Republican Tax Plan Revealed

[PC2]

So what you're saying is you don't mind increasing the deficit for the possibility of increased (but not guaranteed) revenue

The deficit is fine. If it becomes a problem then we can adjust spending later.

[Rasulis]

I'm not an s-corporation but we all benefit when businesses have more incentive to come to the US and create more financial value. Also, a million dollars isn't very much money anymore given property values. I'm not sure why anybody cares about the "millionaire" label.

Wonder which states will get these new businesses?

Mississippi, Arkansas, West Virginia, Wyoming, Louisiana, Oklahoma, Alabama, Montana and Alaska?

Or, California, Massachusetts, Washington, Virginia, Colorado, Delaware, Maryland and Utah?

One hint, one state in the second list received 55% of the total US Venture Capital Funding.

[Dontrike]

The deficit is fine. If it becomes a problem then we can adjust spending later.

It's almost like we should be doing that now, rather than giving millionaires even more money for them to stash away and not do anything with.

[Shadowferal]

Cutting taxes that the poor and middle class have to pay for...yeah, that's a good thing.

[Daelak]

You need to have some patience. It's about planting a seed and creating good conditions, you can't expect to reap the benefits instantaneously.

Just wait for that trickle. Keep waiting, it will be nice, warm, and sterile.

[Ahovv]

Guys we all know trickle down economics works! I mean look at how it's been tried the past 20x and all the extra taxes we got out of a booming economy! Oh wait...

[Breccia]

So, this is a list of amendments being discussed:



First of all, Sen. McCaskill got it from a lobbyist. Not another Senator. It was the first time she, or any Democrat, had seen the list.

Second, I can't help but point out Collins asked for medical deductions for 2017 and 2018...and no other year. That sounds like a pretty cheap, arguably naive, price to set for a "yes" vote.

Third, let's give Hatch some credit for going with "deductions for paying for religious school tuition is okay"

[Redwyrm]

The deficit is fine. If it becomes a problem then we can adjust spending later.

Until it's a Democratic President or Congress and then it's "You can't spend a dime until you pay for it in advance"

[Draco-Onis]

So, this is a list of amendments being discussed:

This is freaking insane there is no bill yet, they are literally doing this on the fly at the end of this none of these republicans will know what is in the bill.

[Redwyrm]

Just wait for that trickle. Keep waiting, it will be nice, warm, and sterile.

Just ask Kansas how that experiment went. Now imagine that on a National scale

[Breccia]

This is freaking insane there is no bill yet, they are literally doing this on the fly at the end of this none of these republicans will know what is in the bill.

I disagree with the bolded part. I think there is a bill. I just think they don't want the American people to see it. I mean, the last draft was toxic enough, why give any clue about how bad this version is?

But yes, they're clearly caving to demands right and alt-right to get up to 50, which they've done. The vote's not official yet, but just you wait.

[PC2]

It's almost like we should be doing that now, rather than giving millionaires even more money for them to stash away and not do anything with.

Are you referring to people who keep all their money as currency? Most people invest back into the economy. The few people who don't will lose out compared to more active investors.

Just wait for that trickle. Keep waiting, it will be nice, warm, and sterile.

No need to wait. $18.5 trillion GDP, more wealth and jobs than ever. Capitalism has worked out great.

[Daelak]

Just ask Kansas how that experiment went. Now imagine that on a National scale

So you are saying it won't be warm? Maybe I should get a poncho.

- - - Updated - - -

No need to wait. $18.5 trillion GDP, more wealth and jobs than ever. Capitalism has worked out great.

Wait I thought we were talking about tax cuts, not capitalism. Secondly, that's the current GDP before any tax cuts. Seems like we are on a good path now, why the need to cut taxes?

[Breccia]

No need to wait. $18.5 trillion GDP, more wealth and jobs than ever.

I think what you meant to say was, "more wealth iniquity than ever". Like, 23rd out of 30 developed countries level of bad.

The index comes from the World Economic Forum, whose annual summit is taking place in Davos this week. It is a rather comprehensive measure of inequality, and the fact that the U.S. ranks so poorly is a sign of the country’s dramatic wealth concentration.Of all the factors in the index, the U.S. performed worst in what the WEF calls the inclusion category, which measures the distribution of income and wealth, and the level of poverty. Additionally, the country received particularly low marks in the areas of social protection—defined as efficiency of public goods and services and robustness of social safety nets—and employment and labor compensation. The U.S. joins Brazil, Ireland, Japan, Mexico, Nigeria, and South Africa as countries with inclusive-development rankings that fall below their GDP per capita rankings, a sign that their economic growth is not being shared, the report says. The U.S. had the largest gap between the two measures.

Since wealth iniquity is 100% the issue here, it matters far more than amount. Saying "the US is rich" is one thing. Saying "and that wealth helps everyone" is increasingly false.

[PC2]

Until it's a Democratic President or Congress and then it's "You can't spend a dime until you pay for it in advance"

Maybe those Democrats should increase taxes on the rich? They'll probably just use the rhetoric then never implement the policy.

[Kujako]

I'm not an s-corporation but we all benefit when businesses have more incentive to come to the US and create more financial value. Also, a million dollars isn't very much money anymore given property values. I'm not sure why anybody cares about the "millionaire" label.

If you think that to be true, you are free to just cut the corporation of your choice a check from your bank account. No need to drag the rest of us into your delusions.

[PC2]

If you think that to be true, you are free to just cut the corporation of your choice a check from your bank account. No need to drag the rest of us into your delusions.

Except nobody is asking people to cut a check to corporations.

[Kujako]

Except nobody is asking people to cut a check to corporations.

Ah, so you're taking the position that the CBO and everyone else who's looked at the tax plan is lying? Because if not, it is increasing many of our tax bills, to give a permanent tax cut to corporations and the wealthy.

[PC2]

Ah, so you're taking the position that the CBO and everyone else who's looked at the tax plan is lying? Because if not, it is increasing many of our tax bills, to give a permanent tax cut to corporations and the wealthy.

Corporations are not taking your money, the government is taking your money.

[Kujako]

Corporations are not taking your money, the government is taking your money.

And giving it to corporations... again, odds are good that YOUR taxes will go up as a result of the bills being worked on, to pay for lowering corporate taxes. If you're good with that, so be it. But you seem to be all over the place in your opinions on the mater, with the only constant being that it's somehow a good thing.