Comments allowed here all seem to have been written by the same person. Is it really true that 99.44% of all New Yorkers are extreme left-wingers? 98% I believe.
1
Congratulations on passing what should be called the Salvator Mundi Tax Bill. It was widely and falsely advertised as the Savior of the World, but really is just a gift for a very few ultra-wealthy, who likely will remain shrouded in foreign tax havens, and Christ certainly never would have approved spending this much money on that.
4
When (not if) Trump relocates to Florida following his political demise, his estate on his death will benefit by between $1 billion and $3 billion if the proposed tax changes to the estate tax rules make it through the Senate.
I wonder how many of his 'base' from the middle class are aware of that probable outcome and if so, whether they are accepting of it knowing now that's they're beng stiffed by their 'saviour'.
6
Let's just remember how these Bills are being passed. Whatever is being done CAN JUST AS EASILY BE UNDONE, given the correct choice of Congressmen. I don't need to spew invectives over this tax issue. Cutting corporate taxes so outrageously while trying to take away the health care protections that any civilized society would provide with no debate at all indicates the immoral and sickening conduct of the entire - ENTIRE - Republican Party.
6
Why is it that Bob Menendez of NJ was on trial for corruption, but both Lindsay Graham and congressman Chris Collins of NY are not? Both admitted in the open public that if they don't pass this "tax reform" bill they will be done receiving money from their donors! This is classic pay to play, so why is it not being investigated? Come on NYT...look into it.
13
Already, 48% -almost half--of our school population qualifies for free or reduced lunch because of low income. (To qualify for free lunch a family of 4 has a gross income max. of 31,980 and to qualify for reduced lunch a family of 4 has a gross income of 45,510.)
In order for more corporation's CEOs to be billionaires and for the top 1% to get tax relief we are further taxing those who have not. ("A new analysis of the Senate bill by the congressional Joint Committee on Taxation could further complicate the bill’s trajectory. The committee said on Thursday that in 2021, the legislation would increase taxes for those earning $10,000 to $30,000. In 2027, after the individual tax cuts expire, the committee projected that those earning $75,000 or less would face higher taxes.")
This reminds me of the middle ages. The gap between those who have and those who have not are getting wider and wider. Why should the poor be taxed more so the rich can have another gold plated faucet in the bathroom of their yacht?
4
Eliminating deductions for middle income families is not tax reform, it's government savings. And, cutting taxes an average of $1,100 for middle income families is not a tax cut, it's a two day vacation in the Bahama's. Take away the smoke and mirrors and you will find that poor will get poorer and the rich richer and that's the name of the game.
7
The day of reckoning will arrive for the Republicans and it cannot come too soon.
The elimination of the state and local tax deduction, which has been in place since the inception of the federal income tax in 1913, will hurt millions of middle class Americans. Add to that the elimination of the personal exemption, which helps families with at least two children, and the medical expense deduction, which helps people coping with expensive medical treatments, and what you have is a massive tax cuts for corporations and the wealthy and peanuts, or less, for the rest of us.
This is not tax reform. It is the pillaging of the lower and middle classes. Shame on the Republicans and their legacy of favoring only the wealthy in this country.
11
Hey, all you Middle Americans out there - what a great bill for you! You'll now be able to pass along to your kids tax-free more than the paltry $11 million dollars the present system permits. Your kids will be rolling in dough! And that private plane you own? A new break on the fueling charges and expenses for your private pilots! And the golf course you own? New tax breaks there, too! Whoa - this is gonna be great for you!!!
13
If the Senate bill was any better, I'd assume that the House took the most extreme and outrageously unfair position possible in the hope for a compromise. But both of these bills represent a massive redistribution of wealth to the rich at the expense of the middle class and poor with a huge increase in the debt and a threat to Social Security and Medicare.
13
Helping corporations by cutting their taxes is a myth. They have armies of accountants that find tax loopholes so they end up paying less than we do. What it does is does is make it easier to them to find even more money for their stockholders and CEO's. Tax reform is about shifting the tax burden to low income earners and cuts are about corporate cuts so that the countries wealth stays with the wealthy. There should be book on "How a Real Estate Developer conned America into giving their benefits to the rich."
11
Is this the suicide of the Republican Party? Or is it the swan dive of the United States into feudalism? The next few elections may be crucial, assuming of course that they actually take place.
12
Helping corporations by cutting their taxes is a myth. They have armies of accountants that find tax loopholes so they end up paying less than we do. What it does is make it easier for them to cut taxes further and make more money for their stockholders and CEO's. Tax reform is about shifting the tax burden to low income earners and tax cuts are about corporate cuts so that wealth stays with the wealthy. There should be book on "The Big Non: How a Real Estate Developer tricked America into giving their benefits to the rich."
12
Trump just made a billion dollars this year as POTUS by getting this tax cut. Not bad for a year's worth of work.
2
To West Coast complainers here - You FAILED to pressure your Republican Representatives to vote against this bill.
In NY and NJ, we convinced our GOP Reps to vote against. You didn't.
I emailed and snail-mailed 350 neighbors in our Village to write and call our rep. I stuffed 120 envelopes.
You didn't.
Our GOP Rep voted against. Yours voted in favor.
How dare you come here to complain.
2
Poor old Orrin Hatch. Has he become senile and actually believes that that "trickle down" nonsense works? Or is he merely lying about it, as are so many of his colleagues?
2
It's not where he came from but rather for whom he works, and that makes Hatch a sell out to the people he absurdly claims to represent.
3
It is truly unfortunate that we permit our "lawmakers", aka Congress, to pass into law any bill titled "Tax Bill. It is also unfortunate that we the public never bother to examine the past historic results of those patchwork quilts which come from Congress labeled as Tax Reform. The usually do nothing to "reform" and they benefit year after year those who do not need to be "benefitted" - the already rich. Here we go again! Do not hold your collective breath, America, waiting for your taxes to become less.....................
1
If tax cuts are good for the economy, then tax elimination would have to be even better. Lets get rid of all taxes and simply live on borrowed money.
As far as the ballooning debt goes, keep in mind that no matter how big a number it gets to be, you can always make it bigger. What about the interest you ask, no problem, just a little additional borrowing and it is paid.
I would suggest to President Trump that he issue a pardon to Bernie Madoff. That way he could can that piker Steve Mnuchin at treasury and put Bernie in his place. Bernie made a lot of people rich and all be needed was a small office and a dot matrix printer.
2
Our so-called Congress has never understood the difference between "tax reform" and "tax bill".............
1
I heard they're not removing the ACA mandate after all. Not surprising. Too cruel to working class. Make 25-30k, barely anything and pay 300 per month for a plan with a 6k deductible, pay for all of your care on top of it. But hey, it helps someone somewhere, so who cares who it harms right? Thanks Obama!
Small things can make a big difference. When graphics on TV or in print compare large numbers I often see tax bill numbers such as 500 billion vs. 1 trillion. I think this tends to minimize the impact of the difference in the comparison of the two.
If it were stated as 500 billion vs 1000 billion the difference is more stark
1
Where is Bernie Sanders?
Wasn't he leading a revolution to erase income inequality, give free tuition to every student, give Medicare to all, and so on.
Well, the tax cuts for the wealthy bills that are being worked on by the Republicans do the complete opposite of the revolution ideas. The bills increase inequality, imposes taxes on tuition, taxes student loan interest, deprives 15 million Americans of healthcare, and more.
Why isn't Bernie leading the opposition and rallying hundred of thousands of people in Washington to demonstrate against the tax cut bills?
1
Tell me what this administration has accomplished in the first year apart than deceiving their electors or showing their childish revenge to those not blindly aligned with their self-interested plans.
5
This bill will cause a housing and economic collapse. I plugged sone numbers into my tax software. If the state and local tax deduction and/or property tax deduction goes away, my taxes will increase by thousands in 2018, assuming the same 2017 income. If my tax bracket goes up, it will be worse. The republicans dont care. Trump will make billions, and so will their donors and the wealthy gop congress men and women. Everybody else will pay higher taxes and loose social benefits.
2
I really want to cry, how do we stop the government of this minority, a rotten government in all its levels, from #45 to Mr.Alabama Moore. Democracy is not only to vent on the comment section of the NYT, democracy is a system that works for all its citizens. Are we in a plutocracy? And, do we have to learn to speak Russian too? Tragic.
4
It is a pretty amazing to watch a first world country work so hard to turn itself into a third world country. There's the kleptocracy, Trump taking taxpayer-funded vacations to his own resort and Mnuchin wanting military planes to fly him and his trophy wife around. There's the defunding all the various public services, and pouring all the money into military spending. There's the authoritarianism. Of course, we also have widespread belief in irrational superstition. Like trickle-down economics, for example.
5
Why does the front page headline call it a tax cut? It's NOT a tax cut for me, for many other middle-class families, or for grad students.
2
I think we're reaching end times now. Humans have reached their capacity for cruelty, depravity and greed.
2
Read your Krugman, Folks, read your Krugman.
https://www.nytimes.com/2017/11/16/opinion/trump-tax-plan-hate.html
Everything else is voodoo economics.
It was particularly disappointing to see Margot Sanger-Katz in The Upshot:
https://www.nytimes.com/2017/11/17/upshot/tax-reform-individual-mandate-...
giving "some say the earth is round, others say it is flat" cover for the health care economics nonsense the Republicans are trying to peddle with the repeal of the individual mandate in the Senate bill, which will take precedence in this respect over the House bill.
With 13 million people opting out of health insurance, just watch how their "Freedom of Choice" short term thinking gets chucked aside when they have to go to the ER, and society as a whole gets stuck with their bill at premium rates.
Warren Buffet can afford to go to the ER without health insurance. (Not that I am accusing Buffet of being Republican on this issue. I am not, emphatically. I just could not immediately think of a Republican biggie who might exercise his "right" to go uninsured. Maybe that sociopath Martin Shkreli?) Most of the rest of us cannot.
And the notion that the Republicans are providing through their so-called tax bill incentives for people not to prepare for catastrophe, let alone their day to day health care needs, and those of their children, is beyond shameless.
It's socially criminal.
2
How old were you when you became brainwashed into believing the government has a right to take your money? There was a point in time that the revenuer was despised and chased out of town. When did you think it was cool to pay taxes? Man, you people are sick.
1
...and the seniors get stiffed. I wonder who benefits.
Too cowardly to put in place a flat tax with no deductions. Want to show that they are doing something by putting in a tax overhaul (reform issn't appropriate) that benefits corporations at the expense of seniors but still keeps the benefits for the lobbying constituencies.
This from a Republican - just wait for the next election.
"America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves."
- Abe Lincoln
3
This is absolute government NOT by the people or for the people. Between this and Citizens United, the balance of any form of equality is completely gone. Anyone involved in this or who voted for this should not be anywhere near government. It's time to "rip and replace."
2
As long as people keep keep voting for Republicans against their own interest there is nothing you can do. I don’t even feel bad any more for the middle class who put Trump in place because he promised then what they wanted. Any way they are not going to learn. They will vote again for Republicans as long as they are against Obamacare , anti abortion, anti women, pro business , anti union , anti climate change , anti world, anti NAFTA , pro military.
The guys who put Trump and Republucans in place are the most who are going to get hurt and guess what, they deserve it.
I still think it is a misnomer to call it an overhaul. It is not comprehensive enough for that title. It is more of a partial rearranging of the deck chairs. A true overhaul would have looked into far more areas for deletion or improvement, or possibly changed the whole system entirely. Its a hodgepodge of changes, switches, and gimmicks unfortunately.
Headline should read :
Republicans Pass Tax Bill for Corporations - Adds Trillions to Deficit!
2
“Donald Trump is not an anomaly. He is the grotesque visage of a collapsed democracy. The creeping corporate coup d’état that began 45 years ago is complete. It has destroyed the lives of tens of millions of Americans no longer able to find work that provides a living wage, cursed to live in chronic poverty.” (Chris Hedges)...
As for Social Security, Medicare and Medicaid, my intuition has always told me that once the greatest generation was gone, after they sacrificed "everything" for the war effort, the morally bankrupt oligarchic elite and the lawmakers who have been purchased to implement their agenda, would begin to come after these programs. It's now happening.
4
where are the Democrats? Shooting ourselves in the foot, wracking our brains to figure out a punishment for Al Franke, whose rational advocacy is something much needed in this awful time in history? Let us hope that at least4 republican senators will vote this abominable tax scheme down.
4
How can people be so heartless? How can be people be so cruel? Easy to be Hard, Easy to Say No! Especially people who "don't care about strangers", especially people WHO DON'T care about social injustice, Just about Being Proud, Not About "We the People". Guess we know about who these people are now. Every Yes Vote will be published in 2018. Shown your true colors and its not for the COMMON GOOD. Just remember Social Security and Medicare will be next for all those who still pretend Republicans Have Your Back. They just sold you out to Economic Slavery!
2
The Republican tax plans additionally:
1. RAISE THE COST OF HEALTH CARE by eliminating the deduction for medical expenses, especially for older Americans, whose medical expenses tend to be higher, and who are more likely to be living on fixed incomes, and
2. INFRINGE ON STATES' RIGHTS by taxing the taxes we pay to support our state governments, making it difficult for states to govern themselves as they choose.
Didn't the president pledge to make health care less expensive? Hasn't Congress given lip service to this principal?
Hasn't "States' Rights" been a cherished Republican cause? Isn't it used to thwart everything from civil rights to environmental protection enforcement?
What part of the definition of "fraudulent" do the Republicans not understand in voting for this tax bill?
1
Dear House Republicans
We will remember how you betrayed us. 2018 - payback time.
3
The elimination of $4050 personal exemptions in this bill gets little attention in the press, but will increase taxes for people over 65, families with children, and the blind. Currently my spouse and I can claim a total of four personal exemptions (one each regular and one each for being over 65) for a total of 4 x $4050 = $16,200. This all goes away in the new tax plan, the tradeoff being an increase of $12,200 (from $12,200 to $24,400) in our standard deduction. We have itemized deductions in the past, but if we choose the standard deduction that means our taxable income increases by $4000.
Our state income tax deduction also goes away.
The meager decrease in our marginal tax rate will not make up the difference.
Thanks for my tax cut, Republicans!
1
I gotta kick out of watching Orin Hatch, a compulsive liar, spew his righteous indignation at Senator Sherrod Brown over this insane tax bill. The man is delusional. "I come from the lower middle class," he rants, yet he continues to support this trickle-down-on-steroids nonsense. I wish I understood these Republicans. They seem to have absolutely NO problem peddling one massive lie after another while they pass a bill that IN FACT will punish the middle class and transfer even more wealth to the rich.
4
These men look so proud and pleased.
The photo seems a statement of men looking happy having served their corporate masters.
What values are they proud of? I am embarrassed on their behalf.
I hope the middle class is observant enough to understand that every single extra dollar they pay in taxes if this goes through is either being used to create royalty (nixing the estate class, getting rid of the AMT) or to reward companies for hiding their profits in the Cayman Islands, the British Virgin Islands, or in Double Irish with a Dutch Sandwich.
If you liked this country with its odd ban on titles of royalty, it's Bill of Rights that you now need a million dollars in lawyers usury to afford, and its strange belief in government of the people, for the people, and by the people, you should oppose this permanentization of the Robber Baron class as genuine royalty, not just for what you will be losing in dollars to the uber-wealthy but what you will be losing by taking one more step toward your being owned by them forever.
1
Republicans want to cut Medicare to fund tax breaks for the richest people in the world and massive corporations!? Cut Medicare? Seriously? Most people on Medicare are barely surviving now! The GOP has adopted the governing style of kim un jong, utterly unconcerned with the welfare of the average American so they can lavish wealth on their pampered donors. Watching the elderly and the poor struggle to survive has become a spectator sport to the Republican Party. The Hunger Games was less savage in its callous disregard for humanity. Who knew it was also prophetic?
3
Republicans want to simplify the tax code and issue job creating tax cuts.
Here's a simple solution, tie corporate tax cuts to payroll numbers. This will give tax breaks to companies who actually create jobs in this country and give nothing to companies who offshore jobs and the money movers.
Oh wait but then $7 million dollar Paul Ryan and $32 million Mitch McConnell won't get any benefits from their bill. Most of all Trump won't get any of his $1 billion bonus from his failing license businesses. Time to open more shell companies.
All you really need to know is two facts at the opposite ends of the spectrum: corporations and Wall Steet types get their taxes cut from 35% to 20% while you get a percent or two, and on the other end, teachers lose their bog, big $250 deductions for the school supplies they buy for students.
For these things, you are promised that Congress "will fix that later."
But hey, in return, you DON'T get:
1. Any requirement at all that corporations and Wall Street spend a single dime on wages or infrastructure.
2. Any closing of a single, solitary corporate and Wall Street tax loophole.
And here's my fave rave part: know anybody who's in grad school, working ther way through on a teaching assistanceship, or getting a stipend or a tuition waver?
Plan is to tax all that as income. So if you're working class and getting through Stanford on a waiver and maybe a grand a month stipend to live on, your taxes will lump that together with maybe, oh, $40 grand a year tuition, and tax you on all that.
Enjoy, suckers.
2
Sally Raritan NJ asks, "Hi - what is the middle class supposed to do about this? Do I call up my local representative and complain?
S.P. New York asks, "Where is the resistance. Why is there no uproar about this travesty of a bill?"
WE ARE IT, Sally and S.P. Call your senators, house and state/local lawmakers right now and tell them to OPPOSE THIS BILL. Oppose ALL supposed tax reform while the Robber Barons control things. Here are links to U.S. Senate and House members.
CALL, WRITE, E-MAIL AND/OR TWEET NOW.
https://www.senate.gov/general/contact_information/senators_cfm.cfm
https://www.house.gov/representatives/
2
I should not be surprised that a Congress who supports a President who lies, financially benefits from his office, promulgates racism, sexism, and xenophobia, and, who has populated his Cabinet with secretaries who are against everything their departments stand for, has passed this outrageous and menacing bill, but I am.
Congress knows tax cuts lead to deficit spending on necessary expenditures-- Medicare, social security, infrastructure, police and firefighters, environmental protection.
Next, they will call to slash deficit spending, from their self-created deficit.
People will lose their healthcare--next year, 11 million, over time, even more.
Permanent tax breaks for corporations enrich only shareholders and CEOs. New jobs creation and job training in the US stopped in 2007. They hold record amounts of cash--profits earned in foreign countries, where they will continue to invest.
By 2026, the majority of families--73 million--who earn up to $86K annually, will have zero tax reduction, zero health insurance and zero new jobs created by wealthy corporations.
It's a bleak forecast, but evidently, voters who heard only two words, "lower taxes", with no thought to consequence, are happy. They'll feel the pain soon enough.
This plan represents an ideal America to Republicans--an oligarchy, not a democracy. They're rich, they will benefit. They have lost any sense of fair government, ethics, equal representation under the law, and why we need tax dollars.
10
Come on, Times. This is not a "tax cut" unless you're a billionaire.
3
The Republican party is jubilant as it imposes the New Gilded Age of America.
All Hail the Oligarchy !!
1
**The Senate version of the tax package was approved by the Finance Committee**—
Hillary Clinton's running mate, F C member and #resistance leader Tim Kaine, voted for this very budget.
Who was it that said the Dems exist to enable and assist the GOP? Help me here.
Misleading headline. Its only a tax cut for the wealthy. the rest of us will pay for the richest people' tax cut. I definitely will have to pay more of my modest retirement income to support the filthy rich. Pf cure the Trump supporters will find some way to blame the liberals.
1
Tax Reform is the subject. In reality, this is another way and a different place to seek a reconciliation for the government's budget process.
In this whole exercise, there are two words which are being ignored - Deficit and Debt.
Instead of cutting taxes, why are the proponents not looking at other avenues to create revenue and job growth. Would it not be a better idea for government to invest on infrastructure projects? This is an area where there will be jobs and income, benefitting many sectors.
Something I worry is how the proposals would create increased debt, and resulting in government's inability to finance the desired services to people.
Also, I am not convinced that a cut in taxes for large corporations and the wealthy, would help create jobs and additional investments? This is wishful thinking. Something you are hoping will materialize and with uncertainty. This is like you are in partnership with another individual. And, your partner is requesting for a withdrawal of funds on future profits.
Just like in the case of attempts to repeal the ACA (healthcare), our elected representatives are rushing to judgment. This is politically motivated, and not having the desired research and study, as to how the tax reforms would impact the people and the country, now and in the future.
4
Historically older voters are more conservative and vote Republican. So why does it seem the Republicans are purposefully lining them up for pain?
Many of those in the Congress are of the Baby Boomer generation - exactly the group that they seem to be targeting with loss of deductions related to the American dream of home ownership and their future well being cutting Medicare/medicaid after a lifetime of paying into these programs. I guess those voting feel insulated by position or/and wealth (or have gigs with their donors waiting from them when they get out) from the pain they plan to inflict on their fellow Boomers.
So many played by the rules for there whole lives and now, when they should be at the top of their income, and looking forward to retirement the Republicans come along and change the rules forcing more to keep working or better yet, just die. But in the meantime Vote For Us! And you know, many will.
6
A handful of extremely corrupt, insatiably greedy, socially unconscious individuals have gotten control of The United States of America governments at all levels. They are headed by the Koch brothers and other inherited-wealth, inherited hate war mongers and The Con Don is their talking head. They are intent on trying to destroy the lives of 99% of us - and the planet - with their demented vision of "greatness".
We can debate how we got here. We can fuss and yell and scream. We can scramble around and try to protect ourselves. We can watch our children and grandchildren prepare to live in a 3rd world environment where madman-created war, death and destruction are the norm.
OR WE THE PEOPLE CAN GET OUT AND FIGHT LIKE HELL TO STOP THEM.
This tax bill spells doomsday for democracy in America. As the illustrious Speaker Paul Ryan said in a Bloomberg article yesterday, "“We are in a generation defining moment for our country,” House Speaker Paul Ryan said from the House floor before the vote. “What we’re doing here is not just determining the kind of tax code we’re going to have -- what we are doing here is determining the kind of country we’re going to have.”
No thanks to your vision, Mr. Ryan.
Good People of America take a moment right now and call, e-mail, write and/or tweet your Senators, House Representatives and state officials to tell them NO TAX REFORM.
https://www.senate.gov/general/contact_information/senators_cfm.cfm
https://www.house.gov/representatives/
10
You live in the same low tax state as I do. You have obviously not done the math. Unless you are a millionaire your taxes will be going down. Do you just watch MSNBC and repeat the nonsense they have on?
Another abomination. We must rid ourselves of the cause...citizens must vote these people out.
5
It is no longer democratic when the people elect officials who are public servants that put themselves first and create laws which do not benefit the American people as a whole. We should not only pay our fair share of taxes but retain the societal benefits that our collective contribution entails, the same goes for corporations and the top 10% who are clearly robbing the other 90%.
6
This is nothing more than "Trickle Down Economics" repackaged as a "tax cut" - Decades of "Trickle Down Economics" hasn't helped anybody except the Billionaire class.
Have we not learned anything from these failed promises of the past ?
6
Donald Trump's tax returns should be a mandatory part of the discussion. How can changes to the tax code even be considered without the public seeing how he will personally benefit?
7
"Trump and his family could save more than $1 billion under House tax bill"
In fact, Trump and his heirs potentially could save more than $1 billion overall under the GOP tax proposal that the House of Representatives passed Thursday, with most of that amount coming from a repeal of the estate tax, according to an analysis NBC News commissioned of Trump’s one known 2005 tax return and his estimated net worth.
Trump would save more than $20 million himself, according to the analysis of how the legislation affects his 2005 tax return, and his heirs could potentially save $1.1 billion based on his reported wealth.
https://www.nbcnews.com/politics/first-read/trump-his-family-could-save-...
2
If this dirty bill passes,each and every member that votes for it in congress should be accused of bribery and abuses against our constitution.Since trump became president our country has become unrecognizable to me and the rest of the world.Everyday has yielded another outrage.His systematic unravelling of everything President Obama did shows a man consumed with hatred for a man who makes trump look like the sociopath he is.He cares not a wit for anyone other than himself and seems to smear anyone close to him with his poisonous stench.Check out "empty barrel"Kelly's smirk in photo.When will our national nightmare come to an end???
