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Reply to "Do you think Trump's tax proposal will pass?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It looks like the conference process might result in some movement on the blue state tax increase/SALT deduction. Fingers crossed! https://www.washingtontimes.com/news/2017/dec/6/pat-toomey-state-and-local-tax-deduction-changes-l/[/quote] And what other services will they have to cut to pay for that? [/quote] They are upping the corporate tax rate. Every 1% increase in the corporate tax rate "saves" approximately $100 billion. Let that sink in for a moment. Pretty much the ENTIRE cost of the tax bill is to fund corporate tax reductions (they are cutting the rate from 35% to 20%). That's $1.5 trillion right there. If they up the rate to 22%, that frees up $200 billion for SALT deductions. They are truly giving the people are few crumbs. And yet they still have the temerity to bitch that "20% isn't good enough." Seriously.[/quote]
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