How about we eliminate COINgre$$ ? Just think of all the money we could save. :-)
In CA, NY, NJ and IL there are 34 Republican House members.
None will vote for this bill as it would be suicide for them.
Their core constituency gets hammered.
Countdown til RINO sniping begins...
a good start - the corporate side will generate millions of good middle class jobs.
Still no detail on the width of the brackets. WTF?
They need to cut spending.
Instead they’re going with the old magic trick of a tax relief bill that give us higher taxes.
“were floated to help pay for the bill”
if more people understood how the budget process worked, they could not play these games.
There is NO Relationship between Spending and Taxes. ALL Taxes Received are used to pay off PREVIOUSLY Issued Treasury Bills. There is NO Discussion of Last Years tax receipts EVER in the Budget Process, it is Irrelevant.
100% of ALL SPENDING at the Federal Level comes from Freshly BORROWED Money from the Fed.
Tax Receipts from the previous year are never and have Never been part of the equation regarding the Budget.
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Carried Interest? No, that isn’t an option? Can’t be discussed? Why? I wonder...
My question about the doubling of the “standard deduction of $12,000” is: Does this mean that each person claimed as a dependent is now worth $24,000 in being deducted from gross income when itemizing, or that it is only for those who do not itemize? Or is the $24,000 for two people instead of $12,000 whether or not one is itemizing?
Why should the rest of the country subsidize these states that seem to believe that they do not have to follow immigration rules and want us to pay for all the freebies they give away.
Let them work on their state politicians to reduce their tax burdens by dropping some of the stupid things their taxes are used for.
The bill is bull spit! It rewards those who don’t pay taxes in the first place. Brady, a Texan takes good care of his folks. This bill will cripple home construction and cut jobs. There is no break for the middle class.
My taxes would drop ~$1,750 next year with this.
History repeats, over and over and over again.
Oh, and the Jews will get the blame again. Gotta have a scape goat
I think I’ll wait until publication and not some fake “insider information” story to tell me what’s in the bill.
Or, "women and children hit hardest?"
Will Chuck and Nancy opt for hankies, or Kleenex?
Questions...questions...
Then limit school taxes per house to $10,000. I'm sick of outrageous state taxes for social programs and skyrocketing school taxes in New York. I can only hope this enrages enough New Yorkers to finally take on the corrupt and expensive public school systems across the state. I may become very active in this movement as it's getting ridiculous.
The deductibility of home mortgage interest is primarily a subsidy to mortgage lenders and realtors, who work on commission and who benefit from higher housing prices. For homebuyers, it inflates the initial price. Homebuyers of course eventually become home sellers and stand to recoup the artificial premium they paid at the front end, but over the life of the mortgage, it is essentially a wash. (While mortgage lenders and realtors cash in at both ends ....) Of course, most people don't understand this.
The standard deduction is nearly doubled, while the child tax credit is increased from $1,000 to $1,600. The bill also creates a $300 credit for expenses related to the care of parents and non-child dependents, and it preserves the child and dependent care credit and the earned income tax credit.
The bill also repeals the alternative minimum tax. The amount of assets exempt from the estate tax would initially be doubled, and the tax would be repealed after six years.
The corporate tax rate would be lowered from 35 percent to 20 percent. The bill would also lower the top rate for non-corporate “pass-through” businesses from 39.6 percent to 25 percent.
Nice.
If you are not cutting the Tax Code from 9000 pages to less then 300 pages you are not doing anything constructive!