This tax plan clearly attacks the middle class: look at the income brackets that will end up paying much more tax - tuition, housing, income taxes - just look at them.

Anonymous wrote:

Anonymous wrote:The rich and corporations need tax cuts. They are the job creators. When they have more money, it's better for everyone.

I see you have drunk the Trump koolaid. How do the "rich" create jobs? And it has already been proven time and again, even stated by an author of Reagonimcs, that supply side economics doesn't work. Stop drinking the koolaid. You are going to end up poisoning yourself.

My kids will be thrilled when the rest of the US becomes a conservative nirvana like Kansas and is,so broke that they only go to school a few days a week.

Anonymous wrote:The rich and corporations need tax cuts. They are the job creators. When they have more money, it's better for everyone.

I see you have drunk the Trump koolaid. How do the "rich" create jobs? And it has already been proven time and again, even stated by an author of Reagonimcs, that supply side economics doesn't work. Stop drinking the koolaid. You are going to end up poisoning yourself.

Anonymous wrote:

Anonymous wrote:US is one of the most indebted countries in the world. AND there is no end in sight to the debt increase. The tax cuts for the wealthy and corporations pushed by a wealthy billionaire for his own personal benefit screws the country in the long run. This is the precise moment when US cedes control of global economy to China because US is becoming isolationist when China is ascending and will fill the vacuum left by the US.

http://www.pewresearch.org/fact-tank/2017/09/19/5-facts-about-government-debt-around-the-world/

Anyone who thinks the US is isolationist compared against China immediately as lost all credibility on the subject and has obviously zero knowledge of the Chinese political and economic systems.

Actually, anyone who disputes that China is among the most expansionist economic powers in the world right now has lot all credibility. Seriously, you need to read a newspaper.

I think most of us who are opposed to this tax bill which I call the "Make Trump Richer Bill" oppose it because:
1. It is lopsided with only 16% going towards personal income tax cuts. Around 12% benefits people who inherit estates in excess of $11 million and the rest is for corporations. This will only exacerbate the income and wealth inequality in this country.
2. The personal income tax cuts decline over time for lower income people. Poor and middle class people who receive a tax cut in 2018 see these tax cuts shrink over time and many end up paying more in taxes including the middle class family Paul Ryan used to promote the bill. Mr. Ryan claimed a family of four earning $59K would get a $1200 tax cut. In fact, they only get this the first year and by year 10 they are paying an extra $500 in taxes..
3. The bulk of the personal income tax cuts are enjoyed by the richest 5% and especially the richest 1%. People earning over $500K a year make the biggest gains.
4. The tax cut costs $1.5 trillion and will not pay for themselves with economic growth. History shows that while tax cuts do result in economic growth, the growth is too modest to garner enough revenue to pay for the tax cuts. The Bush tax cuts increased economic growth enough to replace 10% of the revenue lost from the tax cuts. The Republicans are relying on future growth rates of 6 or 7% to avoid running up the deficit.
There is a valid concern that growing deficits will result in the Republicans having political cover to do what they have been wanting to do for a long time: cut Medicare, Social Security, Medicaid and make deeper cuts in non defense discretionary programs (research, environmental protection, consumer protection, State Department etc).
5. To limit the tax cut to $1.5 trillion, they have raised taxes on several groups of people most notably upper middle class (as opposed to really rich) people especially UMC families who live in blue states. This is a politicization of our tax code. It is also strange to tax families earning between $100,000 - $300,000 in order to give more money to people who earn more than them (again remember people earning less than $100000 don't get very generous tax cuts and those shrink over time whereas the tax cuts for the very wealthy stay in place).
6. They are doing away with some deductions that many families rely on including the adoption credit and the medical expenses deduction. The medical expenses deduction is used by nearly 9 million families who spend more than 10% of their income on medical expenses and it helps families who are dealing with an expensive health issue such as cancer which could have them facing bankruptcy or a long term health care commitment such as home health or nursing home care for a spouse or parent. Nursing homes in the DCUM area cost $150,000 a year and the tax deduction helps families to use their own savings to keep their loved ones in care facilities without having to go onto Medicaid.
The WP covered the story of a family in just such a situation,
https://www.washingtonpost.com/business/economy/they-spent-years-planning-to-live-with-alzheimers-disease-the-gop-tax-bill-threatens-those-plans/2017/11/04/83ac1ffa-c098-11e7-8444-a0d4f04b89eb_story.html?hpid=hp_regional-hp-cards_rhp-card-business-technology%3Ahomepage%2Fcard&utm_term=.c7f336f7885d

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m an upper middle class professional and a Democrat. For years I’ve been hearing that I should really be Republican for my own self interest. Less taxes and all that. But now this new Trump/Republican tax plan come out and guess what, it complete is not good for me.

Can someone explain?

I thought liberals wanted their taxes raised to support those in need. All talk?

Is that part in the Republican budget?

I'll pay more taxes willingly if the social safety net is strengthened, the health of the environment strongly regulated, if science is well funded, etc. is this where my increased tax contributions are going?

Your taxes does pay for all that. Money is fungible. It's idiotic to expect that the particular taxes you've paid will go to specific purposes and not others.

Unless you've managed to grab hold of the means of funding, as Republicans have. Ironically, the descriptor idiotic is still very apropos.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't want to take America back to the 50's. I want you to start paying for what you want instead of wishing for stuff and demanding others pay for it.

