good the you should believe the rest of it also....

 

You should agree with Dean Baker and me that cutting taxes for the rich is a bad policy.

 

this plan does not cut taxes for the rich......

 

It doesn't do much for me either... lol

 

I'm being forced into a higher tax bracket just to continue living as I currently am.
How is that fair?

 

Mine is okay, not much change one way or the other. Like I say, it doesn't do much for me. Does it help you, Randy? I do wonder how well people who aren't retired will fare though. The plan wants to cut way back on how much money you can contribute to your tax advantaged accounts. I would be concerned if I were still contributing.

 

Do it the easy way. Just tell the government that you do not have an income and pay no income tax.

 

{WHILE I WAS AWAY DOING THE ROUGH DRAFT FOR MY NEXT PROFILE UPDATE ON FRIDAY OR SATURDAY.....}
A few valid points have been mixed in with (hopeful) dogma...

Is the GOP whistling past the graveyard by looking at this proposal??
Congress Considers A Tax Revenue 'Trigger' To Shoot Down Budget DeficitsSome senators want the tax overhaul to come with a built-in trigger: if budget deficits were to grow, then tax cuts would be reversed. But several key senators strongly…
NPR

-Tell me where Main Street, let alone the 'litte people' can find comfort-
Chuck Marr‏ @ChuckCBPP 27m27 minutes ago
Chuck Marr Retweeted Chye-Ching Huang

So even with $1.5 trillion to allocate, more than 22 million filers with incomes below $200k face a tax increase in 2025 when bill is fully phased in.

https://pbs.twimg.com/media/DP2FPfVWkAEXGCy.jpg
==============
How will these tax cuts ameliorate or counter-act these effects?
Steven Dennis‏Verified account @StevenTDennis 14m14 minutes ago
Not a single Republican senator has expressed a worry to me about the automatic PAYGO cuts to Medicare, farm subsidies and other programs if tax bill becomes law. They are confident Ds will cave & waive, as they have in the past.
===============
-As I asserted earlier, these tax cuts will cause a hole in the deficits b/c of the lack of the hyped aticipated revenue from economic expansion occuring. In response the GOP will continue even greater spending cuts, IF THEY'RE STILL BEING ELECTED (or the contrarians to this agenda don't come out (or are prevented from) voting)
Alex Rowell‏ @AlexRowell 4h4 hours ago
Alex Rowell Retweeted Glenn Kessler

Marco Rubio spoke to DC lobbyists today to say that he's planning to pay for corporate tax cuts with cuts to Social Security and Medicare.
https://twitter.com/GlennKesslerWP/status/935991772978864129
====================================================
@msman You're in this bracket, aren't you?
AARP Advocates‏Verified account @AARPadvocates 6h6 hours ago
BREAKING: New @AARPpolicy analysis found that 5.1 million Americans 65+ will see NO tax cuts from the Senate’s #TaxReform bill, and 1.2 million will actually experience a tax HIKE by 2019.
=========================================
Just so it can't be said I have on my tin foil partisan conspiracy helmet
Jon Favreau‏Verified account @jonfavs 7h7 hours ago
Jon Favreau Retweeted Igor Bobic
https://twitter.com/igorbobic/status/935950542496464896

So if the tax cuts for rich people and corporations don’t pay for themselves (which they won’t), there will be an automatic spending cut to things like education and other basic services.
=================================================
For the true believers in the expected economic expansion for these tax cuts, take a read of this..
Kyle Griffin‏Verified account @kylegriffin1 6h6 hours ago
Major companies including Cisco, Pfizer and Coca-Cola say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting Trump’s promise that his plan will create jobs and boost middle class wages.
https://t.co/CsbSOjY74W
========================================
From the beating the dead-horse Dept, again and again until you sharp as a tac budget economist on this thread get the point driven home into your skulls..
Stop the Speaker PAC‏ @StopTheSpeaker 2h2 hours ago
Stop the Speaker PAC Retweeted Glenn Kessler

This has been Paul Ryan’s plan all along. Defund the government through tax cuts then say we have no money and we have to cut Socia Security and Medicare. He’s been saying it for years. Why are reporters just waking up to this?

