You can say what you want, but this is a republican tax bill no matter who it benefits. It was supposed to benefit the rich, and thats what it does (I'm sure if it was possible to isolate by party they would have done so). It won't discriminate in who it hurts in the long run either (the middle class and the poor, like usual). The wealthy are going to take 90% of whatever economic gains result, they won't end up in schools or in communities, again like usual. Unemployment is already low and cant go much lower without even more illegal immigrants and wages will probably continue on their current trajectory and we'll be arguing for the next decade about who is to blame. My guess is some hidden variable will be scapegoated to explain why it didn't work.
[0] https://www.nytimes.com/interactive/2017/12/19/us/politics/t... [1] https://www.nytimes.com/interactive/2017/12/19/us/politics/t...
It actually does seem to do that fairly effectively from my understanding, by restricting the deductions those in high tax states (ie Democrat) can claim.
The question is, in the long run, does that couple grand benefit us more than it costs us in terms of long term deficits, reductions in government services, etc?
The "hell yeah I'll take more money anyday!" mentality is what they depend on to sell the bill and it works.
[0] https://www.npr.org/2017/11/14/562884070/charts-heres-how-go...
I should have said it disproportionately benefits the rich and in the long run I think it probably does only benefit the rich because the middle class and the poor will be hurt by the cuts necessary to pay for the thing and the resulting deficits.
Here are examples of the "liberal media" saying its disproportionate, not that it only benefits the rich. I hate to break it to you, but most of the "liberal media" is pretty nuanced, it may not say what you want but you don't see nearly as much "always/never" as you would expect.
[1] https://www.npr.org/2017/11/14/562884070/charts-heres-how-go...
[2] https://www.pbs.org/newshour/politics/how-the-senate-tax-bil...
https://www.wsj.com/articles/top-20-of-americans-will-pay-87...
[1] https://www.forbes.com/sites/kellyphillipserb/2018/03/07/new...
No, I'm not. Do the calculations yourself.
https://www.calcxml.com/calculators/trump-tax-reform-calcula...
I get that it's hard to believe at first how insane this new bill is. I was in absolute disbelief when I first did the numbers.
A single person earning $100,000, claiming the standard deduction, will have a total federal tax liability of $15,410 for 2018, or an effective rate of 15.4%.
I needed the tax cut. If you don’t, you don’t have to keep it. I am a better steward of my money than the government, especially when it comes to saving and investing for my family’s future.
Really, ok what have you done with your money? How many buses do you run? How many schools, roads, armies?
It's not as if there is an objectively correct amount of taxation, the matter is up for debate. To the founders of the country, for example, the federal tax rate in the US as it is today would constitute an obscene violation of their expectations.
Unless you're taxing them federally for provisions outlined in the constitution, I'm inclined to disagree that they wouldn't have a problem with it.
I certainly didn't need a tax cut. You say you needed a cut, so maybe you did and maybe we should cut your taxes, leave mine alone, and tax raise taxes on people making a lot more.
If you think lobbyist-driven tax policy in America is ONLY done by Republicans, you should probably expand your reading beyond CNN / WashPo. You're right that the federal government that creates the tax policy is for sale, but it's not just the Republicans.