[SkyPilot]

“The crux of the tax plan is to take money away from Americans who work and give it to financial elites who live off investments and inherited fortunes,” he says. “These so-called reforms propose to end things like the deductibility of student loan interest and scrap a small $250 deduction for teachers who have to buy supplies for their classrooms, yet preserve the carried-interest loophole, which only benefits hedge fund partners, costs the Treasury at least $2 billion per year, and which Trump actually campaigned to get rid of.”

My daughter is a school teacher at a Christian school that doesn't have a large budget. She buys the kids supplies. Good to know the Feds are going to be screwing her out of that $250 bucks. I mean.....the corporations better get that rate cut from 35% to 20% AND keep their deductions for state, local, and property taxes that are being taken away from the rest of us. Since Congress is giving away the store to the donors, I guess they had to find all that loose change in the sofa cushions of the Federal Tax Code and destroy our measly deductions.

Double the Standard Deduction you say? No, it isn't "double." They are completely eliminating the Personal Exemption as well. Do the math.

And I just read about the $350 Billion in automatic taxes the Senate is baking into the bill. Nice. A "Backstop Trigger" they call it.

So after our deductions are capped or destroyed - FOREVER - they will raise taxes if they think the deficit is growing too large, or if the saintly corporations don't actually "re-invest" but instead use the extra ca$h to buy back more of their own stock.

The Moment Gary Cohn Realized His Entire Economic Policy Is A Disaster

But many here are jumping right in! Gonna be a "Great Bill!"

Remember this?

"We will massively cut taxes for the middle class, the forgotten people, the forgotten men and women of this country, who built our country."

"Tax relief will be concentrated on the working and middle class taxpayer. They will receive the biggest benefit and it won't even be close."

[SkyPilot]

Tax Bill ping.

[Mariner]

And THIS from those notorious commies at Forbes:)

[SandRat]

Quack Quack Quack Quack Quack Quack

[SkyPilot]

Over here.....

[Navy Patriot]

Well, Schrooge McDuck is one of the good guys.

[FlipWilson]

Sigh, first off there is no tax bill. This has been teed up for McCain to vote “no” on again. He just can’t resist the chance to get an MSM puff piece and the chance to be lauded. It is like a drug to him that no narcotic or even anti-cancer drug could ever replace. Plus, he gets to stick it to Trump in the process. Viva McCain!! Eff everyone else.

Secondly, can someone name me a way, a single solitary way that taxes can ever ever ever be cut without a cry of “for the rich” being spouted? Come-on, I dare you.

Third, it’s boy who cried wolf time for the reason given above. This bill may suck but because cutting taxes has suddenly become like the third rail of social security reform, I am skeptical of the criticism.

[New Jersey Realist]

The Federal Government MUST cut their spending by at least 10%. Shut down useless agencies and fire useless employees. I am absolutely certain that the government can operate with 15% less employees. As far as congressional pay - suspend that for 5 years.

[ThisLittleLightofMine]

I’ve been trying to really find out what the new tax rate will be, I finally found a calculator for Trump plan, under this plan, my family will pay about 1/2 as much in federal taxes, until our remaining child in independent, at that point our taxes will go up a but, but still far less. We are a middle class family.

[Architect of Avalon]

Politicians who keep repeating the lie that this corporate cronyism legislation doubles the standard deduction should be voted out of office.

When a $10 deduction is merged with a $5 deduction, with the merged deduction being set at $20, taxpayers are getting a $5 greater deduction overall, not a $10 greater deduction overall.

[Drago]

The elimination of the medical expense deduction is a huge tax hit for my middle class Mom & Dad..Dad is in skilled nursing with an $8K+ monthly bill being paid by my Mom out of their savings. Bad bill...look out for the middle class 1st then drop the corp. tax rate...not to mention still no balanced budget via cuts or revenue...deficit still climbs.