Posted on 12/19/2017 10:45:01 PM PST by Kaslin
It's (nearly) over. By a 51-48, strictly along party lines, the US Senate has passed a GOP-backed tax reform package that will cut taxes for more than 80 percent of all Americans (raising taxes on a tiny, disproportionately wealthy fraction), benefit small businesses, and make America's extraordinarily high corporate tax rate -- both statutory and effective -- far more internationally competitive. All Democrats, including every alleged "moderate." voted 'no,' while every Republican voted 'yes.' The only Senator not voting was John McCain, who is fighting cancer at home in Arizona. This is a very significant victory for the White House and Congressional Republicans, as it also achieves long-sought conservative policy goals such as repealing Obamacare's coercive individual mandate tax, and opening up oil drilling in parts of Alaska's ANWR region. At last, a signature legislative achievement from the unified GOP government:
BREAKING: The Senate has passed the GOP tax reform bill, 51-48.
Nonpartisan analysts have determined that the proposal will cut taxes for 80+% of Americans, drastically improve our globally-uncompetitive corporate tax rate, grow GDP & create jobs. Every Democrat voted no.— Guy Benson (@guypbenson) December 20, 2017
The Wall Street Journal's editorial board calls the tax reform package a "trifecta" of policy wins. In light of the left-wing misinformation machine's nonstop efforts to frighten and mislead Americans about the bill, read this excerpt carefully:
The Tax Cuts and Jobs Act, which the House passed Tuesday, represents the biggest advancement for growth and opportunity in recent memory. It provides real relief to middle-income families and realizes policy goals conservatives have sought for decades. Taxpayers will get significant relief soon. A family of four earning the median income of $73,000 can expect a $2,059 tax cut. The Internal Revenue Service has announced that it will adjust its withholding tables as soon as February. With less money withheld, paychecks will be bigger in a matter of weeks. The bill significantly increases the standard deduction, nearly doubling the amount you can earn completely tax-free. It also makes taxes simpler, so that nearly 9 in 10 Americans will be able to file their taxes on a form the size of a postcard.
...Middle-income families will benefit from the doubling of the child tax credit to $2,000 a child. The expansion of 529 college-savings plans to elementary and secondary education means more Americans will be able to invest in their children’s futures. The bottom line is that this bill will help you earn more and keep more of what you earn. But that is not all. The Tax Cuts and Jobs Act achieves a historic trifecta of conservative policy goals. In addition to tax reform, the bill eliminates the ObamaCare individual mandate penalty, the linchpin of the health-care law, which forces people either to buy insurance or pay a tax. And for the first time, we will open up the Arctic National Wildlife Refuge for energy exploration and development, so we can harness these natural resources. After years of stagnation and division, we are firmly and finally choosing the path of growth.
As we wrote earlier, a liberal organization that is often hostile to GOP policy goals had no choice but to confirm that the bill will slash taxes for the lopsided, overwhelming majority of all Americans, starting immediately, and running at least into 2026 (after which the middle class tax cuts will very likely be renewed). The upper chamber vote comes on the heels of the House of Representatives' approval of an identical measure earlier this afternoon. Well, almost identical: Because of a technical procedural snag, House Republicans will have to vote again Wednesday morning, after which the bill will be signed into law by President Trump:
Republican lawmakers had been barreling toward their goal of passing the first major tax overhaul in decades before the end of the year. But in their haste, they appeared to have violated a Senate procedural measure known as the Byrd rule. A Senate aide confirmed to CNBC that three provisions in the bill adopted by the House on Tuesday do not comply with Byrd rule requirements. The rule governs what types of provisions the Senate may consider under the procedural budget window known as reconciliation...the final legislation [will bounce] back to the House for a procedural vote Wednesday morning.
Conservatives from across the spectrum should celebrate this accomplishment. The bill is not perfect, and there are some fair criticisms of it, but the Left's truly insane rhetorical overreach has descended to the point of parody. They refuse to grapple with the bona fide facts. I'll leave you with my deservedly uncharitable description of the anti-tax reform brigade's deceitful and obtuse demagoguery:
The Dem/media case against the tax reform bill: An orgy of baseless fear-mongering, flagrant dishonesty, cherry-picking, feigned ignorance, lies of omission, and risible hypocrisy. Astounding dishonesty and disingenuousness.— Guy Benson (@guypbenson) December 19, 2017
For a much more balanced and accurate assessment, read these three factual and data-driven posts.
Our tax guy sent email today saying if our property taxes not impounded, consider paying 2017-2018 property taxes by Dec 31st.
Assume due the $10k SALT cap deduction.
We live in CA.
Anyone else getting this type of advice or just doomsday scenario?
We’ve always paid our July 1 to June 30 property tax bill by Dec 31 since we’ve owned a home.
WINNING!
Finally, a little anyway, in things that the general public will notice.
Ours is always due the end of February. We get the notice in September/October.
Good Donald Trump was in the room or this would have been worse.
The RINO’s are giving the big corporations something with a 20 percent corporate rate.
I think their end game is a 15 percent corporate rate and a national sales tax.
The welfare state must be paid for by the little people like it is in Canada where the 15 percent corporate rate and national sales tax are in force.
Historic times we live in! This is one of them! I am truly happy this passed!
As long as, even, more tax cuts and, even, more tax reductions do happen, through future legislation for the foreseeable future.
The vote was 51 to 48, which reveals the real reason McCain stayed home.
He knew there was nothing he could do to stop it.
The repeal of the Individual Mandate is not getting enough attention. This will be a fatal blow to Obamacare. Who will choose to be in that disaster of a federal program?
The vote was 51 to 48, which reveals the real reason McCain stayed home.
He knew there was nothing he could do to stop it.
##########
Yup!
The last time Congress 'repealed' the individual mandate, they merely reduced the penalty for not having medical insurance to $0. A dirty, spineless trick.
I'll have to look up the relevant section of the bill to see if they really repealed it this time.
Agree! Next we can come back for a little more, using the Ronald Reagan strategy.
I want to see the postcard. Beyond that, yay!
Remember when Republicans were actually conservative? Ya me neither.
Erma Gawd. I can’t believe they got something done
Precisely
It’s the way the dems have gotten us to this point
and Rinos.
True that
“The Dem/media case against the tax reform bill: An orgy of baseless fear-mongering, flagrant dishonesty, cherry-picking, feigned ignorance, lies of omission, and risible hypocrisy. Astounding dishonesty and disingenuousness.”
Only astounding if you don’t realize that this is their response to anything and everything.
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