Going After Crumbs: Dems Push to Repeal Tax Cuts and Increase Taxes

[The Derp]

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

This tax cut exploded the deficit to $1T again - I thought you people hated trillion-dollar deficits...what gives?

Because the tax cut spikes the deficit to $1T again, that forces automatic cuts to Medicare and Medicaid, which will start in January 2019. So everyone who uses one or both of those programs will see costs go up more than the amount they got in any tax cut.

100% of businesses got a tax cut, yet less than 3% of workers saw any kind of nominal benefit. According to NPR, only 6% of the tax cut went to workers while 58% went to dividends and shareholders.

Because you removed the individual mandate, health insurance premiums increased by an additional 10%, which negates any net increase to after-tax pay that this stupid tax cut may have provided to some, but not all, workers.

Most workers haven't seen or acknowledged a net increase in their take-home pay and the introduction of these tariffs will further negate any increase that may have appeared.

 

[The Derp]

We are ones that will have extra money once the tax cuts kick in.

The tax cut has already "kicked in" (it went into effect in February...it is now March).

So at this point, if you're saying "will" then you're not up to speed on the tax cut and are just talking out of your ass.

 

[The Derp]

We now live in opposite world. The Dems want to actually pay for something and not add it to the debt and the Repub are fighting to not pay for them and just increase the debt even more.

This is how it's always been, though. This isn't opposite world; this is the reality of the last 40 years. Democrats are "tax and spend", which naturally results in lower deficits and why Democratic Presidents always leave smaller deficits than the ones they inherit from Conservative Presidents...Conservatives are just spend, and always leave deficits higher than those they inherited from Democratic Presidents.

That's been the case the last 38 years.

 

[Weatherman2020]

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

This tax cut exploded the deficit to $1T again - I thought you people hated trillion-dollar deficits...what gives?

Because the tax cut spikes the deficit to $1T again, that forces automatic cuts to Medicare and Medicaid, which will start in January 2019. So everyone who uses one or both of those programs will see costs go up more than the amount they got in any tax cut.

100% of businesses got a tax cut, yet less than 3% of workers saw any kind of nominal benefit. According to NPR, only 6% of the tax cut went to workers while 58% went to dividends and shareholders.

Because you removed the individual mandate, health insurance premiums increased by an additional 10%, which negates any net increase to after-tax pay that this stupid tax cut may have provided to some, but not all, workers.

Most workers haven't seen or acknowledged a net increase in their take-home pay and the introduction of these tariffs will further negate any increase that may have appeared.

You're right.
Time to end all spending for Planned Parenthood, NPR, PBS, National Endowment of Arts and lay off half of all Federal employees and eliminate all retirement packages. They can put money in a 401K like normal Americans.

 

[Harpy Eagle]

just clear ignorance of the left. amazing

I know right. Who in their right mind would want to pay for something now when you can just pass of off to our kids and grandkids


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[jc456]

just clear ignorance of the left. amazing

I know right. Who in their right mind would want to pay for something now when you can just pass of off to our kids and grandkids


Sent from my iPhone using USMessageBoard.com

all that takes is to stop spending. not increase taxes. it is quite simple. you should read up on how households do that.

 

[The Derp]

Time to end all spending for Planned Parenthood, NPR, PBS, National Endowment of Arts and lay off half of all Federal employees and eliminate all retirement packages. They can put money in a 401K like normal Americans.

Even if you cut all discretionary spending, you're still coming in with deficits higher than what Obama left behind. And on top of that, you're creating a recession because you removed the demand created by government spending and didn't replace it with anything. So you contract the economy.

That's why Conservative policy always fails; you don't know math.

 

[The Derp]

They can put money in a 401K like normal Americans.

Less than half of Americans have a 401k, and of the ones who do, the average amount saved in a 401k for a 54-65 year old is merely $70K.

 

[The Derp]

all that takes is to stop spending.

OK, let's do some math;

The deficit thanks to the tax cut is $1T, it was $500B when Obama left office.

The budget Trump submitted was $4T.

About 65% of the budget is Medicare/Medicaid, Social Security, and interest on the debt. That's $2.6T of the $4T budget.

About 25% of the budget is Defense spending. That's $1T of the $4T budget.

So mandatory spending programs make up about $3.6T of the $4T budget.

Even if you cut all remaining spending, you're still left with a $600B deficit, which was higher than Obama's last deficit. And if you cut all discretionary spending and didn't make up for that drop in demand, then you've contracted the economy.