6
By law the deficit that the GOP is creating to pay the rich and corporations will result in mandatory cuts in medicare, social security, education , medicaid and other social service programs.
See http://www.businessinsider.com/trump-gop-tax-plan-paygo-forces-medicare-...
I do not hear anyone on the GOP side refuting this. This is the true objective here just like repealing the ACA will put money back in the hands of the 1%.
I also don't see any new revenue being created for infrastructure or increased defense spending.
Similarly Obama's tax proposal of cutting corporate deductions for relocation overseas plus a 20% tax credit for costs of in sourcing is ignored. And this President got elected on a promise to bring jobs back.
How stupid does the GOP think we are?
8
I think they think Trump voters are pretty stupid.
Are you kidding? The GOP is as cynically obvious as they come. They know their base only watches Fox and reads Breitbart, and that many of them ARE in fact stupid. That's how they stay in office - appealing to their base's emotion, not their (absent) analytical skill.
Witness the hordes still supporting Trump despite not one word about new infrastructure projects or new job creation.
Let them repeal everything because when they do...MOB WILL RULE!
If this tax bill is "too tedious," a lot of angry old folks may wake up to find their Medicare is being sacrificed to the GOP's golden calf: corporation profits.
8
The biggest lie among the very many, is that, the Republican's have to pass this legislation in order to show they can legislate and therefore fulfill what their voters want them to do. The thing is they have to perpetrate another lie to make the first lie believable.
5
VOTE. Them. Out!!!
6
Billionaires and corporations are such in need of the american middle class throwing them a life perserver at the expense of the middle classes' children!?!?!
4
Odd, how Paul Ryan has overtaken Donald Trump as the most despicable and hated person in the country. Someone is going to wipe that smug smile off his face.
4
Anyone who watched the sham Senate committee voting on this outrageous tax bill would see what has gone so wrong with the US government. This isn't about the "people" of this country. It is about the "corporate and rich people."
Why bother to even take a vote when the Republican Power Boys and Girls will just vote along party lines and not along what's best for ALL Americans?
There they sat, smug mugs all proving just how powerful male genitals are.
They know what will happen to them come 2018 when it's time to vote. By January 2018, when people start filing their taxes to the IRS and discover they are going to lose thousands in tax deductions and then get smacked with huge increases in the cost of their healthcare, Trump's lies about "every American will get a $10,000 increase" becomes yet another Republican scam.
2
Unfortunately people will not find out in 2018.
I believe this legislation will only be for Tax Year 2018 and beyond. Which means that Americans with critical thinking skills (sadly, in short supply) will not notice this effect until 2019.
That would be well after the mid-term elections.
Then Congress will state they will eventually 'fix' the problems, but won't be able to afford it until improved tax receipts from corporations start coming in.
Hint: they will never fix the problems
1
The tax reform is not popular in the country. Everyone knows that the pay raise envisaged by the Republicans for workers is obviously false. All the money freed by the tax cuts will go to stock holders. The tax raises to the middle class will be followed by entitlement program cuts. Why? Why are the rich buddies of the Republicans so important? Especially since business is good and the stock market is roaring. Then add on top of this a huge Pentagon funding increase. Money that is merely being thrown at the military. The national debt since the 2008 recession has moderated but is still extremely high in historical terms.
4
Americans are hopeless. They will pay, as they always do, for tax-cuts-for-the rich. They will fall further behind. They will become resentful and dissatisfied and form tea parties and elect demagogues like Trump. And the cycle will repeat itself ad infinitum.
Amazed or surprise by this GOP Middle-Class Tax increase? In the becoming post-Citizens United world, the biggest "person" gets the biggest reward.
Wake Up People.
11
Money is speech.
$1 = 1 vote in the Nee Gilded Age
What has been lost in this escapade of fools?
1. Who is going to pay for the federal government?
When Obama was in office, the deficit hawks wailed and moaned about deficits. Now, giving away more than a trillion dollars to the wealthy is no problem. Why?
2. Why will the North tolerate a big giveaway to the South - which by the way has been bleeding the North for decades?
Now the tax system is designed to create winners and losers in the political arena? Why?
3. Why are the national priorities being set by wealthy GOP donors?
Does this plan have popular support? No. Why is it being legislated? Because the Republican Party needs to pay off its donors. Why is this right?
15
Government won’t be necessary anymore.
The Oligarchs will guide us.
First order of business:
Lower wages for all to provide yet more tax cuts for our Oligarchs.
It’s a new dawn.
If the law passes my entire December will be devoted to tax planning for our clients. I do not know if this is tax simplification but you could call it the " the tax lawyers and CPA's full employment tax act."
5
Dear Senators, please save us from these gerrymandered congressmen -- again.
9
Is it November, 2018 yet? Yikes. Can't come fast enough, those pesky mid-term elections. This has to stop.
Trump touts that the new tax plan "won't benefit" him. Depends on how one defines "won't" eh wot? His family stands to gain over $1 billion in estate tax savings and he personally saves millions.
To the voters who held their noses and voted for this despicable man, we can forgive you and welcome you back into the fold of reasonable and sensible and fair government come 2018. Elections do matter, people.
12
So we are being taxes twice on the same income. Once by the Feds and once by the State. This together with other deduction eliminations will make sure most middle income folks pay more taxes. Ryan puts it to us again and has that horrible smirk on his face.
7
Then go after your state, county, city and town officials and demand they cut spending by eliminating overlap in programs and agencies, defund civil service pensions and refund the billions there to the taxpayers, make most government services pay-as-you-go so that end users (and abusers) pay the true cost of schools, ambulances and public transportation, end the property tax exemption for religious properties, make legislative positions part time with a small daily stipend and finally stand up to the employees who work for us.
1
if the deficit is 19 trillion how does a big tax cut help reduce the deficit.plus why do americans spend double the next country on health care per person.
2
Why? Because the health insurance companies are making a profit. Take away the profit and have government medical insurance, like other western democracies, and you won't be robbed blind as you are now... and that's on top of that outrageous tax bill the House just passed.
When are people going to see that his IS tyranny in its most clever form. Good Luck, America.
7
As usual as in ALL measures sponsored and developed by the GOP, the rich stands to gain billions. A case in point is the W.H. family where their prophet will reap over a billion in tax cuts. No wonder he wants it as soon as possible so he can sign it and pocket the loot. What will happen to those brainless deplorable who voted for him expecting hundreds of thousands of good paying jobs, although they don't have education? Did they REALLY think that the snake oil vendor, if elected, was going to reward them and not Wall Street? Open your eyes and look around, who do see benefiting? Has anyone explained to them that trickle down economics (voodoo economic) already failed in the '70s
4
I am hoping that this ridiculous tax reform bill will die as the few GOP senators left who have a brain realize they might lose their job if they vote for it. I’m thinking it will go the way of their attempted “health care reform.” The powers at be have become so greedy and blatant that once again they will most likely defeat themselves.
However, if this terrible bill does pass I think we should all bring back the chorus of “no taxation without representation.” The GOP bill doesn’t get to tax anyone but the wealthy. The rest of us shouldn’t have to pay a dime under their new plan. It is obvious that they do not represent us.
7
Who really wants this bill passed...the Republicans or the Americans? They sure aren't listening to the voting population. Bring on 2018!
4
I wonder why the G.O.P hates the American on the ground so much? What has he done to deserve their wrath? Not only is this man down but he is getting kicked over and over. He gets a little reprieve in the form a non-permanent tax cut, then kicked again when the taxes go and their security blanket goes up in a smoke. Meanwhile the Corporations, the rich and famous get a permanent tax cut to a mere 20%. Are they humans because being one they have to have empathy, conscience and feel pain when their fellow human being is in distress. Frankly, they are no better than the ISIS.
5
A question to ponder to the voting members of the US House of Representatives : Do you and your families not share the same planet, drink the same water, breathe the same air, eat from the same fields, send your children to school and college, become sick and suffer from cancer and have medical bills, and ... ..And, when will the words of Hillel have meaning to you? ."If I am not for myself, then who will be for me? And if I am only for myself, then what am I? And if not now, when?"
4
Long time ago, when I was young and naive, I hoped that God would punish these monsters of money. Alas, this hope disappeared along with God. We have to stop the rich and the super rich now.
6
Look at the timing! The Republicans are fooling middle class Americans and again playing the dirtiest game to keep the Republican majority with a short term tax cut for the middle class ..... so that they get that Alabama Senator!
Just like men have joined in support of Women's Rights with all these sexual scandals all over the place, I hope there are Republican Senators like Sen. Flake and Sen. McCain who will fight to prevent complete financial and health ruin for the regular Americans.
1
Where is the resistance. Why is there no uproar about this travesty of a bill?
2
The most wealthy need this extra boost...let the poor and middle class pay for it and see what happens to the economy. Roll the dice guys!
1
How many CRIMES is the GOP committing here? I see THEFT. I see BRIBERY. I see CONSPIRACY.
The American public, the little guy, you and me - we are CRIME VICTIMS! Of the GOP Congress attempting to steal from ourselves and our progeny - in order to appease their big donors, wealthy corporations and oligarchs - who have entered into a conspiracy of bribery and theft.
Why is this legislation not considered a game plan (conspiracy) to deprive the public of healthcare and other necessities (social services, benefits the elderly have paid for, care that every religion mandates for the destitute, the disabled, the marginalized, infrastructure etc) through theft on the one hand and a bribery scheme that gets these Congress People MONEY for re-election?
I am heartsick. I am ashamed. I am outraged. To have lived to see this thieving US Congress and White House
4
Overhaul?? The middle class is being keel-hauled.
4
Any congressman or senator who votes for this bill will be doomed and labeled as corrupt. They are knowingly and willingly voting against the American people.
3
"Overhaul"? That's a word that means "repair, update, refresh." Nothing so positive comes to mind...
2
A million is a thousand thousands. A billion is a thousand millions. A trillion is equal to a million millions. Republicans now want to increase the national debt by $1,500,000,000,000. And they call themselves conservatives? More like reckless thieves...
8
Given the track record of the GOP, I guess we can count on the economy crashing in two years or so. Is there anyone outside of the GOP’s ill informed base who seriously thinks the party knows anything about the economy. The GOP should stick to what it’s good at- racism and homophobia.
7
Free money for everyone! (Well - mostly for the wealthy.) Party on - and don't give a thought to our grandchildren who will be straddled with a $120 trillion debt - $20 trillion debt + $100 trillion in unfunded liabilities. Whatever...
What the Republicans are doing has a much higher probability destroying our nation than any other threat we are facing from Russia or North Korea. This tax cut amounts to treason.
6
This is a pure scam. What happened to deficit hawks? What happened to Tea Party? This tax scam is a permanent gift ( a big one) to the Republican Party donors like Koch brothers, Adelson, Mercer and other billionaires and multimillionaires. But government has to pay the bills. By this mega tax cut to rich , the revenue flow will go down. Who will be the victims of paying those bills? The answer is the middle class and even the citizens below poverty level have to pay more tax. This is reverse Robin Hood. How long these hypocrite Republican congress members can fool their voters? May be forever ?
4
These disgusting congressmen (Republicans) are just trying to do something since they have been inept for so long. Their tax reform will make the rich richer and the poor and middle class poorer. Corporations will genuinely be running the country. There is no way they will create jobs, the extra money they may make by the tax cuts will go into the pockets of management and stockholders. Each and every member of congress that votes for these ridiculous policies should be voted out of office, this includes Democrats as well. It is time for the American people to take back their country before we are like every other dictatorial run country. Perhaps we need a third new party since the Democrats have been fumbling around and ran an unelectable candidate for president, Hillary Clinton who was only listening to her own drum beat but not the people.
These wealthy GOP "leaders" are laughing all the way to the bank.
More money to them from the corporations.
Passing their large estates on tax free to their families in order to create a wealthy class that never pays taxes.
Disgusting.
4
As we speak corporations are sitting on trillions of cash and have big profits. They are not using that cash to give raises to employees or to create more jobs. How is giving them more money going to make them do that.
CEOs who were gathered at an event with Gary Cohn hosted by the Wall Street Journal did not raise their hands when asked about whether they would increase their capital expenditure because of the GOP's tax reform plan.
There's little evidence to support the claim that tax breaks boost employment.
https://www.cnbc.com/2017/11/15/ceos-raise-doubts-about-gary-cohns-top-a...
5
Please NY TImes, be more accurate with your headlines. The Republican scheme is not a "Tax Cut" for your readers. It is wealth redistribution from your readers to the wealthiest corporations and individuals.
4
Mr Ryan, corporatioons may be persons - however, they CANNOT VOTE.
Come 2018; we need to throw every Republican out .
2
Republicans said the appearance of a tax increase for low-income people was a mirage resulting from arcane fiscal math.
Mirage, Arcane fiscal math, knowingly using unrealistic forecasts of future growth, telling outright lies to the American Taxpayers, benefitting themselves while stating they will not to – just some examples. Welcome to American Elected Politicians!
All this from a group who, without a single hearing, votes for the 400-plus-page complex legislation, filled with technical terms and continued loopholes that they likely don’t understand and probably never read.
All they needed to know is that it benefits themselves, and their Corporate and Wealthy Special Interest Contributors.
And, they can put lipstick on their pig and sell it to the American Taxpayer as their Christmas Present.
Wake up America!! It’s not a Christmas Tax Cut present. It is a Loan that Middle –Class American Taxpayers will pay interest on and one day pay off the principal.
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
3
Of course it will be painful to lose the SALT deduction.
But right now we already pax income tax on our social security tax.
So paying income tax on state/local taxes will be similar.
The trump family can use the billion dollars they will gain with this tax "cut" to further their agenda re- establishing the ivory and coal industry.
4
It is amazing that the Religious Right feel that is all right to steal from their own children. Increasing the national debt can only go on so long before someone is going to have to pay and without massive loan increases from China and Japan we will be left to inflate the currency to cover this government's overspending where the next generation or two will have to pay. Republicans can lie with no challenges made by those who supposedly believe in that bible where it states: "that thou shalt not steal". I wonder what that is supposed to mean.
4
It is time for another grassroots action--marching in the streets--to let the folks in DC know that Americans are against this abomination of a "tax overall". Big business and the ultra wealthy are waiting to stuff their pockets with the cash they'll be saving, while the average man and woman will see government services decrease and a tax increase over the next ten years. It amazes me how Republicans keep saying what a great plan this is. Trump and his "friends" are quickly destroying our Republic for thier own financial gains. How anyone could believe that Hilary Clinton would have done a worse job is beyond me.
4
The mid-cohort of Boomers are not yet 66-67, the age at which they can take full social security. Many are still too young for Medicare. There are a lot of us in the top of the demographic bell curve, and most of us are not wealthy. We have started downsizing already, unlike earlier waves who waited until they were dead or in the nursing home.
If Republicans in Congress plan to sneak this by us, planning to tax us more at age 70 than we planned for, by manipulating the brackets and rates, for many Boomers this will be disastrous. We were calculating, if we invested in IRA’s, that our tax rate or bracket would be lower at 70, which was the whole point when President Carter spoke about it when we were still in our first jobs.
Congressional Republicans have never liked Boomers, we know that. Time to return the favor in 2018.
8
Does it really matter? Fox will sell it to the "base", they will cravenly figure out a way to get enough votes for Pence to do the tie breaker and, there you go! The job creators will be so happy.
I watch CNBC and a lot of the CEOs, of course, are for it except when you ask what they are going to do with the money the only thing they don't mention is raising wages. Why? Because there is no reason in the labor market at this time to actually do that since the participation rate still has room to run. So the money is going to go guess where? Higher stock prices due to higher after tax earnings and dividends, most of which go to the wealthy.
The "base" is so compromised and uninformed that it will not make a dent in Trump's popularity.
However, there will be payback next year.
US income and wealth inequality, already one of the highest in the OECD, will only accelerate and, perhaps, exponentially.
2
If we want the nation to survive we need to absolutely focus on voter registration and voter turnout. Those who have the votes make the rules. And those currently making the rules are waging scorched earth class warfare.
Voting matters. If Democrats grasped this concept we would not be in this mess. I know plenty of internet warriors who stayed at home in 2010, 2014 and critically in 2016.
Vote. Vote. Vote.
8
American companies are more profitable than ever before. There is no crisis that needs to be addressed. The real reasons behind these initiatives are to curtail social security, medicare, medicaid benefits, and workplace laws by lighting a fuse for a fiscal crisis in the government's budget in years to come.
6
So much that is wrong with the GOP tax abomination.
This is an utterly Republican partisan creation by choice.
There has been no discernible effort to foster collaboration with the Democrats, or to make the process open to the American public. This is very much the same grave miscarriage that was perpetrated by the Democrats with the passage of the ill fated ACA, except in this case, unlike the ACA, there has been virtually no open and varied congressional hearings to honestly air the provisions of the bill. Rather it has been a full court partisan effort mostly behind closed doors over a matter of a few months.
The GOP legislation is significantly skewed to tremendously favor corporations and pass-through businesses both domestically and off-shore. Concurrently, the supposed aim of sweeping tax code simplification and the reduction of the glut of loop holes and tax dodges has never been presented.
The litany of disingenuousness and the degree of political miscarriage in the Republican manic rush for one big win before the end of their first year in the majority could fill a tome.
A far more fair and open effort was entirely feasible but purposefully rejected. Many of the huge business cuts could have been structured to be contingent on actually realizing the predicted positive economic gains across the board. It is very likely that the burden for failure to realize robust growth will fall to those far less able to bear the burden.
2
The house tax bill and the senate tax bill both offer up the poor and middle class for the benefit of corporations and the wealthy. This is wrong and is a travesty for the majority of Americans who can least afford to be stuck with a higher tax liability.
These two bills show the level the republicans have sunk to. They don't care that their so-called health bills would have taken medical insurance away from 23 Million to 32 Million Americans. Now the senate bill includes a provision to take health insurance away from 13 Million Americans. which the house republicans will love, while they stick most Americans with a higher tax bill and raise the national debt by at least $1.7 Trillion dollars.
Why would any non-wealthy American vote for republican politicians who would do this to them?
4
Ryan and the rest of Republicans must really be proud of having conned the nation to vote for a mean- and ill-spirited bill that takes from the poor and the middle class to give to the rich and the corporations. How much are we willing to withstand? Trump would benefit to the tune of millions from the tax bill, while most Americans pay more.
How can these congress people sleep at night? They are basically handing over the government to the rich and the corporations. How do they think that corporations and rich people would treat their off-springs in the future? Will they provide a safety net for our kids and grand kids? I don't think so.
4
Glad to see how republicans are all about how we voters should come to the financial rescue of billionaires and corporations everywhere by raising our taxes to enable the GOP to stuff more money into the pockets of senior executives and billionaires. Without the financial support of American voters, who knows where that $1.5 trillion would come from otherwise?
I sleep well at night knowing the republicans are looking out for the welfare of us all and acting accordingly.
NOT!
1
What's the point of having money if not for paying taxes. All this hassle and division could be avoided if none of us had any.
1
So much for democracy! I'm surprised they didn't try to work out some kind of plan to return the Estate taxes already paid by the very rich in the recent past. Nothing about this republican Congress surprises me anymore. The democrats and independents have to come to the realization that they are dealing with bought-and-sold politicians in Congress and the White House. There is rampant corruption by the republicans throughout our country and we have to fight back accordingly.
3
A protective tariff was passed by Congress in 1828, designed to protect industry in the North. It was called the "Tariff of Abominations" in the South because of its 38% tax on most imports, forcing the South to pay higher prices on goods the region did not produce. This was a watershed moment in our doomed march to the Civil War.
The current Republican tax plan, by eliminating deductions for state and local taxes, is the "Tax of Abominations," because it reverses the Tariff of Abominations by penalizing the industrial economies of the Blue states for the benefit of the Red states.
It will fail, and Senator Mitch McConnell, the consummate cynical political strategist, knew it would when he inserted the individual-mandate poison pill into the Senate version of the tax plan. When it does, he can claim that the Republicans tried their darnedest, while avoiding the worst fiscal fiasco since the Bush Recession and a possible Democratic tsunami in 2018.
They are going to eliminate the medical expense deduction? Is there ANYONE in congress that has an elderly parent still alive? Or a disabled child? Or a disabled sibling? Do any of these elected officials pay for home health, long term care, or maintain a home for these family members? Let's take away every deduction that will give all our citizens hope, security, and independence. God Bless America.
4
The vast majority of Senators and Congress are rich enough that they can easily pay for all those things without Government assistance. That is not to say that they won't take any government money they can get. One cannot have too much money. After all the rich deserve it and the poor do not.
I cannot believe that any similar tax bill will be passed in the Senate. This will probably turn out the same as the ACA repeal fiasco; there are enough Republicans with real beating hearts that will vote against it.
Hi - what is the middle class supposed to do about this? Do I call up my local representative and complain? Why does the US Government hate its own citizens so much? They don't protect us from guns, and now they want to take our money away from us. What are we supposed to do?
How do citizens weigh in on this? Who is looking out for us?
1
I wrote and castigated my local Republican Congressman about this bill, His staff wrote back thanking me for supporting his efforts to pass this very bill. He als has town hall meeting only in overwhelming republican enclaves, If they are Republicans, they will not listen to us.
The Democrats need to be more than just anti-Republican. They need to write a tax plan of their own and busk it up and down the country lest they end up like the Republicans, complaining about the ACA for 8 years now with no viable replacement in sight.
The ACA was a bipartisan effort until the ultra, fascist conservatives captured the Republican party.
Pass the tax bill, and just blame the Democrats for all the negative fallout.
It's been working for the GOP for decades.
3
I am so tired of hearing the child tax credit expansion being touted as some sort of offsetting panacea for the reduction in exemptions. Don't these people understand that there are millions and millions and millions of middle-class Americans that are of an age where these proposed credits are absolutely meaningless?
1
It will be interesting how McCain votes after his big speech on how Congress needs to get back to regular meeting, hearings and such with both parties to pass legislation. This tax bill has been rammed thru hidden from Democrat and public eye, no hearings, exactly what McCains speech was about not doing.
2
If anyone had their doubts that the GOP has even the remotest concern for the middle class, this vote should remove any uncertainty. This is a trainwreck of a bill, speeding towards approval, and in the end most of us will pay more. I live in NY state and I read the self-serving Facebook posts by the four or five GOP reps from upstate NY who voted for this scam of a bill, and they love to deflect and complain how NY state suffers from high taxes because of Governor Cuomo or some such claptrap. Sure we are a high tax state, and have been since Rockefeller's reign, but we get some bang for our bucks in terms of services. Those four or five Congressmen/woman basically sold out their own constituents who will end up paying the tab. I'm glad to see people outraged by this travesty of a "tax reform" giveaway, but I can't believe how some of those sheep who support Collins, Reed, Katko and Tenney don't realize they're getting fleeced.
3
New Jersey seems to be one of the blue states targeted for pocket-picking by the House bill. But the estimated cost of $137 million is pretty small in relation to the more than $150 billion sent to DC every year. It appears that the gifts showered on the rich and businesses are almost exactly paid for by what the bill extracts from the middle and upper middle classes. There is an essentially balanced transfer from the bottom to the top within the state.
3
With a clever play of numbers if the Republicans think their tax bill will pass muster, it's doubtful. For, anybody can see through their game wherein there's a change in inflation adjusted middle class income measuring index from the Consumer Price Index to the Wholesale Price Index to extract the exceeding money from this class and thus fill the budgetary gaps therefrom to utilise the accruing surplus for the corporate tax cuts, leaving the middle class high and dry.
10
Do your math people. The loss in itemized deductions for state taxes, real estate taxes and mortgage interest (vague reference to limited) will hit most home owners with a wallop. The increased standard deduction does not make up for those deductions. Eliminate large medical expense deductions? Really?
Also being repealed in 2018 personal exemption of $4150 for each family member. I expect this to be catastrophic at tax time..
27
And don’t forget the double exemption for the elderly!
Write to your state AGs and implore them to investigate RICO violations by the GOP. The GOP is a political party not a Branch of Government and is not immune from prosecution for their actions as such.
"When the wind blows the grass bends." Who has seen the wind? No one but we know it by its effects. Likewise with the GOP.
22
Yes! It’s a conspiracy to defraud the middle class and the poor. In order to enrich the already super wealthy. In order to bribe them to give money to the GOP.