And oh, BTW, I'm willing to get quite violent over this. You're not going to walk all over other people because you feel "entitled" to their earnings and property.

You and millions of others, pp. I hear you

I'm tired of people like you bilking the poor and middle class and their earnings to squeeze out more for the rich. Your cognitive dissonance is stunning, as your proclivity toward violence.

I'm tired of democrats bilking everyone, because they're the majority of those that pay zippy.


https://taxfoundation.org/new-treasury-data-shows-how-progressive-americas-tax-code-really/

The global 2000 public companies in 2017

https://www.forbes.com/global2000/list/#tab:overall

The global 2000 public companies in 2007

https://www.forbes.com/lists/2007/18/biz_07forbes2000_The-Global-2000_Rank.html

Anonymous wrote:

Anonymous wrote:US is one of the most indebted countries in the world. AND there is no end in sight to the debt increase. The tax cuts for the wealthy and corporations pushed by a wealthy billionaire for his own personal benefit screws the country in the long run. This is the precise moment when US cedes control of global economy to China because US is becoming isolationist when China is ascending and will fill the vacuum left by the US.

http://www.pewresearch.org/fact-tank/2017/09/19/5-facts-about-government-debt-around-the-world/

Anyone who thinks the US is isolationist compared against China immediately as lost all credibility on the subject and has obviously zero knowledge of the Chinese political and economic systems.

China is the largest exporter, largest trading nation. China on paper is communist but in reality is very capitalist. In 2000 there were barely any chinese companies in the forbes 2000 global companies. The list in 2017 has the second most after the US, not even including Hongkong. Thats a major power shift mostly at the expense of European and Japanese companies. The US has also lost, just not at the same level as Europe.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The rich and corporations need tax cuts. They are the job creators. When they have more money, it's better for everyone.

Demonstrably false, but conservatives never let a fact get in the way of a good, bullheaded belief.

Demonstrably? Please, demonstrate.

Not PP. If you understand economics at all read krugman the nobel winning economist or Jeff Sachs.

https://www.nytimes.com/2017/10/16/opinion/columnists/republicans-taxes-honesty.html?rref=collection%2Fcolumn%2Fpaul-krugman&action=click&contentCollection=opinion®ion=stream&module=stream_unit&version=latest&contentPlacement=6&pgtype=collection

http://edition.cnn.com/2017/10/30/opinions/trump-tax-cuts-sachs-opinion/index.html

But you don;t want to learn. You just want to troll because learning is difficult and needs intellect that you lack. Trolling is easy because you are semi literate and you have internet access.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m an upper middle class professional and a Democrat. For years I’ve been hearing that I should really be Republican for my own self interest. Less taxes and all that. But now this new Trump/Republican tax plan come out and guess what, it complete is not good for me.

Can someone explain?

I thought liberals wanted their taxes raised to support those in need. All talk?

Is that part in the Republican budget?

I'll pay more taxes willingly if the social safety net is strengthened, the health of the environment strongly regulated, if science is well funded, etc. is this where my increased tax contributions are going?

Your taxes does pay for all that. Money is fungible. It's idiotic to expect that the particular taxes you've paid will go to specific purposes and not others.

Not PP. Your comment is disingenuous at best. Ofcourse money will go to every department that gets discretionary funding. BUT What percent each receives is the key. Education, Fundamental research, EPA, Healthcare etc receive a smaller pie than the democrat proposals would pay for. Military will receive the biggest share while everything else gets a cut in the GOP proposal. So we have a white elephant military that keeps growing and gets stationed in far off places spending needlessly while our citizens receive poor education, poor access to health and reduced services in general.

Anonymous wrote:

Anonymous wrote:The rich and corporations need tax cuts. They are the job creators. When they have more money, it's better for everyone.

Demonstrably false, but conservatives never let a fact get in the way of a good, bullheaded belief.

Demonstrably? Please, demonstrate.

Anonymous wrote:US is one of the most indebted countries in the world. AND there is no end in sight to the debt increase. The tax cuts for the wealthy and corporations pushed by a wealthy billionaire for his own personal benefit screws the country in the long run. This is the precise moment when US cedes control of global economy to China because US is becoming isolationist when China is ascending and will fill the vacuum left by the US.

http://www.pewresearch.org/fact-tank/2017/09/19/5-facts-about-government-debt-around-the-world/

Anyone who thinks the US is isolationist compared against China immediately as lost all credibility on the subject and has obviously zero knowledge of the Chinese political and economic systems.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m an upper middle class professional and a Democrat. For years I’ve been hearing that I should really be Republican for my own self interest. Less taxes and all that. But now this new Trump/Republican tax plan come out and guess what, it complete is not good for me.

Can someone explain?

I thought liberals wanted their taxes raised to support those in need. All talk?

Is that part in the Republican budget?

I'll pay more taxes willingly if the social safety net is strengthened, the health of the environment strongly regulated, if science is well funded, etc. is this where my increased tax contributions are going?

Your taxes does pay for all that. Money is fungible. It's idiotic to expect that the particular taxes you've paid will go to specific purposes and not others.

US is one of the most indebted countries in the world. AND there is no end in sight to the debt increase. The tax cuts for the wealthy and corporations pushed by a wealthy billionaire for his own personal benefit screws the country in the long run. This is the precise moment when US cedes control of global economy to China because US is becoming isolationist when China is ascending and will fill the vacuum left by the US.

http://www.pewresearch.org/fact-tank/2017/09/19/5-facts-about-government-debt-around-the-world/