Thoughts on the new tax bill for the US?

Discussion in 'General Off-Topic Chat' started by ThisIsDaAccount, Dec 3, 2017.

  1. ThisIsDaAccount
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    ThisIsDaAccount GBAtemp Advanced Fan

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    Congress just passed a new tax bill. I don't really know much about it, I haven't really been following it's development. What do you guys think about it?
     
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  2. Soulsilve2010

    Soulsilve2010 GBAtemp Fan

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    Its pretty bad,you shold go look for the pics.Alot of scribbling in the margins like children.I don't know whats worse:The massive debt this'll add,the blow to low and middle classes(no bad effects for the upper crust obviously),they gave people only few hours to read 500 pages of BS or the fact it was intentionally voted on late in the night.

    Edit: Oh and maybe the worse is it allows drilling for oil in a F***ing wildlife sanctury because money :angry:
     
    Last edited by Soulsilve2010, Dec 3, 2017
  3. stanleyopar2000

    stanleyopar2000 The Official GBATEMP Thread Killer. No Mercy.

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    We're utterly fucked. Can't wait for a new 2026 Depression with a side dish of Oligarchy this time
     
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  4. the_randomizer

    the_randomizer The Temp's official fox whisperer

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    Sounds a lot when Obamacare was shoved in our faces. No one read what it really said, and cost the economy nearly one trillion dollars. That's working out well, I must say. Not the first time a bill's been passed half-assed. Proof governments don't give a rat's ass about the people.
     
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  5. lordkaos

    lordkaos GBAtemp Fan

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    don't forget the permanent tax cuts for corporations but only temporal tax cuts for everyone else.
     
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  6. SG854

    SG854 GBAtemp Advanced Fan

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    Im so tired of politics. I stopped following any news about it this past year.
    Finding any useful information is hard enough as is. And shifting through conspiracy theories and lies to find whats true.
     
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  7. gman666

    gman666 Cubicle Expert

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    If you haven't invested your money.... Now is an excellent time! Corporate taxes will drop from 35 to 25% and who knows whether Trump will push for a tax holiday for repatriation of foreign profits.
     
  8. Jayro

    Jayro MediCat USB and Mini Windows 10 Developer

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    For anyone making under $75,000 a year, it's bad. (Which is 90% or more of Americans)

    The rich are destroying the middle class. This new tax bill is a disaster.
     
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  9. Ritsuki

    Ritsuki ORAORAORAORA

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    Problem with every major bills in the USA is that nobody listen to nobody. How the hell do they think that they will manage to do something when they're just acting like spoiled brats? Consequence : people pay for their mistakes and instead of looking into what they did wrong, the other side just use those failures to bring more people to their side without actually fixing the initial problem. Don't get me wrong though, it's the same in a lot of countries.
     
  10. TotalInsanity4

    TotalInsanity4 GBAtemp Supreme Overlord

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    It's gonna be Reagan economics 2.0

    If anyone had a competent high school US history class they'd know that's a fucking awful idea
     
  11. ThisIsDaAccount
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    ThisIsDaAccount GBAtemp Advanced Fan

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    I've taken several US history classes in high/middle school, literally none of them went past President Ford at the most because we ended up taking too much time.

    End result: I Don't know anything about modern policy from before 2015 because that's when I started following the news and stuff. I imagine a lot of young people like me also don't know anything about reagan's economics besides the general "tax cuts for the top brackets" stuff. I think we really should have classes that go over recent history as well.

    The only thing I've heard about the current tax bill is that it counts university tuition waivers as part of your income, but that doesn't include scholarships? It seems like a bad thing but I don't know who exactly is affected by that.
     
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  12. smile72

    smile72 NewsBot

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    To be fair....it's NOT like Obamacare in that Democrats desperately tried to court Republicans for it to look bipartisan. That's why it took FOREVER to pass...they didn't pass it until Obama's second year...in fact it almost died when Ted Kennedy did. Republicans just didn't give a fuck. They are glad that they can get their tax breaks. And again it didn't succeed due to a number of reasons such as many Republican governors not wanting to take the Medicaid subsidies which were fucking important to the bill. This bill wasn't bad! Was it useless? In hind sight YES! Because they tried to make it bipartisan and it failed because the Republicans wanted to (obviously) replace Obama in the White House to pass "important" legislation such as these bullshit tax cuts. There were MUCH more liberal ideas during the 2008 debates between Obama and Clinton. AND one of the biggest reasons it failed: I used to live in a wonderful place called DuPage county...very wealthy, upper-middle class area of Chicagoland. Obamacare is doing wonderfully there.Prices are going down. WHY? IT'S COMPETITIVE. Economics 101. However where is it failing....in areas where my family live now like Southern Illinois. WHY? Simple...no one lives there. So it had at best 2 to 4 insurers and they left when they couldn't sell their garbage versions of insurance anymore...basically insurance that was useless. And now it skyrocketed because Obamacare never accounted for rural hospital monopolies. And I'M SOOOOOO sick of people bitching about Obamacare. And saying it's the worst thing that ever happened...it's really not. Not even close. Is it great. Hell no. But is it bad. Not really no. And I was gonna include a vulgar example but I feel I shouldn't.
     
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  13. jDSX

    jDSX Is a furry

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    Can someone care to explain like I'm 5 what this is about? This looks like a typical tax bill to a independent.
     
  14. TotalInsanity4

    TotalInsanity4 GBAtemp Supreme Overlord

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  15. Taleweaver

    Taleweaver Storywriter

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    From what i gather "If you don't make at least a million dollars per year, you're getting screwed" seems like a proper description. Or even shorter: ""tax breaks for the rich and large companies!!!"
     
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  16. FAST6191

    FAST6191 Techromancer

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    How does it compare to campaign promises?
     
  17. DarthDub

    DarthDub Amateur Hacker

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    The only good thing from this is that the mandatory fine for not having health insurance is gone.
     
  18. FAST6191

    FAST6191 Techromancer

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    Won't that mean fewer people have health insurance?
     
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  19. TotalInsanity4

    TotalInsanity4 GBAtemp Supreme Overlord

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    Yes. It also means insurance will be more expensive
     
  20. Taleweaver

    Taleweaver Storywriter

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    It depends. Of course it's the exact opposite of what he promised to the voters, but if you take even a surface glance of his track record, this was well within what was to be expected. Especially after he filled his administration with millionaires.