Tax Bill (aka Reconciliation Bill) Preview Released Friday

[BabyBoomer50s]

71% of Medicaid recipients work or attend school. Another 12% are caregivers.

You must be proud of the MAGA weasels for delaying Medicaid cuts until after the midterm election. They’re afraid to take responsibility for their own actions. It’s the MAGA way!

Working recipients who satisfy all other Medicaid requirements should not be impacted. I share your objection to the delay on the reforms. Lots of things in the bill I don’t like. Raising the SALT cap, delayed Medicaid reforms, no tax on tips, overtime, SS. I would have preferred a bill that simply extended the current individual income tax provisions.

That said, the majority of us who pay income taxes have reason to be optimistic that we won’t get hit with a tax hike.

 

[Lazaran]

Working recipients who satisfy all other Medicaid requirements should not be impacted. I share your objection to the delay on the reforms. Lots of things in the bill I don’t like. Raising the SALT cap, delayed Medicaid reforms, no tax on tips, overtime, SS. I would have preferred a bill that simply extended the current individual income tax provisions.

That said, the majority of us who pay income taxes have reason to be optimistic that we won’t get hit with a tax hike.

BabyBoobs is trying to distract / divert attention away from the FACT that the bottom lines of the working poor will be NEGATIVELY affected by DonOld’s "OBBB" to the tune of a $700-$1000 annual DECREASE in their household budget - while the rich see a $390,000 INCREASE!!!



And THAT ^ doesn’t even take into consideration the negative impacts of DonOld’s "BBTP" (big beautiful tariff policy), and cuts to social programs, education, ETC, ETC, ETC,…



BabyBoobs



We. Told. Them. So.

 

[ll74]

The Senate will ball at salt deduction increases, so likely will be scrapped.

Overall, the only thing about this bill that I'm on board for are that the tax cuts aren't temporary like last time. I appreciate that Democrats are making Republicans own their bullshit. It shows that no input was considered from the party as well.

 

[73Seahawks]

Once again, Welcome to Fuck Around and FIND OUT!

 

[DeluxAuto]

Working recipients who satisfy all other Medicaid requirements should not be impacted. I share your objection to the delay on the reforms. Lots of things in the bill I don’t like. Raising the SALT cap, delayed Medicaid reforms, no tax on tips, overtime, SS. I would have preferred a bill that simply extended the current individual income tax provisions.

That said, the majority of us who pay income taxes have reason to be optimistic that we won’t get hit with a tax hike.

I dare you to watch this. Sober.

 

[MajorRewrite]

Overall, the only thing about this bill that I'm on board for are that the tax cuts aren't temporary like last time.

Except the newest tax cuts are temporary.

The One Big Beautiful Bill Act, which passed narrowly with 215-214 votes, is centered on permanently extending tax cuts enacted during Trump’s first term, while also creating new deductions to make good on his campaign promise of providing relief to the working class and families.

But there’s a catch: those deductions would be available only through 2028, meaning that when Trump finishes his term in January 2029, his tax relief will have expired.

 

[ll74]

Except the newest tax cuts are temporary.

Fuck. I didn't see that.

Thanks for the heads up.

 

[heathrowinneo]

Working recipients who satisfy all other Medicaid requirements should not be impacted. I share your objection to the delay on the reforms. Lots of things in the bill I don’t like. Raising the SALT cap, delayed Medicaid reforms, no tax on tips, overtime, SS. I would have preferred a bill that simply extended the current individual income tax provisions.

That said, the majority of us who pay income taxes have reason to be optimistic that we won’t get hit with a tax hike.

dream on with you won't get hot with a tax hike. it will be in the form of tariffs, user fees and rising fees for services either at the federal, state or local level.

 

[heathrowinneo]

BabyBoobs is trying to distract / divert attention away from the FACT that the bottom lines of the working poor will be NEGATIVELY affected by DonOld’s "OBBB" to the tune of a $700-$1000 annual DECREASE in their household budget - while the rich see a $390,000 INCREASE!!!



