Excellent image of a pertinent disaster in our midst, Mr. Campbell. Congress is pressuring the few holdouts and trying to rewrite into the paperwork each of their specific concerns before today’s vote to pass this bill. It’s amazing, 500 some odd pages that were written in secrecy behind closed doors are being rushed through Congress without any true consideration or debate. Usually, a bill of this magnitude would take a couple of years to go through several committees and a great deal of debate on the floor of Congress and conversation about the consequences and deficits incurred, but not this time because they’ve promised their donators a big Christmas present! Zero taxes for the rich! Mnunin from treasury Department has not even handed in his department’s analysis of this bill yet. I’m deeply disappointed that Senator McCain says he’ll vote Yes, I was hoping for better from him. It would only take two senators to vote no to stall this bill now, I don’t know if we can help for that.
And John McCain says he’ll vote FOR the tax bill. The one that will negatively impact access to Medicare and Medicaid for millions of people. So much for his cancer scare giving him a conscience.
he de-facto current effective tax rate is 18.6% (with loopholes). Does raising it to 20% without loopholes make sense?
https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world (look at 2nd graph for effective tax rate)
Our near zero interest rates make it near impossible to make business loans. Without loopholes there is no way to encourage good behavior.
CEOs have openly stated that they will use tax breaks to pay down debt, buy back stock, initiate mergers and automate more – this will decrease the number of job opportunities. Eliminating the estate tax and AMT will greatly increase the debt and deficit while only benefiting the wealthiest. Teachers wouldn’t be able to deduct for the school supplies they buy for students, but companies can deduct office supplies and a corporate plane. Other deductions to be eliminated – medical expenses, student loan interest, and state/property taxes (aimed at blue states).
Charliegirl Premium Member over 6 years ago
But….but…..HE said we’re getting a big beautiful tax break for Christmas!
Radish the wordsmith over 6 years ago
Republicans want to jam this unseen horror down the throat of the American Tax Payer.
braindead Premium Member over 6 years ago
Haven’t seen ANY Trump Disciples claiming that this tax ‘reform’ is good for anyone but the already rich.
.
Here and there some Hatred Of Obama and Hillary, but really nothing. Not even the normal Pee-Wee Herman stuff.
I wish some Trump Disciple would explain how this demonstrates how Trump is ‘on our side’, and how Great America is going to be if it passes.
Oh, and how it won’t add anything to the deficit.
Sadandconfused9 over 6 years ago
Excellent image of a pertinent disaster in our midst, Mr. Campbell. Congress is pressuring the few holdouts and trying to rewrite into the paperwork each of their specific concerns before today’s vote to pass this bill. It’s amazing, 500 some odd pages that were written in secrecy behind closed doors are being rushed through Congress without any true consideration or debate. Usually, a bill of this magnitude would take a couple of years to go through several committees and a great deal of debate on the floor of Congress and conversation about the consequences and deficits incurred, but not this time because they’ve promised their donators a big Christmas present! Zero taxes for the rich! Mnunin from treasury Department has not even handed in his department’s analysis of this bill yet. I’m deeply disappointed that Senator McCain says he’ll vote Yes, I was hoping for better from him. It would only take two senators to vote no to stall this bill now, I don’t know if we can help for that.
Strawberry Hellcat: Gair I gall, ffon I’r anghall over 6 years ago
And John McCain says he’ll vote FOR the tax bill. The one that will negatively impact access to Medicare and Medicaid for millions of people. So much for his cancer scare giving him a conscience.
Mr. Blawt over 6 years ago
The GOP keeps telling their minions those spikes will actually strengthen the bubble. No worries, once it pops they’ll blame a liberal anyway.
superposition over 6 years ago
he de-facto current effective tax rate is 18.6% (with loopholes). Does raising it to 20% without loopholes make sense?
https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world (look at 2nd graph for effective tax rate)
Our near zero interest rates make it near impossible to make business loans. Without loopholes there is no way to encourage good behavior.
Nantucket Premium Member over 6 years ago
CEOs have openly stated that they will use tax breaks to pay down debt, buy back stock, initiate mergers and automate more – this will decrease the number of job opportunities. Eliminating the estate tax and AMT will greatly increase the debt and deficit while only benefiting the wealthiest. Teachers wouldn’t be able to deduct for the school supplies they buy for students, but companies can deduct office supplies and a corporate plane. Other deductions to be eliminated – medical expenses, student loan interest, and state/property taxes (aimed at blue states).
Radish the wordsmith over 6 years ago
Nothing ever trickles down.