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My middle class family are the big LOSERS in this tax plan. I may be selfish but I hope the Senate votes it down or restructures it so that hard working middle class families in all states get a cut and no middle class families are forced to pay more. The Republicans are dropping the ball on this one.
I'm sure you'll make it back on the tax cut for your private jet.
Some of the middle class will see a small tax cut that will be phased out in a few years. Some of the middle class will see an immediate tax increase. Corporations and some of the extremely rich will see a large tax cut that will not be phased out. That pretty much sums it up.
Millions in the middle class and small businesses will see an immediate tax hike, which can be hundreds of dollars per month.
But not to worry, Trump family will rake in about $1 billion, and from there it trickles down to people who construct golden toilets other shiny things.
Last edited by Finn_Jarber; 11-17-2017 at 10:02 AM..
And the tax break for golf courses is retained (of course)
"Still, few could have anticipated just how gratuitously the Tax Cuts and Jobs Act violates the president’s promises to the American people. Pretending that corporate tax cuts produce huge wage gains for middle-class workers is one thing. But ending deductions that benefit veterans, indebted students, orphans, and people who suffer from rare diseases — while preserving one that benefits owners of golf courses — requires almost superhuman chutzpah. The president has claimed this tax break for his “conservation” work at the Trump National Golf Club in Bedminster, New Jersey, and Mar-a-Lago Club in Palm Beach, Florida. The Obama administration estimated that ending the deduction would generate $600 million in revenue over ten years." GOP Plan Retains Tax Break for Owners of Golf Courses
Some of the middle class will see a small tax cut that will be phased out in a few years. Some of the middle class will see an immediate tax increase. Corporations and some of the extremely rich will see a large tax cut that will not be phased out. That pretty much sums it up.
Yep, pretty much sums it up. Anyone who thought that Donald Trump would support a tax cut that would actually benefit anyone but the top corporations has rocks in their head, or else they have partaken of too much Kool Aide.
The 5% tax cut will be offset by the elimination of the deduction for state and local taxes. I just read where Trump's family will save a billion dollars with this tax cut.
Did anyone really expect congress to do anything more than barely nibble around the edges of the tax code? It's still over 75,000 pages in length. And the middle class tax cuts being proposed are very small and won't be meaningful for most people.
Did anyone really expect congress to do anything more than barely nibble around the edges of the tax code? It's still over 75,000 pages in length. And the middle class tax cuts being proposed are very small and won't be meaningful for most people.
Yeah honestly that's my biggest disappointment. They talked such a big game about how they were going to simplify it, and they've just made it more complicated.
I asked my mother who is a staunch Democrat the same question. She said the big deal is that "we" are still bitter about the 2016 election loss and will block any legislation the Republicans come up with whether if it good for the American economy/people.
I asked my mother who is a staunch Democrat the same question. She said the big deal is that "we" are still bitter about the 2016 election loss and will block any legislation the Republicans come up with whether if it good for the American economy/people.
I asked my father in law who is a stanch Republican and he said all GOP bills must be supported or else someone might call him 'RINO', and because he heard in FOX that Republican bills are good bills.
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