fullspinzoo

Overall, this "Tax Law" is going to cause a major stimulus to the economy, but we must wait and see. http://dailysignal.com/2017/12/20/the-economic-impact-of-the-tax-cuts-and-jobs-act/

pafret Loc: Northeast

This source article, like many others, engages in disinformation and deception by confusion. The Tax Reform Bill is going to be passed and signed into law; the JOBs act was already law. Further, no definition of what is meant by JOB is provided,; it is definitely not employment .

"The Jumpstart Our Business Startups Act, or JOBS Act, is a law intended to encourage funding of small businesses in the United States by easing many of the country's securities regulations. It passed with bipartisan support, and was signed into law by President Barack Obama on April 5, 2012. Title III, also known as the CROWDFUND Act, has drawn the most public attention because it creates a way for companies to use crowdfunding to issue securities, something that was not previously permitted. Title II went into effect on September 23, 2013. On October 30, 2015, the SEC adopted final rules allowing Title III equity crowdfunding. These rules went into effect on May 16, 2016. Other titles of the Act had previously become effective in the years since the Act’s passage."

Crowdfunding is another poorly understood acronym; basically it means that startup businesses were exempt from many of the regulations regarding securities that ordinarily would apply. This was done to encourage small entrepreneurs to start new businesses there by generating new flows of tax revenue and also providing new jobs. As with all such well-intentioned laws, removing restraints can and has led to fraud and other abuses. The crowd of course is the small investor, not major players like banks and pension funds. Just the type of chicken that Wall Street loves to pluck.

So this article states that Tax reform and Jobs act, marrying the two even though this is false, is going to be passed and all will be well in our heaven, not today or tomorrow but in five or ten years. It is going to do this by lowering my Federal Marginal Rate of taxation. Sounds great doesn’t it, but what is the marginal rate you ask? The marginal rate is the rate of tax you pay on any additional income you earn, not your base rate. What is that marginal rate? Well, look up the tax rate for corporations for the same amount of money you earn and this the rate you will pay for each additional dollar you earn.

Not a bad thing at all since corporation rates are being reduced. Oh, I forgot; I don’t have any marginal income. All of it is on a W2 and if I get an extra buck it is between my bookie and me.