Any Republicans disappointed with the new tax reform?


https://www.yahoo.com/news/trump-promise...30669.html


WASHINGTON ― Donald Trump promised as he ran for president that the middle class would get a “massive” tax cut of 35 percent. After taking office, he promised that cuts would be aimed squarely at the middle class. His top economic aides promised a tax system no less progressive than the one in place today.

With a Republican Congress on the cusp of approving that tax cut legislation, Trump has failed to deliver on all three.

The bill reduces federal taxes by about 10 percent for the middle class, not the promised 35 percent, and only for eight years. What’s more, if the president was aiming to help the middle class, he missed wildly: Federal taxes as a percentage of income will go down most for the wealthiest.

And because the tax cuts for individuals expire after 2025, while the 40 percent reduction in the corporate income tax rate is forever, the end product will be a tax code significantly less progressive than today’s.

“It’s disgusting smash and grab. It’s an all-out looting of America, a wholesale robbery of the middle class,” House Democratic Leader Nancy Pelosi said at a Tuesday news conference. “The GOP tax scam will go down, again, as one of the worst, most scandalous acts of plutocracy in our history.”

Can you provide a link to where Trump said he was going to cut taxes by 35%? A simple google search didnt turn that up.

Another loss for the lib culture.

(12-20-2017 11:45 AM)UofMstateU Wrote:  Can you provide a link to where Trump said he was going to cut taxes by 35%? A simple google search didnt turn that up.

Yeah... I would like to see that link too.

Yeah the eggheads and the media elites hate it! MAGA. build that wall. #winning! As long as the Libturds hate it it’s good for me!

How can democrats be so completely programmed and indoctrinated that they actually want to give the government more of their money. It makes it easier to understand how otherwise normal Germans became national socialists.

Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

(12-20-2017 12:06 PM)usmbacker Wrote:  Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

Vote for a democrat, they know how to spend your money better than you.

Bwahahahaha. Should work well

Another losing strategy for the dems: Republican tax cuts that let you keep more of your income are evil!

(12-20-2017 12:06 PM)usmbacker Wrote:  Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

How long do you think it will take for corporations to start handing out raises?

Let me see if I get this:

Trump 'promised" 35% cut, which I don't remember hearing in any of his plans... I think Cruz was the only candidate who proposed an actual number (and I want to say his was 21%)

But we only get a 10% percent cut...

And I'm supposed to be upset at a cut in taxes?

I promise to give fit $3500 bonus for doing nothing other than your normal activity. Oh, damn, my company (in this case Congress) said I can only give you $1500... I do have to give this other guy $2000 though, cause I promised him $4500....

So do you really want that $1500? I mean it's not the $3500 I promised you I'd try to get, but if you're really not interested in that 1500, I'll go do something else with it.

This article just reveals the truth about the left we all know... "Democrats are miserable people for the most part, and you know they say misery loves company".

(12-20-2017 12:06 PM)usmbacker Wrote:  Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

"but 2027!"

(12-20-2017 12:16 PM)Fitbud Wrote:  

(12-20-2017 12:06 PM)usmbacker Wrote:  Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

How long do you think it will take for corporations to start handing out raises?

Handing out lol.

The major purpose of this tax cut was to get corporate tax rates in line with the rest of the world.

I find it interesting that almost a decade ago we had two very well-informed and bipartisan task forces, Bowles-Simpson and Domenici-Rivlin, take a look at what it would take to balance the budget, and both came up with tax proposals that this law incorporates--lower corporate tax rates to world levels, lower and flatten individual income tax rates and eliminate a lot of itemized deductions--as a way to INCREASE tax revenues. This bill does not go as far. I wish it did, and I wish it included the Domenici-Rivlin proposal for a consumption tax. That was the approach determined by a bipartisan panel with more and better information than probably anybody positing on a message board, even this erudite bunch.

Isn't it funny how when you look at it an objective and nonpartisan manner, the result screams at you, but when one party tries to implement it, the other can't abandon their class warfare rhetoric long enough to look at what really needs to be done.

My approach would be simple--universal private health care using the Bismarck model (which France does for less government health care spending per capita than we do) plus a guaranteed basic income using either Milton Friedman's negative income tax or the Boortz-Linder prebate/prefund, paid for with lower and flatter and broader taxes, including a consumption tax. The poor would be better off, there would be few if any slipping through the cracks, the middle class would be better off, and the "rich" and corporations would be better off. Who would be worse off? The legion of bureaucrats who make the five US counties with the highest incomes all be in the DC Metro area. Money from Washington to the people, not from the people to Washington.

