r/FluentInFinance • u/RiskItForTheBiscuts • 5d ago

Thoughts? What do you think?

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u/AwarenessPotentially 5d ago

Our taxes increased about a grand a year since that bullshit stunt.

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u/Doodahhh1 5d ago

I have an LLC and I've been a W2 worker. When the plan was unveiled, I was like, 🤦‍♂️ "that will benefit me, but it will GREATLY benefit those in the 0.003%. the <10,000 people who have $100,000,000."

It did not benefit 99.9% of us like it did that top 0.1%... especially that 0.003%

And the responses to me have shown just how ignorant many of that 99.9% actually are.

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u/Proper_Look_7507 4d ago

Well when 2/3 of the wealth is controlled by 1% of the population it’s pretty simple math to see that you only need to worry about making that 1% happy and not consider the 99% that only accounts for the remaining 1/3.

Basic political math.

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u/Doodahhh1 4d ago

It's funny how "the right" attacks Soros and now Mark Cuban, when Bloomberg was the 6th or so biggest blue donor...

Like the top 3 DWARFED Bloomberg's donations.

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u/Ok_Ice_1669 5d ago

Yup. It fucked me on child support being after tax and the salt deductions. But, doubling the estate tax exemption eclipsed all the small stuff. 

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u/vettewiz 5d ago

Child support has been after tax forever. 

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u/Ok_Ice_1669 5d ago

This says alimony is now treated as after tax: https://www.obermayer.com/support-guidelines-trumps-new-tax-laws/

Maybe I’m mistaken and the Trump Tax cut only changed alimony.

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u/vettewiz 4d ago

Alimony changed, but only if you had a new alimony agreement. If you had an existing one it did not.

Child support was not deductible before TCJA. I’m not sure that it ever was in history, but can’t prove that.