A Look at the Senate Democrats' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS

[mikegriffith1]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would leave intact Trump's special repatriation rate of 13.5% for American corporate money parked overseas that is brought back to the U.S.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

 

[PredFan]

I say, let the Dems run on raising taxes.

 

[mikegriffith1]

I say, let the Dems run on raising taxes.

The Dem plan would be a big improvement over the 2017 tax rates, but it would not be as beneficial and pro-growth as the Trump tax cuts and Trump's infrastructure proposal. And, yes, Dems would have to run on imposing a modest tax hike on corporations and on people in the top marginal income tax bracket. But they could also say, "Look, we wanna cut the corporate income rate as well, but just not by quite as much, and we're not gonna touch the middle-class tax cuts."

 

[shockedcanadian]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

 

[mikegriffith1]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

Well, I don't know that it's fair to say that Dems have never supported tax cuts. Remember that in 2013, against the urging of the left wing of his party, Obama made most of the Bush tax cuts permanent. Furthermore, the bipartisan budget deal of 2016, which most Dems voted for, protected over $700 billion in tax breaks. Also remember that Bill Clinton signed a massive tax-cut bill in 1997.

 

[Flopper]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would leave intact Trump's special repatriation rate of 13.5% for American corporate money parked overseas.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

And the chance of this plan making it into law is about as likely as the NRA proposing a repeal of the 2nd amendment. This is clearly campaign propaganda for the midterms.

 

[Weatherman2020]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

Well, I don't know that it's fair to say that Dems have never supported tax cuts. Remember that in 2013, against the urging of the left wing of his party, Obama made most of the Bush tax cuts permanent. Furthermore, the bipartisan budget deal of 2016, which most Dems voted for, protected over $700 billion in tax breaks. Also remember that Bill Clinton signed a massive tax-cut bill in 1997.

Taxing the job creation small business segment, simply brilliant if you hate America.

 

[mikegriffith1]

Taxing the job creation small business segment, simply brilliant if you hate America.

Most small businesses would keep their current tax rates under the Dem plan because the Dem plan does not touch the huge rate reductions for the third and fourth personal income tax brackets. Also, those small businesses that pay the corporate tax rate would be paying 27% less than they were paying last year, albeit about 13% more than they are now paying under the Trump tax cuts.

 

[Weatherman2020]

Taxing the job creation small business segment, simply brilliant if you hate America.

Most small businesses would keep their current tax rates under the Dem plan because the Dem plan does not touch the huge rate reductions for the third and fourth personal income tax brackets. Also, those small businesses that pay the corporate tax rate would be paying 27% less than they were paying last year, albeit about 13% more than they are now paying under the Trump tax cuts.

Increasing taxes if Dems win is a brilliant idea.

Trump has to be the luckiest guy on the planet.

 

[talksalot]

I say, let the Dems run on raising taxes.

The Dem plan would be a big improvement over the 2017 tax rates, but it would not be as beneficial and pro-growth as the Trump tax cuts and Trump's infrastructure proposal. And, yes, Dems would have to run on imposing a modest tax hike on corporations and on people in the top marginal income tax bracket. But they could also say, "Look, we wanna cut the corporate income rate as well, but just not by quite as much, and we're not gonna touch the middle-class tax cuts."

If Trump's tax cuts and infrastructure proposals are superior to the Dems plan, and they are.....why even consider the Democrat's plan? It's not even their plan. It's a modified Trump plan that Dems would never have considered in a million years. Plus, you can't trust Democrats to actually do what they say they will do.
Don't vote Democrat....they suck!

 

[mikegriffith1]

Taxing the job creation small business segment, simply brilliant if you hate America.

Most small businesses would keep their current tax rates under the Dem plan because the Dem plan does not touch the huge rate reductions for the third and fourth personal income tax brackets. Also, those small businesses that pay the corporate tax rate would be paying 27% less than they were paying last year, albeit about 13% more than they are now paying under the Trump tax cuts.

Increasing taxes if Dems win is a brilliant idea.

