Trump Tax Plan Calculator

by Tahoe 19 Replies latest social current

• 

  _Morpheus

  Tax cut! Tax cut! Tax cut!

  so many arguments with so many holes.... i dont even know where to start.

  my insurance wont up at all. I have it through my employer as do a good percentage of other americans. Those who dont saw an average increase of 60% in premiums under the so called “afordable” care act. You think it will be worse???? Prior to the ill named ACA preimus went up a mere 10% over the proceeding 5 years. See forbes mag, march 2017 for specifics. Try to keep your armageddon predictions ground in some factual basis. Also ending net neutrality didnt kill the forum yet. Just saying.
• 

  faithnomore

  @morpheus

  I've had health insurance through my husbands employer for 30+ years. Not only did it increase in 2016 from all the campaign promises of repeal I also get less benefits. Higher rate with much higher deductible. So please spare me your n=1 unless you want to acknowledge my n=1 too. Because your insurance rate hasn't gone up yet doesn't mean it won't and it also doesn't mean it hasn't for others.

  No one is saying NN would kill the forum especially immediately, I simply linked the NN response on At&t from "won't" to "don't" which is a bit of a difference don't you agree?

  I linked some facts about At&t raising rates although being given a huge tax cut and now will be able to prioritize websites due to the repeal if/when they so choose. I didn't even link the reports about workers being laid off but here you go...

  http://fox4kc.com/2017/12/20/hundreds-of-metro-att-employees-laid-off-just-before-christmas/

  https://www.dallasnews.com/business/att/2017/12/20/att-plans-lay-nearly-300-center-dallas-next-year

  Thing is I'm ready able and willing to acknowledge when/if I'm wrong:)

  ETA: I responded here with some of the posts from a different thread, my apologies. As I've stated over and over I'm happy to admit when I make a mistake:)
• 

  Outahere

  I'm saving more than $13,000!
• 

  Outahere

  And for those complaining about insurance rate hikes, they've been rising sharply for years under Obamacare. Obama promised it would save the average person $2500. It was a huge lie.
• 

  faithnomore

  According to the tax calculators you are making 350k and above a year for this savings. Good for you!!!!!

  I'm saving more than $13,000!
• 

  Outahere

  Canadians seem nervous.

  http://nationalpost.com/pmn/news-pmn/canada-news-pmn/major-tax-bill-passes-in-u-s-big-consequences-big-debates-ahead-for-canada

  "That’s a debate for Americans to sort out.
  For Canadians, there will be others. In the wake of this bill, policy-makers in Ottawa and the provincial capitals face two dilemmas: whether to react to these ground-shifting tax changes, and how.
  In the blink of an eye, the mighty southern neighbour goes from having one of the highest corporate tax rates in the industrialized world to one that is equal to Canada’s combined federal-provincial rates, which average around 27 per cent.
  For about three decades, tax expert Jack Mintz says Canada’s competitive edge in attracting business investment has rested on a pair of pillars — a far lower corporate tax rate, and free trade.
  One pillar is gone, with the U.S. tax change. The other is wobbling. Tr... ‘Do I invest in Canada, with a small population, small market, to serve the North American market, or do I go to the United States?”‘ said Mintz, of the University of Calgary."

  http://www.zew.de/en/presse/pressearchiv/deutschland-ist-der-verlierer-der-us-steuerreform/?cHash=75addafc432190cf3c257046de2fb167

  Germans too
  

  
  The tax competition will have a new dimension,” said Christoph Spengel, chairman of the corporate tax department at the University of Mannheim. Mr. Spengel, who is also a research associate at the Center for European Economic Research, and a group of tax experts at the university have done a detailed comparison of the two countries’ tax systems and published a report under the heading, “Germany loses out in US tax reform.”
  Clemens Fuest, who heads the Ifo economic think tank, also said he believed German business would suffer. “Investments and jobs will migrate to the US,” he said.
• 

  _Morpheus

  Woe woe woe... did you really say the mere threat of repeal raised your rates. Thats incredibly ill informed. Its also a specious and ridiculous argument. The “threat” of anything dosent affect insurance rates. THERE WAS NO CHANGE. The rates went up as a result CURRENT POLICY, aka the poorly named affordable care act. Its a shame to reach conclusions because of a “feeling”. Lets reason and look at facts.
• 

  faithnomore

  Yep I said it and thank you very much for telling me what I paid for 30+ years vs the benefits I received vs what I started paying in 2016/17 under the threat of repeal.

  I pay an outrageous price for insurance with a very high deductible that started in the 2016/2017 year.

  https://www.zanebenefits.com/blog/affordable-care-act-policy-costs-up-in-2017

  Prices increased 2017 due to some insurance co leaving ACA. Why did they leave?

  Insurance agencies cite cost of setting up AND ongoing uncertainty over federal plans of scaling back the mandate.

  http://money.cnn.com/2017/06/08/news/economy/obamacare-washington-state/index.html

  But you know meh it didn't effect you so it must not be a problem.
• 

  MeanMrMustard

  If that calculator is correct, then it is very good news! Also, I gave it a shot in NY ( high tax state ) and I still get a reduction of nearly 4K.

  Very nice, great success.
• 

  _Morpheus

  Sigh... lets try again. I believe 100% you pay more.

  You pay more as a result of the aca, not the threat of repeal (which sadly didnt happen).

  You are wrong regarding the “why” not the fact of increase.