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Actually, if you look through these threads over the past few weeks, you will see that this statement has been repeated over and over again. I suppose they believe if you keep saying it, it will become true!
Isn't it fair that those who pay the most, get the most benefit?
Well yes, if all income were taxed at same rates, but they aren't and this tax "reform" piles onto that problem.
Earned income is taxed at higher rates than unearned/passive income which includes capital gains, carried interest and a whole host of other ways the "wealthy" make their money. Also unearned income is not largely subject to FICA payroll taxes, those rates take a good amount of many wage earners checks.
Cannot recall who did the decoupling (Regan's tax cuts?), but for a time in the USA taxes on all income were the same. That of course was an anathema to republicans because it "stifled investment....." and the rest arguments they use to promote different sets of rules for the rich versus poor.
Ever since that decoupling there has been a race to the bottom to tax those who do not "work" for a living less. Again it is the source of the much debated carried interest loophole. If you taxed income at same rates equally that thing would go away at once.
You don’t think lobbyists were the reason this was passed, Republicans were upfront that they needed to pass something or forget about financial backing. There were many loopholes added in this bill for wealthy taxpayers.
Obama did actually pass a small tax cut but republicans would not have allowed a significant tax cut the last 8 years, back then deficits mattered to them. Besides it was unnecessary the last several years as the economy was recovering.
Exactly!
After the fiasco that was repealing ACA, GOP had to show not only that they were capable of governing, but delivering on another much talked about point; lowering taxes. Something that always gives republicans and their supporters a hard on.
His Orangeness talked a good game on the campaign trail about tax "reform", but soon was schooled and rolled over by Mr. Paul Ryan and others. They were under the gun to give *something* to their backers, donors and supporters before end of year otherwise face the music in 2018 and 2020 election cycles. That music was a tune called "We Aren't Going To Give You Any More Money...".
Despite what some sheeple here seem want to believe the benefits of this tax "reform" largely go to upper middle and wealthy along with corporations. Well respected sources both on right and left have studied this "reform" and come to the same GD conclusion.
Benefits to lower income households (besides getting a few extra dollars per week in their pay packets) is supposedly going to come from where GOP always says it will; a "trickle down" effect as the wealthy and businesses/corporations distribute their "savings" and juice the economy. They've been peddling that Kool-Aid since the 1980's and results are far from concrete.
What we do have is a USA where over the past several decades the gap between "rich" and "poor" has grown and continues to grow still. We also have a country that is likely causing our founding fathers to spin in their graves; wealthy and powerful families/special interests pretty much are running this country. They are creating an aristocracy of wealthy persons who have done nothing else besides being born into a pot of money.
I never heard that mantra, I when I do, I do not pay much attention to either side. This is an issue of numbers which is much easier to quantify.
You would do better to look at facts, and not listen to the sound bytes of either side.
The facts are if you believe the treasury department that 90% of workers will get a larger paycheck next month.
The sound bite from the left for months was that was not going to happen. Hard to ignore since the left controls almost all the media. Believe me I try.
Most experts that are not mouth pieces for the left seem to agree with the treasury department. I will go with them.
The facts are if you believe the treasury department that 90% of workers will get a larger paycheck next month.
The sound bite from the left for months was that was not going to happen. Hard to ignore since the left controls almost all the media. Believe me I try.
Most experts that are not mouth pieces for the left seem to agree with the treasury department. I will go with them.
The analysis that I have seen indicate most will get tax cuts, that is not the issue. They couldn’t pass this tax cut without offering some small concessions to the middle class.
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