The GOP Plan is the Biggest Tax INCREASE in American History, By Far

https://theintercept.com/2017/12/01...gest-tax-increase-in-american-history-by-far/

This bill gives 80% of its benefits to the top 1%. As the New York Times noted, by 2027, people making between $40,000 and $50,000 would see a combined increase of $5.3 billion in taxes. Where would that money go? Folks earning more than $1 million would see their taxes collectively cut by $5.8 billion a year.

Now, how long until the first troll post which says something along the lines of, "So you like this bill because Liberals all love tax increases?"

No. We want tax increases when it accomplishes a worthwhile goal. Concentrating wealth at the top is not a worthwhile goal.

 

80% of benefits ...as net dollars.

The DNC and liberal media are counting on you not fully understanding what that means.

Lets say you pay $100 in taxes, I pay $100,000, and we each get a 5% cut.

You're getting $5 back, and I'm getting $5,000.

Of that $5,005 in total refunded taxes you're "benefit" is ~0.1%.

...so what?

You're still getting $5 back.

The left is hoping you perceive this as some big evil thing when its nothing more than simple math.

People who pay more get more back.

 

<Mod Edit> Your example is not what the bill does. <Mod Edit>

 

Its an example of math.Tax cuts will always benefit the people with the most money so long as they're included in the cuts. Projections from 10, 15, 20 years in the future don't really interest me because the next time power changes hands Democrats will install their own tax plan.

Right now, today, a lot of people will have more money in their pocket and that's fine with me. And as for the people that don't get much out of this, well guess what? That means they don't pay taxes anyways. And for the people who will pay a little more, well guess what? They're people in high tax (/cough blue) States and that's the price they pay for electing thieves.

Corporate tax rates - Yea I know a small council of 27 businesses held a meeting and most of them said "we'll keep the money we wont invest" and so now that's the line liberal media runs with (funny how those companies are run by people that publicly supported Hillary). But so what? Is the requisite for reducing corporate taxes that they must be reinvested? No its not, profit is still legal. Will they all keep the money? No, most will invest it because that's how you grow a business.

Estate tax - Its pretty scummy of government to go in and literally steal money that has already been taxed multiple times simply because somebody died. This is specifically a punitive attack on the rich for no other reason than because its easy. How would you feel if government took half of what your parents left (will leave) you?

 

Your example does not demonstrate what is set out in the OP. A closer analogy would be:
Let's say you pay $100,000 in taxes, and I pay $100.
According to the OP, you would pay $5,000 LESS in taxes and I, plus 999 of my buddies, would all pay $4 MORE in taxes.
So:
- the richest people get a tax break
- the working man pays more
- the deficit still increases

When you look at it this way, the deficit would be increasing in order to finance a tax cut for the rich only, while at the same time raising taxes on the middle class.

 

As pointed out in the OP and by bx4, this bill increases the taxes on the lower and lower middle class. Everyone is not merely getting a 5% cut.

Instead the wealthiest 1% is getting 80% of the benefit from this tax increase. On the backs of lower and middle class.

 

Probably in response to the financial and societal crisis and national deficit created by this bill.

What is the societal benefit of the wealthiest 1% keeping more money in their pockets while the lower and middle class have more money taken from their pockets?

Also, those high tax states are a large part of the reason that low tax, low population (cough red states) continue to prosper because the large blue states contribute more federally than they withdraw.

You don't just invest more money because you have that option. It isn't the only way to grow a business. You can also grow a business by purchasing your own stock and by paying dividends to attract increased investor attention.

And you say that profits aren't illegal, but the point of passing new legislation is because you want to accomplish a societal goal. So what is the societal benefit of increased corporate stock purchases and investor dividends.

I would be happy that I was still getting several million dollars for the cost of my parents passing away.

 

After the massive layoffs the past few years I certainly welcome the corporate tax break.

 

Past few years? We just finished up the longest period of consecutive private sector job growth in US history.

 

Let me know when you have the numbers of people who were hired as a direct result of corporate tax cuts.

Because with Reagan that didn't happen. It also didnt happen with bush.

In fact, tax breaks don't create economic growth and anyone with a brain knows that's a right wing lie.

 

Just because you think you know what has happened doesn’t mean you do.

 

You mean JFK didn’t have a brain?

 

Circular logic...........

 

Looks like nothing but growth in part time low wage jobs,requiring food stamps. Cancer grows too, ya know. The growth was after a crash, which left 100 million with a future of never having a living wage job again. So, I sure as hell would not brag about this kind of growth. Unless one brags about the growth of cancer.

 

JFK was trying to get ahead of the business cycle, and see if he could avoid the inevitable lay offs. Also JFK had an economy, with manufacturing employing people, and such an economy might respond to these cuts. Didn't he cut from 90 percent to 70 for the top bracket? Wasn't corporate taxes 51 percent back then, which he didn't cut?

JFK lost much of his brain of course in Dallas.

 

Dark.

 

Lawl you've got to be kidding.

Tell me, why are my breaks temporary while Wal-Mart's are permanent?

Hypocritical bullshit.

 

No, I saw a red mist. The darkness comes from it being a conspiracy. And it is also the day america changed. The birth of distrust in one's own gov't. I have witnessed it happen.

Anyways, given our economic model, tax cuts are meaningless, for the working and middle class. Tax cuts and slave labor globalism, yield nothing for most in america. Sit back and watch. Taxes must increase in order keep the people from starving. I have never seen so many poor people in my life, here in my area. The same people who once had living wage jobs with no need for welfare. Young people here are not getting married and having children because they cannot afford to.

 

If this were a tax increase, the republicans would be voting against it, and the democrats would be voting for it.

FAKE NEWS.

 

The death tax, on money which has already been taxed, is true. And if the dead person did not give it to someone who did not earn it, there would be no tax. So ,if I earn money, and gave you a million, would you be taxed on the money that I gave you, above a certain amount? Sure. This is no different. Someone gets free money, and it should be taxed.

So, if the death tax on money given to others bothers you, hell, bury the money with the dead. Then, no new person gets it, who did not work for it, and the problem is solved.

 

Oh my more crapola from an anonymous kook blog........

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Can you come up with a real source please.

 

This is more evidence that what we have here in the US is not democracy, but oligarchy and fascism.

 

It's tremendously more complicated that that. The "death tax" can have significant implications on farmers, business owners, their families and employees.

In the end, the media and liberals in general are attempting to make a big deal out of something that involves relatively few people.

 

they will drill for oil to create high wage jobs for the uneducated, no need for manufacturing.

tax cuts and loose regulations are all that are needed for globalism to thrive, that way you can control the world and keep Americans pursuing happiness at home too.

JFK wasn't okay with that, but you have to play by the rules of the rich for they run the show.

 

Nice bipartisan job, US Senate!!..... couldn't get anybody across the aisle and lost one of your own..... Oh wait, sorry.... I had forgotten that Herr Trump had already cut Corker loose from the compound...

I predict there are a handful of R's waking up this morning with a real bad political hangover....