House Passes Tax Bill, as Does Senate Panel

The tax overhaul still faces significant obstacles, as Republicans seek to align the House legislation with a version that is under consideration in the Senate.

Comments: 226

  1. If the tax bill passes both the house and senate, democrats next year should print up posters against any republican running for congress saying.. Wanted, (name of candidate) for legally robbing the US Treasury of trillions dollars for billionaire corporations and individual rich people on the pocketbooks of the average citizen. Bring this person to Justice by voting him/her out of office in November.

  2. Well, maybe the Polish Army (Democrats) will ride out with their calvary and stop blitzkrieg on taxes. If Reagan led the axis powers of the rich in WW1 on the poor, WW2 on the poor has begun.

  3. Will Republican Congressmen in high tax states (I’m talking to you California) really sacrifice their residents by supporting legislation that will raise taxes for a large swath of their constituency? As one Republican representative honestly said, in substance, “if we don’t do this, our donors won’t take our calls.” Who do these elected officials really represent? (Rhetorical question.)

  4. I can answer you that, my local congressman, Rodney "The Rat" Frelinghuysen, is flooding the local tv programs with ads proclaiming how this gives middle class people a "1200 dollar a year tax break". What he isn't saying of course is that tax break will go to someone living in one of the low tax Red states (who also happen, *ta da*, to live off Uncle Sam and the money we send in), that his constituents who own homes, pay taxes on them and also state income taxes, are going to get slammed. But I would bet a lot of the blue collar boobs support him near where I live and the more upper class ones will say *nod nod wink wink Rodney won't let us down*, but if they pass this and they see just how much more they will be paying, they will howl, but probably will blame Obama, blame ACA, blame "Democrats", anyone but their sacred GOP party that momma and poppa told them to vote for *sigh*. Redneck nation slavishly has been stuck to the GOP despite the fact the GOP has caused much of the pain they feel, but there is a lot of blue state republicans who are just as stupid.

  5. @Kayemtee, who asks if Republican congressmen will really sacrifice their residents . . . most of California's reps and senators are Democrats. The Trump administration and their lackeys have just written us off because they will never win here anyway. So we are getting the royal treatment with loss of state tax deduction and reduction of the mortgage deduction (you can't buy a dog house out here for 500K). Republicans have to get their money from somewhere to pay for their corporate welfare. California middle-class is going to pay the price.

  6. Why would so many Republicans knowingly screw such a large portion of the American public? Simply because they want to? Because they have suddenly become evil? I don't think so. They are thinking about their next primary election. They are being pulled by the big donor bribe campaign money and pushed by the fear of Bannon and his mindless minions. Why don't they all just quit and become lobbyists? Right now they are no longer legislators, they are lobbyists. They are simply lobbying themselves and each other. They should all resign. Then they can make real money as actual lobbyists, instead of pretend legislator phony lobbyists. After all, if you're going to be a complete phony, you can at least be an honest complete phony. In this environment, that would be a big upgrade.

  7. Exactly right. This is why........ https://www.youtube.com/watch?v=pFSkpNdAGAQ

  8. Well, yeah. It is a revolving door, BTW. And we all know you can make money lots of ways. But someone, at least for the time being, has to be the warm body sitting in Congress voting.

  9. Well Gerry, they haven't *suddenly* become evil. It's more a lifelong learned trait. Dem-A-Dog, I love when Sanders calls Wells Fargo "the socially-conscious institution"...you can cut through all the dripping "just kidding", with strong enough muscles and a cleaver!

  10. I pay 39.5%. Would I like a tax cut? Yes, saying it emphatically as we need to cut spending. Do I need it? No. Do those in the lower and middle class need it......YES! It is way past due. This action will spur growth, will allow small business owners to stay in business all the while enticing other entrepreneurs to jump in whilst hopefully incentivizing large corporations to hire more staff. I would tie the repatriation of the $3-5Trillion that is said to be off-shore to proving that these companies increased their US based work force by 7-10%.

  11. Chuck, I am a small business owner. I co own an atelier making hand made clothing. Our biggest problem is that our clientele doesn't grow because there has been no upward mobility from the middle class this past decade as we witnessed the vanishing of many past clients. A stronger health care system, better transit system for our employees and clients, political and financial stability and certainly no tax cuts for major corporations is the better way. We would prefer more clients regardless of what the tax rate is!

  12. On the other hand, it may spur investment in automation and then cut jobs even more. Beware of unintended consequences.

  13. I agree you don't need a tax cut and neither do I --thank god for our good fortune. But the lower and middle class do not deserve a tax cut either. For one, they don't pay enough taxes to benefit from lowering them! They have continued to support clowns like the congressional republicans who have helped create this $20 trillion dollar deficit that is a result of previous fiscally irresponsible tax cuts and unfunded spending on 2+ wars. The average of less than $1300 doll tax cut they want to give the middle class is a joke and an insult and a scam to distract from the fact that the rich will get a huge windfall. This is simply another republican raid on the treasury that will only hurt the economy--amazing how the same failed trickle down policy keeps failing!

  14. Amazing that the Chamber of Commerce does not say increased wages for employees is a benefit of this package. That’s the White House and GOP talking point. Chamber knows it isn’t true. Wonder who is going to take all the new jobs that we will create via tax cutting if the country is almost at effective full employment now.

  15. The new jobs will either go to robots, or to Vietnam, Africa and anywhere else they can find cheap labor. Every study has shown that huge tax cuts for corporations benefit the same small group of people who control them, well off shareholders, executives, the top .5% who already are rolling in it, and contributes little to nothing to good job growth or wage growth. Blue collar dummies who support Trump are running around saying how the record levels of the stock market have created job growth because of trump, but the reality is that the job growth we see has nothing to do with the stock market and everything to do with the economy going through growth after the stagnation after the last GOP tax cuts and regulatory malaise..but don't tell the dummies that. This is the same tired old trickle down economics that while giving small benefits to the middle class are likely to lead to even more concentration of wealth in the top .5% and little growth in good paying jobs.

  16. “Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment,” Suzanne P. Clark, the senior executive vice president of the United States Chamber of Commerce...." A good Republican stooge who lies like the rest of them.

  17. "“Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment,” Suzanne P. Clark, the senior executive vice president of the United States Chamber of Commerce, wrote in a letter to House members on Wednesday that urged their support of the bill." This is the same hooey we were sold by the sainted Ray Gun. It didn't happen then and it won't happen now. Just plain more of the same trickle up redistribution republicans love so much. The rest of us are left out in the cold.

  18. Agreed. "Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment". But why would they do this without demand? And demand comes from increasing the ability of the middle class to spend, not increasing the ability of executives to hoard cash offshore.

  19. In all of the discussion about tax reform, I have never seen the proponents of this legislation provide reputable, non-partisan economic research that show a direct link between tax rates, and economic growth and prosperity. Not magical projections about future growth, but solid historical data that connects tax rates to economic activity. Maybe they could also bring in Bill Gates to testify in Congress and ask him if he and Paul Allen took into consideration the top federal income tax bracket when they were developing Microsoft in the 70's. Were they on the fence about moving forward with their ideas because they might end up in the top federal bracket, which was %70, in 1975?

  20. How about a direct link from keeping more of our hard earned dollars and having more freedom???? do you believe government owns all agents of production?

  21. I've read many comments over time from small business owners who say that they only hire new employees if there is an increase in demand, tax rates don't matter.

  22. In 1981, the total national debt was 32% of GDP. It is now 105%. We can't make trillion dollars changes to revenue based on anecdotes, emotions and gut feelings. If the government spends X, it needs to raise X. I thought that was conservative doctrine? I also want to pay the least amount of taxes, but let's not ignore the debt and then when it triggers a worldwide depression, run around complaining why no one did anything about it. We have steadily cut tax rates since Reagan and yet the total debt is at this high level. The only time before it was at these levels was in 1945, for obvious reasons. https://commons.wikimedia.org/wiki/File:US_Federal_Debt_as_Percent_of_GD...

  23. Republicans are glossing over the fact that individual taxe benefits expire. The idea that businesses will benefit workers is bogus - hiring is down to improve profits, innovation is down to improve profits, companies have huge cash reserves, and executive salaries at an all time high. Small business will not benefit. The tax bill will further enhance the wealthy at the expenses of the middle class. And the plan to cut healthcare, Medicare and Sicial Securit is glossed over. Retirees and those earning under !75,000 will be hard hit. I see the wealthy Republicans loving this . The rest supporting them on the backs of their hard work.

  24. Great, the House GOP is about to pass this arsenic and toadstool sandwich of a bill.

  25. Bob, please explain why this is so.

  26. The party is under pressure to show a significant achievement and get legislation to President Trump’s desk by Christmas. Obviously, they are under no pressure to get correct one of the most sweeping changes in our complicated tax code leading to the greatest transfer and of wealth from the Middle-Class America to Trump, Corporations and the Wealthy. There is no way their irresponsibly aggressive projections of growth, with no contingencies for risk, scribbled on the back of envelopes in backroom self-dealing, with no testing, and no time to carefully read and understand the impacts and loopholes can be considered anything other than Gross Negligence. If voted, these Elected Politicians and their Staffers should be sued personally and tried in court for placing their re-election interests, Party, Corporate and Wealthy Special Interest Donors interests ahead of our economic and national security. Act in haste. Repent in leisure. Better yet – Repent in Jail. Period! We must find a way to hold self-interested Elected Politicians and their staffers, from both parties, personally liable, responsible and accountable for the lies they have told US, their gross mismanagement of our county, our $20.5 T and growing national debt (108% of GDP), and our $100 T in future, unfunded liabilities they forced on US jeopardizing our economic and national security, while benefiting themselves, their staffers, their party and special interest donors. http://www.usdebtforum.com

  27. "We must find a way to hold self-interested Elected Politicians and their staffers, from both parties, personally liable, responsible and accountable for the lies they have told US" It's called an election. I only wish we had a system like Great Britain where we could have 'no-confidence' votes.

