Trump Tax Plan Calculator

by Tahoe 19 Replies latest social current

  • Tahoe
  • _Morpheus

    Hell yea! Im saving 2k!!!!! Tax cut! Tax cut! Tax cut!

    Cool link tahoe, ty

  • dubstepped

    Very cool little calculator. Looks good for me too.

  • Doubting Bro
    Doubting Bro

    Thanks for sharing. I haven't had the time to read all the various provisions but I look to be making out pretty well. I live in a low tax state to begin with so the limitation on the state/local taxes doesn't really hurt me. The lower tax rates across the various levels helps quite a bit.

    Honestly, for most of these things, people's reaction to change is in direct correlation to how they are personally impacted. Same thing with the WT cult.

    I'm now officially in favor!! (not that it really matters)

  • ttdtt

    Haaaaa what BS.


    So how much do I save when I cant afford Health Insurance cuz they Gutted the ACA?
    How about CHIP which is not funded? So my kids lose Health Care.

    What about all the funding that is getting cut from the STATES?
    My property taxes go up, essential services I count on will get cut or become more expensive.

    Oh and by the way, the tax cuts the middle class is going to get EXPIRE, unlike the ones for the rich.

    So saving me 10$ but then charging me 20$ is not a savings people.
    The concerts free! But parking is $500:)

    Trump and the GOP use the SAME tactics with information as the WT.

  • _Morpheus


    What the hell do state services have to do with the fed government? Cite a specific program cut or i call bullshit.

    Why the hell would state property tax go up? Have you conflated the reduced deduction for state property tax? If so restate your argument correctly or admit its nonsense.

    Hate all you want im keeping more of MY money. Feel free to give as much as you want.

  • Still Totally ADD
    Still Totally ADD

    Yeas it is true all 95% of us will be getting a tax cut depending on out much you make. That is the 17% of the bill that will help us. The 83% of the rest of the provisions will go to the top 1-2% of those with lots of money. The paid back for the rest of us will be most likely no insurance for children, less money for infrastructure if any at all, and many other things that keeps public health, school's, elderly care and on and on. Yes you will not see it at first for a few years but time will come when Congress will go after social security, Medicare and other safety nets that help the working poor and elderly.

    Yes billionaire's need more money than our social network. Please don't tell me about all the welfare mother's when some of the biggest corporations business modules is using nothing but welfare money/subsidies as they like to call them. That takes away from the public good. Big reason we see in many cities school's, libraries and parks struggling or closed down.

    If all corporate welfare was taken away from them the these tax cuts would be find with me. This is just another nail in the coffin to the road to becoming a 3rd world country. This I put the blame on both sides of the aisle. My belief is we are being made the fool by most of our politicians. As long as the corporations own the Congress we will never see average people get a break. Instead of putting cult label name calling on this party or that party we all need to wake up and address the real problem. That's my 2 cents worth. Still Totally ADD

  • dubstepped

    I hope they do gut Obamacare. "Affordable" Care my arse. It's nothing more than expensive insurance that many will never be able to afford to actually use because of high deductibles. My premiums went up 60% this year. Ridiculous. I've never even used it.

    So I'll take my extra tax money and be happy I have at least something in my favor, even if it doesn't offset the entire raise in costs of the "Affordable" Care Act.

  • ttdtt

    Help out the NEEDY UBER WEALTHY!

    1. State and local subsidies to corporations: An excellent New York Times study by Louise Story calculated that state and local government provide at least $80 billion in subsidies to corporations. Over 48 big corporations received over $100 million each. GM was the biggest, at a total of $1.7 billion extracted from 16 different states, but Shell, Ford and Chrysler all received over $1 billion each. Amazon, Microsoft, Prudential, Boeing and casino companies in Colorado and New Jersey received well over $200 million each.

    2. Direct federal subsidies to corporations: The Cato Institute estimates that federal subsidies to corporations cost taxpayers almost $100 billion every year.

    3. Federal tax breaks for corporations: The tax code gives corporations special tax breaks that have reduced what is supposed to be a 35-percent tax rate to an actual tax rate of 13 percent, saving these corporations an additional $200 billion annually, according to the U.S. Government Accountability Office.

    4. Federal tax breaks for wealthy hedge fund managers: Special tax breaks for hedge fund managers allow them to pay only a 15-percent rate while the people they earned the money for usually pay a 35-percent rate. This is the break where the multimillionaire manager pays less of a percentage in taxes than her secretary. The National Priorities Project estimates this costs taxpayers $83 billion annually, and 68 percent of those who receive this special tax break earn more than $462,500 per year (the top 1 percent of earners).

    5. Subsidies to the fast food industry: Research by the University of Illinois and UC Berkeley documents that taxpayers pay about $243 billion each year in indirect subsidies to the fast food industry because they pay wages so low that taxpayers must put up $243 billion to pay for public benefits for their workers.

    6. Mortgage deduction: The home mortgage deduction, which costs taxpayers $70 billion per year, is a huge subsidy to the real estate, banking and construction industries. The Center of Budget and Policy Priorities estimated that 77 percent of the benefit goes to homeowners with incomes over $100,000 per year.

    7. The billions above do not even count the government bailout of Wall Street, while all parties have done their utmost to tell the public that they did not need it, that they paid it back, or that it was a great investment. The Atlantic Monthly estimates that $7.6 trillion was made available by the Federal Reserve to banks, financial firms and investors. The Cato Institute estimates (using government figures) the final costs at $32 to $68 billion, not including the takeover of Fannie Mae and Freddie Mac, which alone cost more than $180 billion.

    8. Each major piece of legislation contains new welfare for the rich and corporations. The Boston Globe analyzed the emergency tax legislation passed by Congress in early 2013 and found it contained 43 business and energy tax breaks, together worth $67 billion.

    9. Huge corporations that engage in criminal or other wrongful activities protect their leaders from being prosecuted by paying huge fees or fines to the government. You and I would be prosecuted. These corporations protect their bosses by paying off the government. For example, Reuters reported that JPMorgan Chase, which made a preliminary $13-billion mortgage settlement with the U.S. government, is allowed to write off a majority of the deal as tax deductible, saving the corporation $4 billion.

    10. There are thousands of smaller special breaks for corporations and businesses out there. There is a special subsidy for corporate jets, which cost taxpayers $3 billion a year. The tax deduction for second homes costs $8 billion a year. Fifty billionaires received taxpayer-funded farm subsidies in the past 20 years.

  • faithnomore

    Yep you'll get a tax cut until the insurance rates rise will happen fast without the mandate, and if you are in a high property tax state you can no longer get SALT (cap 10k), charity and a few other deductions.

    Oh and don't forget this is temporary, will go up and corporations (which have been making tons of $$ for the last several years already) tax cut is permanent.

    ETA: Oh if you live in Cal or NY and rent, expect your rent to probably go up because if owners can't deduct interest they will pass it on to the renters.

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