Posted on 10/30/2017 5:47:47 PM PDT by 2ndDivisionVet
The House’s adoption of the Senate budget resolution sets the stage for a YUGE Trump second-term victory in 2020. This congressional action allows for the passage of a $1.5 trillion tax cut—and that will lead to record job creation and robust economic growth. Republicans in the House and Senate must come together over the next three weeks and pass major tax cut legislation so the United States can once again be the leading economic engine of the world.
Since Donald Trump was elected, the Dow Jones Industrial Average has added more than 5,000 points. Last week, it closed above 23,000 for the first time. That’s over a 30% increase, which directly benefits pension and retirement plans all over the country. To put that in dollar terms, the total U.S. stock market has increased in value by over $5 trillion since the election.
The stock market is pricing in the growth-friendly policies Donald Trump campaigned on, and its strength can only be maintained if tangible legislation to roll back taxes, regulations and bureaucracy is enacted.
The Trump stock rally would never have happened had Hillary Clinton been elected, or if Republicans had lost the Senate....
(Excerpt) Read more at realclearpolitics.com ...
Which is why RINOs and GOP Establishment pukes are doing everything they can to insert “poison pills” into the proposed bill. And failing that, they want to make is so enfeebled that it will have minimal positive effect on the economy.
That is provided congress passes the tax cuts. The Republicans in congress are a bigger enemy to Trump than the Democrats. The GOPe would like nothing more than see Trump lose in 2020.
It won’t lead to a $1.5 trillion dollar tax cut because it MUST be revenue neutral to be enacted via reconciliation.
Oh, and in case anyone is wondering where the revenue will come from to drop the corporate rate from 35% to 20%...it comes from the middle class.
It’s a bullshit story.
I’ve seen what some folks would call a (perhaps several) poison pill(s) in what has been floated so far.
I they think that’s going to go over well, they’ve got another think coming in 2018 primaries.
Republican Congressional veterans, you better think long and hard what you try to screw us with.
We’re angry, and we’re not taking it any longer.
You want to find employment elsewhere. I know a sure fire way to get a chance.
Two fallacies from the left:
- “most of the benefit goes to the wealthy” - False. When the top 20% pays 95% of the taxes, the top 20% of tax-paying Americans will of course benefit. You can’t benefit if you’re paying zero or a paltry amount.
- “but the deficit!”. Just laugh out loud when you hear a lib all of a sudden showing ‘concern’ over the deficit.
Phasing in the corporate/business tax rate cut over five years will NOT deliver the economic growth we need. We need to have our American corporations as well as other medium and small businesses going “balls to the wall” NOW so our economic growth gets the sustained and rapid economic growth our nation needs.
I’m disappointed to see so many FReepers opposing this with an “I’ve got mine, Jack” attitude.
I’m aware of states with high population, property valuation, also relying on property taxes to fund socialist programs like sanctuary cities and states etc. Which seems to be stumbling block . But as I think about mortgage write offs. How about allowing deductions solely apply to interest rates and a given percentage of the principal ? And for property tax write offs set a fixed percentage deduction rate much lower than 100% say 50% or 75% ?
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