  28. The Rise and Fall of the USA.........

  29. You mean the rapid decline of the USA

  30. No, just the fall.....no rise since Jan 20, 2016.

  31. I am amazed that the Republicans are using 1970's economic models to justify the tax reduction for corporations. The Keynesian economic model of priming the ( tax cuts) doesn't work if there's no pump to prime. Outsourcing is the reason it doesn't work. Lowering taxes to corporation increases the gross margin ,benefit the companies stock, but doesn't mean that it will increase the job growth or salaries. What it means is that companies will just buy more products from overseas vendors. Trickle down economics didn't even work in Reagan's administration when we still had a manufacturing infrastructure. Tax cuts to companies will not make us more competitive because we cannot compete with the labor rate of China, India, Romania and other overseas manufactures. Automation can help, but that requires a significant capital investment. If the Republicans addressed that by giving tax incentives to increase companies capital investment, that may help, but just giving a generalize tax break will not help the common worker.

  32. VMG is correct that Republicans are using old economic models that have been proven repeatedly to not work. But it's even worse than that. Take the Laffer curve, which Republicans have used for decades to claim that if you reduce the tax rate tax revenues will rise because of business expansion. I have read the original version of the Laffer curve - the professional article, not the back of a paper napkin diagram that wowed Republicans. In it Laffer clearly states that if the government funds the tax cuts by increased borrowing, the benefits will not occur. Since the Republicans advertise their plan as increasing the deficit by A TRILLION AND A HALF DOLLARS (and several economists write that the actual rise in the deficit will be greater), even by the old model this tax cut will not sufficiently stimulate the economy.

  33. I'm amazed you're attacking the Republicans for their interpretation of the Keynesian economic model but make no mention of the Democrats' interpretation of the same model. The Dems of course assume that more government spending will solve any and all problems. That's why we got that bloated stimulus bill in early 2009 with massive amounts of honeybee insurance included no less to save us from a depression.

  34. You are thinking small scale. The common worker does not create jobs. If Google has options to operate in the US with a 35% tax rate or Ireland with a 12.5% tax rate where do you think they will chose to go? There will be no job for the "common worker" if they don't have a company to work for. Having said that I'm not against lowering taxes on the common worker but demonizing corporations is like biting the hand that feeds...

  35. First, we need to see Donald Trump's tax returns. To call this legislation a conflict of interest would be the understatement of the decade. Secondly, we need to kill the myth that "Enacting tax reform would unleash resources to...hire new workers". Give me a break! Corporations are drowning in cash, and instead of hiring or updating their resources, they use it on stock buybacks and lavish executive packages. That is, whatever doesn't end up hidden offshore in some Paradise Papers scheme. Enough! Kill this bill.

  36. There is no cuts to medicare...roars Orin Hatch, as his assistant quietly whispers in his ear that yes there is hundreds of billions of dollars in cuts. Hatch nods and falls asleep...

  37. Congressman from high tax states now realize they are in deep trouble in 2018 if this anti blue state bill passes. The same folks who have been in lock step with Trump now want to make us think they are going to go down swinging in the defense of their constituents? If the tax break for the Rich and Powerful passes in 2017. 2018 should be a reckoning for those in the hip pocket of the powerful and we the people should use our power to" Vote Those Bums Out'. The party of Lincoln has become the Party of the Powerful and Greedy. When will the left ever frame a message to ask these billionaires How Many Billions do you need to feel Satisfied? The left may not have the numbers to stop the bill but they do have a bullhorn that they should be using 24/7.

  38. Not to mention that McConnell has just added an amendment to greatly expand oil leases/drilling in Alaska so that Sen. Murkowski will have to vote for the TAX Cut for the 1% while killing health care for Alaskans. McConnell represents Kentucky which is: 1/ #46 in Educational attainment.. 2/ #46 in Poverty. 3/ #43 in Employment. 4/ #43 in Medicare quality. But #1 in obstructionist politicians.

  39. Public opposition has not mobilized on this as effectively as it did to defend Obamacare. By focusing on changes affecting specific groups or categories of income/deductions, from tuition waivers to high mortgages, opponents can be cast, ironically, as defending special interests. We are losing the big picture of how this is a giveaway to the wealthy at a time of unprecedented economic and political inequality and how it will be a lever for budget cuts that will destroy the safety net and "entitlements" and dismantle the government as a regulator of business and protector of citizens' rights. It's particularly difficult because Democrats, since the 1980s, have retreated from any robust defense of taxation or, frankly, of government. Bending to blackmail on the debt ceiling and suckered, since Clinton, into championing the "end of big government", "reinventing government", "fiscal austerity", and a "balanced budget", the Democrats now seem defenseless patsies when faced with a tax bill that shamelessly explodes deficits by those who just fed uproar about the national debt (like all the other dog whistles) as means to an end: an undemocratic, corporate state.

  40. Do people in their districts realize what these guys are proposing? Propaganda works only up to a point -- the point where you get the bill.

  41. Democracy in action! Wow I never thought it would happen that I would be taxed without representation in Congress which is exactly what is happening.

  42. Any Californian Representative who votes for this disgusting Bill is a traitor to his constituents and many will pay the price next November. California has its faults but it is a donor State and in this bill is discriminating against Blue States. From the National perspective it is daylight robbery of the middle class by the rich, it imposes a further debt problem on our kids and Grandkids and still does not address our crumbling infrastructure. The Nominal decrease in the Corporate rate is okay but not at the expense of individuals, Medicare, Medicaid.All Corporations must pay 20 percent then the realignment is fair and self funding. By the way the changes in Corporate tax favor new investment in technology, read automation, this could favor job reduction not increases. Further more as far as the job market is concerned we have 6 million unfilled positions for skilled workers, we will witness cost push inflation , higher interest rates which will further harm the less fortunate, many of them Trump supporters. Where is the coordinated Response from Democrats , this bill is a disaster

  43. Since this tax plan is specifically designed to hurt the blue states, It is time for the blue states to fight back, and aggressively expand the fight. The governors of major blue states like NY, CA, MA should jointly announce a lottery for five reliably red states: say Kansas, Oklahoma, Nebraska, South Carolina, Indiana. States with sufficient population, more white than red. The winner of the lottery would be the target of a ten year economic boycott -- period not reducible no matter what, and renewable after ten years unless a certain set of criteria are met, which might include: 1. Return of monies owed to the blue states. 2. Reversal of gerrymanders. 3. Significant overhaul of the tax and penal code with more progressive and more numerous brackets. Harsh penalities for megathieves and tax evaders. 4. Elimination of personhood status for corporations, and increase of personal liability for the actual people in charge. 5. Enactment of sensible campaign finance laws. Repeal of Citizens United. 6. Reenactment of the fairness doctrine. 7. Permanent status for the Citizens Protection Financial Bureau, with increased powers. Beefing up of the IRS. 8. Serious gun control. No immunity for gun makers. 9. Science-based EPA. 10. Deliberative regulation of Big Oil, Big Pharma, Big Ag, Big Banking, Big Data. Business in service of humans, not humans in service of business. The boycott should be focused on one state, but the demand should be of all.

  44. --Maximum Damage. We'll all be affected. --As the rich + corporations pocket excess cash + GOP donors smile. --Republicans inserting changes to bills without announcing them. --For them to make that corporate tax rate permanent, middle-income families + older adults pay millions more in premiums. --Millions will be uninsured + discriminated against once again. --Hidden in the bill? Hefty cuts to Medicare--followed by cuts to housing, education, environment + transportation in states/local areas. ---Services cut + more down the road. Massive health costs out of pocket. Higher cost for employer-provided insurance nation-wide + more employers dropping insurance for workers. --Another shake up to health care markets, further destabilization. Jobs lost.

  45. Prior economic figures indicate GDP growth through the quarters averaging 2 to 3 percent, therefor the economy is growing very well and the tax cuts are unnecessary which means they are a grand theft from the vast majority of America to enrich the few who don't need it and the corporations that have been either hording profits or using them to move outside the country. This is what happens when our political leaders are isolated in their echo chambers surrounded by lobbyists who express the wants of those wealthy individuals and corporations that give their campaigns mostly large secret donations through super PAC's and indirect election aid. It's payback for power.

  46. This isn't a situation where a narrow plurality of citizens opposed a bill, like Obamacare. This is yet another example of the Republicans attempting to force through a bill that *large majorities* of citizens vigorously oppose. These vast majorities are left with only one option: to vote out EVERY Republican in Congress, because ALL of them -- even our local Republicans -- have chosen to put people like Paul Ryan and Texas's Kevin Brady in charge of our destinies. The Republican Party has made it impossible to "vote the person, not the party." They have forced us to make getting rid of them ALL "Job #1."

  47. If the Republican House truly wants to reduce the deficit, why doesn't each member write a personal check to the government, They and the rich senate members can personally afford to pay off the deficit whereas the middle class and poor can't. Large corporation should pay up too. This bill is bad bad bad for the American populace and only good for rich people lining their pockets. It doesn't even help small businesses floundering everywhere and it certainly does not feed the hungry----and there are millions of them in America. Trickle down cash flow to the poor did not work under Regan or Bush before and it won't work now---though it might cause a massive depression.

