I think it's difficult for anyone handicapped by the blinders of extreme partisanship to view things objectively. The tax code is one of the most complex and frustrating set of rules and calculations citizens have to face every year. It's ridiculous to think someone trying to sell a headline has got the full measure of anything that has been agreed to.
They are trying to hold on to the House and the Senate and so party became before what they actually claim to believe in.
All you need to know about this bill is this: There was an amendment proposed last night to make the MIddle Class tax cuts permenant, like the ones for the top 1%. That amendment was voted down by every republican. So who again benefits from this tax “cut” ?
Now that the tax cuts are almost certain to be on the books, the drumbeat for entitlement cuts is already starting, as predicted. That's where the real meat is for the GOP. Privatize SS, so the financiers get an even bigger cut while the average retiree becomes destitute. The goal of money buying legislation will finally be achieved.
Yeah, why not privatize Social Security? Return on investment would be 10 times higher. I had a friend who passed away recently. Do you know how much he got for all his social security contributions? $0.00. How many people never even collect the funds they contributed to Social Security? At least with an IRA or 401K the family would get the money. The way it's set up currently, Social Security is a Ponzi scheme. Also, we need to end welfare. So many people become dependent on it and never get jobs. It's time to make them support themselves instead of asking the working man to pay their rent and food.
Well, the GOP tax bill, aka The Wealthy Donor Payoff Bill, has passed in the Senate. It is a pig of a bill and conference between the House & Senate should be fun. Many Americans were already opposed to this pig, I can't wait until next year when the vast bulk of the population has been scammed by Trump and the Republicans. Good for Corker, the one Republican who stood up for Republican values. The Democrats will have a field day with this pig of a bill next year. What a joke........
We make US companies more competitive and that alone benefits ALL. Any reduction in pass thru tax rates benefits small businesses (that even large companies use rather than traditional type C incorporation and it benefits all.) Jobs are created when business prospers. I know you don't want to understand the concept but it does work and it works for all.
All due respect All due respect MrLucky, but thats just not true. If it were True, why doesn’t Apple have thousands more employees ? Why do they still build their iPhones in sweatshops for the lowest possible costs ?
It is, because the breaks for the bottom 90% expire. The right had an opportunity last night to make them permanent, and every republican voted that amendment down. Now at least we know what they are doing. And please understand WHY they voted that down. To pass this break, they have rules about how much it will add to the deficit, the debt, etc. They voted it down because the increased taxes, and removal of breaks for the bottom 90% are what pay for the breaks at the top. This was nothing but a huge shift in the tax burden to the middle class and the poor.
It IS. There are temporary tax breaks for the middle class and the poor. And when those expire, in reality they just go back to what they were, and that should even out right ? BUt the real problem is the removal of deductions and breaks that the middle class and poor use. Those changes are permanent. So in 8 years when the rates go back up, those deductions stay. THAT is a tax increase. Don’t worry, by then their will be a dem majority, and the right will blame them for “increasing taxes on the working man”
Wrong. All you are doing is echoing the spin the left is putting on it. BTW, I understand the WHY part. A few holdouts pushed for the expiration because of the projections. And please understand NOT everyone is required to buy the rich/poor memes.
What left wing spin ? Are the rates cuts temporary for individuals ? Are the removal af the deductions and breaks for individuals permanent ?
So the government screws the American people once again but yet benefits corporations and well-to-do upper class citizens. I suspect this will come back to haunt the republicans in 2018.
It would appear the reductions will need to be voted on again in the future. You think they won't be approved? Are the removal of some deductions offset by reductions in tax liability in others? If there wasn't a reduction, why would the projections be claiming the deficit will increase?
Well, let's call that goup "A". If the next layer down of companies chooses to use the improved international competitive position of US companies, and not just in foreign markets, but right here in America, to expand their operations, let's call that group "B". Investors will have a choice to make, A or B.
Beat me to it. The hawks will soon return to the nest. What's perplexing, Rubio claims they will cut SSI and medicare. Baloney. Sometimes I wonder what planet that guy lives on? He's an untrustworthy RINO, and proves it again. .
The reality is that the Trump tax cuts will mostly help big corporations rather than small business and taxes on big corporations have been falling for a while and their profits have been skyrocketing but median wages have been stagnant while incomes for the rich have skyrocketed and the rich have taken most of the economic growth which has been slowing. The reason incomes for the middle class don't rise is because big corporations are already doing good, and they can still get workers if they don't raise wages, and will only do so if they have a hard time getting workers, so most of the money from these tax cuts ends up going to the top. Another factor is that there is a limit to how much tax cuts will help these corporations expand because if consumers aren't any richer then it doesn't matter how much more money these companies have its going to be harder to expand if there isn't any demand. If you give the middle class tax cuts then they have more money to spend and can increase revenues for companies. This is a more fair tax cut that helps the middle class and businesses.
Many large type C corporations and some Type S corporations are publicly owned and traded. LLC's, partnerships and even sole proprietors employ people. If large companies become more competitive they grow. When companies grow, they hire more people and tend to pay higher wages as well. We still have a progressive tax system in the US. Those earning more pay a higher percentage of tax than low or middle class. If you live in a state that squeezes you with regulatory and social program taxes that the Federal government doesn't, you will generally earn more than in states with low or no state and local taxes. Explain how more spending and increasing taxes which is what democrats typically do benefits anyone? How does increasing taxes or doing nothing make us competitive with countries we trade with?
Let's see how it plays out. If it doesn't help, we can make changes. Either way, progressives be like -
I was just thinking the same thing. Exodus of our jobs to other nations hasn't helped and maybe this will. Automation is another concern but that's not something tax policy can address.
No, that policy benefits the companies and their shareholders. what is the new incentive for the companies to distribute their increased wealth beyond shareholders?
All GOP's accomplishments will receive negative reaction from democrats. That is a given. Media is a propaganda arm of the far left so expect negative commentary from most media sources. In other words, if it looks and smells like garbage, it probably is.
