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Topic: taxageddon is GO (Read 628 times) previous topic - next topic

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taxageddon is GO
think this deserves its own thread because the rough beast slouching to the white house to be born is a creature entirely of the republican congress, not trump.

Senate Passes Massive Tax Cuts For The Rich In Middle Of The Night

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WASHINGTON ― When Donald Trump was elected president last year, a sweeping rewrite of the tax code was one of his top priorities.

Throughout the campaign, Trump said he wanted a "middle-class tax cut," one that wouldn't benefit wealthy people like him and would spur huge levels of economic growth while not adding to the national debt. "For the hedge fund guys, they're going to be paying up," Trump promised in September 2015.

As president, Trump has continued to insist the tax code overhaul won't be good for himself or other millionaires. "This is going to cost me a fortune, this thing ― believe me," Trump said this week.

But the big winners in the GOP bill that the Senate passed early Saturday morning are corporations and the wealthy. Trump himself ― a self-proclaimed billionaire ― stands to gain millions through the elimination of certain taxes (though we don't know exactly how much because Trump won't release his tax returns). Far from being a middle-class tax cut, the measure is a massive corporate giveaway, a bill that recycles decades of Republican ideology on trickle-down economics and trusts that executives will hand over their new gains to average-income workers.

"If my friends here want to give a tax cut to the middle class," Sen. Sherrod Brown (D-Ohio) asked on the Senate floor Thursday, "why don't we give a tax cut to the middle class?" His argument had no effect.

After months of negotiations, the Senate passed the proposal, 51-49, with just one Republican ― Bob Corker of Tennessee ― joining all Democrats in opposition. Corker took issue with how much debt the bill would produce, and after the Senate parliamentarian struck down Corker's debt-control proposal, GOP leaders invited the retiring Republican to just vote no rather than finding him an accommodation.

With the bill finally through the Senate ― the House passed its tax bill two weeks earlier ― the two chambers still have to work out their legislative differences in a conference committee before the tax rewrite becomes law. There's a slim chance the House could adopt the Senate bill and send it to the president's desk, but it's more likely that negotiators will merge the two versions. Both chambers need to pass the same measure for the bill to become law.

For most Americans, the legislation is still indeed ― at least in the short term ― a tax cut. Those cuts are due in large part to Republicans approving $1.5 trillion in added debt over the next 10 years. But of that pie, the wealthy disproportionately benefit, and some households could wind up with higher tax bills. The richest 20 percent of households reap 90 percent of the benefit of the tax cuts over that time period, according to the nonpartisan Tax Policy Center.

Still, in the short term, it's difficult to say exactly whose taxes go up and whose go down. Tax burdens depend on what deductions individual filers claim, and this bill is a complicated tax code rewrite ― one that analysts say will have limited impact on the economy, will cost the nation more than a trillion dollars over the next 10 years, and will do much more for rich investors than it will the middle class.

Despite all that, despite poll after poll showing the measure is unpopular, most Republicans were ecstatic to pass the bill.

While the bill took months to draft, the final package came together over a frenetic last few days. Republicans didn't even have finished legislative text until Friday night, hours before the vote, and Democrats slammed their GOP colleagues for rushing through a bill that was cobbled together with handwritten changes and crossed-out pages at the last minute.

Those procedural concerns did nothing to slow the bill, however, with Republicans falling in line to vote down a Democratic motion to adjourn Friday night. Senators then began a so-called vote-a-rama, in which amendments get up-or-down approval one after the other until lawmakers are exhausted enough to stop. Eventually, in the early hours of Saturday morning, senators moved to a final vote on the reconciliation bill, and it passed.

post your favorite horrifying tidbits about this great advance for Freedom! mine is that the actual text of the bill voted on included additions in handwriting in the margins.
  • Last Edit: December 02, 2017, 05:11:37 AM by the idea of Harambe

Re: taxageddon is GO
Reply #1
for what it's worth, corey robin thinks there is a little cause for optimism: https://www.facebook.com/corey.robin1/posts/1574143002651415

Re: taxageddon is GO
Reply #2
ALSO it's worth noting that in as much as the GOP is getting pressure from its donors to pass any old fucking tax thing, it's going to be tricky for dems to oppose it on the most fruitful lines: class warfare.

Dem donor on MSNBC: 'Hopefully we'll get our sh-- together'

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A major Democratic donor on Tuesday warned the party against straying away from centrist positions, adding he hopes Democrats "get our sh-- together" before the 2020 elections.

🤔

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"Good question," Las Vegas businessman Stephen Cloobeck said on MSNBC when asked why Democrats have had so few election successes against an increasingly right-leaning GOP.

"A sad state for us," he continued.

🤔 🤔

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Cloobeck, who donated $1 million last year to Hillary Clinton's allied super PAC, Priorities USA Action, told MSNBC's Stephanie Ruhle that he'll cut off funds to the party if it moves too far to the left on economic issues following President Trump's win last year.

"I can tell you if we go far left, I'm out," Cloobeck said. "I'm out. We need middle ground."

"It drives me nuts. So much so it would make me quit the party," he added. "And I've made it very clear; I'll cut your money off. And others will do the same. We've had enough. We need a new brand."

🤔 🤔 🤔

eta:


  • Last Edit: December 02, 2017, 05:35:28 AM by the idea of Harambe


Re: taxageddon is GO
Reply #4

  • el jefe
  • asleep till 2020 or 2024
Re: taxageddon is GO
Reply #5
honestly more mad that this gives trump a victory than anything else.  and that's not because I don't like trump.  it's because, for the good of the country, his presidency needs to be a big failure.