Trump has to be the luckiest guy on the planet.

I'm not sure this a slam dunk for Republicans. The Dem plan only raises personal income taxes on people in the top bracket and only calls for reducing the cut in the corporate income tax rate by 4 percentage points.

Republicans need to keep voters informed about the hundreds of companies that are raising employee salaries and benefits thanks to the corporate income tax cut.

Republicans might also try to educate voters on why it is not greedy or wasteful for companies to buy back some/all of their own stock. At their presser the other day, Schumer and other Senate Dems demagogued this as something terrible and greedy and wasteful, when it's actually a very smart, sound thing for companies to do if they are heavily leveraged by shareholders. The less money you have to give to shareholders, the more money you have for other things and the more control you have over your company.

 

[Toddsterpatriot]

I say, let the Dems run on raising taxes.

The Dem plan would be a big improvement over the 2017 tax rates, but it would not be as beneficial and pro-growth as the Trump tax cuts and Trump's infrastructure proposal. And, yes, Dems would have to run on imposing a modest tax hike on corporations and on people in the top marginal income tax bracket. But they could also say, "Look, we wanna cut the corporate income rate as well, but just not by quite as much, and we're not gonna touch the middle-class tax cuts."

The Dem plan would be a big improvement over the 2017 tax rates,

They should have introduced this plan last year.

 

[Slade3200]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

Didn’t Obama propose cutting the corporate tax rate to 25%?

 

[OKTexas]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would leave intact Trump's special repatriation rate of 13.5% for American corporate money parked overseas that is brought back to the U.S.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

Maybe someone should read the Constitution to smukey schumer, you know the part were all bills raising revenue MUST originate in the House Of Reps.


.

 

[Kosh]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would leave intact Trump's special repatriation rate of 13.5% for American corporate money parked overseas that is brought back to the U.S.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

If you far left drones want to pay more in taxes you can always do so. But I bet none of you do it!

Why not give all your money to government and then let the government decide what you are worth.

This yet another political stunt to get the far left base fired up, however after so many have more money in their pocket, this will fall flat on it's face.

Even the millennials will want to keep more of their own money.

 

[Kosh]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

Didn’t Obama propose cutting the corporate tax rate to 25%?

No! You far left drones will always remember things wrong!

 

[The Original Tree]

No need to pass the Dem plan which is nothing but plagiarism of The Republican Plan just passed with just some minor changes just before the mid terms.

Go pound salt Schumer.

 

[PredFan]

I say, let the Dems run on raising taxes.

The Dem plan would be a big improvement over the 2017 tax rates, but it would not be as beneficial and pro-growth as the Trump tax cuts and Trump's infrastructure proposal. And, yes, Dems would have to run on imposing a modest tax hike on corporations and on people in the top marginal income tax bracket. But they could also say, "Look, we wanna cut the corporate income rate as well, but just not by quite as much, and we're not gonna touch the middle-class tax cuts."

How is it going to be an improvement? Increasing taxes on anyone is not an improvement. Essentially the government is taking money out of the economy. That cannot cause a better economy.

 

[mikegriffith1]

Didn’t Obama propose cutting the corporate tax rate to 25%?

No, Obama opposed any cut in the corporate income tax rate. When Romney proposed cutting the corporate tax rate to 25% in the 2012 election, Obama demagogued the idea, as did most other Dems.

PredFan: How is it going to be an improvement? Increasing taxes on anyone is not an improvement. Essentially the government is taking money out of the economy. That cannot cause a better economy.

True, which is why I oppose the Dem plan. But, you have to keep in mind that the Trump tax cuts have only been in effect for barely three months. If we adopted the tax reform part of the Dem plan next month, the effect would still be good, but not as good as the Trump tax cuts.

ToddsterPatriot: They should have introduced this plan last year.

Yes, indeed. One wonders why Schumer did not introduce this plan when the Trump tax-cut bill was being debated in the Senate. It's a bit late to be presenting this plan now. Despite their public posturing, I suspect that Dems know that the Trump tax cuts are very, very popular with the middle class, and that the corporate tax cut and the special repatriation rate are causing hundreds of billions of American overseas dollars to come back to the U.S.

