Larry the Legend Loc: Not hiding in Milton

And that's a problem. You'd think they were trying to hide something behind all this 'legalese'. Even if they're not, even if this is actually a good-faith attempt at doing what they say they wanted to do (doubtful), what's wrong with good old fashioned plain English? But no, that would be waaaay too easy.

Radiance3

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Here are the facts that will happen on this New Tax Bill approved in Congress.

While analyzing the impact of this New Tax Bill, I think it will have positive effects to our economy, employment, health, and national security.

Here are the reasons why:
1. Standard deduction is almost doubled. Those who don’t itemize are most benefitted on this bill. E.g. The Senior citizens.
a. Those who itemize deduction as in 2017 and prior years are given on this New Tax Bill the benefits of deducting their property tax, or state income tax, to a maximum of $10,000.
b. Those who have mortgages are still allowed to deduct their interest paid for mortgage up to $750,000.
c. Charitable giving is allowed for deduction.
d. Student loan interest is still allowed for deduction.
e. Those who incur massive medical expenses can deduct certain percent.
f. Children are given more allowances to $2,300.

2. Tax brackets have been reduced dramatically, while the income covered are raised higher.
If you compare the 7 tax brackets on this new bill with the present or prior brackets that we have, this new bill has much lower 7 tax brackets than the previous ones.
The rich still pay a staggering high rate of 37%, compared to the 39.6% of the old rate.

3. The corporate tax is reduced to 21% from 35%.
Advantages of this reduction.
a. More employment is created. When more people work, more people pay Federal taxes to the government, like income tax, Social Security Tax, Medicare, and unemployment tax.
b. Our SS and Medicare system will be solvent again when more money pours in versus the number of retirees using the system.
c. When more people work, they have money to buy, homes, goods for consumption, or luxury items and vacation they could afford.
d. When more people work, it will reduce the number of food stampers, and free loaders to our system. They become productive instead of being consumers and dependents to taxpayers.
e. Therefore, when more people work, more demands are created, thus more employment are needed.
f. The businesses will boom, stock market will boom, while your 401K, and 403B increase in value as you retire. All your IRA’s as well are going up.
g. Fact is after this New Tax Bill was approved in Congress, huge companies have proposed to adding investments to the market in billions of dollars. This is great, more people are employed, and the GDP would rise to its highest ever.
h. Reduction of corporate rates will induce US companies abroad to come home. When they are home, they will need more people to work for them. The income they produce is 100% taxable here instead of giving the money to foreign countries.
AT & T, and Boeing recently announced after this New Bill approved, that they will give millions fo dollars as bonuses to their workers, and add investment to the market tens of billions of dollars. This is very good news. I think more companies will follow them, as rewarding their employees this Christmas

4. Eliminations of the Personal Exemption has positive effects.
a. Why? It will correct the tens of thousands of fraudulent claims in the taxpayers’ personal exemptions. It was discovered by the IRS that tax returns by Mexicans, and others, have mostly claimed several dependents on children, brothers/sisters, parents, aunts, uncles, or family relatives living with them as i*****l a***ns. As a result, all the taxes withheld from their payroll are refunded to them. They end up paying no taxes at all. It was reported that the IRS lost tens of billions of dollars due to these fraudulent schemes. We must be aware that taxpayers pay i*****l a***ns at least $116 billion annually for various benefits.
b. Removal of personal exemptions cleaned out fraud from dishonest filers.

5. Positive impact to our National Security.
Our budget will increase, providing more funds to our national defense, military and equipment.

6. When more people work, more people are covered with quality Medical Care Insurance, instead of depending on Medicaid via the ACA.

Democrats under Schumer and Pelosi, have been adamantly attacking this tax cut. Why? They have nothing positive to contribute to our country, but multiply free loaders and handouts, i*****l a***ns, DACA for their v**ers, and Muslims including terrorists. In addition, they are champion in Fraud, Deceptions and Lies. E.g. Hillary, Holder, and Obama’s crimes are all covered up.

Larry the Legend Loc: Not hiding in Milton

If Pelosi doesn't like it, it's probably a good idea. Maybe they should make her pass it to see what's in it....

Liberty Tree

What you say is good, but the long term affects are unknown so keep an open mind.