45th President of the United States, Donald Trump. (Vol 6)

45th President of the United States, Donald Trump. (Vol 6)

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Discussion

paulguitar

1,923 posts

51 months

Monday 11th February
quotequote all
CSLM3CSL said:
As an outsider, Trumps tax reforms look pretty good to me. A lower rate of tax with less deductions makes alot of sense. For example the deduction in mortgage interest encourages people to have a high level of debt, it bids up the cost of house prices. Why should the rich get a deduction on mortgage interest when the poor pay their rent after tax?
The proof is in the pudding, as the saying goes. We will know more once everyone has had their rebates, but it is looking so far as if the less well off have been royally screwed whilst the top enders have benefited handsomely.

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
paulguitar said:
CSLM3CSL said:
As an outsider, Trumps tax reforms look pretty good to me. A lower rate of tax with less deductions makes alot of sense. For example the deduction in mortgage interest encourages people to have a high level of debt, it bids up the cost of house prices. Why should the rich get a deduction on mortgage interest when the poor pay their rent after tax?
The proof is in the pudding, as the saying goes. We will know more once everyone has had their rebates, but it is looking so far as if the less well off have been royally screwed whilst the top enders have benefited handsomely.
Of course with another shutdown looming, the IRS would be shutdown again as they are already struggling to play catchup from the last one.

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
According to an analysis of Trump's schedules obtained by Axios, on only nine of the 67 days for which they obtained a schedule was there anything besides "executive time" slotted before 11 a.m.

Such as:
Donald J. Trump
@realDonaldTrump

The mainstream media has refused to cover the fact that the head of the VERY important Senate Intelligence Committee, after two years of intensive study and access to Intelligence that only they could get, just stated that they have found NO COLLUSION between “Trump” & Russia....

5:48 AM - 8 Feb 2019

Yup donald, the GOP sure covered your arse for two years

So now that everyone else in your team is being arrested it's not only trump and russia?

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
New filing released Friday showed Muellers investigation for 16 months has cost $25m, though it may have actually paid for its own investigation, with its probe leading to monetary estimated gains of up to $48 million for the government through the tax evasion the investigation has revealed.

https://www.cnbc.com/2018/12/14/mueller-investigat...

Blackpuddin

8,742 posts

143 months

Monday 11th February
quotequote all
good
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Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
Possibly another $2.8bn from trump foundation

Lazermilk

1,514 posts

19 months

Monday 11th February
quotequote all
Byker28i said:
Possibly another $2.8bn from trump foundation
$2.8bn?? yikes

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
Lazermilk said:
Byker28i said:
Possibly another $2.8bn from trump foundation
$2.8bn?? yikes
Lol, million. ta

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
Ahead of trumps El Paso rally, El Paso county commissioners passed a resolution complaining that Trump has "continuously made inaccurate claims about the US's southern border, including El Paso," and saying they're "disillusioned by Trump's lies regarding the border and our community
https://www.nbcnews.com/news/amp/ncna970256

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
Senate Intel Committee has delayed Michael Cohen's private testimony that was planned for tomorrow at Cohen's request, per Lanny Davis, "due to post surgery medical needs. A future date will be announced by the Committee.

That's the third different reason for a delay... he has to report to jail in march.

shed driver

763 posts

98 months

Monday 11th February
quotequote all
Byker28i said:
Senate Intel Committee has delayed Michael Cohen's private testimony that was planned for tomorrow at Cohen's request, per Lanny Davis, "due to post surgery medical needs. A future date will be announced by the Committee.

That's the third different reason for a delay... he has to report to jail in march.
Can he testify whilst doing time?

SD.

