Pelosi: Why Yes–Democrats Are Going To Raise Taxes If We Retake The House
My oh my the gift that keeps giving! How many idiots on the fence will vote for HIGHER taxes ESPECIALLY the working class that the dems lost in 2016? NOT MANY! These are the people the tax cuts are helping the most with bonuses and higher pay....
The fact is that the Republican tax reform needs to be reformed. It was passed in a partisan manner unlike Reagan's 1986 tax reform which was a bipartisan reform.
These are the changes I would make.
End the carried interest deduction.
End the pass-through rate.
End the special tax break for real estate trusts.
Restore deductibility for SALT.
Use the standard deduction and bring back the personal exemption, index both to inflation.
index tax brackets to the regular CPI rather than the chained CPI.
Set the business rate at 25% or find other business tax breaks to keep the lower rate.
The fact is that the working class do not see it as a windfall for them. That is why the Republican message on tax cuts is not working. Also the unemployment reports have not seen a huge uptick in workers pay. Workers are not seeing much of the windfall businesses are seeing. As a matter of fact, a number of companies who have raised pay have also laid people off. Some of that increased pay is coming from companies cutting workers.