I am using as a reference this linky. http://www.breitbart.com/big-government/2017/11/02/gop-tax-bill/
Lets start here with this quote.
- The pass-through rate will be 25 percent, a huge cut for many small-businesses organized as sole-proprietorships and partnerships.
What do you not understand that sole-proprietorships and partnerships have NO INCOME TO REPORT TO YOU. IT IS EARNED INCOME FROM PERSONAL LABOR.
- The bill cuts the current seven individual tax brackets down to four: 12 percent, 25 percent, 35 percent, and 39.6%. Originally, the GOP framework planned to drop the 39.6 percent rate. It was preserved in an effort to prevent tax burden from shifting to lower income taxpayers.
Since individual Income is personal property.. an exchange of a persons labor for monetary compensation.. there is NO INCOME TO TAX. REMOVE EVERY ONE OF THOSE.
TAXABLE INCOME to a person is from investments of money in which there is a profit made. In this case the money is working and not the person.. which is why its taxable.
- Standard deduction rises to $12,000 from $6,350 for individuals, and from $12,700 to $24,000 for married couples.
Since personal labor is an across the board TRADE.. no standard deduction is necessary. ARE YOU ONES THAT SLOW?
- The House bill expands the child tax credit from $1,000 to $1,600, which is a smaller expansion than conservative lawmakers in the Senate had pushed for.
Since there is no income tax... obviously a child tax credit to reduce taxes is beyond stupid again.
You can mostly kiss of your current Schedule A. People will not need any reduction in their incomes for medical expenses and property taxes and so on and so forth because they don't have reportable income in the first place. DO YOU HAVE THAT STRAIGHT NOW?
AGAIN this is not supported and will NOT manfiest. No more tax reductions for buying Tesla electric cars either you know.. because there is NO INCOME to report for the exchange of ones personal labor for "money" or food or benefits by whatever label.
