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PostPosted: Tue Nov 14, 2017 7:31 pm 
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Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


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PostPosted: Wed Nov 15, 2017 12:41 am 
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133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


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"Leadership: Whatever happens, you're responsible. If it doesn't happen, you're responsible." - DT(2013)

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PostPosted: Wed Nov 15, 2017 7:54 am 
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ip_law-hokie wrote:
133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


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No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.


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PostPosted: Wed Nov 15, 2017 9:30 am 
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133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


Sent from my iPhone using Tapatalk

No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.


It’s (another) interesting strategy.


Sent from my iPhone using Tapatalk

_________________
"Leadership: Whatever happens, you're responsible. If it doesn't happen, you're responsible." - DT(2013)

"We're not going to own it. I'm not going to own it. I can tell you the Republicans are not going to own it." - DT(2017)


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PostPosted: Wed Nov 15, 2017 9:56 am 
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ip_law-hokie wrote:
133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


Sent from my iPhone using Tapatalk

No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.


It’s (another) interesting strategy.


Sent from my iPhone using Tapatalk

Apparently doing so will allow the senate to accept the corporate tax cut in 2018 vs pushing it out to 2019. IMO that is key.


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PostPosted: Wed Nov 15, 2017 10:14 am 
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A few things Ryan pointed out as part of the decision making process.

First, they wanted to try and eliminate special interest programs, those that reward you for doing what they want. There are too many of them that benefit small segments of the population. In doing so the intent is to move more people away from itemizing (using those incentives) and use a combination of increased general credits/deductions and lower rates to reduce overall tax liability for most people. He favors a flat tax but knows that isn't doable.

Regarding the mortgage interest deduction, the rationale for capping it at $500k mortgage is as follows. Two thirds of taxpayers own a home. Two thirds of homeowners have a mortgage. And 90% of those mortgages are less than $500k. So only 5% of taxpayers are affected by the cap. So this benefits a great majority of taxpayers.

Similarly, capping deductibility of local real estate taxes at $10k. 90% pay less than $10k, so again a great majority benefits.

Small business (pass through) taxes at 9% at the low end. As profits go up the rate slides to a max of 20% I believe. Provisions will be put in place to keep high earners from declaring themselves small businesses (as a Wisconsinite he called it the Aaron Rodgers rule) just to get a lower rate.

Small businesses being able to write off cap ex in the year it occurs.

There was more, but the gist is trying to simplify the process by greatly reducing the number of special deductions and getting more people to the standard deduction.


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PostPosted: Wed Nov 15, 2017 3:27 pm 
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133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


Sent from my iPhone using Tapatalk

No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.


It’s (another) interesting strategy.


Sent from my iPhone using Tapatalk

Apparently doing so will allow the senate to accept the corporate tax cut in 2018 vs pushing it out to 2019. IMO that is key.


Better luck next time:

https://www.wsj.com/articles/republican ... 1510777290

Mr. Johnson’s position could undermine the Senate’s efforts to pass a tax plan by early December or get the bill to President Donald Trump’s desk by Christmas. Republicans are counting on near universal support from within the party to pass a bill on party line votes. With 52 seats in the Senate, Republicans can lose no more than two votes unless they can somehow find a way to win votes from Democrats.

Other Senate Republicans have expressed concerns. Jeff Flake of Arizona, for example, has worried about deficits and Susan Collins of Maine has worried about Republican plans to repeal the insurance coverage mandate in the Affordable Care Act as part of a tax overhaul.

_________________
"Leadership: Whatever happens, you're responsible. If it doesn't happen, you're responsible." - DT(2013)

"We're not going to own it. I'm not going to own it. I can tell you the Republicans are not going to own it." - DT(2017)


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PostPosted: Wed Nov 15, 2017 3:46 pm 
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Joined: Wed Aug 21, 2013 8:29 pm
Posts: 5672
ip_law-hokie wrote:
133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
ip_law-hokie wrote:
133743Hokie wrote:
Town hall meeting in Herndon, VA covered on Fox. Gave really clear explanations of the proposed changes and the rationale behind them as well. Very beneficial. Makes sense.


Did he discuss repealing the individual mandate?


Sent from my iPhone using Tapatalk

No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.


It’s (another) interesting strategy.


Sent from my iPhone using Tapatalk

Apparently doing so will allow the senate to accept the corporate tax cut in 2018 vs pushing it out to 2019. IMO that is key.


Better luck next time:

https://www.wsj.com/articles/republican ... 1510777290

Mr. Johnson’s position could undermine the Senate’s efforts to pass a tax plan by early December or get the bill to President Donald Trump’s desk by Christmas. Republicans are counting on near universal support from within the party to pass a bill on party line votes. With 52 seats in the Senate, Republicans can lose no more than two votes unless they can somehow find a way to win votes from Democrats.

Other Senate Republicans have expressed concerns. Jeff Flake of Arizona, for example, has worried about deficits and Susan Collins of Maine has worried about Republican plans to repeal the insurance coverage mandate in the Affordable Care Act as part of a tax overhaul.

Don't hold your breath on this one ip, I think you're going to lose.


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PostPosted: Wed Nov 15, 2017 3:58 pm 
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Sent from my iPhone using Tapatalk[/quote]
No, that wasn't brought up. I assume because it is still in the early stage of discussion and not what has actually been proposed in writing. I did hear elsewhere that it would save $350 billion.[/quote]

It’s (another) interesting strategy.


Sent from my iPhone using Tapatalk[/quote]
Apparently doing so will allow the senate to accept the corporate tax cut in 2018 vs pushing it out to 2019. IMO that is key.[/quote]

Better luck next time:

https://www.wsj.com/articles/republican ... 1510777290

Mr. Johnson’s position could undermine the Senate’s efforts to pass a tax plan by early December or get the bill to President Donald Trump’s desk by Christmas. Republicans are counting on near universal support from within the party to pass a bill on party line votes. With 52 seats in the Senate, Republicans can lose no more than two votes unless they can somehow find a way to win votes from Democrats.

Other Senate Republicans have expressed concerns. Jeff Flake of Arizona, for example, has worried about deficits and Susan Collins of Maine has worried about Republican plans to repeal the insurance coverage mandate in the Affordable Care Act as part of a tax overhaul.[/quote]
Don't hold your breath on this one ip, I think you're going to lose.[/quote]

I favor aspects of the plan.

but if you've lost Ron Jon, that makes 50 with Rand Paul. Collins is not going to support repeal of the individual mandate. Flake? Corker? McCain? My money is on another Trump legislative set-back. Injecting obamacare back into this was beyond stupid.

_________________
"Leadership: Whatever happens, you're responsible. If it doesn't happen, you're responsible." - DT(2013)

"We're not going to own it. I'm not going to own it. I can tell you the Republicans are not going to own it." - DT(2017)


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