It’s like a merry-go-round of money sloshing from the rich to the GOP and back to the rich!
RICO!
1
We can all agree the proposed tax rules favor the well-off while posting some gains for the less affluent. Law makers on both sides, however, have done a poor job in showing the actual cash flow impact of the rules especially on the groups that will pay an increased tax under the new rules over time. What's missing is a simplified electronic graphic that supports their back and forth bantering.
For example:
We are told that wages for working individuals will go up beyond routine raises. It's not clear to me that Business will fatten paychecks because they have more cash. While there must be a cash flow graphic to show that projected outcome, I really thing the advocates are relying on increased taxable income.
One significant increase in tax revenues in support of various tax cuts are the taxable cash amounts that will be generated as 'baby boomers' turning 71 years of age unlock billions of IRA dollars under the law. Not only will those withdrawals provide more money to tax, those withdrawals may likely push individuals into the next higher bracket.
Law makers in opposition to the new law should show this impact through a visual display or graphic so that people can easily understand why they may be paying more, not less, in taxes.
Of course I make the point to note that trillions of untaxed corporate savings (something like an IRA) over seas will be brought back at a very low rate - thus my opening sentence.
3
The mid-cohort of Boomers are not yet 66-67, the age at which they can take full social security. Many are still too young for Medicare. There are a lot of us in the top of the demographic bell curve, and most of us are not wealthy. We have started downsizing already, unlike earlier waves who waited until they were dead or in the nursing home.
If Republicans in Congress plan to sneak this by us, planning to tax us more at age 70 than we planned for, by manipulating the brackets and rates, for many Boomers this will be disastrous. We were calculating, if we invested in IRA’s, that our tax rate or bracket would be lower at 70, which was the whole point when President Carter spoke about it when we were still in our first jobs.
Congressional Republicans have never liked Boomers, we know that. Time to return the favor in 2018.
1
This congress is in a civil war. Hate for the majority of Americans living in cities is being used by the eleiit who con rural areas to vote their representatives in to power. Time to inact the second amendment right.
4
Business tax is on profit not on revenue. The more profit after all expenses the more tax. I wish reporters would be more aware of that when they interview businessman with sob stories.
Just to be clear, you are taxed on net net net profit after you deduct investment and expenses.
Stop with this pity the poor businessman with high taxes. He cleared a lot of profit.
7
The NYT should stop saying this is "$1.5 trillion in tax cuts." It's no such thing. You're just buying into GOP propaganda. At best, it's $1.5 trillion in taxes deferred. Why not call this "the Republican debt expansion plan?"
18
I agree, they need to market this this adding $1.5 trillion dollars to the federal deficit. That would be much more accurate.
1
The Republican Party is so far out of touch with the MAJORITY in this country that it’s almost hilarious if it weren’t so dangerous.
When their policy “ideas” poll horribly (which they always do), all they have left is identity politics.
Pathetic.
15
We can be a free, prosperous, charitable, self-governing, and happy people, or we can be equalized, mediocritized, homogenized, infantilized, feminized, and diversified. If you prefer the former, vote Republican; if the latter, Democrat. All else is sound and fury, signifying little.
1
Right, look at those red state utopias like Kansas and see how well that works.
Feminized? Really? Well, I gues you did leave out anything about being well informed or a critical thinker. Keep swinging those testicles around mister...I am sure it makes you feel bigger than you are.
1
The House gift to the corporations and wealthy.
"... and a repeal of the alternative minimum tax, which primarily affects households with incomes from $200,000 to $1 million."
"... a large tax cut for some “pass-through” income of individual business owners ..."
A big hit to middle and lower classes:
"To help pay for these cuts, the bill would repeal the personal exemption, a deduction currently worth $4,050 for each filer and for each dependent.'
Buying a home, think again:
"Additional money is raised by eliminating several deductions, including ones for state and local income taxes and for medical expenses, and limiting the deductions for mortgage interest and property taxes."
Only the wealthy deserve an education:
"The bill would also repeal several education-related tax breaks, including for interest on student loans."
The biggest joke of all:
"The most expensive change in the bill is a reduction of the corporate tax rate to 20 percent from a top rate of 35 percent." With all of the corporate tax loop holes and deductions still in place, MORE CORPORATIONS WILL PAY NO TAX!!!
Middle class tax cut? ???????????????
19
Republican fascists are in league with the devil. Their tax bill reveals they have no respect for the common man: the very base Trump said he stood for. Hypocrites all.
11
INDEPNDENTS AND DEMOCRATS: YOU MUST STOP THE REPUBLICANS STEALING FROM THE POOR TO MAKE LIFE DANDIER FOR THE RICH PLAN! YOU MUST! Otherwise, the nat'l debt will soar, and the common people will wake up and see they've been lied to and this will lead to another French-style revolution. The White House chef should start ordering cake batter.
10
Why do you keep calling it "overhaul" ?!?!
I know this is the NY Times, were headlines are not supposed to worded in a high-minded and never in an alarmist way.
But "overhaul" actually means something good. It means going over something (the hulls of sailing ships, in its original meaning) and bringing it back into working condition.
This tax bill is a crippling attack on the essential social fabric of the nation. It is a vicious and malignant device of class warfare and is hastening the demise of democracy and the march towards fascism. And no, I am not exaggerating.
So NY Times, now, not later, is the time to start calling things by their proper names -- there may be no later if you don't do it now.
11
The time for armchair politics is coming to an end. We need to take to the streets. All rise....
10
The Republicans of years ago would not be so foolish to give a billion dollars to Donald J. Trump and his family.
9
“The result is landmark legislation moving at breakneck speed".
Whose necks?
11
"With 227 Republican votes...[yadda, yadda yadda]...tax cuts...[blah, blah, blah]...and deliver the first major legislative achievement of President Trump’s tenure."
What??? Since when has the first short step of a multiple step long journey with no certainty of being completed been called a "major legislative achievement?"
If this is all it takes - this is Trump's second major achievement then...the House did pass a repeal of the ACA to equal fanfare, Trump's smiling face and chance of actually becoming law.
1
As my Mother used to say " this thing stinks to high heaven". I hope miraculously it will get killed in the Senate. 11 Republicans in Cali need to go asap.
5
Draining the swamp finally makes sense.
To drain means to lower, weaken, and lessen the financial circumstance.
The swamp is the proletariate and/or anyone not a billionaire.
Audacious doesn't come close, but disgustingly insulting does: governing for the people, by the people, unless there's {more} money to be made by those already stupendously wealthy.
Do politicians really think workers are stupid?
Seems as such.
5
Congratulations to the Republican Party! You wanted unfettered control over people's bodies and you've got it. And look what you've done with all your power; with a stroke, you've managed to destroy science in the United States. Sadly, history is crystal clear on the consequences of those blind to science......the disease and infirmity that follows in the wake of ignorance is both unbiased and apolitical and will fell the rich alongside the poor and in great droves, leaving No-man the winner and the poppies growing on the graves. Well done!
5
We will remember these Republican criminals in November. Each and every one of them. And we aren't going to forgive and forget, either. A great many of them will be going to jail where they have long belonged.
NO REPUBLICANS IN 2018!
NO REPUBLICANS IN 2030!
NONE!! NOT ONE!!
10
They are fleecing us to death.
6
Really bad hair day, Donald.
4
If you think Kansas tax policy is a big success, you'll love what the Republicans are trying to do to the entire nation.
11
Deficits don't matter. Rinse. Repeat.
5
Every penny of corporate and individual taxes comes from the consumer. Corporations and individuals merely act as collection agents for the bureaucrats.
4
Am betting the Carried Interest giveaway to Wall Street survived.
6
Did President Trump release copies of his IRS tax records? How does this reform bill effect his personal tax liability?
9
How could the house pass the bill that scraps the estate tax while the sitting President and his multiple children would no doubt benefit enormously from such a change?
The drastic lowering of corporate tax would do the same, especially since Trump's real estate empire does not rely on outsourcing as some of the other businesses do.
In the meantime, the few hundred dollars of temporary tax cut for the middle class would certainly be more than swallowed by rising tuitions, rising medical expenses, loss of public facilities, and reduced deductions.
How could anyone but the very wealthiest & corporate lobbyists support this bill? And why do we allow our "president" and legislators such naked act of self-enrichment? When did the American public become so docile?
9
How wrong is this headline ?
The House and the Senate Committee passed different bills. Saying "House and Senate Panel Pass Tax Bill" misleads people into thinking it's the same bill.
4
Might is Right fascism has moved from political rhetoric into our public policies at the Executive and now Legislative levels of our government. Look no further than the Trump-GOP tax bills and deregulations to see who and what is rewarded and who and what is not.
Make no mistake this is a de facto coup d'etat of our democratic republic by the rise of a plutocratic republic in our Branches of Government. This was inevitable once our unwise Judiciary opened the door to constitutionalized corporatism.
4
What happened was just another sign of how sick the GOP has become.
7
Am I missing something from the civics classes I took? I thought congress is supposed to represent the voices of its constituents, and majority rules. Certainly the mega-wealthy citizens of this country are in the minority, not majority. But this tax bill, forced through by 227 GOP congressmen, flagrantly gives huge perks wrapped up with a bow to the mega-rich while middle class people will at best be thrown a bone. If this isn't the tyranny of the minority, I don't know what is. And the GOP argument that tax breaks for the rich will stimulate job growth is farcical. There is absolutely no evidence this would happen. But that's the GOP response when asked why they suddenly are poo-pooing the monstrous deficit increase this bill will cause. I hope we can find 3 GOP senators do to this bill what they did to the equally disastrous health care bill. If not, heaven help us.
4
I wish someone would wipe that smug grin off of Ryan's face. This tax bill is only going to help their top donors and large corporations. The bill is a joke only it's on us working stiffs. Al lone can hope for is that every Indie and Dem VOTE in 2018 and send these rich white boys back home. They haven't clue and are so far removed from reality. Those on very fixed incomes will fare far worse. It's an abomination.
7
We are $20 trillion in debt, and Republicans are proposing to borrow another $1.5 trillion to eliminate the estate tax. Apparently multimillionaire heirs are the neediest among us. Who knew?
20
How much money will republicans raise from wealthy millionaires, if this passes the senate? I think we should all be watching that added capital disappear into RNC coffers.
9
This bill, or rather the monstrosity that will arise from the resolution efforts between the two chambers, will pass. What is morally reprehensible is the unconscionable deficit increase this bill will precipitate means Medicare will be the first large-scale causality at a time when the largest generation of Americans are retiring. In 10 years this great nation will not look like a 3rd world country, it will be a 3rd world country. We will wistfully recall the quaint past when the issues dividing the nation were green energy and gay marriage.
11
Has anyone asked Ivanka Trump if this plan will encourage her to manufacture all her products in the US rather than in China? Will Apple now open factories in the US to provide Americans with jobs, instead of using cheap Chinese labor. This is where the discussion should begin. Why does anyone buy the Republican claim that this plan will create millions of jobs and lift middle class wages when nothing will change for the better for anyone but the Trumps and other already wealthy people.
7
Hard to believe that even these Republicans feel no shame in ramming through this awful piece of legislation, the most significant in decades that will affect every aspect of American life, without one hearing. This is not democracy AT ALL. Where are the Democrats? Don't hear anything about them. is it their fault or the media's that don't report on them?
6
"Republicans said the appearance of a tax increase for low-income people was a mirage resulting from arcane fiscal math." Republicans have apparently repealed the math laws too.
11
I read where the GOP'rs gave themselves a stand ovation when the tax bill passed. They then noticed the Democrats, clapping as well, knowing that these heartless beings had just opened the flood gates for the Democrats in the 2018 elections. It could be a total turnover of Capitol Hill.
5
Reduction in corporate taxes to spur capital investment.
Does this generalize tax break 'spur' include investment in human capital ? I think not.
Take a look at the Fair Labor Standards Act which was created to protect workers against certain unfair pay ,( I know this reference is but a broad stroke for there are mandated exceptions, as well as few states who have increased the minimum wage);
The current federal minimum wage is $7.25 per hour, and has not increased since July 2009. This general bill of sales, this price tag of labor of $7.25 per hour is a bad joke.
Every day I show up to work and invest my time, my energy and my talent making a profit for these corporate entities. Every week I invest in our government and the net is what I live on. Throwing me a few hundred dollars at end of the year tax returns does not put food on my table or heat my home.
Does this generalize tax break 'spur' include investment in human capital ? No, if this bill passes it's official, they now own me for trickle-down economics is but a fantasy.
8
As if these idiots on Capitol Hill actually think that these corporations are going to raise the salaries of employees. The total tonnage of what they DON'T know could fill reams. They will not pay a cent more to employees and the supposed $800 back is laughable. removing the breaks on state and local taxes will hurt far more and they see this as a plus. Vote these turkey's out sooner rather than later.
3
A large majority of Americans neither want or understand this bill. If this isn’t taxation without representation, then I don’t know what is.
9
Spurring economic growth is stated as a main component of the tax plan overhaul. Yet the house bill contains tax plan proposals that more than double the taxes for PhD graduate students.
Taking an example such as myself and ~1000 other PhD students at the University where I study: we make approx $25,100 living stipend as graduate teaching assistants and research assistants. Because we are being taught by our advisors (not taking classes), we receive $29,000 tuition waivers. To have paid positions outside of the university, we need to receive approval from our departments. Yet under the house plan, we would be taxed on $49,100 of benefits, thus paying $4900 out of our $25,100 in pay.
Graduate students are the work horses for much of science research. Where does the innovation and economic growth come from when higher education is deterred?
17
Thanks for spelling out the tuition waiver issue. My son is a graduate student and I am now more worried than before, now that you helped me understand the technical part.
Most graduate students live on a tight budget and taxing tuition waivers makes it very difficult.
Is there any doubt that when the chips are down Sen. Ron Johnson of Wisconsin will come around vote yes? And since Sen. Lisa Murkowski of Alaska has apparently been bought off with approval of oil drilling in the Alaska Wildlife Refuge, that leaves Sen. Susan Collins and Sen. John McCain as the two senators on whom we can pin our hopes to defeat this horrible piece of legislation. Problem is, we need three senators to vote no. Are there other senators out there who are willing to be heros for sake of their country?
8
Elections in 2018 are less than one year away. Remember this day, and vote the Republicans out of office. In the meantime, join the anti-shopping movement and stop buying anything that is not a necessity. The Republicans expect everyone to behave like good little consumers, in order to "grow" the economy. But let's do what the big boys do: sock away all of our extra cash and stop putting it into the economy. Stop doing what they expect us to do. Then vote against every Republican in 2018.
11
They don't even listen to their own economist, Disaster is what this house has been for 9 years.
6
if we wanted to help the working class people wouldn't it be more direct to lower the payroll tax and raise the cap on it to balance it out?
4
I think. politically, the top Republican leadership think they have their corporate-corruption in the bank, long-term, with the fact that if Democrats later repeal their tax cuts for the largest of corporations, the largest corporate-political-contributions will once again, push GOP majority power.
In regards to smaller corporations and smaller businesses, I think GOP top political leadership are ‘politically-stealing’ the Obama Administration’s Democratic leadership economic plans to rollback certain corporate loopholes to pay for tax breaks for smaller corporations and businesses to increase business competition. The GOP say the are giving breaks to smaller corporations and businesses without rolling back corporate loopholes to pay for it, which now ‘intercepts’ Democrats being able to do that later.
Keep in mind that the largest of corporations are financially outcompeting the business of many of our Local, Regional and even Smaller-nationwide Corporations, and giving the largest even more in tax breaks isn’t going to help that business situation.
As of now, many start-up businesses, competing with the largest, don’t even make enough profit to be required to pay taxes. Does the plan demand 20% out of those businesses, as well?
1
Where are the Congressional Tea Party and the deficit hawks? This bill will add 1.5 Trillion dollars more to the deficit with a failed Trickle Down economics solution as the answer to create the revenue lost. We have proof this economic theory when applied (Kansas) does not work. Just maybe their working class constituents will have pause in re-electing them in this upcoming 2018 mid-term election. Every last one of them should feel betrayed.
6
2018 is around the corner and we must get out there and vote to unseat as many of these people who voted for this so called tax bill that is supposed to help the middle class. It is going to help the rich get richer, and at the same time, leave millions of people without health insurance.
3
How can such a major piece of legislation pass without a single hearing? The American people do not know what is in this bill. Nor do their representatives.
7
This is being rammed through at the end of the year without time to do it properly. People, the Republicans deserve an “F.”
College students spend more time on a term paper than these Republicans are spending on writing this bill.
1
Don't worry too much. The Republican House and Senate may pass President Trump's Cut, Cut, Cut Bill, but after the 2018 elections, the Democrats will replace it with a Fair, Fair, Fair Bill.
Worry a little, because after the 2018 elections we will be scrambling to find a new second political party to replace the MOP GOP (the Mighty Outrageous Previously Grand Old Party).
I want to be among the first to nominate economics major and attorney Senator Lisa Murkowski (R Alaska) to lead the new party.
5
The republicans & conservative voters wish to get rid of the insurance mandate that all people are required to have health insurance-AGAIN.
Hospitals & medical offices will be able to get you immediate healthcare at an affordable cost when you get sick.
You will take money & put it aside for an emergency because we are not a country that has high personal debts. Corporations will not have to offer healthcare.
I look forward to the HUGE REFUND i can expect from the federal government too.
MEDICARE is a FEDERALLY MANDATED HEALTHCARE PROGRAM that is biased based on age that I have been paying into for 40 years for a rainy day based on GOVERNMENT RULES.
If those under 65 do not have to have insurance as this administration wants then they MUST refund the monies pulled out of our paychecks to use as we see fit.
Corporations will then also have more money as they will not need to send in matching funds for medicare.
Healthcare mandates and age discrimination based on politicans protecting their jobs versus care for all.
I'll take a certified check as a government check may not clear.
3
I don't know why the Democratic Party is so inept in framing debate in stark political language. "This is not a tax cut. This is a tax loan." If the U.S. increases the deficit, this must be paid back. By whom? When?
I suspect the Republican Party, in spite of its under siege, angry base, is the party of big business. The government should not interfere in Capitalism --one of the world's great religions-- but Capitalism can fund our elections. This might explain the current versions of the tax bills the Congress is trying to pass.
Thank you very much, but I don't need a loan at this time especially one imposed on me.
3
“It’s a combination of shrewd legislative maneuvering and political necessity,” said Ken Spain, a former official with the National Republican Congressional Committee who now lobbies on tax issues. “The result is landmark legislation moving at breakneck speed. It’s a monumental accomplishment.”
Monumental balderdash is what it is, moving a pace too fast for anyone other than the wonkiest of winks to maintain. It's moving that fast for anyone, including House Republicans, to know what's actually in it.
Thanks for taking a shot at "fixing" a tax system gone wrong by most likely making it even more wrong.
6
There is a solution for you if you live in a state with high property tax and an income tax. Get your state to change both or move to a state that does not have both. But please do not move to Washington state we already have too many people. Is there a reason why Washington has Microsoft, Amazon, and companies such as Starbucks? Perhaps a rhetorical question.
Wait. Could some authoritative prognosticator please provide the answer to the obvious question? We know Republicans are expected to suffer in 2018 if they don't pass a tax overhaul. But the question is: won't they also be expected to suffer in 2018 elections if they DO pass THIS awful tax overhaul?
Maybe it's good that Democrats and lobbyists haven't yet had a chance to mobilize popular opposition to this horrible legislation. Let them hold their fire. Let them mobilize opposition to it after it's passed, so the outrage can channel into 2018 voting.
Win back Congress, then the White House, and then pass new and better legislation that undoes the Republican damage and replaces it with something highly progressive.
3
All home owners are going to be seriously hurt by the elimination of state and local taxes, aka, property taxes.
Do corporations and business get to deduct property taxes, and other state and local taxes as a "business expense"? If so, what a travesty.
5
Look, the problem is earning inequality. People at the top are earing more and keeping more. The folks at the bottom can't pay their rent or even dream of buying a house. UNTIL we value our neighbor more than a second home and excessive consumption for ourselves...our society will continue to decline.
1
Balderdash, neither House or Senate Bill can be termed reform or overhaul of the tax code. Phrases such as job producing, middle class tax cuts/relief, etc. also do not reflect an overhaul. It is all an play on words in order to garner support and confuse. True overhaul would be a scraping of the current code and introducing a total overhaul anything else is a smoke screen.
2
Our once elegant, unique system of governance - in the best interests of national growth, prosperity and development, based on a splendid deliberative process which engaged divergent viewpoints on best policies has degenerated to government by "might makes right" which unfortunately seems likely to further devolve to absolute rule by absolute power.
Not what I want for our democracy but seemingly what the GOP seeks to achieve.
1
If the goal were truly to give everyone a tax cut, all they have to do is just keep the current tax structure, including brackets and deductions, but add one last step to each individual tax payer - which is to subtract 2.5% from your final tax obligation, as calculated using existing tax law. 2.5% is the average cut across all tax brackets in the Senate's plan.
My suggestion is simple and it is equitable. Everyone gets the same tax "relief", as they put it, regardless of your bracket. No bickering about favorite deductions, no wondering what you will pay next year. It is easy, you pay what you have always paid, minus 2.5%.
The fact is, the Republicans don't want a true, across the board tax cut. They want to rejigger the taxes so that ultimately the rich pay less and the middle class pays more. That is not a tax cut, it is a tax shift.
1
This isn't a "tax overhaul." That implies some good faith effort to make the tax system more equitable and efficient. This is rank class warfare against the middle and working classes that will throw the government into more debt and create the excuse for a future assault on any remaining traces of the New Deal or Great Society.
Welcome to the Cruel Society, courtesy of the Republican Party of 2017.
2
When people can be so easily persuaded to vote against their own economic interests and to elect people like Trump and Ryan, the result should not surprise anyone. We have the government we deserve.
2
The bill will not pass the Senate. Johnson has already indicated he will not support it; Rand Paul might vote against it because it is not revenue neutral; Collins and Murkowski will not like the policy; Flake, McCain, and Corker could vote against it for any reason, not the least of which is personal animosity toward Trump. This measure will fail like the ACA repeal did.
Fingers crossed!
This tax plan is the top GOP leader’s pigeon-drop; politically, and financially. Evidentially, Speaker of the House, Paul Ryan, is not smart enough not to be taken by his party’s corrupt top Republican leadership, but he always thought he was smart enough to re-plan our Social Security program by his self.
Since Republican leadership is being secretive about what is in their plan, each individual must research what percentage of taxes they are paying in ‘after’ the standard deduction and tax credits to possibly know if they even ‘might’ be paying in ‘more or less’. It all depends on if people are ‘originally’ taxed at these proposed rates, or if these rates are the ‘final percentage rate of pay-in’ after deductions; of which GOP leadership, appears to be ‘spinning’.
For instance, if the lowest income pay-in taxpayers are now paying-in around 9% ‘after’ deductions, when the plan proposes 12% from the lowest, if the GOP ‘sustains’ the standard deduction, this certain income could be paying-in more. if 12% would what be the rate these people are ‘originally’ taxed at and the GOP ‘takes away’ the standard deduction this income group would ‘still’ be paying in ‘more’.
We ought to be able to expect our government leaders to be able to think that through for us.
1
Since the U.S. government is financially bankrupt the people of the U.S. should question the wisdom of any tax cuts. Reductions in the size of the government and retreat from some questionable foreign policies could help the financial standing of the bankrupt, lawyer dominated U.S. government. We would like to help U.S. with more investments from the oil rich Arab world if President Trump would be more concerned about Syria than North Korea.
1
The representatives of our fellow citizens in Republican states have seen fit to punish those of us in Democratic states. The level of animosity is apparent in comments some of the Republican majority have made. And the Republican representatives in our own state have not had any influence on the legislation.
How any citizen of New York can vote Republican after this baffles me!
For all of you who think that corporations are actually taxed at 35%, Google "corporations that pay no tax" and see the biggies that pay nothing. Trickle down has never worked.
And for the folks that believe the Repubs thinking more jobs will be created, think again. This tax bill gives a lot of incentives to out source.
We, the peons, are in the cold again.
