Tax bill

Credskins - thanks for the link. Your understanding seems correct.

How do you feel about Trump saying:

“I shouldn’t say this,” Trump said, “but we essentially repealed Obamacare.”

“Obamacare has been repealed in this bill. We didn’t want to bring it up,” he said. “I told people specifically, ‘Be quiet with the fake-news media because I don’t want them talking too much about it.’ Because I didn’t know how people would —.” Trump didn’t finish that thought, but he said he could admit what had been done “now that it’s approved.”

Wont the increase in premiums for health insurance be much greater than the temporary 2% reduction in fed taxes that I will enjoy for 7 years?

Credskins - thanks for the link. Your understanding seems correct.

How do you feel about Trump saying:

“I shouldn’t say this,” Trump said, “but we essentially repealed Obamacare.”

“Obamacare has been repealed in this bill. We didn’t want to bring it up,” he said. “I told people specifically, ‘Be quiet with the fake-news media because I don’t want them talking too much about it.’ Because I didn’t know how people would —.” Trump didn’t finish that thought, but he said he could admit what had been done “now that it’s approved.”

Wont the increase in premiums for health insurance be much greater than the temporary 2% reduction in fed taxes that I will enjoy for 7 years?
I'll defer to Schneed because I have hated the Affordable Care Act from the beginning, and it is one of those areas I don't think I think rationally on.

Fact is, in my opinion, both the tax bill, AND the affordable care act would have better served the country if both parties got their heads out of their group asses and worked for America rather than party line interests. I have said it before I would far prefer seeing a bill that gives ground on my causes - repealing the ACA - and had broad bipartisan support, but fact is the Democrats weren't going to work with President Trump, AND the Republicans weren't going to work with Pres Obama. In both cases the politicians put party ahead of the US interests. and it sucks.

But at this point, IF the dems want to preserve healthcare reform, or immigration reform, then work together and find the common ground and shut out both the progressive extremes and people like me, and get the government working again.

Also for the record, words have consequences, and I wish that Trump had Reagan's ability to communicate. Instead, he rarely misses an opportunity to put a foot in a mouth at a moment he should be using to highlight his success.

Everyone knows when you give huge tax cuts to corporations, they reinvest those savings into hiring more workers to boost the economy Matty. Quit being so pessimistic. Whereas if you take money and put it in the hands of the struggling workers, they just sit on it and don't spend it at all.

If you think the point is to spur hiring then you don’t get the issue.

The purpose is to dissuade corporations from routing their revenues and profits through foreign governments so they actually pay US taxes instead of European or Canadian taxes.

It’s a tax revenue generating move.

Credskins - thanks for the link. Your understanding seems correct.

How do you feel about Trump saying:

“I shouldn’t say this,” Trump said, “but we essentially repealed Obamacare.”

“Obamacare has been repealed in this bill. We didn’t want to bring it up,” he said. “I told people specifically, ‘Be quiet with the fake-news media because I don’t want them talking too much about it.’ Because I didn’t know how people would —.” Trump didn’t finish that thought, but he said he could admit what had been done “now that it’s approved.”

Wont the increase in premiums for health insurance be much greater than the temporary 2% reduction in fed taxes that I will enjoy for 7 years?

When he says they effectively repealed ObamaCare, what he’s specifically referencing is the removal of the individual mandate. Before this tax bill passed, everyone had to obtain health insurance or pay a tax penalty. Now with this tax bill there’s no individual mandate. You can go without health insurance and not have to pay any penalty.

So this move effectively defanged the law. The whole point of ObamaCare was to force everyone to sign up, even if they were healthy, and that would help pay for the costs of the sick who signed up quickly.

But let’s be honest, the law had no teeth in the first place. The tax penalties were never set high enough - people just said man healthcare insurance is still more expensive than paying the tax penalty, I’ll just bite the bullet and pay the tax.

Still, parts of the law live on. You can keep your kids on your plan till they’re 26. And nobody can be denied for pre existing conditions. And you can still buy insurance on the exchanges, even if they’re not nearly the bargain everyone hoped they’d be.

So they did put another nail in ObamaCare’s coffin, but it was already being lowered into the ground anyway. Premiums were rising quickly before the penalty was repealed because everyone underestimated how sick the people signing up really were. And since the healthy never signed up, the insurance companies participating either exited or raised rates to keep up with the needs of this very sick population.

It’s a lesson - taking half measures is a half assed approach. You either need to force everyone into the same risk pool (single payer) or you need to retain choice and freedom at the cost of the lives and well-being of the working class.

Idk why it won't let me quote your post Schneed but whatever. I know the point is not to spur job creation, but to increase tax revenue by bringing companies back to paying in the US because it's cheaper than overseas. We had that conversation already.

My point is it's ironic how job creation is this big issue when Obama is president, but magically it's a non-issue under Trump. I guess everything will fall in line now that tax reform has passed.

Idk why it won't let me quote your post Schneed but whatever. I know the point is not to spur job creation, but to increase tax revenue by bringing companies back to paying in the US because it's cheaper than overseas. We had that conversation already.

My point is it's ironic how job creation is this big issue when Obama is president, but magically it's a non-issue under Trump. I guess everything will fall in line now that tax reform has passed.

Yeah, the unemployment rate is what, 4% now? It’s not an issue. Obama inherited (through no fault of his own) a high unemployment rate. It was a focus because it was a problem.

Trump is the one touting one of the major benefits of the bill as more jobs

Gov. Cuomo considering changes to state taxes in response to federal tax reform plan | WHEC.com (http://www.whec.com/news/cuomo-responds-federal-tax-reform-plan-changes-state-structure/4723810/)

So high tax states can change their tax code to adapt to the new plan, SHOCKING.

As I said before, if the states don't want to be hit, then change their code to work within the new structure. Nothing wrong with that. I wonder if Cuomo and the NY legislature will actually carry through with it?

NY really can’t take much more of a hit so I think Cuomo will get something done