Senate tax bill will hurt the poor worse than originally thought

[rightwinger]

The poor don't pay income taxes

The analysis is of whether you will be better off or worse off than before

Great, they won't be worse off.

According to CBO they will be

And we all know who wins in this tax bill

LOL...the same CBO that gave a pass to Obamacare.

You are welcome to provide a source with a more accurate conclusion

 

[rightwinger]

Another tax break for the rich at the expense of the poor and working poor

Senate GOP tax bill hurts the poor more than originally thought, CBO finds

The Senate Republican tax plan would give substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation's poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.

By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to CBO calculations.

Ah the CBO, the GIGO Calculator of the government.

You are free to provide a source that contradicts the CBO

I'm sure someone else will use the CBO calculator to provide opposite information.

Well....lets see it

They are supposed to vote this week

 

[rightwinger]

Personally I think every person in the nation who makes any money at all should pay federal tax. Why the fuck shouldn't they help pay for our military, national parks and highways, etc?

As for the tax plan, OAN's Ledger has been flipping the shit out because there's a bubble tax on the rich that puts them at an effective 46.something% tax rate (vs the present 36%) No surprise the wealth network is irritated by a rate increase heh

From what I've seen on the subject /most/ American's will see a tax decrease, some, those who pay jack shit in now, will indeed be asked to "pay their fair share" - wwaaaahhhh

Yes it has a "honeymoon" clause; most do. IF it stuck around past 2025 without an increase in the economy those rates would have to go up - and with the existing plan it'd have to go up a shit ton more than that to make ends meet, so whatever.

I'm meh on the plan, we'll get hit a bit individually, a couple percent higher on one job, the other job falls under small business so we'll get a decrease; all in all it's a slight decrease in our taxes. Maybe 1 or 2%, if the fuckers don't kill the ACA individual mandate they'll have it right back because I refuse to be forced to buy a scam like health insurance when I have cash on hand to pay for my health care.

I may or may not eat the higher individual tax rates and take out some more monies...

Any way you look at it

We are asking those who are struggling to pay more while we are drastically cutting taxes on those who definitely are not struggling

Where are our priorities?

 

[leftwinger]

Nonsesnse. Your own link shows negatve tax impact for all brackets until expiration 2027. Smoke and mirrors about health care subsidies? For those less than $30K who pay no Fed income tax. Thats all.

 

[bendog]

Mommy.....why do people vote Republican?

Because they are assholes dear

I don't think its that simple. If this tax bill passes the senate, it will be because of one thing: the gop needs "a win." And a "no" vote will likely see Bannon run a primary challenge ... even though the tax bill does expressly the opposite of what Bannon had Trump saying he'd do. AND 60% of republicans support the tax bill ... and obviously anyone making 250K or more would support the bill or vote against self-interest. But where does the rest of that 60% come from?.

Obviously, we're talking relatively small numbers of people here. The gop is probably 30% of voters, so even guessing some who are not gopers would support the pig, it cannot be more than 25% of total voters. But unless a person has a sizeable chunk of equities, or unless the pass through provisions really benefit them (and they don't benefit service professionals, but only people who own oil change or some small business) I'm really at a loss to see who is helped.

No one can justify this as a economic stimulus. It's actually the opposite because we're already at 3% growth heading upwards, and inflation can't be far behind. We have full employment and wages still ain't going up because ...... for most jobs the skills needed are not very high, or there's already a sufficient supply of workers.

 

[miketx]

More fascist propaganda.

 

[EverCurious]

Personally I think every person in the nation who makes any money at all should pay federal tax. Why the fuck shouldn't they help pay for our military, national parks and highways, etc?

As for the tax plan, OAN's Ledger has been flipping the shit out because there's a bubble tax on the rich that puts them at an effective 46.something% tax rate (vs the present 36%) No surprise the wealth network is irritated by a rate increase heh

From what I've seen on the subject /most/ American's will see a tax decrease, some, those who pay jack shit in now, will indeed be asked to "pay their fair share" - wwaaaahhhh

Yes it has a "honeymoon" clause; most do. IF it stuck around past 2025 without an increase in the economy those rates would have to go up - and with the existing plan it'd have to go up a shit ton more than that to make ends meet, so whatever.

I'm meh on the plan, we'll get hit a bit individually, a couple percent higher on one job, the other job falls under small business so we'll get a decrease; all in all it's a slight decrease in our taxes. Maybe 1 or 2%, if the fuckers don't kill the ACA individual mandate they'll have it right back because I refuse to be forced to buy a scam like health insurance when I have cash on hand to pay for my health care.

I may or may not eat the higher individual tax rates and take out some more monies...

Any way you look at it

We are asking those who are struggling to pay more while we are drastically cutting taxes on those who definitely are not struggling

Where are our priorities?

Priority is the federal budget, period. I guess those dead beats better start pulling their weight. No one is paying my god damn share of the federal budget here, why should I pay theirs? (Any more than I already fucking am, after all 75% of the burden is on our shoulders as it is. New tax plan we carry like 72% - ooooo)

(Also, just for the record, I didn't have my accountant look at my figures, that's just my husband and I tossing numbers around. We'll have her fine tooth comb it if it becomes "real.")

 

[jknowgood]

Wow a liberal saying a tax cut will hurt the poor. Never heard that before.