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omphaloskepsis 
Forum Senior Member 
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
 Posted: April 18 2019 at 12:54 |
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The Mueller Report. https://www.justice.gov/storage/report.pdf
Edited by omphaloskepsis - April 21 2019 at 10:55 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 18 2019 at 10:07 |
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I agree with one of your points Mr. Elf. Corporations should pay their fair share of taxes. I've written my senators, representative, and President Trump to complain about it. However, the majority of senators and representatives accept millions from the corporations that pay zero taxes. Healthcare? I support Rand Paul's plan to fix healthcare.
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The Dark Elf
Forum Senior Member
VIP Member Joined: February 01 2011 Location: Michigan Status: Offline Points: 12744 |
Posted: April 17 2019 at 17:01 |
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How These Fortune 500 Companies (Legally) Paid $0 In Taxes Last Year...http://fortune.com/2019/04/11/amazon-starbucks-corporate-tax-avoidance/While Ompaloompa is trumpeting its measly tax return, the rich get richer, corporations are buying back stock to enrich their wealthiest investors while not increasing workers' salaries, the Republicans have made healthcare worse, are not fixing the crumbling infrastructure, and will be seeking cuts in social security and medicare/medicaid to pay for their swindle. Some folks is just plain vacuous.
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...a vigorous circular motion hitherto unknown to the people of this area, but destined
to take the place of the mud shark in your mythology... |
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The Dark Elf
Forum Senior Member
VIP Member Joined: February 01 2011 Location: Michigan Status: Offline Points: 12744 |
Posted: April 17 2019 at 16:50 |
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You're the comedian, understudy for the Clown-in-Chief. Evidently because a lackey of Trump ignored findings and was hired specifically because he's already stated in writing that a President cannot be charged criminally for anything -- then there is no Russian collusion. Whatever. Evidently, the cadre of lawyers Trump has hired (because Trump didn't commit any crimes), is busy fabricating a 40 page rebuttal to the findings of the Mueller Report (because Trump didn't commit any crimes), and will hand the 40 page report to the state-run media at Fox Network to be read instead of the color-coded, heavily redacted crap Barr is vomiting up (because Trump didn't commit any crimes). Meanwhile, several of Trump's co-conspirators have already pleaded guilty to lying regarding their Russian involvement, and Barr could not bring himself to say Trump did not commit obstruction regarding Russian involvement in his campaign. Additionally, Trump still cannot bring himself to admit the Russians did indeed conspire to elect him. He still has not requisitioned the needed resources to assure it doesn't happen again. Because Trump is a narcissistic fraud. Regarding wind turbines, if we switched to solar and wind, and eliminated our reliance on fossil fuel, then the chances of bird species, mammals, fish, and humans going extinct will be greatly reduced. |
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...a vigorous circular motion hitherto unknown to the people of this area, but destined
to take the place of the mud shark in your mythology... |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 12:38 |
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Oh Dude Aaradvark, you are right! The Total deduction for a 2015 family with 4 children would be 36,600. My bad! However, -I derived the $70,000 figure by- subtracting 24,800 from gross $94,800. -Using your deduction, subtract $36,600 from the couple's gross income of $94,800. -$94,800 - $36,600= $58,200 taxable income. -In 2015, the tax owed on $58,200 is $7,811. -Multiply $1000 "children tax credit" times 4 children. $1000x4= $4,000 - Subtract $4,000 from $7,811= $3811 total taxes owed for 2015 tax year. Thanks for spotting my mistake Progaardvark! Let me know if I made another.
Edited by omphaloskepsis - April 17 2019 at 12:40 |
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lazland
Prog Reviewer 
Joined: October 28 2008 Location: Wales Status: Offline Points: 13293 |
Posted: April 17 2019 at 12:16 |
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Would you lot appreciate the help of a tax inspector, albeit a UK one? 
