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To: RummyChick
So I guess health insurance deduction for small business owners is out

I suppose so. The House bill also eliminates the deduction for medical expenses. It also eliminates deductions for adoptions.

What has happened here is this: Congress wants to give all of the goodies to the corporations and the donor class. They are the only winners here.

In order to slash the corporate rate from 35% to 20%, Congress had to go through the Tax Deduction Sofa, looking for loose change.

As another Freeper pointed out, this isn't a "Tax Cut" bill. It is a Deduction Cut bill that is a massive de facto tax increase on millions of Americans. Even Mitch "I Got Thrown Out Of the US Army For Sexually Assaulting a Fellow Soldier" McConnell had to admit as much - and now the other Senators and Congressmen are angry with him.

17 posted on 11/12/2017 5:01:18 AM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: SkyPilot

Not being able to deduct nursing home expense is a real killer. I guess state medicaid and federal govt can fight over scraps


51 posted on 11/12/2017 6:27:56 AM PST by RummyChick (I have no inside sources, media sources, or federal government employee sources. NONE)
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