this will cause Dems electoral headaches: House Democrats are on the verge of passing a massive tax break for high-income earners...Bernie criticizes!

[basquebromance]

the Dems just blew it

Dems agonize over tax cuts for rich: ‘Bad policy, bad politics’

Democrats worry they’re gifting Republicans a winning political message by including tax cuts for the wealthy in their signature social spending bill.

www.politico.com

 

[basquebromance]

excerpts:

“It’s intent was to penalize blue states — I’m not going to let them get away with that,” said Rep. Gregory Meeks (D-N.Y.). “I look at my homeowners in my district and how they’ve been devastated as a result of a $10,000 SALT cap, it hurts them in a very big way.”

Raising the cap on SALT deductions is clearly not top of mind for vulnerable incumbent Democrats: Both Sens. Raphael Warnock of Georgia and Mark Kelly of Arizona said in interviews they are instead squarely focused on middle-class tax relief. Yet due to the party’s minuscule majorities, almost the entire Democratic Party will have to support the social spending bill to pass it

Rep. Jared Golden (D-Maine), one of the most vulnerable House Democrats next year, blasted the SALT plan in a series of tweets Wednesday night, saying it seemed like “Republicans were in charge.”

“The fact that more people and orgs on the Democratic side aren’t up in arms about this is wild,” he wrote.

Still, the political messaging prospects makes Republicans almost giddy.

“It’s foolish … if you look at the amount of money they are going to give to rich people, it’s staggering,” said National Republican Senatorial Committee Chair Rick Scott (R-Fla.). “I’m going to make sure that in all of our states that everybody knows what [Democrats] are doing.”

Led by Sanders and Sen. Bob Menendez (D-N.J.), Senate Democrats are already moving to limit millionaires from saving thousands of dollars per year on taxes. Sanders wants to begin phasing out the relief for families who make $400,000 per year, though even that policy would still inordinately tilt relief to families making $200,000 or more

House Democrats say they are discussing the proposal with their Senate counterparts but many are not keen on Sanders’ idea. They don’t expect the current language to change before the bill leaves the House later this week. That means House Democrats running for the Senate, such as Reps. Val Demings of Florida, Conor Lamb of Pennsylvania and Tim Ryan of Ohio, may vote for a politically toxic tax proposal that could change altogether in the Senate.

Many senators see their proposal as an improvement to what the House is considering. The lower chamber's version would raise the cap on deductions from $10,000 to $80,000 and give an average of a $25,000 tax cut to a hypothetical D.C. family making $1 million a year, according to the Committee for a Responsible Budget. Most millionaires would see a tax cut under that proposal, according to the Tax Policy Center.

“I’m not worried about the perception that we’re doing too much for wealthy people. I’m worried that we may do too much for wealthy people. It’s the reality that troubles me,” said Sen. Elizabeth Warren (D-Mass.). “I’m not here to help those at the top.”

House Democrats, meanwhile, maintain they had to structure the SALT proposal the way they did because Sinema nixed their major offsets by opposing tax increases on the wealthy and businesses.

These days, Senate Finance Chair Ron Wyden (D-Ore.) says Democrats are approaching him worried about the hits they are taking from Republicans. He wants to answer that with a tax on billionaire’s assets, which so far has not gained enough support to make it into the bill.

“In the last few days you have seen Republicans saying that Democrats are being softer on millionaires than they were in 2017,” Wyden said. “They’re not saying it, you know, once. They are pounding that message.”

But other Democrats say the real problem is that some in their own party, such as liberal Rep. Alexandria Ocasio-Cortez (D-N.Y.), are outspoken against the tax relief plan, diluting the party’s message that this isn’t a tax cut for the wealthy and giving Republicans an even more potent political weapon.

 

[pknopp]

They will lose a large portion of those they really need to win. Oddly they never learn.

 

[basquebromance]

 

[Moonglow]

The bill is under negotiations right now and nothing is a garuntee.

 

[Moonglow]

During Trump the SALT was reduced so what the Dems are proposing is to allow SALT back to former levels. So we see that Trump actually increased taxes with his tax cut.

 

[Fueri]

Biden Promise: This will not add one dime to the deficit or Joe Average's costs because it will be paid for by the rich.

Actual Biden Bill: Tax cuts for the rich.

 

[pknopp]

The bill is under negotiations right now and nothing is a garuntee.

The very fact that it is even being considered is going to be a huge anchor to their chances to stay in power next year.

 

[ZZ PUPPS]

Biden Promise: This will not add one dime to the deficit or Joe Average's costs because it will be paid for by the rich.

Actual Biden Bill: Tax cuts for the rich.

"Are you gonna believe your lyin' eyes or what I tell you?"

 

[bendog]

It was never an issue for the dems until the gop did eliminate the SALT cap while they cut taxes for the predominantly rich in non high local tax blue states. (It also fukce over people in other states who earn income in several states, including those blue states). Although I don't have a dog (-: in this fight. I don't want to live in a state with high local/state taxes, nor to I make that kind of money. I'm looking for places with low taxes and legal weed to retire to. LOL

 

[Otis Mayfield]

The 3.5 trillion dollar bill was a distraction.

Joe signed the 1.5 trillion dollar bill into law Monday.

 

[LordBrownTrout]

It won't affect the cemetery vote or the truckloads of mail-ins that show up at 3am.

 

[pknopp]

The 3.5 trillion dollar bill was a distraction.

Joe signed the 1.5 trillion dollar bill into law Monday.

The 3.5 trillion dollar bill is still being negotiated.

 

[Moonglow]

It was never an issue for the dems until the gop did eliminate the SALT cap while they cut taxes for the predominantly rich in non high local tax blue states. (It also fukce over people in other states who earn income in several states, including those blue states). Although I don't have a dog (-: in this fight. I don't want to live in a state with high local/state taxes, nor to I make that kind of money. I'm looking for places with low taxes and legal weed to retire to. LOL

Say hello to Okiehoma then..

 

[LordBrownTrout]

It was never an issue for the dems until the gop did eliminate the SALT cap while they cut taxes for the predominantly rich in non high local tax blue states. (It also fukce over people in other states who earn income in several states, including those blue states). Although I don't have a dog (-: in this fight. I don't want to live in a state with high local/state taxes, nor to I make that kind of money. I'm looking for places with low taxes and legal weed to retire to. LOL

Washington seems like a good place for you. No state income tax, 8.8 percent sales tax in spokane, and you can get all doped up.

 

[LordBrownTrout]

Say hello to Okiehoma then..

They have state income tax.

 

[bendog]

Say hello to Okiehoma then..

I could do that. But I'm limited by my wife. I'm still hoping Miss does medical weed this next legis session.

 

[Moonglow]

I could do that. But I'm limited by my wife. I'm still hoping Miss does medical weed this next legis session.

Good luck, it is Mississippi.

 

[bendog]

They have state income tax.

NV is the place, but my wife doesn't like it. )-:

 

[Moonglow]

They have state income tax.

Oh dear God NO!!!!!!!!! There is not one state in the union that doesn't tax people in some form or another.