Republican Tax Bill - the final Bill

[Anonymous]

Is the $750k cap on mortgage interest just for new mortgages?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

You can fool all of the Trumpniks all of the time.

[Anonymous]

Anonymous wrote:Is the $750k cap on mortgage interest just for new mortgages?

Yes.

[Anonymous]

So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

[Anonymous]

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

The entire bill is unfair to everyone except the super rich.

[Anonymous]

What happened to the individual AMT? I thought it was supposed to be scrapped under the house bill but only the exclusion amounts were changed under the senate bill. Have they reconciled that part?

[Anonymous]

Anonymous wrote:What happened to the individual AMT? I thought it was supposed to be scrapped under the house bill but only the exclusion amounts were changed under the senate bill. Have they reconciled that part?

Scaled back so fewer pay it.

https://www.nytimes.com/interactive/2017/12/08/us/politics/house-senate-tax-bill-comparison.html

[Anonymous]

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

They could allow the second person to deduct income tax up to the amount their spouse deducts. It would be unfair to give someone a greater deduction for property taxes just because they are married.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

They could allow the second person to deduct income tax up to the amount their spouse deducts. It would be unfair to give someone a greater deduction for property taxes just because they are married.

So a couple who owns a house together but DOESN'T get married gets a greater deduction for property and income taxes because they can split them and each deduct up to 10k, for a total SALT of 20k plus, of course, their mortgage interest. It creates a disincentive to marry. Couples who both work are better off not getting married.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

They could allow the second person to deduct income tax up to the amount their spouse deducts. It would be unfair to give someone a greater deduction for property taxes just because they are married.

So a couple who owns a house together but DOESN'T get married gets a greater deduction for property and income taxes because they can split them and each deduct up to 10k, for a total SALT of 20k plus, of course, their mortgage interest. It creates a disincentive to marry. Couples who both work are better off not getting married.

Party of family values at work. They also wanted to do away with the adoption credits.

[Anonymous]

So basically if you are in the 39% bracket (over 400l/yr) you get a break, but if you are in the 150-300 bracket, you get totally hosed.

[Anonymous]

Anonymous wrote:Is the $750k cap on mortgage interest just for new mortgages?

Oh, honey, don't want to pay the bill?

[Anonymous]

Anonymous wrote:So basically if you are in the 39% bracket (over 400l/yr) you get a break, but if you are in the 150-300 bracket, you get totally hosed.

Rs know they are screwed with this demographic. AL showed that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

They could allow the second person to deduct income tax up to the amount their spouse deducts. It would be unfair to give someone a greater deduction for property taxes just because they are married.

So a couple who owns a house together but DOESN'T get married gets a greater deduction for property and income taxes because they can split them and each deduct up to 10k, for a total SALT of 20k plus, of course, their mortgage interest. It creates a disincentive to marry. Couples who both work are better off not getting married.

Brought to you by the family values party. Gotta pay for those private jet deductions somehow.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So the 10k limit on SALT is that per individual or for joint as well? It doesn't seem fair that an individual can deduct up to 10k of SALT but two married people can only jointly deduct up to 10k. How is that fair???

They could allow the second person to deduct income tax up to the amount their spouse deducts. It would be unfair to give someone a greater deduction for property taxes just because they are married.

So a couple who owns a house together but DOESN'T get married gets a greater deduction for property and income taxes because they can split them and each deduct up to 10k, for a total SALT of 20k plus, of course, their mortgage interest. It creates a disincentive to marry. Couples who both work are better off not getting married.

The state should get out of the marriage business and everyone should file separately. Maybe something like this will be the first step.