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Enhance your life. Get down to www.lazland.org
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progaardvark
Collaborator
Crossover/Symphonic/RPI Teams Joined: June 14 2007 Location: Sea of Peas Status: Offline Points: 48873 |
Posted: April 17 2019 at 10:54 |
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But you have a couple with four children. The amount from exemptions in 2015 is $24,000, not $8,000. I also noticed that you forgot to subtract the $20,600 (which should really be $36,600) from the $70,000, so their tax amount from the 2015 tax table is much lower than $9581. I think you'll find the numbers are very different from what you calculated for 2015. I would guess it should really be $91 for 2015. Edited by progaardvark - April 17 2019 at 10:54 |
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i'm shopping for a new oil-cured sinus bag that's a happy bag of lettuce this car smells like cartilage nothing beats a good video about fractions |
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Easy Money
Special Collaborator 
Honorary Collaborator / Retired Admin Joined: August 11 2007 Location: Memphis Status: Offline Points: 10367 |
Posted: April 17 2019 at 09:26 |
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Speaking only for my own taxes, there was no particular change, there was no tax cut for me.
Meanwhile, lets suppose, for the sake of argument, the so-called tax cuts didn't benefit only the wealthy. How wise is it to be cutting taxes when the country is running a deficit? It may be a small cut for now, but with compounded interest over the years, that small cut will evaporate quickly. |
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Help the victims of the russian invasion:
http://www.jazzmusicarchives.com/forum/forum_posts.asp?TID=28523&PID=130446&title=various-ways-you-can-help-ukraine#130446 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 09:16 |
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Progaardvark said, "You're oversimplifying something that is much more complicated than this. Larger families are likely to pay more because of the loss of dependent exemptions."
[/QUOTE] No, you're oversimplifying Mr. Aardvark. When examining the difference between a tax credit and an exemption, it is imperative to understand that they work on opposite sides of the same equation. How much income is considered taxable depends on how much money a person or household makes, less any deductions and exemptions. Once the amount owed, based on taxable income, is determined, tax credits can be applied to reduce the actual amount an individual or household must pay back. In other words, tax exemptions help calculate the total amount of tax owed, while tax credits help reduce the total payment made. Understand? Maybe, I'm still oversimplifying. Let's crunch numbers! - In 2015 the "Married filing jointly" deduction was $12,600 and the personal exemption was $4,000 ( that's $8,000 worth of "personal exemptions" for a married couple.) - Add $12,600 to $8,000= $20,600 - In 2015, a married couple deducts a total of 20,600 dollars off their gross income. - Say the couple has 4 children. The 2015 "standard deduction for "dependents" was $1,050. - $1,050 multiplied by 4 children = $4,200 worth of standard deduction for dependents" - add $20,600 and $4,200= $24,800 of total deductions/exemptions. -In 2018 the "Married filing jointly" deduction was raised to $24,000, while the personal exemption and"standard deduction for dependents" were eliminated. -2015 deductions/exemptions = $24,800 - 2018 deduction = $24,000 - Suppose our couple's gross income equals $94,800 for both tax year 2015 and 2018. -Now, subtract the (2015 and 2018) exemptions and deductions, I listed above, from gross incomes of $94,800. - Tax year 2015....$94,800- $24,800= $70,000 taxable income - Tax year 2018...