Employers are not going to change their withholding tables in time.

Majority of people will see more in their paychecks by early next year.

https://www.usatoday.com/story/news/politics/2017/12/18/how-soon-after-president-trump-signs-tax-bill-you-see-effects/961497001/

The tax bill sucks, but most people -- who don't give a dang about national debt, participate on Democratic sites like DU, own expensive houses, etc. -- will see more money in their paychecks and wonder what we are screaming about.

Just heard on radio msnbc whoever they were intetviewing the national debt will increase $12 trillion the next 10 years. That is not considering there could more wars or a recession. Total debt $32 trillion by 2028.

Sooner or later, we are going to have to do it, and it is going to hurt a whole lot of people.

If we took half of everything the upper 20% owns -- not just income, but stocks, homes, etc. -- it wouldn't pay off the debt we have now. And if we did that, the economy would crash, putting tens of millions of people out of work, shutting down safety net programs, and the like.

Until, we cut the military budget, increase taxes on just about everyone (but particularly higher incomes), etc., we won't make a dent in the national debt. It's just an ugly fact.

Should have started long ago. Now, when we finally do something, it will hurt the economy dramatically. Just cutting out a $100 Billion in the military budget will put a lot of folks out of work because that, sadly, is one of our few prosperous domestic industries. Yet, we just passed a tax cut and a lot of people are fine with it.

Shoot, I'm making myself depressed.

Last edited Tue Dec 19, 2017, 07:43 PM - Edit history (1)

not concentrating on the debt. From what I see the vast majority will get a tax cut next year. They ran on a half truth saying it was a tax increase. Next fall after people see they are getting a few xtra bucks and if the economy is still good I don't see Democrats gaining much if anything.

One of the majors.

We had a bit of a corporate celebration recently.

The account values of all the many millions of customer accounts we have went over $ 1 trillion for the first time.

That hit me hard. It means if we took the invested assets of all these millions of wealthy and middle-class families, we wouldn't even make a dent in the national debt.

No wonder no one's talking about it.

value, making the situation worse.

Net Nothing!

will always increase prices.

I'm sure they will offset each other.

seriously.

It has seriously eaten into my income. My savings are gone. I'm working my butt off.

Together we will make it better for future generations.

I am a retired federal employee, so did get that good health insurance, though I'm struggling with just other living costs so tax relief would have been nice, but in actuality, I'd like to see better public service, not these tax cuts for the well off. I realize others are struggling even more than myself as I live in a rural area and I see many people who I wonder how they even do it. My brother has helped me out and he will always help me out, so I know I have that safety net.

Hoping for a blue tsunami in 2018, but with Trump as POTUS, that will not undo what is being done today with this #GOPTaxscam

Fuck you, Grassley! I'm drinking my way out of this administration.

Alcohol, I mean.

It hasn't started to trickle!

But since WE are the ones who pay the corporate taxes (they don't just pull that money out of their asses, it's baked into the price of everything we buy), we should see some kind of deflationary pricing ahead!

Maybe, maybe an Apple product under the tree next year?

That would be incorrect. Ever file sales tax for a business? The more you increase your price, the more sales tax you pay. So padding the price to the consumer doesn't do anything but increase the amount of sales tax owed. Loopholes on the other hand, now there is the scam.

businesses do pull associated costs of the product out of their asses?

Good to know!

7-11 offers a very reasonable installment plan.

You can get unused stamps from old collections sometimes at 75 pct of face.

I'll see if it's still open. That, or I'll stock up on postage stamps.

If I see any of it, that is. I keep a little savings account for dentist and vision expenses, since I no longer have insurance for those.

my property taxes in Essex County, NJ - the one that's taking the biggest hit in the country.

in CT ....

My Trump-loving brother is an over-the-road truck driver. When the Unreimbursed Employee Expenses and State and Local Tax deductions go away his taxes will double. The earplugs will cut down on the screams I have to hear.

Here in California I don't expect it to be pleasant

when the Depression II hits

that eliminating the federal tax on liquor actually sounds like a break. It's the only one we expect to see as we get slammed. Plus, experts believe a bunch of ancillary thefts will be added in supplementary bills after this, so gotta wait for second, fifth, ...eighth shoes to fall.

GOPers who failed to vote or speak out against the Tax Bill are deplorables.

I maybe no better or worse off, so I am not going to sweat it until next year.

I actually sat down Saturday, after the "final bill" and calculated my actual "tax relief." I live on a pension, have a mortgage, state income tax, property taxes and I currently itemize. My Schedule A is about $10,900, so $12k is nice, but losing the personal exemption of $4050 is HUGE. I will turn 65 next year, so get slight relief with the extra SD of $1550 added to that $12k (they didn't kill that), but obviously not my normal deduction to my AGI without that personal exemption. I retired earlier than planned due to cancer.

I come up short about $800 a month as it is.

So what am I spending it on? My contribution to my health insurance goes up $15.50 next year.

Tax Relief? $1 a month Maybe a lottery ticket?

lol!

.........

An extra can of Fancy Feast. Thanks to the GOP My 2 cats won't have to share one can anymore.

Yesterday. Did my laundery. $3.00

MAGA on the fucking half-shell, baby!