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Thread: How Will the Republican Tax Bill Affect You - or BOHICA!

  1. #21
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    The American people have very short memories. By next fall, this will be largely forgotten, except by those who are directly screwed. In a couple years, when the next GOP Depression starts, it won't even be remembered.

  2. #22
    Volcano Tamer suddenseer's Avatar
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    For the next year, it will be republitardo scorched earth policy. Sounds like something Allstate sells.

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  3. #23
    La Rata Del Desierto K7SGJ's Avatar
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    Quote Originally Posted by K0RGR View Post
    The American people have very short memories. By next fall, this will be largely forgotten, except by those who are directly screwed. In a couple years, when the next GOP Depression starts, it won't even be remembered.

    I don't know about that. There are a lot of people that are pissed purple about things he has said, done, tweeted, and lied about. Even passing the tax bill is terribly unpopular according to the many polls I've seen. And, even if some people do forget, the Dems will certainly remind them. I believe that trumps base has shrunk a bit, and he hasn't won over many of those that opposed him. other than big business who will certainly be funding his next campaign. Personally, up to now, I think the biggest thing that will bring him down is all of the lie filled tweets, and all the lies he has verbalized. Of course there is Charlottesville. Of course there is the Access Hollywood thing again. Of course there is the climate thingy. Of course there is the Jerusalem thingy. Of course there is DACA. Of course there is......................
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  4. #24
    Master Navigator HUGH's Avatar
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    A concern in the rest of the world rests with the proposed increase in wealth of giant companies and corporations. The USA doesn't have a good reputation regarding purchasing and taking over control of businesses outside the USA. I try to be open-minded in spite of being affected by two takeovers in my working life, the first was a disaster resulting in closure of the company within a year. I'll spare you the details, the second wasn't very clever but the company appears to have been rescued following a takeover by a Japanese company.

    My essential point is that many long-established businesses in the UK have disappeared following the aformentioned takeovers and not in any kind of rational or ethical way. One problem is the "Special Relationship" between Britain and the USA which manifests as a good US-UK trade balance very much in our favour. Teresa May is treading carefully here so as not to jeopardise this bonus but the POTUS is regarded with much distaste, even loathing. If he comes here and is jeered and booed by placard-waving crowds he'll likely return home and tear up current agreements in a fit of red-faced rage.
    Last edited by HUGH; 12-23-2017 at 12:14 PM.

  5. #25
    Master Navigator n6hcm's Avatar
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    i swear .. i have no idea how the new rules are going to screw me. my california house goes on the market next month, and i have no idea wtf is going to happen (the house will sell, and probably well over asking because san francisco, but ....)
    "... and another thing about you democrats ... you all believe in science!" -- denny crane

  6. #26
    Volcano Tamer PA5COR's Avatar
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    Not worried too much, Dutch economy is booming, 3.8% growth to GDP, unemployment very low, 4.4% and filling jobs gets difficult.
    Government has a surplus and debt paid off fast less as 50% of GDP.
    In August i'm pensioned, and my own paid in pensions will start paying in next to the state pension we also pay in for so financially i'm better off as now on disabillety allowance.
    Saving up what i can spare, to have a good fall back fund if anything breaks and needs replacing or live on for at least 6 months without income, nearly there.
    All is paid for, no debts, frugal with spending money, these might be a few fat years to come economically, but as usual there will be the next financial crisis around the corner.
    Same as out government is doing, save in the good years, pay off debts and have a decent reserve if an crisis pops up.

    Reaching the pension age taxes go down from 38% to 19% leaving net more money in the kitty from state and own paid in pension schemes.
    Staying healthy now becomes the main problem.
    I won't be rich but living comfortablly is in the future.
    "If the Republicans will stop telling lies about the Democrats, we will stop
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    At some point in the last 20 years, the left moved to the center, and the right moved into a mental institution

  7. #27
    Master Navigator HUGH's Avatar
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    'COR I hope you find, as I have, that your effective income increases for the lower tax and fewer expenses simply involved in working. I've spent well on components and tools, including gardening stuff, which I would baulk at before. Prosperous New Year to you and all.

  8. #28
    Volcano Tamer PA5COR's Avatar
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    Thanks Hugh.
    Enough electronic components to keep me busy for decades....;)
    Most household goods replaced the last years by new ones, the old Hyndai Atos is 19 years young, in excellent condition, good for another few years, and just 55K miles on the meter.... dont drive much these days, just shopping and the shooting club and the occasional visit to family and friends.

    Enough tools to start a machine shop, angle grinders electric drills etc etc etc.... from being pipe fitter//welder, working on my cars over the years.
    Spare antenna's new in box, lots of aluminium rods to build verticals etc, so not much needed in the future.
    My trips to the roof getting less, most is stainless steel so just a check up once every 2 years is good enough.

    I'm used to work with high income when i worked, 4 K+ a month net, but equally when making 1 K a month, i reset my spending just as easy.
    No debts, no loans, credit card if used gets paid off end of the month, saving along the way.
    Having spare time in abundance lets me shop cheap, doing the odd job on the side is used for replacing stuff at home.
    3 Transceivers ft 100, ft 2000 - D and Ft 847 with Collins filters no need for new one(s), rebuild Heathkit SB-1000 new 3 - 500 ZG will last years to come.

    Most of the garden is paved anyway ;)
    So the new grass mower just needs to cut the 25 square meters in the front garden.
    No " green" hands here, just a separate fruit and veggie plot to grow fresh veggies, potatoes and herbs.
    Comunal plot, so we growers exchange products when needed, and get fresh stuff on the table cheap without chemicals.
    "If the Republicans will stop telling lies about the Democrats, we will stop
    telling the truth about them." - Adlai Stevenson (1900-1965)
    Im not liberal/conservative, Im anti-idiotarian.
    At some point in the last 20 years, the left moved to the center, and the right moved into a mental institution

  9. #29
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    Quote Originally Posted by n6hcm View Post
    i swear .. i have no idea how the new rules are going to screw me. my california house goes on the market next month, and i have no idea wtf is going to happen (the house will sell, and probably well over asking because san francisco, but ....)
    I might be able to answer some of that in another month or two. H+R Block will have an online calculator on their website that you can use to project what next year will look like based on what this year's looks like. There are really too many variables at play.

    First, if you itemize deductions, you might want to reconsider. A number of popular deductions went away or are now limited in some way. The biggest problem I see is the elimination of the personal exemption - that's $4,070 for each member of your household that you can claim as dependents. That's a before-tax exemption, so for most people, it means about $1,000 in your pocket. They doubled the Child Tax Credit, so you get $2000 instead of $1000 for each child under 17. New, there is a tax credit for non-child dependents, which would include kids over 17, parents, etc., for $500 per person.

    Some of us get to see a reduction in our tax bracket, and generally the more you make, the bigger the reduction until you start making millions. I think mine improves by about 4%, which might be significant. But I'm afraid the way they've done it, it will increase my taxable income, which is what my state taxes are based on.

    None of this will kick in until 2019 (2018's taxes).

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