Posted on 10/23/2017 6:45:46 AM PDT by SkyPilot
The Republicans on the House Ways and Means Committee — engaged in a high-pressure, high-stakes tax policy rewrite — are currently exploring not cutting the income tax rate for people who earn $1 million or more per year.
Right now, the marginal tax rate for anyone who makes $418,000 or more per year is 39.6 percent. The Republicans' opening gambit — secretly negotiated for months, and endorsed by Trump — would have cut the highest tax rate to 35 percent. But now, House Republicans' thinking has changed. Under their current thinking, people who earn between $418,000 and $999,999 will be in a lower tax bracket. But those earning $1 million or more will not.
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Opting to keep taxing million-dollar-earners at the current 39.6 percent-rate will help stem the deficit increase from tax cuts for corporations and the middle class.
Caveat: The million dollar bracket plans haven't been finalized and could change this week, as committee Republicans finalize their tax bill during meetings on Tuesday and Wednesday.
Potential blowback: If the Committee Republicans ultimately decide not to cut the income tax rate for million-dollar-earners, much of the Republican donor class and Reaganomics community (including anti-tax activist Grover Norquist) will feel betrayed.
"I understand compromise, but why compromise with the sin of envy?" Norquist told us. "This isn't the dumbest idea I have ever heard of. But it is in the top 20."
Norquist argues this won't placate Democrats — who inevitably will charge that Trump's tax overhaul is just designed to help the rich — but will alienate conservatives.
(Excerpt) Read more at axios.com ...
Jefferson is the last person one should listen to about ‘riveting chains” on people “or oppression”.
His day is long past partially because of his rhetoric and policy. Without the Louisiana Purchase ( which he doubted was even constitutional) his terms as president would be an abject failure.
Hamilton proved there is a role for properly managed public debt. US debt immediately became the equivalent of the UK debt and created our money supply.
But the critical factor is that the vote now goes to non-property holders whereas in Jefferson’s day the electorate was less than 10% of the population in the South.
We have seen the result of “morality” mixed with politics in the Hitler regime.
One of the goals of the Founders was to make it difficult for that to happen. It has generally worked but that was when the poor were disorganized and could not vote.
I think the future Huey Longs and the Goebbelsmedia are a major danger still.
Sooooo all those containers ships coming in are loaded with NOTHING? Are you OK? Need urgent care?
Free Traitors™ peddle economic terrorism. Snake oil.
And often not.
Fine; that benefits nobody except a tiny few globalists. Why should Americans let you globalists define the 'role' of the US economy? Sounds like you are mixing politics and economics. I thought you Free Traitors&$#153 didn't do that.
Great...!!
Thanks!
“So...all the Conservative folks that make a lot of money...are ingrates?...Great...!!...Thanks!”
Not sure I said that, but pretty close anyway. If a conservative enables DEMOCRATS to run the country because his taxes went up $500, then yes, he would be an ingrate - no different from the millions of Democrats who vote that way because the Democrats give them bigger welfare benefits.
Do you go out of your way to not understand English?
The United States has always been involved in international trade. No matter how hard troglodytes try and prevent it, freedom will win.
You can’t even understand why Free Trade is superior to Government Controlled Trade. You really should not discuss matters you don’t understand it just makes you look ignorant.
You make no sense, as usual. In Free Trade globalists do not control things. Globalists get their paws in this precisely to take the economy AWAY from Free Trade. Who do you think will control trade should your philosophy win?
Hint: not the Mom and Pop grocery down the street.
You are an idiot yo have it bass ackward again.. Nationalists want to take away Free Trade OUTSIDE of the USA. Nationalist believe in free trade INSIDE the USA. You should too, but you can't because you are not a patriot.
Yet more idiocy from you, it never ends. The constitution basically requires free trade among the states. We are much wealthier as a result. The same thing happens in the international economy.
Among your many errors a critical one is that you view the international economy as a zero sum game wherein when one advances the rest of the world loses.
International Free trade makes some Americans and foreigners wealthy at the expanse of other Americans. Protectionism makes all Americans wealthy.
How in the hell did someone like you EVER vote for Trump? You are globalist Free Traitor™. Trump is not. The Trump agenda is in direct opposition to your globalist view of world economics.
It is false that free trade benefits just a select few, it helps everyone by keeping prices under control among other things.
And it is false that protectionism benefits everyone. It only benefits companies which are protected by a tariff, everyone else pays for that benefit.
Trump is not against free trade, he is against government sponsored trade and trade which comes from currency manipulation.
Trump is for free trade which would mean that trading partners no longer manipulate currencies and block our products from competing in there markets.
He is for TRUE free trade not the government-sponsored trade and ineffective or incompetent trade agreements.
He has already started the negotiations necessary to get closer to free trade.
It was easy to vote for him since I understand his thinking on this issue. He understands that free trade produces a bigger pie while protectionism produces a smaller pie. It is very simple.
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