Unconscionable” tax bill

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Lowers individual tax rates for low- and middle-income Americans
to Zero, 12%, 25%, and 35% so people can keep more of the money they earn throughout their lives, and continues to maintain 39.6% for Americans who make more than 1 million or more. https://waysandmeans.house.gov/taxreform/

Lowers individual tax rates for low- and middle-income Americans
to Zero, 12%, 25%, and 35% so people can keep more of the money they earn throughout their lives, and continues to maintain 39.6% for Americans who make more than 1 million or more.

Significantly increases the standard deduction
to protect roughly double the amount of what you earn each year from taxes – from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.

Eliminates special-interest deductions
that increase rates and complicate Americans’ taxes – so an individual or family can file their taxes on a form as simple as a postcard.

Takes action to support American families
by expanding and enhancing important family-focused tax benefits

Establishing a new Family Credit, which includes expanding the Child Tax Credit
from $1,000 to $1,600 to help parents with the cost of raising children, and providing a credit of $300 for each parent and non-child dependent to help all families with their everyday expenses.

Preserving the Child and Dependent Care Tax Credit
to help families care for their children and older dependents such as a disabled grandparent who may need additional support.

Reduces the tax rate on the hard-earned business income of Main Street job creators
to no more than 25% – the lowest tax rate on small business income since World War II.

Lowers the corporate tax rate to 20%
– down from 35%, which today is the highest in the industrialized world – the largest reduction in the U.S. corporate tax rate in our nation’s history.

SIMPLE, FAIR “POSTCARD” FILING
 
pnewton said:
I am not going to answer a stupid question. Anyone with an ounce or reason can understand the difference in teaching the preferential option for the poor and setting a precise amount the minimum wage should be at any time.
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Had you thought for a moment about the question you might have understood why I asked it. You asserted that the bishops speak for the church when they make specific policy proposals; I have said they do not. Citing the “preferential option for the poor” tells us nothing at all about which concrete policies actually are beneficial. Assuming that raising the minimum wage is inherently the right thing to do simply begs the real economic question involved, a question the bishops have no more expertise in answering than anyone else, and it is a question for which the church provides no guidance whatever.
For any individual, the minimum wage should be where they would want it to be if they were the one working to support kids on minimum wage. It’s the Golden Rule thing. Now, is the next question going to be what Jesus thought the minimum wage should be when he proposed this basic rule for charity?
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So your “economic” solution is to let the worker set the wage his employer should pay him? I’ll go out on a limb here and guess you’ve never run a small business.
 
Job creation is the economic engine we need.

Most small corporations will benefit from the lower rates and invest, hire and buy instead of struggling with cash flow and borrowing to pay their tax bill.

The 4.1% only accounts for job seekers. We have 95 million or so not participating in the workforce.

Corporations should not even be taxed at all in my opinion. They are paper entities and amount to double taxation on the owners.

SImplification of the tax code is what everyone wants, right?
 
It should be simple and easy. 95% of filers will be able to use it. That is a good thing.
 
This makes a difference, how?

I think he will still hve to use the long form. In addition he will still be taxed at the top rate as before.
 
Right. Its as simple as taking out a second or third mortgage on our already high debt. It would take one heck of job creation to pay the interest on that. Better hope we don’t have a repeat of 1987 or 2998.after loaded promises of job growth and prosperity.
 
If the government confiscated all the rich own how long would it run the government?
 
Only 600 pages? Boy that is simplified.Will put HR Block out of business.
 
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Sooner or later the appetite for government spending has to be dealt with. Clinton reduced it by taxing us more. That is easy but has long term effects.
 
And I will continue to file multiple forms for reporting capital gains and losses. So what’s your point?
 
We have experienced a middle class job loss. We should be for anything that will help that and allow people to climb out of poverty.
 
[Well, unfortunately, that will be the excuse. Now that we have given all the money to the 1%]

How?

You advocate government benefit programs to keep small grocers in business? Oh my! That is pretty close to communism.
 
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