Pelosi: GOP tax proposal 'the worst bill in the history' of Congress

[JasperL]

I am not talking about a tax code, I am talking about regulations that have been rolled back. Or gotten rid of in general.

And I asked what regulations. I'm not aware of any that were rolled back that would help someone in your line of work. If you don't want to answer that's OK, I was just being curious.

 

[Oborosen]

And I asked what regulations. I'm not aware of any that were rolled back that would help someone in your line of work. If you don't want to answer that's OK, I was just being curious.

I was only trying to make sure that it you knew it wasn't just taxes that I was talking about. Because you would be the third poster this week who somehow believes my gripes were solely about taxes.

Though in retrospect I really didn't like the income tax, or the payroll tax that I was forced into paying. After a year I was driven to get an external payroll company and that just slowly made this bearable for two more years.
The ACA shifted plenty of policies and I was hit with a failure to comply fine, for not compiling correct information on my employees (of which I only had four) and the amount of information that was needed was staggering.

I've seen businesses that have enough workers, that are required to break down their wages when reporting them to the IRS. Requiring a business to tell you the gender and race of the worker is just asinine, apart from the information that is readily available from the business already.

The EPA had regulations enacted that affected how I could use the land my business was on and even now I still have to account for working from home. Because the regulation covers ditches of all things and I had three surrounding the building that I originally worked from. Because at the time, I not only appraised, but I also refurbished. Which meant certain chemicals could get into any of the nearby bodies of water from me... which there were none.

I even had to register my emission status for a generator to run my sand blaster.

This is just a topic that urks the hell out of me and I'm not even half way through with my gripes.

 

[Media_Truth]

I rarely agree with Pelosi, but she is correct in this regard. The GOP tax legislation helps the middle class only minimally (and expires in 2026) and also swells the deficit significantly (~$1.09 trillion).

There will be perhaps a brief [2 year] increase in economic growth, then retrograde numbers and undoubtedly a recession (maybe severe).

It also turns Obamacare into Trumpcare (ends the ACA mandate) which will see insurance premium costs increase a minimum of 10% annually with 13 million less insured.

As some GOP Congressional members have openly stated, their donors told them what to do if they wanted continued campaign/re-election financial support.

Absolutely! Only 23% of Americans want this Billionaire-favoring tax plan. Write your Congressman and Senators, and tell them that if they vote for this, they will lose your vote.

 

[mike2810]

What interests me the most is, how is the new tax plan affecting me (my income level) compared to what exists today

 

[MTAtech]

What interests me the most is, how is the new tax plan affecting me (my income level) compared to what exists today

That depends on whether you mean in 2018 or 2025. The bill is a sucker punch -- it lowers taxes for many early, so they don't punish the GOP in 2018 and then raises them in 2025, hoping voters won't remember who did it. In the long run it's a tax cut for business paid for by tax hikes on individuals. Republicans want you to believe that the spike at the end won't happen, but also that the numbers add up. Both can't be true.

 

[mike2810]

That depends on whether you mean in 2018 or 2025. The bill is a sucker punch -- it lowers taxes for many early, so they don't punish the GOP in 2018 and then raises them in 2025, hoping voters won't remember who did it. In the long run it's a tax cut for business paid for by tax hikes on individuals. Republicans want you to believe that the spike at the end won't happen, but also that the numbers add up. Both can't be true.

A lot can change between 2018 and 2025. Congress has lots of options.
Your premise is Congress will do nothing between 2018 and 2025. Want to bet that if the Dems get control of both Houses the tax laws would change. (but maybe not. When they had both Houses and the White House under Obama for a few years, they really didn't do much.

 

[Rogue Valley]

A lot can change between 2018 and 2025. Congress has lots of options.
Your premise is Congress will do nothing between 2018 and 2025. Want to bet that if the Dems get control of both Houses the tax laws would change. (but maybe not. When they had both Houses and the White House under Obama for a few years, they really didn't do much.

It will require extensive time to undo just the regulations, cabinet, and foreign policy damage Trumpco & Co. have done in one year.

 

[mike2810]

It will require extensive time to undo just the regulations, cabinet, and foreign policy damage Trumpco & Co. have done in one year.

You mean to add back regulations that were / going to be eliminated?
Though the President picked and Congress approved cabinet members with each new election.
Foreign Policy damage. There may be some going on, but I expect most rationale leaders know that "this thing" (Trump) shall also pass.:mrgreen:

After working for the feds in natural resources/fire for 30 years. imo, there are regulations that could be eliminated in the management of public lands.

 

[MSgt]

1. When Socialists hate legistaltion, you know it’s good for the country.

This is exactly why Conservatives are highly useless to the country's progress and advancement right now (as they applaud trillions of more dollars to the deficit so that they can have individual $200 tax returns for a year or so).

