$1.5 Trillion GOP Tax Cut Thread
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  $1.5 Trillion GOP Tax Cut Thread
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Author Topic: $1.5 Trillion GOP Tax Cut Thread  (Read 109157 times)
Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #100 on: October 19, 2017, 08:17:48 PM »
« edited: October 19, 2017, 08:22:51 PM by Dwarven Dragon »

Mr. Perdue proposes an amendment, #1167 (To establish a deficit-neutral reserve fund relating to significantly improving the budget process). The amendment is adopted by voice vote.
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #101 on: October 19, 2017, 08:19:40 PM »
« Edited: October 19, 2017, 10:03:26 PM by Dwarven Dragon »

Mr. Enzi proposes an amendment, #1116 (To insert all agreed-to amendments into the budget, end the amendment period, and proceed to a final vote on the resolution). The amendment is agreed to by voice vote.

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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #102 on: October 19, 2017, 08:20:23 PM »

FINAL VOTE ON BUDGET RESOLUTION NOW OCCURING
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boske94
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« Reply #103 on: October 19, 2017, 08:22:35 PM »

FINAL VOTE ON BUDGET RESOLUTION NOW OCCURING
No drama this time. It will likelly pass by 51-49 (Paul as only R NO)
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Southern Senator North Carolina Yankee
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« Reply #104 on: October 19, 2017, 08:33:03 PM »

51-49
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #105 on: October 19, 2017, 08:33:26 PM »
« Edited: October 19, 2017, 10:04:48 PM by Dwarven Dragon »

BUDGET RESOLUTION PASSES 51-49. On to the house.

NAYs ---49
Baldwin (D-WI)
Bennet (D-CO)
Blumenthal (D-CT)
Booker (D-NJ)
Brown (D-OH)
Cantwell (D-WA)
Cardin (D-MD)
Carper (D-DE)
Casey (D-PA)
Coons (D-DE)
Cortez Masto (D-NV)
Donnelly (D-IN)
Duckworth (D-IL)
Durbin (D-IL)
Feinstein (D-CA)
Franken (D-MN)
Gillibrand (D-NY)
Harris (D-CA)
Hassan (D-NH)
Heinrich (D-NM)
Heitkamp (D-ND)
Hirono (D-HI)
Kaine (D-VA)
King (I-ME)
Klobuchar (D-MN)
Leahy (D-VT)
Manchin (D-WV)
Markey (D-MA)
McCaskill (D-MO)
Menendez (D-NJ)
Merkley (D-OR)
Murphy (D-CT)
Murray (D-WA)
Nelson (D-FL)
Paul (R-KY)
Peters (D-MI)
Reed (D-RI)
Sanders (I-VT)
Schatz (D-HI)
Schumer (D-NY)
Shaheen (D-NH)
Stabenow (D-MI)
Tester (D-MT)
Udall (D-NM)
Van Hollen (D-MD)
Warner (D-VA)
Warren (D-MA)
Whitehouse (D-RI)
Wyden (D-OR)
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boske94
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« Reply #106 on: October 19, 2017, 08:34:35 PM »

BUDGET RESOLUTION PASSES 51-49. On to the house.
On to the conference.
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #107 on: October 19, 2017, 08:36:24 PM »


The house could just pass the senate's language.
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boske94
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« Reply #108 on: October 19, 2017, 08:38:36 PM »


The house could just pass the senate's language.
But probably won't because we haven't seen any late night amendment to appease the House (what some media reported)
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« Reply #109 on: October 19, 2017, 09:00:00 PM »

So at this point Rand Paul has become even more of a right winger than Cruz.
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Pyro
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« Reply #110 on: October 19, 2017, 09:25:17 PM »

This wealthy wank is going to crash the economy.
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Frodo
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« Reply #111 on: October 19, 2017, 09:30:40 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.

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True Federalist (진정한 연방 주의자)
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« Reply #112 on: October 19, 2017, 09:46:07 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.
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Southern Senator North Carolina Yankee
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« Reply #113 on: October 19, 2017, 09:47:46 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

Doesn't this all expire in ten years since it is being done with budget reconciliation?
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #114 on: October 19, 2017, 10:01:17 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

Doesn't this all expire in ten years since it is being done with budget reconciliation?

Unclear. What they're passing now is just a budget to let them use reconciliation, the actual tax reform bill comes later. The rule is 10 years only if it adds to the deficit, permanent if it doesn't. There's actually been some discussion of passing a bill with some permanent provisions and some temporary provisions. And as we saw with the bush tax cuts, when that 10 year deadline does come, there will be immense pressure on politicians to extend at least some of the cuts.
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Southern Senator North Carolina Yankee
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« Reply #115 on: October 19, 2017, 10:08:28 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

Doesn't this all expire in ten years since it is being done with budget reconciliation?

Unclear. What they're passing now is just a budget to let them use reconciliation, the actual tax reform bill comes later. The rule is 10 years only if it adds to the deficit, permanent if it doesn't. There's actually been some discussion of passing a bill with some permanent provisions and some temporary provisions. And as we saw with the bush tax cuts, when that 10 year deadline does come, there will be immense pressure on politicians to extend at least some of the cuts.

But eventually, the ones for the highest incomes were not extended.

Frankly I am beginning to coming around to wanting this to pass now for the sake of the corporate tax code reform and the simplification of the code. I think that will be of immense benefit to the economy. I am disturbed by the adding to the deficit obviously, in the mean time. But if this fails, I doubt it will ever get done.

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Frodo
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« Reply #116 on: October 19, 2017, 10:15:54 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

I'm not just referring to his tax cuts -Obamacare repeal by executive fiat would impact many of his white working class supporters. Let's face it, the bill by Sens. Murray and Alexander is not going to pass the House, and even by the slim chance it did, I wouldn't count on Trump signing it into law. 
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Shadows
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« Reply #117 on: October 19, 2017, 10:22:01 PM »
« Edited: October 19, 2017, 10:27:27 PM by Shadows »

These massive tax cuts, coupled by a 1.5 Trillion Medicare & Medicaid cuts & with the end of the CSR payments is going to hit Trump bad.

How is he going to justify this? The economy will not improve (possibly may do worse), people will lose healthcare, some will die, deficits will go higher. In the Townhall Debate, you will see questions coming from people saying my child died due to a Medicaid cut or CSR Payments etc.

This is going to be brutal for Trump.
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #118 on: October 19, 2017, 10:24:43 PM »
« Edited: October 19, 2017, 10:28:03 PM by Dwarven Dragon »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

Doesn't this all expire in ten years since it is being done with budget reconciliation?

Unclear. What they're passing now is just a budget to let them use reconciliation, the actual tax reform bill comes later. The rule is 10 years only if it adds to the deficit, permanent if it doesn't. There's actually been some discussion of passing a bill with some permanent provisions and some temporary provisions. And as we saw with the bush tax cuts, when that 10 year deadline does come, there will be immense pressure on politicians to extend at least some of the cuts.

But eventually, the ones for the highest incomes were not extended.

Frankly I am beginning to coming around to wanting this to pass now for the sake of the corporate tax code reform and the simplification of the code. I think that will be of immense benefit to the economy. I am disturbed by the adding to the deficit obviously, in the mean time. But if this fails, I doubt it will ever get done.




You make some good points but it's very hard for me to support something that benefits the wealthy way more than the middle class and adds to the deficit. That being said I understand the framework and budget are not gospel and will postpone judgment until I see the final tax reform bill.
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Frodo
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« Reply #119 on: October 19, 2017, 10:26:45 PM »


This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

I'm not just referring to his tax cuts -Obamacare repeal by executive fiat would impact many of his white working class supporters. Let's face it, the bill by Sens. Murray and Alexander is not going to pass the House, and even by the slim chance it did, I wouldn't count on Trump signing it into law. 
You make some good points but it's very hard for me to support something that benefits the wealthy way more than the middle class and adds to the deficit. That being said I understand the framework and budget are not gospel and will postpone judgment until I see the final tax reform bill.

