Trump's Tax Plan

[93henfan]

No income tax on:
Individuals <$25k
Couples <$50k

Reduce highest bracket from 39.6% to 25%

15% Corporate tax
10% one-time tax on overseas profits


Where does the middle class win in this again?

[BDKJMU]

No income tax on:
Individuals <$25k
Couples <$50k

Reduce highest bracket from 39.6% to 25%

15% Corporate tax
10% one-time tax on overseas profits


Where does the middle class win in this again?

Over half of them stop paying income tax?

[AZGrizFan]

No income tax on:
Individuals <$25k
Couples <$50k

Reduce highest bracket from 39.6% to 25%

15% Corporate tax
10% one-time tax on overseas profits


Where does the middle class win in this again?

Over half of them stop paying income tax?

That's not the middle class. That's the 47% that ALREADY don't pay any income taxes...

[93henfan]

No income tax on:
Individuals <$25k
Couples <$50k

Reduce highest bracket from 39.6% to 25%

15% Corporate tax
10% one-time tax on overseas profits


Where does the middle class win in this again?

Over half of them stop paying income tax?

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

[HI54UNI]

Trump's tax plan

http://www.wsj.com/public/resources/doc ... relatedbox

[93henfan]

"Closing loopholes".

That's rich, coming from a slum lord.

[Ivytalk]

Next, I'd like to see the Trump Spending Plan. Where would he cut, and by how much?

[93henfan]

I would give Trump a big, wet kiss if he would allow child support as a deduction.

[Ibanez]

I would give Trump a big, wet kiss if he would allow child support as a deduction.

How about fix ACA? This "Affordable Care Act" is a cluster fuck.


I care slightly more about that than I do about taxes. At this point, the government is going to get my money in one way or another.

[Ivytalk]

I would give Trump a big, wet kiss if he would allow child support as a deduction.

On the cheek, right?

[93henfan]

I would give Trump a big, wet kiss if he would allow child support as a deduction.

On the cheek, right?

If he also made her have to report it as income them I'd slip him the tongue!

[BDKJMU]

Over half of them stop paying income tax?

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

[93henfan]

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

Great. Thanks for sharing.

[Chizzang]

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

Dude...
You're absolutely NOT the research analyst to be blathering on about what is poverty

[andy7171]

Wait. I thought couples making $250K a year were the millionaires and billionaires we should all hate?

[Ibanez]

On the cheek, right?

If he also made her have to report it as income them I'd slip him the tongue!

Child Support isn't reported as income?

[andy7171]

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

What in the fuck!?!

[93henfan]

If he also made her have to report it as income them I'd slip him the tongue!

Child Support isn't reported as income?

Nope. Not for her. And I can't deduct it either.

Plus she gets the child tax credits. And head of household status.

Plus I get to pay single rate as a guy in the six figure brackets.

Yay!

[Ibanez]

A couple making <$50k is essentially in poverty in my book. I see the middle class as families in the $50k-$250k range. Just my

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

I get what you're saying but damn.

Bob and Mary, make $50k.

Minus 25% for Fed. Tax : $12,500 (head of household)
Avg cost of health insurance for 2 non smokers is about $4.500/yr. For dental/vision let's round up to $5,000
Highest State income tax: California @ 13.3%: $6,500
Let's say that roughly 6% of the $50k is taken pretax 401(k) contributions ( approx. $3k)

So, they earn $47,000 minus $17,860 in Fed/State Income Tax minus approx. $5,000 for insurance.

Wait, 6.2% is SS and Medicare: another approx $3k.

So before you get your money, you're down approx. $25k

$50,000 in earnings equals to approx. $21,000 in take home pay. In this scenario. I chose California b/c of the large population.

That couple in California, has $21k to work with during the year. That's pretty low.


I did this math in my head, so if it isn't right, get over it. You get the idea.

[Ibanez]

Child Support isn't reported as income?

Nope. Not for her. And I can't deduct it either.

Plus she gets the child tax credits. And head of household status.

Plus I get to pay single rate as a guy in the six figure brackets.

Yay!

Wow. Ain't that some shit.

[Ibanez]

Let me reiterate that I used vague estimates of tax rates in my post.

[DSUrocks07]

On the cheek, right?

If he also made her have to report it as income them I'd slip him the tongue!

93 for Prez!!!

[93henfan]

If he also made her have to report it as income them I'd slip him the tongue!

93 for Prez!!!

My n..

um, my brother!

How many checks do you send out each month? I only have one, but it's a humdinger!

[BDKJMU]

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

I get what you're saying but damn.

Bob and Mary, make $50k.

Minus 25% for Fed. Tax : $12,500 (head of household)
Avg cost of health insurance for 2 non smokers is about $4.500/yr. For dental/vision let's round up to $5,000
Highest State income tax: California @ 13.3%: $6,500
Let's say that roughly 6% of the $50k is taken pretax 401(k) contributions ( approx. $3k)

So, they earn $47,000 minus $17,860 in Fed/State Income Tax minus approx. $5,000 for insurance.

Wait, 6.2% is SS and Medicare: another approx $3k.

So before you get your money, you're down approx. $25k

$50,000 in earnings equals to approx. $21,000 in take home pay. In this scenario. I chose California b/c of the large population.

That couple in California, has $21k to work with during the year. That's pretty low.


I did this math in my head, so if it isn't right, get over it. You get the idea.

No DINKs making 50k are paying remotely close to 25% fed income on top of FICA & a double digit state.
If they don't itemize there is the standard deduction (2015 $12,600 if filing jointly, $6,300 if separate).
If they do itemize their are deductions like state income tax, property taxes & mortagage interest if they own, health care premiums, etc
So their TAXABLE income is going to be far less than 50k. At most would be $37400 if took standard deduction, less if they itemized. On top of that, the 1st $9225 of taxable income is in the 10% bracket. Taxable income between $9225 and $37,450 is in the 15% bracket. So at most they are going to be paying around 13%.
http://www.moneychimp.com/features/tax_brackets.htm" onclick="window.open(this.href);return false;

That couple isn't paying close to 13.3% CA. Try more like 4%-6%
http://www.tax-rates.org/California/income-tax" onclick="window.open(this.href);return false;

So no they have far more than 21k take home to work with during the year. More like low-mid 30s k.

[BDKJMU]

Well, your book has the most well off people in poverty in the world.. 40-50k isn't poverty if they are DINKs, even in the more expensive northeast or left coast. And if they have kids (esp in the northeast or left coast) they're getting some subsidies..And in much of the low cost of living rural and/or small town parts of the country (esp south, west) 40-50k, kids or not, isn't poverty. Not even 30k..

Dude...
You're absolutely NOT the research analyst to be blathering on about what is poverty

Ok smart guy, what income levels = poverty?