@Finn dAbuzz,
Finn dAbuzz wrote:
According to the WaPo Fact Checker - The Dems propaganda in response to this plan is worth 4 Pinocchios which is just short of the top lying spot.
You should work on your reading comprehension. The WaPo fact checker went up against the Dem claim that 'middle class taxes would rise for most taxpayers.' Not that it's not a giveaway to the wealthy, which it certainly is.
Here's an actual link to the article - why don't you go ahead and point out what it says that's contradictory to what I wrote:
https://www.washingtonpost.com/news/fact-checker/wp/2017/11/02/senate-democrats-falsely-claim-gop-tax-plan-will-raise-taxes-for-most-working-class-families/
Quote:But keep on spreading the bilgewater.
Amusing considering the error you made above
Quote:What do you consider the "very wealthy?"
Those with income, mostly in the form of investment income, that fall in the top 1% of all taxpayers. The currently proposed tax bill is a MASSIVE boon to them. It cuts their taxes in every conceivable way other than the actual top-line rate on earned income of 39.5% (which remains unchanged). That's a red-herring, though, as the very wealthy earn next to none of their income as direct compensation.
The bill has multiple giveaways that are specifically designed to help the quite wealthy, in addition to the corporate tax cuts and removal of the AMT. It caps SALT deductions - but not from investment income, so the very wealthy in blue states wouldn't be hurt at all. It completely removes the Estate tax within 6 years.
Here's an egregious one for you: It changes corporate tax rules on pass-through organizations (ostensibly to combat your doctor and lawyer from self-incorporating) but exempts from these changes, guess what? Real estate corporations! Guess whose companies will all pay massively less tax under this bill?
The bill is a legit giant giveaway to the wealthy, I can't imagine you can put together a cogent argument otherwise based on the facts of the current bill. The middle-classes and lower-classes will receive only tiny amounts of tax relief, and if you live in about 10 states, you're likely to receive no relief at all.
Cycloptichorn