The Republican controlled House of
Representatives passed their version of a "tax reform" bill Thursday.
And there's good reason every rich
guy in every gated community
in America was a hootin' and a hollerin' Thursday night and all smiles
Cheshire cat that ate the mouse.
The same reason the CEO's at every
huge corporation in
America were passing out imported champagne at the executive team
They got stroked sweet and good and
sexy by that bill, while
you working stiffs got shoved to the back of the bus. No, make that run
We got a kick out of the New York Times editorial board's
opinion piece headlined: "A Tax-Cut Bill to Make Scrooge
The piece notes
proposals were bad from the
get-go. But they have become steadily worse as they have been turned
bills...consider the latest changes to the Senate tax-cut bill being
by the majority leader, Mitch McConnell, and his merry band. It
generous permanent tax breaks on corporations, while modest tax cuts
middle class would vanish into thin air after 2025. Millionaires would
average tax cuts of $5,580 in 2027, according to the Joint
Committee on Taxation, at which point families earning less
than $75,000 a
year would pay more taxes."
"Let that sink
in. This tax bill would take
money from working families and give it to the world’s wealthiest
hardest hit would be in high-cost states like California, New Jersey
York because the bill gets rid of important deductions and the credit
and local taxes."
Is that too
much for TV? Taking money from you and
your kids to give it to guys like billionaires Bill Gates and Donald
his kids. You gotta admire, in a weird way the big brass ones those
lawmakers have to have to pass a steaming, stinking pile of mule dung
nastiness of the Republican Senate bill gets
better. It calls for the repeal of Affordable Health Care Act’s mandate
most people to have health insurance.
And what would
that mean? It would leave 13 million
people without health insurance and drive up premiums for other
of who are already struggling to afford health care -- all in the
notes the Times piece "Of reducing
spending by $338 billion so Republican lawmakers can cut
taxes for big
businesses, despite Democratic opposition."
And it gets
better. This Senate bill, along with the
very similar one that passed in the House on Thursday will trigger
cuts to Medicare, "And other important programs that low-income and
middle-class Americans depend on. All told, the bills would add more
trillion dollars to the federal debt for future generations to pay
notes the Times piece.
Oh. And if
you're a graduate student, that House
passed bill has a little provision hidden away inside it that will
bankrupt many a grad student. Read more on that here.
And if you're a
black American, boy are you gonna get
hammered and hammered good by this GOP "tax reform" nightmare. It's a
5-way screw job for you and yours. Check that out here.
Do you get the
picture NOW just who in America this new breed of far
right wing Republican is trying to serve? Not you Mr. bricklayer
construction worker or single mom working two restaurant jobs and a
cleaning houses on weekends to get buy.
Not you Ms.
grocery check out counter person. Not you
the night stocker at Walmart or the auto mechanic or the college
elderly man barely scraping by on your Social Security check.
Why are these
Republicans doing this? Simple. Sen.
Lindsey Graham of South Carolina said it out right: “the
contributions will stop” if Congress fails to pass a tax cut
already fat and rich.
And to a
lawmaker, money is like oxygen. If that
stops, they stop and sooner or later they'll all be voted out of office
then, god forbid, will have to go get a real job in the real economy
produce and sell something of value.
Moneywatch notes that, "For the 572,000
or so taxpayers who earn more than $1 million per year (the Senate
tax reform) would
provide billions in lower payments to Uncle Sam over the next
decade, according to a new report from the Joint Committee on Taxation (JCT),
nonpartisan committee that analyzes tax-related issues."
picture isn't as rosy for taxpayers who earn less than $75,000 per
however. While the group would benefit from an initial tax cut in 2019,
would reverse over the next decade. By 2027, all households earning
$50,000 and $75,000 would contribute almost $4 billion more per year in
the study found. Millionaires in 2027 would contribute $5.6
than under current law."
see now, do you not, who is getting hosed
and who is being handed buckets and bucket of new, free money on this
tags: tax reform, Mitch McConnell, Donald Trump