The Derp
Gold Member
- Apr 12, 2017
- 9,620
- 661
- 205
- Banned
- #1
Do Conservatives seriously think that their budget-busting, deficit-expanding transfer of wealth from the 99% to the top has any chance of passing in this political environment? Never mind the fact that tax cuts never deliver on any of the promises made of them, never mind the fact that we just went through this 16 years ago with Bush the Dumber and 5 years ago with Brownback in Kansas, and never mind the fact that Conservative policy has been stuck in the same rut for 40 years, why would these tax cuts magically grow the economy when they didn't before?
About half of all people making under $100K will either see no change in their taxes, or an increase in their taxes because of the elimination of deductions. Meanwhile the top 0.1% will benefit the most from this tax plan, with the 1% also benefiting immensely, some of whom will see their taxes cut in half. To pay for tax cuts for the rich, the Conservatives are eliminating state & local tax deductions, capping mortgage interest deductions, eliminating grad school (re: STEM grad students) tuition deductions, eliminating student loan interest deductions, eliminating the child tax credit, eliminating EITC, eliminating the AMT, eliminating medical expense deductions, deductions for teachers who buy school supplies for their students, the adoption tax credit, etc.
There is nothing in this Conservative tax plan that benefits anyone other than the very rich and their pet corporations.
It also increases the deficit beyond 10 years which means it's either got to have an expiration date (thus eliminating the entire purpose of this thing) or it needs 60 votes in the Senate to pass. Since Conservatives only have a 52-48 majority (which could drop to 51-49 pending AL's Senate election), they simply lack the votes to pass this disaster.
There is no need or purpose for this tax cut. The only reason Conservatives are pushing this is because they want to take more for their rich corporate donors and give you the shaft.
About half of all people making under $100K will either see no change in their taxes, or an increase in their taxes because of the elimination of deductions. Meanwhile the top 0.1% will benefit the most from this tax plan, with the 1% also benefiting immensely, some of whom will see their taxes cut in half. To pay for tax cuts for the rich, the Conservatives are eliminating state & local tax deductions, capping mortgage interest deductions, eliminating grad school (re: STEM grad students) tuition deductions, eliminating student loan interest deductions, eliminating the child tax credit, eliminating EITC, eliminating the AMT, eliminating medical expense deductions, deductions for teachers who buy school supplies for their students, the adoption tax credit, etc.
There is nothing in this Conservative tax plan that benefits anyone other than the very rich and their pet corporations.
It also increases the deficit beyond 10 years which means it's either got to have an expiration date (thus eliminating the entire purpose of this thing) or it needs 60 votes in the Senate to pass. Since Conservatives only have a 52-48 majority (which could drop to 51-49 pending AL's Senate election), they simply lack the votes to pass this disaster.
There is no need or purpose for this tax cut. The only reason Conservatives are pushing this is because they want to take more for their rich corporate donors and give you the shaft.