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roamer65

(36,745 posts)

15. Just wait until it blows a hole in the deficit and invokes a dollar crisis.

Reply to Le Gaucher (Original post)

Thu Nov 2, 2017, 10:46 AM

Nov 2017

That's when the real fun starts.

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This is terrible tax plan for middle level managers [View all] Le Gaucher Nov 2017 OP

My wife and I will be hit hard. We're upper middle class in California taught_me_patience Nov 2017 #1

I do not have your situation BUT I DO CARE Angry Dragon Nov 2017 #3

Thanks. taught_me_patience Nov 2017 #7

All my tax proposal related threads have sunken like stone Le Gaucher Nov 2017 #9

Same here. The net result is an even larger draining of California tax money out of state Johonny Nov 2017 #12

I am in your boat ... based on the plan I am looking at 10k more Fed taxes MyNameIsKhan Nov 2017 #2

My fear is that there aren't enough of us to topple this tax reform Le Gaucher Nov 2017 #4

I hope that republicans in blue states block it taught_me_patience Nov 2017 #5

huh ! the russian stooge MyNameIsKhan Nov 2017 #6

The issue is how to fund the tax breaks Repukes have promised, 5.5Trillion over 10years and MyNameIsKhan Nov 2017 #8

My fear is that Democrats from poor districts in Red states will support it Le Gaucher Nov 2017 #10

Yeah, this seems like an incredibly risky gamble for the GOP cemaphonic Nov 2017 #44

Capping the mortgage interest deduction at 500k makes it even worse taught_me_patience Nov 2017 #48

I am reading the tax reform.. Looks like 401k and property tax Le Gaucher Nov 2017 #11

Without the personal exemption and state taxes Johonny Nov 2017 #13

agreed .. I am still going to be hit. Le Gaucher Nov 2017 #17

They left the 401k alone, but the property tax deduction is capped to $10,000 from what I've read. WillowTree Nov 2017 #20

not uncommon to have 25k property taxes in my town Le Gaucher Nov 2017 #21

This message was self-deleted by its author WillowTree Nov 2017 #23

This message was self-deleted by its author WinkyDink Nov 2017 #36

Trump's Middle Class Tax Hike lagomorph777 Nov 2017 #14

Just wait until it blows a hole in the deficit and invokes a dollar crisis. roamer65 Nov 2017 #15

Not sure how the plan would affect me. But being single with no kids and no mortgage and SweetieD Nov 2017 #16

I refi'ed my student loan using SoFi Le Gaucher Nov 2017 #18

My student loan situation is a nightmare. And is the subject of another thread. There is no SweetieD Nov 2017 #19

same here .. I pay $700/month in student loans Le Gaucher Nov 2017 #22

I am in the same situation as you. It's a nightmare and the republicans are only making it worse. smirkymonkey Nov 2017 #45

This message was self-deleted by its author WinkyDink Nov 2017 #30

We are far below upper middle class Skidmore Nov 2017 #24

We're going to take a hit too Bettie Nov 2017 #25

I doubt many people will be hurt DIRECTLY in the plan released today. Some will, but Hoyt Nov 2017 #26

This message was self-deleted by its author WinkyDink Nov 2017 #28

You must be making a ton of money unless by "much increased" you mean a few thousand dollars. Hoyt Nov 2017 #31

This message was self-deleted by its author WinkyDink Nov 2017 #37

So, you still deduct your $5500 under Trump's plan. You lose some state income tax deduction, but Hoyt Nov 2017 #39

This message was self-deleted by its author WinkyDink Nov 2017 #43

That would be one of those other matters to criticize ("whine" about). Hoyt Nov 2017 #47

It's a big give away to the rich, but not awful for the poor Johnny2X2X Nov 2017 #27

This message was self-deleted by its author WinkyDink Nov 2017 #29

It's not what they want. Johnny2X2X Nov 2017 #32

This message was self-deleted by its author WinkyDink Nov 2017 #34

That's exactly how I would put it. Le Gaucher Nov 2017 #38

One thing, they are eliminating the personal exemption, so you aren't getting a doubling of Hoyt Nov 2017 #35

This message was self-deleted by its author WinkyDink Nov 2017 #33

I don't know. Every ignorant GOPer I've ever me thinks they are going to make a million dollars Hoyt Nov 2017 #40

They think they are getting 4K tax refunds next year nt maryellen99 Nov 2017 #42

I wish the media spoke in term of a median and not mean. Le Gaucher Nov 2017 #46

I have heard that those things are non-starters. Demsrule86 Nov 2017 #41

I'd save quite a bit in taxes with this plan... Joe941 Nov 2017 #49

My Republican Congressman is voting against it .. Le Gaucher Nov 2017 #50