Posted on 09/28/2017 10:35:05 AM PDT by davikkm
The conservative House Freedom Caucus endorsed the Republican Party’s framework for tax reform on Wednesday. Rep. Mark Meadows, R-N.C., released a statement from the group announcing their support for the plan. Meadows told reporters on Tuesday that he’d draw a “red line” at a 20 percent corporate rate, and would oppose any bill that went higher.
“This is a once-in-a-generation opportunity” to offer “historic tax relief to the American people,” President Donald Trump said during a speech in Indianapolis on Wednesday.
“I’ve been waiting for this for a long time.”
“My plan is for the working people and my plan is for jobs,” he said before leaving Washington for Indiana. “I think there’s very little benefit for people of wealth.”
(Excerpt) Read more at investmentwatchblog.com ...
““This is a once-in-a-generation opportunity” to offer “historic tax relief to the American people,”
That’s a damnable lie!!!!!!!!!!!!!!!!!!
Everyone who itemizes will see a tax increase.
In 2015 that was over 40 million people.
Mariner, what if this plan included an increase in the tax-deferred retirement account ceiling, let’s say doubling the cap? Would that make this more palatable?
How can you be for a law that has never been written. Where is the law? where are the public hearings? Why do we not see congressional budget scoring? why not follow regular order? if you drop a bracket but take all deductions from the people— taxes GO UP!! I am very skeptical. Let’s see it.
It’s going to have to make the rounds before seeing what’s actually in the cards - it’s early yet.
Have a feeling keeping 0care will negate any positives for the middle class.
The poor will always get the government transfer payments.
The wealthy will always get the loopholes and exemptions.
No, not for a man over 60 making over $100k.
No matter what state, my tax burden goes up.
Substantially.
And I will never support that. Notwithstanding any other factor or element.
Nor would you.
people or returns ?
I was trying to calculate this myself but hard knowing where the new brackets will be. Seems like a family of $60 to $80,000 will see a break even or peanuts, like a couple hundred back. A family of $200,000 will be laughing to the bank.
The question is a tax cut for the rich worth it to get corporate tax reduced? Bitterly, I think it might be.
However the GOPe will screw up the opportunity.
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