Senate Unveils Budget Blueprint Allowing $1.5 Trillion in Tax Cuts

NY Times ^ | Sept. 29, 2017 | THOMAS KAPLAN and ALAN RAPPEPORT

[Innovative]

The Senate Budget Committee unveiled a 2018 budget blueprint on Friday that would open the door for a $1.5 trillion tax cut, even as an independent analysis concluded that the plan as offered would far exceed that price tag and overwhelmingly benefit corporations and the rich.

The budget resolution could also pave the way to opening the Arctic National Wildlife Refuge in Alaska to oil drilling, a hot-button Republican proposal that has languished for decades.

[Innovative]

So it benefits everyone, but more those who pay a lot of taxes. Sounds fair to me.

[Blood of Tyrants]

Corporations DON’T PAY TAXES! They pass them on as a cost of doing business.

[rktman]

Dementocrats: "How are we gonna pay for that?" 💸🍿🍻

[hoosiermama]

Precisely

[vikingd00d]

>>even as an independent analysis concluded that the plan as offered would far exceed that price tag and overwhelmingly benefit corporations and the rich.

They SAY it’s “independent”, yet if you read down in the article, they are referring to a joint venture of the Urban Institute and the Brookings institution, both of whom have been categorized as ‘liberal’ even by the NYT.

[wastedyears]

I don’t understand the “how are we going to pay for this” thing.

[Fiddlstix]

YES!

Nailed It !

[DIRTYSECRET]

In 1 year? Yeah, right.

[kaehurowing]

Something new for the Turtle to screw up.

[ichabod1]

That’s true but they have to react to the tax as if they did. They can pass the added cost along if the market will bear it but if it won’t they have to eat it.

[Davy Crocket]

I don’t understand the “how are we going to pay for this” thing.

Me neither.. Tax cuts pay for themselves as long as Congress don’t increase spending.

[ichabod1]

It assumes they’re “gifting” us our own money.

[Davy Crocket]

However Berkshire Hathaway paid $9.2 billion in taxes 2016, Walmart paid $6.2 billion, Apple paid $15.8 billion..

https://www.forbes.com/pictures/58f3a0924bbe6f1aff45eac0/general-motors-—24-billi/#5efcd26f31eb

[raiderboy]

I want to know that it is less revenue. I want to know that it is far less spending. If they take your deductions — THAT IS A TAX INCREASE!!We are not stupid!

[Blood of Tyrants]

That just means they charged their customers that much more, plus untold millions in accounting costs.

[Blood of Tyrants]

Depends. Trump is talking about doubling the standard deduction and lowering the rate while eliminating some deductions and eliminating the AMT. Most will see it as a cut in taxes. And corporations will charge less for their products as they lower overhead.

[rktman]

Dems number one question. Even if no one has to pay for "it", by putting the question out there makes people suspicious and wary. Lie or not.🤔💸

[DoughtyOne]

...even as an independent analysis concluded that the plan as offered would far exceed that price tag and overwhelmingly benefit corporations and the rich.

Meanwhile back at the DNC...

Somebody pull stock card 10189a.

Where do you think we got that statement

Oh, never-mind,... good job.

[Mr. K]

yeah... 10 years out, right?

We’ve played this game before...

[urbanpovertylawcenter]

If NYT is against, count me in.