republicans-pass-budget-resolution tax cuts overtime pay

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rushmore

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I agree that SSI income shouldn’t be taxed, I’m less optimistic about taxes on tips and OT (I think many employers will find ways to pay out less OT, and tipped workers already make peanuts anyways) … but the deficit on this is INSANE. A 2.5 trillion increase?

Not to mention some of the questionable cuts that will have to be made for this to balance out. I’ve seen a lot of denials that Medicaid or Medicare will be cut, but at the same time the text of the bill calls for $880 billion that is specifically mandated to be culled from either Medicaid or Medicare’s budget. I can’t imagine that any tax break would come anywhere close to covering $500+ monthly premiums for the folks kicked off those programs so that could leave a lot of people SOL and fast

I might be missing something, but I don’t see this as an all out win for fiscal conservatism.

If the Senate has a plan to cut costs and make gov spending more efficient WITHOUT raising the deficit or cutting into essential programs, I would be interested to see it.
 
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rushmore said:
I might be missing something, but I don’t see this as an all out win for fiscal conservatism.

If the Senate has a plan to cut costs and make gov spending more efficient WITHOUT raising the deficit or cutting into essential programs, I would be interested to see it.
Click to expand...

I think the plan was /is to make enough cuts in waste to cover the difference.
 
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holdover

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rushmore said:
I’m less optimistic about taxes on tips and OT (I think many employers will find ways to pay out less OT, and tipped workers already make peanuts anyways)
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why would employers pay out less OT ? It doesn't cost them any more than they already pay. Its just going to a different place, the people that worked for it .
 
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First Federal Income Tax. On February 25, 1913, the 16th Amendment officially became part of the Constitution, granting Congress constitutional authority to levy taxes on corporate and individual income.
 
spat

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GOPerfect said:
I am okay with SS not being taxed... Not the other parts though. Tax the tips and tax the Overtime.

Tax all income, or tax no income. Pretty simple concept.
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Tax no income is the goal.

I'll take any incremental change in that direction I can get.


Taxes *always* discourage whatever is taxed.

Do absolutely do not want to tax anything that leads to prosperity, you *only* want to tax things that lead away from it.

We do the exact opposite.

We tax profit (adding value to the economy). But we'll give you a break if you waste enough materials (costs). That's asinine.

If anything it should be the opposite. Tax you for consuming things and give you a break for making a profit.
 
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rushmore said:
I agree that SSI income shouldn’t be taxed, I’m less optimistic about taxes on tips and OT (I think many employers will find ways to pay out less OT, and tipped workers already make peanuts anyways) … but the deficit on this is INSANE. A 2.5 trillion increase?

Not to mention some of the questionable cuts that will have to be made for this to balance out. I’ve seen a lot of denials that Medicaid or Medicare will be cut, but at the same time the text of the bill calls for $880 billion that is specifically mandated to be culled from either Medicaid or Medicare’s budget. I can’t imagine that any tax break would come anywhere close to covering $500+ monthly premiums for the folks kicked off those programs so that could leave a lot of people SOL and fast

I might be missing something, but I don’t see this as an all out win for fiscal conservatism.

If the Senate has a plan to cut costs and make gov spending more efficient WITHOUT raising the deficit or cutting into essential programs, I would be interested to see it.
Click to expand...
We need to stop putting Medicaid and Medicare in the same sentence. Medicare, like SS, should not be cut. Those programs are for the people that worked and retired (well, SS disability should be cut for some). Medicaid is a whole different beast I would love see cut. There are people on Medicaid that dont pay a dime for medical expenses (or dental). They keep popping kids and we pay to take care of them. Hell they even pick people up for their free appointments. Medicaid should be a supplemental insurance where EVERYONE should be paying premiums and co-pays. Enough of this free, free, free shit.

I do agree though, raising the deficit really solves no problems. So much for cutting government spending....
 
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Beerman said:
I’m gonna wait til I see proof before I start believing that the government is doing anything that benefits my wallet or bank account.
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Well the article said 2 trillion in cuts with an increase in 4 trillion cover the next 10 years. The article also said they don’t know where the 2 trillion in cuts will come from yet. Also we are increasing our overall debt by 2 trillion. I’m sure someone will come tell me how Trump has this and he just so wonderful but I agree with you. The Trump tax cuts were good for us or me so I’m thankful for them however we need to get the spending under control and stop adding to the debt.
 
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Grimscale said:
I am NOT ok with cutting Medicare.
That was money taken out of MY paycheck. If they really want to cut it I expect a FULL REFUND of any and all monies removed under that plan, or it is no different than fraud.
Just like SSI.
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I agree it’s a contract. They send quarterly statements saying this is what you will get for them taking your money. For those in the system it shouldn’t be changed. If they refund it it needs to be adjusted for inflation as well so we can quickly invest it and hope to get some returns. I’m young enough I would but others may not be that lucky.
Now should they do something to help those on disability find jobs or get training if it makes good business sense, yes.
 
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rushmore

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Hochulsucks1234 said:
We need to stop putting Medicaid and Medicare in the same sentence. Medicare, like SS, should not be cut. Those programs are for the people that worked and retired (well, SS disability should be cut for some). Medicaid is a whole different beast I would love see cut. There are people on Medicaid that dont pay a dime for medical expenses (or dental). They keep popping kids and we pay to take care of them. Hell they even pick people up for their free appointments. Medicaid should be a supplemental insurance where EVERYONE should be paying premiums and co-pays. Enough of this free, free, free shit.

