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Find out if your taxes are going up or down (1 Viewer)

Harry Manback said:
You should be, you literally are destroying this country and environment. Bully for you that you as an individual haven't contributed, but when YOU people bundle millennials into a subgroup you like to #### on, I don't see exceptions made for the "good ones".

Unsurprisingly, the biggest complainers against the "####ification of America" and "Safe Spaces" are the first to cry foul when they feel victimized and embody those same qualities. 
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 It sounds like you need a hug.

 
Harry Manback said:
Go back to your safe space with your "Make America Great" had and white hood.
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Typical for millennials to whine and cry instead of doing something about it, lash out with poor assumptions and even call people racist.  As if they are automatically entitled to everything.

 
Harry Manback said:
You should be, you literally are destroying this country and environment. Bully for you that you as an individual haven't contributed, but when YOU people bundle millennials into a subgroup you like to #### on, I don't see exceptions made for the "good ones".

Unsurprisingly, the biggest complainers against the "####ification of America" and "Safe Spaces" are the first to cry foul when they feel victimized and embody those same qualities. 
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Hopefully you can get one of those jobs that feeds you snacks and lets you take a nap.

 
The baby boomers did a good job at some things and a bad job at others.

The millennials do a good job at some things and a bad job at others.

The Republicans and Democrats both suck.

Some things are easier today than they were in the 70's & 80's and some things are harder.

Generalizations of generations get us nowhere. 

 
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Harry Manback said:
Baby boomers love to #### on millenials, but truth be told history will look on them the most unfavorably. They have done worse for the country and the environment than any generation in history. 
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How's the environment worse now that it was in the 50s-70s?

 
sublimeone said:
:confused:
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President Trump's chief economic advisor Gary Cohn said Thursday middle-class Americans would benefit significantly from the GOP tax reform proposal, including renovating a kitchen with $1,000.

The former Goldman Sachs CEO said families earning $100,000 with two children would save about $1,000 under the tax plan.

"If we allow a family to keep another $1,000 of their income, what does that mean? They can renovate their kitchen, they can buy a new car, they can take a family vacation, they can increase their lifestyle," he said.

 
Chemical X said:
President Trump's chief economic advisor Gary Cohn said Thursday middle-class Americans would benefit significantly from the GOP tax reform proposal, including renovating a kitchen with $1,000.

The former Goldman Sachs CEO said families earning $100,000 with two children would save about $1,000 under the tax plan.

"If we allow a family to keep another $1,000 of their income, what does that mean? They can renovate their kitchen, they can buy a new car, they can take a family vacation, they can increase their lifestyle," he said.
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I renovated my kitchen for $3000.  Removed drop ceiling and installed a permanent, put in recessed lighting, tiled backsplash, granite counters, new faucets, under mount sink.  The counters cost $2000, the rest was pretty cheap.

 
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Snotbubbles said:
I renovated my kitchen for $3000.  Removed drop ceiling and installed a permanent, put in recessed lighting, tiled backsplash, granite counters, new faucets, under mount sink.  The counters cost $2000, the rest was pretty cheap.
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You must have done the job yourself cause there is no way a contractor would do all of that for a couple hundred bucks. You also must not have much countertops and/or used thinner granite to pay $2000 cause that is an incredible deal.

Even with all that you're still 3x what Cohn thinks it costs to renovate a kitchen

 
Godsbrother said:
You must have done the job yourself cause there is no way a contractor would do all of that for a couple hundred bucks. You also must not have much countertops and/or used thinner granite to pay $2000 cause that is an incredible deal.

Even with all that you're still 3x what Cohn thinks it costs to renovate a kitchen
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Live in a row house in Philadelphia and no, there isn't much counter space.  My buddy is a contractor, so he got his crew to come out and do the work.  He gave me the place he uses for counters and measured everything out for me so they knew how to cut it which saved money and then he went and picked up the counters and installed them.  Framed the ceiling, put up the drywall, installed the recessed lighting, installed the tiled back splash. 

I did paint the kitchen myself. 

 
Snotbubbles said:
Live in a row house in Philadelphia and no, there isn't much counter space.  My buddy is a contractor, so he got his crew to come out and do the work.  He gave me the place he uses for counters and measured everything out for me so they knew how to cut it which saved money and then he went and picked up the counters and installed them.  Framed the ceiling, put up the drywall, installed the recessed lighting, installed the tiled back splash. 

I did paint the kitchen myself. 
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Ah, so what Cohn meant to say was that with $1000 you can renovate a third of your kitchen provided its really small and you have a buddy to do the work and you're not replacing the cabinets or appliances.   That makes sense now.    

 
This totally seems like a great idea. Trump is laughing his ### off:

Economists and tax experts are overwhelmingly skeptical that the bills in the House and Senate can generate meaningful job growth and economic expansion. Many view the legislation not as a product of genuine deliberation, but as a transfer of wealth to corporations and affluent individuals — both generous purveyors of campaign contributions. By 2027, people making $40,000 to $50,000 would pay a combined $5.3 billion more in taxes, while the group earning $1 million or more would get a $5.8 billion cut, according to the Congressional Joint Committee on Taxation and the Congressional Budget Office (CBO).

