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

[Slade3200]

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.

What is this all about?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

 

[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 for manufacturers to 25%... so you were saying?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

 

[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.

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.

The American public is trained to not look into details. Is it raising taxes, yes or no and yes being the answer is all they will hear.

And you can bet before it is done every American will have to be paying more. Clinton ran on tax cuts and after he was elected but before he was even sworn in he did a 180.

 

[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.

What is this all about?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

One, just go back and look at what Obama and other Dems said about Romney's proposal to rollback the corporate income tax rate to 25% during the 2012 campaign. It's on video.

Two, did you actually read the link that you gave? It notes that Obama's 2014 tax plan called for cutting the corporate tax rate to 28%, not 25%. Obama's plan did call for lowering the effective corporate tax rate to 25% for manufacturers, but it also included a host of "one-time revenue raisers."

And did you notice that your link said that Obama's plan was a bad idea? I quote: "The 28 percent corporate income tax rate the president proposes is neither practical nor achievable." Did you notice that?

Actually, Obama's 2014 plan was a decent one. It would have been an improvement over the then-existing tax environment. But your far-left link says it would have been a "giveaway" to the rich.

 

[Slade3200]

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.

What is this all about?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

One, just go back and look at what Obama and other Dems said about Romney's proposal to rollback the corporate income tax rate to 25% during the 2012 campaign. It's on video.

Two, did you actually read the link that you gave? It notes that Obama's 2014 tax plan called for cutting the corporate tax rate to 28%, not 25%. Obama's plan did call for lowering the effective corporate tax rate to 25% for manufacturers, but it also included a host of "one-time revenue raisers."

And did you notice that your link said that Obama's plan was a bad idea? I quote: "The 28 percent corporate income tax rate the president proposes is neither practical nor achievable." Did you notice that?

Actually, Obama's 2014 plan was a decent one. It would have been an improvement over the then-existing tax environment. But your far-left link says it would have been a "giveaway" to the rich.

Yes I read the analysis, it said the plan was bad because it cut $3 of spending for every $1 of revenue produced after the tax cuts. A similar criticism of Trumps tax plan. You stated that Obama opposed any cuts to the corporate taxes. I’m showing you a proposal that lowered the tax rates to 28/25%.

Why didn’t these tax cuts pass in 2014?

 

[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.

What is this all about?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

One, just go back and look at what Obama and other Dems said about Romney's proposal to rollback the corporate income tax rate to 25% during the 2012 campaign. It's on video.

Two, did you actually read the link that you gave? It notes that Obama's 2014 tax plan called for cutting the corporate tax rate to 28%, not 25%. Obama's plan did call for lowering the effective corporate tax rate to 25% for manufacturers, but it also included a host of "one-time revenue raisers."

And did you notice that your link said that Obama's plan was a bad idea? I quote: "The 28 percent corporate income tax rate the president proposes is neither practical nor achievable." Did you notice that?

Actually, Obama's 2014 plan was a decent one. It would have been an improvement over the then-existing tax environment. But your far-left link says it would have been a "giveaway" to the rich.

Yes I read the analysis, it said the plan was bad because it cut $3 of spending for every $1 of revenue produced after the tax cuts. A similar criticism of Trumps tax plan. You stated that Obama opposed any cuts to the corporate taxes. I’m showing you a proposal that lowered the tax rates to 28/25%. Why didn’t these tax cuts pass in 2014?

One, under Obama's plan, most companies would have paid a corporate tax rate of 28%. The 25% effective rate would have only applied to manufacturers.

Two, when I said that Obama opposed any cut in the corporate tax rate, I was thinking of the 2012 election. Frankly, I'd forgotten about his 2013 proposal. Yes, in 2013 (not 2014), Obama proposed cutting the corporate tax rate to 28%, among other measures. So I stand partially corrected on that point.

FACT SHEET: A Better Bargain for the Middle Class: Jobs

Three, Obama's 2013 plan was actually a fairly decent one. But, unfortunately, it was DOA in the House, and was consigned to irrelevance when the Republicans took control of the Senate in 2014. His 2013 plan deserved serious consideration. It would have been an improvement over the then-existing tax code.

