Why is no on talking about the standard deduction???

I'm seriously baffled by this. It seems intentionally misleading at this point to not mention the standard deduction when talking about the proposed tax plan. Basic math shows that it's impossible for the new plan to increase taxation on people earning lower incomes. For example:

If someone makes $15,000/year, right now they would take the current standard deduction of $6500 and be taxed 10% on the remaining $8500 and pay $850.

Under the new plan, they would take the standard deduction of $12,000 and pay 12% on the remaining $3000, which is $360.

How the fuck is this so hard for people to understand???? Am I missing something or are people really this fucking dumb?

>are people really this fucking dumb
Humanity continues to surprise me daily.

It's really sad isn't it? One would think, with the ease of access to advanced technology and information, people would actually get smarter...

Seriously what the fuck Sup Forums? No one wants to talk about a real political issue? Something that probably affects most of you?

trump wants to kill all muslims, fuck taxes

It can't be a coincidence that every thread about this gets zero attention

What the fuck are you on about? What is standard deduction?

Are you seriously telling me that out of 15 000 dollars, 12 000 (80%) is taken by the government, and then an additional 360 dollars cumulating in 82.4%?
Thats fucking insane, why work at all if you are only paid 1/5th of your time? Fuck me, with welfare that means that if the non-working population is smaller than the working population, they could earn more money than the working population. What the fuck

No, dumbshit. The standard deduction is an amount of income that an individual cannot be taxed on. Right now it's $6500 which is fucking ridiculous. I guess no one even understands what it even is, so that's why it's getting ignored.

That's because the politicians don't want you to judge the plan on its merits but rather want you fight and be distracted and hate Trump.

I mean that seems obvious enough but are people generally too fucking ignorant to actually understand that basic math? All they see is a bracket going up by two percent and they fucking throw a tantrum?

From what I've seen in the US news, which rarely frames the overall impact of the plan, they prefer to focus on details like the reduced possibility for deductions (esp. state tax) or some other detail that affects some minority or other. The projected impact on deficit, for instance.

There's not much in terms of presenting in clear terms what is likely to actually happen to people in different income classes. Or what really would be the consequences to the corporate tax, and why part of the key to the plan is an expected net benefit to economic activity by reducing the costs of doing business and inviting more corporations to operate out of the US.

So even if we look at your example, which is of clear benefit to a poorfag, it manages to get lost in a sea of details and each interest group complaining about their detail of choice.

Then why the fuck would you call it *deduction*?? Typical economists who can't understand even basic mathematics.
Deduction is subtraction, loss, removal. If you are NOT losing that money, it should NOT be called Deduction. Holy fuck the small brains on these economists.

Regardless, if 80% of your income cannot be taxed, then that is just the same as saying you can be taxed up to 20% at maximum, i.e. tax *deductible*. What the fuck is the point of confusing the language

That's just what its called. Anybody who's done his own taxes before knows what it is. A lot of people just pay a Jew or a computer Jew to do it for them though.

Sounds more like Jews are trying to obfuscate the meaning of simple arithmetic operations to ensure their safety in the workforce by denying common Joe a chance to do his own fucking taxes. Outrageous garbage

Possibly. I'd rather blame the stereotypically poor level of education in the US, particularly when it comes to financial literacy.

Fuck you Schnitzelnigger, I want to go hate on fat people and make jokes about Muslims.

Its not fucking hard to multiply your income with a number smaller than one and then giving it to the government. Fuck even the dumbest redneck farmer knows how to use a calculator.

It's not that simple. Even doing a 1040EZ, which is like as simplified as it gets, you still have to have your hand held through filling in like 40 boxes and following the instructions. And believe me some people struggle with that and won't come out understanding how they got from their income to how much they pay or get back.

Yes but that is obviously because of jews making those forms.

At the end of the day, whatever you are deducted is equal to some percentage of your income. This horrible system needs a massive cleanup and substantial firing of kikes.

For Joe Blow who just has a job at Target and no education, car, home, investments, whatever else to worry about, yes. It could be done on an index card as some politicians like to suggest.

But adults, small business owners, etc. it gets a lot more complicated fast. I'm pro-simplification because it's just riddled with loopholes now. But that's a tough debate to have in a way that the MSM could simplify enough for their zombie audiences.

>Deduction is subtraction, loss, removal.

>taxable income = 15,000
>to work out how much of that income you will be taxed on, 12,000 will be deducted (subtracted, removed) prior to the final calculation
>taxable income = (15,000 - 12,000) = 3000

just shut up

It's a deduction from your taxable income, i.e. agi
Either you've never paid taxes, you aren't american, or you're trolling
My money's on the third option

as long as MSM spoonfeeds the message of "taxes are going up" the mass majority will keep swallowing the drivel.

The point of doubling the standard deduction is to eliminate itemized deductions, aside from property tax up to 10k.
They're also talking about removing salt, state and local taxes, from being deductable.
If they get those two things, then 90% of america will just fill out their identity, how much income they had, how much taxes they paid, then subtract the standard and property tax, and put down how much they get back.
Done.
15 mins, postcard.

