syn:tax

With Trump’s health care plan dead, he’s moving on to taxes. That’s going to fail, too.

  • As Republicans watch their Affordable Care Act replacement effort fall apart, the White House is already working hard to change the narrative and make sure everyone knows the thing the president really wants to do is tax reform.
  • There’s just one problem with that plan: Republicans are as divided about their tax plan as they were about their health care bill. 
  • Even House Speaker Paul Ryan seemed to concede this was the case in his remarks on the demise of the GOP health bill. “We are going to proceed with tax reform,” said Ryan, “but this is going to make it more difficult.” Read more.

BREAKING: White House has released these key points of the Trump tax plan.

Analysis from Ali Velshi: Pres. Trump proposes 15% business tax, INCLUDING pass-through companies, & one-time tax on repatriation of offshore money; 3 personal tax rates: 35%, 25% & 10%, eliminating ALL personal deductions other than mortgage int/charitable; eliminating Alternative Minimum Tax & Estate Tax; moving America to a “territorial” business income tax system; tax reform contains NO offsets to reduced revenue; depends ENTIRELY on stimulating economic growth. 

I will be paying the same in tax next year as I did this year. (Actually, I’ll be paying a little less because the personal allowance has gone up). A counterpart in England will be paying about £400 less than me. However that’s not the whole story.

Council tax in England has been allowed to rise so I’d be paying a lot more in council tax. It is estimated that would be about £300 more if council tax had not been frozen in Scotland.

So far that means I’m paying a net increase of £100 over my counterpart in England.

Now, we get a lot of benefits of being governed by a progressive government like the SNP. And one of those benefits is prescription fees, or lack thereof. I would be paying £116.40 for my prescriptions in England.

So for me, I am instantly £16.40 better off than my counterpart in England.

So I gladly pay the extra tax as a higher rate payer.

Even if I wasn’t better off, I recognise the benefits of living in a well educated country (who wants to live with idiots, eh?), and in a country that looks after the health of it citizens because what company wants employees that are sick all the time. We ensure our young have a good start in life, and our elderly are not cast aside.

So, even although my income tax next year will be the same as this year (or £400 more than in England, if you really must compare it). I’m happy to pay it. I get to live in a place that cares about the folks living there.

youtube

The IRS warns the Deaf and hard of hearing community about an increasing number of tax scammers that use the Video Relay Services (VRS).

nytimes.com
G.O.P. Repeal Bill Would Cut Funding for Poor and Taxes on Rich
The new plan would decrease the dollars to states that cover poor adults through their Medicaid program.
By Margot Sanger-Katz

  Woah! Didn’t see that coming! The GOP cutting taxes on the rich…again?! What a surprise! :-/

My activist side is about to flare up to take on this Philadelphia sugary drinks tax. Mayor Kenney went too far, this tax may have doubled expected income last month for this project, but it is killing the poor, working class people of Philly. This tax hurts the poverty stricken areas of the city most, and now people are being laid off as companies struggle to cope with the change. It is time to ditch this tax and come up with a better plan. Maybe the city should rethink paying $90,000,000 for a waterfront park for the rich people downtown, and instead use that money to fund his Pre-K program. North Philly needs to rise up, why are our tax dollars funding these expensive ass projects downtown while the talking suits forget our neighbourhoods?