The GOP health care plans has been a bust…..and the GOP needs something that that they can point to and say that they have a win this session of the Congress……taxes is the basket they are putting all their apples in…..
So far no matter how they try to sale their plan it still equates to rich get breaks and poor get the shaft….
Yet another analysis shows how bad the middle class will be screwed…..again……
Critics of the Republican tax plan say it offers a crystal-clear view of which Americans matter to the Trump administration and the Party in control of Congress—and which don’t. Despite an aggressive push to portray the proposal as a tax cut for middle-class Americans, according to a New York Times analysis, millions of middle-income families would pay more in taxes immediately—and many more would see their tax bills rise over time.
“The GOP tax plan is a simple political statement about who matters more in American democracy: the heirs to hedge fund fortunes or everyone else in the country,” wrote Zach Carter in the Huffington Post on Monday. “Trump and the Republicans have chosen the dynasts.”
But now the House and the Senate each have dueling plans……
Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party. Their bill would leave the prized mortgage interest deduction untouched for homeowners in a concession to the powerful real estate lobby but would ignore a House compromise on the hot-button issue of state and local tax deductions. On the other side of the Capitol, the House Ways and Means Committee approved its own version of the legislation on a party-line 24-16 vote. Changing the tax code is President Trump’s top priority and a goal many Republicans believe has grown even more urgent in the wake of election losses on Tuesday that displayed an energized Democratic electorate, the AP reports.
Yet as the Senate Finance Committee unveiled its bill, a few stark differences emerged with the version approved by the House tax-writing committee, underscoring the challenges ahead in getting both chambers to agree on the complex and far-reaching legislation that would affect nearly every American. The Senate bill would fully repeal the state and local deduction claimed by many taxpayers, an idea that has drawn vigorous opposition from House Republicans in New York and New Jersey and resulted in a compromise in the House version of the bill that would allow property taxes to be deducted up to $10,000. On the other hand, the House bill would cap the mortgage interest deduction, an idea that caused intense blowback from the real estate lobby, but the Senate tax measure would leave it unchanged. Click for more on the similarities and differences between the House and Senate bills.
Please some one tell us what would a real tax reform look like…….
No matter our politics, most Americans have a beef with taxes. And it’s no wonder.
Working class Americans pay a much greater share of their income than the wealthiest Americans, who get away with exploiting tax loopholes and paying less than their fair share to support public projects and government programs.
Our system is rigged to favor the richest, so tax reform is key to un-rigging the economy. But the latest GOP tax plan is a slimy wet kiss for the wealthiest Americans.
It doesn’t even try to propose reforms — it’s literally just a giant giveaway to millionaires, billionaires, and wealthy corporations. The non-partisan Tax Policy Center estimates that 80 percent of the benefits in the new plan will go to the richest 1 percent, while nearly one in three working families would end up paying more.
Real tax reform is possible but the GOP feels they have to treat the rich and corporations as if they make up the bulk of the taxpayers……when we start treating all taxpayers the same then we can have real tax reform that will make the country strong again.