Mr. Johnson said Republican plans prioritize corporations over “pass-through” entities—sole proprietorships, partnerships, limited liability companies and S Corporations—whose owners pay taxes through individual returns and at individual income-tax rates, rather than corporate rates. The Senate plan, like the House plan, proposes to cut the corporate rate from 35% to 20%. Top rates for pass-through filers would remain over 30% in the Senate version of the bill and the House bill substantially constrains how much pass-through income could be taxed at a new 25% rate.
I hate this bill because it raises taxes on millions of middle and upper middle class families in order to "pay for" cutting corporate taxes. That isn't what President Trump ran on.
The Senate could bribe him with a bone, but that will only put pressure on them to hike taxes on individuals even more to pay for a more generous business tax cut than what was proposed.
Tax Bill ping....
Is the Tax Package even finished yet ?
I haven’t liked what I read.
Republicans had 7 years to come up with a plan to repeal and replace obamacare. Nothing.
They’ve had years to come up with a good tax plan that they could get a consensus of republicans to support. Nothing.
Have they gotten anything done since they’ve had both houses of congress? They’re as bad as democrats.
He’s just the “designated maverick” to ensure the bill fails. Kabuki theater. The gop faction of the uniparty is bound and determined to lose the election in 2018. They want to return to the good old days in the minority when they didn’t have to lead.
Politics is a scam and we’re suckers for playing.
It’s a phony tax bill. I hope it’s defeated
Why should big multinationals have a lower tax rate than small businesses who employ more people? Because big business donates more to the GOP scum in Congress.
We are not going to get real reform with this Congress.
All of the undocumented Democrats in R jerseys need to be repealed and replaced.
Alexander, Corker, Flake, Graham, Hatch, Heller, Hoeven, Murkowsky, McCain, Rubio, Gardner, Burr, Tillis, Portman, McConnell, Thune, Cornyn, Cochran, Isackson, Blunt, Johnson, Toomey, Capito, Rounds, Fischer, Collins, Wicker, Sasse, Ernst, Lankford, Young, Boozman and Shelby are all undocumented Democrats in R jerseys.
Still, not a single Republican senator complaining about the loss of all individual SALT deductions.
That’s an ominous sign.
Still, whatever mechanism kills it, I’m OK with it. While my tax situation is not ideal and I pay far too much, I would pay a LOT more under either plan.
A lot more. Thousands more every year.
And Trump wan't a tax Bill passed before Christmas, is a sure and certain loser; not to mention brain dead STUPID!
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” Justice John Marshall, Gibbons v. Ogden, 1824.
"State inspection laws, health laws, and laws for regulating the internal commerce of a State, and those which respect turnpike roads, ferries, &c. are not within the power granted to Congress [emphases added]." —Gibbons v. Ogden, 1824.
"The smart crooks long ago figured out that getting themselves elected to federal office to make unconstitutional tax laws to fill their pockets is a much easier way to make a living than robbing banks." —me
"Federal career lawmakers probably laugh all the way to the bank to deposit bribes for putting loopholes for the rich and corporations in tax appropriations laws, Congress actually not having the express constitutional authority to make most laws where domestic policy is concerned. Such laws are based on stolen state powers and uniquely associated stolen state revenues." —me
And to not only make the Section 8-compliant 1040EZ permanent, but also make Pres. Trump’s vision for MAGA last many generations, patriots need to support Trump in leading the states to repeal the 16th and ill-conceived 17th Amendments (16 & 17A).
Patriots must first make sure that there are plenty of Trump-supporting candidates on the primary ballots who will commit to express-laning a ConCon for the specific purpose of repealing 16 & 17A.
For those patriots concerned about a possible overthrow of the country by a pirated ConCon, note that the product of a ConCon is never a new amendment to the Constitution, but a proposed amendment that the states can either reject or ratify.
Once 16 & 17A are repealed, and patriots support Pres. Trump in working with the states to put a stop to unconstitutional federal taxes, the states will probably find a tsunami of new revenues (higher state taxes) that they won’t know what to do with.
For starters, they can establish their own healthcare and retirement programs, increase funding for public schools, police and fire departments, and repair infrastructure, ultimately depending on what the legal majority voters of a given state want.
Also consider that repealing 16 & 17A will also effectively secede the states from the unconstitutionally big federal government imo. (Are you listening Gov. Brown?)
Drain the swamp! Drain the swamp!
Ron Johnson also supports the NFL and their disrespect for our country.
This is a tax increase bill, it’s the biggest tax increase for California in state history. Calling it a tax cut is a lie.
No conservative should support this tax increase bill.
Rush Limbaugh nailed it exactly right today when he said any tax reform bill that doesn't flat out cut rates ACROSS THE BOARD for EVERYONE isn't tax reform at all.
This nonsense that the Government picks winners and losers by giving one "class" a tax break while "offsetting" those dollars by taking them away from someone else is absolutely ridiculous.
I want REAL TAX REFORM - like Ronald Reagan did when he cut rates ACROSS THE BOARD.
Trump's "tax reform" isn't reform at all, it's more socialism on steroids. It needs to go down in FLAMES.
It does not raise taxes on anyone.
It seems they could address this primadonna’s concerns, compromise somehow and get something done.
I agree with you.
Need to get this idiot on board we can’t afford to screw this up. It’s better than nonthing.
Snow will probably vote against it, and McCain is likely also on the no vote list if not also Mercoskty the usual democrats in republican clothing.
> “pay for” cutting corporate taxes...<
If the “pay for” rule was followed by Congress and the Executive, there would be no need for Debt Ceiling increases. Year after year, republicans and democrats, Budgets are blown through like a cheap Kleenex. Cutting corporate tax rates is simply good policy.
Both republican plans for individual tax payers are bad. They do more harm than good. We did not vote for republicans to pass Deduction Reform.
On the surface, I agree with Johnson. I am an S-corp. But I ran my numbers through a tax calculator for the proposed plan, and my taxes from 2016 would have been $8000 less under the new plan, even with the pass-through rate taxed at personal income levels rather than corporate tax levels. If they extended the 20% corporate rate to me as a service s-corp, I would have saved $50,000