McConnell 'misspoke' on claim that no one in middle class would get tax increase

The Hill ^ | November 10, 2017 | BY JORDAIN CARNEY

[Oldeconomybuyer]

Senate Majority Leader Mitch McConnell (R-Ky.) is walking back his claim that no middle class Americans will see a tax increase under the Senate GOP plan.

"I misspoke on that. You can't guarantee that absolutely no one sees a tax increase," McConnell told The New York Times on Friday.

McConnell added that "what we are doing is targeting levels of income and looking at the average in those levels and the average will be tax relief for the average taxpayer in each of those segments."

[exit82]

Why did the Senate have to come up with a tax bill anyway?

Just to waste time.

And to deny Trump another legislative accomplishment.

Spending bills must originate from the House—they should read the pesky Constitution sometime.

Get ready for “Ocare Debacle—the Sequel”.

The usual suspects are getting their thumbs ready for the thumbs-down sign as we speak.

[EVO X]

IRT your #39. You point out why there can never be any meaningful tax reform. If you plan your life around a certain tax loophole, the plan doesn’t work if the loophole goes away and taxes aren’t adjusted accordingly. Even suggestions of modestly altering 401K type plans brings out big yells..

[Mariner]

As far as I can tell people are not clamoring for tax reform.

They are clamoring for tax RELIEF.

An across-the-board cut in rates will satisfy that demand.

[EVO X]

Tax relief at the federal level isn’t likely to help anyone in states like Illinois. They will just raise state income taxes as fast as the feds cut them.

[Mariner]

IL will be forced to raise state taxes no matter what if they wish to remain a viable financial entity.

However, is that a reason to raise the Federal net tax paid by the taxpayers in IL?

[EVO X]

Il raised income taxes earlier this year. Cook county recently raised property taxes. If net fed taxes went up for some of those people, it would be a triple whammy.