The biggest reform in what I would propose would be to make all non-tax paying entities subject to tax. That is never discussed and never factored in. Once those numbers are calculated, there theoretically could be a thresh hold for individuals. The burden would be lessoned from all of us now carrying the whole thing.
Lol, c'mon he would cry a river if he thought there was even a 5% chance that progressive taxation and and a convoluted government creation like the tax code was being neutered through simplification.
If you had to pick 1 person in politics to be President right now, it would be Rand Paul then, right?
If you had to pick 1 person in politics to be President right now, it would be Rand Paul then, right?
why do people who know nothing about taxes cite biased lying sources that have never told the truth in their political life?
PS: a flat tax would be a regressive tax, the opposite outcome of what one claims to espouse
PS: a flat tax would be a regressive tax, the opposite outcome of what one claims to espouse
7 more years.....Enjoy cheersgif
This shows what a disgrace this is, but they'll pay a heavy price for sucking up to the top 1% at the expense of 99%. 479 pages with handwritten notes, sent at the last minute, with no hearings. Unreal...
https://www.vox.com/policy-and-politics/2017/12/1/16726234/handwritten-republican-tax-bill
[h=1]Republicans are handwriting their tax bill at the last minute[/h]
[h=2]The final hours of the vote are chaotic.[/h] Updated by Tara Golshan Dec 1, 2017, 7:30pm EST
Senate Republicans are down to the wire on their tax bill — so much so that the legislation, which would massively overhaul the nation’s tax code, has large portions that are handwritten.
Mere hours ahead of the Senate’s tax vote, Republicans have yet to release an official copy of the tax bill. The only legislative text that has been internally circulated by Senate staff and tax lobbyists, and made public first by Bloomberg reporter Sahil Kapur, includes large swaths of policy changes in handwriting, filled between the lines and in the margins of a previous copy.
The handwritten policy changes include changes to the language around the expansion of the child tax credit and how to tax pass-through companies, like LLCs or partnerships, that are transitioning into corporations that are taxed at a different rate. The handwritten edits also cross out an entire segment of the bill giving a tax deduction for tuition payments toward some qualified religious instruction.
As this handwritten copy of the tax bill surfaced, Sens. Dick Durbin (D-IL) and Ron Wyden (D-OR), the top Democrat on the tax-writing Finance Committee, took to the Senate floor to decry the Republicans’ rushed, secret, and last-minute process.
Durbin asked to submit the legislative text with handwritten alteration to the Senate record as "artwork." Sen. John Tester (D-MT) also released a video highlighting the handwritten portions of the bill, sarcastically saying this was “your government at work.”
Wyden seconded Durbin’s call, saying the Republicans’ last-minute partisan process on the tax bill was “outrageous,” and added that the text should be in the Senate record so the “American people can get a sense of the kind of flimflam that’s going on here.”
In all, the Senate’s tax plan — a $1.4 trillion tax cut — permanently cuts the corporate tax rate from 35 percent to 20 percent, repeals Obamacare’s individual mandate, estimated to leave 13 million fewer insured over the next decade, and lowers tax rates for most Americans until 2026, overwhelmingly advantaging the country’s wealthiest.
The bill, which was pieced together overnight the day before the vote, also alters the state and local tax deduction — completely repealing the income tax deduction and capping the property tax deduction at $10,000 — a last-minute addition to win over Sen. Susan Collins (R-ME). It also gives a 23 percent deduction to pass-through businesses, which are companies organized as sole proprietorships, partnerships, LLCs, or S corporations that don’t pay the corporate income tax, a demand from Sens. Ron Johnson (WI) and Steve Daines (MT).
The final version of the bill has not had a public hearing, was largely crafted behind closed doors, and was released just ahead of the final vote.
https://www.vox.com/policy-and-politics/2017/12/1/16726234/handwritten-republican-tax-bill
[h=1]Republicans are handwriting their tax bill at the last minute[/h]
[h=2]The final hours of the vote are chaotic.[/h] Updated by Tara Golshan Dec 1, 2017, 7:30pm EST
Senate Republicans are down to the wire on their tax bill — so much so that the legislation, which would massively overhaul the nation’s tax code, has large portions that are handwritten.
Mere hours ahead of the Senate’s tax vote, Republicans have yet to release an official copy of the tax bill. The only legislative text that has been internally circulated by Senate staff and tax lobbyists, and made public first by Bloomberg reporter Sahil Kapur, includes large swaths of policy changes in handwriting, filled between the lines and in the margins of a previous copy.
The handwritten policy changes include changes to the language around the expansion of the child tax credit and how to tax pass-through companies, like LLCs or partnerships, that are transitioning into corporations that are taxed at a different rate. The handwritten edits also cross out an entire segment of the bill giving a tax deduction for tuition payments toward some qualified religious instruction.
As this handwritten copy of the tax bill surfaced, Sens. Dick Durbin (D-IL) and Ron Wyden (D-OR), the top Democrat on the tax-writing Finance Committee, took to the Senate floor to decry the Republicans’ rushed, secret, and last-minute process.
Durbin asked to submit the legislative text with handwritten alteration to the Senate record as "artwork." Sen. John Tester (D-MT) also released a video highlighting the handwritten portions of the bill, sarcastically saying this was “your government at work.”
Wyden seconded Durbin’s call, saying the Republicans’ last-minute partisan process on the tax bill was “outrageous,” and added that the text should be in the Senate record so the “American people can get a sense of the kind of flimflam that’s going on here.”
In all, the Senate’s tax plan — a $1.4 trillion tax cut — permanently cuts the corporate tax rate from 35 percent to 20 percent, repeals Obamacare’s individual mandate, estimated to leave 13 million fewer insured over the next decade, and lowers tax rates for most Americans until 2026, overwhelmingly advantaging the country’s wealthiest.
The bill, which was pieced together overnight the day before the vote, also alters the state and local tax deduction — completely repealing the income tax deduction and capping the property tax deduction at $10,000 — a last-minute addition to win over Sen. Susan Collins (R-ME). It also gives a 23 percent deduction to pass-through businesses, which are companies organized as sole proprietorships, partnerships, LLCs, or S corporations that don’t pay the corporate income tax, a demand from Sens. Ron Johnson (WI) and Steve Daines (MT).
The final version of the bill has not had a public hearing, was largely crafted behind closed doors, and was released just ahead of the final vote.
The problem I have with this tax cut is it's not deep enough.
I've seen estimates of average savings of $1200 to $1600. That's
chump change IMO. Is $100 to $130 a month going to change anyone's
life style? I think not. Unless we're taking a minimum of a $1000 a
month no one will even notice.
The U.S. government's total revenue is estimated to be $3.654 trillion
for fiscal year 2018. That's the most recent forecast from the Office
of Management and Budget for October 1, 2017 through September 30, 2018.
(Source: "FY2018 Budget. Table S-4," Office of Management and Budget, May 23, 2018.)
And yet we have to borrow just to stay afloat. WTF is wrong with that picture.
So to summarize my opinion of this great tax cut, big fucking whoop!
I've seen estimates of average savings of $1200 to $1600. That's
chump change IMO. Is $100 to $130 a month going to change anyone's
life style? I think not. Unless we're taking a minimum of a $1000 a
month no one will even notice.
The U.S. government's total revenue is estimated to be $3.654 trillion
for fiscal year 2018. That's the most recent forecast from the Office
of Management and Budget for October 1, 2017 through September 30, 2018.
(Source: "FY2018 Budget. Table S-4," Office of Management and Budget, May 23, 2018.)
And yet we have to borrow just to stay afloat. WTF is wrong with that picture.
So to summarize my opinion of this great tax cut, big fucking whoop!