 

[Slade3200]

A few days ago, Senator Chuck Schumer and other leading Senate Democrats held a press conference to present their infrastructure and tax reform plan. The full title of the bill is SENATE DEMOCRATS' JOBS & INFRASTRUCTURE PLAN FOR AMERICA’S WORKERS: RETURNING THE REPUBLICAN TAX GIVEAWAYS FOR THE WEALTHY TO THE AMERICAN PEOPLE.

The Dem plan is actually pretty good. It is only a tax-hike measure compared to the new tax rates under the Trump tax cuts. Compared to the tax rates that existed until last year, it calls for huge tax cuts, even for corporations, in spite of the bill's unfortunately partisan subtitle. If Hillary had proposed this plan during the election, Bernie supporters and other Dems would have skewered her for wanting to "give away hundreds of billions of dollars to the rich." Consider:

* The Dem plan would set the corporate income tax rate at 25%. This is 4 percentage points higher than the Trump rate of 21%, but it's 10 percentage points lower than what the rate was last year and for decades before that. When Mitt Romney proposed cutting the corporate tax rate to 25% in 2012, Dems attacked the idea as a "tax cut for the rich."

* The Dem plan would leave intact all of the Trump tax cuts for personal income taxes, with the sole exception of the top marginal rate, which would go back to the previous rate of 39.6%, which would still be lower than it was for most of Reagan's presidency. Moreover, the Dem plan would maintain the Trump threshold of $600K for the top bracket.

* As mentioned, the Dem plan would keep *all* of the massive Trump tax cuts for the middle-income brackets. It would also maintain the Trump tax-cut provisions of capping SALT deductions at $10K and of capping mortgage-interest deductions.

* The Dem plan would return the death tax (the estate tax) to 2017 levels, which were an improvement over the rates for most of the previous four decades, and it would also return to the previous GOP-backed threshold of $5.49 million for exemption from the tax (vs. $11 million under the Trump tax cuts).

* The Dem plan would bring back the AMT, a very bad, baffling move. But, the AMT only affected people who made over 120K (single)/160K (married), and it did not really bite anyone until they started making over $300K, and even then the bite was not draconian.

* The Dem plan would close the carried-interest loophole, something that should have been done with the Trump tax cuts.

* The Dem plan would use the assumed savings vs. the Trump tax cuts to fund $1 trillion in infrastructure spending, and even most conservative think tanks agree that infrastructure spending usually largely pays for itself and sometimes gives us a large net gain. Trump has called for at least $1.6 trillion in infrastructure spending.

The Dem plan is not bad at all, but it is not as good as the Trump tax-cut bill and the Trump infrastructure-spending proposal. The Dem plan is a non-starter as long as the GOP controls the Senate, but it is really a pretty good plan.

Full text of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan.pdf

Executive summary of the bill:
https://www.democrats.senate.gov/imo/media/doc/Senate Democrats' Jobs and Infrastructure Plan One Pager.pdf

The GOP will attack them mercilessly on this and position it as them piggybacking off of Trumps plan when they have never supported tax cuts. In fact, none of them even had the respect for the taxpayer to vote on the current cuts!

That's how I would go at them, on top of telling the public, "they now what some of YOUR money back to spend on their friends and pals on boondoggles. Not to mention increase the tax cuts to corporations who have given raises and bonues to their employees. All of that will be lost if you elect them"

Didn’t Obama propose cutting the corporate tax rate to 25%?

No! You far left drones will always remember things wrong!

I remember things wrong? Is that your whole arguement? How about you back it up with something more than dimwitted insults. Ya know, use reason, logic, an articulated argument or... wait for it... a link! What a novel idea!!! You know something like this that can factually show data that backs up your argument. Obama’s proposed tax plan lowered the corporate tax rate from 35% to 28% and the effective tax rate to 25%... so you were saying?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness