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The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
It's not required, Democrats, at least on the USMB are generally in a constant state of pissed off and desperate..
They need to cut back on the fake news but they're just too addicted and weak.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
It's not required, Democrats, at least on the USMB are generally in a constant state of pissed off and desperate..
They need to cut back on the fake news but they're just too addicted and weak.
The Congressional Budget Office is now producing "fake news"? Damn! I thought that Congress was controlled by the GOP! Must be that "Deep State" that I keep hearing about!
GOP tax cut plan would add $1.7 trillion to the deficit, CBO projects
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
It's not required, Democrats, at least on the USMB are generally in a constant state of pissed off and desperate..
They need to cut back on the fake news but they're just too addicted and weak.
The Congressional Budget Office is now producing "fake news"? Damn! I thought that Congress was controlled by the GOP! Must be that "Deep State" that I keep hearing about!
GOP tax cut plan would add $1.7 trillion to the deficit, CBO projects
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
It's not required, Democrats, at least on the USMB are generally in a constant state of pissed off and desperate..
They need to cut back on the fake news but they're just too addicted and weak.
The Congressional Budget Office is now producing "fake news"? Damn! I thought that Congress was controlled by the GOP! Must be that "Deep State" that I keep hearing about!
GOP tax cut plan would add $1.7 trillion to the deficit, CBO projects
The gop and its dumb base makes fake news from out of their ass!!!! A bunch of deluted stupid fuckers that are so fucked in the head that they don't live in reality.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
If they double the standard deduction it will zero out my taxes. I'd call that a tax cut and I am in no way rich.
.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
If they double the standard deduction it will zero out my taxes. I'd call that a tax cut and I am in no way rich.
.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
If they double the standard deduction it will zero out my taxes. I'd call that a tax cut and I am in no way rich.
.
I used to be a republican, so I am asking you to please, believe me! If you will simply send your money to VH2017GetRich, I promise that somebody's taxes will decrease dramatically!
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Trump supporteres would vote to reenact the Jonestown mass suicide, if they thought that it would piss off the democrats.
If they double the standard deduction it will zero out my taxes. I'd call that a tax cut and I am in no way rich.
.
I used to be a republican, so I am asking you to please, believe me! If you will simply send your money to VH2017GetRich, I promise that somebody's taxes will decrease dramatically!
You may believe you know science but your complete shit on history.The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Then liberals and democrats (but I repeat myself) should love it. They always say we need higher taxes and that if you don't want higher taxes, you're selfish.
Hey, we were just being educated that the bill is a tax increase. Liberals are supposed to like that, based on the way they react when a tax cut is even mentioned.The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Then liberals and democrats (but I repeat myself) should love it. They always say we need higher taxes and that if you don't want higher taxes, you're selfish.
I missed out on being a hippie in the 1960's, because I was going to college at night and working during the day, so I did not have the experience of living in an alternative universe fueled by magic mushrooms, and LSD. However, I am having that opportunity to experience an alternative universe now, by way of the republican economic policy. What to do when the country is running a $666 budget deficit for 2017? Why, decrease taxes, of course! What to do about the shrinking middle class on fixed income? Why, reduce Medicare and Social Security, naturally! Need to create new jobs? Give corporations 100% deductibles for buying robots! There is a threat that a guy in Iraq will float his Nissan pickup truck across the Atlantic and plant a homemade bomb under the pavement at Times Square? Then, spend more than the next 7 nations combined on military, and support over 200 military bases combined on foreign soil! What this country needs is to add a trillion dollars to the deficit over the next 10 years with a tax cut for individuals and corporations, and then eliminate those individual tax breaks in 10 years, while making the corporate reductions permanent! WHAT? You complain that the individuals will end up paying for corporate tax breaks? Obviously, you do not understand voodoo economics!
Grassley explains why people don’t invest: ‘Booze or women or movies’
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Then liberals and democrats (but I repeat myself) should love it. They always say we need higher taxes and that if you don't want higher taxes, you're selfish.
I missed out on being a hippie in the 1960's, because I was going to college at night and working during the day, so I did not have the experience of living in an alternative universe fueled by magic mushrooms, and LSD. However, I am having that opportunity to experience an alternative universe now, by way of the republican economic policy. What to do when the country is running a $666 budget deficit for 2017? Why, decrease taxes, of course! What to do about the shrinking middle class on fixed income? Why, reduce Medicare and Social Security, naturally! Need to create new jobs? Give corporations 100% deductibles for buying robots! There is a threat that a guy in Iraq will float his Nissan pickup truck across the Atlantic and plant a homemade bomb under the pavement at Times Square? Then, spend more than the next 7 nations combined on military, and support over 200 military bases combined on foreign soil! What this country needs is to add a trillion dollars to the deficit over the next 10 years with a tax cut for individuals and corporations, and then eliminate those individual tax breaks in 10 years, while making the corporate reductions permanent! WHAT? You complain that the individuals will end up paying for corporate tax breaks? Obviously, you do not understand voodoo economics!
Grassley explains why people don’t invest: ‘Booze or women or movies’
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
Then liberals and democrats (but I repeat myself) should love it. They always say we need higher taxes and that if you don't want higher taxes, you're selfish.
I missed out on being a hippie in the 1960's, because I was going to college at night and working during the day, so I did not have the experience of living in an alternative universe fueled by magic mushrooms, and LSD. However, I am having that opportunity to experience an alternative universe now, by way of the republican economic policy. What to do when the country is running a $666 budget deficit for 2017? Why, decrease taxes, of course! What to do about the shrinking middle class on fixed income? Why, reduce Medicare and Social Security, naturally! Need to create new jobs? Give corporations 100% deductibles for buying robots! There is a threat that a guy in Iraq will float his Nissan pickup truck across the Atlantic and plant a homemade bomb under the pavement at Times Square? Then, spend more than the next 7 nations combined on military, and support over 200 military bases combined on foreign soil! What this country needs is to add a trillion dollars to the deficit over the next 10 years with a tax cut for individuals and corporations, and then eliminate those individual tax breaks in 10 years, while making the corporate reductions permanent! WHAT? You complain that the individuals will end up paying for corporate tax breaks? Obviously, you do not understand voodoo economics!
Grassley explains why people don’t invest: ‘Booze or women or movies’
Great post......Grassley is a fucking idiot who should be relegated to a nursing home for the deranged......(as he will soon be....)
This tax SCAM is opposed by more than half of the population, and is being rammed through STRICTLY for political reasons with the pending 2018 midterms.
ALWAYS ask yourself these 2 questions:
- Why is this tax scam to be enacted AFTER the midterms........?
- Why are corporate tax cuts PERMANENT while middle class tax cuts TEMPORARY?
Fake news...The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: on net, it would reduce the amount of taxes collected by the federal treasury by about $1.5 trillion over 10 years.
But that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy. Most immediately, the plan will take a large chunk out of state and local revenue that isn’t factored into that total. But more broadly, the bill cuts taxes by a full $6 trillion over a decade.
Senate Majority Leader Mitch McConnell, R-Ky., said Friday afternoon Senate Republicans have the votes to pass the plan, which gets referred to as only a $1.5 trillion cut because it raises $4.5 trillion in taxes elsewhere. But the key question is who gets a tax hike and who gets a tax cut. Put simply, the bulk of the tax cut is going toward the rich, while the tax increases go to everybody else.
And so the bill, properly described, is two things: the largest tax cut — and also the biggest tax increase — in American history.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
Well, this fucking sucks! This is no tax cut unless you're in the top 5% of our society. This is fucked up.
