Trump's tax cuts: My result

Tell that to those who have to walk and can't afford $20k new vehicles (minimum these days).

 

Truth: Mueller
Lied: Barr

Be patient and the truth will come out.

 

Barr quoted Mueller.
Show that Barr lied.

 

You should know by now that Barr did not quote Mueller.
https://www.teamblind.com/article/B...g-of-Trump-than-his-summary-admitted-HvEgHcY8

 

It's not due to a shortage.

 

As the report states: “[T]he investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities.” 1

1 In assessing potential conspiracy charges, the Special Counsel also considered whether members of the Trump campaign “coordinated” with Russian election interference activities. The Special Counsel defined “coordination” as an “agreement—tacit or express—between the Trump Campaign and the Russian government on election interference.”
https://www.nytimes.com/interactive/2019/03/24/us/politics/barr-letter-mueller-report.html

Barr quoted the report - thus, Mueller.

Show that Barr lied.

 

You don't understand the graph. There was a huge inventory of NEW cars during the Great Recession. That's why GM nearly went belly up. Obama trashed the older cars to spike sales of new ones. So in essence the old cars were demolished and the automakers cut back production.

 

Thank you for solidifying my point.

 

So we are back to pretending the housing bubble caused Bush's economic crash, instead of the tax cuts and banking deregulation that were the real culprits.

 

You cannot show this to be true.

 

Who's pretending?

 

I'm losing money.

Usually I would get about $7000-$8000 on my return because I would itemize and take a bunch of expenses from a business I own. I run the business as a LLC, so I pay it's taxes as personal taxes. Trump cut a bunch of deductions for people who itemize, and so I would only get about $1500 back if I itemized. I get a little over $3000 if I use the standard deduction, In the end thoough. Either way, I am losing thousands of dollars.

 

Yep, and it didn't hurt a thing.

 

Your refund mean nothing -- change in effective tax rate is what matters.

 

dup

 

Considering that the medium price of a new car today is $35,000. (and that's light car). it didn't hurt a thing.

 

I suggest you stop doing your own taxes. Immediately.
One way to play the new tax law: Start an LLC


One of the most notable provisions in the Tax Cuts and Jobs Act is a 20 percent deduction for qualified business income from so-called pass-through entities, including S corporations and limited liability companies.




https://www.cnbc.com/2018/01/25/one-way-to-play-the-new-tax-law-start-an-llc.html

 

That doesn't work if the deductions you take are no longer allowed. I am no longer allowed to take over a dozen deductions that I used to take. This includes mortgage payments for a warehouse I own for my business.

 

You think todays pricing is related to what happened in the used car market 10 years ago?
That's the

 

Actually no. What matters is the amount in you pay in taxes. I have more taxable income, and I pay more overall once deductions are made, even with an lower rate.

If your tax rate is 15%, and you are allowed to get deductions for a huge chunk of your taxable income, than you are gonna lose money if those deductions go away even if your rate goes down.

Thew new rate only helps people who use the standard deduction. It hurts anyone who itemizes since they are losing a large amount of deductions.

 

Activision's result:

Activision Blizzard is one of sixty companies effectively being paid for by you as it rakes in billions of dollars without giving one thin dime of it back.

Bobby Kotick, the 45th most overpaid CEO in the nation, sits atop a company that boasts of record revenue while exploiting the system to avoid income tax. Using a tax haven on Holland and the United States' own lax rules to get a ******n rebate.

Almost all of the companies reported received money back from the government. Corporate welfare only goes from strength to strength, huh?​

 

You can deduct that interest up 1,000,000 of personal debt. What's your mortgage balance? Who holds the paper? There are multiple ways to work around that by restructuring ownership or debt.

 

You are now getting a 20% deduction from your distributions from your LLC that weren't there before. Again, get someone else to do your taxes. Sheesh.

 

The amount you paid in taxes means nothing without referencing your income.

 

The inventory of old cars destroyed certainly attributes to what the market will bear for new ones. Get a clue.