The Trump “Tax Reform” Bill

Tax reform……(pause here for raucous laughter…..) It is NOT tax reform it is tax cuts for the rich….selling it anyway you choose it is tax cuts for the rich….working people are just a slogan that will see NOTHING substantial out of these tax cuts.  And yet they buy the manure being spread by Ryan, McConnell and the rest of the ilk in the GOP…..

Republicans finally unveiled their tax reform legislation Thursday with a draft bill that would dramatically cut taxes for corporations and the wealthy.

GOP legislators generally stuck to their already released framework for the legislation: lowering individual and corporate tax rates while eliminating most individual deductions. But they also showed a willingness to jettison major aspects of their plan in order to get a bill through Congress.

https://www.huffingtonpost.com/entry/republican-tax-bill_us_59fb289fe4b0b0c7fa387e8f

This GOP bill is repugnant because it is lying to the hard working people they are pretending to protect…….

It is once again “plug your nose week” on Capitol Hill as House Republicans have released their tax bill with sweeping odious overhauls that steal away benefits for the poor and middle-class to pay for massive tax cuts for the most wealthy and largest corporations.

It is once again plug your nose week on Capitol Hill as House Republicans have released their tax bill with sweeping odious overhauls that steal away benefits for the poor and middle-class to pay for massive tax cuts for the most wealthy and largest corporations.

Senate Minority Leader Chuck Schumer (D-NY) declared, “The bill’s like a dead fish: The more it hangs out in the sunlight, the stinkier it gets. The more people learn about this bill, the less they’re going to like it.” This was after learning of a quiet revision on Friday by Rep. Kevin Brady (R-TX) that, “reduces the value of the tax cuts for ordinary Americans by $89 billion over 10 years compared with the legislation released with fanfare Thursday.”

In a press conference House Democratic Leader Nancy Pelosi blasted Republicans following the unveiling of their tax bill, “Get real. Don’t tell the middle class this is for them. You’ve set a banquet for the wealthy and corporate America and thrown a few crumbs to the middle class. It’s really making suckers of the American people.”

(politicususa,com)

You really want to know who this tax reform will benefit?

President Trump’s inner-circle may be among the biggest beneficiaries of his proposed tax bill that would allow multinational corporations to bring massive offshore holdings back to the mainland at a one-time low-rate.

Several Trump officials — including key writers of the proposed tax reform bill being sped through Congress — have their own investments or were involved in the decision to keep company profits sheltered overseas, according to a report from the Guardian, which was part of an international coalition of journalists who obtained leaked documents called the Paradise Papers.

Among the various advisors and cabinet members in Trump’s administration identified in the reporting are:

https://thinkprogress.org/gop-tax-reform-offshore-holdings-aae3b60f62ec/

Rich people benefit and hard working Americans get the shaft as always when the GOP has an idea on “Tax Reform”…..why do we allow this bullshit to happen ?

Update–After writing this draft word has come down that the tax bill has a compromise…..

Congressional Republicans released their proposal for tax reform on Nov. 2, and it included major provisions with implications for every American taxpayer.

Changes to individual and corporate tax rates, the boosting of the standard deduction, and the elimination of many popular itemized deductions have garnered a lot of attention from policymakers. Yet by the time most people read about these provisions, there’s a risk that they’ll be out of date, because lawmakers are making further revisions to the proposal at breakneck speed in order to keep proponents onboard and boost the chance of eventual passage.

https://www.usatoday.com/story/money/taxes/2017/11/07/forget-the-original-republican-tax-plan-its-already-changed/107416020/

But wait…….ther’s more……

“In the world of conservative thought, few issues are as popular as tax reform. It’s an accepted truth, by nearly anyone on the right, that the tax code is too complicated for an average citizen to understand and too laden with loopholes to be fair. Beyond the structure of the code itself it’s a fairly standard conservative view that taxes themselves are unjust, that government should not be confiscating a large chunk of our hard-earned pay and they certainly shouldn’t then be helping themselves to additional taxes after that first take. In a perfect conservative world there would either be no taxes at all or a tax which would be simple to understand, a flat tax or the Fair Tax. But we don’t live in that perfect conservative world and so we recognize that tax policy, while still being burdensome, complicated and unfair, is used to achieve various societal objectives.” (11/07/17)

http://www.foxnews.com/opinion/2017/11/07/im-conservative-and-hate-republican-tax-plan.html

Note:  I apologize for posting the urls but since WP has eliminated the “Press This” it is the best I can do to get the info to my reader….sorry for the inconvenience……chuq

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3 thoughts on “The Trump “Tax Reform” Bill

  1. would allow multinational corporations to bring massive offshore holdings back to the mainland at a one-time low-rate.

    Are they stupid ? Nothing wrong here – THIS IS WONDERFUL !

    TAX CUT FOR THE RICH ? IF YOU ARE GOING TO HAVE A TAX CUT , YOU CAN CUT ONLY FOR THE PEOPLE THAT PAY TAXES IN THE FIRST PLACE AND THAT RICH 1 – 5 – % PERCENT OF POPULATION PAYS 78% OF TAXES. 50% of population pays no income tax (or get refund for all that was taken from pay check). How can they get a tax cut ?

    1. That money will not come back…that is a dream….all workers pay taxes and if they get a refund then they are doing what the wealthy do….using the tax code to their benefit….no one pisses and moans when the rich do it just the working stiffs…..chuq

  2. It is much the same here. Ordinary workers pay at least 20% tax, if not more, huge companies making billions pay less than 10%. The ‘trickle-down’ theory is just propaganda. Shameful.
    Best wishes, Pete.

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