Byker28i

15,737 posts

155 months

Monday 11th February
quotequote all
Cohen had surgery a few weeks ago (he was photographed wearing a sling on his way into his house). He is currently scheduled to report to federal officials to be taken into custody on March 6

silentbrown

4,274 posts

54 months

Monday 11th February
quotequote all
CSLM3CSL said:
As an outsider, Trumps tax reforms look pretty good to me. A lower rate of tax with less deductions makes alot of sense. For example the deduction in mortgage interest encourages people to have a high level of debt, it bids up the cost of house prices. Why should the rich get a deduction on mortgage interest when the poor pay their rent after tax?
We had MIRAS in the UK until 2000. It's primarily a political/social tool to widen property ownership which feels like a good thing in principle, but has the side effect of ramping up house prices.


kilty2

204 posts

109 months

Tuesday 12th February
quotequote all
Tax in the States (as Tallow has stated) is roughly similar to the UK - Employers take tax out of employee paychecks at source. They do this based on IRS guidelines and individual employee salaries. In the UK, unless you had some other form of external income you would be "all squared away" with the taxman.

In the States the difference lies with the fact that family income (married filing jointly) means the combined income of your + your spouses income is what you are taxed on.

Sliding tax brackets are similar to the UK - but if you earn say $100K your employer only calculates what your tax witholding is based on your income, if your spouse earns $100k (her employers only withhold based on that as an income). This has always been the case and you can request extra withholding based on your knowledge that your combined income will cost you more.

The issue today with tax refunds, is more due to the fact that the tax change bill passed just before the new tax year and the IRS had little time to figure out new tax guidelines to give to employers, as a result, employers have been withholding too little tax.


A lot of people have been getting a couple of hundred bucks a month more in their paychecks (sic) and not really noticed, whereas before, this money would be given back in a lump sum as the refund.

My wife is a teacher and works under the standard employer/employee system, I have been a standard employee as well (and we have had to ask for more tax to be taken at source). Now, I have my own company (slightly rounding middle aged company director who pays someone else to dominate my stairs lol) and I have a little more flexibility in how I realise my income so there are no tax return surprises. I am a one man band (IT consultant) if our family taxes look to be too high at the end of the year, I can divert company income to my IRA (pension fund - taxes deferred until retirement) and reduce the immediate liability.

Pupp

9,562 posts

210 months

Tuesday 12th February
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Just listening to R4 and it is being reported that agreement has been reached on the wall funding so resumed govt shutdown likely avoided, but apparently the Tangoed controller might be unaware... will look for a link

Pupp

9,562 posts

210 months

Byker28i

15,737 posts

155 months

Tuesday 12th February
quotequote all
Byker28i said:
Ahead of trumps El Paso rally, El Paso county commissioners passed a resolution complaining that Trump has "continuously made inaccurate claims about the US's southern border, including El Paso," and saying they're "disillusioned by Trump's lies regarding the border and our community
https://www.nbcnews.com/news/amp/ncna970256
The crowd chanted "lock her up" at trumps El Paso rally last night.
It's been 824 days since the election...

Statistics contradict Trump's claim about El Paso's border fencing. Violent crime was already on the downswing before the city's fencing was completed in 2009, and then it slightly increased after it was finished
https://www.nbcnews.com/news/amp/ncna969341

“El Paso was NEVER one of the MOST dangerous cities in the US,” El Paso Mayor Dee Margo, a Republican, tweeted after Trump’s State of the Union. “We‘ve had a fence for 10 years and it has impacted illegal immigration and curbed criminal activity. It is NOT the sole deterrent.

Byker28i

15,737 posts

155 months

Tuesday 12th February
quotequote all
How many law suits does this make against trump? Even I've lost count

Cliff Sims, the ex-W.H. aide, is suing Trump in his official capacity, alleging that he used his campaign organization as a "cutout" to improperly seek retribution against former employees and keep them from invoking their First Amendment rights
https://www.nytimes.com/2019/02/11/us/politics/cli...

Byker28i

15,737 posts

155 months

Tuesday 12th February
quotequote all
There's a butterfly refuge in Texas has been forced to court to stop trump building a wall through their land and to stop trespassing

https://www.texasobserver.org/butterfly-trump-rest...

Byker28i

15,737 posts

155 months

Tuesday 12th February
quotequote all
Don Jr is the co-trustee of the President’s trust, which is supposed to somehow guard against conflicts between his public career and his private business. He is appearing with the president at a political rally tonight

Mind you there's no separation as its also a revocable trust that says it “shall distribute net income or principal to Donald J. Trump at his request"