Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

SamKnause

(13,110 posts)
Thu Sep 28, 2017, 03:19 PM Sep 2017

Statement made during press briefing on the new Tax Plan:

A husband and wife with 2 children that make $100,000.00 will save $1,000.00 per year.

They will then be able to buy a new car or remodel their kitchen.

What kind of new car has payments of $1,000.00 per year ???

What kind of contractor charges $1,000.00 to remodel a kitchen ???

I have never seen such out of touch, insane, evil, liars.

They asked the evil clown 3 times if Trump would save millions on his taxes. (He will)

He never answered.

He stated no one cares how much money rich people pay in taxes.

16 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Statement made during press briefing on the new Tax Plan: (Original Post) SamKnause Sep 2017 OP
The answers to your questions True Dough Sep 2017 #1
.... SamKnause Sep 2017 #4
damn nice kitchen and car Angry Dragon Sep 2017 #8
And it can all be yours True Dough Sep 2017 #10
ROFLMAO! livetohike Sep 2017 #11
I would to see the numbers exboyfil Sep 2017 #2
with the lowest rate going up fro 10% to 12% and a ton of big deductions going away, unblock Sep 2017 #3
the wealthy get a tax cut Angry Dragon Sep 2017 #9
for a couple that tax rate only kicks in on adjusted gross income over $466,951 unblock Sep 2017 #13
perhaps one more country club membership Angry Dragon Sep 2017 #14
His answer was.... Adrahil Sep 2017 #5
Ummm, in that case safeinOhio Sep 2017 #12
Yeah! He wasn't keen on that! Adrahil Sep 2017 #16
I've been screaming and swearing at Control-Z Sep 2017 #6
gary cohn...worth about 260 million...a goldman sachs alumni who will benefit greatly spanone Sep 2017 #7
heard this morning that he would save $4B in estate taxes DrDan Sep 2017 #15

exboyfil

(17,865 posts)
2. I would to see the numbers
Thu Sep 28, 2017, 03:25 PM
Sep 2017

Right now I am not seeing it unless that 12% goes past the bottom of the current 25%.

unblock

(52,323 posts)
3. with the lowest rate going up fro 10% to 12% and a ton of big deductions going away,
Thu Sep 28, 2017, 03:26 PM
Sep 2017

how is this even a tax cut at all?

if that couple making $100,000/year lives in a state with high taxes and has a big property tax bill and maybe a few other itemized deductions, it might end up being a tax hike.

in any event, it's certainly not a major windfall for anyone other than people who are deep, deep into the 39.6% bracket. even they only get it cut to 35%, a measly 4.6% windfall.

very, very expensive for a small percentage difference for a very small percentage of people.

idiotic.

unblock

(52,323 posts)
13. for a couple that tax rate only kicks in on adjusted gross income over $466,951
Thu Sep 28, 2017, 03:45 PM
Sep 2017

so that's "only" a 70,520.25 savings, even assuming that's $2 million of adjusted gross income (after deductions, etc.)

that's still only about 3.5%.

who changes lifestyle or alters major decisions based on a measly 3.5% change in income?

sure, $70k is a lot of money for the rest of us, but when you make $2 million a year, $70k is chump change.

are any of these people seriously going to get a new car or renovate their houses *due to the extra $70k*, when they would not have done so *due to the $2 million income in the first place*???



 

Adrahil

(13,340 posts)
5. His answer was....
Thu Sep 28, 2017, 03:26 PM
Sep 2017

that people don't care about how this affects other peoples' taxes, only their own.

He just admitted that the cynical truth: that they can lavish the wealthy with tax cuts as long as they throw a bone to enough of their own supporters!

spanone

(135,876 posts)
7. gary cohn...worth about 260 million...a goldman sachs alumni who will benefit greatly
Thu Sep 28, 2017, 03:29 PM
Sep 2017

THIS is why he didn't resign after charlottesville....he was brought in to lie this bill through

Latest Discussions»General Discussion»Statement made during pre...