Huh

I'm not arguing in favor of the tax cuts. 
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #120 on: October 19, 2017, 10:27:36 PM »


This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

I'm not just referring to his tax cuts -Obamacare repeal by executive fiat would impact many of his white working class supporters. Let's face it, the bill by Sens. Murray and Alexander is not going to pass the House, and even by the slim chance it did, I wouldn't count on Trump signing it into law. 
You make some good points but it's very hard for me to support something that benefits the wealthy way more than the middle class and adds to the deficit. That being said I understand the framework and budget are not gospel and will postpone judgment until I see the final tax reform bill.

Huh

I'm not arguing in favor of the tax cuts. 

Was intending to quote Yankee LOL. Edited.
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Southern Senator North Carolina Yankee
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« Reply #121 on: October 19, 2017, 10:35:38 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

I'm not just referring to his tax cuts -Obamacare repeal by executive fiat would impact many of his white working class supporters. Let's face it, the bill by Sens. Murray and Alexander is not going to pass the House, and even by the slim chance it did, I wouldn't count on Trump signing it into law. 

I read an article that because of Trump's executive order, it will cause premiums for silver plans to rise, which will turn lead to the premium subsidy getting spiked, meaning more people could afford to get a Gold plan or drop down to Bronze plan with a higher % of the premium covered by the subsidy.

Of course this means that trump's EO actually raises the deficit.
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Southern Senator North Carolina Yankee
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« Reply #122 on: October 19, 2017, 10:41:11 PM »

This wealthy wank is going to crash the economy.

It seems that's the only way Americans are going to be weaned from Trumpism -let them suffer from the effects of his policies.  If they're not going to listen to the mainstream media, they will listen to their pocketbooks, at least.



Thing is, this is unlikely to cause any short term pain. The ill effects will largely happen after Trump's term, when Democrats will suffer the consequences of passing the measures needed to deal with this mess.

Doesn't this all expire in ten years since it is being done with budget reconciliation?

Unclear. What they're passing now is just a budget to let them use reconciliation, the actual tax reform bill comes later. The rule is 10 years only if it adds to the deficit, permanent if it doesn't. There's actually been some discussion of passing a bill with some permanent provisions and some temporary provisions. And as we saw with the bush tax cuts, when that 10 year deadline does come, there will be immense pressure on politicians to extend at least some of the cuts.

But eventually, the ones for the highest incomes were not extended.

Frankly I am beginning to coming around to wanting this to pass now for the sake of the corporate tax code reform and the simplification of the code. I think that will be of immense benefit to the economy. I am disturbed by the adding to the deficit obviously, in the mean time. But if this fails, I doubt it will ever get done.




You make some good points but it's very hard for me to support something that benefits the wealthy way more than the middle class and adds to the deficit. That being said I understand the framework and budget are not gospel and will postpone judgment until I see the final tax reform bill.

Well to all things there is a solution. If Republicans were far less in the mind of being sticks in the mud, I would add an increase of the minimum wage (say to $9.15) and a boost to the EITC significantly to ensure that there will be a substantial increase in take home pay for the lowest income brackets.

The massive tax cuts and simplification would help compensate small business for the increased labor expense and such a broad based boost to disposable incomes would benefit small business.

But of course Republicans in DC are stupid so it would never happen.
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Attorney General, LGC Speaker, and Former PPT Dwarven Dragon
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« Reply #123 on: October 19, 2017, 11:03:09 PM »

^ If you can somehow get Congress to pass that then go for it. You have my blessing.
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« Reply #124 on: October 19, 2017, 11:12:09 PM »

1.5 million over the next 10 years is not that big of a cut and can easily be made up.


-Taxing overseas havens ,including a one time wealth tax on those havens

- Cutting 70 billion dollars in military spending





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