  48. When the biggest supporters of this tax proposal are people like the Koch brothers, you can easily surmise who will stand to benefit the most from such a tax code. The Republicans refuse to listen to top Economists and subject matter experts who have indicated that the economy would need to grow at least 6-8% for this to work and pay for itself. That hasn't happened in years; the typical growth rate is in the 3-4% range. The Republicans are just being stubborn in their desperate quest to get a legislation victory for this administration.

  49. The passthrough preference gimmick should be called the Trump-Kushner-Koch Dynasty Loophole.

  50. The effective tax rate for business before and after this change may not provide funds for new jobs.

  51. Even if it does, anyone who thinks that CEOs are going to look at this infusion of money and go "Oh, Goody! Let's hire thousands of new workers, and at middle class salaries!" is definitely a Fox News zombie.

  52. By which economic measures, specifically, are we in need of these cuts?

  53. The way that our tax returns are presently prepared evolved over time, addressing various interests and concerns as they arose. It was not foisted upon as as whole cloth. Let's leave it alone with possible tweaks here and there. Let us not hesitate to shave a point or two off the rate though. The big change that would bring in some tax money will be to tax ALL income earned by US corporations not just the money that they bring back to the US from abroad, which is how we already tax individuals under the same circumstances. At the same time, since more income will be subject to income tax, we can reduce the rate and make it competitive with rates imposed by foreign countries. That would prevent our corporations from going elsewhere and, as a bonus we would attract foreign companies from high tax jurisdictions.

  54. From this article. “Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment,” Note that Suzanne Clark of the US Chamber of Commerce did not say this will all happen in America. The windfall tax gift will go to where the growth markets exist. They are mostly off-shore. China, India. and Vietnam are primed for foreign investment. Investors and CEOs will pursue more purchases of their own company stock. Wealth will concentrate further on in America. Our Millennials must strive for entry into the Investor Class.

  55. The opposition is twelve votes short. Unless a miracle happens, the House version will pass. The real battle is fought in the Senate. We've known this since lobbyists abandoned the lower bill. McConnell is currently trying to keep everyone off balance as he sprints towards the finish line. I wouldn't be surprised if he drops the health care mandate repeal at the last minute. This would certainly frustrate any organized lobby. He'll need to replace the lost revenue but the revelation wouldn't come until the eleventh hour. No one would have time to react. I feel like health care is a bait and switch. Otherwise, McConnell is given way too much credit. The mandate is the best opportunity for Republican Senators to kill a nasty bill.

  56. Or McConnell and Hatch may simply push back the effective date of the ACA mandate repeal by another 12 months, which should appease the holdouts on the principle that a delay until 12/31/2019 gives Congress ample time to work out a bipartisan solution to health care, and for the industry to adjust. Same logic could apply to SALT dedux.

  57. There simply aren't enough expletives in the English language for me to express my feelings about this tax package. The delightful Glenn Thompson (5th district, PA) has offered not a word about a bill that will negatively impact large portions of our district. Repealing the medical expense deduction, paid only by those families facing hardship already, so that people who are unimaginably well-off can get a break is immoral. The Senate bill leaves out some of the worst provisions in the House bill (but adds others!). if this passes, don't count on the Senate to save us from this terrible legislation. Republicans are desperate to pass something, and they've demonstrated that they aren't likely to be constrained by appeals to reason or concern for the middle class.

  58. All America needs to know about the GOP as currently constitituted is its present tax plan. We are not just the only advanced western country that does not have some form of a universal health care system, we are also the only one that no longer has a basically free higher public education network. And this tax plan sees to it that fewer people can afford health insurance and our students have more of a cost burden and less tax relief. Who are we? The plan is simply payment to the .01% for years of donations in anticipation of just such a gift. All the rest is hot air. Deficits only matter as a reason to cut Medicare and Social Security. This bill is an embarrassment to any legislators with a shred of integrity. That so many in Congress and this administration can praise it with a straight face should not be forgotten next November. KA

  59. Cutting (some people’s) taxes on the front end will increase the deficit at the back end and then the Rs can force service cuts like to Medicare and Medicaid et al. to pay for the deficit. Not complex but red state voters insist it isn’t so, until Kansas shows that, alas, it is the case that the Republicans wish to return to 19th century Robber Barron times. Repealing FDR legislation has been the goal of business since before it went into effect to save their businesses and the economy. Don’t kid yourself, this tax bill will inevitably bring back the bad old days because it restores the total sense of entitlement of corporate America and the super rich. Thanks go to the SCOTUS for empowering corporations over people — exactly what the Founders were afraid of.

  60. Putin himself could not have devised a more effective way undermine the United States of America. Perhaps Congress will now take its stand along side Trump as Agent-in-Chief.

  61. The sad thing is that the Republicans would rather try and appease their radical wing by creating legislation doomed to fail instead of softening the legislation to appeal to conservative Democrats and actually pass something.

  62. Let's briefly consider the effectiveness of economic stimulus techniques; The Republicans brought us the great depression and the great recession with Hoover and Bush. The Democrats saved the economy and it grew with the Roosevelt public works WPA projects and the Obama stimulus. I would think that after so many decades, the lesson would have been learned. Moving money into the vast middle and lower economic classes are far more effective at growing the economy than giving the wealthy their tax cuts. The wealthy don't spend it as much as they horde it or invest in "Global" business or secret accounts. Trickle Down economics is a widely spread Republican myth only.

  63. Obama stimulated the wealthy, crumbs for the rest of us. Check the wage stagnation and union busting going on since 2008. us army 1969-1971/california jd

  64. Bravo. This tax bill appears to be riddled with polemical problems, right from the get go, from both sides of the aisle. A kink in the hose for this bill, as perceived by one of the news analysts, Jeremy Peters, will be the individual mandate of the ACA. ''It is gonna be a heavy-lift as well,'' opines Peggy Noonan. No matter, some GOP hardliners are hell-bent in ramrodding this bill, but some of their own kind, Sen. Ron Johnson, for instance, seems underwhelmed bythe bill, stating it favors only the oofy. One of the tax exempt bones of contention is the SALT - sales and local tax. For a dawdling observer, all these rigmarole about the tax brackets, exemptions, capital gains, and AMTs, might seem quite jejune, but these are the necessary evils of public lives. There will be clamors and hue and cries about the provisions in the bill, but one thing seems almost certain. This ain't gonna pass before Xmas. Moreover, many Pharisaical politicians, in their unctuous manner, will try and sell their ideas, as though theirs is the surest way to get to the financial paradise, even for the middle class. And the sycophantic believers will canvass their cause, with unbridled enthusiasm. One can't wait to hear the cacophony from the clash of the Titans. Let the games begin!

  65. How stupid do the Republicans believe that the American public is? There is no pretense that this bill is anything but a giant tax cut for the super rich on the backs of the middle class and working poor. If consumers- that same middle and working class have no disposable income the economy is going to shrink. Low wages and higher taxes for consumers is a lethal economic cocktail.

  66. That is what I can't understand. Why do they gloss over the fact that the economy will shrink? This is a lethal economic cocktail and they know it. Since their wealthy donors have money overseas in tax havens, they don't care. They are citizens of the world. These Congressmen and their constituents are not. Their donors will abandon them anyway.

  67. Yes, you are correct. I am a middle class senior on a fixed income from New York State. My federal tax will increase by $1200 the first year alone under tax reform. I am already deciding what I will need to cut back on to pay the additional federal tax. It means less money going into the economy.

  68. A portion of the electorate is really that stupid. And they will be negatively effected by the tax cuts for the rich bill. This is a nightmare and could have horrid repercussions for a long time to come!

  69. Yes Americans who vote GOP, I hope you are happy.....you’ve helped drive the car off the cliff, unfortunately the rest of us are strapped in the back seat........

  70. Time For Action, Good People of America. Call your U.S. house representative and senator with ANY reason to say no. Senator Ron Johnson says the bill doesn't give enough to "business and investors". Okay. No is No. Health care, medicare cuts, government contracts will go to the wrong people, hurts small business. Any reason is good enough to prevent this Robber Baron disaster from falling on the shoulders of the Good People of The United States of America -even those ill-informed fox so-called news and Con Don supporters. WE THE PEOPLE must demand that socially conscious senators and house representatives who do not want to see The United States of America destroyed in WW3, which would be catastrophically destructive both economically and physically, vote NO on this or any "tax reform" bill while the Robber Barons control OUR government. WE THE PEOPLE must also elect/hire socially conscious women and men who will purge corrupt individuals from OUR governments at every level and tax back 100% of the Robber Baron stolen wealth. NOW is the time. Call your U.S. senators and house representatives and tell them to vote NO. NO. NO! https://www.senate.gov/general/contact_information/senators_cfm.cfm https://www.house.gov/representatives/

  71. Thank you. I called my two (Republican) senators from Georgia today. Everyone else, please call as well.

  72. I can't ever remember being this furious at the government. I almost said 'my government' but stopped myself. This is decidedly not my government. I can't ever remember being this furious and I'm a gay man who came of age during the Reagan administration. So, I watched the government let people like me die. I watched George W Bush speak in favor of a constitutional amendment proclaiming that marriage is between one man and one woman. I watched W allow ATVs in the desert parks that I love. I have never been this furious at the government. At this point, all I think is two words: Tax Revolt

  73. It's going to take a lot more than "tax revolt" to take the country back, or rather to save it. Angry at ATVs will be the least of our problems.