1
If you all remember, Trump campaigned on wanting a 15% corporate tax-rate, but I don’t think that was out of any economic brains of Trump. Since 15% is the lowest profit tax bracket on Reagan’s Corporate Tax Table reform, I think it was that Trump was simply always jealous of this lowest corporate-tax rate.
I question if certain top Republican leadership may have saw opportunity in Trump’s corporate campaign-promises to further rationalize supporting their GOP trickle-down theory. (Maybe they think Trump could take the public hit for any GOP party economic risk and possible failure.) However, maybe it is Republican Congressional leadership who will eventually, take the public hit if certain corporate lobbyists somehow talked Reagan into taxing some smaller corporations more than the largest, and some, with an additional Flat Tax Fee, so that they could financially outcompete their growing corporate competition. Four decades later, they still support it, ‘with Trump’.
It all makes perfect sense now, give people a tax hike so that they can forgo health insurance so that those infinitely wealthier can reap the benefit of their taxes being reduced. It's genius!
Just what Donald and promised on the campain trail only for the benefit richer and not poorer folks which apparently is to the benefit of those who have less. Dynamic legislation at it's best.
Not to mention what will become of the deficit down the line.
1
More publicity is needed about how the abolishment of medical deductions in this tax bill will hurt families facing economic calamity from huge medical expenses. Seniors living in facilities now use all their earnings to pay their medical bills, this bill will just force them into destitution earlier. What about families who struggle financially every day just trying to pay the medical bills of parents, chronically ill children and spouses? What about young people trying to get back on their feet financially after serious accidents and now face a lifetime of medical and/or skilled nursing needs? This "relief for the middle class" will only drive all these folks into bankruptcy sooner! How can Republicans live with themselves knowing their tax gains comes at the expense of fellow citizens engulfed with enormous medical expenses?
4
Given many of the details that are coming out, perhaps the bill should be named the "Tax Jobs and Cuts Act"?
1
How can the GOP fix the tax code when Trump refuses to show his own tax returns.?
Such a double standard,
2
Unfortunately, by their insistence that their speedily and haphazardly crafted tax legislation will stimulate the economy enough to provide future income tax payments which will pay off the national debt... the Republican Congress is literally "betting the farm." Seldom a good idea, as the problem with a gamble such as this is that there is no room for error. I sure am glad these gents have never made mistakes that have harmed others. Oh, wait...
1
As usual the Republican base is living in a different time, or should we say, longing for a different time. Trickle down?, this is a bad joke, most of what is going to trickle down is increased national debt. Look at what happened with the Reagan and Bush tax cuts. Increased jobs?, another joke, as long as China and India and elsewhere have a seemingly inexhaustible pool of cheap labor, and as long as there are no equalizing tariffs, manufacturing and service jobs that can be outsourced, will be outsourced.
I will not be voting for Senator Dean Heller this year or any subsequent years. Right now he is doing TV ads on how much he is a conservative. Well making the budget bloat is not a conservative and giving money to the rich will not work. It is to bad he has been paid by the lobbyists. I am appalled he would do this tax cut on future generations. I hope when he gets older his family which he raised to be morally corrupt puts him in a nursing home and taxes him on medical care. Him and his corrupt lawyer and business friends are a piece of work.
3
Why ?
What is the Republican's idea for AMERICA IN THE FUTURE? More importantly, what is OUR vision for OUR future?
What about social cohesion and equality of opportunity? What about our children's and grandchildren's future? Is THIS the America WE WANT?
All we see from the Trump regime is DESTRUCTION. Is the end game that the US winds up like Yemen or Syria (or Kansas) - a place unfit and without hope ?
1
The major media outlets must investigate and report on the ethics of Trump signing into law a bill that will benefit him by 20 million dollars a year and his family to the tune of one billion dollars because of the cancellation of the estate tax, according to NBC.
This is a potential ethics violation of mammoth proportions that should lead to immediate impeachment. This tax bill is a gift to the one percenters, and it is especially a gift to Trump who unfortunately has the power to sign it into law.
NYT, WaPo, NBC, CNN, etc: You must investigate and report on the ethics violation hanging over the White House.
2
So we have no regular order and Republicans want to just ram this horrific bill through based on a totally partisan position. Just like they accuse Democrats of doing with the ACA which was debated for 11 months. And no one calls them on this except John McCain. The provisions in the bill are beyond bad.
The corporate tax rate is permanent, but the middle class pittance cuts expire down the road. Middle class Americans actually pay their taxes, corporate America pays an average of 19%, not the 35% we have now. This is a joke.
The removal of the individual mandate will provide more money for these tax cuts for the rich, but will elevate the cost of healthcare for those of us who buy our health insurance on the open market. It will hurt, not help most small businesses and remove millions from the ability to even have health insurance. The senate bill would remove the deduction for state and local taxes impacting states like New York, New Jersey and California to further enrich those already wealthy in Red States who pay much less or in some cases none at all.
This is not tax reform or an overhaul, it's a tax cut for wealthy Americans and corporate America. It's equivalent to theft. Orin Hatch said he's tired of hearing the tax bill proposal is for the rich. Orin, sorry you feel that way, but read the provisions in the bill and explain to us in what way the contents of the bill in any way help people who need it the most.
Republicans are disgraceful.
1
Federal Tax Reform 2017
The federal tax reform should include the following:
Free secure on-line internet tax filing software service for individuals and small companies with telephone and in-office hand-holding for those who want it.
Permanent federal tax credit for purchasers of electric vehicles indexed to greenhouse gas global concentration.
Permanent federal tax credit for photovoltaic and wind generation indexed to greenhouse gas global concentration.
No federal tax increases for individuals and joint filers with net gross annual incomes below $100,000.
No federal tax increases for individuals and joint filers graduate students. with net gross annual incomes below $100,000.
No federal tax decreases/ reductions for individuals and joint filers with net gross annual incomes above $500,000.
Medical expense deductions beginning at 5% net gross annual incomes.
Get rid of Alternate Minimum Tax (AMT).
Get rid of tax on Social Security Benefits for for individuals and joint filers with net gross annual incomes below $500,000.
Get rid of tax on Armed Services retirements for for individuals and joint filers with net gross annual incomes below $500,000.
Estate/ inheritance tax of 25% on estates greater than $10,000,000 ramping to 100% at $100,000,000.
Automatic identification of tax cheaters.
Aggressive enforcement of identification thieves.
Bounties for tax cheat whistleblowers.
Bounties for identification theft whistleblowers.
The big money conservative donor class, the Mercers and the Adelsons and Kochs and the rest, who are ready and willing to throw the nation that nurtured and enriched them under the bus for a dollar, may reap some undesirable side effects if they continue to attack the Social Security and Medicare of Americans who have worked and payed taxes all their lives. It very sad how greed can blind otherwise intelligent humans. People who get W2s have the same right to select their leaders as business owners, and I hope enough people are disgusted by what they are seeing to vote out the GOP next year.
Progressives, if you hadn't been so singularly focused on sanctuary cities, transgender bathrooms, etc., we would have had more Democrats in the legislature and wouldn't be in this situation. Start focusing on issues that actually matter to the majority of your constituents. Though, honestly, it's probably too late at this point -- Rome is already burned.
2
Why would anyone think businesses need more capital? They clearly have all the Capitol they need.
This vote for an unprecedented transfer of wealth to the top .1% and large corporations on the backs of the poor, working and middle classes is despicable. Wealthy individuals and corporations already take full advantage to evade taxes and lower their tax burden. Now the wealthiest among us and their heirs will be further enriched while over time the 99% will find their taxes and insurance premiums increase and their Medicare, social security benefits, and government services erode to pay the deficits incurred. A rising tide lifts all boats only when those boats have no holes. Corporate profits will multiply offshore as the luxury yachts of the .1% rise and the 99% work fast and furiously to plug the holes in their rubber dinghies.
1
Methinks wealthy capitalists addicted forever to that money drug will one day - unless they are by then dead and gone - face a new kind of revolution. And they should remember that they will not leave this earth with kind words following their greedy and selfish behavior.
It's totally uninteresting how much they give in charities when you see that they could still have given ten times as much without noticing it in their wallet. And the charities they give, they do out of selfishness, to dampen the impression of greed.
When will they start to lead for the better of mankind rather than for their own position.
Actually, their behavior makes me queasy and pessimistic for the future of the world. And as for the US: their selfish behavior has cost the US the respect of the rest of the world as well as the solid place as a world leader.
1
Too bad democracy is being killed by these same folks who are taking away middle class healthcare options.
if only we could vote them out.
Voting them out was the only way, but with gerrymandering and voter suppression laws we don’t stand a chance.
TAX REVOLT.
3
“The result is landmark legislation moving at breakneck speed. It’s a monumental accomplishment.”
It's a Lie wrapped in Misinformation and covered with Misdirection...
2
Wonder if there's any buyers remorse from the third party or non-voters yet.
Blue states would lose big and some red states would win big. People in blue states might move to red states and throw out the red congressional people, gerrymandering notwithstanding. This Republican version of wealth redistribution might have long term unintended consequences when the losers redraw the electoral map. States like Florida could go blue
8
These so-called representatives are not representing anyone but the corporations who line their coffers. They have cut the throats of the rest of their constituents. I am deeply disappointed and worried about how many of who lost our careers during the last recession are going to survive this.
55
The Republicans have shown themselves to be almost wholly owned by the banks and fossil fuel industry with the House passage of a tax bill and the Senate's version passing committee along party lines. The middle class loses big time and all those living from paycheck to paycheck will find no benefit if either measure passes and is sent to Trump.
33
FROM THE WASHINGTON POST:
"...Nor does it include the fact that passing tax cuts this year would trigger automatic cuts to Medicare starting in January. Not a decade from now, or five years from now, but January. Overriding these cuts would require 60 votes in the Senate.
Perhaps because the legislative process has been so rushed, many senators don’t appear to even know that these cuts are in the offing. Even so, when given the opportunity to vote for an amendment explicitly ruling out cuts to Social Security, Medicare and Medicaid if their tax bill blows a hole in the budget, Republicans voted no Wednesday."
147
Paul Ryan’s smirk of glee with the passage of the tax bill today made me sick to my stomach. Disgusting repulsive dishonest man.
78
A 400 page tax bill passed the house two weeks after introduction without a single hearing?
Is there a state legislature in the country that would do something like that? Would any state tolerate a legislature that did something like that?
39
Reminds me of Ronald Reagans tax simplification. Sounds great wonderful populist idea. Short sited, immediate gratification and the fallout will take a decade or more to recover from.
So short sided. Remember the collapse of the Savings and Loans system. Billions and billions of dollars have been invested based upon iur current rules.
This is totally shortsighted and pushes immediate gratification. Contact all your GOP representatives and ask him to represent you and the rest of Minnesota. We must look to protect future generations!
16
NY State pays approximately 49 billion more to the federal government then it gets back. The new tax proposal will increase that number significantly. It's unconscionable that republican members of the house that live in NY support this. The same goes for states such as NJ, California and other high tax states. Let's vote these guys (senate and house) that support these new tax proposal. Corporations have had record profits over the past few years and don't deserve anymore of my money.
34
If you fought against the repeal of the ACA, you should fight against this. It is essentially the same bill dressed up as a tax cut. The results are similar. The loss of health insurance for millions and a tax cut for the wealthiest. Except, a much bigger cut.
26
There are more important things than money. There is the honor of meeting the needs of your constituents; of choosing self-sacrifice over self-interest; of acheiving the respect and adulation of those you serve. Who among Congress can say they have the best interest of the people in mind?
20
Any republican who resists this bill and helps stops it is a true patriot! Enough is enough!!
23
Don't hold your breath on that.
As several other people here have suggested, if this horror story of a tax bill passes, STOP SHOPPING! Do not buy anything that you do not need. That, and voting them out, are the only ways we have to fight back against something that is so reprehensible, so despicable, and so sadistic.
29
The GOP set up the reform bill so that Individual Tax Cuts are temporary, and expire in 2025. Corporate tax cuts never expire. If this latest Trickle Down Economic plan fails as all other GOP ones in the past have, then there will not be enough funds for basics, military salaries, highway/bridge/rail/airport maintenance, construction, repair, FEMA and all disaster relief, the loss of all this would undercut economy and lower standard of living for majority of Americans. GOP bill benefits large corporations, but not small businesses. Small businesses were not even a consideration. The truly evil last minute inclusion of ending mandate on health insurance savings is temporary, as those 13 millions Americans will be forced back to the much more expensive Emergency Room for their healthcare, which is paid for by the taxpayer.
Republican voters want this? Really? Do they not understand that they've continually elected people who do their utmost to undercut their voters lives and those of their children, their grand-children? How do they not understand these monies given to corporations and wealthy top 2% will be paid for by cuts to services to ordinary Americans, medicare and social security will be taken away to cover loss revenue. It's hard to fathom why a segment of population is so bent on destroying this country, destroying their own families lives. But they are, at least by their votes.
20
A few are heeding the lessons of Kansas but the majority of Republicans aren't even learning about it. Our separate media streams are making it impossible to stipulate to shared facts and I don't know how this ends but for sure there will be lots of ignorant rationales when it does. What a brief time, a flash in the pan, for the American project that showed such promise.
2
The trickle down economics of this program will do one thing. Trickle back to empty houses in N.J. We are just recovering from the recession, people are finally putting money into their homes and neighborhoods are rebounding. The GOP have to be a bunch of idiots. “Empty homes, coming to YOUR neighborhood soon.”
11
This bill "sucks" on so many levels, and hurts so many people. For me, I will not see a change in my tax bracket, but my major deductions will be taken away: State and local taxes, college tuition, and medical expenses (which are already constrained by the fact that one can only deduct expenses over 10% of one's adjusted gross income -- a hard threshold to exceed). I will certainly pay more, maybe a lot more in income taxes. Aside from the gross unfairness of taxing the same money twice, it is clear that most of the socially-positive aspects of the existing tax law will be diminished or removed entirely.
As well, the economic "theories" that the Republicans rely upon to justify this bill have been completely debunked by real economists, and by the Kansas experiment in Supply-Side Economics. It is all so much smoke and mirrors. If one version or another of the Republican tax plan becomes law, we'll all be swept into the Bizarro World where up is down...etc
17
The entire bill is reprehensible...to do this to students?! And this part about the abolishment of the medical deductions is so heinous that it defies description. It is monstrous, despicable, cruel, and vicious. Who, in their right mind, would want to crush the weakest/sickest/most vulnerable amongst us????? To push them FASTER into destitution????? Or punish young people who are trying to get an education? (I know; republicans abhor anyone with an intellect; people with an intellect do not vote republican. They also hate the sick, the elderly, the handicapped, the poor...What the HELL is wrong with them?!) The GOP, collectively, are not normal, I will tell you that. "Normal" people do not plot like this against others--to harm and disenfranchise others for the sake of people who are already fabulously wealthy. And all for the sake of GREED. There are stinking black holes where their hearts should be, and they may think that they are smart, but they have noting but rank air in their heads, and their blood runs icy cold, like the reptiles they are. All I can say is God help us, but if they can push this foul bill through, you have to wonder if there IS a God...????? I cannot see these GOP lice as human; they are demonic.
28
With the passage of this bill without so much as a concern for those of us (like me) who live on reduced incomes BECAUSE we have a chronic illness like Cancer, Parkinson's, lymphedema, or are elderly, disabled - we hit that (costs above 7.5% of adj gross income) pretty fast when you don't make a lot of money. Because you're sick!! Or old! Or disabled my god they are trying to commit genocide, they want us to commit a mass suicide? Or perhaps die out slowly in a mass depression?
1
After this, we will need one of those tony offshore tax advice firms that find the legal loopholes and ways to park funds elsewhere to look into what they can do for the middle class.
6
I like the idea of a consumer strike. Refuse to buy anything we don't need. Imagine the heads of GM, Apple, Walmart wringing their hands and asking how we can be lured back into financing the whims of the pathologically greedy. It's not a bad picture!
1
Perhaps that is Amazon's next business model, supplying ubiquitous off shore legal and accounting services. Right after they take over the pharmaceutical trade and before they decimate the auto parts business.
So let me see if I get this straight. GOP lawmakers are pushing for a tax reform that at the end of the day will increase taxes on the poor and the middle class, undermine the social net or completely get rid of it, take away Affordable health care and shift all this resources to overseas banks, ñets not forget that this legislation has a lot of sunset provisions was written behind closed doors and designed to pass without Democrats, wow Government of the rich by the rich for the rich shall never perish from the face of the earth,,, btw where are DJT tax returns
17
We seem to be missing the point. When I was young 40's-50' doctors visits were $15.00-$20.00. The Doctor had a nurse and a receptionist (who doubled as a file clerk and accountant). Now we pay $300-$500 or more, but we get a doctor three or four nurses, a receptionist, a couple of clerks, and we send all the records, billing , and accounting off site. Regulation control and tort reform are needed. Don't we have enough lawyers. Maybe we don't need tax reform.
7
Unethical, immoral, lying Republicans set the stage for another painful recession and low information voters help them do it. What is wrong with these people? They would rather go along with policies that they believe will hurt those who have even less than they do than vote for a party whose economic policies are generally constructive and help almost everyone.
Resentment conquers all —especially if you are the voter doing the resenting and the fearing.
10
People with graduate degrees vote overwhelmingly Democratic.
The graduate student tax penalty is no accident.
24
Senate and House tax scam raises the poorest TAX RATE in the US from 10% to 12%
Yep, and that is a 20% increase on low income earners subject to the federal income tax which is huge.
Major medical costs: The decision to eliminate the deduction for medical expenses exceeding 7.5% of adjusted gross income was one of the bill's "tough calls," Brady said Friday. "The call is this: Do we want a tax code that has special provisions that you may need once in your life, or do we want a tax code that lowers rates every year of your life?" he said.
Stadium bonds: State and local governments could still issue bonds for your favorite professional sports teams, but the interest would not be tax-free for bonds issued after Thursday.
https://www.usatoday.com/story/news/politics/2017/11/04/15-things-republ...
7
Did you fail to notice that the standard deduction would also be raised?
So right and it's going to put every sick and Elederly and disabled not on 100% Medicaid- wait- they're taking that away too- it's genocide.
Amazingly the Republicans feel it is ok to raise the taxes of millions of Americans and lowering it for others. This is wealth redistribution that they have complained about. Making the working middle class pay for corporate and wealthy tax cuts is scandalous.
22
What democrats never mention or, more likely, don't even know is that many Americans in those states with high real estate taxes already lose their real estate tax deductions because of the Alternative Minimum Tax.
The AMT requires a separate additional calculation with fewer deductions (and does not include a deduction for real estate taxes). It usually results in a higher tax bill because more of a person's income is taxable. It's the higher of the two calculations that is owed.
Its primarily target is those in the $200,000-$500,000 range
6
Republicans don't seem to give two wits about the harm they are doing to the vast majority of American taxpayers just to please their wealthy benefactors. One surmises they show so little respect for the intelligence of their constituents they believe they are are so extremely gullible they will accept anything these Republicans say no matter how untruthful. And maybe they're right. Republican voters appear to be so poorly educated they are willing to believe Republican claims that their tax plan is good for the "little person". That is so far from the truth it bears questioning how long the average working person is going to swallow this Republican hogwash. And that is what it is, nothing but smoke and mirrors sound and fury signifying nothing. How long will this subterfuge last? We shall see, we shall see.
DD
Manhattan
24
Just Who Gets The Middle Class Tax Cuts?
The “doubled standard deduction” in the tax plan is rather deceptive. If you do not itemize, you can use the standard deduction, which for married couples filing jointly was $12,600. The Republican plan would replace previous provisions with a single deduction of $12,000 ($24,000 for married couples.) It’s rather involved, but is designed to encourage people to not itemize
Taxpayers who do itemize their tax deductions for things like mortgage interest would pay tax on more of their income under the Republican plan. The proposal says “most” itemized deductions would be abolished anyway, but those for mortgage interest and charitable giving would be retained, but so much is lost. Republicans shouldn’t say they’re doubling the standard deduction without mentioning that they’re also killing exemptions, something the Democrats have always promoted.
Trump’s goals are to bring relief to corporate America by lowering corporate tax rates to compete with other countries, thus greatly improving our economy and encouraging massive growth. That’s fine, but the rest sucks big time..
Deductions that are necessary to our survival are being removed, and this is especially true for senior and elderly Americans.
https://newswithviews.com/just-who-gets-the-middle-class-tax-cuts/
7
Only 1/3 of American taxpayers itemize. And in the higher brackets, they lose many deductions already to the AMT.
1
Silver lining? If this passes the Republicans will get their just deserts in 2018.
Although the mild manner the press has addressed this is shameful. Kaplan and Rappeport could have, and should have put critical facts in starker relief. The liberal press including the News Hour which I have on right now have been soft peddling what a disaster this will be.
11
I guess the late Leona Helmsley was right: "Only the Little People pay taxes." We Leprechauns and other Little People need to get our gold back. Congress has "bailed out" every industry and special-interest group except US. Retired workers on Social Security barely get enough cost of living increase to buy a few more cups of senior coffee at McDonalds. Congress, how about giving us a retroactive cost of living increase equal to what you have been giving yourselves and to federal employees all these years? And stop punishing working people with the federal income tax. REPLACE the income tax with a new federal tax on real estate, stocks, bonds, cash deposits, big-ticket luxuries, and other tangible assets which cannot be hidden on an island off Britain or in the Caribbean.
16
The House Republican tax bill, explained - Vox
But the bill would hurt the poor and increase the deficit
The GOP’s tax reform proposal would leave other groups worse off:
The personal exemption (currently offering households $4,050 per person in deductions) is eliminated, replaced in theory by the higher child credit and standard deduction.
12 percent (raising the poorest taxes from the current bottom rate of 10 percent),
25 percent, 35 percent, and 39.6 percent.
Blue state residents would pay higher taxes, as the state and local income/sales tax deduction is eliminated and the one for property taxes is somewhat curtailed. That said, wealthy people benefiting from these deductions will likely see this tax hike offset by the other tax cuts in the package.
Poor families were rumored to be getting a tax cut due to a change in the refundability formula for the child tax credit — but that didn’t make it into the bill. The credit only goes to families with $3,000 in earnings or more, and phases in slowly; some in Congress were pushing to lower the threshold to $0, but they didn’t succeed. Instead, a provision denying the child tax credit to American citizen children whose parents are undocumented immigrants is Included.
3
One of my BIG questions is what no deduction for state taxes and mortgage interest do to the real estate industry, no even more serious real estate values, wherein lies most middle class savings ? Smart *****
4
Blue state taxpayers need to push back against city, state and local government of every type to stop waste, eliminate nepotism and self eliminate. Long Island shouldn't have 124 school districts. Suffolk doesn't need twelve localized police departments plus a sheriff's department plus a public safety agency. Penn Station shouldn't have MTA police overlapped by NYPD and NY State Troopers and the NY National Guard. Why ate there state, county, town, city and village parks and the bureaucracy to support them? And that's just the tip of the iceberg.
it is right and proper to remind every Republican voter in any state where state and local taxes are are important tax deductions that no matter what way their Republican rep voted.,the fact that Rs have a majority in the House, is what created this attack on their deduction. No Republican from those district should ever be elected again.
13
Enough with the idiotic, liberal boo-hooing about “tax cuts for the rich.” The U.S. has an extremely progressive tax code, so almost any measure that involves tax cuts is going to bring some amount of tax relief to the wealthy—that is, the people shouldering most of the tax burden. The proposals in Congress, though, are not just about tax cuts but also about larger structural tax reform. A simpler, fairer, more neutral tax code as envisioned by some of the proposed bills would significantly reduce the influence of special interests and get Congresss out of the business of centralized planning and social engineering through prefertial tax treatment. Here’s to at least one reader hoping that tax cuts and tax REFORM happen, and happen soon.
3
"Simpler, fairer and more neutral," as though that were the point of this.
3
It’s not progressive above about 75,000 dollars. We are in the 1% and our federal tax rate is about 20%.
10
Funny how the estate tax is eliminated but the payroll tax remains.
Vote out GOP 2018. Then Repeal and Replace!
15
very simple to deal with this - in march when its time for the debt ceiling
3
On a somewhat related point, the taxing of graduate student stipends as well as tuition stipends for the children of university workers smells an awful lot like a cheap shot at intellectualism. Is it paranoia to think that perhaps part of the Republican plan is to reduce the number of intellectuals? College educated people are voting significantly against Republicans and this is a good way to reduce that population.
