Trump Tax Cut Proposal Underway

[Tero]

Need a Democratic tea party:
A conference committee of lawmakers from the House and Senate is expected to form next week. Leaders in Congress say they hope to have a bill for Trump to sign by Christmas.

If that happens, the governors said, they will consider legal action. Since the federal income tax was imposed just before World War I, it has excluded state and local taxes.

“We are looking at the legality now,” Cuomo said. “This has been in the tax code since it started, over 100 years. This is double taxation — they are taxing taxes.”

[Animavore]

Joseph Ellis: GOP is trying to erase over 100 years of history.

The Republican tax plan is still in the process of becoming law, but already several enduring features of the new American landscape it creates are clear for all to see.



It redistributes income upward from the middle class to the donor class at the top, thereby increasing economic inequality. It is as if the captain of the Titanic, upon setting sail, ordered the crew to take on ice.

It significantly increases the national debt, thus exposing all the deficit hawks in the Republican Party as chickens. The current chickens intend to recreate themselves as hawks, duplicitously decry the deficit they have just created, and then demand significant cuts in Medicare, Medicaid and Social Security. The brazen hypocrisy of it all defies paradox.

The way it passed is prime material for a feature film or miniseries entitled "The Decline and Fall of the Senate" or perhaps "Machiavelli was Naïve." Passed in the dead of night without even knowing what is in the bill because the text itself remained an unfinished, partially handwritten draft, this is the kind of scene a documentary scriptwriter would not have dared make up.

Now we know what "Again" means in the Trump campaign slogan, "Make America Great Again." It means the Gilded Age of late 19th-century America. This in turn means erasing most of the 20th century, to dismantle the political legacies of the Great Society, the New Deal, and the Progressive Movement. It means going back to the future when titans named Rockefeller, Vanderbilt, Carnegie and Morgan wielded more power than presidents. It means accepting embedded economic inequality as the natural order.

http://edition.cnn.com/2017/12/05/opini ... index.html

[Animavore]

Trump Tax Bill Exempts Just One College From Endowment Tax. It’s Owned By Betsy DeVos.

http://politicaldig.com/trump-tax-bill- ... tsy-devos/

They're not even trying to not act like scum.

[Tero]

Idiot Home Depot founder. Only the business tax lowering has any potential of trickle down, and not likely even that

The Republican effort to overhaul the nation's tax code would "unleash economic forces" and undermine any doomsday predictions from Democrats, Ken Langone told CNBC on Monday.

"I listen to [Senate Democratic leader] Chuck Schumer, and the end of the world is coming with this tax bill," the billionaire GOP businessman said in a "Squawk Box" interview.

"My guess is [it's] the end of the world for the Democratic Party because if this tax bill, in my opinion, passes it's going to unleash economic forces all to the good for a lot of people," contended the co-founder of Home Depot.

Langone was referring to criticism levied by Schumer ahead of the early Saturday passage of the Senate's version of a bill that aims to cut taxes on working Americans and U.S. corporations. "Historians will mark this day as one of the darkest black-letter days in the long history of this Senate," Schumer said as he tried to delay the vote.

https://www.cnbc.com/2017/12/04/democra ... ngone.html

[Tero]

Senate bill ends up taxing businesses under alternative minimum tax
https://slate.com/business/2017/12/sena ... -bill.html

[pErvinalia]

Taxation is theft.

[Tyrannical]

Need a Democratic tea party:
A conference committee of lawmakers from the House and Senate is expected to form next week. Leaders in Congress say they hope to have a bill for Trump to sign by Christmas.

If that happens, the governors said, they will consider legal action. Since the federal income tax was imposed just before World War I, it has excluded state and local taxes.

“We are looking at the legality now,” Cuomo said. “This has been in the tax code since it started, over 100 years. This is double taxation — they are taxing taxes.”

A Democratic tea party made up of the richest 5% angry at getting State and Local tax deductions axed

Elimination of the State and Local tax deduction at the Federal kills Democrats.

[pErvinalia]

Republicans: Get taxed twice!

[Tero]

More on Alt min tax hete
http://www.cnn.com/2017/12/06/politics/ ... index.html

[Brian Peacock]

Taxation is theft.

Unless you only spend it on the military, police, prisons, elected representatives, or roads.

[Tero]

Holy crap! Who knew taxes were so complicated? Or being president!
https://www.politico.com/story/2017/12/ ... ans-208049
He should have stuck to Muslims and goofy ideas about trade.

[Tero]

4% cut to Medicare every year.
https://www.npr.org/sections/health-sho ... -tax-bills

[Brian Peacock]

CNN report that lurking among the scrawl and scribble in the GOP tax plan is a clause to make anonymous political donations tax-deductible.

http://edition.cnn.com/videos/cnnmoney/ ... l.cnnmoney

[Seabass]

CNN report that lurking among the scrawl and scribble in the GOP tax plan is a clause to make anonymous political donations tax-deductible.

http://edition.cnn.com/videos/cnnmoney/ ... l.cnnmoney

We may as well just make the Koch brothers co-emperors.

[Brian Peacock]

For some reason I feel an urge to read Tom Paine again.