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

[greatwhitenorthchick]

Originally Posted by sebastian_dangerfield

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.

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

[greatwhitenorthchick]

Originally Posted by Tyrone Slothrop

even odds.

"sniff"

[sebastian_dangerfield]

Originally Posted by Tyrone Slothrop

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.

Sure.

This bill isn't raising taxes on the middle class. If you own a home with a mortgage over $500k, outside of a city, you're probably upper middle class to affluent. If the state income tax deduction is significant to you, you either live in a place like NY, which means you're fairly well off relative to the rest of the country, or you're making decent coin.

This bill looks like it's targeting the upper middle class. If you plug in Adder's theory that people only care about their position relative to those nearest them (which I buy), Trump is targeting exactly the sort of effete professional sorts his base, the real low to middle classes, hates most.

Wentworth Plutocrat IV gets a fat tax break, and Purvis Coalcracker, who resents the college folk in the neighboring town, gets to spit in the eye of that fancy orthopedic surgeon he resents. You know... the one with the Range Rover and that Oriental wife.

[LessinSF]

Originally Posted by Adder

So maybe ABC knows something. Or maybe ABC mis-reported what's in the statement of offense.

The money appears to be on Jared - https://www.thedailybeast.com/very-s...ussia-outreach

[sebastian_dangerfield]

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.

Moar homes for Blackstone to buy and rent!

"Renting? That's unsane!"

"Not now! Now you've got a $24k standard deduction from Uncle Sam! You can live in one of those excellent Blackstone townhomes. It's the American dream with whipped cream and cherries on top. I'm getting an erection just thinking about the granite kitchen and stainless steel refrigerator and microwave! It's so tasteful. The most chic living, ever!"

[Adder]

Originally Posted by sebastian_dangerfield

This bill isn't raising taxes on the middle class. If you own a home with a mortgage over $500k, outside of a city, you're probably upper middle class to affluent. If the state income tax deduction is significant to you, you either live in a place like NY, which means you're fairly well off relative to the rest of the country, or you're making decent coin.

It's hard to keep up with exactly what the numbers are, especially as the substance of the bill keeps changing, but I thought I saw an analysis that said that 80% of households making less than $100k will see a tax increase. That's the middle class.

that fancy orthopedic surgeon he resents. You know... the one with the Range Rover and that Oriental wife.

If that fancy orthopedic surgeon is not himself in the top 5%, he's doing it wrong. Heck, he's probably in the top 1%.

[Adder]

Originally Posted by LessinSF

The money appears to be on Jared - https://www.thedailybeast.com/very-s...ussia-outreach

The money appears to be on Jared being among them, anyway.

[Icky Thump]

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.

It's OK they still have my name on the list at The Projects. Hopefully they didn't paint over my tag on the handball courts.

[Tyrone Slothrop]

Originally Posted by ThurgreedMarshall

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

Yeah, I don't know that it would turn enough Republicans against him. Many would pivot from "there's nothing to the Russia stuff" to, "he's allowed to do whatever he wants," but at least some wouldn't.

[Tyrone Slothrop]

Originally Posted by sebastian_dangerfield

This bill isn't raising taxes on the middle class. If you own a home with a mortgage over $500k, outside of a city, you're probably upper middle class to affluent. If the state income tax deduction is significant to you, you either live in a place like NY, which means you're fairly well off relative to the rest of the country, or you're making decent coin.

This bill looks like it's targeting the upper middle class. If you plug in Adder's theory that people only care about their position relative to those nearest them (which I buy), Trump is targeting exactly the sort of effete professional sorts his base, the real low to middle classes, hates most.

Wentworth Plutocrat IV gets a fat tax break, and Purvis Coalcracker, who resents the college folk in the neighboring town, gets to spit in the eye of that fancy orthopedic surgeon he resents. You know... the one with the Range Rover and that Oriental wife.

I'm not interested in arguing with you about who is and is not middle class. A lot of people who identify themselves as middle class will get hurt by this bill, which is one reason why it is staggeringly unpopular and will only get mores if it passes. And Trump isn't "targeting" anyone -- if you think he designed this bill, I have a bridge to sell you.

[Tyrone Slothrop]

Originally Posted by LessinSF

The money appears to be on Jared - https://www.thedailybeast.com/very-s...ussia-outreach

Looks like Mueller may have interviewed Kushner about this stuff after Flynn flipped.

[SEC_Chick]

Originally Posted by Adder

It's hard to keep up with exactly what the numbers are, especially as the substance of the bill keeps changing, but I thought I saw an analysis that said that 80% of households making less than $100k will see a tax increase. That's the middle class.



If that fancy orthopedic surgeon is not himself in the top 5%, he's doing it wrong. Heck, he's probably in the top 1%.

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

The thing that is most upsetting is the ridiculous giveaways that remain, when IT ADDS OVER A TRILLION TO THE DEFICIT!!!

WTF happened to people like Paul Ryan? I have not been a fan of his for a while, but really? What ever happened to conservatives* not wanting to blow up the budget and hand our kids a giant bill? I'm as big a believer that the govt takes more than enough money already, but doing this without any meaningful entitlement reform is idiotic. Even for this GOP Congress.


*Whatever that term means now in the age of Trump and Moore. To me the term still means this:http://www.nationalreview.com/articl...ficult-produce

[ThurgreedMarshall]

Originally Posted by Tyrone Slothrop

Looks like Mueller may have interviewed Kushner about this stuff after Flynn flipped.

Set that ass up.

TM

[Pretty Little Flower]

Originally Posted by ThurgreedMarshall

Set that ass up.

TM

This is the most disappointing use of that phrase ever.

[Tyrone Slothrop]

Originally Posted by SEC_Chick

WTF happened to people like Paul Ryan? I have not been a fan of his for a while, but really? What ever happened to conservatives* not wanting to blow up the budget and hand our kids a giant bill? I'm as big a believer that the govt takes more than enough money already, but doing this without any meaningful entitlement reform is idiotic.

Unlike you, they never believed it. The crocodile tears about deficits were a pretext to oppose government spending they didn't like.