Tax bill passes in senate 51-49

[fishonjazz]

My paycheck went up $17.50. Thanks, Trump. That annual $450.00 will go a long way toward changing my life at the expense of the national debt and the poor.

Ya mine went up about that amount as well. Of course my medical insurance went up by about 20 dollars per week and my mortgage went up by about 20 bucks so it’s actually a loss overall for me.

 

[franklin]

My paycheck went up $17.50. Thanks, Trump. That annual $450.00 will go a long way toward changing my life at the expense of the national debt and the poor.

Ya mine went up about that amount as well. Of course my medical insurance went up by about 20 dollars per week and my mortgage went up by about 20 bucks so it’s actually a loss overall for me.

Wait until inflation kicks in from this and your grocery bill goes up by another $50 a month.

 

[sirkickyass]

My paycheck went up $17.50. Thanks, Trump. That annual $450.00 will go a long way toward changing my life at the expense of the national debt and the poor.

Mine went up $120.00 per pay period. Setting up an automatic donation to the DNC with the cash because that amount is essentially invisible to me. The bigger the pay hike, the less you needed it.

 

[Deleted member 365]

Repubs are following Keynes here.

Stimulate the economy via increased government spending and tax cuts when the country is at full employment then cut stimulus when recessions hit!

What could possibly go wrong with Stable Genius leading us with this infallible economic policy? /s

 

[Deleted member 365]

Mine went up $120.00 per pay period. Setting up an automatic donation to the DNC with the cash because that amount is essentially invisible to me. The bigger the pay hike, the less you needed it.

Paul Ryan thinks that many Americans are going to benefit from receiving $1.75 more per paycheck. They’ll be able to pay for their Costco memberships now!

 

[Deleted member 365]

Sooooo much winning:

When Republicans delivered $1.5 trillion in tax cuts last December and slashed the corporate tax rate from 35 percent to 21 percent, they said it would come with a big wage boost for American workers. Except it hasn’t.

Over the weekend, this chart from Bloomberg showing private data from PayScale’s wage index swept across Twitter. It shows a drop in wages in the second quarter of the year. While wages have risen by 12.9 percent overall since 2006, wages adjusted for inflation (so-called “real wages”) have actually fallen by 9.3 percent.

The Republican tax bill has been a major windfall for corporations and the wealthy.

According to estimates from the Center on Budget and Policy Priorities, the top fifth of earners get 70 percent of the bill’s benefits, and the top 1 percent get 34 percent.

https://www.vox.com/2018/7/23/17602746/tax-cuts-work-bloomberg-wages

 

[RandyForRubio]

Of course the top earners will get more of a benefit. They make more money. 5% of $1,000,000 is more than 5% of $100k.

 

[JazzGal]

Of course the top earners will get more of a benefit. They make more money. 5% of $1,000,000 is more than 5% of $100k.

Which is exactly why the whole idea was a bad one.

 

[RandyForRubio]

Which is exactly why the whole idea was a bad one.

Why? Because people can’t do basic math?

The amount of money the bottom tier of earners save in taxes should never equal what the top tier does. That doesn’t make any sense.

This is the reason we have percentages and not just total numbers.

 

[Scat]

Why? Because people can’t do basic math?

The amount of money the bottom tier of earners save in taxes should never equal what the top tier does. That doesn’t make any sense.

This is the reason we have percentages and not just total numbers.

This is not terribly socialistic of you...

 

[idestroyedthetoilet]

Why? Because people can’t do basic math?

The amount of money the bottom tier of earners save in taxes should never equal what the top tier does. That doesn’t make any sense.

This is the reason we have percentages and not just total numbers.

It made sense in this environment. The top didnt need a tax cut, the bottom did, and the higher segments of the middle class were doing fine.

Different economy, different story.

 

[AlaskanAssassin]

It made sense in this environment. The top didnt need a tax cut, the bottom did, and the higher segments of the middle class were doing fine.

Different economy, different story.

I find it interesting that anyone can claim that a specific socioeconomic group needs or doesn't need a tax cut. Also, what determines that a group is "doing just fine". This is all completely subjective. Compared to most countries in the world, everyone in the US is "doing just fine." Most of the people you claim "need" a tax cut are still walking around with smart phones in their pockets. Also, let's all contemplate that nearly half of Americans don't pay any federal income tax anyways! When we talk about tax cuts for the poor, it's not really a tax cut, because they are not paying federal taxes. It's social welfare. They very well may benefit from the change, but calling it a tax cut is implying that the heavy tax burden on them is detrimental to their quality of life, which can't be the case if they are not actually paying taxes towards funding the federal government's programs.

I've become increasingly frustrated in recent years at our governments inability to stop adding to the National Debt. Part of this is the fact that I have two young children. We are kicking the can down the road year after year, and leaving our children and grandchildren a giant inheritance of debt that we and the generations before us are responsible for. I don't care which approach we take, shrinking government or raising taxes, but we absolutely have to address this problem. Despite the fact that all the politicians talk about the Nation Debt, and admit it is a major a problem, no one does anything about it. Democrat or Republican.