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Thread: Public opposition to tax bill grows as vote approaches

  1. #11
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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by TheGoverness View Post
    Exactly. If this bill is gonna help out the middle class so much, why does it expire for them?
    It expires for everyone due to reconciliation rules. Read the bill. Page one states the tax rate changes only apply through 2025.

    ‘(1) IN GENERAL.—In the case of a taxable
    19 year beginning after December 31, 2017, and before
    20 January 1, 2026—
    21 ‘‘(A) subsection (i) shall not apply, and
    ‘(B) this section (other than subsection
    2 (i)) shall be applied as provided in paragraphs
    3 (2) through (6).

    Only the business changes are permanent.

    Summary of the Legislation
    Title I would amend numerous provisions of U.S. tax law. Among other changes, the bill would reduce most income tax rates for individuals and modify the tax brackets for those taxpayers; increase the standard deduction and the child tax credit; repeal deductions for personal exemptions; repeal or limit certain itemized deductions; and increase the exemption amounts for the individual alternative minimum tax. Those changes would take effect on January 1, 2018, and would be scheduled to expire after December 31, 2025. The bill also would permanently repeal the penalties associated with the requirement that most people obtain health insurance coverage (also known as the individual mandate).

    Title I would also permanently modify business taxation. Among other provisions, beginning in 2018, it would replace the structure of corporate income tax rates, which has a top rate of 35 percent under current law, with a single 21 percent rate. The legislation also would substantially alter the current system under which the worldwide income of U.S. corporations is subject to taxation. Title II would direct the Secretary of the Interior to implement an oil and gas leasing program for the coastal plain of the Arctic National Wildlife Refuge (ANWR) and would affect oil and gas leases and the Strategic Petroleum Reserve.

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by jonny5 View Post
    Polls are bull****.



    They over sampled democrats, and WAY oversampled independents, who are typically liberals who dont want to be identified. And 1000 people certainly cant speak for the entire country. Meanwhile 50 million people voted for Republicans in the last election to do exactly what theyre doing.
    Oddly enough more voted against them and just because imbeciles vote it does not mean they know what they do.

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by tres borrachos View Post
    Nicely done. You hit every alt-right talking point in a single post.
    Dont think ive ever seen the alt-right weigh in on polling methods. They seem to be more concerned with nationalism.

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by TheGoverness View Post
    Exactly. If this bill is gonna help out the middle class so much, why does it expire for them?
    There's a major tax bill that comes around every 10 years or so anyway. Things in politics are only "permanent" until the next administration comes in.

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by Lutherf View Post
    There's a major tax bill that comes around every 10 years or so anyway. Things in politics are only "permanent" until the next administration comes in.
    True.
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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by TheGoverness View Post
    Polls are fake news, Tres. You should know this.
    More than half the country opposed Obamacare when it was passed. Should that have prevented it from becoming law?
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

    --Albert Einstein, 1929

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by jonny5 View Post
    Polls are bull****.



    They over sampled democrats, and WAY oversampled independents, who are typically liberals who dont want to be identified. And 1000 people certainly cant speak for the entire country. Meanwhile 50 million people voted for Republicans in the last election to do exactly what theyre doing.
    Party Affiliation | Gallup Historical Trends

    According to Gallup, as of Nov 8th, the split was Dem 30% Rep 25% and Ind 42%

    While it would seem the sampling is off by 2% in favor of Ind/Dem, remember the GOP hasn't been making many friends among voters for the last 6 weeks. It's very possible those are simply the current percentages for party affiliation among US voters.
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    Could It Be Semantics Generating This Mess We're In?

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by ttwtt78640 View Post
    With the MSM spewing "news" of how bad (better for "the rich" is touted as bad?) this tax law change is then it is no surprise that it is unpopular. Unlike PPACA, which promised the average household a $2,500 annual savings, I suspect that the tax law changes will result in their advertised "raise" in the average paycheck.

    This puts the demorats into a bit of a bind - if they are against the tax reductions already in place by the 2018 elections then the only remedy is to run on a policy of proposing federal income tax increases. There are simply not enough millionaires (the top 5 to 7%?) to git-r-done (to raise over $1.5T more in tax revenue?) without resorting to delveing into the paychecks of those that consider (rightly or wrongly) themselves to be middle class. One must remember Feinstein's recent twitter lament that those with average homes (worth between $750K and $1M) are suffering a tax increase - that hardly seems consistent with the argument that "the rich" are getting a huge tax break.

    You're confident that you're going to see a $4000 pay raise, tw? You're one of almost 126 million households in this country. That would be a $503 billion pay increase across the board. Given that the Treasury collected $297 billion in corporate income taxes in fiscal year 2017, before the tax cut, how do you square that?

    https://www.fiscal.treasury.gov/fsre...mt/mts0917.pdf
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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by TheGoverness View Post
    Exactly. If this bill is gonna help out the middle class so much, why does it expire for them?
    That is the one question everyone is asking. Republicans wrote a bill that creates permanent cuts for those that need it least, and temporary cuts for those that need it most. On top of all of that they use those temporary cuts as proof that it is a bill that greatly benefits working families. They think we are so damn stupid that we can't understand how slanted that reasoning is. The "elitist Democrats" talking point is getting more and more meaningless as the days go on.

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    Re: Public opposition to tax bill grows as vote approaches

    Quote Originally Posted by Moon View Post
    More than half the country opposed Obamacare when it was passed. Should that have prevented it from becoming law?
    Uh, no?
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