$94,800- $24,000= $70,800 taxable income - Next, compare 2015 tax table vs the 2018 tax table. - According to 2015's IRS tax table- "married filing jointly" tax burden on $70,000 was $9,581. - According to 2018's IRS tax table- "married filing jointly" tax burden on $70,800 was $8,112. - The lower tax rate for 2018 explains the $1,469 difference in tax owed. But we're not finished. - In 2018, Trump doubled the child tax credit to $2,000 per child. Child tax credits are substracted from the tax owed. Do you understand? -In 2015, our couple would subtract "4 child tax credits" worth- $4,000 from $9581 taxes owed. $9,581 - $4,000= $5,581 - Final 2015 tax owed? In 2015 our couple would pay $5,581 dollars in tax for 2015. In 2018 we would subtract "4 child tax credits" worth $8,000 from from $8,112 taxes owed. $8,112 - $8,000= $112 - Final 2018 tax owed? In 2018 our couple would owe $112. - That's $5,460 less then our couple's 2015 tax bill! - I've provided the 2015 and 2018 IRS tax tables below for your perusal.  https://www.irs.gov/pub/irs-prior/i1040tt--2015.pdf https://taxmap.irs.gov/taxmap/pub17/p17-184.htm#TXMP2e990fff Edited by omphaloskepsis - April 17 2019 at 10:48 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 08:31 |
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Cool. Love the ones you work with! Politics' and Trump? I know Trump is abrupt and rough around the edges. That being said, I'm so tire of folks spouting off wild left wing conspiracy theories. Crazy stuff like, "Trump is a Russian Agent!" obfuscates Trump's polices. My taxes went down several thousand dollars. I'm glad Trump did that. I won't have to pay the Obama-care penalty next year. That will save my husband and myself another 1800 hundred dollars. America really does have an illegal immigrant problem. I like what Trump has done in North Korea and I'm glad he hasn't started a war...yet. I don't like Trump vetoing the "attempt to end American support for Saudi Arabia coalition in Yemen." I don't like Trump putting sanctions on Venezuela. The people of Venezuela suffer enough without siege sanctions exacerbating the situation. If Venezuela fails...let them fail without America making it worse. Tulsi Gabbard opposes Trump on these issues. I wish Trump would push to close loopholes that Multinational Companies use to forgo paying taxes. I wish Trump would purpose an "Internet Bill of Rights" I don't like Silicon Valley Monopolies censoring free speech. I wish Trump would break up Giant monopolies like Amazon, Facebook, and Google. I wish Trump would withdraw American Troops from Syria, Afghanistan, and several other countries. Edited by omphaloskepsis - April 17 2019 at 09:43 |
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progaardvark
Collaborator
Crossover/Symphonic/RPI Teams Joined: June 14 2007 Location: Sea of Peas Status: Offline Points: 48873 |
Posted: April 17 2019 at 08:15 |
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You're oversimplifying something that is much more complicated than this. Larger families are likely to pay more because of the loss of dependent exemptions.
Edited by progaardvark - April 17 2019 at 08:15 |
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i'm shopping for a new oil-cured sinus bag that's a happy bag of lettuce this car smells like cartilage nothing beats a good video about fractions |
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Easy Money
Special Collaborator
Honorary Collaborator / Retired Admin Joined: August 11 2007 Location: Memphis Status: Offline Points: 10367 |
Posted: April 17 2019 at 08:03 |
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My heroes and heroines are the young people I work with who display incredible integrity and bravery against grim circumstances.
In the realm of politics I admire the true conservatives who recognize that trump is a big government self serving fraud. That would include Jeff Flake, Bob Corker, William Weld and much of the Libertarian Party. Edited by Easy Money - April 17 2019 at 08:06 |
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Help the victims of the russian invasion:
http://www.jazzmusicarchives.com/forum/forum_posts.asp?TID=28523&PID=130446&title=various-ways-you-can-help-ukraine#130446 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 07:52 |
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My hero? My hero could be a heroine...and it is- Tulsi Gabbard. In 2020, I'm voting for Tulsi Gabbard. Actually my mother is my heroine and my heroes are my husband and puppy Kazak. I named him in honor of Winston Niles Rumfoord's chrono-synclastic infundibulated dog Kazak from the Vonnegut novel "The Sirens of Titan". Now that I think about it, Kurt Vonnegut is one of my heroes. Who's your hero/heroine Easy Money?