>AGI
I remember the first time I did my taxes I had to stop and look up like 50 different things I'd never heard up, try to figure out if I needed to attach extra schedules, if I should take this deduction instead of that one, if I'm eligible for this other thing.

The modern e-filing system is a big improvment for Averege Joe, but if I as a fancy STEM guy think it's a bit daunting at first then that should tell you smoething.

Yeah. And I haven't looked at the numbers enough to see what that means in terms of effective taxes by income bracket so I can't argue about that, but the in principle that sounds like a good simplification.

>MSM screams about taxes supposedly going up because of trumps tax plan
>MSM pushes every candidate that will absolutely raise taxes
We lived in a retarded time brother

They know. They are ignoring it with the intent to deceive.

Essentially doubling the standard deduction will mean other deductions have to be eliminated. Such as home mortgage interest and state income tax, which mainly benefit a privileged class of champagne socialists.

So being the greedy fucks they are, they will whit their poverty pets into a frenzy to fight against something that can only benefit them.

sorry but you're being a complete retard.

Just listen to the average fucking "american" on C-SPAN. 9/10 fucking callers for the democrats are nogs. I listened to it earlier and a woman ACTUALLY SAID

>"how u gon take mor from da poor? The wealthy got dey millioms and trillions and your gonna try to take 6 dollars from the poor lady who makes 20 dollars a month with 3 kids? WHAT U EXPECT TO HAPPEN????"

How can you be SO FUCKING STUPID to actually think that a woman making 240 dollars a year pays any taxes at all. This "hypothetical woman" who probably does accurately represent a majority of fucking welfare niggers costs the taxpayers upto $2,500 per noglet in refundable child tax credits ALONE. Lets not take into account fucking welfare, foodstamp, WIC, subsidized housing, etc, etc.

WHAT THEY DONT WANNA SAY, IS THAT UNLESS YOU ARE ATLEAST THE TOP 20% EARNER YOU ARE A FUCKING LEECH.

These people vote. These fucking morons that cant even apply simple percentages to the money they make get a say in this countries future.

Did the hosts manage to calmly explain it or are they just fielding comments?

The hosts usually dont waste their time on people like that, the ones just ranting with so real substance. You could be there for hours trying to explain how refundable tax credits work and actual tax rates apply, they will never believe you. Everyone on both sides is so indoctrinated by the media and their party. All it would take is a little research on the part of the individual but they wont do it because of sheer laziness.

I was tempted to call in and just put out there, as much as everyone cares about taxes, for the average working american taxes are not some sort of make or break fucking thing in their budget. For business owners it can be however I agree on that point, when you factor in payroll taxes and the other headaches. Most people could AND DO pay 0 dollars in taxes and they are still fucking poor. Why is that?

BECAUSE YOU ARE FINANCIALLY RETARDED
You dont have a problem of the BIG BAD GOVERNMENT TAKING ALL YOUR MONEY, you have a fucking problem of being so stupid that you cant figure out how to budget yourself. Lifestyle creep is a thing at all income levels and even people making 100k+ can be living paycheck to paycheck? AMERICANS HAVE A SPENDING PROBLEM NOT AN EARNING PROBLEM

The news is intentionally lying about it, as usual. Can't let the people think DRUMPF is doing anything nice for them.

They are removing tax breaks for homeowners. That’s huge.

Oh no holy shit someone that mortgaged a quarter million dollar house and wants another one to vacation in will have to PAY MORE TAXES. Tell me again why this is an issue?

Finally a decent discussion about this.

You actually don't have to file taxes in the united states if you make less than $10,000 per year.

Just FYI.

Point me to something that definitively states that and it'll make my day

250k is minimum for most houses these days. I’m talking about tiny houses. So this is not luxury housing by any means. Removing the mortgage reduction while people are still struggling to keep thier homes from the Jewish fuck of 2008 is just cruel.

It's 100% right there in the fine print on the back of a W2. The only reason to file if you've made under $10,000 is if you had taxes taken out before receiving your paycheck and you want a return.

I am not going to find it for you.

All Americans can confirm, though.

I have no sympathy for people that don't know how to live within their means. If you're spending that much on a house, you're fucking stupid and are just trying to live in or near a major urban area. The raw materials to build a reasonable house shouldn't cost more than $50,000.

I'm American, just traveling. I'm going to assume that doesn't apply to small businesses like LLCs?

I have no idea about business taxes. I'm talking about getting taxed on income from employment.

Also, addendum: If you have Obamacare, you must file taxes regardless (I have no taxable income and thus must file, so I get over $3,000 every year.

Thanks fake socialism.

What's the usual deduction for home owners? Deduct an entire year's worth of mortgage payments? If so that does seem pretty objectionable. We're already moving too much away from private property ownership.

t. rentcuck

It's only an issue if your house is worth more than half a million