Posted on 11/17/2017 6:56:41 AM PST by Mariner
Oh good. This has all just been a great big misunderstanding. Can you do me a favor? Can you call Paul Ryan’s office and tell him he doesn’t need to increase taxes on millions in the middle class so that the corporations can get a tax rate cut from 35% to 20%? Thanks very much.
“WASHINGTON (Reuters) - From Pataskala, Ohio, to Conroe, Texas, local government leaders worry that if Republican tax-overhaul plans moving through the U.S. Congress become law, it will be harder for them to pave streets, put out fires, fight crime and pay teachers.”
Here we go. The conservatives have started something the taxpayers may need, so the libs try to demonize it.
The main goal of the House’s “Tax Cut and Jobs Act” is to lower taxes on companies in an effort to make them more competitive and discourage them from moving abroad. The bill reduces the corporate tax rate from 35 percent to 20 percent and the rate for pass-through businesses down to 25 percent (with some restrictions). Many families would also pay less.
This leads to really stupid statements like Emily Brock, a director at the Government Finance Officers Association, said if SALT deductions were killed by Congress, voters could revolt. “Can you blame an individual taxpayer?” she asked. “They try to minimize their individual tax liability.” What? You are saying the individual taxpayer will be upset over keeping more of their money? You’re an idiot. “Maintaining the deduction encourages government overspending and taxation,” argues the American Legislative Exchange Council, a nonprofit group of conservative state legislators and private activists. Various other groups are fighting on Capitol Hill to defend the SALT deduction, such as the National Association of Realtors and the U.S. Conference of Mayors.
When the local people, those brought in and lined up by the libs, start to talk nonsense about things they have done themselves to establish their claims, then it all becomes deja vu. If you can’t impress them with facts, baffle them with BS. Pass the bill, make jobs get everyone working, economy flourishes. Basic.
rwood
Let the high-spending Leftists justify what they are spending their constituents’ money on.
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You hit the nail on the head. That’s it. If they did and people were actually paying attention, they’d be run out of the building as it was set on fire.
Who is the progressive?
You propose using the tax code for social engineering, denying some deductions which benefit blue states, but keeping those which potentially could harm Red states if they are lost.
“It is done to enable all the extra programs they attach as “important” attachments to basic services, and to support their government workers unions demands”
Again, you must be talking about the Congressional Republicans.
In this case, the shoe’s on the other foot.
Congressional Republicans are proposing an Individual tax increase, while the Democrats oppose it.
How weird is that?
Remove the Deduction and I bet the price of Salt drops .
“That is the point.”
And they keep all SALT deductions. And not just those little guys...BIG privately owned companies keep them too. Law and Medical partnerships, LLC’s, Sole Proprietors...every kind of corporation.
Only individuals lose SALT deductions.
Couldn't the same logic be applied to charitable deductions as well?
Yeah it’s great to hear the liberals defending this welfare for the rich.
And this benefit does go overwhelmingly to the rich- thanks to the progressivity of the fed, state and local tax schedules.
Conservatives think the rich should earn their money in the economy; the liberals think the government should give it to them, like SNAP benefits.
You are not alone.
On the logic of “Corporations Don’t Pay Taxes”.
While it’s true it’s their customer who ultimately bear the burden, conservatives would do well to consider this is the very BEST kind of tax.
It’s a “regressive consumption tax” applying equally to everyone. It is not steeped in Social Justice and envy.
Your idea of taxing people instead of business is the opposite of where we should be headed. The corporate income tax and taxes on winfall or profits are constitutional. The individual income tax, debatable so. Individuals should only be directly paying sales taxes and excise taxes.
The military budget should be set equal to corporate income tax receipts. The rest of the fedgov’s income should come from tariffs, imposts and excises.
All taxes have a potentially negative effect on trade and business. The system created by the Founders is called freedom.
Yep, and I am from Virginia, and SALT is my highest deduction (I have a modest mortgage). I look at it this way, what is best for America, a corporate tax cut and somewhat higher taxes for me, or is all about me? No, we need to do what is right for all of America.
EXACTLY
“You are saying the individual taxpayer will be upset over keeping more of their money? “
Ludicrous.
10’s of millions will get a tax hike. You must be repeating the talking points of the USCC and RNC.
When you over simplify to the point of reversing the point consistently, you betray an agenda.
Ain't that always the way. Spending OPM.
Corporate tax should be zero. Having owned a C-corp and paid the lowest rate, between federal and state corporate tax I had no money to reinvest. Sure, I could pay myself and write that off. But that didn't help my business.
Or the Dependent exemptions.
Most people never consider that element of this plan. The standard deduction will not even come close to covering the exemption of two kids, much less more than that.
But these dumbassed folks won’t come to the realization until after the 2018 elections when they do their taxes for the 2018 tax year.
Windfall? Have you ever tried to run a company?
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