Edited by omphaloskepsis - April 17 2019 at 08:07 |
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Easy Money
Special Collaborator
Honorary Collaborator / Retired Admin Joined: August 11 2007 Location: Memphis Status: Offline Points: 10367 |
Posted: April 17 2019 at 07:40 |
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Re ompha: "You are like a puppy that pees on the rug"
Nice, you are a class act all the way, such sophistication, you are very much like your hero. Edited by Easy Money - April 17 2019 at 07:49 |
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Help the victims of the russian invasion:
http://www.jazzmusicarchives.com/forum/forum_posts.asp?TID=28523&PID=130446&title=various-ways-you-can-help-ukraine#130446 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 07:39 |
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Some things never change. According to this Forbes article, in 2012 70% of Corporations paid zero taxes. https://www.forbes.com/sites/aparnamathur/2016/04/20/why-70-of-companies-paid-zero-in-corporate-taxes-they-had-zero-profits/#654387a656e3
Edited by omphaloskepsis - April 17 2019 at 07:56 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 07:31 |
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[/QUOTE] Wrong again my friend, the the 2,000 credit for those making under 2000,000 comes from George W Bush: "Married couples filing jointly who make under $400,000 per year and single individuals, head of household, or married couples filing separately who earn less than $200,000 per year, will be able to take $2,000 per child as their Child Tax Credit. This is one of the many tax cuts instituted by President George W. Bush early in his first term, geared towards giving families some relief at tax time. When the Child Tax Credit came into existence in 1998, the per child amount was $400. Over the years, it has been increased substantially."[/QUOTE] What number is 2000,000 Easy Money? Do you mean 200 hundred thousand or 2 million? Just because your friends continually address you, "Wrong again my friend" Easy Money, doesn't mean you should repeat "Wrong again my friend" when other folks dispense common facts. Do you understand what I'm saying Easy Money? Do you dispute these articles as false? I could post a thousand more. Heck I could post the 2015 and 2018 IRS tax laws. You're so cute Easy Money. You're like a puppy that pees on the rug. https://www.newsweek.com/ivanka-trump-child-tax-credit-double-2019-irs-1390146 https://www.vox.com/policy-and-politics/2017/11/15/16652644/congress-child-tax-credit-senators-rubio-gardner https://www.politico.com/story/2017/11/15/senate-tax-plan-child-tax-credit-ivanka-trump-244924 https://www.kq2.com/content/news/Child-tax-credit-doubles--504189411.html Edited by omphaloskepsis - April 17 2019 at 07:41 |
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progaardvark
Collaborator
Crossover/Symphonic/RPI Teams Joined: June 14 2007 Location: Sea of Peas Status: Offline Points: 48873 |
Posted: April 17 2019 at 07:28 |
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This is all fine and dandy, but we all know who that tax law really benefited, do we not?
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i'm shopping for a new oil-cured sinus bag that's a happy bag of lettuce this car smells like cartilage nothing beats a good video about fractions |
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Easy Money
Special Collaborator
Honorary Collaborator / Retired Admin Joined: August 11 2007 Location: Memphis Status: Offline Points: 10367 |
Posted: April 17 2019 at 06:41 |
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Wrong again my friend, the the 2,000 credit for those making under 2000,000 comes from George W Bush: "Married couples filing jointly who make under $400,000 per year and single individuals, head of household, or married couples filing separately who earn less than $200,000 per year, will be able to take $2,000 per child as their Child Tax Credit. This is one of the many tax cuts instituted by President George W. Bush early in his first term, geared towards giving families some relief at tax time. When the Child Tax Credit came into existence in 1998, the per child amount was $400. Over the years, it has been increased substantially." Edited by Easy Money - April 17 2019 at 06:42 |
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Help the victims of the russian invasion:
http://www.jazzmusicarchives.com/forum/forum_posts.asp?TID=28523&PID=130446&title=various-ways-you-can-help-ukraine#130446 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 06:25 |
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Normally I wouldn't take you seriously Dark Elf. This thread is littered with your Russian Collusion Conspiracy Theories. "Russia, Russia, Russia. The sky if falling!!"  You crack me up Dark Elf. You remind me of conspiracy theorist- Alex Jones. Except you and Alex disagreed on Russian Collusion. That being said, just like Alex Jones- The Dark Elf is right sometimes. Your correct,  the last hundred years of pollution has killed more animals than wind turbines. Displacing animal habitats with urban sprawl kills more animals than wind turbines. Wars kill more animals than wind turbines. Animal Shelters kill more animals than...Edited by omphaloskepsis - April 17 2019 at 06:39 |
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omphaloskepsis
Forum Senior Member
Joined: October 19 2011 Location: Texas Status: Offline Points: 5977 |
Posted: April 17 2019 at 04:23 |
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Yeah, Trump doubled the child tax credits from $1000 to $2000 per child. That means you get to deduct $2000 dollars per child off your tax bill. That plus the lower tax brackets and the 24K (married filing jointly deduction) must have been difficult for people with kids. That means a couple with 4 kids, grossing 94K would have to pay $16 in taxes for 2018. For the Obama 2015 tax year that same couple would have to pay $6061. Edited by omphaloskepsis - April 17 2019 at 05:53 |
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The American Politics Thread
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The Dark Elf wrote: