Don’t Believe the Democrat Attacks on Tax Reform. Here Are the Facts.

[AntonToo]

You don't know what you are saying. Tax-cut dynamic effects have little to do with ACTUAL growth, it has to do with the component of growth SPECIFICALLY ATTRIBUTABLE TO THEIR EFFECT.

It doesn't matter if actual growth is 1.9 or 3%, what matters is how much economic activity tax-cuts THEMSELF generate (in this case additional 0.8% GDP growth is projected by 2027).

I know my new math skills are lacking, but in the old school they taught us the difference between 1.88 and 2.08 is .2, not .08.

.

Again, clueless.

0.8% growth is not for year 2027, it is TOTAL, additional long-run GDP growth projected by JTC for 2018-2027.

Ok, which is it, .08 or .8, make up my mind.


.

Are you on drugs? 0.8% is the only number I used.

Adding an additional .8% year over year is significant.


.

DID I NOT JUST SAY?

0.8% growth is not for year 2027, it is TOTAL, additional long-run GDP growth projected by JTC for 2018-2027.

 

[Freewill]

As usual, DemocRATs scream how it “favors the rich” and “raises taxes on the middle class.” And, as usual, it’s nothing but bull poop! This article spells out some of the truths and is worth reading.

Regarding the middle class, Democrats fail to mention that under the new House plan, the standardized deduction would almost double from $6,350 to over $12,000 for single filers, and $12,700 to $24,000 for married couples filing jointly. That means the number of Americans who claim the standard deduction would likely go from 60 percent of all filers to 90 percent.

Critics also fail to mention that the tax credit per child would increase from $1,000 to $1,600.

Additionally, critics don’t admit that the impact of simplifying the tax code would disproportionately help lower- and middle-income taxpayers, most of whom would be able to file their taxes using a simple postcard.

More @ Don't Believe the Democrat Attacks on Tax Reform. Here Are the Facts.

Some how the left wing seems to think that tax cuts can be given to those who don't pay taxes. I don't know if that is just new math or schools have gotten so bad that all they teach is how to BS.

 

[basquebromance]

"While I still would have preferred larger cuts, this bill provides a foundation on which to continue building. Today marks a victory for giving the American people back more of their own money and reforming an archaic tax code." - Senator Rand Paul

 

[basquebromance]

I'm getting tired of this talk about how the government will lose revenue thanks to me keeping my money. Spend less, jackasses.

 

[imawhosure]

I'm getting tired of this talk about how the government will lose revenue thanks to me keeping my money. Spend less, jackasses.

The Dems nor Pubs want to cut spending. They just want to be in charge of spending it! As far as really cutting spending, the only thing they really have is entitlements, and every Democrat on here knows this. We can not grow our way out of this now, it is to late. Medicare will have to stay, but S.S. is probably going to have to go away for people under 45, and the tax drop in scale as people die and lower the drain on benefits. Not popular for sure, but only way out it appears.

 

[busybee01]

It is.
It will have zero stimulative effect on the econmy.

The fact that you think $100 extra a month would change the quality of life for anyone in the middle class is laughable.

it isn't about stimulating the economy by giving the middle class a break. the stimulation comes from the corporate tax break. hly fk you all truly get lost easily.

The fact is that you have a large number of good paying jobs that businesses cannot fill. Training people to fill those jobs would be as stimulative as tax cuts. The business tax cuts should be done by repealing tax breaks for businesses not raising taxes on the middle class and diverting that money to business tax cuts.

I'm good with that. Mike Rowe has been saying it for two years now. So why hasn't it been done? the tax bill does address lowering middle class taxes.

The tax bill is a mixed bag for the middle class. some will see their taxes go up. The rich win across the board. That does not sound like a tax cut to me. Everybody saw tax cuts under the Reagan tax plan.

how you figure the rich win? explain. and one has to define what is middle class. I've been waiting since 2015 for that one.

The rich get their tax rates cut. That will make up for the few deductions they lose. The rich do not need student loans. The pass-through provision will be a huge loophole. The rich will structure their income to take advantage of it.

The middle class are another matter. The middle class rely on student loans. That means they will lose a valuable deduction. If you are middle class and you live in the suburbs, not being able to deduct state and local taxes will lead to higher taxes.

Who is middle class depends on where you live. High tax states are high tax because they have higher incomes. Higher incomes lead to higher costs of living. That is why state and local taxes should be legitimate deductions.

If you want a middle class tax cut then there should have been a across the board tax cuts not this abomination. Bruce Bartlett who helped create the tax cuts that Reagan got through Congress has condemned this.

 

[busybee01]

What am I lying about?

DISCUSS.

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

The personal exemption is being doubled, not cut, dumbass. The rest of your post is equally wrong and idiotic.

You are the fucking idiot. If you have a family of 4, under current law, you can deduct $27,200 between the standard deduction and personal exemption. Under the Republican bill, the standard deduction will be $24,000. That means that family of four will lose $3,200 in deductions. I can see why you use a petulant child as your avatar. Your posts are child like in they are nothing but insults. Go back to school so you can learn basic math.

 

[jc456]

it isn't about stimulating the economy by giving the middle class a break. the stimulation comes from the corporate tax break. hly fk you all truly get lost easily.

The fact is that you have a large number of good paying jobs that businesses cannot fill. Training people to fill those jobs would be as stimulative as tax cuts. The business tax cuts should be done by repealing tax breaks for businesses not raising taxes on the middle class and diverting that money to business tax cuts.

I'm good with that. Mike Rowe has been saying it for two years now. So why hasn't it been done? the tax bill does address lowering middle class taxes.

The tax bill is a mixed bag for the middle class. some will see their taxes go up. The rich win across the board. That does not sound like a tax cut to me. Everybody saw tax cuts under the Reagan tax plan.

how you figure the rich win? explain. and one has to define what is middle class. I've been waiting since 2015 for that one.

The rich get their tax rates cut. That will make up for the few deductions they lose. The rich do not need student loans. The pass-through provision will be a huge loophole. The rich will structure their income to take advantage of it.

The middle class are another matter. The middle class rely on student loans. That means they will lose a valuable deduction. If you are middle class and you live in the suburbs, not being able to deduct state and local taxes will lead to higher taxes.

Who is middle class depends on where you live. High tax states are high tax because they have higher incomes. Higher incomes lead to higher costs of living. That is why state and local taxes should be legitimate deductions.

If you want a middle class tax cut then there should have been a across the board tax cuts not this abomination. Bruce Bartlett who helped create the tax cuts that Reagan got through Congress has condemned this.

How much of the taxes do middle class pay? The fact is you’re stuck between a rock and a hard place with student loans. They can’t get jobs because non are being created. The gop is addressing that. Do you feel they shouldn’t be paid back?

 

[jc456]

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

The personal exemption is being doubled, not cut, dumbass. The rest of your post is equally wrong and idiotic.

You are the fucking idiot. If you have a family of 4, under current law, you can deduct $27,200 between the standard deduction and personal exemption. Under the Republican bill, the standard deduction will be $24,000. That means that family of four will lose $3,200 in deductions. I can see why you use a petulant child as your avatar. Your posts are child like in they are nothing but insults. Go back to school so you can learn basic math.

Wrong. Way to misrepresent that. It’s called child credit

 

[BluesLegend]

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

The personal exemption is being doubled, not cut, dumbass. The rest of your post is equally wrong and idiotic.

You are the fucking idiot. If you have a family of 4, under current law, you can deduct $27,200 between the standard deduction and personal exemption. Under the Republican bill, the standard deduction will be $24,000. That means that family of four will lose $3,200 in deductions. I can see why you use a petulant child as your avatar. Your posts are child like in they are nothing but insults. Go back to school so you can learn basic math.

No math fail you need to add back the $4,000 in child tax credits for that family of 4. That's not an income deduction, that's $4,000 large in your pocket as a refund. What's the tax on $3,200 in income deductions maybe 20% or $640. Which is more money in your pocket $640 or $4,000.

 

[BluesLegend]

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

The personal exemption is being doubled, not cut, dumbass. The rest of your post is equally wrong and idiotic.

You are the fucking idiot. If you have a family of 4, under current law, you can deduct $27,200 between the standard deduction and personal exemption. Under the Republican bill, the standard deduction will be $24,000. That means that family of four will lose $3,200 in deductions. I can see why you use a petulant child as your avatar. Your posts are child like in they are nothing but insults. Go back to school so you can learn basic math.

Wrong. Way to misrepresent that. It’s called child credit

This clown flunked simple math taught in 6th grade.

 

[Rexx Taylor]

Democrats are too lazy to read any bill before passing/making judgements. If Obama writes the bill, they dont read it, just pass it,,,if Trump writes the bill, they will claim its a tax cut for the rich and all middle class americans are going to die of starvation

 

[busybee01]

What am I lying about?

DISCUSS.

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

Math fail lib please The Senate bill has 7 tax brackets, here's how they compare to the existing 7 brackets up to $470,700 in income for a couple filing jointly. The bottom gets a nice tax cut, nobody gets whacked until they hit the $290k bracket that's the one to avoid.

10% to $19050 TAX INCREASE wait for it...$40.
12% to $77400 TAX CUT $1,545
22.5% to $120,000 TAX CUT $11,260
25% to 290,000 TAX INCREASE $8,769
32.5% to 390,000 TAX CUT $19,236
35% to $470,700 TAX CUT $9,891

That means if you make a million dollars then you will save $45,000. Why should anyone see a tax increase? Why should a low income person see a tax increase of even a dollar? Those people in the $120,000-$290,000 are likely suburban voters. There is evidence in the November elections that Republicans are having trouble with suburban voters. This is why I believe Republicans will lose the House in 2018.

 

[jc456]

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

Math fail lib please The Senate bill has 7 tax brackets, here's how they compare to the existing 7 brackets up to $470,700 in income for a couple filing jointly. The bottom gets a nice tax cut, nobody gets whacked until they hit the $290k bracket that's the one to avoid.

10% to $19050 TAX INCREASE wait for it...$40.
12% to $77400 TAX CUT $1,545
22.5% to $120,000 TAX CUT $11,260
25% to 290,000 TAX INCREASE $8,769
32.5% to 390,000 TAX CUT $19,236
35% to $470,700 TAX CUT $9,891

That means if you make a million dollars then you will save $45,000. Why should anyone see a tax increase? Why should a low income person see a tax increase of even a dollar? Those people in the $120,000-$290,000 are likely suburban voters. There is evidence in the November elections that Republicans are having trouble with suburban voters. This is why I believe Republicans will lose the House in 2018.

Dude, nice work, but that’s incorrect. But why would you care?

 

[BluesLegend]

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

Math fail lib please The Senate bill has 7 tax brackets, here's how they compare to the existing 7 brackets up to $470,700 in income for a couple filing jointly. The bottom gets a nice tax cut, nobody gets whacked until they hit the $290k bracket that's the one to avoid.

10% to $19050 TAX INCREASE wait for it...$40.
12% to $77400 TAX CUT $1,545
22.5% to $120,000 TAX CUT $11,260
25% to 290,000 TAX INCREASE $8,769
32.5% to 390,000 TAX CUT $19,236
35% to $470,700 TAX CUT $9,891

That means if you make a million dollars then you will save $45,000. Why should anyone see a tax increase? Why should a low income person see a tax increase of even a dollar? Those people in the $120,000-$290,000 are likely suburban voters. There is evidence in the November elections that Republicans are having trouble with suburban voters. This is why I believe Republicans will lose the House in 2018.

You are 24 hours behind in the discussion. We are already discussing in other threads more needs to be done for low income families, even proposing to bump the corporate tax rate up to 22% and allocate the $200 billion to low income families. The negotiations on this bill are still ongoing, until reconciliation is completed and Trump signs the bill into law everything is on the table.

 

[busybee01]

I'm growing tired of the left's 40 year old 'tax cuts for the rich' talking point nonsense. If you want to have a rational discussion on this topic, which could be bipartisan and thoughtful, check your talking points at the door.

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

The personal exemption is being doubled, not cut, dumbass. The rest of your post is equally wrong and idiotic.

Actually no the personal exemption is being eliminated, the standard deduction is almost being doubled. This clown above has not accounted for the changes to the child tax credit though. Most likely because he's a ill informed liberal talking points drone.

A family of 4 can make $27,000 before they pay taxes. There is nothing wrong with the current combination of a standard deduction and a personal exemption. It creates a tax threshold that is not static and adjusts for the size of the family. The tax credit does nothing for lower income people as it is not a refundable tax credit. The Lee-Rubio Amendment would have made it refundable. That was defeated. Also the standard deduction is worth less each year as it is not indexed to inflation.

 

[busybee01]

As usual, DemocRATs scream how it “favors the rich” and “raises taxes on the middle class.” And, as usual, it’s nothing but bull poop! This article spells out some of the truths and is worth reading.

Regarding the middle class, Democrats fail to mention that under the new House plan, the standardized deduction would almost double from $6,350 to over $12,000 for single filers, and $12,700 to $24,000 for married couples filing jointly. That means the number of Americans who claim the standard deduction would likely go from 60 percent of all filers to 90 percent.

Critics also fail to mention that the tax credit per child would increase from $1,000 to $1,600.

Additionally, critics don’t admit that the impact of simplifying the tax code would disproportionately help lower- and middle-income taxpayers, most of whom would be able to file their taxes using a simple postcard.

More @ Don't Believe the Democrat Attacks on Tax Reform. Here Are the Facts.

Some how the left wing seems to think that tax cuts can be given to those who don't pay taxes. I don't know if that is just new math or schools have gotten so bad that all they teach is how to BS.

Ronald Reagan was a big supporter of the EITC. Was he left wing?

 

[busybee01]

What is "irrational" about not wanting to give those ALREADY DOING GREAT in this country yet another huge tax-cut at expense of blowing yet another hole in Federal budgets?

You are bailing on rational discussion because you know this tax-cut bill is ridiculous.

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

Math fail lib please The Senate bill has 7 tax brackets, here's how they compare to the existing 7 brackets up to $470,700 in income for a couple filing jointly. The bottom gets a nice tax cut, nobody gets whacked until they hit the $290k bracket that's the one to avoid.

10% to $19050 TAX INCREASE wait for it...$40.
12% to $77400 TAX CUT $1,545
22.5% to $120,000 TAX CUT $11,260
25% to 290,000 TAX INCREASE $8,769
32.5% to 390,000 TAX CUT $19,236
35% to $470,700 TAX CUT $9,891

That means if you make a million dollars then you will save $45,000. Why should anyone see a tax increase? Why should a low income person see a tax increase of even a dollar? Those people in the $120,000-$290,000 are likely suburban voters. There is evidence in the November elections that Republicans are having trouble with suburban voters. This is why I believe Republicans will lose the House in 2018.

Dude, nice work, but that’s incorrect. But why would you care?

You sure don't give a damn.

 

[jc456]

Christ almighty...lets discuss FACTS not talking points. This bill caps one of the biggest deductions for the 'rich' the mortgage interest deduction on homes. The vast majority of Americans are not effected by this, the rich they got screwed. Here's another the deduction for state income and sales taxes, eliminated. The poor and middle class get a pass, an increase in the standard deduction to offset this. The 'rich' again get screwed.

What you do not factor in is the loss of the personal exemption. That means if you have a family of more than 3 people then you are losing money on your deductions. Also people who have certain issues such as blindness can take 2 exemptions which means their taxes will go up. Also middle class people in the suburbs will such as Atlanta will see their taxes go up. Then we have the rate cuts which will benefit the rich.

You are the one using TALKING POINTS NOT FACTS.

Bruce Bartlett helped Jack Kemp develop what would become the Reagan tax cuts, He is opposed to the bill.
“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

Math fail lib please The Senate bill has 7 tax brackets, here's how they compare to the existing 7 brackets up to $470,700 in income for a couple filing jointly. The bottom gets a nice tax cut, nobody gets whacked until they hit the $290k bracket that's the one to avoid.

10% to $19050 TAX INCREASE wait for it...$40.
12% to $77400 TAX CUT $1,545
22.5% to $120,000 TAX CUT $11,260
25% to 290,000 TAX INCREASE $8,769
32.5% to 390,000 TAX CUT $19,236
35% to $470,700 TAX CUT $9,891

That means if you make a million dollars then you will save $45,000. Why should anyone see a tax increase? Why should a low income person see a tax increase of even a dollar? Those people in the $120,000-$290,000 are likely suburban voters. There is evidence in the November elections that Republicans are having trouble with suburban voters. This is why I believe Republicans will lose the House in 2018.

Dude, nice work, but that’s incorrect. But why would you care?

You sure don't give a damn.

About your lies? Sure I care and why I committed

 

[Freewill]

As usual, DemocRATs scream how it “favors the rich” and “raises taxes on the middle class.” And, as usual, it’s nothing but bull poop! This article spells out some of the truths and is worth reading.

Regarding the middle class, Democrats fail to mention that under the new House plan, the standardized deduction would almost double from $6,350 to over $12,000 for single filers, and $12,700 to $24,000 for married couples filing jointly. That means the number of Americans who claim the standard deduction would likely go from 60 percent of all filers to 90 percent.

Critics also fail to mention that the tax credit per child would increase from $1,000 to $1,600.

Additionally, critics don’t admit that the impact of simplifying the tax code would disproportionately help lower- and middle-income taxpayers, most of whom would be able to file their taxes using a simple postcard.

More @ Don't Believe the Democrat Attacks on Tax Reform. Here Are the Facts.

Some how the left wing seems to think that tax cuts can be given to those who don't pay taxes. I don't know if that is just new math or schools have gotten so bad that all they teach is how to BS.

Ronald Reagan was a big supporter of the EITC. Was he left wing?

NO, but what it does show is the lies that the left tells about conservatives and the right wing are nothing but lies.