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rgbecker

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Member since: Mon Oct 2, 2006, 09:23 PM
Number of posts: 4,085

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Quick calculation shows tax bill is no tax cut for middle-class individuals in the aggregate

Currently corporations pay about 300 billion/year. A 40% tax rate reduction should result from the cut in rates from 35 to 20% (+ or -). If so, that reduction results in a revenue loss of 120 billion a year. The bill is reputed to result in only a 150 billion deficit per year. Special treatment for high income businesses like doctors, lawyers, and other privately held companies set up as partnerships and sole proprietorships and the drop in top rate easily sops up the remaining 30 billion difference, leaving nothing for you and me.

The promised savings from the doubling of the standard deduction will be negated by the ending of the personal exemptions leaving most with little to no cut. Those with children will gain a credit, but will lose the exemption for a small savings. Other than that, unless the tax tables are shifted quite a bit to higher marginal income levels, I'm not seeing that there will be a big change to peoples' withholdings from paycheck that will give the GOP any boost for next year's midterms.

As one said, "a tank of gas a month" at the cost of 13 million losing health care and the rest paying 10% higher premiums.

Please tell me Jones will be immediately sworn in.

Please tell me he and Corker and Collins will stop the GOP tax bill next week.

Total defeat of McConnell/Ryan and Trump's legislative initiative.

Does someone know when Jones starts? Haven't seen anything about the timing.

Gillibrand and her group have effectively taken the Republican raid on the IRS out of the news cycle

Not one post about the "Tax Cut" bill on the DU list. If Moore wins it will be because of the tax policy rather than his dating teenagers.

Come on people!

Does anyone have any thoughts on why Judge recused himself from Flynn Case?

https://www.cbsnews.com/news/judge-in-mike-flynns-case-recuses-himself/

Just saw this and I see no one is saying why. Was he concerned about new RW charges that the Mueller investigation is tainted by Trump hating agents? This is troubling for me and I would like to know what's up.

Trump's move to recognize Jerusalem is an invitation to terrorists...

to attack. He will then have his 9/11 which will scare the Americans into his waiting arms. W. Bush was basically on the way to the trash heap when the towers were struck, then his ratings soared. Trump needs such a boost and he knows the best way would be with a terrorist attack rather than war with NK...although both would suit his needs.

LOL! Sean Hannity, low tax, small government promoter, raised by two government workers!

Seems his parents both worked in the court systems of NY. Reminds me that Paul Ryan, Social Security cutter, collected off his parents' survivor policy til he obtained majority.

What is with these guys?

https://www.nytimes.com/2017/11/28/magazine/how-far-will-sean-hannity-go.html?rref=collection%2Fsectioncollection%2Fmagazine&action=click&contentCollection=magazine®ion=rank&module=package&version=highlights&contentPlacement=2&pgtype=sectionfront&_r=0

Did people really think it was only Priests who were abusing children, women and basically everyone?

The Pope underestimated his problem just as the press and public is underestimating the current trending turmoil. We won't see the end anytime soon and it will mean billions of dollars in the end.

Lots of differences between House and Senate GOP tax bill.

Senate is stuck with meeting goal of only 1.5 trillion debt increase after 10 years and while the house bill is awful, the insurance mandate repeal will probably be necessary to get it past Senate accounting.

Here's a short article listing the differences they have found so far.

https://www.vox.com/policy-and-politics/2017/12/2/16724738/senate-tax-vote-house-bill-differences

You'll want to have this scorecard at the ready over the next couple of months.

US Presidential line of sucession:

No. Office Current officer
1 Vice President Mike Pence (R)
2 Speaker of the House of Representatives Paul Ryan (R)
3 President pro tempore of the Senate Orrin Hatch (R)
4 Secretary of State Rex Tillerson (R)
5 Secretary of the Treasury Steven Mnuchin (R)
6 Secretary of Defense James Mattis (I)
7 Attorney General Jeff Sessions (R)
8 Secretary of the Interior Ryan Zinke (R)
9 Secretary of Agriculture Sonny Perdue (R)
10 Secretary of Commerce Wilbur Ross (R)
11 Secretary of Labor Alex Acosta (R)
12 Secretary of Health and Human Services Eric Hargan (R)[a]
Acting
13 Secretary of Housing and Urban Development Ben Carson (R)
Secretary of Transportation Elaine Chao (R)
14 Secretary of Energy Rick Perry (R)
15 Secretary of Education Betsy DeVos (R)
16 Secretary of Veterans Affairs David Shulkin (I)
17 Secretary of Homeland Security Elaine Duke (I)[a]
Acting

This listing assumes that acting officers whose prior appointment required Senate confirmation are eligible for the line of succession. See Acting officers below.
Not a natural-born citizen (acquired U.S. citizenship by naturalization) and thus ineligible for the Presidency.



Excuse me, I need to go throw up.

Let's talk GOP tax bill and budget process!

I'd like to know exactly how the GOP congress intends to bring their tax break for the rich to completion. When will the bill actually be completely finished and when will the required votes occur? Will it be worked through a committee or will it be like Trumpcare and arranged by 12 old white guys in a backroom somewhere?

I've read that the GOP isn't completely together about tax deduction removals, Standard Deductions, Estate tax so I'm wondering if there is even a remote possibility that this could pass.

It has been reported that a vote was taken last Thursday that moves the budget along that will facilitate the tax plan but I'm feeling uninformed.

Anybody following this who could help a guy out? Point me to sources if you don't want to explain it yourself.

I read the nice report about the Harvard/Yale/Wall Street guy helping Secretary Treasurer, but nothing about where exactly we are on this.

As always, Thanks.
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