I do agree though, raising the deficit really solves no problems. So much for cutting government spending....
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I used to have this view of Medicaid too, until I realized how many people I know that are actually on it. It’s not the free lunch that you think it is. Very basic services covered and any one on it has to go through a bunch of hoops.

I will also say that all of the people that I know that are on it work for a living. Health care premiums have gotten so out of control in this country that Medicaid is the only viable option for many working people, especially in rural areas like mine. Until the waste, fraud, and blatant abuse in the private insurance industry is addressed, I don’t feel comfortable with Medicaid cuts, especially for working Americans and their children.
 
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rushmore said:
I used to have this view of Medicaid too, until I realized how many people I know that are actually on it. It’s not the free lunch that you think it is. Very basic services covered and any one on it has to go through a bunch of hoops.

I will also say that all of the people that I know that are on it work for a living. Health care premiums have gotten so out of control in this country that Medicaid is the only viable option for many working people, especially in rural areas like mine. Until the waste, fraud, and blatant abuse in the private insurance industry is addressed, I don’t feel comfortable with Medicaid cuts, especially for working Americans and their children.
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Correct, there are a lot of working class on Medicaid. A lot of them have premiums and co-pays. You can thank Obamacare for creating this mess. I am focusing on the members of society that breed and do not work. Why do they have better health care than my family? They get free appointments. Now their nasty teeth can be taken care of, on us. No co-pays. The trash across from me is "disabled" and they come pick her up for her appointments. My sons asthma medication trippled, but the trash dont pay a dime. Makes me furious.
 
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Defilade

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holdover said:
First Federal Income Tax. On February 25, 1913, the 16th Amendment officially became part of the Constitution, granting Congress constitutional authority to levy taxes on corporate and individual income.
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Funny how that was the same year the Private bank called the FED was voted in on Christmas eve.. BTW the 16th Ammendment was NOT ratified properly. Null and Void!



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22.4 MILLION illegals currenty receive MEDICAID services nationwide.....................CUT THEM ALL OFF!!

That's a lot of bread.

Cutting off all cash payments, rent, Hotel Rooms, shelter center payments, and EBT to illegals, will also drive them the fuck out. Starvation IS a tactic.

NYS is currently ordering the PBMs, to cut drug services to active and state employees to give to Illegals.

Keeping the Trump tax cuts permanent, no tax on tips, or on SS income is a big deal; crush the IRS and all Fed Agencies by 50%+
 
OwnTheRide

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rushmore said:
If the Senate has a plan to cut costs and make gov spending more efficient WITHOUT raising the deficit or cutting into essential programs, I would be interested to see it.
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It may be time to reconsider what we define as "essential programs."

While I tend to agree with those saying that SSI/Medicare are contracts where we expect to received benefit based on money we provided, there are a few realities we need to consider:

1. Both are Ponzi Schemes, and were from the get-go. They entirely rely on income from current workers to pay for workers of the previous generations. The only people who made out were the first couple generations that didn't pay into the systems at all, or throughout the duration of their careers, but still received benefits.

2. The government abused the system, by law, unfortunately. Law requires that excess funds are invested in US Treasuries, which is debt. The excess money has all been spent already, so we essentially have the pleasure of paying for these systems twice - once from the payroll deductions and again from taxes as we repay the debt.

3. #2 is one of many reasons we cannot afford to default on our debt... we owe much, if not most, of it to ourselves. If we default, so-called "essential" programs will collapse.

4. #3 is why it is so important for us to move to a paradigm of fiscal responsibility, where we run an annual surplus that is used to pay down debt, instead of constantly accumulating more debt at an ever-increasing rate.

Basically, if we don't find a way to shift to paying down our debt instead of adding to it, we will inevitably see a complete collapse of essential programs (and likely our government as a whole). So, our choices are to accept pain now, or receive much more pain in the future. To date, our politicians have opted for the latter. We are driving straight towards a cliff, and accelerating, not slowing down or even maintaining speed.

To be blunt, we need MASSIVE cuts to government spending. Huge, eye-watering cuts. Way, way, way more than Trump or Musk or anyone else is even considering. And we need it across most if not all levels of government. We're just talking about the federal government here, but NY (and many other states) have been piling on debt for quite a while now and will eventually be in the same boat. Not to mention local governments. This whole thing is a massive mess, there is no easy fix.

Our choice is simple: significant pain now, or completely crippling economic destruction later. These are our only choices.
 
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How many on this forum have actively made savings/investment debt reduction more important than fun and games?
Now we see the problems across America on a personal responsibility level.
Add to that how a turd who didn't know what a disposal was is now in under 10 yrs. A millionaire, I worked since I was 14, and I am on a fixed income retired; I do have med/high 6 figure investments I could tap if needed but don't see it happening.
 
Vinson57

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Restaurants like Asian places use cash tips to pay their illegals and unfairly cheat the workers out of their tips. Then they cooker the books to give their one legal worker, not in their family, all the tip wages to balance the books.
 
GOPerfect

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Grimscale said:
I am NOT ok with cutting Medicare.
That was money taken out of MY paycheck. If they really want to cut it I expect a FULL REFUND of any and all monies removed under that plan, or it is no different than fraud.
Just like SSI.
Click to expand...

Medicare is one of the top five programs filled with fraud. Like most programs, the idea was sound when it was created, now... a bloated money laundering scheme. Medicare should offer services needed using common sense.

I read a story out of Oregon not too long back. 89 year old man was able to get a kidney transplant at a cost to Medicare nearing 800k. He died of other natural causes less than 4 months later.

Should have never been allowed to get a Medicare paid transplant. That is abuse.

They should be set procedures and set prices of what can be billed and what will be paid.

Far touch waste and abuse.
 
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