his base, and the rest of the country doesn't like it. Democrat voters are motivated and Republicans are not. And Congress is about to raise taxes on the middle class to pay for a tax cut for the rich. Sure, Democratic control of Congress is not guaranteed, but I'll make a wager with you at even odds.

And Trump's the honey badger. Next fall? That's predicting... thinking. He don't give a fuck about that kind of egghead stuff. Now Me Win! Moar Wins Now!

Sure.