Nov 5 2017
06:55 am

When hearing this announced by Speaker Paul Ryan (R-WI) and others, they kept saying the bill would add jobs. Unemployement is at 4.1%, the lowest rate since 2001. Prior to 2001, the unemployment rate was lower in the late 60s/early 70s and in the late 50s/early 60s. House Ways and Means Committee Chairman Kevin Brady (R-TX) said, "By delivering tax relief to businesses of all sizes, the Tax Cuts and Jobs Act makes it easier for entrepreneurs to achieve the American Dream - to start a business and create jobs in our local communities, and it entices employers to bring their headquarters and jobs back home." Why don't I believe this?

From CNN, "All the weird parts of the tax reform bill, in one post"

NBA star Steph Curry gets a mention. It also discusses the unborn child, "A child in utero," it says, "means a member of the species homo sapiens, at any stage of development, who is carried in the womb." And, then "the tax plan eliminates a $250 deduction eligible to teachers for their spending on classroom supplies."

From the New York Times, "A Tax Plan for a New Gilded Age".

"The primary goal of this bill is to slash taxes on corporate profits to 20 percent, from 35 percent." Who here, or anywhere for that matter, thinks any tax savings will build businesses and employ more people? Many businesses that will benefit from this tax cut already have lots of money sitting around.

Reduce the number of personal income tax brackets to four, from seven, while raising the lowest bracket to 12 percent, from 10 percent. Well, raise income taxes on those with less income. How considerate. Beneficial?

There are changes that would affect the middle-class, and not in a good way. There is the elimination of the deduction for state and local income taxes. Forty-three states have some form of income tax, including Tennessee. Also, elimination of the "deduction for medical expenses, which is primarily used by people with serious and chronic illnesses. Gone, too, would be important tax credits and deductions for college tuition and interest on student loans."

Upper-income taxpayers would benefit from the removal of the alternative minimum tax (AMT).

The proposed bill is only 429 pages. Check it out to find how this administration is going to make America great again. Heh.

Metulj From the Lurkzone's picture

"It also discusses the unborn

"It also discusses the unborn child, "A child in utero," it says, "means a member of the species homo sapiens, at any stage of development, who is carried in the womb."

Exploiting the exception of the "Born Alive Rule" in a tax document. That Regents University law degree is paying off for some jackass.

Treehouse's picture

Tax 'em!

Obviously they are doing this so they can tax the unborn. But then maybe they can get healthcare, a right not always given to the womb owner.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.


TN Progressive

TN Politics

Knox TN Today

Local TV News

News Sentinel

State News

Local .GOV

Wire Reports

Lost Medicaid Funding

To date, the failure to expand Medicaid/TennCare has cost the State of Tennessee ? in lost federal funding. (Source)

Search and Archives