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Where are the tax cuts?

Discussion in 'BBS Hangout: Debate & Discussion' started by Ubiquitin, Feb 8, 2017.

  1. CometsWin

    CometsWin Breaker Breaker One Nine
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    While Trump acts like a racist jackass to distract everyone, the poor are getting screwed by his tax plan. What a shock. Trump reinforces everything negative about the GOP. It's pathetic.
     
  2. NewRoxFan

    NewRoxFan Contributing Member

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  3. txtony

    txtony Member

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    LOL. It's an accident. And we now must pass it.
     
  4. Commodore

    Commodore Contributing Member

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  5. larsv8

    larsv8 Contributing Member

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    lol @ "itemizing"

    lol @ not mentioning the sunset provisions.

    lol @ "with some of the largest cuts accruing to moderate-income families with children"

    How is it possible you eat up all this bullshit?
     
  6. B-Bob

    B-Bob my celli weighs a ton
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    Well, you have to admit, the cartoon people have great names and are also quite diverse!
     
  7. NewRoxFan

    NewRoxFan Contributing Member

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    LOL... "nonpartisan". If you can't even honestly identify yourself how can you expect people to believe what you are saying?
     
  8. Major

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    Paul Ryan on Twitter:



    Tax bill will create 1 MILLION new jobs! ... at a cost of $1.5 trillion over 10 years, or just a small cost of $1.5 million per job.
     
  9. Kevooooo

    Kevooooo Member

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    Did anyone catch the Bernie Cruz tax plan debate on CNN last night?
     
  10. chrispbrown

    chrispbrown Member

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    All of those "Current Law" amounts are far above what they actually should be...

    30k = $3133
    75k = $11613


    Those are just the first two I did. I know the 80k couple will be even less than the single 75k.

    Edit: 80k couple 8892.50
     
    B-Bob likes this.
  11. Carl Herrera

    Carl Herrera Contributing Member

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  12. Rashmon

    Rashmon Contributing Member

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    Republican Senator Wants Individuals to Pay Higher Taxes if Corporate Tax Cuts Don’t Pay Off – Mother Jones


    On Tuesday morning, Sen. Bob Corker (R-Tenn.) told CNBC that Americans should automatically pay more taxes if tax cuts don’t create the economic growth Republicans are promising. To do that, Corker wants Republicans to add a trigger to the Senate tax bill that would increase taxes if it doesn’t meet revenue projections. Republicans have said their bill will pay for itself, but economists believe that’s wildly optimistic.

    Corker wants his proposed trigger to affect families, not just the businesses that would get the vast majority of Republicans’ $1.4 trillion tax cut. When a CNBC host asked whether the trigger would hit individuals or companies, Corker said, “You’ve got to make sure you’re not doing anything to take away from the certainty that businesses want to do the investments.”

    “So, in other words, taxes go up on individuals if the tax cuts to businesses don’t pay off,” the host interjected. “On both,” Corker responded.

    Corker wants the backstop because Republicans are passing the biggest tax overhaul in 30 years on a hunch. Normally, Congress’ independent scorekeepers would analyze Republicans’ claim that their tax plan will pay for itself through economic growth. “We’re kind of skipping that process,” Corker said.

    Multiple nonpartisan groups have found that the tax bill would not come close to paying for itself. All of the 42 economists recently surveyed by the University of Chicago’s Booth School of Business believe the tax bill will substantially increase the national debt. The Joint Committee on Taxation, Congress’ nonpartisan tax analyst, would likely come to the same conclusion if it had the time to fully examine the bill.

    The Senate bill already has a trigger that works in the opposite direction than the idea suggested by Corker. This trigger would give businesses an additional $120 billion in tax breaks if the bill adds more revenue than currently projected. Businesses would still get the money even if the tax bill as a whole adds hundreds of billions in debt, according to David Kamin, a tax law professor at New York University. Kamin told the Washington Post that the provision is “a one-sided bet, a one-sided giveaway to business.”

    Corker, who has been one of the President’s sharpest critics, told CNBC that he “would be thrilled” to take all of the individual cuts “directly to the incinerator,” and presumably replace them with something else. He added that he was “willing to swallow” the individual provisions to cut taxes for businesses.

    Corker has previously said he will oppose the tax bill if it adds “one penny to the deficit.” Including a trigger that raises taxes on individuals would give him a way to get out of that promise.
    ++
    Corker pulling back the curtain...

    No economist worth their salt believes the tax bill pays for itself.
     
  13. Commodore

    Commodore Contributing Member

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  14. NewRoxFan

    NewRoxFan Contributing Member

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    Curious, what is the effective corporate tax rate?
     
  15. NewRoxFan

    NewRoxFan Contributing Member

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  16. fchowd0311

    fchowd0311 Contributing Member

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    18%
     
  17. Commodore

    Commodore Contributing Member

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  18. Invisible Fan

    Invisible Fan Insider Newsletter™ 2X Diamond Member

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    We used to talk about debt reduction but hey, if I get my fat paycheck return for the next five years, I won't need to talk about it until then AMIRITE??!?!

    That's called Privatizing the Gains and Socializing the Losses.

    Can we call this a bailout for companies that don't even need them??
     
  19. NewRoxFan

    NewRoxFan Contributing Member

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    Hmm... believe the non-partisan CBO analysis, or a right wing radio talk show host?
     
  20. Sweet Lou 4 2

    Sweet Lou 4 2 Contributing Member
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    They don't care about facts, they just care about their side winning at any cost.

    I mean, we're talking about adding trillions to the deficit right after the Republican party complained about the deficit under Obama. So doesn't that tell you that they really only care about Republicans winning and not anything else. The deficit, taxes, trade, nukes, heath care - nothing matters so long as it's a Republican bill.
     

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