GOP is smiling with joy for they made their rich clients happy this holiday season….
For a couple weeks now the GOP has been running around to try and get the votes that need to shove a tax plan up the butts of most Americans……even Fearless Fosdick has been telling his adoring mobs what a good deal this bill will be for most of us (will explain that pile of manure a little later in this post)…..even the so-called “mavericks of Flake, Collins, Graham and McCain have decided that party politics is more important than the people they serve…..who am I kidding? They serve their rich masters.
“We have the votes.” So declared Mitch McConnell Friday on the GOP’s bid to push a $1.4 trillion tax bill through the Senate. The final vote in the chamber is expected to come later Friday. The Senate majority leader’s comment came soon after the No. 2 Senate GOP leader, John Cornyn of Texas, said the same, per the AP. With the party controlling the Senate 52-48 and Democrats uniformly opposed, Republicans need 50 votes to win approval; VP Pence would break a tie. The measure’s momentum was boosted Friday when Sen. Ron Johnson said he’d vote for it after leaders agreed to his demand to make tax breaks more generous for millions of businesses. Sen. Steve Daines also backed the legislation after winning an increase in the business income deduction from 17.4% to 20%.
The bill seemed to be sailing toward passage Thursday, until a report out of the nonpartisan Joint Committee on Taxation estimated the package would produce budget deficits totaling $1 trillion over the next 10 years. Advocates say the measure’s tax cuts will spark enough economic growth to pay for the lowered levies. The projection left the votes of several GOP senators in doubt, including Tennessee’s Bob Corker and Arizona’s Jeff Flake; Maine’s Susan Collins is also up in the air. Cornyn said leaders are still working on any holdouts. Senate passage would push Congress a step closer to the first rewrite of the nation’s tax code in 31 years. Unlike the House tax bill recently passed, the Senate measure would end the Obama requirement that people pay a tax penalty if they don’t buy health insurance.
Of course the boot lickers of Fearless Fosdick will be in awe of this bill and all it does for us mere mortals but most of it is fracking lies!
As Senate Republicans proclaimed on Friday that they have the votes to pass a $1.5 trillion tax bill whose contents have been kept secret from virtually everyone except corporate lobbyists, progressive lawmakers and activists are once more warning that the GOP is planning to use the massive deficit hole its plan would create to justify taking a sledgehammer to Medicare, Medicaid, and Social Security—a ploy one group has termed the “tax two-step.”
Indivisible released a video explaining the tactic, which has been utilized by Republicans for decades—but which might now be deployed on a scale never seen.
Forget campaign promises and White House propaganda about prosperity via tax cuts. The GOP is poised to show every American who isn’t wealthy that it couldn’t care less about their daily economic struggles.
That message comes in the $1.5 trillion tax bill that is on the verge of Senate passage, following a slightly different version the House passed a few weeks ago. Fiscally, the legislation gives temporary minimal tax cuts to the middle-class—on the order of 1 percent or so—while giving increasingly larger and permanent cuts to corporations and wealthy Americans, whose financial portfolios are not commonplace.
Oh there is so much more……
Republicans plan to pass a bill this week to allow churches to engage in political activity. And they plan to pass a bill that limits state spending on education. And a bill that caps state health care. And a bill that cripples public transportation. And a bill that will end the individual mandate on healthcare and drive up insurance prices. And a bill that would halt abortions.
And, incidentally, they plan to pass a bill that gifts trillions to millionaires and corporations while driving up both costs and taxes for the working and middle class. Because all of this, and more, is rolled into the Republican “tax bill.”
And there is the endless use of the term “trigger” when this bill is talked about….would you like to know what that is all about? Good. ‘Cause here it is……
As Senate Republicans barrel toward a tax vote, lawmakers worried about the national debt are in search of some kind of last-minute fix — except no one knows what that fix will be.
The idea is still in a conceptual stage: If the rosy deficit forecasts from this tax bill prove to be inaccurate, and the economy does not grow as fast as Republican leaders are saying it will, then they want a trigger mechanism in place to in some way address that.
Matt Yglesias explained how that would work in theory, but “in practice, the economic impact of some kind of backstop provision is going to hinge on the implementation details.” Those details are far from final.
Now they will hammer out the final bill between the two houses….God only knows how much more screwing will come out of that session.
But this should tell you all you need to know about your new “tax cut” bill……
Republicans have already made few bones about the fact that this bill was basically a payoff to their wealthy donors, but Iowa Sen. Chuck Grassley took things to another level when he openly displayed the contempt for ordinary Americans that is the beating heart of his party’s politics.
In an interview with the Des Moines Register, Grassley said that people who “invest” are more deserving of tax cuts because they don’t waste their money on frivolities:
“I think not having the estate tax recognizes the people that are investing,” Grassley said, “as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”
Congrats! If this is signed into law, and it will, then the Congress has just fucked the entire nation that has to work for a living….this will go down as one of the biggest rip-offs in American history.
And YOU VOTED for it…..now live with it!