The 2017 General Political discussion thread, Part 2!

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    actaeon277

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    If there wasn't 401k, I'd be forced to save less due to being taxed on the income before it goes into mutual funds or other savings. If they take this away, it will push out my retirement and make me work longer.

    If they do this, I'm voting all Democrat next cycle. Cutting 401k caps is a horrible thing to propose, and I will vote against any party that moves forward on it.

    Then you might not want to vote Democrat.
    They've been proposing various ways to tax 401ks for years.
    IRAs, 401(k)s and You - FactCheck.org
    Democrats Propose Taxing Your 401(k) - Fox Nation
    http://www.investmentnews.com/artic...crats-contemplate-abolishing-401-k-tax-breaks
     

    seedubs1

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    Disproportionately affects those with lower income that must spend most of their income to survive. They would be taxed on almost 100% of their total worth, while the rich can save most of their money and be taxed at a relatively extremely low rate.

    Income tax is feudalism. Get rid of it and all forms of property tax. Fund the government with consumption taxes. They only affect people in proportion to what they spend.
     

    hoosierdoc

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    Disproportionately affects those with lower income that must spend most of their income to survive. They would be taxed on almost 100% of their total worth, while the rich can save most of their money and be taxed at a relatively extremely low rate.

    Not true at all. The proposal calls for a prebate sent every month for typical poverty level taxes paid. This sales tax would only be on new items such as cars, clothes, etc. if you buy used, you save 23%.

    it's estimated every product sold has 20-25% federal tax imbedded in the cost when it hits the shelves. When you remove the tax the cost of goods will drop 20-25% and then a 23% tax is added back to new items. So you take a low income person, let them keep 100% of their check except state and local taxes, give them a prebate for taxes spent on food and necessities, and lower the cost of used items 20-25%.

    It would be a HUGE boon to the Lower income folks. It makes taxes voluntary.
     

    hoosierdoc

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    And they want to tax existing wealth. And add "imputed income". Meaning your home is paid for but you don't rent it out, but you could, so you pay taxes on the income you would get if you rented it. That was a Hillary gem

    https://mobile.nytimes.com/blogs/ec...omeowners-as-if-they-were-landlords/?referer=
     

    Alpo

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    It is a regressive tax, by definition. Saying that it is not, does not make it change to some other form of taxation.

    Ultimately, regressive taxation results in redistribution of wealth. It just happens to be the one you prefer.
     

    hoosierdoc

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    It is a regressive tax, by definition. Saying that it is not, does not make it change to some other form of taxation.

    Ultimately, regressive taxation results in redistribution of wealth. It just happens to be the one you prefer.


    Define "it"

    sales tax tax is the ONLY tax proposal that completely eliminates federal taxation on poverty level income. They don't even pay SS/Medicare. And then if they buy used items those are 23% cheaper than they were before and they keep 100% of their paycheck. Please be factual.

    read the FairTax book
     

    indiucky

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    You do get the difference between potential collusion and opposition research? Especially research initially commissioned by someone in the same party.

    Do tell please....

    brace-yourselves-political-spin-is-coming.jpg
     

    printcraft

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    You do get the difference between potential collusion and opposition research? Especially research initially commissioned by someone in the same party.


    Mccain and jeb! ?

    Also, this is what obama based his wiretaps (sorry accidental wiretaps) off of.
     

    Dddrees

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    Mccain and jeb! ?

    Also, this is what obama based his wiretaps (sorry accidental wiretaps) off of.

    Hey, Trump just said the sky is really brown and there was a conspiracy when they named colors because his face is really green and not orange. Just asking, but do you believe that cr** too?
     

    printcraft

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    Hey, Trump just said the sky is really brown and there was a conspiracy when they named colors because his face is really green and not orange. Just asking, but do you believe that cr** too?

    You do know that surveillance of associates was ordered right?
     
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