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Igel

(37,564 posts)

13. But this doesn't.

Sat Dec 16, 2017, 01:47 PM

Dec 2017

Currently alimony payer deducts the alimony payment and the recipient declares it and pays taxes on it.

Under the new scheme, the alimony payer cannot deduct the payment and pays taxes on it while the recipient gets it tax free.

No double payment.

Currently the problem is that more than $10 billion's deducted but less than $8 billion's claimed by recipients. In other words, over $2 billion isn't claimed as income and therefore over $2 billion in income isn't taxed.

This moves the taxation to where it's harder to hide the income. It will raise taxes because the payers typically are in higher tax brackets than the recipients; and because more like the entire amount paid in alimony will have taxes paid on it, not just around 80% of it.

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Alimony will now be taxed under GOP bill [View all] TomCADem Dec 2017 OP

By hook or by crook the gop will take from the mdl class to sweeten the pot for senators on the take Fullduplexxx Dec 2017 #1

My god...the fucking Republicans thought of everything. nt DURHAM D Dec 2017 #2

Rich republican men Corgigal Dec 2017 #42

Isn't it ALWAYS Republicans bitching about "taxing the same dollar twice"?? Bengus81 Dec 2017 #3

But this doesn't. Igel Dec 2017 #13

I never said double payment,I said double taxation........... Bengus81 Dec 2017 #21

Not sure that's correct... llmart Dec 2017 #39

Business Insider agrees - payer won't get a deduction, and payee won't pay tax progree Dec 2017 #44

This makes more sense DeminPennswoods Dec 2017 #60

I wonder what hillary thinks when she see's trump taking a hatchet to the mdl class Fullduplexxx Dec 2017 #4

So, this is working class populism? TomCADem Dec 2017 #6

His rhetoric is but is actions are not however his zealots listen only to his words Fullduplexxx Dec 2017 #7

They really are going to nickle and dime the country to pay for their Afromania Dec 2017 #5

This is religious oppression and social conservative Hortensis Dec 2017 #36

Lost Deductions Horizens Dec 2017 #8

They started by eliminating ALL (itemized) deductions BumRushDaShow Dec 2017 #12

If you're old enough... llmart Dec 2017 #40

Oh I remember BumRushDaShow Dec 2017 #46

Correct... llmart Dec 2017 #48

LOL BumRushDaShow Dec 2017 #61

They really aren't taxing the same money twice, because the recieving spouse won't have Hoyt Dec 2017 #9

Where did you read that? Bengus81 Dec 2017 #20

Go read up on the taxation of alimony. Right now, and for decades, the paying spouse could agree Hoyt Dec 2017 #23

Great,but not mentioned in the link in the article from CNN money.... Bengus81 Dec 2017 #24

They aren't and never have double taxed alimony. Heck, I bet 90% of the folks that wrote this bill Hoyt Dec 2017 #27

It May Mitigate the Impact if the Spouse is Not Taxed, But... TomCADem Dec 2017 #34

Tax and spend republicans. n/t area51 Dec 2017 #10

People should be allowed to incorporate before they get married, then just have the corporations tie ToxMarz Dec 2017 #11

GOP always complains about money being "taxed twice". louis-t Dec 2017 #14

It won't be taxed twice, it will not be included as income to the recipient. Hoyt Dec 2017 #28

Let's see if I've got this right..... Revision 1 (thanks Hoyt, Business Insider) progree Dec 2017 #15

whew, the last part of that relieves me...our friend was worried that the alimony he CTyankee Dec 2017 #16

it seems to me barbtries Dec 2017 #17

Double taxation without representation truthisfreedom Dec 2017 #18

Double-taxation is a favorite Republican dirty trick. State income taxes no longer deductible either CousinIT Dec 2017 #19

Yep and Republicans BITCH about double taxation 24/7. POT meet KETTLE.... Bengus81 Dec 2017 #22

So now there into fucking marriage counseling turbinetree Dec 2017 #25

Maybe this will piss off the he man wimmin haters... RhodeIslandOne Dec 2017 #26

LOL llmart Dec 2017 #41

No double taxation, please, anywhere in the system. . . nt Bernardo de La Paz Dec 2017 #29

Headline is backwards Cicada Dec 2017 #30

Glad I wasn't the only one who picked up on that. llmart Dec 2017 #43

I have a funny alimony story Cicada Dec 2017 #45

LOL llmart Dec 2017 #47

Judges will also be less willing to award alimony MaryMagdaline Dec 2017 #51

In all fairness, why should alimony be deductible? brooklynite Dec 2017 #31

It has been deductible because receiving spouse usually had to pay taxes on it. Now, it won't be Hoyt Dec 2017 #35

Oh, so this is MurrayDelph Dec 2017 #32

It's always about money, honey... homegirl Dec 2017 #33

My understanding is that, now, alimony won't be taxable to the recipient. David__77 Dec 2017 #37

They would tax each dollar ten times if they could.nm Ferrets are Cool Dec 2017 #38

I suspect Melania had a hand in this.... Rollo Dec 2017 #49

Different title in the original CNN version: "Alimony payers lose tax deduction..." progree Dec 2017 #50

Do you really trust the GOP? jmowreader Dec 2017 #52

There's no tax burden on the payor in the bill progree Dec 2017 #55

Let's try this again jmowreader Dec 2017 #57

That's not what's in the tax bill, which is what I thought we were discussing. progree Dec 2017 #58

But it already taxed as income the first time, right? Drahthaardogs Dec 2017 #53

The net result in most divorce cases going forward: mn9driver Dec 2017 #54

This is it exactly. It is just a way for the Rs to skim a little more money from OhioBlue Dec 2017 #59

Well on the one hand you'd think they'd wanna Kimchijeon Dec 2017 #56