So it's not a spending issue; it's a revenue issue. You wouldn't go tell your boss to cut your salary because you have a mortgage, do you?

 

[Harpy Eagle]

just clear ignorance of the left. amazing

I know right. Who in their right mind would want to pay for something now when you can just pass of off to our kids and grandkids


Sent from my iPhone using USMessageBoard.com

all that takes is to stop spending. not increase taxes. it is quite simple. you should read up on how households do that.

That is a very nice wet dream, but nobody who is in charge of the country’s finances is willing to cut spending, they all want to spend even more.


Sent from my iPhone using USMessageBoard.com

 

[imawhosure]

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

The Democrats are partially right. The problem is that in addition to the top tax rate being cut from 39.6 to 37%, The rate should be left alone However loopholes should be cut out. The carried interest deduction should be ended. The pass through rate should be ended. The rich have already figured out how to exploit it.

The business tax rate should be raised to 25%. That is the rate that Ryan said he could get it down to without getting rid of more deductions. That money should be used to reinstitute full deductibility of state and local taxes.

The difference is that the proceeds should be used to pay down the deficit which will likely hit $1 trillion.

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

This tax cut exploded the deficit to $1T again - I thought you people hated trillion-dollar deficits...what gives?

Because the tax cut spikes the deficit to $1T again, that forces automatic cuts to Medicare and Medicaid, which will start in January 2019. So everyone who uses one or both of those programs will see costs go up more than the amount they got in any tax cut.

100% of businesses got a tax cut, yet less than 3% of workers saw any kind of nominal benefit. According to NPR, only 6% of the tax cut went to workers while 58% went to dividends and shareholders.

Because you removed the individual mandate, health insurance premiums increased by an additional 10%, which negates any net increase to after-tax pay that this stupid tax cut may have provided to some, but not all, workers.

Most workers haven't seen or acknowledged a net increase in their take-home pay and the introduction of these tariffs will further negate any increase that may have appeared.

just clear ignorance of the left. amazing

I know right. Who in their right mind would want to pay for something now when you can just pass of off to our kids and grandkids


Sent from my iPhone using USMessageBoard.com

all that takes is to stop spending. not increase taxes. it is quite simple. you should read up on how households do that.

Hey wait, I know------->report says that illegal immigration costs the American citizen about 500 billion dollars a year. Why aren't the Democrats for getting rid of that, and stopping more of them from coming in!

Soooooooo, lets EVERYONE get this straight-------->Leftist, Socialist, open border liberals, want YOU.......the American citizen, to finance illegals, but they don't want you to keep a nickel more of YOUR own money. What they are saying to you is-----------> we would rather give YOUR money to illegals, then let you keep it!

And this is their platform, although they try and dress it up in Leftist propaganda? Notice, the head Leftists on here point to Medicare. Why do you think that is? Did you hear ANY of them mention to create the formation of Obamacare, the left had to transfer 750 BILLION from Medicare for seed money? Of course not, lol. They are Socialists, but they are not dumb.

Don't let them get away with it fellas, HAMMER their asses!

 

[jc456]

just clear ignorance of the left. amazing

I know right. Who in their right mind would want to pay for something now when you can just pass of off to our kids and grandkids


Sent from my iPhone using USMessageBoard.com

all that takes is to stop spending. not increase taxes. it is quite simple. you should read up on how households do that.

That is a very nice wet dream, but nobody who is in charge of the country’s finances is willing to cut spending, they all want to spend even more.


Sent from my iPhone using USMessageBoard.com

well you can't take in enough money to reach your wet dream.

 

[jc456]

this is just more evidence the left hates middle america.

 

[The Derp]

That is a very nice wet dream, but nobody who is in charge of the country’s finances is willing to cut spending, they all want to spend even more.

What spending to cut?

The Trump budget is $4T.
The Trump deficit is $1T.

Medicare, Medicaid, Social Security, and interest on the debt is about 65% of the budget, which is about $2.6T.
Defense spending is about 25% of the budget, which is about $1T.
So that leaves about 10% of the budget, or $400B, for all discretionary spending.

Even if you cut all discretionary spending, you're still running a $600B deficit and you've contracted the economy, creating a recession, because you didn't make up for the loss of demand from government spending.

The deficit Obama left behind was $500B...your plan would result in a larger deficit.

So the issue isn't spending, the issue is revenue. You deliberately cut revenue which manufactured deficits which you then complain about and use as an excuse to cut spending you are ideologically opposed to, but lack the courage, will, and support to repeal through legislation. So instead you practice fiscal terrorism; which is where you fly planes of tax cuts into the budget, then posture at the fallout in order to cut spending that harms those you've judged through your sanctimonious, ideological prism. That's terrorism.

