I wish they were trying to sabotage this garbage tax increase on the middle class bill. They are not. This “backstop trigger” is a baked in tax increase on top of the tax increase we get after they rape almost every deduction in the Tax Code we currently have.
I contend that an automatic tax increase is unconstitutional.
And absolutely STUPID fiscal policy.
If it's in the final version then I don't see the bill passing the Senate much less the House. If it's removed I expect Corker and Lankford to vote against it.
Every year, our Federal Government spends about $3.8 trillion dollars. That’s about equal to the total GDP of Germany. Triple the size of the GDP of Russia, Brazil, and many others. It’s staggering how much our Federal Government taxes, borrows, and spends.
Yet, with GOP control of Congress there isn’t even a whisper of spending restraint. Zero, zip, nada.
What to we get? Deduction Reform being peddled as Tax Reform. Time-barred rate reductions, backstops that raise taxes if certain factors change. It’s truly pathetic.
Spit.