U.S. Senate grapples with tax cut plan's impact on federal deficit

Oct 2013
25,644
21,800
USA
#1
So to fix the deficit the tax bill creates they are considering RAISING TAXES! Hahahaha

Sorry but I can't stop laughing...

"WASHINGTON — U.S. Senate Republicans will grapple on Friday with the possibility of adding a tax increase to sweeping legislation meant to cut taxes on businesses and individuals, aiming to win support from fiscal conservatives worried about the bill’s impact on the federal deficit."

U.S. Senate grapples with tax cut plan's impact on federal deficit
 
Likes: 1 person
Oct 2013
25,644
21,800
USA
#3
Arent they just considering not lowering the corporate tax rate to 20% and maybe 22 or 24%?
At this point I don't know but what I'd keep an eye on is whether they do it in the form of a tax raise which may only incidentally impact the percentages because remember that the middle class tax cut goes away in the 2020's. If it is in the form of a tax raise, when the tax cut leaves the middle class would be back to what they pay today plus the raised tax amount. That may or may not be the case but if it is, everyone but the wealthy whose tax cut is permanent will be paying more taxes. Until it is explained further we'll just have to watch.
 
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Likes: 1 person

Blueneck

Former Staff
Jun 2007
52,992
39,077
Ohio
#4
They aren't "grappling" with it. They're just trying to find a gimmick to give the appearance of them giving a shit about the debt until another Democratic administration comes along and they can blame everything they scewed up on them.

Where is the Tea Party now?

 
Likes: 4 people
Mar 2012
53,663
35,535
New Hampshire
#5
They aren't "grappling" with it. They're just trying to find a gimmick to give the appearance of them giving a shit about the debt until another Democratic administration comes along and they can blame everything they scewed up on them.

Where is the Tea Party now?

Yea if you notice most of it kicks in in 2020.
 
Likes: 2 people
Sep 2012
3,607
3,471
California
#8
The bill solves no problem, it merely transfers more wealth from the bottom to the top and from blue states to red states. Even if they pass it, the next Congress will repeal it. There is no way this bill or anything like it will stand for the 10 year life span it purports to cover.
 
Likes: 4 people
Mar 2012
53,663
35,535
New Hampshire
#9
The bill solves no problem, it merely transfers more wealth from the bottom to the top and from blue states to red states. Even if they pass it, the next Congress will repeal it. There is no way this bill or anything like it will stand for the 10 year life span it purports to cover.
Well I do think at least part of the goal is to reward red states and areas with this so they keep voting red. That way it could ensure they stay in power. Think of it as economic gerrymandering.
 
Likes: 3 people

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