[Nicojones]

Well that really puts things in perspective. Now I see why the market is going bonkers over this bill. Thank God Trump is president and not Hillary.

[SkyPilot]

No middle class should have their taxes raised. This is the ultimate flaw and will be the failure of the bill. It is the opposite of Trump’s promise. If he signs this, he crosses the Rubicon politically and forfeits his moral authority.

[Not A Snowbird]

I’m skeptical of the House bill. I get tossed into a much higher tax bracket and lose more deductions than they can make up with the higher standard deduction.

[ProtectOurFreedom]

Everybody who uses deductions and owns real estate in NY, NJ, CA, IL, and other high tax states is going to get royally effed.

There was some interesting analysis about CA the other day that found the middle class tax hike here resulting from the loss of SALT deductions is 22 TIMES BIGGER than the gasoline tax hike that passed and got everybody into a tizzy.

This is not what I voted for. This tax hike is many times bigger than any tax increase ever proposed by Democrats in my lifetime.

[Intolerant in NJ]

Just 12 percent would see a tax increase — and they are concentrated among the rich…here’s a little email exchange I had with Senator Menendez a few weeks back – Menendez sent the first -

A tax cut that raises your taxes??
Senator Bob Menendez
To Freeper Name Oct 31 at 11:31 AM
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Dear Friend, Imagine finding out that you have to pay taxes ON your taxes . That’s exactly what Republicans' idea of tax reform means. New Jerseyans pay some of the highest property taxes in the nation, but at least we’ve always been able to deduct them from our federal taxes, so we’re not taxed twice on the same dollar. That won’t be the case if President Trump’s tax plan– which Republicans put on the fast track last week – becomes law. They want to eliminate the State and Local Tax Deduction, or SALT, resulting in a $3,500 tax increase for more than 1.5 million hardworking New Jersey middle class and upper middle class families who rely on it. WATCH AND SHARE THIS EXPLANATORY VIDEO
What kind of “middle class tax cut” (as Trump promised) increases taxes on middle class families by $3,500? And what kind of tax relief plan socks it to New Jersey families – most who make less than $200k a year – by taking away a deduction worth $10,000 and forcing New Jerseyans to pay taxes on their taxes. It’s a plan we have to stop. We cannot allow Republicans in Congress to raise taxes on New Jersey’s middle class families just so they can give big fat tax breaks to a handful of the super-wealthy and giant corporations. We need to sound the alarm! Share the truth about their plan with your friends by sharing this on social media:
There’s no time to waste. Thank you.......Bob

My Reply:
To Senator Bob Menendez Oct 31 at 7:38 PM
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Wait a minute Bob - you Democrats are always yapping about Republicans giving tax cuts to the rich - here finally is the elimination of a deduction which goes almost entirely to high earners paying high state income taxes and high real estate taxes on their big mansions - most of us in the middle class will more than cover the lost deduction with the doubling of the standard deduction - let's finally stick it to those rich bastards (like your doctor friend from Florida) - finally make 'em pay their fair share (even though the top ten percent of earners already pay eighty percent of federal income taxes) - make 'em pay more - finally do something to make me proud you're my senator....... Freeper Name

Bob struck back almost immediately with a devastating email retort – “Five Things To Know About Enrolling in Health Care”.......

[RKBA Democrat]

Here is a link to an analysis of the senate plan with rates and breakpoints.

https://taxfoundation.org/details-analysis-2017-senate-tax-cuts-and-jobs-act/

Everybody will be different. Based on my own back of the envelope calcs, I’ll see an 11% decrease in overall income tax.

I’ll take it.

[bertmerc1]

Will this bill eliminate the Obamacare mandate?

[lightman]

Tax shift (SHAFT) ping!

[lightman]

In the interest of intellectual honesty and transparency, let's begin with a few important concessions to skeptics of the GOP tax reform bill: First, not every single American would be a winner under the plan. A small percentage of US taxpayers would see a tax increase (disproportionately, these would be higher-income itemizers from high-tax states), and a number of deductions that help certain people with heavy medical expenses and student loan debt would be eliminated (proponents say much or all of the resulting blow would be mitigated by lower rates and a doubled standard deduction).

In the interest of FRee discourse and full disclosure, as one of that unfortunate minority in the People's Republic of Pennsyltucky I'm looking at a 30 - 50% tax INCREASE.

And that will change my vote from GOP to Libertarian forever.