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Thread: Senate Republicans add back AMT to generate revenue for priorities

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    Veteran Member Chief's Avatar
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    Senate Republicans add back AMT to generate revenue for priorities

    https://www.msn.com/en-us/news/polit...ies/ar-BBGehot

    Originally, the Senate bill proposed to repeal the corporate AMT, but Senate Republicans added it back in at the last minute to generate revenue for other priorities. The Wall Street Journal's Richard Rubin, who first noticed the change, noted that by keeping the corporate AMT, the bill would undermine key credits that help drive innovation.
    Reading this I was thinking... how is it that the GOP put a tax back in because they need money for something else, when lowering taxes is supposed to increase the revenue?

    Then after that I was like wait a minute... what sort of stupid tax hostage is innovation? Are we really thinking that businesses won't innovate without a tax credit? What happened to the days when competition drove innovation?
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    Moderator HayJenn's Avatar
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    Quote Originally Posted by Chief View Post
    https://www.msn.com/en-us/news/polit...ies/ar-BBGehot



    Reading this I was thinking... how is it that the GOP put a tax back in because they need money for something else, when lowering taxes is supposed to increase the revenue?

    Then after that I was like wait a minute... what sort of stupid tax hostage is innovation? Are we really thinking that businesses won't innovate without a tax credit? What happened to the days when competition drove innovation?
    Well considering there is no way anyone in the Senate had time to read a 500 page bill in less than two hours.

    Sounds like something one of the 6,000 lobbyist's who worked on this bill slipped in at the last minute???

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    Veteran Member bmanmcfly's Avatar
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    "We have to pass a bill to be able to read it."

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    Moderator HayJenn's Avatar
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    Quote Originally Posted by bmanmcfly View Post
    "We have to pass a bill to be able to read it."
    So predictable and nice try.


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    Veteran Member bmanmcfly's Avatar
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    Quote Originally Posted by HayJenn View Post
    So predictable and nice try.

    Ya, creating a scam that you need to fool a lot of people will take a while, where signing off a scam goes a bit quicker.

    Besides, never heard you complain when it was your people... Wait, no, you would have been cheering for the scam as one of the people gruber described as the only reason they could get the law passed.

    Sucks when any complaint makes you a hypocrite, eh?

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    Veteran Member Chief's Avatar
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    Quote Originally Posted by bmanmcfly View Post
    Ya, creating a scam that you need to fool a lot of people will take a while, where signing off a scam goes a bit quicker.

    Besides, never heard you complain when it was your people... Wait, no, you would have been cheering for the scam as one of the people gruber described as the only reason they could get the law passed.

    Sucks when any complaint makes you a hypocrite, eh?
    What in the world does that have to do with the tax bill?
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    Moderator HayJenn's Avatar
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    Quote Originally Posted by bmanmcfly View Post
    Ya, creating a scam that you need to fool a lot of people will take a while, where signing off a scam goes a bit quicker.

    Besides, never heard you complain when it was your people... Wait, no, you would have been cheering for the scam as one of the people gruber described as the only reason they could get the law passed.

    Sucks when any complaint makes you a hypocrite, eh?
    Not on the topic but it's obvious the ACA had multiple hearings, massive town hall meetings and even adopted several GOP amendments.

    So trying to compare the two is ridiculous.
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    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Chief View Post
    What in the world does that have to do with the tax bill?
    Just a Right Wing Canadian trying to show his neo-con chops here in the states...he gets lonely up there being a member of a minuscule tiny fringe in Canada...

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    Moderator HayJenn's Avatar
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    From the link

    The move has drawn a massive amount of blowback from business groups, and opponents of the bill decried the 11th-hour change as evidence of unintended consequences that come with the rushed process.


    The U.S. Chamber of Commerce said that maintaining the corporate AMT undermined the bill's ability to generate economic growth.

    "Retaining the AMT in reform is even more harmful than it is in its present form — among other things, it eviscerates the impact of certain pro-growth policies like the R&D tax credit and exacerbates the international anti-abuse rules," wrote Carolina Harris, chief tax counsel at the Chamber. "This cannot be the intended impact from a Congress who has worked for years to enact a more globally competitive tax code."

    Seems to me the US Chamber of Commerce is last people the GOP want to piss off.

    So I'm sticking with my lobbyist guess.

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    Veteran Member bmanmcfly's Avatar
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    Quote Originally Posted by HayJenn View Post
    Not on the topic but it's obvious the ACA had multiple hearings, massive town hall meetings and even adopted several GOP amendments.

    So trying to compare the two is ridiculous.
    Then why did you?

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