32
My thoughts and prayers are with the average Americans.
18
The swift approval came two weeks after the bill was unveiled, without a single hearing.
Says it all.
22
Your tax dollars at work (paying for Trumps government lawyers) so he can keep business profits that none of us benefit from.
https://www.usatoday.com/story/news/2017/11/15/taxpayers-pay-legal-bill-...
15
More money in the pockets of the execs...........less money in the pockets of the line workers who create the wealth for the execs.
Pathetic. How about a new American Revolution? "Occupy Congress," "Occupy the White House"?
Is Congress really that stupid? I'm suspecting payoffs--bigly, amazing, beautiful graft and bribes. Lock 'em all up!
12
Well, the sheep are sheared again! And the Making Great of America rolls forward....WITH the head-nodding approval of a fair percentage of voters (but by no means a majority--since the Republicans and Trump have wedged themselves into position through gerrymandering, low voter turnouts, shaving of voter registration lists, and...oh, yes....lying constantly and persuasively to an electorate that simply hasn't done a good job of knowing where its own interests lie. This is oligarchy, folks. Soon to be plutocracy....and without any exaggeration at all, that's the point at which the "dystopias" envisioned by the Aldous Huxleys, the George Orwells, the Phillip K. Dicks, and other dark futurists, begin to settle in to permanent form. I wish I didn't have to say this, but we're at a dreadful tipping point in this country, and right now, it doesn't look like it will end well--for us, or for the planet.
165
For those who are not familiar with the French Revolution and its causes, here is a famous cartoon from that era that could easily be retooled for the present: https://duckduckgo.com/?q=le+tiers+%C3%A9tat+portant+le+clerg%C3%A9&...
We all know how that ended.
7
Praise the lord and pass the Give Donnie a Billion dollar Tax Cut Swindle
containing
the Baron's Grand Children will never have to work Estate Tax Repeal.
Coming tomorrow:
a new rule allowing
Uday and Kusay to bring dead elephant parts back to the Fatherland.
Makes us all miss James Buchanan and Calvin Coolidge
8
I have been screaming all day at the cable TV and the Republican propaganda machine. It appears there is nothing we can do anymore to stop the socialist redistribution of any wealth that remains in the middle class to the corporate class. I am lucky enough to have some assets to invest. Here is what I am going to do should this abomination passes. I am going to buy equities until all the stock buybacks and dividends from the tax cuts are paid out. Then I am going to sell, sell, and sell. It looks like we are repeating the 1920s almost identically. Unless the Trump voter tribe realizes they are being taken for a ride. But I have given up that that tribe cares and is ready to blame non white tribe for their loss.
6
This is the most exciting news that I have heard in a long long time and I have ben procrastinating opening my own company under the Obama high taxation over 8 years. Now I feel justified in opening my own company and paying a flat 20 percent tax on my earnings. I don't want to pay a farthing higher and I am hoping for a 15 percent flat corporate tax rate and abolition of the State tax. I voted for Trump and we need to let his vision come true for America. More than helping lazy people. I am all for rewarding the guys who dare to open corporations and employ people. We want to encourage a reward based Capitalist culture and not the losers and dregs of society. You are free to move to Mexico or Canada. Adios and welcome Make America Rich Again. There is no guilt in being rich and everyone should try not to be on the losing Democrat team. MAGA!
2
So you waited for something more than eight years to start your own business....hmm, your ambition is overwhelming. Good thing that the folks who started all the great American companies that exist today weren't held back by a fear of having to pay taxes.
4
Fake. Someone who waits now 9 years to start a business missed the boat.
9
Not a farthing more, huh? Utter tommyrot.
1
A balanced budget for your first complete fiscal year, Mr President? Excuses, excuses... FAIL.
4
Americans, you're on notice. The Congress folks who voted for this measure do not care about you. They care about donors. But there will always be more of us than them. Rember that in November 2018. Do not sit it out. Vote. Be heard. Show them they work for us. Please. Our Country depends on you.
16
I'm really tired of these clowns voting based primarily upon party lines in lieu of the actual substance of the bill.
A revolution is coming and it won't be soon enough for me.
12
Republicans operate under the mystifying notion that the US dollar is not a fiat currency that can be moved across borders.
5
Shameful- raising taxes on and denying healthcare to ordinary Americans
Yet the Trump base will support it as they go porer and sicker to their premature deaths
10
Political gurus I trust have identified 7 of the 14 CA Republican House Districts as "flippable". Of Representatives in these 7 Districts, two apparently felt nervous enough to vote against the deplorable House tax bill passed today (Issa and Rohrabacher).
The five CA GOP Representatives who voted for the tax bill and are in arguably vulnerable districts are:
CA 10 Denham
CA 21 Valadao
CA 25 Knight
CA 39 Royce
CA 45 Walters
Especially given the disproportionately harsh impact this tax bill has on Californians, and its facilitation of plutocracy and minority rule, these votes are betrayals of us 99.9%.
Many of us will support efforts that target these sellouts for defeat in 2018. If they hope no one is paying attention, they are sorely wrong.
14
The Supreme court needs to end gerrymandering. That is the last hope for a peaceful end to this stupidity.
10
Reply to John in Woodbury:
I'm so furious, the only two words I can think of are:
General Strike
7
So the Greedy Old Party has done it again! Crumbs to the middle class and lower-income folks so they'll overlook the dumping of huge benefits (at their expense) to the already-rich!
The GOP should be ashamed of themselves.... though (as exemplified by the present occupant of the White House) they're incapable of shame.
Sadly, among the supporters of this bill was from Upstate New York. John Katko, you should be ashamed of yourself!
10
A straight on attack on the middle class.
12
Considering only about one-third of Americans itemize deductions, it's hardly an "attack". In New York State, only 3.2 million taxpayers itemize (approx. 35% of filers).
For the next 5 years, 92% of taxpayers would pay the same or less*. Good luck to anyone trying to raise taxes in 5 years. It's kind of silly to be complaining about tax hikes that may never happen.
****************
*"The House just passed its big tax bill. Here’s what is in it.",
https://www.washingtonpost.com/news/wonk/wp/2017/11/16/the-house-is-voti...
We are doomed. This administration is destroying all hope and frankly that includes hope for the country and the planet. May the God they claim as holier than thou disciples of give them what they deserve.
7
George Harrison-
"Let me tell you how it will be
There's one for you, nineteen for me
Cos I'm the taxman, yeah, I'm the taxman
Should five per cent appear too small
Be thankful I don't take it all."
Corporate tax rate- "The bill puts us more in line with the rest of the world."
ESTATE TAX-Does the bill put us more in line with the rest of the world? NO. NO. NO. And NO.
If you get a 600-$1200 tax break, but pay more for health premiums (or lose your health insurance), or lose your deductions (state/local/property taxes), you end up with less money.
You're getting your pocket picked. You don't realize your money is gone until you reach into your pocket to pay for your groceries.......and there's nothing there!
10
Ok Dems. Now you have your hit list: every Republican who voted for this travesty of a tax bill. No excuses; you have to go all out to defeat them all in the next election.
14
This is how Capitalism works, by taking money from the many to enrich a few.
Think about it.
12
Correction – Trump and Republicans incorrectly use the phrase “$1.5 Trillion Tax Cut.” It is a ‘$1.5 Trillion Transfer of Wealth through a Loan.” A loan obligation of US taxpayers and their children – signed for by Trump, Republicans on top of the already planned $10 Trillion in additional deficits and debt.
They intentionally mislead the public into believing they are getting something for nothing. Yes, for Corporations and the Wealthy; No, for the Middle-Class. This is false advertising.
More importantly, they have been knowingly and intentionally grossly neglect in developing and critical review of their economic assumption, models and impact of legislation. Likely, this is criminal – if not, it should!
Will anyone apologize for misleading the public into believing they are getting something for nothing.
Have you ever heard Trump apologize for anything, including deceptive advertising, short changing hard working middle-class taxpayers, and multiple bankruptcies?
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
4
Disgusting. I'm an independent voter who has reached the following conclusion. The GOP can be reduced to the following 2-part strategy:
(1) use fear & anger to stir up voter support and find enemies in Democrats and anyone who looks "different" (channel these deep emotions through Fox News, Rush Limbaugh, Ann Colter, and social media). Copy and paste the Lee Atwater playbook to attack your opponent with ominous music soundtrack.
(2) only pass legislative bills that will get donor support (i.e., big check donations so you can get re-elected in 2-4 years. Repeat step #1 and enjoy the ride! But while you are repeating, check out #3 to make sure the process is smooth.
(3) Be sure to express outrage at the incompetent people in Washington DC who are robbing your tax dollars. Try to avoid taking accountability for your own actions at all costs! Welcome to the new GOP.
12
I keep reading how this tax bill is going to hurt middle class, lower middle class and strivers from the low-income groups. Look at how a benefit such as "free" tuition in exchange for research will now be taxed. Read how a janitor worked in a college for over 20 years, putting his children through the school by taking advantage of a free tuition benefit for employees. That tuition will now be taxed as income. How does that help?
I don't think our representatives are reading the same analysis that I read in the NY Times, WaPo and the other news sources. It is becoming more and more apparent that our representatives don't really represent the people who elected them. They represent themselves. And I am sure they will not have to pay tax on the benefits that large corporations will bestow upon them for voting for business interests.
16
More than one has blurted out the truth: "If we don't get these tax cuts, our donors will stop taking our calls." Their actual constituents can go rot.
The cognitive dissonance is just lovely. We don't want a mandate for health insurance because we don't want to share the cost. But if we get hit by a bus we do want someone to pay to put us back together again.
Trickle down has been tried and found to fail. Let's do it all over again. Hey!
I love America. Donald gets pals to form non-profit land trusts to hold the development easements on huge chunks of land in multiple states where men in dumb pants drive around in carts chasing little balls, not their own. And he gets Yuge tax cuts for the undeveloped commercial land.
And it's all legal. Only the little people pay tax.
11
Depraved indifference to the needs of the people. Depraved indifference to anything resembling responsible budgeting. Depraved indifference to creating a just society. Yet, Paul Ryan is radiant with victory, as radiant as old man Potter contemplating his victory over George Bailey. The Potters of the world never have enough. They must acquire more just to stay alive.
16
I feel sorry for the extreme greedheads who are running our country. I wish I could reassure them they all have enough; they can stop their ceaseless, joyless, money-grubbing. But these are sick people, ruled by their pathologies, and as such cannot hear sensible truths as long as their unremitting cravings for more more more are not confronted, much less addressed and released.
This tax bill is what government looks like when it is BOUGHT by corporations, special interests and super-wealthy creeps like the Koch brothers.
This tax bill is what government looks like when it is SOLD by Congress people who have lost their conscience and soul to big money to keep a seat that really belongs to American citizens.
Nothing in this bill for regular citizens who need affordable health care, who need a government that solves their problems...lots for the Top 1% super-wealthy.
Hurry hurry SP Mueller. Every day another insult to the American Constitution and more destruction to American democracy. Every day 45 disrespects the law, the environment and real Americans.
23
Your third paragraph sums it all up quite nicely. We so not need the government to solve our problems. We should each succeed or fail on our own. Safety nets only serve to cushion failure, in effect limiting the value of success. I'm the first to admit that I don't have the killer instinct to succeed, to accumulate wealth, yet I would never deny that right to someone else or demand that I share in the spoils of their efforts. In capitalism, for every Bill Gates, there will be a million homeless. For every Elon Musk, there will be ten thousand with untreated illness. That's the survival of the fittest that is a fundamental foundation of capitalism. Those who don't have the stomach for the kill or be killed environment should step aside and not hamper those who do.
Trickle Up Economics. Permanent Tax Cuts for Corporations, 1 year Tax Cuts for the middle class? If you make $ 59,000 per year for a family of 4, an additional tax benefit of aproxamtely $ 1100, if you are trump, you will benefit 1 million dollars, this is your president elect.
Welcome to the House Republican Tax plan.
8
I was on Capitol Hill when the president visited, and was not happy with what I saw. The entire east side of the Capitol grounds was closed to the general public. I saw school children and adults lined up along the perimeter trying to get a glimpse of the president and his motorcade.
There is a wall that faces the east side of the Capitol, and it is a great place to sit and watch the goings and comings on the Capitol's east plaza. I am not sure why the public who owns the Capitol was not permitted up to that wall.
After all, since the motorcade has to drive on the public streets, and we are not yet at the point where people are cleared off the sidewalks before a presidential motorcade passes by, the security justification of shutting the Capitol plaza is not clear to me.
A security dome has enveloped Washington, and we should hope the day will soon arrive, when that dome is dismantled.
8
The tax bill is a present to our President, who has sacrificed to lead us forward, spending only part of his time promoting his businesses and his clubs since being elected. He is sacrificing for is, so we should be willing to increase the deficit a few trillion, cut Medicare and Medicaid, and get rid of tax breaks to support his corporate tax cut and the tax cuts of his friends. After all, they want to end socialist programs like Obama care and Medicare that prevent each of us from negotiating our own health care costs with the hospitals, doctors and all medical privets. How can we be free with those programs helping us pay bills. And, how can corporations function if the have to pay taxes. Look how poorly we all did in the 1950's when the tax rate was high. Think how much better we all, especially the President, will be if benefits trickle down like they did in the 1890,s or in the Middle Ages. give our Oresident the tax cuts he wants by Christmas, so he can pay far less tax from now on.
4
" landmark legislation moving at breakneck speed, and monumental" says Ken Spain, a lobbyist.
AKA: "taxation without representation"
9
How many articles did we read about Corporations hording money and not hiring over the last ten years? Will you expect them to do otherwise now?
7
The purpose of being able to write off investments in the year they're made is to encourage companies to invest here.
Where is the fiscal outrage. This "tax cut" will COST the American taxpayer $1.4 Trillion dollars over the next decade, a tab that will be picked-up by our kids and their kids.
This is the ultimate in leadership abdication. Shame on anyone who votes for this.
14
A huge scam has just been presented to Trump's base.
They may or may not see it until it's too late.
2
I recommend within two years you move your 401K strategy into a cash strategy. This collapse is going to be big. It's going to kill the middle class, jobs aren't coming back and now people will have much less money to spend. Nice job Paul!
8
How do people keep voting for Republicans? How can anyone say the swamp is drained? How can anyone say that they are voting for "us regular folk?" How how how can people vote against their best interests over and over? When their, our, taxes rise and the rich grow richer, please keep in mind, this is NOT the fault of "crooked Hillary." They had better take full credit for the mess that is going to ensue.
7
Could everyone please stop talking about tax cuts. A tax cut would be accompanied by a complimentary expenditure reduction. Since there is no reduction on the expense side, this is a tax reapportionment and postponement.
So please, let’s call it what it is: it’s a T.R.A.P. but most certainly not a tax cut.
8
Please, Mr Kaplan & Rappeport, who wrote today's article on the House passage of the tax reform bill. You neglected, as have others in the past weeks, to highlight the cruelty of the removal of the medical deduction. Yes, Americans have abused this for cosmetic surgery probably, but most of us who have to pay for long-term care of our spouses/parents who have Alzheimer's use this to 'get by.' My wife, also 70, has to be in full-time memory care, costing $100,000 per year. Not being able to deduct this will more rapidly deplete our hard-earned savings. There are millions of us in this position. Medicare and Medicaid do not cover the expenses. Some have long-term care insurance. Smart. But, not all by any means. Please do a front page article on the impact this is going to have on real middle-class folks. Most Americans are not aware of this and they should be scared for themselves!
14
I just saw on the news that deductions for state and local tax deduction (SALT), mortgages, college tuition and property taxes are being eliminated or cut in half. These essential deduction staples assist the the middle and working classes. While I don't mind paying my fair share of taxes, I'm infuriated that yet again Republicans are balancing an redistribution of wealth on our backs, and the wealthy are getting a plethora of tax breaks.
We all need to be LOUD and email, call and send letters to our own representatives and those that are perpetrating this outrageous tax increase on the middle and working class, while the uber-wealthy get yet more millions in their pockets. I just emailed my senators - I hope you all do the same.
11
Total baloney. Instead of passing along enormous tax cuts for corporations and hoping that they will pass those along to the middle class workers, Republicans could have passed enormous tax cuts for the middle class workers and would have been sure the benefits would go to the citizens they are supposed to represent.
8
Funny thing is, people just do not learn from history. They want to believe that somehow this economy will continue to grow forever. Trump/GOP policies are the same ones that led to the last two great recessions. Maybe, we will have growth for a few years and more transfer of wealth to the 1%, but the bottom is going to fall out again. And when it does, the U.S. taxpayer will be asked to bail out big business again as well as clean up all of their damage to the environment.
5
Shameful and Heartless! Thus further proving the Republicans who favored this bill care only about their party and bowing to their incredibly inept leadership. My hat goes off to those in NY, CA, NC and NJ who stood up for their constituents.
5
Half the people here aren't even closely reading what's going on. No increases will occur until 2021, in other words there's around 4 years of money saving. The possible financial increase from less taxation may balance out of outweigh the future tax increases. It's time that Americans start taking advantage of capitalism again, to many Americans are simply scraping the barrel with no ambition. This tax will open greater possibilities for investment, now is the time for our country to expand economically.
Beginning in 2019, the Senate tax bill cuts everyone's taxes across the board in a manner that doesn't much change the distribution of income tax liability. In 2021, the health care mandate is to be eliminated. At that point, those who get their insurance through the exchanges will lose their health care subsidies. That is why the Joint Committee reports that low income earners will be hurt by the Senate bill.
The working poor get a tax cut for 5 years and then get the elimination of the health care mandate. I'm willing to guess that they would be happy with the overall package. On the other hand, it is arguable that they don't know what's in their interests.
We have been hearing this argument for a long time. The tax proposal puts the argument front and center. As far as I'm concerned, that is the heart of the matter. There is a gap between what the middle class wants and what others believe is in their best interests. It would be constructive to debate this one as a matter of primary importance. The middle class vote is usually decisive. Doing right by them is huge.
This morning, Rep. Ron Estes (R, KS) was interviewed on NPR, and explained that the tax bill would pay for itself by vaulting the country to 3-4% growth over the next 10 years. Presumably he's sure no recessions will occur in that time.
First, that growth rate would mean the entire US economy would be a third larger to 50% larger than it is today, in just 10 years. Does anyone believe that? Besides, he's from Kansas, the state that has just wrecked its own economy with via tax cuts. Guess he's a slow learner.
5
So Hatch attributes the increase to people not getting the health insurance subsidies? What about the many people who will continue to purchase insurance, only now without the subsidies and with higher premiums thanks to repeal of the individual mandate? Does he care at all about how this monstrosity would affect their bottom lines? Taxes, insurance premiums, mortgage payments, etc. all come from the same purse. Cutting one expense by increasing another by more does nothing for regular taxpayers.
3
My "moderate" Republican congressman in Suburban PA just announced today that he doesn't plan to serve another term after the 2018 elections. How did he make that announcement? He voted for this bill that punishes his base.
4
We've witnessed what seemed improbable: a Trump presidency. Nothing could be more bizarre, not even a tax revolt by the middle and lower classes. After all, aren't we the victims of a political class tax revolt? Would be interesting to see what happens.
3
NYT: Those of us that are tax professionals resent you referring to these tax changes as an overhaul or reform. It is nothing of the kind. The 1986 TRA enactment was tax reform and it took years for the Treasury and Congress to write all of the Statutory Regulations. Professionals and experts had to rely on temporary regs for years.
What was passed by the House today was tweaking tax rates and GIVING BIG HUGE TAX REDUCTIONS to large multi-national corporations and their owners.
Businesses that are owned by doctors, accountants, lawyers will NOT benefit from business tax rates (in other words, worker bees) BUT REAL ESTATE professionals will have their tax cut nearly in half (think Trump).
Please interview reputable tax experts like David Kaye Johnston and tax attorneys, professors before you mis-state the facts.
8
Obamacare mandate revision is a red herring to give political cover to a few recalcitrant Republican senators. Watch is fall away to gain their votes.
I hate to think what will happen when this debacle limos through. We already have too much unrest in the country.
Speaking of the "bringing into line with other countries" by eliminating state and local taxes I lived in one, Denmark, many years ago. They didn't have state and local taxes because you paid your tax bill to the local authorities. It was one bill that covered what would be separate deductions here. Also, they taxed everything, including food to cover what we don't, such as health insurance. They also had vacation pay that was held from regular salary and sent for people during vacation season. The super rich had their tricks, but the country's economy wasn't set up to please the super rich. One can guess there aren't too many changes that would put the general population at risk.
2
Republicans have gerrymandered the country to such an extent that they control whole states. Democrats reliably poll 25-35% (Minimum), but our entire congressional delegation voted for this atrocity of a bill.
I don't feel represented by any of my congressional delegation, and they seem similarly uninterested in the concerns of anyone but the 1%.
All we can do is Resist.
8
This morning on morning shows such as Morning Joe republican congressmen kept stating how unfair it is to penalize people earning less than $15k annually for not signing up for unaffordable insurance. Therefore, getting rid of affordable health care's individual mandate is essential and fair for their low income constituents.
No one challenged their obvious lie. If these congressmen voted on to expand medicaid in their state, their low income constituents would have been eligible for generous subsidies for their health insurance premiums.
Republicans from red states rejected expanding medicaid so that in the future they can get rid of individual mandate with an excuse that it is unfair to penalise low income individuals.
6
This is such a crisis
Creating a new favored tax status for business owners at the expense of workers will starve the treasury and force cuts to social security, Medicare and Medicaid.
The reform we need is one that taxes all income as ordinary income including income earned as dividends, carried interest and pass through
5
Here we are American citizens; tax legislation written and pushed by corporate America that benefits corporation who's speech and monetary influence is protected by the US Supreme Court under Citizens United. This ridiculous distortion of democracy has given us a President supported and elected with the help a hostile foreign government. I hope this country is strong enough to weather what lays ahead of all us. God help us all.
6
The taxation of tuition benefits, as in the House bill, would have devastating consequences for our preeminence in high technology, since it would ensure that future engineers would receive their advanced training in countries other than the US. Moreover, it would have a number of unintended consequences that the House Republicans seem to be unaware of. Unless they have incorporated a giant loophole, their modification to the tax code would ensure ALL scholarships are taxable. This would essentially make the Ivy League (and comparable schools) unaffordable for all but the top 0.1 %. It would also make athletic scholarships taxable! Good bye Auburn and 'Bama.
8
Our tax code used to at least pay lip service to the idea it affirmed certain prosocial goals -- education, homeownership, savings. The GOP doesn't even pretend any longer to represent their real constituents and quite openly lament if the tax cuts aren't as deep and pervasive as their wealthy owners want, the money spigot will be shut off.
When it comes to tax reform, someone's ox will be gored. There's no sense worrying about it. The larger picture is the that the Republicans need a win. I hope the Senate Republicans are smart enough to realize that the 2018 midterms elections more or less hinge on the passage of a tax bill. The Democrats can be expected to howl anytime the punch bowl is removed. They have no fiscal discipline. Ignore them.
"The Democrats can be expected to howl anytime the punch bowl is removed. They have no fiscal discipline. Ignore them. "
Excuse me! These GOP MORONS have fiscal discipline with this despicable tax bill?
3
Deal with it. It might pass.
Deal with it? Oh, we SHALL deal with these creeps! And, then again, it might NOT pass. A couple of these gems might have a conscience, or if not a conscience, maybe they will fear being voted out for their sadism and corruption, not to mention abject stupidity.
1
Whatever happened to the promised trillion-dollar infrastructure upgrade? Where is that money going to come from now that the debt is now going to be at least $1.5 trillion larger.
5
According to the Post, in his comments to the House Republicans Trump urged them to pass the tax bill so they could next turn to "welfare reform," undoubtedly Medicaid, Medicare and Social Security, as outlined in their "budget." While this may sound good to Trump, anyone who has an ill family member or aging parent will be substantially hurt by their actions. There is simply no limit to their wish to destroy the people of this country.
6
In just this one congressional sitting all procedural standards have been thrown completely out the window. After the frenzied howls of the Affordable Care Act being too quick.
