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highplainsdem

(61,923 posts) Thu Nov 2, 2017, 10:05 AM Nov 2017

CNN Breaking News - GOP tax plan details [View all]

Corporate tax rate slashed tos 20%, permanent cut.

Will leave 39.6% top rate.

Will leave property tax deduction for state taxes up to $10,000. NO deductions left for other state/local taxes.

Will reduce mortgage interest deduction (on new mortgages up to $500,000, preserves deduction on existing mortgages), student loan deductions.

18 replies

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CNN Breaking News - GOP tax plan details [View all] highplainsdem Nov 2017 OP

Crickets superpatriotman Nov 2017 #1

CNN saying House leaders still not certain they'll have enough votes if they scrap those state/local highplainsdem Nov 2017 #2

That's a real economy killer C_U_L8R Nov 2017 #3

If the Dems can win in 2018 running against this plan Johonny Nov 2017 #4

should be can't dsc Nov 2017 #13

It's a tax cut for corporations. madaboutharry Nov 2017 #5

That was obviously their main goal. highplainsdem Nov 2017 #6

Who will pick up the slack? republicans dumping it on Americans Achilleaze Nov 2017 #14

I admit I know nothing about economics/taxes. OliverQ Nov 2017 #7

no way it passes in this form, I think, at least not the Senate. Adrahil Nov 2017 #9

WOW.... what an awful bill. Adrahil Nov 2017 #8

Deliberately targets blue states with higher costs of living, taxes, home prices. nt procon Nov 2017 #10

They basically giving Democrats Congress Thrill Nov 2017 #11

"preserves deduction on existing mortgages" Azathoth Nov 2017 #12

This Seems Highly Unproductive ProfessorGAC Nov 2017 #16

Yes, or renters that never bought and are trying to save to buy Johonny Nov 2017 #17

Coward Ryan on teevee now superpatriotman Nov 2017 #15

Technically, it works if not a single person is fired as a result. HughBeaumont Nov 2017 #18