It raises taxes on millions of American families in order to pay for special tax breaks that the wealthy benefit from. It also raises the deficits and health insurance premiums.
It is not better than nothing.
Yes the Intention is the continued upward movement of wealth at the expense of the lower and middle-class.
Borrowing money with no Intention of ever paying it back is trumps business model and now tbe gop and cooperate American has bought Into it.
It's a take the money and run bill.
Your your nefarious motives trope may warm your partisan toes, but they are stereotyped and ignorant. No one is out to get the middle-class or raise taxes on millions; many, however, are out dismantle an economically inefficient system of corporate taxes and "special pleadings" that has needlessly hobbled potential US productivity and growth since WWII.
First, the core of the GOP-Trump plan is reduce corporate taxes because, as all economist know, its an economically harmful way of generating revenue. Both American and European economists are generally aware of that, the difference being that Europeans tend to listen more to the experts than do Americans - whose bottom line is usually "me hate rich people" and "what's in it for me"?
Ideally, there would be no corporate income tax (or capital) tax at all.
Second, capital flows from country to country, seeking the highest after-tax income. The world has reduced corporate income taxes, hence putting the US at a serious disadvantage on investments in new capital projects.
Third, it does not matter if stockholders reap the initial benefits (such as pension funds, retirement accounts, etc.) these benefits also accrue in the form of more investment and increases in worker productivity, and thus increasing wages.
Four, to the degree that the tax reform attempts to remove "special pleading" (deductions used as 'subsidies' to voting blocks) the greater is the efficiency of the tax system, and the greater efficiency gain to the economy. Deductions for home mortgage interest, children, state income tax, property tax, medical expenses, etc. ALL contribute to reduced productivity and growth by distorting the market, investiments and prices (home owner interest reduction being one of the worst offenders).
Five, the expiration of the individual tax cuts is likely a good thing. In eight to ten years the debt will have reached a crisis point (the 90 percent threshold) and demand a realistic and frugal government. Taxes, in some form, will (or should) be increased for everyone (not just the upper half of the income earners) and more efficient forms of taxation (e.g. consumption taxes or carbon taxes) considered.
In other words, Americans need weaned off their high progressive rate, high corporate tax system, and lavish deductions and shifted to the more economically efficient European models. The expiration of these cuts will FORCE the benighted US citizenry to face a reality they have dodged.
