White House Trumpets Tax Cut as Biggest in History

[elleng]

https://www.nytimes.com/2017/04/26/us/politics/trump-tax-cut-plan.html?

We KNOW what that means, biggest DEFICITS in history coming, and Democratic administrations will clean up for ALL of us.

[Botany]

1. And the next democratic president will be blamed for the deficit too

and republicans will not say word one about the debt or the deficits as long as
a Republican is in the White House.

[C_U_L8R]

2. Our country is being kneecapped

By self-absorbed Republican traitors.
Anything for a f'n buck.

[elleng]

3. Has been for years,

and as they've been destroying education (public and otherwise) for years, many don't know it/can't see it.

[Botany]

4. along w/the Post Office and Science too

elleng

[elleng]

6. ABSOLUTELY!

Gotta get outta here and take a breath of clean (DEM/MD) air.

Botany

[Botany]

10. I was just in western MD about a month ago

New Germany State Park

But in the areas around it in rural MD, VA, and W.V. that was very much Trumpland.

Poor shack in the hills w/not a pot to pee in but they had their Trump, NRA, and Rebel
flags flying.

we should be able to crush the GOP .... they are against; Schools, the Post Office,
roads, bridges, health care, the minimum wage, overtime pay, and medicaid. hang that
shit around their necks along w/Trump. But they own the voting machinery.

[elleng]

12. Yes, we should be able to 'crush' them, and do pretty well in MD and VA. WVa's another story, but

they have a Dem governor, so we shall see.

[Fritz Walter]

5. Voodoo economics redux

Drumpf thinks he's Ronnie Raygun reincarnated.

[elleng]

7. You are very generous, saying he 'THINKS!'

[BumRushDaShow]

8. From the link

<...>

Beyond cutting the tax rate to 15 percent for large corporations, which now pay a rate of 35 percent, Mr. Trump also wants that rate for a broad range of firms known as pass-through entities — including hedge funds, real estate concerns like Mr. Trump’s and large partnerships — that currently pay taxes at individual rates, which top off at 39.6 percent.

Acknowledging concerns that such a move could potentially be used as a tax shelter, Mr. Mnuchin insisted on Wednesday that the administration’s plan would not be used as a loophole to allow people to pay less tax than they should be paying.

The concern would be that lawyers, doctors, consultants or other wealthy people in partnerships could structure much of their personal income as business income, effectively reducing their tax rate from 39.6 percent to 15 percent.

“We don’t need a tax plan that allows the very rich to use pass-throughs to reduce their rates to 15 percent while average Americans are paying much more,” Senator Chuck Schumer of New York, the Democratic leader, said Wednesday. “That’s not tax reform. That’s just a tax giveaway to the very, very wealthy that will explode the deficit.”

https://www.nytimes.com/2017/04/26/us/politics/trump-tax-cut-plan.html

That proposal would basically be similar to what happens with hedge fund managers who receive "compensation" that is a percentage of the fund, which is not considered "personal income", and is thus taxed at the (lower) capital gains rate vs the (higher) income tax rate for a similar amount.

[awesomerwb]

9. I hope the dems (sigh) will show some spine here (sigh)

I think the dems need to be more proactive about informing the public about stuff like this.

History will repeat itself....and a Dem will have to clean up the mess (or try).

[MFM008]

11. right

but this is not going anywhere.
DOA.
deceased.
extinct.