Donald Trump Is Officially Our Next President

Actually I'm almost excited to lose an election now so we can mount a massive electoral revolt, overturn and negate the votes of the people. Thanks for the precedent, liberals! Just because you tried and failed doesn't mean we will.
 
JudoThrowFiasco said:
Yeah, myself and the wife do well

I get the concepts of why deficits occur, i am saying i rather be on the side in which gets more net income via tax reduction vs less and still have to deal with deficits. I agree that Trump's plan will incur greater debt but, at the same time, your personal income will be enhanced. Canadians voted for a person who grossly jacked his spending and deficit while comparing to the opposite.

We still have to see what he plans to cut -- you seem to care more than i do about social spending for the bottom rung.

Plus, wouldnt the Standard deduction rate for married filers going from 12600 - 30000 also not save lower - middle income people a lot of money?
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A few thoughts here.

One, I can't speak to Canadian taxation because I don't know shit about them. Plus I think you can make mistakes if you conflate Trump's plan with Canada's situation.

And I do get why rich people want to pay less tax. I really can't fault people for looking out for their own best financial interests. I personally will do much better under Trump's proposal than Hillary's (I have a lot to save from low capital gains taxes). But my philosophy in general is that taxation is the price we pay to live in an advanced society and relative to other advanced nations our taxes are quite low. Also, these conversations also need to include spending. If I can get on board with the uses of tax changes then I'm in. I just reject the idea that trillions in tax cuts that largely go to the top earners is going to boost our economy for everyone. It's a huge waste of resources.

And couples who earn 12.6 to 30k a year are paying very little tax, if any. If Trump enhanced the EIC that would help or other refundable taxes that would also help. But again the larger point is that most of the tax revenues lost go into the pockets of the wealthy.
 
kpt018 said:
A few thoughts here.

One, I can't speak to Canadian taxation because I don't know shit about them. Plus I think you can make mistakes if you conflate Trump's plan with Canada's situation.
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Im not trying to compare them directly, i am just saying that the deficit argument is something doesn't resonate highly with me as to why taxes shouldnt be cut, because i live in a nation with high taxes and a government still producing a deficit. I can understand your concern with Trumps plan, however.

kpt018 said:
And I do get why rich people want to pay less tax. I really can't fault people for looking out for their own best financial interests. I personally will do much better under Trump's proposal than Hillary's (I have a lot to save from low capital gains taxes). But my philosophy in general is that taxation is the price we pay to live in an advanced society and relative to other advanced nations our taxes are quite low. Also, these conversations also need to include spending. If I can get on board with the uses of tax changes then I'm in. I just reject the idea that trillions in tax cuts that largely go to the top earners is going to boost our economy for everyone. It's a huge waste of resources.
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Fair, but my view is more geared to the working rich -- households who are making that 450 - 500 k -- which even though is well above average, is still something very attainable to achieve. Those people pay more into income taxes than they do into their own cost of living. Coming from that perspective, i am envious of future breaks they are about to receive. I'm not advocating no taxation, merely just someone who rather not pay more into taxes than i do into housing, food, transport, utilities, clothing, etc. I do understand that resentment that the rich do get the bulk of dollar value in terms of tax cuts, but other working professionals do benefit from them as well -- and that is the part i am envious of.

kpt018 said:
And couples who earn 12.6 to 30k a year are paying very little tax, if any. If Trump enhanced the EIC that would help or other refundable taxes that would also help. But again the larger point is that most of the tax revenues lost go into the pockets of the wealthy.
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Im not american so correct me if i'm wrong -- but doesn't the raise in standard deduction apply to everyone? So, now a household making 80k a year -- instead of the original deduction of 12'600 resulting in 67'000 of their income taxable -- doesn't the new deduction rate now make 50'000 of their income taxable? Thus, they too save thousands under Trumps plan?
 
The Higher Power said:
But but but I thought they weren't gonna vote for him according to "experts" like Fawlty! :D
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I too am confused by this. Please, @Fawlty explain this. We need your expertise! You are so well respected here, we need a well informed view like yours!
 
RhinoRush said:
I too am confused by this. Please, @Fawlty explain this. We need your expertise! You are so well respected here, we need a well informed view like yours!
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No problem. I never thought there would be any significant number of "faithless electors" and I posted repeatedly about how overboard liberals were going with that story. It wasn't going to happen, and further, it was them implicitly condoning the terrible behavior of Trump by emulating it themselves, by attacking norms and expectations of decency.
 
Congrats Muricans'. Enjoy the coming apocolypse. At least I know what to get all of you for xmas.
trump-cuck-whitened-640x601.jpg
 
I hope they keep fighting this, just adds to Trumps Legacy with all these Ws.

I'm starting to get tired of Winning President Trump but I know you won't let us stop so keep on making us win.
 
Scott Parker 27 said:
Congrats Muricans'. Enjoy the coming apocolypse. At least I know what to get all of you for xmas.
trump-cuck-whitened-640x601.jpg
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While I didn't vote for Trump, I am certainly going to give him the chance he deserves and not be a little bitch about it.

Liberals have become nothing more than crybaby hypocrites. Here is a perfect example.

cool-9b.png


What a bunch of little bitches. Suck it up buttercup.
 