Re: taxageddon is GO
Reply #6
i mean, nobody likes this bill, except the death cult that will never abandon him (until they do) anyway. so how much of a victory is this?

anyway, i am mad about all the people who will die because of it! but it's important to note that it now has to go through the long and tortuous process of reconciling the house and senate bills so it ain't over yet.

Re: taxageddon is GO
Reply #7
House will pass the Senate bill early next week imo

Re: taxageddon is GO
Reply #8
ALSO it's worth noting that in as much as the GOP is getting pressure from its donors to pass any old fucking tax thing, it's going to be tricky for dems to oppose it on the most fruitful lines: class warfare.

Dem donor on MSNBC: 'Hopefully we'll get our sh-- together'

Quote
A major Democratic donor on Tuesday warned the party against straying away from centrist positions, adding he hopes Democrats "get our sh-- together" before the 2020 elections.

🤔

Quote
"Good question," Las Vegas businessman Stephen Cloobeck said on MSNBC when asked why Democrats have had so few election successes against an increasingly right-leaning GOP.

"A sad state for us," he continued.

🤔 🤔

Quote
Cloobeck, who donated $1 million last year to Hillary Clinton's allied super PAC, Priorities USA Action, told MSNBC's Stephanie Ruhle that he'll cut off funds to the party if it moves too far to the left on economic issues following President Trump's win last year.

"I can tell you if we go far left, I'm out," Cloobeck said. "I'm out. We need middle ground."

"It drives me nuts. So much so it would make me quit the party," he added. "And I've made it very clear; I'll cut your money off. And others will do the same. We've had enough. We need a new brand."

🤔 🤔 🤔

eta:




FWIW Durbin vote was some arcane Senate procedure thing so they can bring it up again in the future

  • SkepticTank
  • Global Moderator
  • Calmer than you are

Re: taxageddon is GO
Reply #10
Hopefully people remember this next time they visit the polls sporting goods department

Re: taxageddon is GO
Reply #11
AUAUAHAAHAHHAAHAHAHAHAHHAHAHAHAHAHAHAHAHhAH VICTORY VICOTRY

TAKE IT IN  THE ASS LIBTURD

next step : free-market internet and healthcare. Nothing will stop freedom from ringing again after 8 eight years of Oblackma "Revolution" that just plummeled wealth and power from the tax payers hard-working decent american to the crony capitalists who smashed american economics, Hillary Clinton fake corporate feminism like 200 FUCKING K DOLLATS for speaking at GS meeting and claiming that real feminism is working less and being paid the same as man
  • Last Edit: December 02, 2017, 07:42:03 AM by SmartLibertarian

Re: taxageddon is GO
Reply #12
buddy, if you think "libturds" are the only ones getting fucked in the ass by this... :sad:

Re: taxageddon is GO
Reply #13
buddy, if you think "libturds" are the only ones getting fucked in the ass by this... :sad:

The only people fucked are the failure and the cracks who can't do nothing except relying on government handouts, fucking sob with all their poor story "oh noes I can't afford obamacare" but they have always the last Ipods and cable internet, are top 10% by world standards like if you are poor in the US you probably are living better that king of the past who didn't have access to 4k porn, videogame, hot shower and airplane.

You should be grateful that capitalism created everything you see instead of blaming the free market for being lazy sob who worked at MC while people were studying for being doctors or quartz.

I believe that most of these poor people don't even know what an ARIMA model is or what is a stochastic equation

The people in the US didn't vote Donald Trump, they vote Ayn Rand because she was the only one who said the truth about leftism while Bernie Sanders was meeting with Che Guevara at Havana
  • Last Edit: December 02, 2017, 08:01:27 AM by SmartLibertarian

Re: taxageddon is GO
Reply #14
Here I thought SL died fighting for ISIS in Kirkuk

Re: taxageddon is GO
Reply #15
NOW you leftists will call me names etc and I'm going to remind you all fucking tards that I'm the real silent majority not only of this country but of the fucking entire world, like the vast majority of people agrees with me only you five wackos living in a echo-chamber, idiot idealist college student without real world experience brainwashed by their cultural marxist professors still believe in the lie of liberalism.

Communism has always been a failure everything has been tried but ehy just another time, with Comrade Hillary instead of Comrade Lenin this time prosperity will arise!! OPS NOBODY VOTED FOR goldman sharks killary


EVERYONE WITH ME NOBODY WITH YOU

Re: taxageddon is GO
Reply #16
The people in the US didn't vote Donald Trump,
well, you got one thing right.

Re: taxageddon is GO
Reply #17
More like FartLibertarian

Re: taxageddon is GO
Reply #18
More like FartLibertarian

 :rofl:  :rofl:  :rofl:  :rofl:  :rofl:  :rofl:

Re: taxageddon is GO
Reply #19
ShartLib, really. Those tighty-whiteys aren't going to survive

Re: taxageddon is GO
Reply #20
The world might have been a better place if James Thomas Hodgkinson had better aim and a posse

  • meepmeep
  • Administrator
  • zombiecat queen
Re: taxageddon is GO
Reply #21
Was going to point out that we already have a tax thread but it's better to have you all shit this one up instead

Re: taxageddon is GO
Reply #22
we can fill this one up with 400 pages of notes from lobbyists with handwritten modifications in the margins

Re: taxageddon is GO
Reply #23
and then pass it on party lines in the middle of the night

Re: taxageddon is GO
Reply #24
Was going to point out that we already have a tax thread

??

eta:

Quote
it's better to have you all shit this one up instead

 :smith: