- Jun 6, 2007
- 852
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The Republican tax reform bill is like President Donald Trump's administration they both involve a mountain high number of bad decisions. It is alarming how in this bill the Republicans are removing an abundance of good public policy provisions in the U.S. tax code. The crux of the problem with this Republican effort is that the Republicans are considering as sacrosanct, cannot be tampered with, their decision to lower the corporate tax rate from the current 35% to 20% which is enormously expensive and to pay for this they have to eliminate numerous tax reduction provisions in the current code which serve the American people very well. This is all caused by the narcissistic psychopath Donald Trump who wants to go down in history as the President that signed the largest corporate tax cut in U.S. history, Congressional Republicans should not betray the American people's interests by signing on to this unreasonable, impractical and dangerous goal because achieving it they will cause catastrophic harm in the country go back to the corporate tax reduction goal that had common support in the Republican party prior to the 2016 election cycle a lowering of the corporate rate to twenty-five percent!
The Republican tax bills want to eliminate or reduce individual tax filers from being able to deduct from their federal taxable income state income and local income and property taxes that individuals pay this is bad public policy move. Some states have a disproportionately high number of low income people which causes a disproportionately high Medicaid bill some cities have a disproportionately high crime problem which causes a disproportionately high criminal justice system and law enforcement expense, etc.. By allowing these deductions the federal government is saying we are all one nation all the American people band together to help one another if you X state or X city have added costs due to the economic or societal situation in your community which causes added taxes to your citizens we are there to help we are going to allow all Americans to deduct their state and local tax cost from their federal taxable income to try to make it up to you for your shouldering these higher tax costs. Federal taxes like state and local taxes are a means to raise government revenue to pay for legitimate government services and there is large overlap between legitimate local, state and government services so it is only fair to give groups of Americans that pay higher local and states taxes compared to other Americans credit for this higher tax bill in calculating their federal tax bill. The one exception to these principles has to do with state sales taxes if need be to raise revenue the Federal government could legitimately do away with the deduction for state sales taxes because one, individual tax payers control this expense with the choices they makes if a taxpayer makes a lot of luxurious expenditures their sales tax bill will be higher why should all the American taxpayers subsidies these taxpayers luxurious lifestyle and second there is probably significant padding/abuse in the taking of this deduction which would be eliminated if the deduction was stopped.
The Republican House Tax bill wants to do away with the health care deduction (currently health care expenses over ten percent are deductible). This is really really wrong, it is destruction of good public policy in the tax code. The health care expenses we are talking about here are large. American families experiencing these expenses are experiencing "trying" times the federal government should be saying to these families we are here to help you in these difficult times which are really outside your control this is what good governments do this is what the American people want. Also, with this tax change Republicans will probably significantly increase bankruptcies in America due to health care expenses, repercussions good governments don't knowingly cause with enactment of legislation such is not good legislation!
The mortgage interest deduction the Republicans should leave the hell alone good public policy wants to help as much as possible people own their own homes which this deduction does. This is especially beyond words important considering that most people no longer when they become senior citizens and can no longer work will get a defined pension from their employer and so are dependent on the equity in their home` to live because social security surely isn't enough to maintain their standard of living! However, if the Republicans need to raise revenue it would be legitimate to eliminate the interest deduction on second homes or refinances where equity is taken out of the home and it isn't earmarked for extenuating circumstances like education expenses or health care expenses.
The Republicans with their tax bill here are forgetting at least one thing which is that most Americans think that something that looks like a duck, walks like a duck and quacks like a duck should be called a duck. In this Republican tax bill this $300 non-child dependent tax credit has a lot of the hall marks of a stimulus check from the federal government it is a relatively small amount of money from the federal government given for each adult in a household and expires after five years. It sure seems like a back door stimulus check whose purpose is to stimulate the economy so that the Republican tax bill when enacted into law will look good for generating economic activity thereby diminishing any negative political fallout for the Republicans over their tax bill; part of the problem with this is it cost over a half a trillion dollars this is wrong for the Republicans to spend federal monies like this in these times where the country has an alarming national debt. It is also unbelievably hypocritical for the Republicans to do this $300 tax credit move because back in 2009 when President Obama and the Democrats were doing a stimulus bill to save the country from falling into a depression Republicans had a conniption over the bill's $400 payroll tax credit proclaiming this stimulus spending was bad economic policy that the monies should be used to lower Americans taxes to incentivize work; Republicans should scrap this $ 300 non-child dependent tax credit idea because it is wasteful spending, spending that cannot be justified under America's current circumstances!
