Discussion»Statements»Rosie's Corner» A second tax cut. This time to benefit the middle class. You believe that? The obscenely wealthy are gonna benefit. AGAIN. Surprised?
If you're talking about the middle class tax cut Trump floated before or at his Houston rally, he seems to have already walked that back. Congress is not in session and he can't cut taxes without Congressional approval. It was a ploy to gain votes. Happy Tuesday. :)
OK, but I happen to be a tax professional and student of tax law with SPECIFIC RELEVANT KNOWLEDGE, not some spewer of hyperbole. In fact, as I write this, I am participating in a 2-hour continuing professional education webinar on the Tax Cuts and Jobs Act. A great deal of time is being spent on the increased standard deduction and child tax credits as well as new benefits for people at all levels of income, such as the new credit for other dependents like children 17 and older and elderly parents. These last two DID NOT EXIST BEFORE and they directly benefit FOLKS AT LOWER AND MIDDLE INCOME LEVELS! Some provisions, such as higher income phase-out levels for certain tax credits, do benefit some people with higher incomes, but these changes by no means benefit only the so-called rich.
Sorry, but I have little patience for the knee-jerk reaction of people who maybe click on one or two links - if they bother to make any effort at learning, believe everything they read or hear, and make these blanket, generalizing BS pronouncements like the one in this question. As I said earlier, it's baseless hyperbole, which is more polite than calling it BS.
This post was edited by Stu Spelling Bee at October 23, 2018 4:54 PM MDT
You may believe whatever you wish, but there are several clips of Trump spewing his new tax cuts. Whether they will come to fruition or are meant to be a carrot to get to suck people into voting for him is something we will have to wait to see.
It has nothing to do with voting for Trump or not voting for him. What it has to do with are specific changes to the tax laws and code, and as I said, I have SPECIFIC RELEVANT KNOWLEDGE of these changes, how they will work, and whom they will benefit. And that's because it's my job and my profession, and I STUDY THIS FOR CONTINUING PROFESSIONAL EDUCATION AS REQUIRED BY LAW. I am licensed by the IRS as an Enrolled Agent. If you don't know what that is, then google it. So it's you who may believe what you wish to believe, but with all due respect, I have a great deal more knowledge and credibility on the subject than you. And that goes for our friend Rosie and her buddy Mr. Trump as well. Happy Tuesday!
This post was edited by Stu Spelling Bee at October 23, 2018 5:07 PM MDT
Stu - there can be no supporting data as the statement was made off the cuff and no proposal has been forthcoming. Therefore, you can't be studying tax proposals that have yet to be proposed. Therefore, I took your request for backup support as relating to the comments made by Trump. I am not questioning your knowledge. Have a nice day.
This post was edited by SpunkySenior at October 23, 2018 2:05 PM MDT
What are you talking about? The tax code has been changed for this coming tax season for 2018 returns. Those of us in the tax business are gearing up for the season and we are in the midst of studying and learning about these changes. As I said earlier, I participated in a 2-hour CPE webinar specifically on the Tax Cuts and Jobs Act and how it will affect our 2018 returns. Anything beyond what will affect 2018 returns is pure speculation. And if, as you said, no proposal is forthcoming, then what's the point of the question beyond Rosie's baseless hyperbole?
You are talking about a tax code that has already been codified. The question is about a tax break that is nothing more than a flip remark Trump made ahead of his rally in Houston.
Rosie was commenting, I suspect, on how glibly Trump throws out words that he can't back up. Try to get with the program, Stu. :)
SpunkySenior 