Posted on 11/28/2017 7:21:21 PM PST by TigerClaws
Once again, it could all come down to Senator John McCain.
After sinking his party’s hopes of repealing the Affordable Care Act this year with a dramatic thumbs-down, the fate of a tax overhaul may now sit in the hands of the Republican from Arizona. In recent days, Mr. McCain has been fairly tight-lipped about his views on the tax proposal speeding through the Senate, saying he sees some problems with the existing bill but is waiting for a final plan before making a decision.
Asked about what concerned him about the Senate tax bill this week, Mr. McCain replied tersely: “A lot of things.”
Even those who know Mr. McCain best are unsure how he will vote, but if history is any guide, Republicans have reason to worry.
Mr. McCain has voted against big tax cuts before, including two that passed under another Republican president: George W. Bush. In that case, he bucked the majority of his party on the grounds that the 2001 and 2003 cuts overwhelmingly benefited the rich — a widespread criticism of the current Senate legislation and the bill that has already passed the House. Mr. McCain is also a deficit hawk and could find it hard to swallow a tax cut that will add around $1.5 trillion to the federal debt over 10 years.
(Excerpt) Read more at nytimes.com ...
Could he be THAT big an ass?
Asked and answered!
Yes he can be that big of an ass. Cancer please hurry up and do the deed.
He would burn the country to ash if it meant denying Trump a marginal win.
This isn’t business, this is strictly personal. Trump called him out for milking his victimhood and he can’t stand it.
Heck, am I actually going to become a McCain fan?
Of course he can. He hates Trump that much. The nation be damned, but he is a war hero you know s/.
This piece of trash hates America. He is a rotten communists and will regret if he kill the tax bill.
Well yes. OK, he’s had his hours in the spotlight. Could he finally put the drama queen away and do something half sensible now.
Once again the fate of the country rests on a mentally deranged SOB.
YES !!
We’re all doomed if comes down to that traitorous a$$hole.
Who is trying to please anybody and everybody.
Maybe the war duress DID get to his soul.
Well it really comes down to God, in whose hands even the heart of a “traitorous asshole” is like water.
Maybe if McCain finally gets the conviction in his heart that he is about to shuffle off the mortal coil, he might consider a more transcendent audience.
it’s interesting to me that i haven’t heard one congress critter oppose this bill on the grounds of its evisceration of the middle class. where are the folks that we elected to represent us? oh, that’s right, we are only given lip service at re-election time.
the elimination of most of the itemized deductions should be a deal killer to all those of our duly elected to represent us who vote them into office, and not as thank you gifts to those corporations who donate the fattest envelopes to their re-election campaigns.
so just as the cost of obamacare was being shouldered by all the healthy young people who had to sign up or pay a fine, this tax bill is being paid for by the average middle class taxpayer for the benefit of big permanent tax cuts for corporations and the wealthy. Touting this as a tax cut to all the middle class deplorables who elected Trump is the same as obama promising that you would save $2500 on your insurance premiums and could keep your doctor. This isn’t a tax cut, but a tax increase for the average American.
the standard deduction is being not quite doubled, but then they are eliminating the individual personal exemptions for yourself, your spouse and your dependents. so they give with one hand but take away with the other. in addition, they are eliminating the extra deduction for those over 65 or blind.
if you take the standard deduction, you cannot then itemize; therefore, giving up the normal deductions for medical expenses, long term care insurance expenses, state and local taxes, property taxes [under the senate bill], mortgage interest deduction limits, student loan interest deductions, moving expenses, alimony, dependent care assistance accounts, casualty and theft losses, unreimbursed job expenses and tax preparation fees.
further details about this “wonderful” tax grab:
Exclusions and exemptions. The measure would repeal personal and dependency exemptions (which is $4,050 per individual in 2017), exclusions for employee achievement awards, employer education assistance, qualified tuition programs, dependent care assistance, qualified moving reimbursements, and adoption assistance. Contribution to Coverdell education savings accounts would be barred, but funds in existing accounts could be rolled over to 529 plans. Deductions.
Certain deductions from gross income as well as itemized deductions would be eliminated. Deductions from gross income set to be axed include the alimony deduction (for divorce or separation agreements entered into after Dec. 31, 2017, student loan interest (although the Senate version would retain this deduction), interest on U.S. savings bonds redeemed for higher education, the moving expense deduction, the deduction for contributions to Archer medical savings accounts, out-of-pocket educator expenses, and expenses of performing artists and certain government officials.
Itemized deductions on the chopping block include the medical expense deduction, state and local income or sales taxes, the casualty and theft loss deduction (except for casualty losses in federally-declared disaster areas), and miscellaneous itemized deductions for tax return preparation and unreimbursed employee business expenses.
Tax credits. The bill would repeal the credit for the elderly and permanently disabled, the credit for mortgage certificates, and the credit for plug-in electric vehicles. The bill would eliminate the lifetime learning credit by consolidating it into the American opportunity credit. The credit would be available for five years of higher education (instead of four years), but the amount in the fifth year would half the usual maximum (including the amount eligible for the 40 percent refundable portion of the credit).
Now look at its impact on the economic strata of taxpayers to see who benefits the most:
“...the highest-income taxpayers (0.1 percent of the population, or those with incomes over $3.7 million in 2016 dollars) would experience an average tax cut of nearly $1.1 million, over 14 percent of after-tax income. Households in the middle fifth of the income distribution would receive an average tax cut of $ 1,010, or 1.8 percent of after-tax income, while the poorest fifth of households would see their taxes go down an average of $110, or 0.8 percent of their after-tax income.”
between mclame and flakey-
I think Arizona has the 2 worst senators-
lying, FAKE repugs- I am wondering why they just don’t throw in the towel
And declare themselves Demonrats!
Spector and Jeffords did- what is stopping them?
..... LOL ..... Only idiots would believe there is a chance for his support ..... He has always been a Manchurian Candidate that the Pro Socialist/Communist movement could count on ... Now that he is approaching the Big Sleep ... his true self is now being revealed ...
McCain started the fight by calling Trump supporters “the crazies”. It escalated from that point.
Yes, those who pay millions in taxes will get more back than those who pay thousands. Only the class warfare Democrats/ Communists can’t figure that out.
You know what he’s going to do. He delights in situations like this, asshole.
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