  74. Good luck with said revolt. It's the employers who withhold the taxes, and when your employer is a wealthy Walton, or a spiteful Ricketts, or an anti-Obamacare Papa John or Dallas BBQ...

  75. I agree. It is so clearly geared to only benefit the few at the top and will result in even greater inequality. Not to mention what it will do to charities and universities--who also employ massive amounts of people and try to do some good in the world. Those institutions will suffer while corporations will use the extra funds to buy back stock and increase automation. I am seething and very committed to getting all of those who voted for this garbage out of office.

  76. Mr. Rappaport, I have some bad news for you......this is not a "sweeping" change to the tax code. This is a thrown together, last minute Hail Mary by Republicans and Trump so that they can pretend that they did something this year. Just like Trump is trying to pretend that he actually accomplished something overseas. Perhaps it's not your intention but it is dishonest to call this thing a sweeping change to the tax code. It might be sweeping for corporations and the wealthy but that is not the majority. For the majority, it is a pittance and it does nothing to really simply and or evolve the tax situation...and it's certainly not a major tax cut for anyone.

  77. Looks like they will clear the House with this Frankenstein bill. We can only hope that there will be at least two more holdouts in the Senate. The irony now is that a truly simpler bill with corporate and individual rate cuts, the higher standard deduction, AMT repeal, and a doubled estate tax exemption would sail through both houses. It's all the clutter of their Trumpian passthrough preference loophole, the SALT dedux repeal, ACA mandate repeal and the nickel and dime revenue measures that not only complicate the politics of passage, but leave the GOP more vulnerable in 2018 midterms. In their attempt to simplify the code, leadership has complicated the entire process and given the Dems ample points of attack next year. Only time will tell.

  78. reply to GCM Newport Beach CA "... the House with this Frankenstein bill." Be careful with your language. Our dear Prez has just referred to Senator Al Franken as Senator Frankenstein (in twitter post). He (DJT) won't give that one up in a hurry. He'll use it as more distraction from the "Russia thing."

  79. The GOP does NOT feel vulnerable, not now and not in the 2018 midterms. They have been perfecting the means to disenfranchise millions of voters and suppress the vote. When you control the levers of power literally -- and can further consolidate it through tax increases and judge appointees, what's to stop you? How Hackers Broke Into U.S. Voting Machines http://fortune.com/2017/07/31/defcon-hackers-us-voting-machines How to Rig an Election https://harpers.org/archive/2012/11/how-to-rig-an-election Laughing Their Ossoff: Did Computer-Aided Fraud Play A Role In Georgia's Special Election Upset? https://www.mintpressnews.com/laughing-their-ossoff-did-computer-aided-f... The Insecurity of America's Old and Underfunded Voting Systems http://www.npr.org/programs/fresh-air/2017/07/20/538312289/fresh-air-for... Donald Trump Warned of a 'Rigged' Election, Was He Right? http://www.mintpressnews.com/donald-trump-warned-of-a-rigged-election-wa...

  80. The Republicans are solving problems that don't exist, businesses can get capitol very easily if they need to expand and very few businesses pay 35% because of deductions. The problem with the economy is demand and the best way to increase demand is to raise the minimum wage. If the Republican party really want to put more money in the hands of hard working Americans and heir families the best way is to increase their wages, Tax cuts should be saved for economic emergencies, now is not the time to cut taxes.

  81. "and very few businesses pay 35% because of deductions." And tax havens. Don't forget tax havens. You wanna squirrel your money to the Caymans, then your trademarks, copyrights, and contracts should be valid...in the Caymans. And nowhere else.

  82. Quoting dirtybruce of Monterey CA: ". . . raise the minimum wage. If the Republican party really want to put more money in the hands of hard working Americans and their families, the best way is to increase their wages." A personal anecdote about wages--Earlier this year, I had the chance to work for nine weeks as a substitute teacher in a fifth-grade classroom in Alabama. The wages offered me? $8.00 an hour. Here are some other, pertinent numbers: 90 children (shoe-horned into a small classroom, in three l-o-n-g classes) for 8 hours, with extra work hours guaranteed after school for lesson prep and grading. I managed the job for seven days until I realized someone else probably needed the work more than I did (I'm retired), and someone younger would likely do a better job. The children deserved someone with lots of energy. Many places in our country do not value labor. It's obvious that the House of Representatives does not.

  83. Yes, but they don't want to put more money into the hands of the middle class working people, obviously.

  84. I thought these GOP'ers took an oath to Grover Norquist to never raise taxes. I guess that was meant only on the 1%. The rest of us can go to tax he!!. But wait, we will vote you out of office and then repeal this atrocity. Repeat: Repeal and Replace the GOP!

  85. As long as you don't live in a state that has income tax, own a home, have three or more children, pay for medical costs or insurance, pay for higher education or receive Social Security, Medicare or Medicaid, your family might escape this bill intact. Otherwise, look out. This warped Republican bill is amazingly even WORSE than the health care bill, in that it ruins the health insurance market AND crushes the middle class and poor directly through the tax code, all in order to funnel even more wealth to the super-rich and huge corporations. This bill is sick, and so is the GOP.

  86. What other than the ineffectual ballot-box would you propose to "fix-it" >

  87. where is SS or Medicare mentioned in the Bill?

  88. Most of us are missing the point here, including mainstream media, who persist in depicting these deplorable actions in terms more appropriate to sports, I.e., “only GOP legislative victory for Trump administration,” vs what it truly is - a deliberate subversion of the democratic process aimed at stifling debate and muzzling opposition of both parties, effectively disenfranchising the vast majority of citizens. To use an administrative RULE to push through measures that will reshape the American economy for decades to come with life or death consequences for many is the height of hubris and an even worse insult to the intent of the Founding Fathers (and Mothers) than an out-of-control Executive. Shame.

  89. Under current law, one uses either the greater of the standard deduction or the sum of itemized deductions. In this new bill, would one keep the standard deduction PLUS up to $10,000 for property taxes for example? Or is it still the same logic as under current law?

  90. One of the great lies about removing SALT is that a person earning $40,000 in one state should pay the same Federal Income Tax as a person earning $40,000 in any other state. The lie is that in states like New York, the person with that salary doesn't actually receive that amount because state taxes are removed before they ever get a paycheck. The salaries in these states are often inflated in recognition that they will not get that full amount to live on. So a school teacher in Manhattan, is payed a salary that reflects the fact that state taxes will be removed. A teacher in a state with no income tax does not have that adjustment built into their salary. If this unfair legislation is passed, I hope some smart legislator will find a way to allow an employee to reduce their wages and let the employer pay the tax. In the meantime, I expect every working person to vote against the varmints who are voting to support this tax hike on us.

  91. You won't be surprised to encounter varmints during a walk in the woods, though you probably don't expect to run into them in Congress....but there they are and all looking to LIE, CHEAT and STEAL from We the People. None of our Western States has any laws restricting when or how many animals classified as "varmints" we can lawfully shoot -- be glad to gather a contingent of genuine, bona fide varmint hunters to come East and rid Washington of those pests. why we wouldn't even claim the bounty or pelts !!

  92. We can all wish that the House and Senate bills are actually about reforming the tax code. Unfortunately, from what I have read, these bills are more about promoting RNC dogma and have little to do with actually funding the federal government in a fair and equitable way. Of course, since the Republicans in both the House and Senate have chosen to act like the Democrats aren’t even in the chamber and that their constituents don’t exist these bills are more political dogma than a realistic attempt at funding the government. There is already discussion about eliminating or gutting all the social programs. Of course, the RNC would love to roll back all of the actions taken by the US Government to the ‘80’s – specifically the 1780’s under the Articles of Confederation.

  93. The GOP led House passed healthcare reform as part of a budget strategy that only requires a simple majority to pass. It failed. They tried to repeal healthcare. They failed. Who cares, at this point, what they pass? We must rely on the few wise GOP voices of the Senate to ultimately protect the American people.

  94. I ran a successful construction company for 26 years. My only real consideration when deciding to expand my work force was will I make a profit from the new employees. I did not worry about what percentage that profit would be taxed at. Whether I got to keep 65% of the profit or 80% would not be a factor in that decision. Will I make money? That is the only question I pondered.

  95. You can imagine my surprise in finding out that American corporations were struggling in part because they were paying too much in taxes and my family was paying to little. Sorry, America!

  96. “Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment,” Suzanne P. Clark, the senior executive vice president of the United States Chamber of Commerce, wrote in a letter to House members on Wednesday that urged their support of the bill. As if. The re$ource$ unleashed would be used for bonuses for top executives and stock buybacks. For big businesses, not small. And big companies have absolutely no interest in creating jobs. If anything, they will invest in automation and artificial intelligence to ELIMINATE jobs, since that would increase the value of their stocks, which is their main goal.

  97. Also, don't forget that the US Chamber of Commerce is overwhelmingly funded by multi-national companies and ~40% funded by foreign multi-nationals. It is barely a US entity and does not represent "small" or even mid-sized domestic businesses. I can think of few organizations with less credibility, so it is fitting that it is acting as a major lobbyist.

  98. I like Ms. Clark's use of the phrase "would unleash resources". She is not saying that companies WILL use the resources to expand, hire etc., just that resources will be "unleashed".

  99. I hope the House passes this because it will serve the campaign of every Democrat running against them in 2018. Not even gerrymandering can whitewash the pandering to corporate interests at the expense of the middle class and poor.

  100. Attention Republicans in Washington. I am opposed to your tax legislation. It will require cuts in Social Security and Medicare in the future. The proposal to tax college tuition benefits is a terrible idea that hurt families with middle and low incomes. I will contribute your Democratic opponents regardless of which state your represent.

