Good post.
Please try and understand what I am saying. The "Middle Class Tax Cut" didn't pan out for everyone. The tax bill was primarily aimed at cutting taxes for corporations. Mnuchin, Cohn, and Brady admitted this after the bill passed.
To make up for the lost revenue from giving corporations a huge (35% to 21%) rate cut, the GOP was forced to look for more revenue. SALT was a biggie, and estimated $1 Trillion bill, passed on to individuals and families. And there were other deductions that were made illegal.
This strategy hurt the Republicans big time in the last mid-terms. I said numerous times that we would lose the House if the bill passed, and we did (vote fraud also killed us).
That's all I am saying.
Hi SkyPilot.
Yes, the tax cuts mainly affected corporations. As a working class household, Im OK with that. My husband takes care of our finances, but I have to sign papers once in awhile. This year, we are receiving $700.00 cash back.
I was kind of pissed about that, because we should break even - owe nothing. I’m in the way of thinking that, if the government gives you tax back - a refund...then you have put way too much in.
Unless you are an illegal, or other sponge, getting “earned income” *cough* tax credits....that you DO NOT deserve.
So the tax cut didn’t work for everyone...what does that mean? Who are you speaking for?
Those who expect earned income credits? Those who overpay and expect Uncle Sam to barf up that overpayment?
That does not seem to me to be true. Not only has the job force expanded exponentially but individual incomes have risen for the first time in years. The Dems holler about standing for the middle class, yet the middle class was shrinking under their regime. What prospered was corporate cronyism.
Of course not every single person has seen personal financial gain. Reagan's A rising tide lifts all boats is a bit of a sweeping generality - but still instructive about capitalism. Universally true is: socialism sinks all boats!
Forgive, but I can't recall 'SALT'. Was that the ending of the state and local tax deduction on federal tax forms? How did that enrich individuals and families by a trillion dollars? It might have enriched the free-spending Congress by a heap of dollars.
***the GOP was forced to look for more revenue***
What the Congress should be looking for is how to cut spending. Just about every one of them should be indicted for promoting a ponzi scam! Soon we will hear from these carpetbaggers that we MUST raise the debt ceiling because we cannot afford to default on the debt. OR they could reduce spending. . . . . FAT CHANCE!
We are headed towards a cliff!