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Will house Dems pass a bill that gives billions to the rich?

task0778

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The House is expected to vote this week on President Joe Biden's Build Back Better legislation. The social spending bill includes investments in clean energy and affordable child care - but it also includes a $285 billion tax cut that would almost exclusively benefit high-income households over the next five years.

The measure would allow households to increase their deduction from state and local taxes from $10,000 to $80,000 through 2026, and then impose a new deduction cap through 2031. It's the second-most expensive item in the legislation over the next five years, more costly than establishing a paid family and medical leave program, and nearly twice as expensive as funding home-medical services for the elderly and disabled, according to an analysis by the Committee for a Responsible Federal Budget.


For all the bitching about paying your fair share, are the democrats really going to do this? Talk about handing the GOP a campaign issue they can use against the Dems, and they're planning on voting on this bill in the next couple of days. Unbelievable.
 

Rambunctious

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Both parties want this no matter what the GOP says in public...ruling is more attractive to elected officials than governing....we are surfs forever now....until the new revolution begins....and that won't be for a long time....it took decades of British abuse before Americans had had enough...
 

Otis Mayfield

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The second bill was meant as a distraction.

All they wanted was the first bill and Joe signed that into law.
 

Moonglow

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The House is expected to vote this week on President Joe Biden's Build Back Better legislation. The social spending bill includes investments in clean energy and affordable child care - but it also includes a $285 billion tax cut that would almost exclusively benefit high-income households over the next five years.

The measure would allow households to increase their deduction from state and local taxes from $10,000 to $80,000 through 2026, and then impose a new deduction cap through 2031. It's the second-most expensive item in the legislation over the next five years, more costly than establishing a paid family and medical leave program, and nearly twice as expensive as funding home-medical services for the elderly and disabled, according to an analysis by the Committee for a Responsible Federal Budget.


For all the bitching about paying your fair share, are the democrats really going to do this? Talk about handing the GOP a campaign issue they can use against the Dems, and they're planning on voting on this bill in the next couple of days. Unbelievable.
You loved tax breaks for the wealthy when Trump was president.
 

Moonglow

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The second bill was meant as a distraction.

All they wanted was the first bill and Joe signed that into law.
I noticed they moved the debt limit increase down the road.
 

g5000

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The House is expected to vote this week on President Joe Biden's Build Back Better legislation. The social spending bill includes investments in clean energy and affordable child care - but it also includes a $285 billion tax cut that would almost exclusively benefit high-income households over the next five years.

The measure would allow households to increase their deduction from state and local taxes from $10,000 to $80,000 through 2026, and then impose a new deduction cap through 2031. It's the second-most expensive item in the legislation over the next five years, more costly than establishing a paid family and medical leave program, and nearly twice as expensive as funding home-medical services for the elderly and disabled, according to an analysis by the Committee for a Responsible Federal Budget.


For all the bitching about paying your fair share, are the democrats really going to do this? Talk about handing the GOP a campaign issue they can use against the Dems, and they're planning on voting on this bill in the next couple of days. Unbelievable.
In other words, they are partially repealing Trump's SALT cap.

Prior to 2017, the SALT deduction had no ceiling at all. It was unlimited.

Trump's tax bill capped the deduction to $10,000. The Democrats are trying to raise it to $80,000.
 

marvin martian

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You loved tax breaks for the wealthy when Trump was president.

Trump gave a tax cut to all working people. Your party is in this just for their millionaire/billionaire buddies.
 

Moonglow

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Trump gave a tax cut to all working people. Your party is in this just for their millionaire/billionaire buddies.
Trump did not give tax breaks to everyone and the one he did give the middle class expires in 2024.
 

Winston

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Trump gave a tax cut to all working people. Your party is in this just for their millionaire/billionaire buddies.
Trump's tax cut was trickle down. You got a few cents, Trump's family, and the really wealthy, got millions, sometimes even billions, in dollars. You know what they use to call trickle down economics? Horse and sparrow. You feed the wealthy horses the sparrows can pick grain out of the horse's shit. So that is all you got, some measly bits of grain that you have to dig out of the shit.
 

Dagosa

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Trump did not give tax breaks to everyone and the one he did give the middle class expires in 2024.
He cut the marginal tax rates for high income earners. Failed to eliminated deductions for the higher income, but eliminated some deductions for the middle class. Trump raised the tax burden on the middle class.
 

marvin martian

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Wrong. He raised the tax burden on the middl3 class by eliminating state property tax exemptions. .

Wrong. The SALT deduction was not eliminated, it was capped at $10,000. If you choose to live in a high-tax blue state and pay more than that, that's your stupid decision.
 

Dagosa

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Wrong. The SALT deduction was not eliminated, it was capped at $10,000. If you choose to live in a high-tax blue state and pay more than that, that's your stupid decision.
You’re admittin* then that repos are free loaders. Kind of a ridiculous statement. For decades Trump lived in New York and took advantage of every deduction. So your answer is to moved to a depressed economy of most red states now on welfare from the Fed, paid for by mostly blue states. Always said republucans were free loaders. The biggest reason they are higher is, they’re responsible for depressed red states.
 

marvin martian

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You’re admittin* then that repos are free loaders. Kind of a ridiculous statement. For decades Trump lived in New York and took advantage of every deduction. So your answer is to moved to a depressed economy of most red states now on welfare from the Fed, paid for by mostly blue states. Always said republucans were free loaders. The biggest reason they are higher is, they’re responsible for depressed red states.

Why did you lie about the SALT deduction?
 

Dagosa

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Wrong. The SALT deduction was not eliminated, it was capped at $10,000. If you choose to live in a high-tax blue state and pay more than that, that's your stupid decision.
Federal Grants to all states were reduced resulting in increased state taxes under Trump.

Federal tax cuts for rich ALWAYS result in increased local and state taxes ALWAYS BY REPOS
 

Dagosa

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Wrong. The SALT deduction was not eliminated, it was capped at $10,000. If you choose to live in a high-tax blue state and pay more than that, that's your stupid decision.
“The President’s 2019 budget puts the onus on cash-strapped states and localities to replace the billions of federal grant dollars it slashes. This comes on the heels of passage of the GOP tax scam, which made it harder for states and localities to raise revenues by limiting the state and local tax deduction. By cutting vital grant programs that states and localities cannot backfill, the budget puts Americans, particularly low-income Americans, at risk and threatens the economic vitality of our nation.
Trump Budget Cuts Vital Funding to States and Localities
Guts Medicaid and undermines health care — The budget cuts $1.4 trillion from Medicaid ”
 

jbrownson0831

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Trump's tax cut was trickle down. You got a few cents, Trump's family, and the really wealthy, got millions, sometimes even billions, in dollars. You know what they use to call trickle down economics? Horse and sparrow. You feed the wealthy horses the sparrows can pick grain out of the horse's shit. So that is all you got, some measly bits of grain that you have to dig out of the shit.
I got a nice cut so did many others. Now we get nothing but a tax bill.
 

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