$1.5 Trillion GOP Tax Cut Thread

[Pyro]

This wealthy wank is going to crash the economy.

[Pyro]

Something that has surfaced recently:

https://petitions.whitehouse.gov/petition/opposition-taxation-graduate-student-tuition-waivers-and-remissions

The new tax plan aims to tax graduate students' tuition remissions as income, effectively increasing their tax rates anywhere between 100-1,000% on "income" they never see.

The repercussions would be astronomically destructive for higher education and for the upwards mobility of future generations of professionals in the United States.

More info here: http://cgsnet.org/ckfinder/userfiles/files/CGS_Tax_Reform_Scenarios%281%29.pdf


"Example #2: Jose, a doctoral degree student at a public institution had a $14,500 fellowship and was also credited with $9,500 as a tuition/fee waiver.

Under the current law: In 2012, Jose’s tax liability would have been $8,550 and he would have paid $847.50 in federal income tax.

If tuition waivers are considered as taxable income and LLTC is not available: Jose’s tax liability would increase to $18,050, despite the fact he would still take home the same amount of money, and he would have to pay $2,272.50 in federal income tax, or 16% of his fellowship.

Effectively, Jose’s federal income tax would increase by 168%, or $1,425."

-Council of Graduate Schools

"Why don't Millennials like Capitalism?"

[Pyro]

Larry Kudlow says tax plan will "hurt" people:

https://www.politico.com/story/2017/11/29/trump-tax-reform-kudlow-194187

That hasn't stopped them before.

[Pyro]

"Moderate Hero" McCain's is for this massive hand-out to the wealthy.
That's basically it for the debate, this will pass 52-48.

https://twitter.com/SenJohnMcCain/status/936263685290516480

[Pyro]

The question now is how the media chooses to frame this once it has passed.

CNN and MSNBC have focused so heavily on Trump's inability to get anything through Congress, that it feels as though they will commend him on a legislative win without speaking much to the criticism of the tax plan.

[Pyro]

I still have yet to see evidence that the average middle class family is going to see a tax increase out of this

Try even Googling "Trump Tax Plan Middle Class".
Literally any reputable link will explain how this thing is a joke.

[Pyro]

I still have yet to see evidence that the average middle class family is going to see a tax increase out of this

Try even Googling "Trump Tax Plan Middle Class".
Literally any reputable link will explain how this thing is a joke.

yah no:


https://taxfoundation.org/tax-cut-amended-senate-tax-cuts-and-jobs-act/

You must be logged in to read this quote.

Right-wing Reaganomic think tanks are the furthest thing from a reputable source. Honestly.

[Pyro]

DYNAMIC SCORE RELEASED: Even assuming large amounts of economic growth, bill still raises deficit by $1,006,700,000,000.  https://www.jct.gov/publications.html?func=download&id=5045&chk=5045&no_html=1

This is the plan. Dramatically lower taxes on high-income earners to soothe the doners. This raises the deficit.
Then, exclaim that the debt and deficit are unsustainable and we therefore require massive cuts to social spending.

[Pyro]

Susan Collins is officially a yes

Does the Alabama race even matter now regarding tax reform?

Democratic pickup in Maine confirmed for 2020.

Yes to the latter, if Doug Jones were to win (and Corker votes no) then Pence pushing this through would be a bad look.

[Pyro]

Motion fails! No sleep for the crooks!

[Pyro]

Vote-o-rama time! First up, Sanders amendment 1720. (Amendments list was posted upthread)

GOP Senators who vote down this measure could be explicitly framed with the intent for program cuts.

[Pyro]

Isn't it getting passed McCain's and the Turtle's bedtime?

Cutting taxes on the wealthy is their cocaine. They'll be up all night for this.

[Pyro]

44 - 50.

Collins a yes, Carper and Warner no. Party lines otherwise.

Primary.

[Pyro]

1 min each debate begins on Rubio-Lee.

Rubio already roasting the no votes for picking corporations over kids.

Rubio will be picking corporations over kids when he votes for the tax bill.

[Pyro]

Why are all these Democrats voting against sending it back to committee?

Because they are left wing hacks who don’t want any tax cuts!

You know why you were surprised about Gillespie losing by so much?

Because you don't realize how damn huge income inequality is in America.

This tax bill does not solve income inequality; in fact, it actually makes it even worse.

It's why this bill is so unpopular. Guess what: This bill is literally more unpopular than both Bill Clinton and George H W. Bush's tax raises. How the hell do you make a tax cut more unpopular than a tax raise? You have to be a special kind of incompetent to do that.

Once the republicans realize this trickle down garbage doesn't work (and moderate on basically every issue), I will rejoin their party. Until then, they can go to hell.

They know it doesn't work.

This was all about pleasing their donors, so they can get their money for next year's mid-terms. Of course, this won't save them and they will lose the house.

By the time the economic effects of this bill are felt, the Democrats will have already won the House, and will be promptly blamed for the inevitable financial downturn. It's all in the plan.

[Pyro]

Hahaha DeVos

[Pyro]

1:35 AM

Remember the time.

[Pyro]

Corker was the only Republican opposed.

[Pyro]

What a damn disgrace.

[Pyro]

If you go out and murder the richest person who lives in your town, and inspire one person to do the same, you will have done more to make the American economy work for everyone than any Republican in history and honestly most Democrats.

This tax bill is textbook class war and needs to ignite mass mobilization, not senseless violence.
I am unsure of the seriousness of this sentiment, but it's clearly the wrong direction.

[Pyro]

Vox.com says this could die in conference

Vox says alot of things.

This won't die in conference. Unlike the ACA repeal, Republicans actually want to pass a tax cut bill. They will work out their differences.