Talk about out of touch! I don’t have $5.5 million (estate tax level) because I spend too much on Pippi toys and food, Rx and Amazon. Maybe not.clemencia2us wrote: ↑Mon Dec 04, 2017 12:13 pmDid you see what Senator Grassley said. Said people aren't millionaires because they spend their money on beer, women and movies!!floridacatlover wrote: ↑Mon Dec 04, 2017 11:52 amMajority Leader Kevin McCarthy’s take on the tax bill Monday morning.Dgflorida wrote: ↑Sun Dec 03, 2017 9:09 amGood Sunday morning all,
One of my frugal FB groups got into a discussion of the recent Congressional tax bills. As usual, there were the sky is falling group, but fortunately, there were some reasonable people posting. It ended up being a good discussion and I learned some things. Some people said they needed to become preppers. Interesting. One person shared a "test" that may determine if you will save on your taxes or not with the new plan. We will with either current proposal. Next year should be interesting.
On Monday, McCarthy signaled that Republicans could take care of the deficit issue by making changes to programs like Social Security, Medicare or Medicaid. Those social safety net programs account for most federal spending.
As a stockholder I’ll likely benefit from the tax bill. But I think it is disgraceful that the tax cuts will be used to justify cuts in SS, Medicaid and Medicare. Individuals may benefit to the tune of several hundred $ or perhaps several thousand $ - and only until 2025 if the Senate sunset provision is enacted. But at what cost to the long term viability of social programs. Hey, I’m glad I don’t have kids!