Do Democrats in Congress not Remember that the Tax Cut in the BBB is a Continuation of the 2017 Trump Tax Cut from his First Term?

[Seymour Flops]

Do they know that the Democrats had both houses and the White House and did not repeal that tax cut? Making it the Democrat Tax cut?

This congressman does not seem to:



Look how angry he is at the Secretary of the Treasury! Was he the lone voice in 2021 and 2022 calling on his fellow Dems to raise taxes by ending the Trump Tax Cuts?

Did he get that upset at them?

Or . . . Did he keep his mouth shut about it, knowing that raising taxes as soon as they got control would be political self-unaliving for his Party?

 

[IM2]

Wrong.

 

[pknopp]

Sadly a lot of people support something until they actually have to vote for it.

 

[Moonglow]

private schools, rum makers and others — together costing tens of billions of dollars — quietly caught a ride on Republicans' sprawling domestic policy megabill.

The legislation is primarily designed to prevent $4 trillion in looming tax increases set to hit at the end of this year. But, shortly before approving the plan, Senate Republicans added a new crop of unrelated, bespoke tax breaks. House GOP lawmakers got in their share, too.


Many are the sort of narrowly targeted breaks Republicans have long complained are unfair, reward influential special interests and unnecessarily complicate the tax code.

There’s a new supersized deduction for business meals — though only for employees at certain Alaskan fishing boats and processing plants, with the measure stipulating the facilities must be “located in the United States north of 50 degrees north latitude” though not in a “metropolitan statistical area.”

There’s a $17 billion expansion of a little-known provision that enables venture capitalists to make a fortune tax-free.


Sen. James Lankford (R-Okla.) won a carve-out for the oil and gas industry from a minimum tax on big corporations that was created during the Biden administration.

There’s a $2 billion break important to the rum industry and, tangentially, Louisiana, said Sen. Bill Cassidy (R-La.), a tax writer.

“We have the highest per capita intake of alcohol in the nation,” he said.

The targeted tax breaks have been overshadowed by the main purpose of the legislation: preventing a whole slate of tax cuts from expiring at the end of this year, and enacting a handful of breaks for things like tips and overtime pay that President Donald Trump had promised.

https://finance.yahoo.com/news/spaceports-venture-capitalists-tailored-tax-140100498.html

 

[Zincwarrior]

Do they know that the Democrats had both houses and the White House and did not repeal that tax cut? Making it the Democrat Tax cut?

This congressman does not seem to:



Look how angry he is at the Secretary of the Treasury! Was he the lone voice in 2021 and 2022 calling on his fellow Dems to raise taxes by ending the Trump Tax Cuts?

Did he get that upset at them?

Or . . . Did he keep his mouth shut about it, knowing that raising taxes as soon as they got control would be political self-unaliving for his Party?

Yes it was bullshit then.

 

[Moonglow]

I'd rather pay the higher taxes to pay off the debt instead of tax breaks for the wealthy.

 

[Seymour Flops]

The targeted tax breaks have been overshadowed by the main purpose of the legislation: preventing a whole slate of tax cuts from expiring at the end of this year, and enacting a handful of breaks for things like tips and overtime pay that President Donald Trump had promised.

https://finance.yahoo.com/news/spaceports-venture-capitalists-tailored-tax-140100498.html

Why did Democrats not end that horrible slate of tax breaks?

Hint: the American people dont want the biggest tax increase in history, not even to pay for free healthcare for illegals, and the Democrat pollsters know it.

 

[pknopp]

Why did Democrats not end that horrible slate of tax breaks?

Because they are as big of a failure as the GOP. Voting for either party is simply a race to the bottom.

Hint: the American people dont want the biggest tax increase in history, not even to pay for free healthcare for illegals, and the Democrat pollsters know it.

The people seem to be willing to be dead beats. I do recall many being gleeful that Trump would finally get the deficit addressed. Until of course he laughed at you.

 

[Moonglow]

Why did Democrats not end that horrible slate of tax breaks?

Hint: the American people dont want the biggest tax increase in history, not even to pay for free healthcare for illegals, and the Democrat pollsters know it.

Ah, yes, let's blow off the debt problem now that a MAGAT is in office.

 

[Seymour Flops]

Ah, yes, let's blow off the debt problem now that a MAGAT is in office.

Nobody wants to deal with the debt. It would cause real economic pain now in exchange for promises of a better future. Wont ever fly politically.

Thats a fact. We can cry about it or we can figure out the best way to serve the American taxpayer, given the debt.