I hope the tax plan works

posted by Spock

I hope the tax plan works

I hope I win the lottery.  Funny thing is, both of our hopes have equal chances.  

We've got to pass the bill to find out what's in it. Where have I heard that before?

Liberals: The GOP is increasing taxes. 

Also Liberals: The GOP is increasing the debt.  

Inb4 tax cuts never work, look at Kansas.  Well, just like any tax cuts, the government always seems to forget their part of the deal which is to spend less. God forbid we want to keep more of our money, and we think the Government should be responsible by not spending beyond their means... 

It’s really a simple concept. Spend less than you take in!  We have created a culture the last 20 years that it is apparently our responsibility to keep paying more for the Government’s fiscal irresponsibility. Older generations keep kicking he can down the road too, to leave us to pay everything of. It’s a complete joke.  This is wishful thinking, but I hope the tax cuts finally pressure our congressman to start looking at spending cuts.

Also, LMAO at any liberal, leftist, democrat, etc all of a sudden concerned about the debt. Special shout out to Bernie, who all of a sudden is pretending to be fiscally responsible (LOL). Where were you people the last 8 years? Go fuck yourselves. Also, shame on any conservative who (including the majority of the GOP), who bitched and whined about the debt, but now are acting like it’s no longer a concern. Try to be intellectually honest for once. You people can also go fuck yourselves. 

I do think the corporate tax rate will go a long way for creating jobs. Other countries are very concerned that the US is making their corporate tax rate very competitive. Ireland has been booming, because of their very competitive rate and now they are concerned they will lose business to the US.

^^ Good post. I'm definitely on board with a huge overhaul in our tax code, and absolutely on board with massive corporate tax cuts (I saw the same concern coming from Ireland). My only concern is the haphazard way they went about putting the bill together and passing it. 

posted by justincredible

^^ Good post. I'm definitely on board with a huge overhaul in our tax code, and absolutely on board with massive corporate tax cuts (I saw the same concern coming from Ireland). My only concern is the haphazard way they went about putting the bill together and passing it. 

I agree.  The fact our tax code is still 500 pages is beyond ridiculous as well.  I would also like to throw in another LOL at dems crying about passing a bill without knowing what is fully in it.  They are all so full of shit. 

posted by like_that

I agree.  The fact our tax code is still 500 pages is beyond ridiculous as well.  I would also like to throw in another LOL at dems crying about passing a bill without knowing what is fully in it.  They are all so full of shit. 

Only 500 pages?  I thought it was well over 2000.

Dems have been hilarious on this, as usual.  First they bitched about it being purely partisan and rushed (you mean, like Obamacare?).  Now they're bitching about the cost - my guess is the $1T cost is going to produce at least 2-3X the growth that Obama's trillion dollar stimulus did.

And the kicker is Dems are worried this is going to be an excuse for the GOP to cut entitlements down the road - so, you're worried the GOP might actually lower spending at some point?  We can only hope...

Trump coming out in support of the pedophile Roy Moore so that he doesn’t lose a vote on the tax bill. 

Drain that swamp, Donny!

posted by SportsAndLady

Trump coming out in support of the pedophile Roy Moore so that he doesn’t lose a vote on the tax bill. 

Drain that swamp, Donny!

Something something "mary and joseph," something something "democrats".

Listening to dems cry about the tax bill because it will add a trillion dollars to the debt over the next 10 years (which is false to begin with), when they just endorsed obama adding TEN TRILLION in 8 years is simply hilarious.  Literally unbelievable. 

And yes, the tax code is over 2,000 pages, and it takes another 70,000 pages to explain those 2,000 pages. 

BURN IT, and eliminate the IRS.

BTW -  the senate bill ELIMINATES the individual mandate in obamaKare ------ THANK GOD !!!!!

Supreme Court to allow full Trump travel ban to go into effect.  Thank you. 

Another win. 

posted by gut

Only 500 pages?  I thought it was well over 2000.

 

You're right.  I misread.  

posted by like_that

You're right.  I misread.  

Ha!  I was WAAAAYYYYY off (I think this new plan is an additional 500 pages).

posted by gut

 

Ha!  I was WAAAAYYYYY off (I think this new plan is an additional 500 pages).

Well, I was obivously way off lol.

That seems reasonable. 

posted by superman

Liberals: The GOP is increasing taxes. 

Also Liberals: The GOP is increasing the debt.  

To be fair - wouldn’t you agree that the average lib complaining about these tax reforms are arguing that it increases the relative burden on the least and less well off while reducing the burden on the most well off. Moreover, it is not inconsistent for the unenlightened lib to also lament that it is increasing the deficit. (FWIW I disagree with that POV).

point is - c’mon brah - no need to act like you don’t understand the unlightened lib class-war position(s).

