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Thread: New Non-Partisan Tax Plan Calculator

  1. #1

    New Non-Partisan Tax Plan Calculator

    There has been a lot of discussion about the recent tax bill and complaints about the state and local property tax cap (SALT deduction). I think that most taxpayers will see a decrease in their federal taxes despite the $10000 SALT limit. The lower rates and higher standard deduction will cause most people to see a decrease. Check out this website to see the facts and avoid the partisan spin:

    http://taxplancalculator.com/

    The calculator showed that my federal taxes would go down by about $700. I would be interested in seeing people post what they are saving (or paying extra), of course without revealing too many confidential details...

  2. #2
    Forum All Star middlein87's Avatar
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    Says I should save $3,600. Thanks, Roskam!

  3. #3
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    Quote Originally Posted by middlein87 View Post
    Says I should save $3,600. Thanks, Roskam!

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    Is that the Maxim Lott of Fox News by any chance :-)

    BTW, yeah, a lot of tax folks are saying watch down the road a bit.

  5. #5
    I did not realize this tax website was associated with Fox News but I have to ask "what is wrong with Fox News?". Interestingly, I had written my own Excel program that does the same calcs and it agreed with the Max Lott program so I thought it was a good tool to put out there. When it comes to the differences between the old tax tables and the new tax tables "facts are facts"...
    Last edited by rayman29; 12-29-2017 at 12:03 AM.

  6. #6
    Administrator Clamato's Avatar
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    Quote Originally Posted by middlein87 View Post
    Says I should save $3,600. Thanks, Roskam!
    It was designed to benefit America’s wealthiest residents. So your result is hardly surprising. I guess you’re not interested in one of my trademarked Triple R signs.

    Repeal & Replace Roskam

  7. #7
    Administrator Clamato's Avatar
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    The WSJ calculator says I am saving $7,600. Thanks Roskam!

  8. #8
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    Quote Originally Posted by Clamato View Post
    It was designed to benefit America’s wealthiest residents. So your result is hardly surprising. I guess you’re not interested in one of my trademarked Triple R signs.

    Repeal & Replace Roskam
    Clam - you're nuts this morning. The tax bill math is what it is. It helps families making under $100k the most. When there are facts there is no need to give opinions or bad guesses. The tables and calculators don't lie.

  9. #9
    Administrator Clamato's Avatar
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    Quote Originally Posted by Grateful View Post
    Clam - you're nuts this morning. The tax bill math is what it is. It helps families making under $100k the most. When there are facts there is no need to give opinions or bad guesses. The tables and calculators don't lie.
    Yes. Of course it does. My mistake.

    Though I cannot wait to see how much help they are getting in four or five years. These broke *** *****es are really going to enjoy the increase in the deficit which will eventually cause the slashing of programs that help them. But,hey, that's a stupid argument. They'll be getting an extra hundo a month next year. That's the important part.

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    Quote Originally Posted by Clamato View Post
    Yes. Of course it does. My mistake.

    Though I cannot wait to see how much help they are getting in four or five years. These broke *** *****es are really going to enjoy the increase in the deficit which will eventually cause the slashing of programs that help them. But,hey, that's a stupid argument. They'll be getting an extra hundo a month next year. That's the important part.
    "It was designed to benefit America’s wealthiest residents" - this was your quote regarding the design of tax law. Dead wrong.

    The deficit problem is not a revenue problem, but rather a spending problem. Federal income tax receipts are at an all-time high. Far and away the largest percentage of government redistribution goes to entitlement payments.

    Politicians on both sides are scared to death to touch those issue due to the political backlash. The deficit will continue until those programs are changed.
    How about tying SS to life expectancy so people are not on claim for 25 years. When SS was created life expectancy was 62 and the benefit started at age 65. It was never meant to be the long-term retirement program it has become.

  11. #11

    Smile

    I get some of the residuals. I used Repeal and Replace Roskam at a protest last February.

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