deanrd
Gold Member
- May 8, 2017
- 29,411
- 3,650
- 290
- Banned
- #1
As Megan McArdle points out, “Republicans are trying to sell this tax package as a fairer reform that will make things better for all Americans. If that is what they are actually trying to do, then they should probably not offer something so obviously shaped as a shiv for Donald Trump’s political enemies.”
GOP tax plan picks winners and losers
Americans are not optimistic about the GOP effort to overhaul the tax code. And can you blame them?
After telling constituents for a year about a fairer, flatter tax system that even a layman could easily follow, the House GOP this week produced a legislative tangle dense enough to hide a dozen coteries of groundhogs.
It forbids doctors, lawyers, accountants and other professionals from taking advantage of certain tax breaks.
It monkeys with stingier cost-of-living adjustments.
It eliminates deductions for student loan payments.
It creates a hidden 45-percent tax bracket.
It adds a new tax penalty for divorce.
It eliminates medical cost deductions for the seriously ill.
It changes the incentives for the way Americans build and buy homes.
It establishes a new excise tax on college endowments.
It even changes the rules for adoptions.
While part of the unpopularity of the plan is just partisanship and a general mistrust of the GOP on the issue more than any specific provision, the sheer number of changes, large and small, will make lots of new enemies for the legislation.
Republican Tax Plan: Here's How Tax Reform Will Affect You
http://nypost.com/2017/11/03/gop-tax-plan-will-make-your-divorce-suck-even-more/
Another article from Fox News:
Guess who loses with Trump’s tax plan?
80% of the GOP tax cuts would benefit the top 1% by the 10th year of the plan.
So, what about the rest of us? Well, in 2018, middle-income households (those earning $50,000 to $90,000 a year) would receive a tax break on average of $660, or 1.2% of their after-tax income. While they would get an initial, tiny tax cut, the numbers would get worse over time: “By 2027, more than one of every four middle-income families would pay more in taxes.”
In other words, the wealthy would get the most benefits from the GOP plan, while the rest of us get crumbs or worse — a tax increase. But we all knew that. Indeed, a CNN poll released last week found that only 24% of Americans believe their families will benefit from Trump’s proposed tax plan. Meanwhile, 31% believe the bill will adversely affect them.
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Bend over Americans. Republicans, once again, want to give it to you ba11s deep.
You know when Fox News starts complaining, you have problems.
GOP tax plan picks winners and losers
Americans are not optimistic about the GOP effort to overhaul the tax code. And can you blame them?
After telling constituents for a year about a fairer, flatter tax system that even a layman could easily follow, the House GOP this week produced a legislative tangle dense enough to hide a dozen coteries of groundhogs.
It forbids doctors, lawyers, accountants and other professionals from taking advantage of certain tax breaks.
It monkeys with stingier cost-of-living adjustments.
It eliminates deductions for student loan payments.
It creates a hidden 45-percent tax bracket.
It adds a new tax penalty for divorce.
It eliminates medical cost deductions for the seriously ill.
It changes the incentives for the way Americans build and buy homes.
It establishes a new excise tax on college endowments.
It even changes the rules for adoptions.
While part of the unpopularity of the plan is just partisanship and a general mistrust of the GOP on the issue more than any specific provision, the sheer number of changes, large and small, will make lots of new enemies for the legislation.
Republican Tax Plan: Here's How Tax Reform Will Affect You
http://nypost.com/2017/11/03/gop-tax-plan-will-make-your-divorce-suck-even-more/
Another article from Fox News:
Guess who loses with Trump’s tax plan?
80% of the GOP tax cuts would benefit the top 1% by the 10th year of the plan.
So, what about the rest of us? Well, in 2018, middle-income households (those earning $50,000 to $90,000 a year) would receive a tax break on average of $660, or 1.2% of their after-tax income. While they would get an initial, tiny tax cut, the numbers would get worse over time: “By 2027, more than one of every four middle-income families would pay more in taxes.”
In other words, the wealthy would get the most benefits from the GOP plan, while the rest of us get crumbs or worse — a tax increase. But we all knew that. Indeed, a CNN poll released last week found that only 24% of Americans believe their families will benefit from Trump’s proposed tax plan. Meanwhile, 31% believe the bill will adversely affect them.
-------------------------------
Bend over Americans. Republicans, once again, want to give it to you ba11s deep.
You know when Fox News starts complaining, you have problems.
