@unrepentant progressive:"The GOP for years has raged endlessly about
how Obamacare was negotiated in secret by Democrats."The rage
was not about the secrecy of Obamacare. The rage was the fact that no
Republican voted in favor of it. And the Democrats, in committee, vetoed all...
ALL Republican amendments to the bill."And don't even get
me started on the deficit. I laugh till I cry thinking about the wailing of the
GOP over Obama era deficits."What everyone should cry about is
Obama doubling the debt... raising it more than all other presidents added
together."But magically now deficits don't matter."Democrats maintain that tax cuts will increase the deficit and debt.
What tax cuts do is stimulate the economy such that more taxes are collected."The country is in bad, terrible trouble with the current
administration and Republican control of the legislature."It
might be considered bad. But, nothing like the prior administration.
A few points re GOP tax legislation...Even though state and local
taxes are eliminated from Itemization, the standard deduction has doubled from
$12,000 to $24,000. It takes alotta itemizing the beat $24,000.The
corporate tax reduction is a good thing. In fact, corporate taxes should be
zero. The fact of the matter is... corporations don't pay taxes... any
"tax" they pay is added to the cost of goods and services they produce.
So the consumers who buys those goods and services are the eventual tax payer.
Politicians love to tax third parties so they don't upset their consultants
by a direct tax.
So much misinformation, and so little time to dispel it.The GOP for
years has raged endlessly about how Obamacare was negotiated in secret by
Democrats. Of course, the Bill authorizing Obamacare languished for almost a
year in the House and the Senate. But facts don't matter to the zealots on
the right.Now, the GOP is proposing a bill which is barely seen even
by committee members containing who knows what goodies for the already rich and
powerful. And the GOP wants it signed by the President before years end.Just what part of hypocrisy do trump supporters and those who call
themselves Republicans not plainly see.And don't even get me
started on the deficit. I laugh till I cry thinking about the wailing of the
GOP over Obama era deficits. But magically now deficits don't matter.The country is in bad, terrible trouble with the current administration
and Republican control of the legislature. I fear for our
Overall a decent tax cut for me but the loss of deductions could be a pretty
severe hit. That being said. I don't really want a tax cut that plunges us
even further in debt.
@say no to BO"Total government spending as a percentage of the GDP
just keeps growinng. THey want it; they take it."This is incorrect.
With the exception of a few years around the recession of 2008, government
spending has remained between 33-35% for the past 25 years. A simple google
will provide you factual evidence of that. Don't relay on Fox News or
Talk Radio for your facts.
Ryan and the tea party want to increase the national debt. Thought that type of
bill or budget was way beyond their red line.
@Say No to BO"No. It is undoing a redistribution scheme that unfairly
burdens most of America with liberalism."I don't understand
what you mean by this comment. The fact is, the coastal cities have
more commerce and industry and their federal taxes flow out of their states and
into the south and the poorer states in the midwest. That is a fact. Federal
taxes is a loser deal for the coasts.It is the definition of a
redistribution of wealth. Supported by Republicans.Furthermore, I
don't see why congress is discussing tax cuts at all when the deficit is so
high. It seems mighty hypocritical for the Republicans to rail the Democrats for
doing it when they are just as happy to do it themselves when they are up to
bat. The cuts on the corporate tax rate makes some sense, but only
if you couple it with raising taxes on income at the top so we don't spiral
deeper into debt.
I don't support these tax cuts. They are geared to help the 1%, while
cutting services on the middle class. Trickle down economics is a
sham. The money is getting stuck at the top while the rest of us fight over
crumbs. I want to know how much the Trump family is getting out of this deal.
Unfortunately, without his tax returns we will never really know. Great to feel this sense of confidence in our leaders, isn't it? /sarc
I’m a layperson, so can I ask someone to help me understand?
The Senate’s proposal will increase the federal deficit by $1.5 trillion
dollars at a time when the Republican majority is hanging on to power with the
promise to REDUCE the deficit.Did I understand that correctly?
Nice to see the Senate bill include items like retaining more tax brackets,
keeping the estate tax but just raising the exemption limit, and others. Should
limit State taxes rather than make no changes at all. Would still like to see a
separate Charitable Contribution deduction outside of the large increase in the
Standard Deduction. Encouraging people to donate to charity still deserves
support from the government. Must tackle Carried Interest earnings
though for Hedge Fund managers . No one is mentioning that yet.
@Impartial7Sure, the GOP does the same thing. They've all assumed
they are entitled to more of our money whenever they want it.Total
government spending as a percentage of the GDP just keeps growinng. THey want
it; they take it.Our income doesn't grow like that...which
means we are giving more of the pie to bureaucrats. Both parties.
I think it has become painfully clear just what the motivation is for
Republicans In the House and Senate for the tax bills that have been released
this week. A story from “The Hill” website published today had this
revealing statement regarding deductions for state and local taxes:“Senate GOP leaders explained that in contrast to Speaker Paul Ryan
(R-Wis.), they don't have to worry about Republican colleagues from
high-tax states such as New York, New Jersey and California, which are entirely
represented by Democrats in the upper chamber.” And then
there’s this quote posted to Market Watch” on the seventh:“Rep. Chris Collins of New York is under pressure to get a tax bill
passed, and offered a candid answer on Tuesday about who’s pushing him to
get it done. ‘My donors are basically saying, ‘Get it done or
don’t ever call me again.’”So all these taxation
proposals clearly have nothing to do with average people. It’s all about
politicians hanging onto power and pleasing their donors. I hope the
electorate comes to their senses before it’s too late.
@Say No to BO;"We're battling a mindset that politicians think
the money belongs to them, not the people."You mean like Utah
Republican leaders having a budget surplus of tens of millions, for 9 years,
yet wasting it and needing tax increases in gas, property, sales, utilities,
and a slew of "fees" etc. ? That kind of belonging to the people?
Conservatives are lecturing liberals on economics but at the bare minimum, every
report has stated this tax cut will add to the deficit. How about
cutting spending by 500 billion a year first and see where this gets republicans
in the next election.
We are battling a mindset that politicians think the money belongs to them, not
@TeachyNo. It is undoing a redistribution scheme that unfairly burdens
most of America with liberalism.
Of course we've got lefties on here whining about it. They like paying lots
of taxes and they think we should maintain a byzantine system beyond any
individual's capacity to comprehend. It's all the more apparent to me
that liberals and economics just don't mix.
This is a tax bill for the 1% on the backs of the middle class and the poor.Sorry. Not buying that the wealth is going to trickle down this time.
So wealthy states like New York and California will underwrite poorer states
like Alabama and Indiana.Isn't that also a redistribution of
If anything resembling either of these two bills becomes law, it is a statement
to the power of talk radio over the republican base who are primarily middle
class Americans. They are being told every hour on the radio that this is a
middle income tax cut and corporate tax cut that will create more jobs and
higher paying jobs, but never a word mentioned about the huge cut that wealthy
Americans will get, while maintaining all of their previous loopholes. Rush
refers to the low information voters all the time never saying that they make up
most of his radio audience. The President says he is going to get
clobbered by this bill. Well if that is the case show us your tax return and
how much more you will be paying.