Basically as follows: Ok to increase deficit w/ lib programs that help the least and less well off. Also ok to soak the most well off with higher taxes. Not ok to raise net tax burden on less and least well off in order to reduce relative burden on most well off. Also not ok to add to debt if you are going to reduce tax burden on most well off...only ok to do so for least and less well off. Moreover avg lib believes supply-side benefits not worth it cus ultimately accrue to most well off.

(Again FWIW my views are different than this but no reason to act like you don’t get what dems are saying IMHO. 

posted by like_that

Well, I was obivously way off lol.

This is misleading. The “tax code” aka The Internal Revenue Code is only 2,600 pages. That 70,000 number is All “Tax Law” included within the CCH tax reporter e.g. cases etc.

You never see anyone going around saying “The First Amendment Code is 200,000 pages!!! Repeal the first amendment!!!” 

posted by QuakerOats

Listening to dems cry about the tax bill because it will add a trillion dollars to the debt over the next 10 years (which is false to begin with), when they just endorsed obama adding TEN TRILLION in 8 years is simply hilarious.  Literally unbelievable. 

Let us remember the Democrats spending a year trying to pass the ACA desperate to keep it under $1 trillion over a decade while the GOP Deficit Fauxwks like you declared inevitable debt driven collapse. 

God how fucking stupid were the Democrats to actually think the GOP and the public cared about the deficit passing Obamacare with insufficient premiums support...setting the stage for all of the justified complaints about obamacare’s Shortcomings.

(Again have to reiterate that I think the massively higher deficits will be good for the country. Just here to smh at the Quaker/GOP hypocrisy and smh at how Democrats were played even in the post “Ronald Reagan proved Deficits Don’t matter world”)

posted by QuakerOats

BTW -  the senate bill ELIMINATES the individual mandate in obamaKare ------ THANK GOD !!!!!

Goin with the ole launder it through the insurance company move in the budget deal IMHO. 

posted by QuakerOats

Listening to dems cry about the tax bill because it will add a trillion dollars to the debt over the next 10 years (which is false to begin with), when they just endorsed obama adding TEN TRILLION in 8 years is simply hilarious.  Literally unbelievable. 

Also funny how you completely discount the Great Recession. If the economy goes into recession any time soon or under this tax reform it will make the nominal deficits of the Obama years look paltry. But hey guess what - gop or dem the deficit is going to go up during recessions! 

smh at BS's BS.  There is nothing in the current plan that will truly inflate deficits/debt.  Lowering RATES always increases revenues; it has happened every time.  The problem is ALWAYS on the spending side.  This plan would actually eliminate deficits and decrease the debt if we only cut out the 'one-time' TARP spending that NEVER disappeared after '09-'10.  

Get in the game. 

posted by QuakerOats

smh at BS's BS.  There is nothing in the current plan that will truly inflate deficits/debt.  Lowering RATES always increases revenues; it has happened every time.  The problem is ALWAYS on the spending side.  This plan would actually eliminate deficits and decrease the debt if we only cut out the 'one-time' TARP spending that NEVER disappeared after '09-'10.  

 

 

Get in the game. 

We have had these exchange a million times and nothing ever changes. In nominal dollars Federal spending and and federal revenues have gone up every year since the Founding. Moreover, even with that taken into account EVERYONE AGREES - EVEN THE GOP CONGRESS - that without corresponding reductions in spending - the reduction in revenue compared to the level there otherwise would be will require the treasury to issue $1 - $1.5 trillion more treasuries AT LEAST.

I actually don’t think that is a bad thing and believe the tax plan is a net positive but that is that. 

What is different though is that suddenly the GOP no longer demands offsetting spending cuts when they actually have the power to do it with 51 votes! 

So ask yourself - why in the face of these budget projections are they doing things like proposing an AMT for corporations, potential automatic tax rate hikes in the future (which undermine the long term supply-side benefits of the plan) and not offer automatic triggered reductions in spending instead? 

I just want to see a little bit of the same hysteria about lack of spending cuts as when Democrats have power. I’m not even talking equivalence here. The GOP could reduce spending with 51 votes but it’s not even on the radar?

Because - Surprise, surprise - the lamentations of the Obama years were just partisan B.S. My humble opinion is that this is partly why I think the GOP on net is worse. Obama and co. say they want to tax and spend and they do. The GOP says they want to cut taxes and cut spending but they only cut spending. 

(Oddly enough that makes the GOP probably more in line with my views on fiscal policy since I think we need permanently higher deficits...I just wish the tax cuts were larger for less well off e.g. payroll tax cuts but I can’t get past all the fake anti-spending deficit-fauxkery) 

Border crossings now down 45% 

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