Quote: (12-16-2017 11:24 PM)Buck Wild Wrote:
Quote: (12-16-2017 09:04 AM)Libertas Wrote:
These losers couldn't even reduce the brackets from 7 to 3 as they promised.
Probably the most disheartening thing about this whole effort. Tax simplification should have been top priority, rather than re-jiggering the already ridiculously byzantine tax code to royally fuck the upper-middle classes.
If this passes, it's hard to see how the GOP doesn't get destroyed in 2018.
I agree that this isn't the simplicity that I had in mind when they were bragging about the postcard nonsense.
Still, for most people, they will take the standard deduction which has doubled under this plan. It will be simple for them.
The tax for corps was good with the immediate expensing. They made it more difficult by doing some sort of AMT on a territorial tax basis. I honestly don't know how they can claim we are changing to a territorial tax system yet add a minimum tax on worldwide profits. The pass-through companies and the personal side was weak.
This wasn't a major middle class tax cut like they were promising. It was a business tax cut which we did need to help our economy.
I still love that they went after the state and local tax deductions. Those liberal high tax cities can now decide if they really want to pay out of their own pockets to broaden those entitlements they love.
Still, this is much better than what we have now. I think this will keep the economic momentum, that started since Trump got elected, going past next elections.
I think Republicans are looking good for next years elections. Dems have more seats open and will be playing defensive.