  101. Tax cuts that increase national debt. Is this the correct manner for balancing budgets. Why not eliminate Social Security or outsource our military or eliminate funding for toilet paper in government buildings... If we want to shake things up draining the swamp might as well throw everything in the bill. Funny thing about draining low lying areas, drain the muck and it just fills back in with more muck. Maybe instead of rushing to vote on a hastily drafted bill behind closed doors, lawmakers create a truly bipartisan study group and create an unbiased reform bill that has meaning, Just a thought. An honest days work for an honest salary.

  102. “Enacting tax reform would unleash resources for businesses large and small to hire new workers, expand facilities and purchase new equipment,” Suzanne P. Clark, the senior executive vice president of the United States Chamber of Commerce,"....Except there is one small problem. There is no reason for any business to expand unless there is an increased demand for their products or services. The fact is that inflation is running at a low 2%. ECON 101 tells anyone who is paying attention that there is no increased demand, so any increase in revenue derived from lower taxes will simply go into the businessman's pockets. Duh.

  103. The House appears to poised to lead our nation into moral and financial (but for the ability to print money) bankruptcy. It's a game of follow-the-leader only possible to play with extreme haste because the bill would be rejected it were given any genuine consideration. Shameful!

  104. If the needs of the people of the United States of America have taken a back seat to the needs of corporations, then it is obvious that OUR government has failed in its duty to see to the needs of, and to protect the interest of the American people. As such, the government must be dismantled and reconstructed - "rebooted", so that it once again resembles the form of government envisioned by the founding fathers. If this tax cut that will only benefit a few thousand multi-millionaires and billionaires and corporations is passed, while at the same time, tens of millions of WORKING Americans go without a crucial necessity like health insurance because they cannot afford it, and at the same time, are forced to endure an ever decreasing standard of living, then my fellow Americans, it is time to take to the streets, revolt, and fight, for war is certainly being waged against us - by OUR OWN government. - A concerned and terrified American

  105. Trump and Republicans are yapping the old Republican lie that "tax cuts will grow the economy." Reagan was elected and the national debt was $990 billion. Reagan "cut taxes to grow the economy." Bush I was elected and "cut taxes to grow the economy." Bush II was elected and cut taxes by more than anyone before "to grow the economy." All we got from Republican tax cuts was over $12.3 TRILLION in exploding debt and one Republican recession after another ending in "the Great Recession," and negative private sector jobs growth over the eight years of Bush II. Trump now claims the "biggest tax cut ever!" will grow the economy and create jobs. Trump and the Republicans will only take more from the working poor by raising the top marginal rate in the bottom tax bracket from 10% to 12%. Trump and the Republicans will stick it to the Middle Class by ditching deductibility of state and local taxes, student loan interest, of medical expenses and of supplies paid for by teachers for classroom use so most of us pay more in overall taxes. Most cynically, only corporate tax giveaways are permanent so the GOP needs only its Senate votes to pass the bill. Millions of working poor and Middle Class Americans will lose health insurance and access to quality and affordable healthcare by eliminating the ACA individual mandate so the 1% and corporations can get the TRILLIONS in new tax giveaways they bought the Republican Congress to get. Trump and the Republicans are lying, again.

  106. This article's title call the tax bill an overhaul. As though we were talking about a thorough rejuvenation. Not an appropriate word for a piece of legislation that steals from the poor to give to the rich.

  107. There is no reform in this bill It is the greatest transfer of wealth from workers to investors the world has ever seen perpetrated by red states to punish blue states This plan will not benefit 90% of Americans in the long term. Those that vote for it deserve to be primaried You really do get the government you vote for

  108. The GOP in the House continues to amaze me. You would think that they would recognize they are the most exposed of the GOP politicians. Corrupt Senators may not have to face voters for another 5 years in some cases, but House members will have to face us (voters) next year - and we are pretty angry!

  109. This is NOT an overhaul. When I overhaul my car, I expect it to run great for the next 100,000 miles. This overhaul will be found broken down by the side of the road very soon.

  110. No surprise that these so called law makers would support one of the worst tax proposals ever. Just as they supported the worse healthcare plans ever. They probably have not read this one either but if tax cuts for corporations and the richest people are in it--how can it be that bad? That crippling $20 trillion dollar deficit that they railed against for 8 yrs? Even though people on the left have been saying for years that all the republicans really want is to reduce/gut spending on "entitlements": Medicare, Medicaid and Social Security. It is astonishing to see how destructive they are to the capitalist system that they have thrived in. When the democrats have become the party of fiscal conservatism and deficit reduction, it shows you how terribly incompetent the republican party really is. The only thing I can say to republican party is--Please implode before you completely destroy our country!

  111. We the People ought to oppose EVERY tax bill until we see Trump's income tax returns for the past ten years. Call Congress and tell your congress-members to vote no: 202-224-3121 We get the government we deserve.

  112. Called a moment ago. senator Burrs office graciously acceptedy call. Senator Tillie has the answering machine onl

  113. Yes, and Dems take bake the House and Senate, they “rewrite” the tax reform to tax those who can afford it most, corporations ( that are doing just fine already), and the very wealthy...and their estates.

  114. Last I heard, the corporate tax rate may be 35% for the record, but the effective (aka "true") corporate tax rate is really only 22%. If that is the case, just kill the corporate tax loopholes and have all corporations pay 22%.

  115. What makes anyone think that a corporate tax cut will result in more jobs? The investment credit they receive may go into automation and actually result in job LOSS.

  116. Automation and offshore...

  117. I agree. And how much will go into mgmts. pockets as well? Quite a lot, I'm sure

  118. Absolutely--all that money will go into more automation and fewer employees. What employees remain will have higher earnings because of a higher skill set but the companies will no doubt save money by having fewer employees and fewer benefit responsibilities. The manufacturing company where I am employed is in the process of installing robots that will cut 3 jobs down to 1, of course the company has not told the employees this--yet.

  119. There is no ''overhaul'' . There is no ''reform''. There is a massive tax cut for millionaires and billionaires ( creating even more loopholes and amnesty ) at the expense of the middle class and the poor. It will blow a gargantuan hole in the deficit and create more debt that will be insurmountable for generations of children and grandchildren to come. ( let alone trying to pay just the interest on said debt ~ especially if inflation rises just a tick upward ) Oh, and this Congress ( republicans ) is destined to become one large death panel as they continue to pick apart piece by piece ( by budgetary measures ) health care for Americans. This is what you voted for people. ( at least a clear minority of you )

  120. NY Times: please do not call it the proposed tax bill an Overhaul. An Overhaul suggests a good thing. This is loaded language. This is not an Overhaul! Please find a different word. As a reader, it feels as if you are buying into a partisan viewpoint. I can think of a lot of words to describe this bill. Overhaul is not one of them.

  121. Yes, it should rightly be termed an upward redistribution bill. Money comes out of the middle class, especially those in coastal states that already subsidize the South and mountain states, and sends those increased taxes to the South and West and to wealthy corporate interests. Maybe it's a retributive tax bill? Retribution aimed at the states that didn't vote Republican?

  122. I think the schizophrenic nature can be seen by two things in it: 1)Despite what Trump claims, it gives huge benefits to the well of and basically a giant tax giveaway to corporations and 2)it targets education based benefits for taxation, which not only is aimed at increasing tax revenue (the amount is likely dubious), It also very much goes along with the GOP's base who basically don't want to improve the country, but want to bring everyone down to their level, people who think college is for namby pamby elites and all people need is to study the Bible. By targeting the interest on student loans, by targeting doctoral waivers of tuition for taxation, they are going along with middle america, Trump nation, who somehow think ignorance is bliss, in a time when the US is losing ground in the very STEM areas that are most going to be hit. And yes, the tuition remission many universities offer are used by people who don't make much, clerical staff, janitors, security people, admins and the like, and it allows their kids to achieve...but I guess to Redneck nation those people are elites, too, and everyone should work at Walmart or be a coal miner, aspire to only the large screen tv and the sixer watching the game and the only knowledge one needs is found in the Bible (okay if you don't read it, you can get the cliff notes version from the pastor).

  123. Non of these so called men understand what public service means. These are not public servants, they are political hacks, for the all mighty rich and should be expelled from the political system for crimes against the American People. The rich are so greedy, that they use the argument that our country is a welfare state, when the real welfare is to the rich. What they do not realize is they are sowing the seeds of their own demise because of the distorted and even delusional thinking of what wealth is, and what makes their precious money worth anything.

  124. There is no ''overhaul'' . There is no ''reform''. There is a massive tax cut for millionaires and billionaires ( creating even more loopholes and amnesty ) at the expense of the middle class and the poor. It will blow a gargantuan hole in the deficit and create more debt that will be insurmountable for generations of children and grandchildren to come. ( let alone trying to pay just the interest on said debt ~ especially if inflation rises just a tick upward ) Oh, and this Congress ( republicans ) is destined to become one large death panel as they continue to pick apart piece by piece ( by budgetary measures ) health care for Americans. This is what you voted for people. ( at least a clear minority of you )

  125. Funky you got it right when will his base read a newspaper and stop inhaling the opium from fox.

  126. You can't argue or persuade True Believers. Truth & logic do not mean anything when it comes to their belief. It matters not if they are for Trump, Clinton, or Moore, as far as they're concerned its 'turtles all the way down.'