The Hill‏Verified account @thehill 53m53 minutes ago
Corporations plan to turn over gains from GOP tax cuts to shareholders, not workers http://hill.cm/HVyn6kk

==================================================
Check this thread out in two days to see what empirical arguments have been made about 'this blame-others for his [presumed] sorry condition' poster..
BACK TO THE SUBLIME PROFILE UPDATE!

 

Right now people over 65 usually vote Republican. That will change quickly when their Social Security and Medicare benefits are cut.

Decades from now historians will wonder how it was possible for the Republicans to pass such an unpopular bill into law.

 

Why is everyone concerned about taxes when Kim Jong is scaring me to death with his nuclear power trip ? I am quite seriously ready to have a nervous breakdown about this whole thing. And though I always joke about being supportive of Donald Trump as our president because he is so amusing to watch, I am seriously afraid of him being the Commander in Chief of our Army & Navy & Kim Jong's crazy little power tripping ass and the direction they seem to be leading us in. I'm unsure how the whole power trip thing can play out well between what appears to be 2 severely mentally challenged individuals with such egos. I am really scared of nuclear war and I wish something or somebody could make it go away. I'm terrified and it's getting harder for me to act and pretend it's only small talk.
Sometimes , maybe a lot of the time , I pretend and act like everything's a joke, but then when I look at it in it's reality, it is a joke, and it's a reminder to me why I act like it is a joke and joke about it. Something really needs done about it. And since you all are the ones who seem to be knowledgeable in the political arena I say it's time to stop arguing among each other and come together and collectively think of a way to make me feel safe enough to not have a complete nervous breakdown, which is what appears to be happening.

 

I lived through the Cold War when the Soviet Union had the ability to kill at least 80% of Americans in a few hours. I remember the Cuban Missile Crisis.

When Communist China was going through the lunacy of the Cultural Revolution, and when the United States was going through the lunacy of the War in Vietnam, Communist China had atomic bombs.

In other words, I have been through this before. Somehow we have survived. Nevertheless, when Ronald Reagan was president I would sometimes lie awake at night fearing that the doddering fool would blunder into a nuclear war.

Kim Jong-un is evil but he is not suicidal. He knows that the United States has the ability to kill nearly all North Koreans in an hour. He also thinks that his only protection is nuclear deterrence. He saw what we did to Saddam Hussein and Muammar Gaddafi when their countries did not have nuclear deterrence.

Donald Trump is a dangerous mad man who gives every impression of believing in the delusions he tells his cult followers. He seems to think a first strike on North Korea is possible. If he tries a first strike North Korea will send one of their nuclear missiles over here to destroy an American city. Those who survive that nuclear bomb will not be consoled to know that everyone in North Korea is dead. That is everyone but Kim Jong-un and his cronies. He may have an escape plan.

Right now the world badly needs the firmness, the calmness, and the diplomatic skills of George H.W. Bush, who I like to call "George the Greater."

I call the Bush presidents George the Greater and George the Lesser, taking my lead from James the Greater, and James the Lesser.

--------

James, son of Zebedee (Hebrew: יַעֲקֹב‎ Yaʿqob, Greek: Ἰάκωβος; died 44 AD) was one of the Twelve Apostles ofJesus, and traditionally considered the first apostle to be martyred. He was a son of Zebedee and Salome, and brother of John the Apostle.
https://en.wikipedia.org/wiki/James,_son_of_Zebedee

James the Less is a figure of Early Christianity. He is also called "the Minor", "the Little", "the Lesser", or "the Younger", according to translation. He is not to be confused with James, son of Zebedee ("James the Great"). In most opinions he might be the same person with James, son of Alphaeus, but the sources offer no certainty.
https://en.wikipedia.org/wiki/James_the_Less

--------

James the Lesser was not inferior to James the Greater. Unfortunately, George the Lesser is inferior to George the Greater.

 

Those are not being cut-------
but Obama changed the way they where increased t0 a lower amount using a different inflation index....

 

Don the Con said they would not be cut. Do you believe his promises? I sure don't.

