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Interesting op-ed from John Hood today in the local Salisbury Post. It seems the great GOP tax cut has a 124 million deficit. Mr. Hood is saying don't worry that it can come out of some reserve account.
Now they have cut spending to the bone. Stuff needs to be fixed and the state is unable to create its own money. So there is going to be a come to Jesus moment.
See what the GOP is going to do with the tax cuts at the federal level. We see it here in NC and in Kansas and in Oklahoma.
He doesn’t have to worry about affording healthcare for his cancer like other americans due to his spectacular healthcare provided and paid for by the citizens
I expect every GOP member to support this flawed tax bill that benefits their pockets and the rest of the wealthy while taking healthcare away from the millions that need it.
Okay, I just have to make sure that you understand what is in this bill as far as healthcare is concerned. Because it doesn't take care AWAY from anyone. They are removing the unconstitutional mandate which forced people to buy healthcare. The only people who will lose healthcare will be those who choose to no longer carry it. Which is their right. The government should never have been involved with forcing that decision on Americans. So please, report the truth, not what you read in the headlines. Removal of the mandate does not take anything from anyone. It gives them their freedom of choice back. Something they never should have lost in the first place. And the only reason insurance companies are frowning on the repeal is they know they are going to lose a few customers, which means less people will be out there paying those astronomical rates we have been gifted with by President Obama's ACA.
The votes were down party lines because the GOP doesn't need Democrats to pass tax reform. Your representative could just as easy stay home and it wouldn't change a thing.
Also, I challenge you to cite your source on the claim that there's a deduction "for moving a factory abroad."
You can look it up yourself since apparently you haven't educated yourself on the tax bill, which is a personal responsibility.
You're looking for a clip from a senate hearing where exactly that question was asked and the person answering questions stated that yes, corporations can deduct moving a factory to another country under the proposed tax bill.
Quote:
Originally Posted by Rufus Clay Banger
I knew this is what would be posted in response to my post. And it's utter bull tripe. This tax rate is all about REPATRIATION of profits already held overseas which are NOT being brought back to the US due to double taxation and a 39% corporate tax rate. To assert that this will lead to a mass movement of factories overseas is to completely accept the opposite, which is that trillions in profits overseas will never be brought back to the US as is the status quo.
Your chosen sources have twisted it to fit your/their agenda while ignoring that the reverse will mean ZERO chance of repatriating those trillions at the current tax rate. If that's acceptable to you, then its time to stop complaining about it.
Under the proposed tax bill companies will still leave money over seas.
So-how about we try some honesty for a change? (yeah, I know-not something Dems are good about).
The tax bill increases the standard deduction to $24, 400. Now-how many of you whining about the bill HONESTLY pay more than this in mortgage INTEREST and property taxes? It's not "the poor". Or even a significant portion of the middle class. It will only impact a small number of high-income earners. You know, "the rich" the left like to demonize.
Ok, seriously, how many times? Currently, there are exemptions, they are taken in addition to the standard deduction or itemized deductions. So, family of 4 , 4 x 4050 = $16200. So the interest and property tax only need to exceed $8200. And I'm not even including sale tax deductions, the fact that often property tax can be bunched (2 years in one) and so on. Clear?
oops, I see this is already covered in detail by another poster
Don't you all understand? The Republicans in Congress are between a rock and a hard place.
On the one hand, they must think of the American Public, and doing what is best for America.
On the other hand, they must satisfy their 'big money donors', who insist on a tax cut for the wealthy, or said donations will be cut off.
To the Republicans, the choice is clear: satisfy the big money donors.
Actually, I guess it wasn't that hard of a choice for them after all.
When payment is finally due (e.g. recession) the Democrats will, in all probability, be in power, so the public will blame them, and not the Republicans.
I honestly think that the repubs couldn't care less about "doing what is best for America." They constantly attack funding for education, for scientific and medical research and medicare/medicaid. It's a race for the bottom with winner gaining third world status.
This tax break for the millionaires at the expense of everyone else will come back to haunt us all.
Two votes have taken place over the last couple of days, strictly along party lines. The first vote was to begin debate and the second vote was to send the bill back to committee. Debate has begun and the bill did not go back to committee.
With all of the deductions that are being taken away from so many, one would think that deductions for moving a factory abroad would be discontinued. That is not the case. Every dollar that is spent moving jobs abroad and claimed as an expense will continue to be deductible.
The President will betray the people who elected him just to get a win. His loyalty is to the class which he is a member. His signature on this tax bill will be clear evidence.
"jobs For Americans? Trump will sign a tax bill that does the opposite."
Thank you for your very un-biased opinion. Wink-wink!
Who did you say would win the presidential election?
Right, it's been shown trickle down doesn't work. Corporations are going to use their tax cuts to hoard cash instead of hire more workers or increase wages. Just watch and see.
"Right, it's been shown trickle down doesn't work."
"Right, it's been shown trickle down doesn't work."
WRONG, it DOES work.
Where's your proof?
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