Nope the weasal wording is from YOU. Do you think it won't be a failure for the GOP if the bill were to fail? Gimme a break. It is WELL known this bill benefits primarily the wealthy. There is no disputing that.
Tax rates do not mean anything to the rich. The big money tax savings is in the loopholes and deductions, not in the tax rate. For example, a few years back, the Obama's made $477,000 dollars in gross income. This gross income put them in the 39% tax bracket. However, they only paid about 20% in taxes. How did they lower their tax bracket to 20%, when on paper it is 39%?
The reason is deductions and loopholes. Using deductions and loopholes is not a crime. It is in the law. It does require you hire people who can navigate the tax code to find these hidden treasures. This benefits the rich, who can afford to have teams of accountants to do this task. If Trump was to lower the Obama's tax rate from 39% to 20%, and then get rid of all the loopholes used by the Obamas, the Obamas will pay the same taxes. It is a wash. Tax rates do not mean anything, when there is 70,000 pages of loopholes to make that rate go down.
The reason the swamp is not explaining this properly, is the tax loophole code is how they get campaign donations from the rich. If Senator Warren wanted an extra a donation from the Obama's, she may go up to Obamas and offer then a golfing deduction, worth $10,000 in additional tax savings. She can't just give the Obama's this deduction for all to see. Instead, Obama will be given a map to the labyrinth tax code, so he can find the key. This is how you funnel donations and keep out the riff raft.
In turn, Obama will give Senator Warren 10% of his tax savings as a donation. This donation is not even the Obama's money. It is money that was laundered through the tax code; tax payer money. Trump knows this, since he was the beneficiary of these maps and keys, just like all the rich deep pockets, who have been solicited by politicians, on both sides, for donations.
Trump wants to make the tax code smaller, so it is harder to hide these keys. To make this bitter pill easier to swallow, he will lower the tax rates to make it revenue neutral. If the Obamas still have a 20% rate they will not be too upset.
What is good about simplifying the tax code is, is using the keys to the code impacts the behavior of businesses and the rich. For example, if you can get a large deduction for buying new tools, you may buy them this year, even if you don;t need them. This is not free market driven; optimized necessity, but it is driven by greed. The loophole codes trains the rich the wrong way. However, it maximizes donations for politicians. You shrink the code and it is back to free market ventures. Politicians have to be more honest since donations are free market and not based on greed.
