General Discussion

smirkymonkey

(63,221 posts)

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

Thu Nov 2, 2017, 01:26 PM

Nov 2017

There is no way out but death. Meanwhile, billionaires like Trump go bankrupt to the tune of millions all the time and just walk away from their obligations time and time again, but people like us can't even get a break.

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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