Four, as for why Obama's 2013 plan went nowhere, the Republicans did not give it a fair hearing or reasonable consideration due to the partisan atmosphere at the time. Similarly, the Republicans blocked a very good deal on immigration reform in which the Dems made huge concessions. The bill, S.744, passed the Senate with 68 votes, including 14 Senate Republican votes, but the House Republicans foolishly would not even allow a vote on it in the House.

 

[Slade3200]

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.

What is this all about?
Analysis Of President Obama's Corporate Tax Reform Plan - Americans For Tax Fairness

One, just go back and look at what Obama and other Dems said about Romney's proposal to rollback the corporate income tax rate to 25% during the 2012 campaign. It's on video.

Two, did you actually read the link that you gave? It notes that Obama's 2014 tax plan called for cutting the corporate tax rate to 28%, not 25%. Obama's plan did call for lowering the effective corporate tax rate to 25% for manufacturers, but it also included a host of "one-time revenue raisers."

And did you notice that your link said that Obama's plan was a bad idea? I quote: "The 28 percent corporate income tax rate the president proposes is neither practical nor achievable." Did you notice that?

Actually, Obama's 2014 plan was a decent one. It would have been an improvement over the then-existing tax environment. But your far-left link says it would have been a "giveaway" to the rich.

Yes I read the analysis, it said the plan was bad because it cut $3 of spending for every $1 of revenue produced after the tax cuts. A similar criticism of Trumps tax plan. You stated that Obama opposed any cuts to the corporate taxes. I’m showing you a proposal that lowered the tax rates to 28/25%. Why didn’t these tax cuts pass in 2014?

One, under Obama's plan, most companies would have paid a corporate tax rate of 28%. The 25% effective rate would have only applied to manufacturers.

Two, when I said that Obama opposed any cut in the corporate tax rate, I was thinking of the 2012 election. Frankly, I'd forgotten about his 2013 proposal. Yes, in 2013 (not 2014), Obama proposed cutting the corporate tax rate to 28%, among other measures. So I stand partially corrected on that point.

FACT SHEET: A Better Bargain for the Middle Class: Jobs

Three, Obama's 2013 plan was actually a fairly decent one. But, unfortunately, it was DOA in the House, and was consigned to irrelevance when the Republicans took control of the Senate in 2014. His 2013 plan deserved serious consideration. It would have been an improvement over the then-existing tax code.

Four, as for why Obama's 2013 plan went nowhere, the Republicans did not give it a fair hearing or reasonable consideration due to the partisan atmosphere at the time. Similarly, the Republicans blocked a very good deal on immigration reform in which the Dems made huge concessions. The bill, S.744, passed the Senate with 68 votes, including 14 Senate Republican votes, but the House Republicans foolishly would not even allow a vote on it in the House.

A very fair and honest analysis. Refreshing to see somebody who isn’t consumed by the partisan spin. Thanks for that!

 

[The Original Tree]

Obama always LOVED legislation that is based entirely upon deceptive lies.

The Affordable Healthcare Act was the most expensive tax hike in US History and caused Healthcare costs to sky rocket.

The Tax Fairness Plan was just as Onerus.

Go fuck yourself Libtards! Quit backing this loser. Quit lying and start being honest and maybe you can win back some of the 1,000 offices you lost under Obama Bin Lying!

Worst president ever, and you wanted a criminal to replace him and carry on the worst legacy ever! What you have is a sickness, and truth is the only cure for it, only you refuse to even take a spoonful of it.

 

[Slade3200]

Obama always LOVED legislation that is based entirely upon deceptive lies.

The Affordable Healthcare Act was the most expensive tax hike in US History and caused Healthcare costs to sky rocket.

The Tax Fairness Plan was just as Onerus.

Go fuck yourself Libtards! Quit backing this loser. Quit lying and start being honest and maybe you can win back some of the 1,000 offices you lost under Obama Bin Lying!

Worst president ever, and you wanted a criminal to replace him and carry on the worst legacy ever! What you have is a sickness, and truth is the only cure for it, only you refuse to even take a spoonful of it.

Why was Obama’s Tax plan just as Onerus? You type so many words and so little substance, how about you focus more of that energy on making an actual point using facts and explaination.

