The Republican Tax Plan Is Chaos and Suicide

[Rajoo]

This cartoon explains how the Republican tax bill makes Donald Trump richer

This cut is a change in how “pass-through” businesses are taxed. These are businesses that can bypass corporate taxes and instead pay taxes like individuals. It was designed to benefits small business owners.

But here’s the issue: The Trump Organization is a pass-through business — but it is not a small business. It owns hotels, resorts, golf courses, and much more; in fact, it’s the 48th-largest private company in the US, and brought in $9.5 billion in revenue last year. Yet the way the Trump Organization is structured makes its taxes very different than a typical corporation.

https://www.vox.com/policy-and-polit...-trump-cartoon

[Rajoo]

I simply do not understand why so many Republicans support this tax cut for the wealthy unless most of them don't pay taxes.

[icenine]

I think if the GOP is actually stupid enough to get rid of the deductions for state and local taxes for those homeowners who itemize on their income taxes it will hand back both houses to the Democrats.

Trump/GOP is trying to hurt blue states that are wealthy by hitting the middle class with such measures. They probably are thinking that no one in such as states as New York and California who own homes votes for Trump/GOP anyway.

No one in red states and the rust belt itemize and own homes? Is it that bad out there?

This is not a good thing.

[Rajoo]

Originally Posted by icenine

I think if the GOP is actually stupid enough to get rid of the deductions for state and local taxes for those homeowners who itemize on their income taxes it will hand back both houses to the Democrats.

Trump/GOP is trying to hurt blue states that are wealthy by hitting the middle class with such measures. They probably are thinking that no one in such as states as New York and California who own homes votes for Trump/GOP anyway.

No one in red states and the rust belt itemize and own homes? Is it that bad out there?

This is not a good thing.

Thanks and a very good answer Robbin and make sense.
Guess I belong in that category with two mortgages and other deductions that I need.

[icenine]

Originally Posted by Rajoo

Thanks and a very good answer Robbin and make sense.
Guess I belong in that category with two mortgages and other deductions that I need.

Something tells me it won't go through but if you can't deduct what you paid in state tax alone that is a few thousand dollars you won't be able to deduct.
Everyone pays a boatload of state taxes out here.

[Rajoo]

Treasury Secretary Steve Mnuchin says the Trump White House is "not focused" on reducing government spending, as the administration continues to push Republicans' plans to overhaul the nation's tax code.

"We are focused on regulation. We are focused on kind of the two-for-one, getting rid of two regulations for any one," Mnuchin said Sunday on CBS News' "Face the Nation."

So whatever happened to the party of fiscal responsibility? F that.

The Republican Party Is A Deficit Fraud

Let it be shouted from every mountaintop in the United States: Today's Republican Party is a federal budget deficit and national debt fraud.

GOP President Donald Trump and his House and Senate Republican allies have proposed a multi-trillion dollar tax cut that isn't needed to stimulate the U.S. economy and will increase the deficit by an average of at least $200 billion a year.

Mick Mulvaney, Trump's director of the Office of Management and Budget, who claimed to be an uber fiscal conservative when he helped found the House Freedom Caucus to force deficit reductions at every opportunity, is now demanding trillions of dollars in additional deficits and unbelievable increases in government borrowing.

So sad that their supporters are so dumb and ignorant and do not know when they are being taken for a ride over a fiscal cliff.

https://www.forbes.com/sites/stancol.../#1b385d53263d

[Oerets]

Public schools are and should be funded by all. For the general good of our country and society. I never felt the schools lacked the proper training when I and also when sons went. But now state legislature has cut funding, has implemented school vouchers and allows in transfers. These three items since taking effect have hurt the public schools. With vouchers alone transfers funding meant for public schools go to private ones. So in the end it is a self fulfilling prophecy enacted by the state legislature to gut the public schools. My guess it is do to the teachers unions not to improve education.

If parents don't want to send their children to a public school I feel they should pay for it. Most if not all of the parents I know who do it is because of religious beliefs, racial ethnic mix at public school, sports program or just plain prestige in the name.


Barney

[Rajoo]

While FOX and their allies are busy talking about Franken and Conyers while keeping Moore in hiding, here is something that they would rather not talk about.

Lowest-income Americans would take bigger hit than first thought under Senate GOP tax bill, CBO says

Now the GOP is trying to buy votes in the Senate by cozying up to the evangelicals narrowing the line between church and state. One hell of a Christmas gift to the followers of the MAGA moron.

https://www.cnbc.com/2017/11/27/sena...bo-report.html

[Rajoo]

Senate GOP tax bill hurts the poor more than originally thought, CBO finds

The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation’s poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.

Republicans are aiming to have the full Senate vote on the tax plan as early as this week, but the new CBO analysis showing large, harmful effects on the poor may complicate those plans. The CBO also said the bill would add $1.4 trillion to the deficit over the next decade, a potential problem for Republican lawmakers worried about America’s growing debt.

Party of fiscal responsibility is it or one that robs the poor?

https://www.washingtonpost.com/news/...=.035024e82924

[icenine]

Get ready for another Guilded Age.