It was official the moment he said he had a big cock during a debate. He win the election in that moment.
 
JudoThrowFiasco said:
Im not trying to compare them directly, i am just saying that the deficit argument is something doesn't resonate highly with me as to why taxes shouldnt be cut, because i live in a nation with high taxes and a government still producing a deficit. I can understand your concern with Trumps plan, however.



Fair, but my view is more geared to the working rich -- households who are making that 450 - 500 k -- which even though is well above average, is still something very attainable to achieve. Those people pay more into income taxes than they do into their own cost of living. Coming from that perspective, i am envious of future breaks they are about to receive. I'm not advocating no taxation, merely just someone who rather not pay more into taxes than i do into housing, food, transport, utilities, clothing, etc. I do understand that resentment that the rich do get the bulk of dollar value in terms of tax cuts, but other working professionals do benefit from them as well -- and that is the part i am envious of.



Im not american so correct me if i'm wrong -- but doesn't the raise in standard deduction apply to everyone? So, now a household making 80k a year -- instead of the original deduction of 12'600 resulting in 67'000 of their income taxable -- doesn't the new deduction rate now make 50'000 of their income taxable? Thus, they too save thousands under Trumps plan?
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Fair post all around. I would say that achieving an income of $500k per year is much harder than you think and my view is if you are benefiting more from the system you should pay more in. I see it as more complicated than the net of taxes paid over direct benefits. True, people who have good incomes don't use many of the programs that governments provide but they are benefiting from the economy. And in principle I'd be for cutting taxes if I can get on board with the spending cuts. The thing is these plans are almost always coupled with cuts to things that help poor people, so I reject them. And effective taxes (rates people actually pay, not statutory) are low historically in this country and compared to other advanced countries.
Low taxes, in a bubble, are better than more taxes. Until you start axing programs that need funding.

To your last question, the standard deduction is not refundable (meaning you get a refund even if you aren't paying tax). So people with income and tax liabilities will certainly save money. People who pay little or no tax will not. In your example, generally speaking, someone making $67k would save a few thousand whereas someone making $20k wouldn't save much, if anything, vs the current code because they aren't paying a lot of tax or aren't paying any.

Again, and I think you probably agree or at least understand our concern, is that cutting the top rates along with the lower rate cuts will provide massive cuts to high income earners. They are getting the majority of the benefits and it's a waste to me. What ROI do we get for this?
 
kpt018 said:
Fair post all around. I would say that achieving an income of $500k per year is much harder than you think and my view is if you are benefiting more from the system you should pay more in. I see it as more complicated than the net of taxes paid over direct benefits. True, people who have good incomes don't use many of the programs that governments provide but they are benefiting from the economy. And in principle I'd be for cutting taxes if I can get on board with the spending cuts. The thing is these plans are almost always coupled with cuts to things that help poor people, so I reject them. And effective taxes (rates people actually pay, not statutory) are low historically in this country and compared to other advanced countries.
Low taxes, in a bubble, are better than more taxes. Until you start axing programs that need funding.

To your last question, the standard deduction is not refundable (meaning you get a refund even if you aren't paying tax). So people with income and tax liabilities will certainly save money. People who pay little or no tax will not. In your example, generally speaking, someone making $67k would save a few thousand whereas someone making $20k wouldn't save much, if anything, vs the current code because they aren't paying a lot of tax or aren't paying any.

Again, and I think you probably agree or at least understand our concern, is that cutting the top rates along with the lower rate cuts will provide massive cuts to high income earners. They are getting the majority of the benefits and it's a waste to me. What ROI do we get for this?
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No, i get your point of view completely -- im arguing as someone who comes from a heavier taxed populace in which it does not take a lot of income before they pay more into income tax than they do for their own yearly cost of living. Not to mention the increase in other taxes like VAT and Sales taxes -- imagine you upped your progressive taxes and still had to pay 4 dollars a gallon for gas, even if you come from an oil rich nation. It adds up, quickly. And im not say 500k individual income but a 500k household income is not all that difficult to achieve -- A combination of a engineer and doctor; lawyers; small business owners; upper managers etc all can fall into that range -- and that is where the world is headed in terms of the new middle class.

I get your point that the ultra rich do benefit the most from this, and I get they can afford without worry to pay more (although, i personally hate saying i should pay less and others above me should pay more) -- but again, you and I still financially benefit as well. Whether you agree with the virtue of it is something else. We are coming at it from two different perspectives -- professional in Canada who pays high federal AND provincial taxes, along with other taxes (sales and vat) and you, a professional in the US who does not currently pay as much and sees the benefit in the possibility of paying a bit more.

Because of that, i'm envious of the tax break.

Also, the way The US allots their taxes could definitely stand an overhaul. I agree with you guys needing the badass military but you can spread the funding for that around to other areas.
 
Whippy McGee said:
While I didn't vote for Trump, I am certainly going to give him the chance he deserves and not be a little bitch about it.

Liberals have become nothing more than crybaby hypocrites. Here is a perfect example.

cool-9b.png


What a bunch of little bitches. Suck it up buttercup.
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lol, messed up millennials
 
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