 

Find it in a Bill someplace dont just chirp the brain dead left mantra....

I trust Trump but not Congress....

 

The Republican maneuver is to tout the revenue building benefits of tax cuts for the rich to make it politically possible to cut taxes for the rich, although polls have indicated for years that most Americans want the rich and corporations to pay higher taxes.

When the tax cuts for the rich and corporations do not have the promised, magical properties the Republicans say, "Oh my goodness. Look at those deficits! I guess we'll just have to cut government spending." Most Republican leaders and the Republican donor class never liked Social Security and Medicare. They want to cut them too. They want to cut everything but the defense budget. They want more money for "a strong national defense."

 

What s it like living in fear constantly.....

why did Obama change how SS increases are done-----That has been the biggest hit to SS....

No one in the govt have the balls to cut their parents SS.....

You are a broken fucking record stuck on negative.....

 

Fortune November 3, 2017

The plan includes weakening and then eliminating the federal estate tax, a levy paid only by the wealthiest households in the country—it only kicks in on estates worth over $5.5 million for individuals and $11 million for couples.

It also eliminates the alternative minimum tax, which exclusively benefits households with incomes over $200,000. And it drops corporate tax rates to 20%, the overwhelming benefit of which goes to the very wealthy and—contrary to what the president might say—will not create jobs, as a study by my Institute for Policy Studies colleague Sarah Anderson found earlier this year.

It was just a week ago that House Republicans passed a budget proposal that paved the way for this tax cut plan. That budget included nearly $6 trillion in cuts to Medicare, Medicaid, education, and other public services.
http://fortune.com/2017/11/03/trump-gop-tax-plan-cuts-2017/

-------

RandyKnight,

I am waiting for you to tell me that Fortune is a left wing rag that specializes in fake news. This is what Wikipedia has to say about Fortune magazine:

"Fortune is a multinational business magazine, published and owned by Time Inc. and headquartered in New York City. The publication was founded by Henry Luce in 1929. The magazine competes with Forbes and Bloomberg Businessweek in the national business magazine category and distinguishes itself with long, in-depth feature articles.[2 "
https://en.wikipedia.org/wiki/Fortune_(magazine)

In order to believe in Republican economic policy one needs to disregard credible evidence, and believe in fantasies Republican politicians compose with the assumption that rank and file Republican voters are credulous enough to believe in them.

 

Republicans in Congress are at least as rich as Democrats in Congress. They do not need Social Security and Medicare.

Insults and obscene words are all the right wing bully boys of XNXX have to counter my courteous, rational, and fact based arguments.

 

Democrats are desperate to derail long-overdue tax relief that is heading to the Senate floor for a vote this week – even if by doing so they take money from the pockets of their own constituents.



There are no good arguments against allowing hardworking Americans to keep more of their money. But that hasn’t stopped Democrats, who are intent on denying President Trump a victory at any cost – including lying about the Senate tax bill’s impact in an attempt to block its passage.

This deceit was on full display at a CNN Town Hall debate this week, where career politicians Sens. Bernie Sanders of Vermont and Maria Cantwell of Washington state leaned on shopworn Democratic talking points as the basis for the their opposition to the tax bill. These include the following five myths that have been making the rounds among Democrats and their media allies.

MYTH 1: The tax bill is a tax increase on the middle class.

Cantwell: “Raising taxes on the middle class is wrong, and that’s what this bill does.”

Recognizing the popularity of a middle-class tax cut, Democrats are trying to use the Bizarro-world argument that the tax cut bill is actually a tax increase. They cite a Tax Policy Center report claiming the bill would raise taxes on 87 million middle-class families.


What the Democrats don’t mention is that the Tax Policy Center is a project of the left-wing Brookings Institution and Urban Institute, funded by donors like George Soros who want to disrupt President Trump’s agenda by any means necessary.

The Tax Policy Center can only arrive at this eyebrow-raising conclusion by making the unrealistic assumption that the tax cuts would expire after 10 years.

In reality, the tax bill would provide significant relief for the middle class by doing the following: doubling the income threshold under which families pay no taxes at all to $24,000; doubling the child tax credit to $2,000; and eliminating the 15 percent tax rate in favor of an expanded 12 percent rate, among other provisions.

