patrick.net

Well it's better than Obama's tax plan and at least you to read it before they passed it.

https://www.msn.com/en-us/money/taxes/the-republican-tax-bill-got-worse-now-the-top-1percent-get-83percent-of-the-gains/ar-BBH0aay?li=BBmkt5R&ocid=spartandhp

"By 2027, over half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans, a new analysis by the Tax Policy Center finds. That year, 82.8 percent of the bill’s benefit would go to the top 1 percent, up from 62.1 under the Senate bill.

And even in the first years of the bill's implementation, when it’s an across-the-board tax cut, the benefits of the law would be heavily concentrated among the upper-middle and upper-class Americans, with nearly two-thirds of the benefit going to the richest fifth of Americans in 2018."

It's remarkable at this day and financial situation, that the Republicans have convinced their people that giving 83% of 1.5 billion to the richest 1% is what is best for our country. This is a time when the gap between the richest and poorest is huge. Only 16 yrs or so ago, Bush turned a surplus into a deficit with his tax cuts, which also led to bad debts, a housing bubble, and a stock bubble and crash, and didn't fix the wage gap. This is after 8 yrs of Republicans beating Obama over the head about debt. At least Obama didn't give a massive tax cut at the time to exacerbate it. Now that we're 8 yrs into a recovery, the Republicans want to hit the gas. It's like reverse Keynes theory.

FNWGMOBDVZXDNW says

This is a time when the gap between the richest and poorest is huge.

So, where should the tax cuts go, to the 47% of people paying ZERO in federal taxes now?

HappyGilmore says

By 2027, over half of all Americans

It's 2017 now, does anyone know what will be going on in 10 years? To make predictions what will happen a decade from now is nonsense.

FNWGMOBDVZXDNW says

giving 83% of 1.5 billion to the richest 1%

Considering that this fraction of the population pays something like 30% of all taxes, isn’t 1.5 billion a mere rounding error? Having a hard time summoning the outrage.

Quigley says

Considering that this fraction of the population pays something like 30% of all taxes, isn’t 1.5 billion a mere rounding error? Having a hard time summoning the outrage.

Yes, it's actually $1.5 Trillion. So, no, not a rounding error.

HappyGilmore says

Yes, it's actually $1.5 Trillion. So, no, not a rounding error.

That $1.5 T is over 10 years, not one year. Better bone up on your math skills.

HappyGilmore says

By 2027, over half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans,

Does that include the 47% who don't pay anything NOW? They should pay into the system for the federal services they receive on a daily basis.

anon_ad5b0 says

FNWGMOBDVZXDNW says

This is a time when the gap between the richest and poorest is huge.

So, where should the tax cuts go, to the 47% of people paying ZERO in federal taxes now?

Why do we need tax cuts? Economy is doing fine. Why hit the gas? Definitely not conservative.

ThreeBays says

Tax cuts for everyone at peak economic cycle. Isn't this tax cut going to turn into inflation? Hope you don't rent your roof...

Hell yeah

anon_c12ea says

Does that include the 47% who don't pay anything NOW? They should pay into the system for the federal services they receive on a daily basis.

They do. IT's called payroll taxes and medicare. Without payroll txes we wouldn't be able to afford the tax cuts we're giving the rich. What do you think we have some kind of "lock box" or something ?

anon_c504a says

Why do we need tax cuts? Economy is doing fine.

Because they want to blow up the deficit, so they can cut entitlements. Actually that's just a side benefit. It's called more for us and less for you. The "us" being the folks that don't actually work for a living.