  127. It is interesting to see the shamelessness with which the opinioators of Manhatten will continue to condemn the Republican tax bill as cruel and regressive while aggressively defending the two most regressive parts of the tax code that shifts THEIR fair share of the tax burden down the pay scale: the mortgage interest and local tax deductions. Hypocrites!

  128. Yet, it is the Blue state voters who are, and have been, supporting the "poor" red state voters. A travesty that has been going on for too long.

  129. Pure theft from the middle class. Pure, outright, abject theft. I watch with growing horror as Middle America allows itself to be pointed to and laughed at by billionare wolves, teeth glistening as they salivate over the coming spoils, stolen on their behalf by the lobbyists who now make up the Republican Party elite. How did so many in the middle class become so gullible to right wing propaganda?

  130. Racism.

  131. If this passes both the House and Senate, it'll be clear this government is truly no longer for the People and the People need to stand up and scream loud enough to be heard. It's almost like the Republicans want a revolution! I just don't think they realize they'll be on the losing side. And it ain't gonna be pretty.

  132. A major step toward doom. This country just doesn't learn. Guess it is going to take a real depression, as opposed to a deep recession, to wake up the electorate in this country. That's what coming with this kind of "tax reform".

  133. This tax reform proposal in the House isn't perfect, but it is a huge step in the right direction for our tax system. For that alone I truly hope they find a way to get it done. A few points.... Complaints that the reform favors businesses over middle class Americans is preposterous. The reforms to our Corporate tax structure are long overdue. They will promote more domestic investment of trillions of dollars that currently sit in overseas shell subsidiaries or are rather invested in overseas facilities due to tax implications. This alone will create more wealth for Americans, especially the middle class. It's uncertain how much of a positive effect this will have on jobs and wages, but it is undeniable that it will be a net positive and no economist would say otherwise. The simplification of the tax code for individual filers is long overdue. Deductions should be eliminated where ever possible, and yes that means SALT, medical expenses, student loans and mortgage interest. Currently local communities build tax roles under false pretenses and federal rates are tied to complex math equations. Further, inflation in housing markets, medical care, and education costs are currently tied inextricably to this tax system of federal preference disguised as deductions. Enough! There are better and more efficient and targeted ways to help Americans in need of a lifeline than through the tax code. Repealing the deductions will enable a push towards those options.

  134. My tax will go up, and I can't afford that.

  135. At the low cost of money today successful businesses have little need for more capital. Growth will only be `unleashed' if we have a population that can afford to purchase desirable goods. So most capital inflow will go towards dividends for the well-off - and those folk won't buy enough manufactured goods to make US investment worthwhile. Stocks are high now because of higher expected dividends, not because of expected growth.

  136. Oh, it is totally simplified. Losing the state tax credits will eliminate deductions--so much less to fill out! Unfortunately, the effect of this simplification is a tax cut to corporations and the wealthy, and a tax hike for Californians. As for your trickle-down theory: been there, done that. No serious economist believes that worked when Reagan tried it, as one example, and Reagan was forced to agree to raise taxes in his second term, yet the deficit was still massively inflated when he left office. This tax-cut to increase revenue plan is fantasy over fact. Just like it was when Republicans were peddling the Laffer curve, the least viable economic idea of the 20th Century, to "prove" their theory right, My suggestion to the average citizen is to behave like a corporation if this thing bill gets through--transfer your retirement money offshore, then follow it to a cheaper place to live.

  137. Of course it will pass the House. The piper is going to get paid. Translation: donors. There will be revisions in the Senate. But either way, money is involved. The rich want a return on their investment and Republicans will deliver it to them. How on earth they get elected by people voting against their interests i beyond me.

  138. "Bill Signals Top Tax Priority of G.O.P.: Help Corporations". When did our representatives begin only representing corporations? What ever happened "for the people, by the people?" Now it's really "For the corporation$, by the corporation$?"

  139. Congrats House. You really know how to put as much money as possible into the hands of the upper 1% and increase the deficit so that it breaks the backs of our children. This provision, along with the Senate's new provision to cut health care from millions of low income Americans, have made a lot of people mad. Say, 90% of the public. Republicans somehow believe the tax changes would trigger a surge in economic growth, higher wages, and job creation. As has been recently reported throughout several news organizations, there is no evidence that such tax cuts have ever resulted in less debt. Why do Republicans strive to do all it can to lessen tax burdens for the ultra-rich and those who are well off, at the sake of astronomically increasing our national debt and at the sake of removing health care insurance from millions of Americans? And, why do Republicans continue to make false claims to support unpopular provisions of their proposed tax cuts?

  140. why is congress so afraid of dt?

  141. It's not that they're afraid of him. It's that they are so beholden to the deep pockets of their super-wealthy sponsors that they're twisting themselves inside out trying to justify paying them back for their support, regardless of the damage they do to our country. "We, the people" don't count any more. We must change that a year from now. People need to start voter registration NOW. Then, campaign finance reform.

  142. they aren't. They are totally aligned on their goals of helping the wealthy

  143. Let's see which California Congressional Republicans don a reelection target tee-shirt today. Taking away CA property and state tax deductions will flip those seats. Are you listening, Kevin McCarthy?

  144. Call, text, tweet, or email your Speaker Ryan today. Flood every communication portal with a "NO on Tax Bill" messages. Ryan's pathetic, "but we promised" excuse is completely outrageous. The vast majority of the american voters do NOT want the filthy rich and corporations getting any tax cuts whatsoever. Let Ryan know, we "promise" to reduce his GOP to dogmeat in 2018.

  145. I am 69 years old. The deceitful, strong-arm tactics and the long term strategy of destroying the middle class by these immoral, unpatriotic Republicans remind me of stories that appeared in my elementary school Weekly Reader many years ago. These oligarchic actions occurred with some frequency in corrupt, strong-man Latin American dictatorships. We kids were proud, and relieved, that these disturbing events did not happen in our country, America. The U.S.A. had a representative democracy, with checks and balances, that would not allow them to occur. I am not only angry and appalled, but deeply saddened and ashamed that America, circa 2017, under the "leadership" of the Republicans, is turning to that corrupt, strong-man model. Our Founding Fathers weep in their graves.

  146. Me too, John.

  147. Time to leave for a democracy. This one is toast. Pass the bananas.

  148. GOP officeholders and candidates think that big business is going to somehow protect them if they pass this massive giveaway to corporations and rich guys. All of the campaign money in the world will not save GOP candidates when people who actually vote find out what's been done to them.

  149. Unfortunately this isn't true. Those who vote republican won't care, so long as the "others" get hurt worse.

  150. Unfortunately, the people who actually vote for these frauds are incapable of recognizing who did it to them. They are easily led by shiny objects and always respond to dog whistles.

  151. If you hate this tax bill, there is something that you can do. Make a contribution to Doug Jones who is the Democrat running against Roy Moore in the election for the next Senator from Alabama. If Doug Jones wins he will become a Senator on January 3, 2018. His vote could possibly block this bill.

  152. Amen! Roll Tide.

  153. This bill will--unfortunately--be law LONG before January 3, 2018. The republicans will do ANYTHING to pass this give-away to the 1%.

  154. Thanks for the suggestion. Adding to my to do list.

  155. This all brings back a memory of my office in Boston. From the 10th floor I could look out across Summer St. and view a small sailing vessel tied up at the Fort Point Channel. It’s a replica of the ship that on Dec 16, 1773 a bunch of rousing Patriots threw the tea into the harbor, claiming “taxation without representation”. Well I’m a Democrat and my Representative John Lewis here in Atlanta did not have any representation in the discussion of the tax bill, therefore I had no representation. So… maybe it’s time again!

  156. @cherrylog754: There are thousands of disenfranchised Democrats in Texas, too, thanks to gerrymandering. We have no one representing us, either. The Republican party has become a scourge upon democracy as it passes legislation that will benefit only a very few.

  157. In their efforts to pass a block buster tax cut the Republicans are playing games to make sure they lower the liabilities of federal gov't no matter how cynical that would thwart their plan and give the Democrats no influence. They promise that it will cure whatever ails you just as George Bush did in 2001. Then they trotted out Alan Greenspan to say budget surpluses are bad. The usual supply side arguments will be trotted out that tax receipts will go up as taxes go way down. That people who will be not benefit directly from the tax cuts will get big salary increases. One hopes that Blue State Republicans will see this bill is actually a tax raise for middle class people in their states.

  158. This tax bill is extremely unpopular with voters. If it passes, I suspect there are quite a few Representatives who will not be returning to the House after midterms. People are finally catching on to the fact that this tax bill is a reward for the wealthy. If it passes a lot of Representatives will be history. Call yours and let them know how you feel about it.

  159. @Pajaritomt: Most voters have no idea what is in this tax package since it is being made up on-the-fly. Most legislators (of either party) have no idea what is in the bill. Although your comment rings with optimism- unfortunately it defies the reality of the circumstances. I surmise- at least 62 Million voters have no idea and no interest about things that will impact their lives and wallets in the very near future.

  160. From most everything I read about the bill, many in the middle class, in that swing vote area, will see more money in their pockets. From the much higher standard deduction to a potentially slightly lower tax bracket. For most, the $10K property tax limit will have zero effect. 70% of folks do NOT itemize, so the larger standard deduction will help. Well all is said and done, look for the numbers to be pretty close to what Ryan stated. Something like a family of four making about $60K seeing a tax break of over $1000. If it comes to be about that for a large swath of folks, the GOP is NOT going to have any major voter issues. Especially if the economy keeps on a roll and businesses start to hire. And expanding economy and more money in their pockets, what is not to like?

