New GOP tax plan is terrible

[John6185]

I don't belive anything the Democrats say, I haven't the slightest idea of what's in the tax bill but it'll be changed several times before printing. They don't care what I think, they only want my vote. So I'll wait and see what happens. If the middle class has to pay more, Trump will definitely lose a lot of his base.

 

[SMS]

I don’t have to believe what the Dems say. I took the numbers directly from the Republican “plan” and punched it in using last year’s income and this year’s projected income.

Result? From Neutral last year to a small increase in taxes based on this year’s projected income. That’s not a “middle class tax cut” in my world.

Ryan and his ilk have been playing the base for fools for a long time. They’ve been getting away with it so much that they aren’t even really trying to hide it anymore. They just have to call it a middle class tax cut plan and hoards of lemmings will fall for it.

 

[Shadowrider]

RUSH: I’ve had more time to look into this and there are parts of this thing, folks, that are so frustrating. It’s just so damn frustrating. It’s just out-of-my-mind frustrating. We run the House, we run the Senate, we have the White House — and, still, it’s like we have a bunch of Republicans who don’t even have the courage to be conservative. They’ve lost their conservative ideals, ’cause they’re playing the same old game that the Democrats love to play: Class envy. They’re making a big deal out of taxing the rich; they’re holding on to the children’s health program.

BREAK TRANSCRIPT

RUSH: Look, I say it’s not the money, but, you know, it is. Philosophically, it’s the money. You know, all of this is being done for $50 billion? The government cannot do with $50 billion less. Meanwhile, the Republican tax reform is going to expand the refunds to people that don’t even pay taxes. You heard me right! The Republican tax plan will increase the amount of money in the form of a refund that people that don’t even pay taxes are gonna get, and I’ll tell you why it’s infuriating. All of this seems to be a suck-up to the Democrats, or else our guys don’t really believe in their own ideas in the end.

Now, look, I know Trump is a factor here too. Trump is out there saying, “People like me don’t deserve tax cuts. I’m not gonna…” And I ran through the polling data with you on what the majority of Americans think, that the rich aren’t paying enough, and I get all that. But this isn’t conservatism, and we won the election. This is not conservatism. This is not the way conservatives think. This is not a tax plan that’s gonna promote growth in the private sector, the economy. Businesses are gonna make out okay. The corporate tax rate’s good. This is halfway good, but this is just a disappointment!

https://www.rushlimbaugh.com/daily/...-suck-up-to-democrat-class-warfare-economics/

 

[C_Hallbert]

I don’t believe what the Dumbocrsts say, .......and I’m starting to believe that Ryan is among them.


Sent from my iPhone using Tapatalk

 

[donner]

i haven't dived in to this matter in too much depth, but the first few things that concern me are 1) the elimination of the adoption tax credit and 2) taxing graduate student's tuition waivers.

The second one is because it'd make it far costlier to get advanced degrees, especially in STEM fields (where we really need to stay ahead). The first matter is more personal. Adoption, as it currently exists in this country, can be very expensive. While the tax credit doesn't really recoup nearly the cost of an adoption (at least in our case), it does soften the blow a bit.

 

[Dave70968]

i haven't dived in to this matter in too much depth, but the first few things that concern me are 1) the elimination of the adoption tax credit and 2) taxing graduate student's tuition waivers.

The second one is because it'd make it far costlier to get advanced degrees, especially in STEM fields (where we really need to stay ahead). The first matter is more personal. Adoption, as it currently exists in this country, can be very expensive. While the tax credit doesn't really recoup nearly the cost of an adoption (at least in our case), it does soften the blow a bit.

OTOH, it doubles the child deduction, and that's a permanent change, not a one-time credit. No, it doesn't give a special incentive to adopt, but the net benefit is greater.

 

[Cinaet]

It's like the Chinese crap sold by Walmart et al. It looks good enough to get off the shelf but it's gonna screw you in the end.

 

[Dave70968]

http://reason.com/blog/2017/11/05/nfl-prepares-to-fight-tax-reform-bill-th

The tax reform bill unveiled this week by House Republicans would do away with the federal tax exemption for municipal bonds, commonly claimed by states and cities to subsidize the construction of stadiums.

The National Football League is gearing up big time to lobby against it, The Wall Street Journal reported this week.

RTWT.

 

[Frederick]

I think cutting corporate taxes make sense, but we should also eliminate corporate deductions and handouts. We also need to reform social programs. Raise the retirement age 2 years and give block grants to the states for Medicaid. Cut military spending to 2% of GDP and invest several trillion in our infrastructure. Socialized health insurance would actually cut our deficit by billions. More road tolls, higher taxes on gas could help fund the infrastructure spending. Increase social security taxes by 10%.

The biggest spending is Medicaid and Medicare. We should have work requirements and offer vocational training.

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[davek]

How about eliminating the Social Security tax cap while you're at it?