You can go two ways with the economy--make the poor richer or make the rich poorer. The left is so obsessed with their class warfare that they are perfectly happy making the poor poorer, as long as they succeed in making the rich poorer. I say let's focus instead on making the poor richer.

I have calculated mine multiple ways, I am going to see between 20.5% and 23% decrease in taxes.

(12-20-2017 12:17 PM)DaSaintFan Wrote:  Let me see if I get this:

Trump 'promised" 35% cut, which I don't remember hearing in any of his plans... I think Cruz was the only candidate who proposed an actual number (and I want to say his was 21%)

But we only get a 10% percent cut...

And I'm supposed to be upset at a cut in taxes?

I promise to give fit $3500 bonus for doing nothing other than your normal activity. Oh, damn, my company (in this case Congress) said I can only give you $1500... I do have to give this other guy $2000 though, cause I promised him $4500....

So do you really want that $1500? I mean it's not the $3500 I promised you I'd try to get, but if you're really not interested in that 1500, I'll go do something else with it.

This article just reveals the truth about the left we all know... "Democrats are miserable people for the most part, and you know they say misery loves company".

Who said you are supposed to be upset?

still waiting for that link fit....

(12-20-2017 12:19 PM)Fitbud Wrote:  

(12-20-2017 12:17 PM)DaSaintFan Wrote:  Let me see if I get this:

Trump 'promised" 35% cut, which I don't remember hearing in any of his plans... I think Cruz was the only candidate who proposed an actual number (and I want to say his was 21%)

But we only get a 10% percent cut...

And I'm supposed to be upset at a cut in taxes?

I promise to give fit $3500 bonus for doing nothing other than your normal activity. Oh, damn, my company (in this case Congress) said I can only give you $1500... I do have to give this other guy $2000 though, cause I promised him $4500....

So do you really want that $1500? I mean it's not the $3500 I promised you I'd try to get, but if you're really not interested in that 1500, I'll go do something else with it.

This article just reveals the truth about the left we all know... "Democrats are miserable people for the most part, and you know they say misery loves company".

Who said you are supposed to be upset?

Upset.. disappointed... I just used a different word.. Want me to change it to say "disappointed" to fit your original question better?

(12-20-2017 12:21 PM)DaSaintFan Wrote:  

(12-20-2017 12:19 PM)Fitbud Wrote:  

(12-20-2017 12:17 PM)DaSaintFan Wrote:  Let me see if I get this:

Trump 'promised" 35% cut, which I don't remember hearing in any of his plans... I think Cruz was the only candidate who proposed an actual number (and I want to say his was 21%)

But we only get a 10% percent cut...

And I'm supposed to be upset at a cut in taxes?

I promise to give fit $3500 bonus for doing nothing other than your normal activity. Oh, damn, my company (in this case Congress) said I can only give you $1500... I do have to give this other guy $2000 though, cause I promised him $4500....

So do you really want that $1500? I mean it's not the $3500 I promised you I'd try to get, but if you're really not interested in that 1500, I'll go do something else with it.

This article just reveals the truth about the left we all know... "Democrats are miserable people for the most part, and you know they say misery loves company".

Who said you are supposed to be upset?

Upset.. disappointed... I just used a different word.. Want me to change it to say "disappointed" to fit your original question better?

Point taken

What about add to the deficit? Any issues with that?

(12-20-2017 12:16 PM)Fitbud Wrote:  

(12-20-2017 12:06 PM)usmbacker Wrote:  Yep, let the Dems campaign against more money in the paychecks and a booming economy. I can't wait.

How long do you think it will take for corporations to start handing out raises?

Corporations don't hand out money, that's the government's job. Corporations pay people for producing work.
What the corporate tax cut will do is alter the calculus for investment and plant location decisions more favorably toward the US. If building your new plant in Germany is a push with building it in the US, before taxes, then last year you would go to Germany's 30% tax rate versus the US's 39%. Next year, you'd make the same decision in favor of the US's 21% rate versus Germany's 30%. You may thing that having higher paying jobs (a factory can pay more than Walmart because a factory adds value, whereas Walmart's profits have to come from cutting costs) to choose from will not benefit workers. I respectfully disagree.