If the Republican plan is to make an utter mockery of governance, as some kind of cynically shrewd political point, I'd say mission well accomplished.
5
I see that the GOP expects to finalise the tax cuts by Christmas. A bit like the European nations expecting World War One to be over by Christmas in the first year of the war. I'm not sure which view is (or was) more realistic. They might still end up winning the battle to enact the legislation. However, by slashing taxes for corporations and the rich at the expense of the less well-off, they might end up losing the war instead...
1
This bill seems to be another piece of legislation that is so complicated that the average American can understand it without the need of a tax attorney.
We see multiple different assessments of the bill depending on which political party or news organization is reporting it. Apparently not even the politicians that wrote it understand it fully.
Americans should demand tax reform that is clear and concise enough that every citizen understands exactly what they will be paying before the legislation is passed.
The overarching principle of this Republican administration is that government and the laws of the land exist to serve the interests of business, not its people. I can think of no other era in history where this has gone further away from the public good to private corporate interests. The current tax overhaul agenda, the fight to end Obamacare, the push to de-regulate and erase regulatory protections across so many sectors, the proposed reduction of government research for universities, the reversal on environmental protections, etc. The toll will be staggering on so many levels.
3
So now the few states that are carrying the rest, yet have far less representation than their population, are going to have to pay even more. More taxation with far from equal representation.
At least in the past, even though most blue states were underrepresented, their elected reps were at least listened to. Now, however, Democrats have been left completely out of the process.
The even more infuriating thing is that, when the Dems return to power, they'll STILL try to be "bipartisan".
The only solution for the few of us in the middle class, it seems, is to go "off the grid" as much as possible: barter for services instead of paying, accept trades instead of income, and retire as early as possible to collect a bare minimum of the Social Security we've been paying into before Republicans take that, too.
4
Let us hope that the Senate has more common sense and reason than the house. This bill is an abomoniation that will raise taxes on me and just about everybody in my demographic. Were this actually a simplification of the tax system/code and/or a tax increase to fund something useful for society, I could stomach it. Given this is partially funding a giveaway to the 0.1%, I find it very difficult to stomach.
9
You live in the high rent district. Thats your choice. For the rest of us, the great majority, we vote with our feet and live elsewhere. This is a good bill for most Americans. It’s about time.
For most Americans, this bill is a tragedy, and will effect them severely and negatively. The harmful consequences will be enormous.
4
Scammed, cheated and betrayed!
8
When the draconian effects off this massive tax cut for the super-rich and drastic health care cuts for the masses hits the American people in earnest, the current ruling aristocracy may just face another American revolution from those who take our duty to abolish despotic rule seriously as stated in our Declaration of Independence.
4
It's no surprise Trump and the GOP are in a hurry to pass this legislation since it supposedly will save the Trump family millions, if not a billion good old US dollars!!! How amazing is that???
5
"The House bill would tax benefits that put the children of college workers through school and help doctoral students."
Any little advantage a regular person can get, they're determined to take away and give to the rich.
11
We all have the power to stop this madness. If enough people stop shopping, we can seriously disrupt the U.S. economy. Stop buying cable, unnecessary clothes, jewellery, electronics, and cars. Just stop. We can easily take down multinational corporations and bought-and-paid for politicians. Republicans and Trump won't last a month if blue state consumers stop spending money.
13
The Republican House belongs in the Middle Ages. They are petty lords who would line their pockets with money collected by force from the poor.
6
The Republican House exists because the majority of Americans put it there. It’s about time they got their act together on behalf of most Americans.
1
No, gopher72...on behalf of the VERY, VERY wealthy. Not on behalf of most Americans. You either cannot read or you are dreaming. MOST Americans will be crushed financially.
2
My takeaway from all this corporate and industry lobbying and congressional tweaking of the tax legislation is that those of us that work for a living and collect a regular paycheck have no voice in the process and will end up paying for it... bigly. With the demise of unions and the republican party hell bent on rewarding their corporate masters NO ONE is looking out for the middle class. Especially insidious is the time bomb explosion in the deficit that will occur when the subterfuge tax cut sunset is reversed in 2025 or 26. The safety net the class relies on will then be under attack from the same actors that are setting this snow ball from hell in motion.
7
To paraphrase, we have met the enemy and continue to elect them.
9
2017 Election Day sweet
2018 Election Day sweeter
2020 Election Day sweetest
Once again, as with the health care debacle, Trump and Rs are locked in a box.
If the bill passes, the masses will revolt at the ballot box because it's a flawed piece of legislation.
If the bill doesn't pass, the masses will revolt at the ballot box - NO legislative accomplishments.
This bill is all smoke and mirrors.
The great Houdini couldn't find a way to get out of this box.
The people spoke loud and clear on Election Day 2017. There's a lot more fire and fury behind the Election Day Massacre of 2017.
5
More publicity is needed about how the abolishment of medical deductions in this tax bill will hurt families facing economic calamity from huge medical expenses. Seniors living in facilities now use all their earnings to pay their medical bills, this bill will just force them into destitution earlier. What about families who struggle financially every day just trying to pay the medical bills of parents, chronically ill children and spouses? What about young people trying to get back on their feet financially after serious accidents and now face a lifetime of medical and/or skilled nursing needs? This "relief for the middle class" will only drive all these folks into bankruptcy sooner! How can Republicans live with themselves knowing their tax gains comes at the expense of fellow citizens engulfed with enormous medical expenses?
9
Maureen...This part about the abolishment of the medical deductions is so heinous that it defies description. It is monstrous, despicable, cruel, and vicious. Who, in their right mind, would want to crush the weakest/sickest/most vulnerable amongst us?????
4
There's a strong strain of sadism among Republicans; this bill amplifies that. These are not nice people.
1
All the cries by Democrats about the GOP tax bill "hurting the middle class" are disingenuous at best.
Under the GOP Plan, the tax rates on wages get lowered for everyone. Period, full-stop. If your primary source of income is from wages, whether those total $10K per year or $500K per year, the plan allows you to keep more money in your pocket.
Second, the standard deduction is doubled to $12K, so unless you take in excess of $12K in itemized deductions each year, you are getting both a lower tax rate AND a reduction in your yearly taxable income. And guess what -- if you take more than $12K in itemized deductions each year, in all likelihood you are actually wealthy or at best part of the "upper" middle-class under any reasonable definition of that term.
Third, ending the deduction for state income tax makes the tax code MORE progressive. According to the nonpartisan Tax Foundation, in 2014 88% of the benefits of the state and local deductions went to those making in excess of $100,000 per year. Moreover, the deduction acts as an inequitable subsidy for residents of New York and California by reducing the amount their residents owe in federal taxes. Why should someone making $100K in Texas pay less in federal taxes than someone making $100K in New York? The GOP is correct to end this regressive subsidy to high-spending state governments.
How much of the elimination of the SALT deduction is going toward paying for the elimination of the estate tax?
5
I'm not gonna read your whole disingenuous defense of a horrible bill but I won't let the first lie abide. The lowest income earners, whose tax rate has been 10%, will now pay 12%. A 20% increase in their taxes. Only a fool would believe that's a sensible thing to do.
Early projections are my household will save roughly 3.5 grand a month in taxes while Rome burns. Republicans basically gave us a Ferrari payment a month while my wife gets to tell her patients they don't have healthcare and get to file medical bankruptcy.
They're giving money to people that really don't need it. Personally, I'm saving it in a bank account and then investing, thus propping up insane equity valuations more and creating more wealth for those with it. Vicious cycle.
The best part is, Rep. David Scheikert (AZ-06), which represents Scottsdale/Paradise Valley has a Q and A with our company, which you might as well bring a mop to as to clean up all the slobber. The VP of Tax and Regulations are falling over themselves.
5
What a Joke.
It would seem incredible in a time when inequality is growing worse and we are finding out just how little tax the rich and wealthy pay and how they avoid it in ways we could never have dreamed, as Corporations continue to withhold Tax owing to America as well as minimising and/or avoiding much of the tax owing on the profits made in sales in countries...and yet...
...Yet it is these rich , wealthy people as well as the companies they own and invest in that are to get the most and receive the largest rewards of this so called Tax cuts for the Middle Class...most of whom will get a pittance compared to the billions going to the billionaires who need it least.
As a foreigner I am astounded at a Political Party that is so obviously working against the best interests of the majority of the people they supposedly serve and almost every piece of legislation or laws they rescind, delay or change are without question negative, costly and onerous to 80% of the American population (at least))
From Health Care to working conditions, environmental safety, consumer protections and investment protection , student loans and standards...the Republican Party think little of most Americans and obviously do not hold their well being in any regard based on everything they try to do, have done and are continuing to do.
What a dreadful bunch of opportunists ever to hold power and who actually still have a voter base and supporters who vote against themselves by voting them in.
228
Do you want to know how they get away with this? By making Americans believe they are the "party of freedom", that's how. And a lot of them DO believe it.
4
The only concern many Republicans have is with the wealthy individuals who contributed to their campaigns. If they don't get their tax cut, or in a few cases, their giant tax-free estate, these individuals will withhold future campaign funding. Money talks.
It's very scary here in America as we watch the country turn into a banana republic.
Let us all hope that no amount of Russia meddling in our 2018 elections will protect the GOP from what they have coming.
5
From it's usual cloud of rank ignorance, the right is pushing us away from Capitalism and towards neo-feudalism, wherein resources are increasingly concentrated at the top and the 99% must fight for a commons so we can simply survive. I hope we will design a post-Capitalist economy and culture before sliding into dystopia!
4
This tax bill is absolutely outrageous, even before the elimination of the ACA insurance mandate. People will now have the "freedom" to "choose" not to purchase health insurance, a basic necessity given the cost of medical care. The ACA mandate should be very strictly enforced, not eliminated. This will raise the cost of health care for those who who do not qualify and are purchasing health care on the exchanges. By 2027 people who earn less than $75,000 will be confronted with large tax increases because the individual tax cuts will expire, but the corporate tax cuts will remain in force. The Republicans could not care less about anyone who is not a multimillionaire. One can only hope that some of the upper-middle income Trump supporters will realize in time that this tax bill is not in their best interests.
7
Why is okay to discriminate against human persons to benefit corporations with much more reduced tax rates? Living humans and corporations should get the exact same tax reductions. Why should so many foreign shareholders get the benefit of reduced American taxes? Also, Congress needs to find a way to draft corporations into the military so that corporations, with their foreign shareholders, actually share the exact same burden to physicially defend American interests.
6
Why does everyone call this bill an "over haul"? Of course it was meant to be an overhaul in be beginning. But this "over haul" is a monstrosity; think Mercedes Benz with the motor removed and replaced by slave teams pulling and pushing it. It will only be amusing to the rich for a matter of moments. And then what? And most disturbing, is the idea that the republicans think they will get away with it. Are they thinking that they are awesome beyond retribution? Or are maybe plan to reignite the confederacy? What ever it is, it won't smell any better than this bill.
1
Now we have to listen to little donny t drone on about this amazing tax bill that helps the middle class (a lie).
I hope the Senate has the decency to do what is right for the middle class, rather than their donors. What a bunch of sad sacks......
5
Obviously those who voted for this could not care less about rural hospitals and healthcare providers. The ACA has helped their reimbursement. Now they will suffer.
When those that voted these legislators in find themselves having to go to cities because their rural hospitals and healthcare facilities are closed don't complain!
8
Republicans hate people but love corporations, which according to them are people of a select and special variety. Look if they wanted to lower the taxes on corporations, they could have done so, paying for it by raising taxes on shareholders, most of whom are rich. But no, tax poor people instead.
6
I guess the lessons that Kansas and Louisana learned, namely that corporate tax breaks at the expense of the general public do not result in prosperity are lost or simply ignored by Congressional republicans. Both those states ended up repealing their generous corporate tax breaks, but not soon enough to prevent the suffering they caused. Maybe in four or eight years Americans will realize they were hoodwinked. But it will be too late for all the suffering this ludicrous plan will have wrought.
5
I'm a graduate student at the University of California Riverside. I live on a very limited income, yet have been told that this House tax bill, which was just passed, would increase my tax burden by $1,000 or more. Shame on the GOP for passing a bill that would take from the poor and give to the rich. At this point the GOP doesn't care what they vote on, so long as it passes before 2018. My antipathy towards Republicans just increased tremendously.
5
I was in your exact spot ~20 years ago. My scholarship was not taxed + my TA stipend was meager enough not to increase my household's tax burden. I am so sorry that because of an accident of birth my education was underwritten -- and I have worked in public service since then -- while you are being cruelly punished. I do hope this bill causes a boomerang to the head the GOP doesn't see coming.
We elect men and women to congress to represent us on matters like tax legislation, but most of them seem to ignore that what would be to our advantage is not the same as what is to their personal advantage. Unlike most of them, who have more money than most of us will ever have, despite whatever they say we will not benefit from tax cuts for the wealthy. We need equable taxation and this isn't it.
5
I am utterly sickened by Ryan, McConnell and DJT and his cronies. You clearly are not working on behalf of the US citizens. Who are you working for??? We think of coups as a political tool used in other non-democratic countries. Well, welcome to the US, formerly known as a democracy. This is an oligarchic take-over of our country. Not my Congress and Not my President!
4
More smoke and mirrors from the Republican party. Sneaking bills through in the dark of night; attaching the ACA mandate that will put millions of Americans out of health insurance, and thereby increasing the costs to the rest of us; doling out tax breaks to corporations and the 1%; calling it fake news when they're called out, and disparaging news organizations who are trying to tell it like it is. This administration hasn't done an honest thing since election day. They are literally destroying our country for their own profit and job security. See you at the election booth in 2018 and 2020. We really need to take our country back.
7
They have a LOT of overhauling to do to make this acceptable to the American public. SALT deductions, single home owner mortgage deductions, child deductions are ALL very important to middle class and those striving to be part of it. Take the attack on the ACA out of this bill, keep their dirty fingers out of Medicare at a time when there will be more seniors than ever many of whom had their retirement benefits stripped from them when it was too late for them to remedy the situation. The whole idea of this tax scam assault for the benefit of extremely wealthy corporations and individuals at the EXPENSE of the middle classes and small business owners is completely wrong. The fact that they are peddling it as tax relief for ordinary Americans would be laughable if it weren't so tragic and destructive and an out and out lie.
20
Here comes the Republican 2-step song and dance--again:
Step 1: Greatly reduce the taxes big corporations and the 1% pay, which, of course, raises the deficit that the GOP complains about 24-7 when the Democrats are in power.
Pause.
Step 2: Then scream the deficit is too high, and ram through a slew of bills that cut/gut social programs--the Senate already started with "saving money" by trying to eviscerate the individual mandate and the ACA. The bloated defense budget is off the table for trimming excesses and its budget will be soon increased. If it is guns or butter, we know which one the Republicans always choose.
If the 2-step GOP song and dance is successful, the Republicans will win the Koch brothers' prize by putting an end to Social Security, Medicare, and Medicaid, which are not really "entitlement" programs as the GOP claims, but programs we workers all paid into during our working lives.
We have seen this GOP song and dance before during the Reagan and GW Bush years, and each time it ended badly for everybody but the superrich.
Fool us once, twice, how many times??? Shame on us!!
33
Here comes the Republican 2-step song and dance--again:
Step 1: Greatly reduce the taxes big corporations and the 1% pay, which, of course, raises the deficit that the GOP complains about 24-7 when the Democrats are in power.
Pause.
Step 2: Then scream the deficit is too high, and ram through a slew of bills that cut/gut social programs--the Senate already started with "saving money" by trying to eviscerate the individual mandate and the ACA. The bloated defense budget is off the table for trimming excesses and its budget will be soon increased. If it is guns or butter, we know which one the Republicans always choose.
If the 2-step GOP song and dance is successful, the Republicans will win the Koch brothers' prize by putting an end to Social Security, Medicare, and Medicaid, which are not really "entitlement" programs as the GOP claims, but programs we workers all paid into during our working lives.
Then we Americans can dance to Shuffle Off to Buffalo because Buffalo is what many of our communities will look like, since there will be "no money" left after this tax gut to fix the infrastructure or do anything else for the people and communities of this country.
We have seen this GOP song and dance before during the Reagan and GW Bush years, and each time it ended badly for everybody but the superrich.
Fool us once, twice, how many times??? Shame on us!!
2
I have heard from NBC that Trump is set to have a $1B tax cut under this bill. He is the most incompetent President that has ever served. And add to that the alleged Russian obtrusion charges, why would we give him that much of a raise? We should instead be developing an improvement plan, holding all bonuses, and starting impeachment. This is unconscionable that low income people will in later years end up with tax increases and an abomination of a President can take a $1M bonus to the bank.
20
This is taxation without representation. We've come full circle.
42
None of this will improve anything without a mandate for a balanced budget!! NOT ONCE have I heard ANY politician address the balanced budget issue throughout the whole process. Politicians have lost the last of their morality, ethics, dignity, and respect for the public welfare. The people are no longer represented; and the corporations owned by the uber-wealthy have taken the controls.
13
It would be interesting to list how much money the people who voted for this will gain from the tax cut. And of course their donors too. I guess with all these handouts they will be like the proverbial abuser who goes to get her social benefits in a Cadillac.
6
I hope the republicans are proud of the mess they are conferring onto the middle-class and below. Yes, they have taken us to a new dark era where money and power reign. Toss in the toxic smear of racism and religious wonkery, and I can just hear those cotton-pickin poor people singin da blues.
Now we start by identifying the real winners of this stinking mess, and find a way to put them out of business...
12
Robin Hood...in reverse.
13
This Republican tax bill is the cruelest I can remember. Let's hope cooler heads will prevail and stop this outrageous bill.
8
I never thought I'd live in a country with a hereditary aristocracy with massive and growing income inequality, but this is what the United States becomes if the Republican tax bills become law. As well as being inconsistent with Equality of Opportunity for all Americans, it insults the working class and middle class Americans that voted for President Trump by giving the overwhelming majority of tax reductions to corporations and the top 1% (or in the case of the estate tax, top 0.2%) of the highest income/wealthiest among us.
12
The Trump/Ryan/McConnell triumvirate will surely have our economy spinning out of control and perhaps returning us to 2008 during the Bush years catastrophe. Perhaps the two/six-faced monsters will succeed at enacting a law that they said was one of the cornerstones of Trump's candidacy and the GOP platform; but remember that less than a majority of voters came along for the ride, and of those, many of whom were Hillary-haters, will be eaten alive. There is nothing in the economics of this action that's rational. But there is a huge potential of "win" for the elite, the rich and the corporations as well as Trump and family. Once the electorate finds out they've been bamboozled, hopefully before the 2018 elections, a new majority of like-minded legislators (and maybe a President, too) will get some common sense and stop or reverse this frivolity. That it's the barest of margins that will ultimately pass this legislation is so troubling. But hopefully the press will fight through the distractions and off-putting and let the truth come out and prevail.
4
Because people will no longer have to purchase health insurance, they may no longer receive tax credit subsidies for insurance....Without those credits, they see an overall uptick in their tax liability,” Mr. Hatch said."
That's correct America, lose your health insurance and pay HIGHER taxes to make America great again?
19
It's all good because not having health insurance means they're "free." And the rest of us will be too poor to bail them out.
The corporate tax should be dropped to zero. Increase the taxes on individual incomes with top tax bracket at 90%. Treat all types of income as wages. Eliminate all deductions.
2
TEMPORARY CUTS for some, not all, lower and middle income PEOPLE.
A larger standard deduction sounds good until you realize that HIDDEN in
the smoke and mirrors is ELIMINATION of personal exemptions.
PERMANENT CUTS for BUSINESSES so they can funnel more of their profits to shareholders and owners.
ELIMINATION of the Estate Tax which applies only to MULTI-MILLIONAIRES.
HUGE increase in the deficit will be the responsibility of our children
and will be used down the road to justify cuts to Social Security
(which my employers and I have paid into for the past 55 years).
9
The GOP has put itself in a no-win situation. If they pass a bill like this, Democrats will have plenty to work with and the GOP will pay a huge price in the 2018 elections. If they don't pass a bill this year, they will be revealed for their incompetence and poor leadership, their donors will be reluctant to participate further and they will pay a huge price in the 2018 elections.
3
Works for me.
3
Almost every Rep who voted for this poorly constructed bill will be sorry next November.
5
Does anyone in Congress know the health of our country? Our highways and bridges are crumbling, the power grid is on the life support, the air traffic system is from the '70s, water main breaks, gas line breaks, and sinkholes occurring. Why not to use this $1.5 trillion to fix these every day issues.
During our next crisis, name them after our today's leaders. For example, a bridge collapse, call it a Trump Collapse; water main break, a Ryan break, etc.
12
Modern Hoovervilles. I️ like it.
"Senator Orrin Hatch of Utah, the Republican chairman of the Finance Committee, said that the appearance of a tax increase was a mirage that is the result of arcane rules used to assess the budget impact. Because people will no longer have to purchase health insurance, they may no longer receive tax credit subsidies for insurance that they do not purchase."
People will no longer have to purchase health insurance? Some will no longer HAVE health insurance, but they'll still NEED health insurance. How is this going to be a good thing for anyone?
12
Maybe Trump voters who've been trained to loathe the mandate will all be "free" not to carry health insurance. Many of them rationalize letting their policies lapse by saying they're in good health. They don't understand the concept of "insurance" for unforeseen expenses. They'll turn to their friends and family via GoFundMe. I, for one, will not be contributing.
The federal tax code is certainly a mess as it is now except for what the Republicans want to replace it with. Eliminating state and local income, property and sales tax deductions would be a rude awakening for wage earners in high-tax states. Doing away with the mortgage interest deduction also severely affects those wanting to participate in the American dream of home-ownership. These self-styled tax reformers have designed any middle-class tax breaks to expire in eight years while preserving those for corporations. The backdoor repeal of Obamacare's individual mandate included in the Senate's version of this bill will leave 13 million Americans uninsured. This new tax plan is a boon for big companies and the one percenters but a bust for everyone else. The GOP is claiming tax reform when in fact they are really giving an unneeded bonus to the wealthy while taxing the patience of the rest of us.
7
Another ram jam job by the House Republicans. Not one day of hearings were held. They will vote for a bad bill before they will listen to anyone who just might offer them some wisdom. My congressman, Tom MacArthur (3rd- NJ) doesn't even give out his email address so that his constituents can forward information to him. Republicans' minds are made up and their marching orders are in hand. Action for action's sake.
6
Hopefully this thing will die in the senate like every other slimy piece of legislation that has emerged out of the Trump Swamp so far. But if it does make it through the senate, it will not only hurt the so-hated "coastal liberals", it will also inflict tremendous damage on the poor southern and mid-western communities that so enthusiastically voted for Trump.
Soon the poor Trumpists will find that they can't deduct medical expenses, or college tuition, or student loans, and that their taxes will go up quite a lot. They will also find out that their health insurance will become unaffordable once healthy people drop out following the mandate repeal.
Maybe then people will wake up and vote the gang of corporate lobbyists that passes for Congress out of office in 2018.
7
Having read numerous arguments that point to a Republican talking point regarding 70% of tax payers that do not itemize deductions as a basis of support for this tax plan disgusts me. Prior to having children, owning a home, and therefore having "items" to deduct, I too did not itemize deductions. However it is this 30% of people that are currently in the midst of the American dream (how many of those 70% have yet to have children and buy homes, or are empty nesters, or live in states with low cost of living) Losing the personal exemption, which appears to have gone under the radar compared to the uproar over SALT, will single-handedly add $4000 to any family of 4 that itemizes deductions. $24,000 in a standard deduction might cut it in a low tax/ low cost red state, but not in an expensive area for a middle class family. My family is looking at a multi thousand dollar tax hike, and we are paycheck to paycheck as is. Have to wonder how the 1% can even look at themselves in the mirror, but then again they have been doing it for years. Trickle down is a joke - if Trump was so altruistic he would have been helping his fellow citizens years ago instead of looking out for himself. Anyone who thinks he has changed after becoming President is sorely mistaken. Its "Dog Eat Dog and Rat Eat Rat" and that's the only truth they know.
7
Until today I didn't think the Democrats would be able to win back the House in 2018. Now I think it is likely.
