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The Media Will be all Over "The Paradise Papers", Right?

The recently leaked documents, from an offshore law firm, expose the corruption of plutocrats including major US corporations, Wilbur Ross and Queen Elizabeth et al. who funnel and launder money through offshore accounts to escape taxes.
Apple alone has some 236 billion hidden in such accounts after CEO Tim Cook told congress Apple does not use tax gimmicks. All this while republicans and corporate democrats are trying to reduce the tax burden on capital gains and inherited wealth while raising taxes on the poorest Americans and gutting much needed social programs. Companies like Google, Amazon and even Starbucks are large political contributers and in what I'm sure is a mere coincidence Apple CEO Tim Cook and Starbucks CEO Howard Shultz were on Hilary Clinton's short list for VP. Clinton was also the #1 recipient of Apple's 2016 political donations totaling over $600,000 (that is known)
I'm sure the media will be all over this, right?

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Paradise Papers EXPOSE United Corporations Of America - YouTubeTYT Politics Reporter Jordan Chariton (https://Twitter.com/JordanChariton) breaks down the Paradise Papers, an explosive release of financial data that impli...https://www.youtube.com/watch?v=qs_REamcH3YImage for post The Media Will be all Over "The Paradise Papers", Right?
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urwutuiss avatar Politics
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Yep, they will be and they should be, but nothing will come of it. The rich get richer and the poor get screwed.

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How many generic, unspecific modifiers can one post have?

recently leaked documents?
an offshore law firm?
expose the corruption ?
major US corporations?
funnel and launder money ?
offshore accounts ?
escape taxes?
raising taxes on the poorest Americans ?
gutting much needed social programs?

How, specifically, does the tax plan raise taxes on the poorest Americans?

@urwutuis New tax brackets. It goes from 10% to 12%.

But it doubles the standard deduction, that means you can earn $12,000 without paying any federal tax at all. So if you made $18,000, under the current tax rate you'd pay $1200, under Trump's tax plan you'd pay $720. If you only made $10,000, under the current structure you'd pay $400, Trump's plan wouldn't tax you at all. And if you're a married couple, you can earn a combined income of $24,000 tax free under Trump's plan. So, how does the plan raise taxes on the poorest Americans?

@Maze But it doubles the standard deduction, that means you can earn $12,000 without paying any federal tax at all. So if...

Cluttering the imbeciles mind with 'the //whole //story', eh?

I would have thought that numb nuts would have learned by now that their 'sources' don't tell them the whole story, and consistently look like fools when they parade their ignorance.

I think you handed him his hat very tactfully by the way. Not my style, but more than half the users here have me blocked. So, maybe there's something to be said for being tactful!

@Maze But it doubles the standard deduction, that means you can earn $12,000 without paying any federal tax at all. So if...

It also eliminates deductions like state and local taxes, student loan interest and personal deductions et al which add up to more than the the standard gain.

@urwutuis It also eliminates deductions like state and local taxes, student loan interest and personal deductions et al which...

You can only deduct from the balance you owe the Feds, they don't pay those taxes for you. If you and your spouse collectively make less than $24,000, there will be nothing to deduct because there will be nothing to pay.

@urwutuis It also eliminates deductions like state and local taxes, student loan interest and personal deductions et al which...

I've paid income taxes for 51 years and have only been able to itemize 3 times, and that was due to medical bills due to emergency surgeries. The average taxpayer doesn't have enough 'deductions.' The 'poor' don't have enough to itemize rather than taking the standard deduction because they likely are paying state/local income taxes and likely their real estate taxes and mortgage interest doesn't come near to take them over the amount needed.

There are things I don't like about the proposals and hopefully they will be worked out. One thing is the medical deduction if you exceed the allowed amounts --- this will be bad for those with high medical expenses.

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