And THAT ^ doesn’t even take into consideration the negative impacts of DonOld’s "BBTP" (big beautiful tariff policy), and cuts to social programs, education, ETC, ETC, ETC,…



BabyBoobs



We. Told. Them. So.

listening to rightguide or babyboom is having fox newsmax running in the background while reading breitbart or the gateway pundit because we know how factual and objective those news sources are. bahahahahaha

 

[BabyBoomer50s]

I dare you to watch this. Sober.

I dare you to tell me who paid for it, who produced it,

dream on with you won't get hot with a tax hike. it will be in the form of tariffs, user fees and rising fees for services either at the federal, state or local level.

Tariffs are a form of taxation and I generally oppose them except in very limited cases. This thread is about income tax provisions in the reconciliation bill. If current individual income tax rates and other provisions expire, most of us will see a large tax increase.

 

[DeluxAuto]

I dare you to tell me who paid for it, who produced it,

Facts don't care about those things. Sober up.

 

[BabyBoomer50s]

Facts don't care about those things. Sober up.

 

[DeluxAuto]

This is one of your better replies.

 

[ll74]

So let me get this straight-
Adding $3+ trillion to the debt over ten years and tax cuts that will reach another "crisis" in four years.

?

Lol

Not even mentioning kicking the poorest people off of welfare because Doge cut the paperwork workforce that might send a lifeline to them

What a shit show

 

[heathrowinneo]

I dare you to tell me who paid for it, who produced it,

Tariffs are a form of taxation and I generally oppose them except in very limited cases. This thread is about income tax provisions in the reconciliation bill. If current individual income tax rates and other provisions expire, most of us will see a large tax increase.

The amount of tariffs that will be paid fluctuates like the wind. Today the EU is facing a 50% tariff on 1 june. The reciprocal tariffs, whatever they may be, will hurt US exports. We are going to pay for this mess.

As for taxes and the average American, be ready to pay more at each level of federal, state and local. Inflation will rise and diminish consumer purchasing power. All for tariffs. JFC.

 

[BabyBoomer50s]

The amount of tariffs that will be paid fluctuates like the wind. Today the EU is facing a 50% tariff on 1 june. The reciprocal tariffs, whatever they may be, will hurt US exports. We are going to pay for this mess.

As for taxes and the average American, be ready to pay more at each level of federal, state and local. Inflation will rise and diminish consumer purchasing power. All for tariffs. JFC.

All the more reason to pass the reconciliation bill. The last thing we need is a $4.5 trillion income tax hike.

 

[heathrowinneo]

All the more reason to pass the reconciliation bill. The last thing we need is a $4.5 trillion income tax hike.

Not sure about the cost of the bill. $3.3 trillion over a decade added to the national debt isn't a bargain.

 

[ll74]

All the more reason to pass the reconciliation bill. The last thing we need is a $4.5 trillion income tax hike.

Instead we get a $4.5 trillion debt hike!

 

[Lazaran]

All the more reason to pass the reconciliation bill. The last thing we need is a $4.5 trillion income tax hike.

BabyBoobs pretends (LIES / GASLIGHTS) that DonOld & the MAGAt republicans’ "OBBB" aka “Tax Cut For The Wealthy & Corporations part Deux” bill is the ONLY option for a budget bill.



BabyBoobs is a total POS.



We. Told. Them. So.

 

[heathrowinneo]

This is one terrible, awful, miserable bill. It takes away so much from the American public, benefits the 1%, destroys institutions to benefit the American public, adds a shit load to the national debt, and expires in 4 years. Talk about kicking the can down the road and leaving a fucking mess for everyone.

Ever feel like you're riding on the titanic and you see those big, beautiful glaciers poking out of the ocean. Yeah, kinda like that.

 

[BabyBoomer50s]

Instead we get a $4.5 trillion debt hike!