9
A pence for the serfs, a pound for the rulers. A 7% raise in after tax personal income for the top 1%, barely more than a 1% rise in after tax personal income for the middle class. So who benefits from the tax bill? Not the serfs.
16
What has this House ever passed that was good for most Americans? If the Tea Partiers are on board then you know it's a terrible idea.
This insane "tax and jobs bill" needs to be put up for vote by American voters in 2018, because we already know this House can't do the right thing, ever. I hope Dems and moderate republicans do whatever they have to do to stalk it until then.
6
WARNING from a Kansan in suburb: This tax cut bill is a mirror of the failed Brownback experiment (actually Koch's) only on a massive level:
In 2012, Brownback relied on the economist that created the trickle down notion of Reagen's.
Brownback even called it a "tax experiment": In 2012, he cut business income taxes to $0 saying it would grow jobs. Instead Kansas lost jobs from 2012 on b/c businesses need educated people and a stable environment:
Destruction of schools: Ks. Supreme Court ruled this year that school funding did not meet constitutional requirement of a "suitable" education and it would close schools in 2018 if funding not increased by $600 million.
Destruction of state infrastructure: Brownback took more money from roads funding, "borrowed" $1 billion from employee's retirement system and spent all of the state's reserves, cut the state budget to the bone and more . Despite all evidence, Brownback said his plan was working.
When Kansans in suburbs saw class sizes being dramatically increased, no new books in libraries. they woke up in 2015 and voted out the Koch sponsored far right R's out and voted for Democrats and moderate Republicans.
Taxes on business reinstated and Brownback left KS.
If this bill is passed, Koch's win b/c they don't want any government. They get a $32 billion tax cut annually.
This is the danger when voters trust the system: Move-on. Org. responsible for states' wins 2 wks ago - join NOW. Thank God for WAPO & NYT!
20
According to these narcissists, God rules through them by His miraculous distribution of $. So it goes since the US took the name of God to inoculate itself against socialism.
2
Wonderful! And the manate is about to be gone. ACA taking a death spiral soon enough,,two birds with one stone.
3
Why saunter in the race to the bottom when we can sprint, right?
Lawmakers also want to push the legislation through quickly to avoid giving lobbyists and Democrats time to mobilize.
Let's get movin', folks!
10
What do these smiling jackasses intend to do about the $1.4 TRILLION in debt they're creating?
Oh, that's right, it's somebody else's problem. They're completing their screwing of America. It's not their job to worry about who will do the unscrewing.
All you math-challenged Trumpist lackeys keep sticking up for that perp Ryan and Clown Trump. You're going to have to pay your taxes, and when you do you'll get that sick feeling in the pit of your stomach that says you've been screwed. I'll be listening for the wailing and gnashing of teeth. And your conservative God will not help you.
14
1. Ryan's smug grin looks as though he hit the PowerBall lotto.
2. This is just one more of Don the Con''s scams, and as we all know there have been plenty.
Lowering the corporate tax rate will NOT move companies to invest in additional plant and equipment to create jobs or increase wages for the WORKERS. This was clearly evidenced yesterday at a Wall st sponsored function when several hundred CEO were asked how many would - by a show of hands- increase capital expenditures as a result of tax cuts? ONLY 5 raised their hands! Gary's embarrassed response? "why aren't the other hands up...?"
B/C it ain't gonna happen, Gary. These CEO, and their buddies are gonna take the increased cash and put it in their pockets. DUH!
Trickle down, voodoo economics, tripled the national debt. Tax overhaul ? My tuchas!
22
Y'know, the Republican right always cloaks itself in a mantle of Christianity, but they have apparently never read the Gospel of Luke, 6:24, which reads, "But woe unto you that are rich! for ye have received your consolation."
Or maybe they are, instead, simply intending to increase that "consolation" by passing this absurd "make the rich richer" tax bill. Students? Shafted. Teachers? Shafted. Folks paying off student loans? Shafted. Folks facing large medical bills? Shafted. The affluent? Consoled, big-time — one might even say biblically.
This is sad. Christianity has been morphed from Jesus' teaching to care for the poor into the Republican gospel that God rewards those who are righteous and punishes those who are not — and those rewards and punishments are not only to be gained after death, but here on Earth.
14
If it sounds magical, it probably is a scam.
1
Republicans, televangelists and other "ministers" who preach the prosperity gospel miss the point of caring for the poor, feeding the hungry, visiting the lonely and clothing the naked. In many ways the teachings of Jesus and the practices of capitalism are incompatible. Our government encourages welfare for the rich while advancing rhetoric of helping the middle class. Hypocrisy might always have been a part of governing, but the hypocrisy of the present government seems to be particularly virulent.
Democrats, you won't like this, but you begged for this tax gutting of the middle class when you began dismissing and labeling angry white men.
Still you got 40% of them, even spitting in their eye.
Just imagine if you had asked a few token deplorables for their vote and left off the insults? Just to be on the safe side.
This nightmare would be gone in the morning.
As an Independent white man I hated to see Dems cutting their own throats, yet I see no sign of interest in the angry white male, just pitiful excuses on why Hill lost, none of which will turn a single vote in 2020.
I sincerely hope Dems get the clue because, yes, it could get worse.
4
Please (sarcasm). It is illogical to blame the democrats for this. At fault are the people who voted for this nightmare. If you are in the top 1%, congratulations you will hit the jackpot. But if you are in the middle class, prepare to pay more so billionaires can get their tax cuts.
7
Dismissing angry white men? Is that what you think was going on? Did you not see what happened in Charlottesville? You've been had.
This has been a putsch by organized industry to create division in order to quash democracy and build an imperialistic republic. Calling people angry or white or wrong had little to do with the machine in place.
This is multiple wars we are spreading in order to sell arms. This is letting monopolies have it both ways. This is allowing Saudi Arabia to take over the reconstruction of our interstates by giving Blackstone 20 Billion dollars to do it. We have no representation to balance Citizens United. They now own the courts. They now own their tax code designs.
We put money in, but we get nothing in return. No pensions. No health. No decent public schools because we are paying for the right of republicans to privatize and profit from aggression.
The putsch to curb democracy has succeeded, white or angry, it doesn't matter, we are defenseless now.
7
Another fine mess the Republicans made!
7
What happened to the Tea Party’s condemnation of adding one cent to the deficit? I guess if a Black Democratic president were still in office the FreedomWorks-funded “grassroots” movement might still adhere to its purported goal. But with a GOP POTUS in office, there’s no need to keep pretending. It’s a feeding frenzy for the already wealthy whose main source of wealth cane from government-supported contracts and policies.
7
We live in time of inverted morality. Lies become truth, news becomes fake, and corporate welfare becomes the priority of the dominant party
18
Yes Orwellian to be sure.Unfortunately the masses are too over worked
and under paid to know what the effect is or what is being done in their name .
I see serious unrest in our future .
Just a lot of old stale billionaire rhetoric here. When 48% of the population does not participate in the Income tax there is very little outrage to be mustered. When the Republican do something that cannot be framed as hurting poor black and brown folks the Democrats have no argument at all.
2
The republican party continues its all out assault on the citizens of this country, and as lead by the dictator-in chief Trump. The sooner everyone wakes up to the fact that we are IN A WAR RIGHT NOW and that our enemy is the GOP the better off we may be.
10
Speak for yourself, buckaroo. I'm marching with the GOP.
1
Call back a year from now .We would love to hear your happy
dance .
1
In the photo accompanying this article, I've never seen Alter Boy Ryan so happy, ecstatic even with his celebratory "thumbs up". No doubt, his next grand vision is the calibrated legislative dismantling of Social Security, Medicare, and Medicaid on his watch. One thing you can count on is that he'll be one of the first lining up at this Sunday's Mass to receive the Eucharist, with great piety and earnestness.
Where on earth do these beyond reprehensible, shameless hypocrites come from? Why do they harbor such deep-seated animosity for the middle class and unfortunate of this country? The Diagnostic Statistical Manual of mental pathologies requires a new entry: "Republican Plutocratic Rejection of All Others Disorder". Amen.
15
Time to get out the old sayings
Soak the Rich
Sharpen the pitchforks
Have no mercy when the tables are turned.
3
What I don't understand is why so many Republican voters don't understand what they are doing when they vote for these people. Anyone reading the GOP "tax reform" bill can clearly see that they are NOT in Congress to represent the 99% of their constituents, much less the 30-35% of the whole district population that is enough to win the gerrymandered elections. Trump gets a huge payback for his little 'run for president' con, a few hundred Billion if the Senate lets this odious mess of a wealthy handout package go through. It seems the Republican voters never catch on - there will be dog whistles and red-flag wedge issues, a "liberals are going to take your guns, and make you marry your brother" scare job, and meanwhile the Republican legislators they elect are vacuuming the ordinary American's pockets empty, and expressing all the money to the very very wealthy. Trump thanks you, Charles and David Koch thank you, the Mercers thank you. They don't need the money, not by any stretch, but they'll keep it. All you "little people" just keep waiting for that trickle-down. Real soon now, you'll get that big payoff - just like anyone else falling for the Big Con.
6
There it is again..,Liberal assuming Republican voters are too stupid to understand what they're doing. This is why the Democrats took a nose dive in nearly every State between New York and California. And it looks like liberals still haven't learned to control their condescending insults. Keep up the good work. See ya at the polls.
1
You are free to continue spite-voting and ignoring the Dems sweeping our most recent elections, along with your class-traitor rhetoric.
Trump fans (and unfortunately the rest of us) will reap what they have sown.
There will be no jobs, much less bigger paychecks as Ryan claims. The so-caled 'sharing-economy' is a sham, and the bulk of manufacturing jobs have gone away, never to be seen again. What the fans get for their nationalism, hatred of the other, and bigotry is an American oligarchy as ugly as any the world has ever seen.
4
For the Rich, by the Rich, you know how that goes...all I have to say is-HUH?
1
Amusing the read the NY "Trump has a 9% chance" Times. Eliminating a tax means tax credits will go away! Taxes might go up in 10 years after they go way down!
Dems don't care a whit about lowering taxes. Dems prefer gov to spend your hard earned money. Dems don't believe in high personal freedom and high personal responsibility. Luckily millions of Americans do. Hence, GOP runs 2/3 of America. Enjoy.
2
And here we have it.
Right wing propaganda going down like honey in real time, where subsidizing the wealthy at the expense of the middle class and poor is NOT spending "your hard earned money"; where taker red states and their insatiable need to overturn the 14th Amendment smugly lecture the rest of us "high personal freedom and high personal responsibility"; where geography, and not population concentration, is a measure of who runs America.
And that's why we are where we are today.
Gotta hand it to you, Republican elite. You know exactly who to exploit and how to do it.
3
Dems for some reason are able to grasp that pooling our funds is the only thing that makes sense when it comes to certain kinds of problems. Republicans that view cutting taxes as the highest good will use but not experience gratitude for things like our shared internet, highways, research. . . instead they all pretend they are fully self-sufficient. What they are is greedy and selfish, and I'll probably never understand by anyone votes for them.
It is painfully obvious that Republicans simply do not care what happens to the deficit. This cut will win them some votes next year from people who only see the extra dollars in their paycheck. The damage done today will not be seen until after April 15, 2019. By then, we will have the 2018 midterms with more Republicans winning because of these cuts. God knows where we will be if the Democrats do not take back congress.
In any case, Senator Johnson.. Hang in there and kill this thing if it adds a penny to the deficit.
3
Is this a victory or a coup? Why refer to it as a victory when the American middle class and elderly lose out? A victory for the 1% and for politicians that put party before principle and manipulate the system in order to do so..
5
I truly don't know what to say. I am furious! Trickle down economics never worked under Reagan and won't work now. We no longer have a strong industrial base and we're losing the rest of the economy and industry bit by bit everyday.
MIddle class America is basically destroyed. Totally dissolved. The lower class has been driven into total exhaustion both economically, and socially. The social safety net is no longer existent. Medicare will be cut back. Social Security cost of living increases are eaten away by increasing costs in medicare charges for premiums and less benefits paid. Education for the middle and lower classes has been placed out of reach and the Republicans want to take away tax benefits for stipends, and other student financial aid. Republicans want to tax everything in sight that benefits the middle or lower classes while giving more breaks to the wealthy.
Scrooge McDuck would love this tax bill. He could build another money bin.
Its time for a tax revolt in America! I'm an older baby boomer now (just turned 70) but I will gladly march in Washington to protest this Frankenstein monster tax bill. I'm calling and writing my representatives in Congress. I know they won't listen to me but they will listen to millions of us. And I'm going to help organize them.
Republicans in Congress are in my view one fry short of Happy Meal. This is madness! Let's all get together and put an end to these morally and ethically bankrupt politicians. Let's end this.
14
The Reagan tax cut and the economic boom that followed is what gave Reagan the biggest Electoral College landslide in US history -- every state except Massachusetts and the District of Columbia.
Perhaps the most troubling thing in this terrible tax bill is the policy decision to penalize those who seek higher education. This reflects the GOP's disdain of those with knowledge, their repudiation of the notion of expertise, and their politicization of that aspect of American life that has proven to be the stepping stone to a better life. By imposing added financial burdens on students, they are seeking to remove the last vestiges of what they consider to be "liberal" criticism and politically inconvenient activity that requires observable truth and facts be acquired and consulted before enacting ideologically inspired policy initiatives that work to the detriment of most of our society. Shameful.
6
If history serves me right, I believe taxation without representation led to our Revolutionary war.
5
We need to organize and refuse to pay our taxes!
STOP using the terms "overhaul," "reform," or even "plan" for this utter travesty!
It's a huge windfall giveaway for the rich and big corporations! That's the idea; that's the intent; and that's what is is!
How about a little plain-speaking truth?
6
It is about time we citizens were relieved of subsidizing the over priced housing industry. My neighborhood had 100 unsold lots and lots of half built vinyl boxes in 2008 when the "crisis" happened that sank Walkoverya -First Onion Bank et.al. Stockholders lost tons of money from the fallout of the crooks in charge of the bank.
Savers have been taxed Billions of dollars in the form of low/no interest rates paid by banks (how about 0.01 % from WF and BBT).
Hooray to Congress! Fie to the homebuilder lobbyists! Buy a cave!
Just wait until homeowners and real estate investors discover they are taking the interest exemption away. That is sometime the only write off most people have. Good luck ya'll.
3
If possible, worse than the tax bill is that the Senate will cut approximately $450 billion over the next 10 years hundreds of billions of dollars from Medicare, the federal health program that covers elderly Americans.
This tax bill is a precursor for Republicans to come back in three years to announce that there is no money left for Social Security and Medicare...sorry the deficit is just too large.
But corporations and big GOP donors are safe as their children go to college and they reap the last few rewards of the American economy.
If you have any interest in saving this country you must get out and make sure this tax bill never ever becomes law. Never.
5
Here in Ocean County NJ, Rep. Tom MacArthur (3rd district) voted to raise taxes on the middle class to further enrich the obscenely rich. A real deficit hawk. Remember him when re-election time rolls around next year.
8
They call it tax reform.
Far away from the beltway, in middle class homes across America, it's called what it really is.
A tax hike.
6
MIDDLE CLASS, you are going to get a TAX INCREASE. In the tax bill that just passed Congress today, and also in the proposed Senate bill, you lose the write off of $4,050 per person on your tax returns. Family of four, that's more than a $20,000 write off on your income that you will no longer be able to take. It disappears. The increase in the standard deduction they are proposing and the child tax credit will NOT make up for this lose of the individual tax exemption of $4,050 for EACH family member.
Bravo to all the NYS Democratic congress members and to the five NYS Republican congress members who voted NO today to Congress's tax bill. You are doing your job, representing New Yorkers and all middle classs families.
The four NYS Republican congress members who voted YES on this "tax cut" bill for the wealthy, at the expense of middle class and all New Yorkers, should be VOTED OUT OF OFFICE. They are: Cladia Tenny, District 22, around Utica, NY; Tom Reed, District 23, around Corning, NY; John Katko, District 24, around Syracuse, NY; and Chris Collins, District 27, between Buffalo and Rochester, NY.
All four of these districts are suffering financially already. This "tax cut" for the rich that these four NYS congressional members voted in favor of today will do harm to their constituents and to all New Yorkers.
6
" . . . a congressional analysis found that their revised tax bill would actually raise taxes on lower-income Americans within a few years."
I'm sure Bob from Accountemps could have come up with the same conclusion. This rewrite will be as devastating, if not more so, than Ronald Reagan's handy work in the '80s. America is still struggling from that devastating legislation. I shudder to think what the results will show should this bill pass. The GOP is calling this a rewrite of the tax code, but in actuality, it's legislation which will cost the middle and lower classes more out of their meager paycheck.
4
It is alright for these Staes to reduce their Taxes by reducing their Federal taxes, which means their State gets more income and people from other States make up the federal difference. NO State policies should have nothing to do with the federal taxes. Everyone pays the same for their income/ same deductions.
1
Okay. As long as every state gets from the Federal government exactly what it contributes. That's means no more propping up failed states like Mississippi, Alabama and South Carolina. Deal?
2
"The updated analysis stems from the Senate’s last-minute inclusion of a provision that would repeal the Affordable Care Act’s requirement that most people buy health insurance. The repeal would lead many lower-income Americans to choose not to buy insurance, and thus not claim tax subsidies that currently help them defray the costs of health coverage."
Only in the NYT would this be considered a tax increase.
1
Senator Hatch says " . . . people will no longer have to purchase health insurance . . ."
What happens to those without health insurance who end up at a hospital emergency room? Because of "bad choices" or because they are in a car accident caused by someone else, say? Federal law says the hospital must treat them. Who pays? We all pay. Why should my taxes subsidize their decision to not carry insurance?
3
Hey, man, don't harsh on your countrypersons' "freedom" to be utterly irresponsible and dependent. It's the American way to reject anything that smacks of pulling together for the common good, and to also swiftly demand handouts when their failure to plan results in emergencies.
Is this a victory or a coup when Republicans manipulate the system so there is no floor discussion or input from the public. It is a victory for the 1%. The headline should read "House Passes Tax Bill in Major Step Toward VANQUISHING the Elderly and Middle Class."
5
At least we won't have to listen to Republicans pretending to care when the death rate goes up due to frank despair. They won't bother.
There are more than enough House Republicans in NY , NJ & CA , that if they are removed from Congress in 2018 , the Dems will be back in control. This must happen. As to the Senate , work your butts of Dems starting with getting an Alabama Dem senator next month.
Your nation depends on it. The barbarians are inside the gates.
6
Besides being desperate to pass a major piece of legislation before year's end, far too many Republicans place an ideology which simply does not bear out in facts and evidence ahead of same. The principal example is Speaker Ryan.
19
This isn't about just tax and money. By giving more to cooperations and the wealthy, Republicans are taking away democratic power from the people and giving the government to cooperations. Why aren't Democrats talking about that? As there's separation between church and government, there should be separation between businesses and government.
23
I'm a graduate student whose career will probably be over before it starts due to this bill. Years of hard work that adds up to nothing. I can't even.
42
They tell you to pursue a STEM career, and it turns to be as fragile as a chemical balance.
2
They may as well call it the Anti-Young People Tax Cut
2
I suggest people listen to Senator Elizabeth Warren regarding this tax bill, and then tell how anyone who is the Middle Class or who voted for Trump, thinks this tax bill is good for them or for the country.
Elizabeth Warren has distilled what is wrong with the Trump Administration and it is why he likes to call her names, she has his number and I hope she runs for President.
51
It's all too little and too late now, because they're locking in their lunacy in the federal judiciary.
3
The Republicans will do what they did to Hillary as a result of sexism. The reason the right wing attack the Clinton's so relentlessly and ferociously is that they are always the smartest people in the room, stood for people, knew how to work with Congress and are eloquent in their message. Read David Brock's "Killing the Messenger Right Wing Plot to Hijack Your Government" They were the centrist 2000's version of the Kennedy's.
Hillary was brilliant as Secretary of State in seeing global trends and how to make deals for American trade and create jobs in America. She and Obama put U.S. in lead on TPP with Asia countries, excluded China. China would want in on the action and plan was in exchange for being part of TPP, China would have to stop their currency manipulation, stop stealing Armerican's intellectual property and agree to labor protection. Trump tore up the TPP.
1
It is too bad the "middle" of both parties, or what's left of it on the Republican side, can't come together to make a good bill instead of this fiasco. Compromise would make it less thrilling for businesses but also less deficit producing. We need to immortalize a phrase from this such as "no new taxes" and "you can keep your healthcare" so that it can come back and haunt the people who voted for this mess. Actually, both of these will become lies along with a "tax cut for the poor and middle class" after the five year period.
5
Tax cuts: the question is, where will people spend the money: depending on what has been deducted, will they invest that money in education, savings, or start new businesses. The rationale behind this question, is that a tax cut is a grant by the government. A general rule of thumb is that any investment must pay off. Must make clear to the people how it will benefit them in the future, and to the government how their revenue will increase.
1
Only in the mind of an extreme leftist is a tax cut a grant from the government. Regardless of who gets the cut, it simply allows people to keep more of what is theirs. Should the distribution be different? Perhaps. But under no circumstances does anyone's income or wealth belong to the government.
The house is not operating in "regular order". If it was in regular order discussions would happen for days and larger majorities would be needed to pass a bill. Your excellent point was not allowed. I've been riding my Congresswoman about this for weeks and you should too.
2
It's cool if you don't want to pay your fair share, but you can you be consistent and refrain from using the services other folks' taxes cover? You can start by logging off. You did not pay for the internet all by yourself.
The next step will be the need to reform (cut) entitlements such as Medicare and Social Security to pay for the deficit created by tax reform.
15
In my hometown, the starting salary for a city firefighter is $31,000, with the potential (after many years of service) to earn a maximum of $48,000.
This means that someone responsible for saving my life and property will experience a tax HIKE under the GOP plan just so that the wealthy, most of whom produce nothing and add little to society, can receive a substantial tax cut.
Remember this in November 2018.
59
If they don't like $31,000-48,000 we can resume the draft and they can do the job for $25/ month.
Is that with OT? In most places in CT and MA, firefighters work two 24 hour shifts per week, so you can actually arrange to have 9-10 days off in a row without taking a vacation day). Granted, the 24 hours on can good or awful depending on luck. Most have side contracting businesses for the other 5 days that they are not in the firehouse, with great health coverage and pension from the high town and city property taxes. Also, don't forget that most also game the pension in a system whereby the next retiring person gets all the OT to set their calculated pension at an unrealistically high level. I have talked with two firemen who "restarted" their retirement year because one month of OT did not work out, so they really are aiming to max the pension calculation. Public servants have the game figured out.
That may be true of cops, firefighters, and certain railroad personnel but it is NOT true of teachers.
What are Republicans thinking -- proposing a $1.5 trillion tax cut mainly for individuals and corporations that have no need for it -- at a time when the federal government as a $20 trillion national debt growing by more than $500 billion a year? The generational injustice of saddling younger generations with liabilities of that magnitude is staggering.
Even by Laffer's supply-side reasoning, cutting tax rates from present levels well below the point where his curve bends backwards, will result in decreased revenues. The notion that such tax cuts will spur economic activity, let alone increased revenues, sufficient for the tax cut to "pay for itself," is contradicted by incontrovertible historical data from previous tax cuts.
The only outcome of the Republican tax cut scheme will be to increase the upward redistribution of wealth, ultimately producing another 2008-style financial panic and economic contraction.
6
The Republicans' principal motivation is to show they can actually pass something, anything, while they control Congress and the White House. This is even more important to Ryan and McConnell than keeping Trump's promises and Trump will sign anything Congress passes, saying he wanted it all along.
If they pass the House or Senate bill into law, it will be a Pyrrhic victory, because so many people will be hurt and offended by what the tax changes do. This is the time for legislators in both parties to stick up for healthcare, for students, for homeowners, for large families, for state taxpayers, for teachers, and for all the others who are victimized by the Republican proposals. Smaller cuts in the corporate tax rate, pass-through rate and estate tax could save the provisions families depend upon.
Courageous legislators of both parties should be assertive in demanding that the success in getting a law passed should be coupled with success in doing something that constituents will be happy with.