  161. This bill loots the U.S. Treasury and should be regarded as a crime, not as a political policy change.

  162. As a California taxpayer, I pledge to personally raise as much money as I possibly can to unseat any CA representative who votes for this bill. I know I won't be alone. California Republicans, prepare to lose whatever few seats you still hold.

  163. I’m pretty sure they weren’t getting your vote anyway. Nor those of the people you’d be raising money from. So forgive them if they don’t seem too worried about your pledge.

  164. Hear hear to raising funds to unseat Republicans who support this bill. But also consider getting involved YOURSELF, knocking on doors and making phone calls YOURSELF - these will be far more gratifying and possibly more effective than just giving money.

  165. I agree with you, it is unbelievable that California lawmakers would vote for this!

  166. The Republican House is corrupt and has no regard for the American public, the majority of which oppose their dirty unfair bill.

  167. Unless you have a lobbyist working for you then you are on the menu for this House Republican tax steal. The barbarians have been given a license to plunder and pillage by Donnie Fake Hair.

  168. I certainly hope that the Republicans understand that THEY OWN this disaster. If the bill is passed, the name "Republican" may very well become a mere asterisk in history books; a defunct "party" with no moral compass and a narcissistic sociopath as a leader only interested in stroking his ego. Beware what you wish for!

  169. Interesting analysis. Let me guess... you’re a Democrat? Talk about wishful thinking.

  170. Real headline (with apologies to the NYT): Congress Sends Welfare to Corporations, Wealthy—Sends Bill to the Middle Classes and Their Children Never have so many given their money to so few.

  171. To the GOP it is critical that the fattest cats get even fatter. This is priority #1 above all others...marching orders.

  172. If democrats want to reverse their knack for pulling victory from the jaws of defeat, they need to make it idiot clear that republicans are gutting the middle class, and with not so much as crumbs for the poor. When republicans deem it necessary to cut a $250 deduction for teachers who use their own money to pay for student supplies that should be provided by tax $$, they will not hesitate to take food out of a kids mouth. They've ignored the expiration of CHIP. Bruce Bartlett, Bush republican says although unnamed in the bill, next will be 4 trillion from Medicare. This bill isn't worth the thousands of pages it's written on. It's an outrage, a disgrace and leaves no doubt as to the contempt republicans have for those not in the donor class. trump is stacking the courts with unqualified far right cretins, making justice his own personal hit squad and dismantling every agency whose mission it is to govern responsibly and equitably for all. Fish and Wildlife just annulled a law prohibiting big game hunters from bringing elephant and other endangered animal trophies to the US - according to Zinke , this "will enhance the survival of the species in the wild". He's installed a video game called " Big Buck Hunter at interior, with our tax $$. Don Jr. & Eric thank you. Tax cuts create jobs about like killing lions increases the herd. The only elephants that need culling are the deviant two legged variety, now rapaciously razing our habitat for democracy.

  173. This is the worst episode of The Apprentice ever! Fire the lot of them, including the chief apprentice.

  174. Just another bill to help the corporations that are owned by the congress people who have to be very rich to even be in congress. Disgusting.

  175. It would be a mitigating factor if corporate governance worked so that share holders of public companies were put first. Unfortunately, all to often the the business elite just take care of themselves. ...Immelt and that kind.

  176. It's all about demand, if there is no increase in demand then cutting taxes will not increase employment. This is a fiction supported by the greedy GOP>

  177. Yes and by alienating our allies, tearing up trade agreements, etc. I would think that our ability to increase demand on the international side willl be compromised as well.

  178. Californians - Time to pick up the phone and call each of the 14 Republicans from California and lean on them to oppose a tax bill that is specifically targeted against taxpayers in our state. We send more Republicans to the House than Alabama, Alaska, Kansas, and Wyoming combined, and our delegation, even if they are Republican should be protecting the interests of our citizens, not those in small red States.

  179. Or, pick up your phone and call your state representatives and demand they lower the hellacious tax rates imposed throughout the state. Also, there are large swaths of CA that will NOT be hurt by this bill. The brunt will fall on those in the SF, LA and San Diego areas, not Modesto, Chico and Barstow.

  180. The fact that this proposed bill was shoddily and rapidly written should be alarming to every American. The fact we only learned yesterday that written into this hilariously self-serving piece of trash is yet another attempt to undermine the ACA, by repealing the individual mandate, should be enough to sink the bill. When will the GOP actually do something in the best interests of our people, and not in their own best interests, or those of wealthy people? Our future and that of our precious Constitution depend on what we do here and what we allow the GOP, a party hell-bent on revenge, to accomplish.

  181. The ACA, which was itself a shoddily and rapidly written bill. You realize who gets a direct benefit from removing the mandate? First, those that were already out of the poll and paying it. A direct tax rebate to them. They are not gonna be unhappy. Removing the mandate does NOTHING to benefit the wealthy at all. Zero. It is middle class rebate.

  182. Americans should pay the same federal taxes regardless of what they pay in state and local taxes. If taxpayers think state and local taxes are too high, they can vote to lower them.

  183. Taking away the exemption for state and local taxes means people are double or triple-taxed on money they only earned once. People in states who have low or no state taxes will essentially have a lower overall tax rate. These are typically red states, which pay less to the federal government than blue states and receive more federal assistance. How is THAT fair?

  184. William Case.. In some states taxes are too low! My Federal Government sent Tennessee in 2014 $10.5 Billion Dollars. About $1600 per person or 39.9 % of general revenue. They ranked 3rd in state receipts from the federal treasury. This was all deficit financed. Mississippi ranked first. https://ballotpedia.org/Tennessee_state_budget_and_finances#Revenues

  185. I'm good with that, as long as all the taxes I pay stay in my state, less my contribution for defense. Connecticut pays more in federal taxes than it receives in benefits, I'm tired of supporting those freeloaders in states like Alabama, Mississippi, and Louisiana!

  186. Election has consequence. The Democratic voters are too lazy to vote and the purists sit home because they did not like candidate. Black Live Matters made every obstacle . Now we all suffer. We the liberals never learn lessons. This is the time we should punish the House members specially in high tax states like NY, NJ and California who vote in favor this middle class punishing tax bill. We must defeat them . We have to turn the House to the Democratic party. All of us have to do whatever way in our capacity to defeat these Republican House members who have no loyalty to their voters. Donate $1, $ 5 or make phone calls, talk to friends, coworkers, relatives to vote for the Democratic candidates. Or at least come out on election day and vote. The Republican voters are militants and regimented. We have to learn from them. The matter of fact is that We Are Majority or silent majority.

  187. Keep in mind that the "leadership" knew this bill would be a hard sell back home for Republicans in NY, NJ etc. Since they knew they had the votes, probably told the Blue State repubs it OK to vote against the bill with no reprisals so they could say "I voted against it" I live in NY, and have a republican congressman. Met him a few times and he seems like an OK guy. Even though I am Republican for 35 years next year I will not vote for him. Time to turn the tables. Gotta go- Ryan is on TV gloating and smirking with rest of them. Hate saying it, but this process is really making me bitter, and when the R's are out, hope they are punished. When we need more money for Social Security etc in a few years tax estates greater than 1 million, cap gains and dividends go to regular income, you get the idea. And health care for all should be a Constitutional right.

  188. excuse me? This tax bill will force states like NJ, NY and California to have to cut the waste and cut their budgets. This is a brilliant idea. Those states are controlled by Unions which are the ruination of the nation!

  189. Well said Ashraf, and the best advice you give is to get out and vote. If Dems had voted in the same numbers as they did for Obama, Trump would be back selling real estate instead of peddling lies. And no, I didn’t and still don’t like HRC, and that’s a failure of imagination on the part of the DNC as well as cronyism. The past is the past. It’s up to the DNC and us (as you note) to take back leadership of our country. Because whatever Trump and Co. represents, it isn’t leadership.

  190. The Republican Congressmen who vote NO on this unfair tax bill are heroes in my book.

  191. you obviously dont have any investments or a pension plan or a IRA! if you did you would greatly benefit from this tax reform

  192. Don't let 'em off easy. The GOPers who vote NO would just be doing the bare minimum of their job to preserve, protect, and defend the Constitution. The GOPers who see all the malcompetence of their party, especially their hideous White House occupant, House Speaker, and Sen. Maj. Leader, and decide not to retire but to apologize and caucus with the Democrats and other sane Congressmen? They WOULD be heroes, if any ever do.

  193. No they're not. It's a lot of cold calculations. Our Republican congressman knows very well that he can vote no on this bill and avoid the ire of a lot of naive voters on Eastern Long Island, all the while knowing that the bill will pass the House. What I wonder is how he sleeps at night. But I fear the answer is very well because he, like the vast majority of Republican congressmen, has no conscience.

  194. This is a payday for the sake of your mega-donors and gross egos, Republicans and especially McConnell and Ryan. Remember you will not always be sitting where you are currently. And, we will remember every one of you who are catering to special interest rather than representing the welfare of the people. Stop lying about the impact of this bill -- we are not all ignorant and un-educated about you are doing.

  195. Aw, we don't remember squat. If we did Newt Gingrich couldn't show his face, let alone make a nice living for himself and his current wife.

  196. They're also busy approving quack judges who will addlepate the federal judiciary for the next two generations.

  197. All one needs to do is look at Kansas to see how badly this latest bill would fare for the vast majority of people. The GOP has been taken over by the big donors that bought them their seats and now they are collecting on their debt.

