$1.5 Trillion GOP Tax Cut Thread

[Matty]

This bill doesn't look like some giant gift to the rich to me.

Highest bracket remains unchanged, people in large, expensive homes paying more, among other things.

Outside of estate tax repeal (which at end of day is not going to be repealed), I'm not seeing any egregious "trickle down economics", as our progressive forum-mates like to say.

[Matty]

This bill doesn't look like some giant gift to the rich to me.

Highest bracket remains unchanged, people in large, expensive homes paying more, among other things.

Outside of estate tax repeal (which at end of day is not going to be repealed), I'm not seeing any egregious "trickle down economics", as our progressive forum-mates like to say.

The highest tax bracket has been changed. Those making $400,000 to $999,000 get a cut to 35% from the 39.6% top bracket.

Ultimately, I am still inclined to oppose this since it increases the deficit and increases the bottom tax bracket from 10 percent to 12 percent (new standard deduction only partially compensates for it). That being said, if Graham's minimum wage increase ends up being part of the final product, I may be willing to support it.

The amount of people in the bottom cohort paying 0 in income taxes is going to rise a lot based on this plan, because of the doubling in standard deduction.

[Matty]

This bill is so f**king toxic and it is very clear the GOP is cynically going after the groups that didn't vote for them.  Lots of people will see a tax hike while corpoations and the super rich make out like bandits. 

This pile of bullsh**t needs to be killed with fire.

This is actually wrong, and maybe you should read the bill yourself and calculate how you come out before getting your piss so hot.

Even the NYT admitted in their winners and losers article that this bill will lower the tax bill of the vast majority of middle class families, while actually raising the tax bill of wealthier married couples with kids and who have large mortgages

Most Americans will be seeing their tax bill go down

[Matty]

Matt fuller puts o/u on 15 republican no votes

They can only afford 22

Predictt has it .45 that it doesn't pass house Tmw

[Matty]

Castro and dwarves, what percent change does the house have votes for tomorrow?

Looks like there will be at least 15 no's

[Matty]

Johnson is probably doing this for optics and then will come back in fold like last time

[Matty]

Barbara Comstock votes yes.

risky on her part

[Matty]

Greg Gianforte speaking now

[Matty]

So, people seem to be a bit surprised on the twitterz that only13 voted no.

Most estimates had it in the 15-16 range.

[Matty]

The thing that shocks me is certain people here say how suburanties were a deadend for dems because once Trump is gone and the culture warrior stuff dies down they'll go back to the GOP but this almost guarantee the suburbs going dem as now they are going to get hit in the pocketbook by Trump/GOP as well

It's bewildering how they seem to be almost trying to foster a realignment along the lines of the 2016 presidential election.

It would be easy for the suburban swing to the Democrats to have just been a fluke owing to a uniquely positioned Republican candidate. But the Republicans in elections this year have been running on the sort of culture war and anti-immigrant policies that offend suburbanites, and now Republicans in Congress seem dead-set on passing a tax bill that amounts to a redistribution of wealth toward the super-rich and business owners and away from the "merely" well-off and white collar salaried professionals.

I still do not understand why someone should pay a lower tax bill simply because they live in a state that has high state taxes and property taxes. IF you live in and vote for higher taxes in your state for a variety of reasons, more power to you, but I don't think you should then expect to get let off the hook at the federal level. You can't have your cake and eat it too.

Also, anybody who is paying 10,000 dollars in property taxes is the type of person that represents the "rich" that the sanders wing wants to heavily tax.

Funny how they garner sympathy from the left when it is the GOP that targets their unfair tax deduction. 

[Matty]

Lisa Murkowksi just came out and said she supports mandate repeal

Pretty big news

[Matty]

From Dwarven Dragon's list, I think Paul and Corker are in the lean yes column, which would put it over the top.

Rand Paul pretends to be a pure guy but he falls in line too.

[Matty]

I'm surprised the media hasn't reported more on where net senators stand on this bill

There could be a floor vote next week and nobody knows what Corker, flake, etc are thinking

Is it lazy reporting or are these people just faking being "opposed" to it and then will fall in line?

[Matty]

No news on senate whip count?

Weird.

[Matty]

Rand Paul says he is a yes

[Matty]

Quite possible Johnson votes no in committee tomorrow (Not that Johnson wants to kill the bill, but he would be willing to hold it hostage until they give him the tax breaks for sole proprietorships that he and his donors want). Johnson voting no would delay the process, not kill it...they'd just try again when they had a bill that met his concerns.

There's very little consequence for Johnson in voting no tomorrow: it will make McConnell mad and slow down the process, but the bill will still be alive and they could try again in a few days. Meanwhile, he almost certainly gets what he wants out of the new negotiations.

Obviously these Republicans saying they'd vote no are just using it as leverage to get something they want out of the bill and will vote yes in the end.

Yep, this isn't some new tactic either. It's not uncommon for senators to do this during sausage making.  It makes for good headlines back home when you are seen as playing a direct and active role in "improving" a bill.

[Matty]

Trump told senators he supports Murray-Alexander ACA stability bill

[Matty]

Dwarven dragon, please give us an updated whip count

[Matty]

Rubio and lee want corp cut to 22% not 20% in order to pay for more generous child credits

[Matty]

Nyt study: green dots represent families who will see net gain in income

[Matty]

70% of families take standard deduction, including upwards of 85% of middle class families

[Matty]

I'm being factual

I dislike the deficit side of the bill but to claim it raises taxes on the middle class is insanity

[Matty]

I'm being factual

I dislike the deficit side of the bill but to claim it raises taxes on the middle class is insanity

The cut for the middle class is much smaller than the cut for the rich, and the Poor may actually see a tax increase.

It's mathematical tautology that the rich will get a greater raw amount of income gains

A 1% cut for 200,000 is bigger than1% cut for 50,000

[Matty]

Did anyone else notice that all the pundits who cried about how Obama and the Democrats' bills were so mean, partisan, and divisive in 2009-2010 have all vanished without a trace?

Obamacare received very favorable press from the press

Between May of 2009 to April of 2010, 88.5% of news articles and WH corespondent tweets were favorable of the bill

It's part of the reason Obamacare didn't cost Dems any seats

[Matty]

Castro, gass, dwarven, yank, etc...... would you say the odds of this thing passing are above 50%?