 

[Toddsterpatriot]

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.

Yes, indeed. One wonders why Schumer did not introduce this plan when the Trump tax-cut bill was being debated

Because Dems never want to cut taxes.

 

[Dschrute3]

$21 Trillion in Debt, yet the Politicians wanna spend more Tax Dollars. Doesn't seem very wise and responsible. How bout working on a Balanced Budget agreement instead? Just a suggestion anyway.

 

[Toddsterpatriot]

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

He wants to fund those lower rates by eliminating loopholes, including ones that encourage sending jobs overseas.

There is no loophole that "encourages sending jobs overseas".

He also proposes a minimum tax on corporate foreign earnings – almost like a Buffett Rule for multinational corporations.

Oh, so his tax cut would raise taxes. DERP!

 

[Dschrute3]

Yeah, cuz we got plenty of money. We're only $21 Trillion in Debt. Boy, what a bizarre mess.

 

[Slade3200]

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.

Yes, indeed. One wonders why Schumer did not introduce this plan when the Trump tax-cut bill was being debated

Because Dems never want to cut taxes.

Uhh, I just posted a link to Obama’s TAX CUT proposal that republicans wouldn’t even consider because they were in obstruction mode. Sound familiar?

 

[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

He wants to fund those lower rates by eliminating loopholes, including ones that encourage sending jobs overseas.

There is no loophole that "encourages sending jobs overseas".

He also proposes a minimum tax on corporate foreign earnings – almost like a Buffett Rule for multinational corporations.

Oh, so his tax cut would raise taxes. DERP!

Is that how your small mind works? One fraction of high earners get a tax hike and the rest of the plan slashes taxes for corporations to manufacturers to wage workers and your translation is that his plan raises taxes?! Get real

 

[The Original Tree]

No one gives a shit about the biggest con artist and Anti-American, Anti-Christian, Anti-Israel President, Loser And Liar ever elected, Obama Bin Lying, unless some brain-washed Lying asshole brings him up and we have to bitch slap him with reality.

Who the fuck thinks it’s ok to pay for Russian Propaganda and use the government as a weapon to spy on a rival campaign in order to subvert an election in favor of your chosen heir, a corrupt filthy lying skank whose only reason for being in government was to enrich herself?

Obama Bin Spying, that’s who!

Anyone that supports either of these pieces of shit is morally corrupt.

Take your KGB-Gestapo Administration and your love for those two pieces of shit and shove it up your ass.

Obama always LOVED legislation that is based entirely upon deceptive lies.

The Affordable Healthcare Act was the most expensive tax hike in US History and caused Healthcare costs to sky rocket.

The Tax Fairness Plan was just as Onerus.

Go fuck yourself Libtards! Quit backing this loser. Quit lying and start being honest and maybe you can win back some of the 1,000 offices you lost under Obama Bin Lying!

Worst president ever, and you wanted a criminal to replace him and carry on the worst legacy ever! What you have is a sickness, and truth is the only cure for it, only you refuse to even take a spoonful of it.

Why was Obama’s Tax plan just as Onerus? You type so many words and so little substance, how about you focus more of that energy on making an actual point using facts and explaination.

 

[Slade3200]

No one gives a shit about the biggest con artist and Anti-American, Anti-Christian, Anti-Israel President, Loser And Liar ever elected, Obama Bin Lying, unless some brain-washed Lying asshole brings him up and we have to bitch slap him with reality.

Who the fuck thinks it’s ok to pay for Russian Propaganda and use the government as a weapon to spy on a rival campaign in order to subvert an election in favor of your chosen heir, a corrupt filthy lying skank whose only reason for being in government was to enrich herself?

Obama Bin Spying, that’s who!

Anyone that supports either of these pieces of shit is morally corrupt.

Take your KGB-Gestapo Administration and your love for those two pieces of shit and shove it up your ass.

Obama always LOVED legislation that is based entirely upon deceptive lies.

The Affordable Healthcare Act was the most expensive tax hike in US History and caused Healthcare costs to sky rocket.

The Tax Fairness Plan was just as Onerus.

