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Post By
bd2999

Member Since: Sat May 17, 2008
Posts: 15,313
In Reply To
Norvell

Member Since: Sun Jan 02, 2011
Posts: 2,113
Subj: Re: The $1000 tax cut for Middle Class.
Posted: Wed Dec 20, 2017 at 01:35:40 pm EST (Viewed 178 times)
Reply Subj: The $1000 tax cut for Middle Class.
Posted: Wed Dec 20, 2017 at 12:19:11 pm EST (Viewed 178 times)



    Quote:
    Maybe I don't understand American money, but it seems like the Republicans just traded (or at least crippled) affordable health care for what amounts to about $85 a month in Middle Class savings.


Oh, they just took one of the main legs out from under it without any sort of plan to help prop the system up. None even on the radar at all.

The extra money to a middle class person could at least be argued for, at least I think. If we were in need of economic stimulus. At least that is money likely to be spent and put back into the economy to drive things along.

Much of the tax bill leans heavily towards companies, pass through companies and the wealthy. The doubling of the standard deduction helps the standard person, but it also has to offset numerous things that GOP took out that benefited the middle class or poorer individuals.

Removing the Estate tax did nobody any favors other than a very small few.


    Quote:
    $85 would be a nice boost in income if you're on welfare, or selling pencils from a cup on the streets of New York.


I would take an extra $85. Most people would. The irony is that the middle class tax cuts in the bill, or many of them, sunset eventually.


    Quote:
    The fact that Americans are even given this pittance is a testament to what politicians think of the American people and the middle class.


I think there are numerous hypocrisies here. This bill is uber unpopular. Most seem to know how bad it is for everyday people. Keep in mind it is tracking around 10-15% less popular than when the ACA was passed and there were numerous campaigns against it. That is telling. And the method they passed it was probably the most hyperpartisan rushed thing that has made it through in recent times. And for something as critical as the tax system.

They did not even pretend to reach across the isle.


    Quote:
    Merry Christmas?


It is something. Also, this thing goes into affect next year. So, the IRS and companies have 12 days to adjust their systems. On something that is fairly poorly written in places.

It also makes zero sense to do most of the stuff in the bill at the moment. At least in the sense that they are trying to sell it. More jobs or better paying jobs are not going to be created hand over foot by this. Nor massive economic growth. Some growth will happen, but the job market is already having issues finding people for some jobs.

So, not sure what the goal with that is going to be. And with the zeal to get immigrants out there will not be enough bodies to replace them. So, we get an increased defict and debt (something often harped on by the GOP) with no real clear benefit. I guess they could argue the under employed would move into better paying jobs but that still is not enough to make up for the difference is lost revenue.




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