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New Tax "Reforms" offering D.C. Benefits


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7 minutes ago, N.E. Brigand said:

Thanks for this reply. Would it be fair to summarize your position as follows: "Because DCP members know too little about corps finances, there is no point in discussing that subject here"?

 No. I only gave my own opinion on this... because you just asked it of me here. If others want to discuss the tax law further,  I see no reason why they can't/ shouldn't be able too within the DCP guidelines.

Edited by BRASSO
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1 hour ago, N.E. Brigand said:

I'm no psephologist, but I feel comfortable saying that political polls on average are better than most people believe. The average of all the major national political polls for the 2016 election, for instance, was only 1 pt. off from the actual voting results. (Just not in all the right places. The problem was not enough good state polls.)

But again, if you don't trust any predictions at all, how do you decide which course of action will lead to the best results? And to make it specific to this topic: what should drum corps do, if anything, in anticipation of the new law's effects?

Oh, you had to...

 

57 minutes ago, N.E. Brigand said:

I'm fond of George H.W. Bush's term: "voodoo economics". :22_stuck_out_tongue_winking_eye:

Maybe a corps could do a show with that title. There have been shows that have incorporated voodoo elements. I'm picturing a hot new drill move called the "Laffer Curve".

(Nice to see you posting again!)

LOL, well played.

And the bell curve, and the "efficient frontier"!  Or even the Yield Curve!  Might revive my interest a little.

I'm literally with my six family-members on the island of Bonaire, teaching my kids to scuba and enjoying 82 degree weather with pristine shore diving.  Since 17Dec.

One group went to see a lighthouse.  Another went to the grocery to make pasta tonight.  Ergo, the house, and the wifi, is mine.

And I'm wasting it with you knuckleheads.

(Oh, and I'm listening to That One Second through the_Kid's Bluetooth speaker...  I hear it's cold in Cleveland...  :innocent:)

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2 hours ago, Jeff Ream said:

well, the personal stuff has expiration dates, the corporate cuts don't. The higher our debt goes, the more our borrowing costs go, which in the end costs us all.

Which party will be the one to not extend the benefit?

 

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The rub is that the new law doubles the personal exemption and eliminates, for "many", the NEED to itemize to deduct charitable contributions to get a benefit.  Now, BUNCHES of people will now have more discretionary income to give.  What happened to the opportunity dreamers? 

Several charities have claimed this will gut a large portion of their donor base.  Hogwash, but I digress...

A taxpayer CAN itemize anytime they want, although the standard deduction may reduce more income from taxation than itemizing will.

Did I see that United Way is one who's grousing?  Interesting that they claim a very large chunk of their income comes in small donations organized by UW in the corporate world.  Small income deductions to fulfill a campaign (that generally has no tax impact for the average $450-giver), and likely won't prevent that same employee from participating in UW campaigns if his company thinks it's important to his job satisfaction (and the corp's ability to publicize that fact).

Next...  Let's talk about what's happening to all those on the other end...  Will it be more, less, or about the same financial dollar benefit for a wealthy contributor to maintain his/her annual giving planning?

I'm going to go pop some popcorn and make myself another drink...

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4 minutes ago, garfield said:

 

I'm literally with my six family-members on the island of Bonaire, teaching my kids to scuba and enjoying 82 degree weather with pristine shore diving.  Since 17Dec.

.

 

 82 degree weather ?  Thats just terrible. I hope your weather there moderates for you over the next few days.

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1 hour ago, HockeyDad said:

You'll get no argument from me on that. However, when O exploded the debt by 9 trillion when he was in office, I recall no gnashing of teeth on here about it. Does the national debt only take on importance when there's an R in office?  I would cut all federal programs, across the board, by a equal percentage until the budget is balanced. But that's me. I must be mean spirited.

yes he did...but....a lot of it started under Bush which is conveniently forgotten. TARp started as the brain child of Paulson, fleshed out by Neil Kashiri, and then Geithner, Paulson and Bernanke made it move. I believe the original bill was $750 billion, then grew. But running 2 wars and a tax cut also didn't help under Bush, and Obama was signing his death warrant if he didnt extend them. 

 

Honestly, regardless of party in office, if you want to make the governments money work better, every branch and department should go under a full forensic audit to root out the bloat and waste, lobbying curtailed, perks cut back, term limits and more. it doesnt matter who we vote in after they have been gerrymandered onto us, they are the worst examples of all that is wrong with our government.

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25 minutes ago, garfield said:

Which party will be the one to not extend the benefit?

 

whichever one is dumb enough

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19 minutes ago, garfield said:

The rub is that the new law doubles the personal exemption and eliminates, for "many", the NEED to itemize to deduct charitable contributions to get a benefit.  Now, BUNCHES of people will now have more discretionary income to give.  What happened to the opportunity dreamers? 

Several charities have claimed this will gut a large portion of their donor base.  Hogwash, but I digress...

A taxpayer CAN itemize anytime they want, although the standard deduction may reduce more income from taxation than itemizing will.

Did I see that United Way is one who's grousing?  Interesting that they claim a very large chunk of their income comes in small donations organized by UW in the corporate world.  Small income deductions to fulfill a campaign (that generally has no tax impact for the average $450-giver), and likely won't prevent that same employee from participating in UW campaigns if his company thinks it's important to his job satisfaction (and the corp's ability to publicize that fact).

Next...  Let's talk about what's happening to all those on the other end...  Will it be more, less, or about the same financial dollar benefit for a wealthy contributor to maintain his/her annual giving planning?

I'm going to go pop some popcorn and make myself another drink...

honestly, commissioned folks have the most to lose, like me. I've done the math....doubling the exemption hurts me honestly, but I'll still donate.

 

Tho I have seen his hedge funds that he targeted on the campaign trail lobbied their way out of any adjustments.

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20 minutes ago, garfield said:

Yea, but the price you pay for yours...   

Enjoy it, really.

 

 I used to love the N.E.  winters up north... skiing, sledding, snowmobiling, snowboarding, etc. Now I  just want out. We winter in Florida for 3-4 months now. Leaving in a few weeks. Its supposed to have record breaking wind chill factors in Boston region of minus 12- 16 degrees the next couple of days. Oh Gawd, that'll make me potentially housebound and homicidal if I'm not careful.

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