 

[Harpy Eagle]

this is just more evidence the left hates middle america.

Just more evidence the right hates our children and grandchildren


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[jc456]

this is just more evidence the left hates middle america.

Just more evidence the right hates our children and grandchildren


Sent from my iPhone using USMessageBoard.com

no explanation eh? how exactly? they claimed that when I was a kid. LOL.

 

[Harpy Eagle]

this is just more evidence the left hates middle america.

Just more evidence the right hates our children and grandchildren


Sent from my iPhone using USMessageBoard.com

no explanation eh? how exactly? they claimed that when I was a kid. LOL.

And they passed the debt on to you and now you are saying “fuck that, keep passing it on, let our kids and grandkids figure it out”.

How self centered of you


Sent from my iPhone using USMessageBoard.com

 

[Harpy Eagle]

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

This tax cut exploded the deficit to $1T again - I thought you people hated trillion-dollar deficits...what gives?

Because the tax cut spikes the deficit to $1T again, that forces automatic cuts to Medicare and Medicaid, which will start in January 2019. So everyone who uses one or both of those programs will see costs go up more than the amount they got in any tax cut.

100% of businesses got a tax cut, yet less than 3% of workers saw any kind of nominal benefit. According to NPR, only 6% of the tax cut went to workers while 58% went to dividends and shareholders.

Because you removed the individual mandate, health insurance premiums increased by an additional 10%, which negates any net increase to after-tax pay that this stupid tax cut may have provided to some, but not all, workers.

Most workers haven't seen or acknowledged a net increase in their take-home pay and the introduction of these tariffs will further negate any increase that may have appeared.

You're right.
Time to end all spending for Planned Parenthood, NPR, PBS, National Endowment of Arts and lay off half of all Federal employees and eliminate all retirement packages. They can put money in a 401K like normal Americans.

When you say half the Federal employees, that of course includes the military. They are Fed employees after all


Sent from my iPhone using USMessageBoard.com

 

[jc456]

this is just more evidence the left hates middle america.

Just more evidence the right hates our children and grandchildren


Sent from my iPhone using USMessageBoard.com

no explanation eh? how exactly? they claimed that when I was a kid. LOL.

And they passed the debt on to you and now you are saying “fuck that, keep passing it on, let our kids and grandkids figure it out”.

How self centered of you


Sent from my iPhone using USMessageBoard.com

I wanted to see social security stopped. people like the left complained and used it to stop the progress. One has to be willing to make changes, until that happens, you can have everyone's money and it won't balance the sheets. so, what is it you want exactly?

 

[jc456]

Shocking news, I know.

On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.

The GOP law passed in December in a totally partisan vote; no Democrat voted for it.

As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.”

Senate Minority Leader Chuck Schumer (D-NY), indicated that the Democrats plan to use the tax plan as a cudgel against the GOP in the 2018 elections, gloating, “The contrast between tax cuts for the wealthiest people as opposed to middle-class jobs is one that we will forcefully advocate in the fall.”

THEY'RE AFTER YOUR MONEY AGAIN: Democrats Want To Repeal Parts Of Tax Bill, Raise Taxes

This tax cut exploded the deficit to $1T again - I thought you people hated trillion-dollar deficits...what gives?

Because the tax cut spikes the deficit to $1T again, that forces automatic cuts to Medicare and Medicaid, which will start in January 2019. So everyone who uses one or both of those programs will see costs go up more than the amount they got in any tax cut.

100% of businesses got a tax cut, yet less than 3% of workers saw any kind of nominal benefit. According to NPR, only 6% of the tax cut went to workers while 58% went to dividends and shareholders.

Because you removed the individual mandate, health insurance premiums increased by an additional 10%, which negates any net increase to after-tax pay that this stupid tax cut may have provided to some, but not all, workers.

Most workers haven't seen or acknowledged a net increase in their take-home pay and the introduction of these tariffs will further negate any increase that may have appeared.

You're right.
Time to end all spending for Planned Parenthood, NPR, PBS, National Endowment of Arts and lay off half of all Federal employees and eliminate all retirement packages. They can put money in a 401K like normal Americans.

When you say half the Federal employees, that of course includes the military. They are Fed employees after all


Sent from my iPhone using USMessageBoard.com

why would we shrink our military, when the likes of you wish to take our country?