Showing posts with label Personal Exemption. Show all posts
Showing posts with label Personal Exemption. Show all posts
Thursday, August 29, 2024

The personal exemption from the income tax should be $127,000 today

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 The personal exemption in 1913 was $4,000 when the average Joe made about $800 a year. Adjusted for inflation, that's $127,000 in July ...
Friday, December 15, 2017

Sometimes Ann Coulter is an idiot, for instance when dissing federal encouragement of having children

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You'd think someone who wants America for Americans would want to encourage anything which promotes Americans having more children ins...
Thursday, November 16, 2017

House tax bill passes 227-205, Senate still working on theirs

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From the story here : [T]he bill would limit state and local deductions and the mortgage interest deduction, eliminate the personal ex...
Saturday, November 4, 2017

How to tax the rich and only the rich as originally intended in 1913, and solve a lot of problems

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In 1913 when the average Joe made about $800 a year, the first income tax under the 16th Amendment didn't worry him because he didn...
Friday, November 3, 2017

In all seriousness, Republican elimination of personal exemptions is just sleight of hand to raise your taxes

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In 2017, the personal exemption is $4,050. If your little tribe is six, mommy, daddy, and four kids, your personal exemptions add up...

Republican elimination of personal exemptions gives me an idea for truly revolutionary tax reform

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In 1913 when the income tax began there was no such thing as the standard deduction. That didn't come along until 1944. The origin...

Republican tax reform includes a sneaky tax increase on itemizers, removing the personal exemption privilege

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Josh Barro, here : Currently, you get to take the personal exemption even if you also itemize deductions, but you get to take the stan...
Thursday, October 4, 2012

Romney Is Half Right: One Tax Proposal Is New, And Alarming

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And it is amazing no one has taken  this seriously: "My plan is not like anything that's been tried before. My plan is to bring do...