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Is it really a cut? As WaPo points out "The new tax break for millionaires goes beyond what was in the original House and Senate bills, with Republicans seeking to ensure wealthy earners in states such as New York, Connecticut and California don't end up paying substantially higher taxes as a result of the bill."
Yes, the Blue States with high real estate prices , sales tax, property tax, etc. were penalized. And they can't deduct their Yacht interest anymore. What a burden. The rate for the super rich dropped from 39.6 to 37%.
The rate changed, but only because it otherwise was going to be a huge tax increase. I don't think this is a net tax cut for the super rich as a whole. I suppose it's great for the super rich in Texas, Nevada and Florida, though.
However we slice it, it is (at least) at third shot at the failed trickle down nonsense.
What was really wrong with the tax levels for individuals and corporations in 2000?
People were doing as well as they could (despite stagnant middle class wages) but...we had a balanced federal budget, with a surplus!!
A chance to actually be fiscally conservative as I hear the Republicans talk about all the time, as they slash taxes and increase spending.
We missed a golden opportunity to actually pay down some of the national debt.
And now we don't have enough for a small raise for federal workers after cutting taxes? What a scam has been pulled on this country.
At no point did the feds actually bring in more than they spent. The surplus was projected which was due to a R Congress.Quote:
Originally Posted by paulxu
We have plenty of money. Make cuts elsewhere. If Fed workers are pissed they can get a job in the BOOMING PROVATE ECONMY!
At this point I’ll take deficits and more money in my pocket over paying more for the gov’t to mismanage money (Obama’s/leftist demand side utter, complete and dismal failure. Which was easily predictable if you’re not stupid).
You might want to check out 1998,99,2000, and 2001.Quote:
Originally Posted by Strange Brew
https://www.taxpolicycenter.org/stat...outlay-summary
I'm curious...do you actually believe in trickle down?
Tax policy center? Was the center for American progress unavailable?Quote:
Originally Posted by paulxu
Before I answer can you explain what you think it means?
Also, this year’s tax receipts are similar to 2016. So bringing in the same amount of money while people keep more of THEIR cash seems good to me. Cut spending if you care about budgets.
What is wrong with you? Did you even look at that table, and look at the source.
It's copied from the Office of Management and Budget at the Whitehouse.
Here's the link. Go to table 1.3 and download the excel file and look at it.
https://www.whitehouse.gov/omb/historical-tables/
You’ll have to do better. Everyone knows the Whitehouse is not a legitimate source. #FakeNewsQuote:
Originally Posted by paulxu
Yes. Truth isn't truth. Maybe the farmers will give up their 12 billion from Trump (bcuz China didn't cave to his demands) for the lousy inflation rate pay raises.