Go fuck yourself Libtards! Quit backing this loser. Quit lying and start being honest and maybe you can win back some of the 1,000 offices you lost under Obama Bin Lying!

Worst president ever, and you wanted a criminal to replace him and carry on the worst legacy ever! What you have is a sickness, and truth is the only cure for it, only you refuse to even take a spoonful of it.

Why was Obama’s Tax plan just as Onerus? You type so many words and so little substance, how about you focus more of that energy on making an actual point using facts and explaination.

Haha, all that hot air and not one word explaining your ignorant statement about Obama’s tax plan. You’re a joke

 

[The Original Tree]

Everyone has analyzed the loser’s tax plan.

Nobody gives a fuck about that traitor’s tax plan.

Obama Bin Lying has never had a good idea or original idea. He was nothing but a Marxist Puppet.

His Tax plan was a joke or it would have been voted on.

Quit trying to resurrect that piece of shit’s crappy legacy. It’s been eradicated. And if an honest investigation occurs in to his administration, the only legacy he’ll have is one of high crimes and misdemeanors.

No one gives a shit about the biggest con artist and Anti-American, Anti-Christian, Anti-Israel President, Loser And Liar ever elected, Obama Bin Lying, unless some brain-washed Lying asshole brings him up and we have to bitch slap him with reality.

Who the fuck thinks it’s ok to pay for Russian Propaganda and use the government as a weapon to spy on a rival campaign in order to subvert an election in favor of your chosen heir, a corrupt filthy lying skank whose only reason for being in government was to enrich herself?

Obama Bin Spying, that’s who!

Anyone that supports either of these pieces of shit is morally corrupt.

Take your KGB-Gestapo Administration and your love for those two pieces of shit and shove it up your ass.

Obama always LOVED legislation that is based entirely upon deceptive lies.

The Affordable Healthcare Act was the most expensive tax hike in US History and caused Healthcare costs to sky rocket.

The Tax Fairness Plan was just as Onerus.

Go fuck yourself Libtards! Quit backing this loser. Quit lying and start being honest and maybe you can win back some of the 1,000 offices you lost under Obama Bin Lying!

Worst president ever, and you wanted a criminal to replace him and carry on the worst legacy ever! What you have is a sickness, and truth is the only cure for it, only you refuse to even take a spoonful of it.

Why was Obama’s Tax plan just as Onerus? You type so many words and so little substance, how about you focus more of that energy on making an actual point using facts and explaination.

Haha, all that hot air and not one word explaining your ignorant statement about Obama’s tax plan. You’re a joke

 

[mikegriffith1]

Yes, indeed. One wonders why Schumer did not introduce this plan when the Trump tax-cut bill was being debated. Because Dems never want to cut taxes.

It is very fair to ask why Senate Dems did not present this plan when the Trump tax-cut bill was being debated. But it is not fair to say that Democrats never want to cut taxes. The largest chunk of the Obama stimulus was tax cuts. The bipartisan 2016 budget deal protected over $700 billion in tax cuts. Bill Clinton signed a huge tax cut in 11997.

Obama's 2013 tax reform proposal did not go far enough, but it was a definite step in the right direction. It would have been a substantial improvement over the then-existing tax code. The main problem with Obama's 2013 plan was that it included provisions that were not directly related to the tax code, such as a huge minimum wage hike.

The corporate income tax rate should be no more than 15%. Early versions of the Trump tax-cut bill reduced the corporate tax to that rate, but due to some weak-kneed Senate Republicans, the final product reduced the rate to 21%. The average corporate tax rate in Europe and Asia is between 18% and 21%.

The Schumer plan would peg our corporate tax rate at least 4 percentage points higher than the average European and Asian rate. It would, however, be a big improvement over the previous rate of 35%. But 21% is plenty high enough.

 

[Toddsterpatriot]

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.

Yes, indeed. One wonders why Schumer did not introduce this plan when the Trump tax-cut bill was being debated

Because Dems never want to cut taxes.

Uhh, I just posted a link to Obama’s TAX CUT proposal that republicans wouldn’t even consider because they were in obstruction mode. Sound familiar?

Yeah, a tax cut that didn't actually cut taxes. Cool!