Mimi Walters, House of Rep. Tax reform and Net Neutrality Position?????

Park

New member
Mimi Walters is our congressional representative in Congress. 

Currently, she publicly came out in support of the tax bill reducing mortgage interest rate deduction from $1M to 500K and eliminating state and local tax from being deductible on federal tax returns. 

She serves on the Energy and Commerce Committee and the Communications and Technology Subcommittee. 
Currently, there is legislation that basically eliminates Net Neutrality in the Communication and Technology subcommittee which she serves on. 
Many believe if Net Neutrality is eliminated, we the consumers will pay the ISP's, Cox and ATT more money for the services we already enjoy under Net Neutrality.  Some argue that if Net Neutrality is repealed, high speed streaming like Netflix, Amazon Prime and Hulu and other online streaming will result in additional fees to these ISP's. 
She is a co-sponsor to Resolution 86 which will basically eliminate Net Neutrality. 

Please let Mimi Walters know whether you support her current positions. 
https://walters.house.gov/contact/email

 
Cannot wait to get Walters out.  This quote is laughable.

Almost half of Walters? constituents take the state and local tax deduction. But she said she thinks the deduction changes, and subtle shifts the bill makes to the income ranges in each tax bracket, mean more people in the middle class will pay less in taxes, ?which has always been my goal.?

?I had said from the very beginning, if the middle-income Americans in my district are going to benefit from this tax package, then I?m going to support it,? she said.
http://www.latimes.com/politics/la-pol-ca-california-votes-tax-bill-20171219-htmlstory.html
 
Irvinecommuter said:
jmoney74 said:
CNN has a calculator that says most middle class families in CA incomes will go up.
http://www.cnn.com/2017/12/13/politics/calculate-americans-taxes-senate-reform-bill/index.html

For sure because many itemize between mortgage, SALT, and charitable contributions.  I do not know who was advising Walters but there were plenty of votes to spare...she should have ran for cover.

I think you misunderstood jmoney74.  After-tax incomes go up because taxes went down.

Here are some conservative assumptions I'm inputting to get the same result:

Income:  $125-225k
Itemize:  Yes
Filer Type:  Joint
Children:  0
High tax state:  Yes

The Result:  Your taxes will go down and your after-tax income will go up 2.4%.
 
Liar Loan said:
Irvinecommuter said:
jmoney74 said:
CNN has a calculator that says most middle class families in CA incomes will go up.
http://www.cnn.com/2017/12/13/politics/calculate-americans-taxes-senate-reform-bill/index.html

For sure because many itemize between mortgage, SALT, and charitable contributions.  I do not know who was advising Walters but there were plenty of votes to spare...she should have ran for cover.

I think you misunderstood jmoney74.  After-tax incomes go up because taxes went down.

Here are some conservative assumptions I'm inputting to get the same result:

Income:  $125-225k
Itemize:  Yes
Filer Type:  Joint
Children:  0
High tax state:  Yes

The Result:  Your taxes will go down and your after-tax income will go up 2.4%.

That's odd I put in the same parameters and got a different answer:
 

Attachments

  • alabamataxgraph.JPG
    alabamataxgraph.JPG
    84.6 KB · Views: 139
Bottom-line is , it is not that big of a "hike" to pinch  and the " cut. " where it may happen is not big enough to matter

net - net - the ONLY channel this can help people like us (w 2 wage earners,  and not real estate pass through mavens)  is if our fat cat mgmt teams and CEOs decide to raise our wages  -- and I dont meant this puny $1000 bonus either

How will that happen ? Only when labor force competition becomes so fierce that they are forced to pay up to retain people - in the broader economy  - just as it happened in the tech sector in recent years. 

But, I am not holding my breath for it .  We will see ... one thing we keep forgetting is, what matters just in the US matters less and less

For me , todays biggest news was that China is going to relax its debt reduction  campaign in order to boost growth and jobs -- THAT my friends, matters more for the global economy than this tax cut which is already priced in by now
 
I wonder if they released a new version of the calculator midday because I'm getting the same as HMart now.
 
fortune11 said:
Bottom-line is , it is not that big of a "hike" to pinch  and the " cut. " where it may happen is not big enough to matter

net - net - the ONLY channel this can help people like us (w 2 wage earners,  and not real estate pass through mavens)  is if our fat cat mgmt teams and CEOs decide to raise our wages  -- and I dont meant this puny $1000 bonus either

How will that happen ? Only when labor force competition becomes so fierce that they are forced to pay up to retain people - in the broader economy  - just as it happened in the tech sector in recent years. 

But, I am not holding my breath for it .  We will see ... one thing we keep forgetting is, what matters just in the US matters less and less

For me , todays biggest news was that China is going to relax its debt reduction  campaign in order to boost growth and jobs -- THAT my friends, matters more for the global economy than this tax cut which is already priced in by now

Problem is that US keeps falling more and more behind in green energy, climate change issues, trade deals, and immigration.  People seem to forget that there are good viable alternatives to the US now. 
 
I have said this before and want to re emphasize it here again --

The reason recovery feels weak is because wages haven't grown.  Unless you already had wealth to invest in assets like stocks and houses you made money , otherwise you were left behind

Wages haven't grown because companies are larger and larger and keeping out competition.  More mergers = more layoffs , more tacit collusion to keep wages low  - this is why the very top 0.01% have seen astronomical gains while you have not

The above situation is in many ways becomes very similar to late 19th century.  Large robber barons of that era are similar to today's giants (except the physical violence of course) in every field - tech , insurance , manufacturing, autos.  its the name of the game - consolidation, merge

The 80s Raegan boom was aided in a large part by new areas of global economy opening up and interest rates coming down.  On both the fronts , we don't have any new room.

Tax cuts by themselves won't create wage pressures.  There has to be a real competition out there for that to happen.  Unfortunately with things like this net neutrality repeal, pendulum continues to swing in direction of the incumbents.
 
fortune11 said:
I have said this before and want to re emphasize it here again --

The reason recovery feels weak is because wages haven't grown.  Unless you already had wealth to invest in assets like stocks and houses you made money , otherwise you were left behind

Wages haven't grown because companies are larger and larger and keeping out competition.  More mergers = more layoffs , more tacit collusion to keep wages low  - this is why the very top 0.01% have seen astronomical gains while you have not

The above situation is in many ways becomes very similar to late 19th century.  Large robber barons of that era are similar to today's giants (except the physical violence of course) in every field - tech , insurance , manufacturing, autos.  its the name of the game - consolidation, merge

The 80s Raegan boom was aided in a large part by new areas of global economy opening up and interest rates coming down.  On both the fronts , we don't have any new room.

Tax cuts by themselves won't create wage pressures.  There has to be a real competition out there for that to happen.  Unfortunately with things like this net neutrality repeal, pendulum continues to swing in direction of the incumbents.

We are also completely ignoring the coming of automation.  In about 5 to 10 years, truck and deliver drivers will start being phased out.  Telemedicine will change medical treatment.  Banks, restaurants, and other service industries are already pushing self-service kiosks and reducing staff.  Corporations will keep getting larger because it make sense and continue to drive down labor either by getting rid of jobs or moving them overseas. 
 
Irvinecommuter said:
fortune11 said:
I have said this before and want to re emphasize it here again --

The reason recovery feels weak is because wages haven't grown.  Unless you already had wealth to invest in assets like stocks and houses you made money , otherwise you were left behind

Wages haven't grown because companies are larger and larger and keeping out competition.  More mergers = more layoffs , more tacit collusion to keep wages low  - this is why the very top 0.01% have seen astronomical gains while you have not

The above situation is in many ways becomes very similar to late 19th century.  Large robber barons of that era are similar to today's giants (except the physical violence of course) in every field - tech , insurance , manufacturing, autos.  its the name of the game - consolidation, merge

The 80s Raegan boom was aided in a large part by new areas of global economy opening up and interest rates coming down.  On both the fronts , we don't have any new room.

Tax cuts by themselves won't create wage pressures.  There has to be a real competition out there for that to happen.  Unfortunately with things like this net neutrality repeal, pendulum continues to swing in direction of the incumbents.

We are also completely ignoring the coming of automation.  In about 5 to 10 years, truck and deliver drivers will start being phased out.  Telemedicine will change medical treatment.  Banks, restaurants, and other service industries are already pushing self-service kiosks and reducing staff.  Corporations will keep getting larger because it make sense and continue to drive down labor either by getting rid of jobs or moving them overseas.

Yes, thats a new variable on top which is going to surprise many people down the road since when things like this reach critical mass the tsunami is very quick.  unlike many boomers who had a house , their best asset , to fall back on, millennials (and many gen-xers) won't have any safety net when it hits .
 
Back
Top