Nancy Pelosi...is Leftist garbage. Declaring so, doesn't mean you should shove away her poisoned dagger so you can ignorantly embrace, embarrassingly, the sharpened ax of other extremist fools on the Right.

Join me on my arrogant, and lonely, pedestal, Zimmer.

 

[MTAtech]

A lot can change between 2018 and 2025. Congress has lots of options.
Your premise is Congress will do nothing between 2018 and 2025. Want to bet that if the Dems get control of both Houses the tax laws would change. (but maybe not. When they had both Houses and the White House under Obama for a few years, they really didn't do much.

My premise is that the Republican tax pitch is self-contradictory, as it tries to have it both ways on the question of middle-class taxes.

The comromise bill, as written, tries to be long-run deficit-neutral -- allowing use of the Byrd rule to allow passage by 51 votes by offsetting huge corporate tax cuts with higher taxes on individuals, so that by 2025 half the population, and most of the middle-class, would see taxes go up. But those tax hikes are initially offset by a variety of temporary tax breaks.

Republicans are simultaneously arguing that those tax breaks won’t actually be temporary, that future Congresses will extend them. But they also need to assume that those tax breaks really will expire in order to meet their budget numbers. So the temporary tax breaks need, for political purposes, to be both alive and dead, like Schrödinger's cat.

So, either they won't be cut in the future, leaving the middle class with higher taxes OR they will be extended, leaving the nation with a massive addition to the debt -- and that debt will be used by conservatives to cut Medicare, Social Security and Medicaid.

 

[mike2810]

My premise is that the Republican tax pitch is self-contradictory, as it tries to have it both ways on the question of middle-class taxes.

The comromise bill, as written, tries to be long-run deficit-neutral -- allowing use of the Byrd rule to allow passage by 51 votes by offsetting huge corporate tax cuts with higher taxes on individuals, so that by 2025 half the population, and most of the middle-class, would see taxes go up. But those tax hikes are initially offset by a variety of temporary tax breaks.

Republicans are simultaneously arguing that those tax breaks won’t actually be temporary, that future Congresses will extend them. But they also need to assume that those tax breaks really will expire in order to meet their budget numbers. So the temporary tax breaks need, for political purposes, to be both alive and dead, like Schrödinger's cat.

So, either they won't be cut in the future, leaving the middle class with higher taxes OR they will be extended, leaving the nation with a massive addition to the debt -- and that debt will be used by conservatives to cut Medicare, Social Security and Medicaid.

You may be correct on some points. Time will tell.

There are many other programs that Congress could cut or deduce besides the three you named.

You do realize that the US has been spending more than it brings in as far as revenue for years. Even if the tax bill never gets signed, the US still borrows to pay the bills. I would prefer we get back to a more realistic National budget. That means many programs would have to be reduced or eliminated. Or I guess Congress could increase taxes along with spending cuts.

 

[Parrish]

This tax bill is a means to an end. It has always been the Speaker's and others in the Republican party's goal to reduce entitlements and add to the wealth of those who strive every damn day to rig the system.

 

[Blkdirt Farmer]

This tax bill is a means to an end. It has always been the Speaker's and others in the Republican party's goal to reduce entitlements and add to the wealth of those who strive every damn day to rig the system.

You must be referring to the people who actually provide jobs for those in our ranks who are not motivated enough to be a private business man. In America we are able to get out of bed, work smart, and create a means of earning a living. Most people out there, maybe even you, are to lazy to make that happen for themselves. They are not leaders, but fallowers. They will live happily from pay check to pay check, yet bitch about the so called wealthy they work for. JMHO

 

[Parrish]

You must be referring to the people who actually provide jobs for those in our ranks who are not motivated enough to be a private business man. In America we are able to get out of bed, work smart, and create a means of earning a living. Most people out there, maybe even you, are to lazy to make that happen for themselves. They are not leaders, but fallowers. They will live happily from pay check to pay check, yet bitch about the so called wealthy they work for. JMHO

Oh my, you sound like an angry fallower (sic)..

 

[Parrish]

I'd love for someone to stand in the well and state how much each Senator and Congressperson who supports the tax bill, as well as their donors, will personally gain from kickbacks, new brackets, special tax treatment and provisions.

 

[MTAtech]

I'd love for someone to stand in the well and state how much each Senator and Congressperson who supports the tax bill, as well as their donors, will personally gain from kickbacks, new brackets, special tax treatment and provisions.

The GOP Tax Bill Was Manifestly Corrupt Long Before the ‘Corker Kickback’

Two weeks later, Republican leaders in the House and Senate unveiled their final, consensus tax-cut legislation. The bill was nearly identical to the one Corker had voted against, except that it added even more money to the deficit — and included a special tax break for real-estate investors that would increase Bob Corker’s personal income by up to $1.2 million a year.
...
Wisconsin senator Ron Johnson said — publicly and repeatedly — that he would vote against the Senate bill unless it provided a larger tax break to pass-through businesses, like the one that his family owns.