Big Beautiful Bill

[Anonymous]

There is a tax increase for EV owners. NO more tax credit for the purchase, starting in September. No tax credit for buying a used EV.
No tax credit for installing solar power or a charger.

[Anonymous]

Private jets are now fully tax deductible in the first year of purchase. Pffft.

[Anonymous]

https://www.wsj.com/opinion/no-one-is-gutting-the-safety-net-e3029eb4

[Anonymous]

Anonymous wrote:https://www.wsj.com/opinion/no-one-is-gutting-the-safety-net-e3029eb4

That link has a paywall

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.wsj.com/opinion/no-one-is-gutting-the-safety-net-e3029eb4

That link has a paywall

It’s an opinion piece anyway. No reason to read it.

[Anonymous]

Defunded Planned Parenthood, but a federal judge has issued a temporary restraining order against the defunding.
Apparently federal funding is not a power of Congress, but instead belongs to federal judges.

[Anonymous]

Anonymous wrote:https://www.wsj.com/opinion/no-one-is-gutting-the-safety-net-e3029eb4

From that op/ed

"The GOP bill would expand the current work requirement to cover more able-bodied adults, including some parents with older children in school and those in their 50s and early 60s."


Parenting teens is one of the most critical periods in a child's life. Unsupervised teens can get in a lot of trouble and if a family is already economically stressed enough that a parent is on public assistance of some sort, I guarantee you crime will increase.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Poor and middle class spend their money when they have it. Their needs and wants lists are long. They pay taxes on it when it’s earned, and again on the things they buy.

Rich people hoard it, hide it in tax havens, yachts, loophole purchases, and even foreign countries. Or just as bad, they use it to hoard real estate which drives up the cost of housing. And worst of all, when they get ultra rich, they buy politicians and elections which negatively affect us all.

Have you ever heard of real estate taxes? I have not seen any exemption for expensive homes.

Right. That would be the State or Local level beyond mortgage deduction, which given the real estate market should be done away with for those earning $100k a year or more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.wsj.com/opinion/no-one-is-gutting-the-safety-net-e3029eb4

From that op/ed

"The GOP bill would expand the current work requirement to cover more able-bodied adults, including some parents with older children in school and those in their 50s and early 60s."


Parenting teens is one of the most critical periods in a child's life. Unsupervised teens can get in a lot of trouble and if a family is already economically stressed enough that a parent is on public assistance of some sort, I guarantee you crime will increase.

I agree that crime is going to increase, but I cynically think Republicans like that. More money for the prison industry, more people voting for a police state and more bad guys for them to assail. It works well for the Republicans.

[Anonymous]

Anonymous wrote:Defunded Planned Parenthood, but a federal judge has issued a temporary restraining order against the defunding.
Apparently federal funding is not a power of Congress, but instead belongs to federal judges.

Total insanity by this judge. This was an act of Congress. Does she believe Planned Parenthood has a Constitutional right to government funding????

[Anonymous]

Anonymous wrote:

Anonymous wrote:Defunded Planned Parenthood, but a federal judge has issued a temporary restraining order against the defunding.
Apparently federal funding is not a power of Congress, but instead belongs to federal judges.

Total insanity by this judge. This was an act of Congress. Does she believe Planned Parenthood has a Constitutional right to government funding????

The case may have merit. The BBB is targeting women's health services. Not abortion, which already receives no federal funds, but making sure that patients who use Medicaid as their insurance to get birth control, cancer screenings, and STI (sexually transmitted infection) testing and treatment can continue to do so at their local Planned Parenthood health center. By singling out women only, it may be unconstitutional.

That's the argument and the judge has issued a temporary stay while the sides prepare arguments.

[Anonymous]

This is how to process works. Congress writers laws, lawsuits are filed, and courts interpret the laws to fix problems with the laws or strike them when they are unconstitutional or otherwise problematic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Defunded Planned Parenthood, but a federal judge has issued a temporary restraining order against the defunding.
Apparently federal funding is not a power of Congress, but instead belongs to federal judges.

Total insanity by this judge. This was an act of Congress. Does she believe Planned Parenthood has a Constitutional right to government funding????

Wait, congress now controls funding? MAGA has been telling us the executive can do whatever it wants. Which is it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Poor and middle class spend their money when they have it. Their needs and wants lists are long. They pay taxes on it when it’s earned, and again on the things they buy.

Rich people hoard it, hide it in tax havens, yachts, loophole purchases, and even foreign countries. Or just as bad, they use it to hoard real estate which drives up the cost of housing. And worst of all, when they get ultra rich, they buy politicians and elections which negatively affect us all.

Have you ever heard of real estate taxes? I have not seen any exemption for expensive homes.

DP. You don’t know what you’re talking about. PP said they’re hoarding real estate. The rich use the strategy buy, borrow, die. They’re leveraged in tax loopholes wrt real estate.

Please describe these loopholes which allow owners of expensive homes to avoid real estate taxes?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Poor and middle class spend their money when they have it. Their needs and wants lists are long. They pay taxes on it when it’s earned, and again on the things they buy.

Rich people hoard it, hide it in tax havens, yachts, loophole purchases, and even foreign countries. Or just as bad, they use it to hoard real estate which drives up the cost of housing. And worst of all, when they get ultra rich, they buy politicians and elections which negatively affect us all.

Have you ever heard of real estate taxes? I have not seen any exemption for expensive homes.

Uh, have you heard of SALT deductions and the mortgage interest deduction? Those are not tax benefits for the lower or middle classes.

You're deducting local taxes on your federal taxes, but still are paying local taxes. Your real estate is not miraculously tax-free
This. We own two properties - one we live in and one we rent out. We can already deduct the property tax on the rental against the rent we receive. Now we will once again be deducting the property tax on our residence. And our mortgage interest. And our state income tax. And our charitable contributions. Families like us were not the ones who were most in need of a tax cut - but here we are.

You're deducting local taxes on your federal taxes, but still are paying local taxes. Your real estate is not miraculously tax-free; you're just not paying as much federal tax as you otherwise would. You can always lobby for repeal of the SALT exemption if you'[d prefer to pay more federal tax.