The Republican tax bills want to eliminate or reduce individual tax filers from being able to deduct from their federal taxable income state income and local income and property taxes that individuals pay this is bad public policy move. Some states have a disproportionately high number of low income people which causes a disproportionately high Medicaid bill some cities have a disproportionately high crime problem which causes a disproportionately high criminal justice system and law enforcement expense, etc.. By allowing these deductions the federal government is saying we are all one nation all the American people band together to help one another if you X state or X city have added costs due to the economic or societal situation in your community which causes added taxes to your citizens we are there to help we are going to allow all Americans to deduct their state and local tax cost from their federal taxable income to try to make it up to you for your shouldering these higher tax costs. Federal taxes like state and local taxes are a means to raise government revenue to pay for legitimate government services and there is large overlap between legitimate local, state and government services so it is only fair to give groups of Americans that pay higher local and states taxes compared to other Americans credit for this higher tax bill in calculating their federal tax bill. The one exception to these principles has to do with state sales taxes if need be to raise revenue the Federal government could legitimately do away with the deduction for state sales taxes because one, individual tax payers control this expense with the choices they makes if a taxpayer makes a lot of luxurious expenditures their sales tax bill will be higher why should all the American taxpayers subsidies these taxpayers luxurious lifestyle and second there is probably significant padding/abuse in the taking of this deduction which would be eliminated if the deduction was stopped.
The Republican House Tax bill wants to do away with the health care deduction (currently health care expenses over ten percent are deductible). This is really really wrong, it is destruction of good public policy in the tax code. The health care expenses we are talking about here are large. American families experiencing these expenses are experiencing "trying" times the federal government should be saying to these families we are here to help you in these difficult times which are really outside your control this is what good governments do this is what the American people want. Also, with this tax change Republicans will probably significantly increase bankruptcies in America due to health care expenses, repercussions good governments don't knowingly cause with enactment of legislation such is not good legislation!
The mortgage interest deduction the Republicans should leave the hell alone good public policy wants to help as much as possible people own their own homes which this deduction does. This is especially beyond words important considering that most people no longer when they become senior citizens and can no longer work will get a defined pension from their employer and so are dependent on the equity in their home` to live because social security surely isn't enough to maintain their standard of living! However, if the Republicans need to raise revenue it would be legitimate to eliminate the interest deduction on second homes or refinances where equity is taken out of the home and it isn't earmarked for extenuating circumstances like education expenses or health care expenses.
The Republicans with their tax bill here are forgetting at least one thing which is that most Americans think that something that looks like a duck, walks like a duck and quacks like a duck should be called a duck. In this Republican tax bill this $300 non-child dependent tax credit has a lot of the hall marks of a stimulus check from the federal government it is a relatively small amount of money from the federal government given for each adult in a household and expires after five years. It sure seems like a back door stimulus check whose purpose is to stimulate the economy so that the Republican tax bill when enacted into law will look good for generating economic activity thereby diminishing any negative political fallout for the Republicans over their tax bill; part of the problem with this is it cost over a half a trillion dollars this is wrong for the Republicans to spend federal monies like this in these times where the country has an alarming national debt. It is also unbelievably hypocritical for the Republicans to do this $300 tax credit move because back in 2009 when President Obama and the Democrats were doing a stimulus bill to save the country from falling into a depression Republicans had a conniption over the bill's $400 payroll tax credit proclaiming this stimulus spending was bad economic policy that the monies should be used to lower Americans taxes to incentivize work; Republicans should scrap this $ 300 non-child dependent tax credit idea because it is wasteful spending, spending that cannot be justified under America's current circumstances!