Tax receipts have continued to average around 17% of GDP, before, during and after the Reagan, Bush, and Trump (2017) tax reforms. The US has a spending problem.

I agree with critics of this bill who rightly complain that this bill doesn’t go anywhere near far enough in addressing that. I agree with critics who object to the new tax breaks for affluent people who get a quadrupling of their SALT deduction. And I agree with critics who object to the new provisions that call for no tax on tips, overtime and social security. I hope the Senate scales back some of those things and finds more areas to reduce spending increases.

Now that you’ve found deficit and debt religion, you can be thankful that Biden’s student loan forgiveness program and other EOs are being unwound and that Congress is clawing back spending provisions that were in the American Rescue Plan and Inflation Reduction Act.

 

[BabyBoomer50s]

BabyBoobs pretends (LIES / GASLIGHTS) that DonOld & the MAGAt republicans’ "OBBB" aka “Tax Cut For The Wealthy & Corporations part Deux” bill is the ONLY option for a budget bill.



BabyBoobs is a total POS.



We. Told. Them. So.

The bill extends existing individual income tax rates.

It also bribes voters with children, voters who work overtime, voters who collect social security, and affluent voters in blue states. I don’t like those provisions and perhaps you don’t either.

The bill doesn’t change corporate tax rates. Are there new corporate tax provisions in the bill that you object to?

 

[Lazaran]

The bill extends existing individual income tax rates.

It also bribes voters with children, voters who work overtime, voters who collect social security, and affluent voters in blue states. I don’t like those provisions and perhaps you don’t either.

The bill doesn’t change corporate tax rates. Are there new corporate tax provisions in the bill that you object to?

BabyBoobs is a POS that KNOWS the corporate tax rate should be raised, as well as the the tax rate for wealthy individuals.

The cap on social security contributions should be raised, or eliminated altogether.



The crumbs that are offered to the working poor, families, and seniors (maintaining their current tax rates, the new child tax credit, no tax on tips, overtime, Social Security) would / will be eaten up (and then some) by cuts to existing social programs that benefit the working poor and families.



FIFTY YEARS of tax cuts for the wealthy and corporations (as well as tax loopholes and corporate subsidies) needs to be corrected by FIFTY YEARS (or a few highly corrective years / a onetime charge) of clawbacks from those corrupt, greedy, un-American sociopaths.



We. Told. Them. So.

 

[Typo Fu Master]

And I agree with critics who object to the new provisions that call for no tax on tips, overtime and social security. I hope the Senate scales back some of those things and finds more areas to reduce spending increases.

I want to believe this is a good thing. Why is it a bad thing? The first people I think of who get tips are waitpersons. I myself get OT every week. I have paid into SS my entire working life. It sounds like it would make it easier on John Q. Taxpayer.

 

[BabyBoomer50s]

BabyBoobs is a POS that KNOWS the corporate tax rate should be raised, as well as the the tax rate for wealthy individuals.

The cap on social security contributions should be raised, or eliminated altogether.



The crumbs that are offered to the working poor, families, and seniors (maintaining their current tax rates, the new child tax credit, no tax on tips, overtime, Social Security) would / will be eaten up (and then some) by cuts to existing social programs that benefit the working poor and families.



FIFTY YEARS of tax cuts for the wealthy and corporations (as well as tax loopholes and corporate subsidies) needs to be corrected by FIFTY YEARS (or a few highly corrective years / a onetime charge) of clawbacks from those corrupt, greedy, un-American sociopaths.



We. Told. Them. So.

Whoever was running the White House during the Biden years signed off on trillions in new spending, but at least they were wise enough to not attempt raising the corporate tax rate.

Social security is facing insolvency in about 6 years. Raising the amount of income subject to SS taxes is likely to be part of the solution. Neither party wants to administer the medicine needed to shore it up but whoever wins in 28 will have to deal with it.