  198. You got that exactly right.

  199. "Tax overhaul" my backside. It's a corporate give-a-way that the middle class is gonna pay for. This is absurd. The tax cuts expire in 2025 for everyone but corporations. This is an "overall" of the middle class just getting by to a system where they will get even less and pay more for health care to boot. How charming of the republicans.

  200. "The tax cuts expire in 2025 for everyone but corporations. " It is done this way only for accounting purposed. In reality, it will be extended past 2025, what politician is going to run and get elected on "yes, I will raise the taxes on the middle class." Ain't gonna happen. How are you gonna pay more for healthcare because of this bill? The only thing that could affect the price is the removal of the mandate which will 1) lower the taxes for the folks that don't pay it and 2) any pressure from folks not being in the ACA pool only affect the ACA premiums, which most working class folks do NOT use, they have work insurance.

  201. What we need is a 40% increase in the minimum wage not a 40% decrease in the corporate tax rate.

  202. I agree that minimum wage should be raised. I always thought that the Dems should pass a minimum wage increase combined with a corporate tax break - move to a $15 wage, mandate at least $2 per hour goes to health care, and a 5% contribution to a retirement plan, while eliminating the corporate income tax. So your tax reductions would occur, but your entitlement spend would significantly drop. This is just adding to the deficit and making the country poorer.

  203. Both of your :ideas" would make American corporations even more non-competitive internationally than they already are. By the way, you do realize that the current corporate tax rate of 35% is the highest in the industrialized world. That's why companies like mine relocated their corporate headquarters to Ireland.

  204. Make it a 40% minimum wage increase and a 40% corporate tax increase. This will begin to reverse the massive income inequality underlying the unconscionable power inequality. Put 40% on a hat and "Take Our Money Back" on a T-shirt and you're the next President. Too bad the Democrats are too small-minded to champion this, which is why they will never get the passionate turnout needed to win.

  205. This tax bill hurts many americans with ACA mandate to be added so people won't get health insurance. What a shameful act. I was rejected by an ordinary health insurance I have stage 3 cancer. What do I do now? This bill undermines the middle class but gives more to the billionaires out there who don't have to worry about health care. The drain the swamp that was promised wasn't the truth telling Trump said he would do instead he added to the swamp with bis cronies and buddies. It is about the collusion with Russia and the wrong doing to dismantle every shred that the last president accomplished. The GOP and their ideology is a sham that all they think about was the "promises" they want to keep instead of thinking about the middle class. Small businesses will be hurt by this bill. These people don't represent all of us ordinary folks. After all they are all millionaires and have been taking advantage of all of us. it's time to vote them out we need people in office that is looking out for us the ordinary hard working people NOT in Washington DC.

  206. Don't really understand why anybody in this country believes more than about 5% of what they say. I mean, I went to public school & paid attention every so often. But now after a lot of reflection (a few minutes) I can see why the founding fathers DID NOT want everyone to vote. They had their biases against women, racism issues, etc. but after those are factored out, the founding fathers (who apparently also attended some sort of schools or learning institutions) knew that bad decision making (I'm being so nice here) runs rampant. They hoped to prevent the election of a Trump & the dissolution of the fledgling country into pure dystrumpia. It worked for over 200 years until redness overwhelmed the system.

  207. This does not change the ACA - just says that if you do not want to buy insurance you do not have to. You can still get coverage on a guaranteed issue basis. There is no basis or reason why you would have been turned down by an ordinary health insurance....that seems false. This would not change that. Not saying that the removal of the individual mandate is not harmful to the health insurance market, and some carriers will drop out. But this does not change the guarantee issue of the ACA, nor the fact that you can still get subsidies to help pay. 2/3 of the individual market is now getting subsidies. The ones who will drop out are the ones who are paying full price.

  208. I only make 30k per year. The ACA repeal is tax relief for me. I can't afford a racket where I pay for all the healthcare I use because the deductible is so high, then the insurance is 300 a month. It covers only the gravest of emergencies. So tired of the Democrats. I will vote Republican until Democrats start doing something to put money in my pocket.

  209. It's not a tax "reform" and it it's not a tax "overhaul". It is a tax scheme. If you wish to be neutral, call it a tax bill. Stop publishing slanted news.

  210. Perhaps more accurately: A tax cut for the rich, and a tax hike for the middle-class.

  211. Exactly. And it's not "entitlements" (NYTimes, you even quoted someone implying Social Security is "welfare") it is, as Bill Maher said, "earned benefits." NYTimes you are truly so far from liberal with your language.

  212. I'm sorry, but to rush this so called reform through just to say they accomplished something, with no input or debate with the other party, to change the rules in order to force this through, a tax bill that will have extremely negative effects on many many Americans is truly a reckless, egregious, bordering insane act. An undertaking such as this should take years of careful planning, bi-partisan support and input, and be of benefit to all, not just the moneyed and business class. Weeks of throwing this hot mess together to vote it through before they lose their tiny majority that does NOT represent the will of the voters (less that 25% support this - either party) is doomed to failure, whether it passes or not. Corporate America has already said that few jobs will result, but their profits will rise. The middle class will suffer. Seniors will suffer as Medicare is reduced. The poor and working class will lose health care. The middle class will pay more so the 1% can pay less. So Donald and those of the billionaires club can pass huge sums onto their offspring unearned except by birth. There is only one word for this action, Egregious.

  213. Here's to hoping this has as much success as when the House passed their Less Health Care for most, huge tax cut cuts for the wealthy bill.

  214. Wish we could have a popular/electoral vote on this by the people and see how it plays out by those that voted for Trump a year ago. Corporations get a tax cut but are not signing anything that would require them to create new jobs. And the middle class and poor will be in a losing situation.

  215. Where are the public hearings? I just called Doug Lamborn's office- the best they can tell me is that "it's going to be good for everyone". When questioned about the huge deficit we can expect by just gambling that we are going to have this giant magical growth by cutting rates for corporations, then it seems to be some sort of faith article that the 180 degree turnaround that our legislators are doing is now a good thing.

  216. “The intent of our tax reform bill is to achieve tax relief for individuals at every income level in every state,” Mr. Brady said. A very thinly veiled way of say that the rich need tax relief, too. Which they don't.

  217. Have any Republicans stopped to consider the impacts on the housing market if local taxes and mortgage interest are no longer deductible? Has anyone tried to put a dollar value on the loss of capital that would result from the diminished equity in homes if these deductions are lost? It seems pretty clear that removal of these deductions will make home ownership more expensive and the housing market would adjust by lowering property values. The loss of the deductions would extinguish billions perhaps trillions of dollars of home equity across the country. This would surely lead to less household spending and, perhaps, a recession. Meanwhile, much of those tax savings to corporations would go to foreign investors and wealthy individuals, effectively leaving the U.S. economy. This thing is a train wreck. To all congress people with any sense left, please do not approve this bill.

  218. If this is "a signature bill" for the Republican party, it will become, I would predict, an albatross around the party's neck for years to come. This is in no way, shape or form "tax reform". It represents yet another gift to the most affluent corporations and individuals, including President Trump's enterprises. It amounts to a significant tax increase for poor and moderate income Americans. The increase in health costs alone reflects what amounts to an increase in taxes and a loss of services, and additional long-term taxpayer funding of the deficit. Rather than a responsible addressing of the nation's budgetary requirements, they again--as in past Republican tax plans--demonstrate any true fiscal conservatism, or any regard for the services government ought to provide its citizenry.

  219. Agreed, but it's going to take many years for this to become obvious. GOP voters will say "why didn't anyone tell us". Then 6 months later they will return all the GOP congresspeople that voted for this. That's the sad part - there is no way out of this trap as long as conservative media leverages fear and hate to get voters to support actual policies that hurt them. There aren't enough multimillionaires to elect ever one member of congress.

  220. In some form or another, this will eventually pass the Senate. As much as this policy is designed to funnel enormous wealth to the top and do the bare minimum for everybody else, tax policy is too complex to raise the obvious red flags that soared up during the Affordable Care Act repeal process. There is simply no tax equivalent of the "20 million Americans will lose healthcare" soundbite. Government services will be completely underfunded, the wealthy few will make out like bandits, and regular people will be stuck carrying the load. But it's going to pass. Prepare yourselves.

  221. Repeal and replace Obamacare also passed in the House and look what happened to that. I think we can allow ourselves to feel a little hopeful.

  222. Can one of the authors of this article please explain why failing to rob people of health care coverage earlier this year was a "catastrophe"? 11th graf

  223. No, the wealthy few will not make out like bandits, as in most cases they do not have income. They have Companies that supply their needs and pay for most things as a business expense. 100% of nothing is still nothing.

  224. The House passed a sweeping rewrite of the tax code on Thursday, taking a significant leap forward This isn't everyone's idea of forward.

  225. It’s naive to think that corporations will use a tax reduction to invest in workers and production capital. What is far more likely is that the money will go to 1) increase dividends to share owners, and 2) buy back shares on the open market. Both of these efforts will boost the price of stocks. Why is this likely to happen? Most executives and other senior management are compensated in stock and stock options, and are measured by how well their stocks perform. This essentially allows management to give themselves a raise on the backs of lower and middle income taxpayers, who will get less and in some cases pay more. As for tax cuts for the wealthy, which will be proportionally larger, that money will go into existing investments. It will not be spent, it will not increase growth/GDP, and it will not “trickle down” to lower and middle income taxpayers. It’s a giveaway for corporations and the wealthy, nothing more.

  226. History shows that corporations will use the money to buy other companies and lay off workers. Never has a corporate tax cut resulted in new jobs or raises for existing workers. Raises for the top executives, you bet.