The Republican Tax Bill: Screw You

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Trump Maladministration

So, no surprise, the Republican tax bill rolled out yesterday would benefit the wealthy, hurt the middle class and poor, and increase the deficit. What else is new?

The New York Times has a list of deductions that would be eliminated by the tax bill. These include out-of-pocket medical expenses (a biggie for me, as I am old and poor) or losses like your house burning down. Seriously. On the other hand, embryos would be eligible for tax-advantaged 529 college savings plans.

Some business organizations are already coming out against the bill because of the loss of deductions. The National Federation of Independent Business complained that the bill favors big business and leaves out small businesses. The National Association of Home Builders is up in arms because it puts limits on deductions of mortgage payments.

And then there’s this, in which Stephen Curry is called out in the bill because Trump is feuding with him.

The bill is a nasty piece of work, and the vote on it is going to be close. As with the health care bills, if Senate Democrats hang together there’s a chance it will fail to pass. However, that may be a bigger “if” than with health care.

 

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6 Comments

6 Comments

  1. uncledad  •  Nov 3, 2017 @3:13 pm

    I saw Grover Norquist (I thought he was banned from the GOP for being married to a mooslim?) on the Tee-Vee yesterday. He had a particularly disingenuous argument that dumping the state and local tax exemptions ends the federal subsidy for irresponsible liberal states with high taxes? As with most GOP arguments it is a brilliant talking point until you look at the numbers, liberal "high tax" states pay far more in federal taxes then they get back, the low tax red states are the "welfare states". Cut taxes, increase the deficit, all Trump has left to do is start a war or two, then his resume as a republican president will be complete!

  2. bernie  •  Nov 3, 2017 @7:16 pm

    Another classic case of a $20 shoe with a $100 dollar shine. 

  3. c u n d gulag out, replace him  •  Nov 3, 2017 @8:36 pm

    This is the tax bill conservative sociopaths like Lyin' Ryan have been wanting to pass since they were children and their mommy's made them share their food or toys with another child.

    Instead of Donaldski tRUMPovich's desired title – "The Cut Cut Cut Tax Bill" – it should have been titled as "The Mine Mine Mine Tax Bill:  AKA- 'The Me and Mine Have Ours.  Now You and Yours Gotta Pull-Up Your Bootstraps and Go and Get Your Own Money, You Lazy, Worthless Slugs Who Suck Your Betters Hard-Earned Money Like Hungry Ragged Vampires,Tax Bill.'

    Of course, their corporate cronies will jack-up the price of bootstraps astronomically – all while they'll be making sure that bootstraps are not tax deductible!

    Outside of the richest of the coddled, rich and corporations, who will this deplorable tax bill leave unfucked? 

  4. csm  •  Nov 4, 2017 @10:26 am

    The benefits of the bill is targeted exclusively towards the wealthy, and the rhetoric around it is targeted towards the moronic base, as they're the only ones capable of believing the ridiculous lies the GOP is telling about this bill.

  5. Bardi  •  Nov 4, 2017 @10:46 am

    Why would anyone even consider a bill that has a personal slam in it?

  6. Doug  •  Nov 4, 2017 @11:00 am

    The moronic base is convinced tax cuts will create 100 million jobs in the US – when a cursory look at the statistics shows there is no more than 10 million unemployed if you exclude minors, senior citizens and the disabled.

    Seriously, I have had discussions where conservative idiots are sure the crush of businesses relocating to the US will throng to the tax utopia even when the stats show they would be unable to staff their business according to the predictions of the morons ( Opening a business where you can't staff your business makes it hard to earn money).

    The 'Jobs' fantasy ignores that nothing in the bill ties reduced taxes to relocating jobs in the US. Those US  corporations whose business model allows them to manufacture outside the US where wages are low and regulation lax get the tax windfall without raising a finger. They get the money – it's in their pocket – WHY will they change their model and relocate to the US for a benefit they already have?

    The final insult to reason is that  wages will double or quadruple when there is a huge demand for workers who aren't available. They believe with all their hearts that major corporations can't do the math that would show doubling wages more than wipes out any tax advantage.

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