 
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Godsbrother said:
Born in 1959.  Got my first job when I was 10 on a paper route, worked during high school at a pizza shop, worked during college as computer operator and paid my own education, graduated in 4 years, got married, and have been working ever since.  Raised 3 kids, paid their college education, and all are working.   I've paid into Social Security my entire working career without taking 1 dollar.    Pretty much the same for my 5 siblings.

Sorry we are such screw ups and have messed up your life.
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Pretty similar for me, except I was born 10 years later, so I'm currently paying my kids' tuition as they go through school. But with one little difference - unlike you, i'm not going to see the full benefits of my long working life of paying into Social Security.

Based on the Social Security Administration's 2015 report, the trust is on track to be depleted in 2034. Which happens to be the year I turn 65. 

 
Sounds like more changes coming, one was raising rates on pass throughs which would suck. Looks like I’ll save $1-2k but that change could wipe that out. 

 
NutterButter said:
Ah, so what Cohn meant to say was that with $1000 you can renovate a third of your kitchen provided its really small and you have a buddy to do the work and you're not replacing the cabinets or appliances.   That makes sense now.    
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Renovate and remodel are two different things.  

 
The General said:
This totally seems like a great idea. Trump is laughing his ### off:

Economists and tax experts are overwhelmingly skeptical that the bills in the House and Senate can generate meaningful job growth and economic expansion. Many view the legislation not as a product of genuine deliberation, but as a transfer of wealth to corporations and affluent individuals — both generous purveyors of campaign contributions. By 2027, people making $40,000 to $50,000 would pay a combined $5.3 billion more in taxes, while the group earning $1 million or more would get a $5.8 billion cut, according to the Congressional Joint Committee on Taxation and the Congressional Budget Office (CBO).
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Love these "by 2027" zombie apocalypse article analyses.  The expiring portions of the tax code are used as political bargaining chips. 

The tax code will be changed by whomever is in the White House well before then, if not, the expiring credits will be extended and all the politicians will pat themselves on the back telling their constituents what great Americans they all are for getting the extensions done.  

 
The_Man said:
Pretty similar for me, except I was born 10 years later, so I'm currently paying my kids' tuition as they go through school. But with one little difference - unlike you, i'm not going to see the full benefits of my long working life of paying into Social Security.

Based on the Social Security Administration's 2015 report, the trust is on track to be depleted in 2034. Which happens to be the year I turn 65. 
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Yeah that sucks and it sucks for me too cause I plan on working past 65 so I'm likely not going to see full benefits throughout my lifetime either.   That really isn't baby boomers fault though -- it was a flawed program from the start that "worked" as long as we had more people paying into it than getting benefits.  There are ways to "fix" it but the politicians don't have the balls to do it.

 
jamny said:
Are people also checking to see if taking the standard deduction is better if you calculated a loss by itemizing?

A lot of people saying NY homeowners are screwed but:

Itemizing:

House Save $821,

Senate Save $1602

Standard Deduction:

House Save $6960

Senate: Save $7742
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I'm guessing they are comparing the proposed Standard Deduction to the current standard deduction and not the proposed standard deduction to your current itemized deduction which is much higher

 
Snotbubbles said:
Love these "by 2027" zombie apocalypse article analyses.  The expiring portions of the tax code are used as political bargaining chips. 

The tax code will be changed by whomever is in the White House well before then, if not, the expiring credits will be extended and all the politicians will pat themselves on the back telling their constituents what great Americans they all are for getting the extensions done.  
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Shhhhhh. Political realities have no place here. That's a clear point about a possible future that allows him to take a shot at the other side. That's all that's important. 

 
Snotbubbles said:
Live in a row house in Philadelphia and no, there isn't much counter space.  My buddy is a contractor, so he got his crew to come out and do the work.  He gave me the place he uses for counters and measured everything out for me so they knew how to cut it which saved money and then he went and picked up the counters and installed them.  Framed the ceiling, put up the drywall, installed the recessed lighting, installed the tiled back splash. 

I did paint the kitchen myself. 
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:doh:  Why even share this story?  It's not applicable to anyone else.

 
Dedfin said:
:doh:  Why even share this story?  It's not applicable to anyone else.
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Because he proved that you can renovate a kitchen with a $1,000 tax cut.   

All you need is small kitchen with little counter space, have contractor buddies that work for free, do some of the work yourself and you steal 2 other people's tax cuts.

 
Godsbrother said:
Because he proved that you can renovate a kitchen with a $1,000 tax cut.   

All you need is small kitchen with little counter space, have contractor buddies that work for free, do some of the work yourself and you steal 2 other people's tax cuts.
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I especially like your steal 2 other people's tax cuts.  Like that's a thing.  Government please take money that I earned and give it to someone else.

 
Oh my gracious, yes Cohn is an idiot that doesn't have a firm grasp of the reality of the true cost of things.  Good job, Columbo, lets move on.

 
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