Discussion of the New Tax Law

Discussion Leader: Elmer Galbi

Let's begin with some principles

Most important:
The most popular and fair taxes
are taxes on others.

Tax the rich (anyone who has more than you).

Tax corporations (no real people are hurt by this ).

Tax banks and money-lenders
(they have too much money and what they do
is much less important than what you do)

Tax foreign trade
(What voters would would object to taxing foreigners?)

Written by a professiona economist in 2013

A couple of preliminary questions

1) Was this a Tax Simplification

Let's see if this Tax Simplification

2) Was this primarily a Middle Class Tax Cut

Let's See What the Wall Street Journal Says

Do You Care About the Windfall to Corporations

What are the Corporate Tax Rates

How Did Apple Do Under the New Law

Have you seen some confusing Headlines

Confusing Headlines

Let's get to how the law affects many congressmen

What was in the minds of the congressmen who enacted this law

Is the new law Good For The Country

Is the new law Good For You

Which is more important to our representatives in congress

Let's consider the inheritance tax

Discussion of Inheritance Tax

New Tax Rates

Tax on Investment Income

Tax on Long term Gains

Additional Tax on Investment Income

How are Divorces affected

Standard Deduction and Personal Exemption

Deduction of State Income, Sales and Property Taxes

529 College Saving Plans

Effect on High Earners in Calif

Some Strange Provisions in the Bill and Why they are there

Strange provisions in the law


Tax Avoidance is legal.
Tax Evasion is not legal

Is there something fundamentally unfair about the very rich
avoiding the high rates paid by ordinary people?????

Is it moral to require some people pay at a greater percentage rate than others.

The biblical notion of tithing, for example, is entirely universal — everyone gives a tenth
With tithing no one is forced to give half while others gave a tenth.

Let us start by seeing what
the bible says about taxes --

What the Bible says about taxes

Since this is a Politically Correct Group, I thought
that since we looked at the bible, we should also look at
what the Muslim Koran says sbout taces

What the Koran says about taxes

Do you think this tax law enacted in a "reasonable way"?
Is our country facing a breakdown of the ability to govern?

Is this a "Tragedy of Commons"