GOPe swamp critters will bury it. I’m taking bets.
a former neighbor of ours’ on welfare got the EIC. Never understood how she could collect an earned income credit without actually earning any income.
Basically what it does is SIMPLIFY. To my mind, that’s even more important that lowering taxes. Over the years, taxes have gotten more and more complicated, until it takes months to do them, and you have to have a special program or a tax adviser to do it.
This will be vastly simpler and easier, IF the rats and republicrats pass it.
If I understand it, it will mean somewhat lower taxes for lower tax states, and somewhat higher taxes for higher tax states. Living in Vermont, I will be screwed with higher taxes. But I won’t have to spend four or five months tearing my hair out trying to get things right, and then another couple of months fighting it out with local tax officials. The big screw for us is the local property tax rate. Well, maybe people in Vermont will be moved to lower that, if higher property taxes no longer mean lower federal taxes. Who knows?
In any case, the MSM will lie their heads off about it, and the Republicrats will try to kill all the best aspects.
What do “rich” people DO with their money?
Bath in it?
Buy ten more gold Cadillacs?
NO.
Most “Rich” people GOT that way because they know how to use their money to MAKE MORE MONEY.
And to make more money you INVEST in things.
And the things you invest in, generate income, taxes and jobs.
Its NOT rocket science.
CUT THE DAMN TAXES. CUT THEM ACROSS THE BOARD.
It will RAISE more government revenue in the LONG RUN!!!
Hope it’s a good plan.
Reducing the tax brackets from whatever to 3 means nothing. It’s the rate in each bracket and where the bracket boundaries are that matter.
Kaslin- good post
Thanks