2
I am forced to accept their blatant lying about tax cuts. Using their figures I wil be paying three times more for health care through prescriptions and co-pays if I can get treatment at all on $743 a month. Symbicort and Ventolin, both meds for breathing, if that's important, the Republicans don't think it is, cost over $1100 a month for co-pays. So they claim I will have peace of mind because I will have an extra $1200 a year. Which month do I get all of my medicine and groceries? Also, my cancer treatment will be stopped. Nobody follows a treatment plan in the Emergency Room. "I will not go quietly into that good night." I am not dying at home or in a hospital, I head for the White Houe sidewalk.
20
Why are you buying brand-name inhalers? Generic albuterol and any generic inhaled steroid are much cheaper!
1
I'd like to point out how shortsighted the bill is regarding the rescission of tax credits for higher education that are investments in the country's future.
Student loan interest deduction gone. Lifetime Opportunity Credit gone.
Employer education assistance will be taxed as income.
Free tuition for those working at institutions will be treated as taxable income.
New and even lower tax brackets nor the fantasy economic growth will ever make for these and other hikes.
Just how many people will not be able to afford college? Or, how many families will cash in retirement accounts or take out new mortgages? Anybody?
And a big shoutout to my representative, Mike Rogers of Alabama. He seems to have forgotten that his 3rd District has three universities, Tuskegee, Jacksonville State, and Auburn. Way to stick to your constituents for some corporate welfare that will benefit the very few.
8
Chris,
Great points all. Perhaps this will lead other states to follow New York's example and make state colleges and universities tax free for moderate income families. This is the only true way forward on higher education.
2
THIS is why our Congress no longer works for any group except the rich. All this money in politics is just not working. Repeal Citizens United. Get money out of politics; our very democracy depends on it.
18
But here’s the problem: far too many poor and working class and middle class people vote, repeatedly, for republicans and undoubtedly voted for trump. Why? A combination of stupidity and bigotry. When will these people wake up? And the Democratic Party has, for all intents and purposes, died: thanks a lot schumer/ pelosi.
This is a massive tax cut (basically, welfare) for corporations and people who simply don’t need the money. Jobs will not be created - corporations have already received the proverbial carrot. And society as a whole will not benefit by this transfer of even more funds to the uber wealthy. I’m afraid we need a return to the tumultuous 60’s, there need to be mass demonstrations in the street against the oligarchy and plutocracy that the US has become.
3
I breaks my heart to see CEOs and board members all huddled over their gruel at the soup kitchen. There must be something as a society we can do for them.
8
"It breaks my heart to see CEOs and board members all huddled over their gruel at the soup kitchen. There must be something as a society we can do for them."
I suggest locking them all in a big, empty meat locker, with no food. When they get hungry they can feed on each other, instead of on us. Put the GOP in there, too. They are all buddies. GREAT buddies.
1
These congressmen voted against what the majority of their constituents stance on giving a huge tax break to the top 2% and raising their taxes and healthcare premiums. I say focus anger at the polls in 2018 and vote these folks out of office.Trickle down economics does not create jobs it just stalls the economy.
6
There is discussion over whether the #GOP #TaxPlan will benefit the poor, middle class and small businesses due to interpretations of it. Orrin Hatch says it's a mirage.
Why is there no doubt whatsoever that all large corporations and all the rich will benefit from it? This appears to be crystal clear to all.
3
One item that has not been mentioned is that the house bill eliminates the estate tax (aka death tax) paid by inheritors of estates of a few hundred super-rich families. But increases taxes paid by the inheritors (e.g., your children) of everyone else’s estate! (Hint: Step up basis)
3
Like many here, this just makes me livid! Republicans are doing this for one reason: getting bribes from campaign donors. That's it. Donors are what matter. No one else matters.
Then after the economy tanks, they'll 'have to' reduce more of the benefits for the middle class such as Medicare. Trickle down is a scam. Welfare for the rich will add trillions to the deficit. Corporations don't need tax breaks. Only about twelve people ever have to pay the inheritance tax. And - only when the middle class drives up demand will any company add jobs.
8
I'd wager we can count on consumer demand vanishing scarily close to nothing when life costs more under this ridiculous plan. I suppose the market for super yachts, $450 million paintings, expensive jewels, and numerous homes will keep perking along, but will we able to continue enriching those at the top of Johnson & Johnson, GM, Mayo Clinic, etc. when we no longer have the funds for even basic necessities? I am worried we are going to find out.
Which all these deductions, how is Mr Trump going to pay for his increased defence spending? Just wondering.
1
"It...switches the United States to an international tax system that is more in line with the rest of the world."
Where's the urgency to switch our health care system to be more in line with the rest of the developed world?
9
Our complex, yet poorly regulated tax system allow multinational companies and wealthy folks to hire their fortunes in offshore paradises, in an effort to skip paying taxes in their own countries. The obvious losers are taxpayers like you and me.
As they stash about $700 billion every year into tax heavens, the ultra-rich and the large corporations are dodging the tax-man in the countries where they do business and earn their money. The United State Government alone lost $111 billion in 2016 because of these schemes.
These maneuvers deprive governments of the resources needed to provide vital public services and infrastructure like transportation, health-care and education among others, which means either cutbacks, runaway deficit or increased taxation.
The current government says that corporate taxes are too high; well, they counted for one-third of our Federal expenditures in 1952 and a measly 10% in 2015. So don't tell me that there's a need to cut corporate taxes when what is required is some vigorous legislation banishing the use of tax-haven for multinationals and super wealthy individuals.
By just doing this, we get more than $1 trillion in extra tax revenue over 10 years. Before re-doing the entire plumbing, take care of the leaks!
5
I was initially going to state my disdain, like so many already have. Then I thought about it more pragmatically,,its simple, corporations and the 1% are getting prepared for the next market crash, the writing is in the wall.
Its clear that the GOP could care less about you or I, so try to get prepared for the crash. We are the ones that stimulate the economy while the 1% hords cash in off shore accounts. Hord as much cash as possible.
6
People, it is up to us not to vote for politicians who take big $ from corps and the wealthy-1% in this country. Democrats and Republicans have been doing this for over 30 years and their machines-the DNC and RNC are complicit in it all and forcing state and local politicians to kowtow if they want money. These politicians represent corps and the wealthy so they can hang onto their power.
Only we can change that dynamic and the corrupt system. Vote for political candidates who pledge not to take big money. There are several progressive organizations that are promoting candidates who are regular people and have pledged not to take any big $.
Brand New Congress, Justice Democrats and Democracy for America.
Ask every candidate if they will pledge not to take big corp or wealthy individual $. Bernie did it so they all are capable of doing it.
It is truly up to us to remove these people from power and find representatives who represent the majority of people. I am done with this feudal system of king and lords. We all need to be Robin Hoods.
3
Well... I noted that John Faso, who got a great deal of dark money to run in NY 19th, didn't vote for this tax plan. I guess the memory of his recent meetings with constituents; those massed peasants storming the castle with pitchforks and flaming torches, remained... vivid. I think that if the phones do ring offffff the hook, that this plan has a chance to be defeated.
2
How many of those 227 had signed the no tax increase pledge that was so popular among GOP lawmakers under Obama ... ?
Apparently they turned it into a "no tax increase for the 1% wealthiest Americans alone" pledge, now that they control DC.
So much for Bannon's "economic nationalism"...
4
"That makes me smart" bragged Trump about not paying taxes. What if we all "wised up"? Perhaps "trickle UP" is a plan we should adopt.
3
If this does pass, will insurance companies like Blue Cross Blue shield be allowed to sell catastrophic health care plans to individuals again?
Merry Christmas, ye GOP faithful! A tax increase if you're not a 1%, a tax decrease if you are a 1%, a cut in available healthcare, for you and your families. Punishment of the poor. Punishment for education. Much better than a lump of coal to pollute the air you breath and the water you drink. That's coming later.
6
I have a suspicion the Republicans keep loading this tax bill with such egregious cuts that it won't pass BUT it will have enough momentum to assure high end donors they tried. I mean, they can't be this mean to everyone not a millionaire, can they? Okay, not sure about that one but the more I read of this tax bill it seems to offend everyone but the 1%. What got Republicans elected is cultural conservatives and sooner or later they're going to realize that should not equate with being poor. Again, not sure about that, either.
Give this Republican congress points for brazenness. They are selling lies to their base who seem willing to ignore their moral bankruptcy as long as they get what they want: getting rid of immigrants, people of color, those of a different religion or sexual orientation and well, anyone who isn't them.
1
Never before have I been this angry with those in power. This bill is not just negligent or incompetent, it's outright evil, taking from the poor and middle class to line the coffers of the already rich, and destabilizing health care to boot.
These foul, evil, sinful, vile and utterly selfish men must be removed. November 2018 cannot come soon enough.
5
This absurd bill has no chance of winding up, in whole or in part, in law.
The purpose of the exercise of crafting a universally-despised piece of legislation was to give each member a wack at flogging the doomed issues needed for reelection next November.
Millions of Americans are coming forward to say that they have been a used by Republican "trickle-down" tax policies.
Paul "Ayn Rand" Ryan is a financial predator.
It's time to say NO MORE !!
4
This bill seems to have been written by the Chamber of Commerce for the selfish benefit of multinationals. The inability of college students to borrow at rates that the Wall Street Banks borrow, coupled with the loss of deduction of interest on education loans is huge step backward. It is extremely troubling that there has been negligible dissent from the idiotic Republican Representatives in the Congress. We are doomed to a life of servitude to the plutocrats.
1
Never vote for a Republican again.
Never.
13
I know, never again, not even on the local level. I don't know what they stand for, they aren't even the party of fiscal responsibility anymore. Done, they went too far.
1
Does this mean the PhD student tax is going through??
1
The men currently running our country are corrupt, grasping, servile to their billionaire overlords, completely oblivious to the pain and suffering of others and utterly beneath contempt. This is not the America I grew up in nor the country my father went to war to protect. What was he fighting for anyway? Liberty? Freedom? Democracy? Our erstwhile government abandoned those American values when they lined up meekly behind an autocratic, undemocratic, narcissistic and utterly incompetent buffoon like Donald Trump. Why bother holding elections? Next time let's keep it simple and just let Vladimir Putin choose our next president. This is not America. This is not freedom. This is not democracy. This government stinks to high heaven. Bye bye Ms. American pie. Welcome to Trumpistan.
2
The Republican lemmings are about to fall off the cliff. If they are lucky, a few decent Republican Senators will vote against the GOP budget suicide pact.
4
These people are shameless. I hope this will die in the Senate. In the mean time kudos to all the democrats that voted NO. It appears that the benefits of this Tax Plan go to a few billionaires so they avoid paying the estate tax and to corporations. At our expense. Don't forget Mitt Romney's exclamation during his campaign: "corporations are people my friend". Sure Mitt. He meant rich stockholders.
Let us all work hard to get the House and the Senate back from these piranhas and repair the damage, if for nothing else for our children and their future. We cannot allow the country to revert to the age of the robber barons.
Resist!
5
I'm looking at this photo and can't find the words to express what I feel. At least not in a respectable newspaper.
3
This is not 'tax reform', any bill proceeding should be labeled 'Tax Giveaway for the Already Wealthy'. Trump made his displeasure known about the AMT, many of the rich complain bitterly about what they have called 'the death tax' in an attempt to eliminate completely any estate tax.
As others have noted, not seen the gilded age of the Robber Barons over one hundred years ago, has such inequity existed between the wealthiest and the middle class and the poor.
'The research by Emmanuel Saez and Gabriel Zucman illustrates the evolution of wealth inequality over the last century. The chart shows how the top 0.1% of families now own roughly the same share of wealth as the bottom 90%.'
https://www.theguardian.com/business/2014/nov/13/us-wealth-inequality-to...
This is beyond disgusting. Not only their greed but now too the addition of the elimination of the ACA which will deeply affect millions of people with chronic health issues and others who simply need competent, reliable and fair priced health care.
14
Hopefully Colin Powell’s Pottery Barn saying will apply here
7
Unfortunately the 1% will be fine.
The rest doesn't matter to them.
Disgusting behavior. They are doing nothing for the middle class, just corporations and their wealthy friends
11
The People must RESIST.
11
They. Just. Don't. Care.
13
What is to celebrate. Has anyone read one good review or repirt on this tax break. Only lying Ryan has praised it. Maybe he will shut up now. All these guys need new jobs.
9
Why is this man smiling? How can Paul Ryan beam like a schoolkid who just got an A on his spelling test. He flunked civics, he's got no heart, no soul, no morals, no compassion.
19
I think that all the blue states should revolt for the bill is clearly very punishing for them.
11
Resist, call your senators...donate to democratic races all over the nation...
Run for office...continue resisting untill you are blue in the face.
We may not be able to control this government but there is a heck of a lot we can do to resist.
God save America's workers from the GOP!
11
And if you can, run for office!
The absolute glee on the Speaker's face is evil incarnate.
13
Print. Stop government borrowing. Abolish the IRS. Without taxes to manipulate society we can move from the fearful socialist man to the free, independent personally responsible citizen.
The senate had better be very, very careful. This could be the end for many of them. These Republican disciples of evil will get everything they deserve, at election time. Well, not Everything.
7
This is no longer government "for the people".
11
What taxes has Trump paid? What about the Trump Organization??
8
TV reports say that Trump would gain billions. Does he need anymore money?
Now you get to pay taxes on your taxes. Whoopee!
5
I sure hope to see the day that these people pay for their crimes against their country
8
Are both parties still "the same," Stein voters?
6
Why isn't anyone talking about the loss of personal exemptions!?
Anyone with children who takes the standard deduction with have less of a total deduction with the new tax plan. The increase in child tax credit will be helpful but will only reduce taxes for families one child. Families with more than one child will ultimately have increase in taxes.
Ok, maybe its possible that the actual percentage cut in tax rate will make up for the lost deductions of the child dependent exemptions for a family of four. That could happen for some families, i repeat some families, still most families of four will see a tax increase.
What will happen to a family of five? or six?
There taxes will increase even more!
Here is a chart that was based off some information from the LA Times but the information can also be found on the tax foundation's website or through a google search.
Standard Deduction & Exemptions
(People in the Household) (current) (proposed)
1 $6,350 + $4,050 = [$10,400] [$12,000]
2 $12,700 + $8,100 = [$20,800] [$24,000]
3 $12,700 + $12,150 = [$24,850] [$24,000]
4 $12,700 + $16,200 = [$28,900] [$24,000]
5 $12,700 + $20,250 = [$32,950] [$24,000]
4
The child tax credit is a little more complicated. Parents lookin to claim the credit can only receive a credit of 15% of their income over $3,000.
The current child tax credit is $1,000 per child and the new credit is $1,600 per child. Also the house plan only increases the child tax credit to $1,100 for the first year. The credit will increase each year and eventually hit $1,600 in 2036. These two facts allow for situations where the most at need children won’t receive the benefit of the increased child tax credit.
So say a single mother with two children makes minimum wage $14,500 annually could only receive 15% of the money she makes over $3,000. She would only receive $1,725. This is the same she would have received under current law.
However there are talks to increase the credit to $2,000 and start counting the 15% income for every dollar made not just after the first $3,000.
If this happens more families would benefit from the new tax structure.
Unfortunately, even if that happens some people are still left out. Apparently parents who don’t have a social and use a ITIN to pay their taxes most likely non-citizens will no longer receive the child tax credit. It’s estimated that this will effect 3 million children in low income families.
At the end of the day I️ don’t mind tax reform as long as it helps the people that need it the most.
Beyond time for a revolution. These heartless and cruel Republicans need to be ousted from government. Any knife they can stick in the middle class and less fortunate they do with gusto! How sad they think of ONLY themselves and what big business can gain from their vile leadership. And happy thanksgiving to us---NOT! Sad and ASHAMED to be an American.
7
"Senator Orrin Hatch of Utah, the Republican chairman of the Finance Committee, said that the appearance of a tax increase was a mirage that is the result of arcane scoring rules. Because people will no longer have to purchase health insurance, they may no longer receive tax credit subsidies for insurance that they do not purchase.
“Without those credits, they see an overall uptick in their tax liability,” Mr. Hatch said."
This is totally whack-a-doodle NUTS!
5
Come one and all to the USA where we have
The best taxation and representation money can buy
2
I'm extremely thrilled!!!
1
Thanks for the tax hike Republicans! More proof that they really don't care about the common person after fetushood...
4
If and when either Vladimir Putin or Benjamin Netanyahu are motivated to disclose Donald Trump's personal and family income tax returns and business records to the American people we will know how this House tax scam benefits the House of Trump. Or perhaps Iran or North Korea or China would pity the American people and let us know what they know.
5
I'll bet Reagan's cheering from his grave. The concepts behind this legislation have zero credibility - but the GOP just keeps rolling along with their pipe-dream that Big Business will be generous with their new found bonuses (lower taxes) and let it trickle-down to the masses.
2
What's in this for Paul Ryan with that grin? The Presidency? The Presidency of what a banana republic with nuclear weapons!!
1
The headline should read 1.5 trillion tax cut for billionaires and corporations.
6
Another win for the American oligarchy. The entire country suffers for a few thousand uber wealthy who could care less about their fellow man. Ancient Rome is alive and well and we all know what happened there. Also cutting people's medicaid so that millions die is no different then mass murder and in my eyes is a crime against humanity.
7
They're coming for your Medicare and Social Security next. Where do we turn for help? Canada?
8
Trump said in his inaugural that he would drain the swamp of politicians who came to Washington to do nothing but make money (review the tape, please). Those who had done nothing were the Republicans who obstructed, shut the government down, stalled a supreme court nominee for nearly a year, and conspiratorially said no to everything. Those were the ones doing nothing, Mr. President. In return, contrary to your sissy-fisted, "weird" (G.W. Bush's word) inaugural address promise, you told the naysayers that you would sign virtually anything they got to your desk.
In this tax/healthcare-gutting bill, the GOP here serves up the largest scam yet on the middle class of America. Tonight at 5:30pm, Veep Pence is throwing a big tax-scam party at the National Building Museum in Washington, DC. I'll be outside photographically documenting the protesters. I already have a gallery show in on Capitol Hill called "Peaceable to Assemble." I've yet more sad and disgusting work ahead of me, it looks like.
4
the notion that this bill is a gift to "the rich" is bizarre... as a highly-taxed member of the California branch of this evil, greedy pack of scoundrels, i'll be seeing a significant federal tax increase next year when I can no longer deduct the large state and local taxes I currently pay
3
A good moment to judge Congress against the wisdom of Franklin D. Roosevelt, who said, “The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” (Or, for Christian conservatives who despise FDR, you can try on the biblical verse from Matthew: “Then he will say to those at his left hand, ‘...Depart from me into the eternal fire prepared for the devil and his angels; for I was hungry and you gave me no food, I was thirsty and you gave me nothing to drink, I was a stranger and you did not welcome me, naked and you did not give me clothing, sick and in prison and you did not visit me.’”)
7
Solution:
It is possible to impeach Paul Ryan.
He can and should face impeachment for working against the American people to benefit himself, his donors, and the 1% in general.
He is betraying the majority of the country.
Trickle down economics has long been discredited.
It's pretty obvious that they are playing dumb to get rich.
8
Openly Kleptocratic. Shameful.
4
Major step towards overhaul???? This will set us back a couple of generations, while the wealthy few advance. Take these people down before they take us all down. You can not rest the good from the bad, and Jack and the Bean Stalk.
2
For the Republicans who voted for this bill, it's "win" at any cost. There is absolutely no thought given to how this bill truly affects the lives of our most vulnerable citizens - the poor, the young, and the elderly. As long as they can check the "win" box against the Democrats, they will proceed. Truly pathetic and disheartening...
4
can somebody estimate effect on each member of congress
3
So the middle class, who already can't afford to send their kids to college, save for retirement, or take a vacation, will get clobbered. People who earn less than $30,000 will see their taxes rise. Meanwhile our billionaire president has yet to release his tax returns to the public, and he never will. I continue to be completely shocked that anyone voted for this toxic con artist.
12
Do not forget all the despicable Republicans in Congress, without whom this cruel mess would not be possible.
Stop voting for Republicans - they do NOT represent us.
3
I know I speak for tens of millions of Americans when I say that until Democrats get into office and kill this monster of a giveaway to people who don't need it, I will no longer participate in the economy except for essentials.
By the way, Wisconsin, thanks for forcing Ryan onto all of us. 'ppreciate it.
9
That would actually only be one WI Congressional district rather than the entire state, but nevertheless, STILL voting against themselves and the rest of the country bears the brunt of his ignorance and disgraceful behavior.
2
This link to Indivisible gives you everything needed to call your senator, whether they're a Democrat or a Republican, including a direct link to their office and a call script:
https://www.trumptaxscam.org/
We have to remind the Republicans who they work for.
2
Let the legislation speak for itself.
There are two types of lies. The first one is obvious. Such as two plus two equals seven. No questions on that one.
The second type of lie is called one of ommision. That's when you tell the truth about a portion of your lie, which gives you a moral escape hatch, and at the same time appears to be true.
Let's use the current tax reform bill as an example of the latter...
It's called a middle class tax cut- which is TRUE for a minority of the middle class. The massive and I mean MASSIVE tax cuts actually go to corporations and the one percent. The bill is a lie without being a lie. Clever.
1
I'm an upper-middle-class resident of NY, and it looks like my taxes are going up fairly substantially.
Beyond the fact that this bill targets taxpayers like me directly, it's laser-focused on creating an economic crisis in blue states in general. That "extra" money I'm going to be paying to the federal government now? That was money I was going to use to paint my house or remodel my bathroom.
Blue-state Trump supporters may be super-pleased with their $400 reduction in taxes...but what happens when you take a whole bunch of money out of the pockets of spenders like me? That's a rhetorical question, you know what will happen to our local economies.
4
That picture of Paul Ryan grinning from ear to ear is sickening- I can't bear to look at it.
4
If any middle-class or poor American citizen lets the Republican-dominated Congress get away with this fraud, I don't want to hear any complaints about them losing their health insurance, Medicare or having to pay higher taxes. You’ll just be whistling in the wind while they clean out whatever’s left in your pockets. Now is the time to speak up and fight against greed and corruption or face the inevitable consequences.
1
Ironic that Nunes is quoted, as he just voted to slaughter Californians--supposedly his constituency. The focus on getting him voted out of office just sharpened.
2
The rich weren't rich enough, they needed to take college money from kids and health care funds from seniors. America is a lot less great because of their greed.
6
As long as we're crushing the poor, working class and middle class for obscene tax breaks for the rich, the Republicans are happy.
2
“The intent of our tax reform bill is to achieve tax relief for individuals at every income level in every state,” Mr. Brady said. Yes, every level: "A crumb for you, working poor people; a crumb for you, middle class people; and a truck load of loaves--and cakes--for you, rich people." Yes, something for everyone. But who exactly is laughing all the way to the bank?
So Trump is giving himself and his friends a huge tax cut...wow. The middle and working class people who voted for him should be storming his office and calling for his resignation. Trump represents complete CORRUPTION of government and he is a man with not a shred of honor.
2
It's not just tRump, it is all of the lousy Republicans in Congress.
Vote Republicans out of office. At every level from local jailer up to US Senator and President.
1
Trump Tax Plan = Sheriff of Nottingham: Take from the poor to give to the rich!
2
Citizens United has come back destroy representative democracy in My America.
1
The House tax bill is terrible!
The House passing a bill has been shown to mean very little. How many times did they repeal the ACA?
Beware November 2018, all Republican congressional candidates from California, New York, New Jersey, who voted for this entirely Regressive tax scam, there is going to be plenty of screaming from real estate, builders, and all the homeowners seeing their money flying away out of state. Ultimately, it will crash the economy.
2
The GOP are doing their best to eliminate poverty in the USA.
Unfortunately their plan is to eliminate the poor, rather than their poverty.
I am really tired of Blue States footing the bill for Red States, while getting less per-person voting power in the Presidential election. New York State, even before this farce of a tax bill, was a net exporter of Federal Tax dollars to those states that cannot muster the dollars to fix their roads, feed their poor or care for their sick.
In another time (but the same place) this would be called "taxation without representation" and spark a revolution.
5
American political life is in an a deeply abysmal state. The caption underneath the photo speaks to this. Single-party politics has become an acceptable feature of American politics. Trump is the classic protagonist for such tragedies.