The above changes would save ordinary families thousands of dollars a year.

MYTH 2: The majority of the tax bill’s benefits go to the top 1 percent of earners.

Sen. Sanders: “60 percent of the tax benefits in the Republican plan would go to the top 1 percent.”

Democrats are trying to distract from the bill’s middle-class tax relief by claiming most of the benefits go to the super-rich. But in reality, the bill is targeted at the middle class.

In addition to the middle-class provisions mentioned above, consider the bill’s relief for Main Street small businesses. The bill offers a 20 percent small business tax deduction for all small businesses earning less than $500,000 a year.

This 20 percent tax deduction would allow small business owners to keep more of their earnings, helping them to compete with their big business and international competitors – as well as hire more employees, raise wages and expand.

According to the Tax Foundation, 97 percent of small businesses earn less than this $500,000 threshold, meaning the overwhelming majority of small businesses would see relief from this provision.

But who would see little-to-no relief from it? The top 1 percent, with annual incomes of roughly $500,000 and higher.

Given this clear middle-class relief, how do Democrats back up their 1 percent claim? By pointing to the tax bill’s provision to bring the corporate tax rate in line with international standards.

However, survey and economic evidence demonstrates that corporate tax cuts benefit the middle class in the form of higher wages, better workplace benefits, new job opportunities and lower consumer prices.

Even higher dividend payouts benefit the middle class, because the majority of corporate stock is owned by retirement plans, including IRAs, 401ks and government pension plans that help ordinary Americans save.

MYTH 3: The tax bill will grow deficit by $1.4 trillion.

Sen. Sanders: “This legislation will grow the deficit by $1.4 trillion. Mark my words.”

Democrats are suddenly pretending to care about the nation’s fiscal state by pointing to the tax bill’s $1.4 trillion of lost revenues on a static basis over 10 years. What isn’t said is that this is only a 3 percent drop from the $43 trillion Congressional Budget Office (CBO) revenue projection over this timeframe.

But in the real world – outside of simplistic Excel spreadsheets – people respond to incentives. With more money in their pockets and in their communities, consumers, businesses and investors will spend more, creating economic growth that will more than pay for the $1.4 trillion in lost revenues.

According to the CBO, every 0.1 percent increase in the gross domestic product adds over $250 billion in revenue over 10 years. This means that even returning to 2.5 percent economic growth – still well below the U.S. historical average – would more than pay for the tax cut.

MYTH 4: The tax bill won’t create economic growth.

Sen. Cantwell: “No, I don’t think (the tax bill) will grow (the economy).”

Given the dynamic effects on tax revenue from even minor economic growth, Democrats are at pains to deny the growth created by tax cuts. They cite left-wing economists to make their case – but historical evidence and commonsense undermine it.

The tax cuts enacted under Presidents Coolidge, Kennedy and Reagan, among others, all generated several years of supercharged economic growth. The principle is simple: More money in the wealth-creating hands of the private economy – and less in the wealth-destroying hands of government – creates economic growth.

Some 100 economists wrote an open letter to Congress with the following message: “Economic growth will accelerate if the Tax Cuts and Jobs Act passes, leading to more jobs, higher wages, and a better standard of living for the American people.”

MYTH 5: The tax bill will cause 13 million people to lose health insurance.

Sen. Sanders: “This bill… will result in 13 million people losing their health insurance.”

Given this scare tactic worked so well to kill health-care reform, Democrats are trotting it out in an attempt to do the same to tax reform. But the facts are very different this time around.

Far from kicking people off health insurance as Democrats imply, the tax bill would simply eliminate the health-care tax on those who choose not to purchase health insurance. This tax is borne mostly by working- and middle-class Americans: Nearly 80 percent earn $50,000 a year or less. In fact, this provision would reduce the middle-class tax burden even further.

The tax-cut bill currently before the Senate offers ordinary Americans the best opportunity for tax relief in a generation. But Democrats are putting their narrow political interests ahead of what’s good for the country and lying to try to sink it. Their agenda should be exposed.

 

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