Tax bill passes in senate 51-49

[Zombie]

Forget about the policy implications for a minute and consider how wild it is that the GOP is pushing through an enormous (and enormously expensive) bill that is overwhelmingly hated by the electorate.

Some Republicans I'm sure are dim enough to believe in the fantasy that trickle down economics will enable this bill to pay for itself, but there are more than a few who are using this bill to personally enrich themselves knowing it will cost them their political careers.

This is why I view this bill as nothing less than a smash and grab. It's a looting of the treasury by lobbyists for big business the donor class and Republican politicians. History will not be kind to those who vote for this abortion.

 

[RJF]

You and the people voting for it.

Seemed to work just fine for ACA...

 

[Gameface]

Seemed to work just fine for ACA...

Yes, that should be the new standard. Don't be any better than the other guy.

I didn't support the ACA when it was being voted on and I didn't support the way it was passed.

 

[fallenchicken]

You know this is a sick and broken society when congress is openly plundering the federal treasury and filling their donors and their own pockets. This is open corruption. What a scandal. And they're going to get away with it.

Between Net Neutrality and this tax bill the republicans are pushing through universally unpopular policy and it is just shocking how much they do not care. They can just bet on voter suppression and gerrymandering and the eternal incompetence of the democratic party. Like, Bob Corker literally reversed his decision after they put in what everyone is calling the "Corker Kickback" which literally lines his own pockets. Deadass that is some Al Capone ****. This is the part of the movie where Scarface starts to believe he is immortal. How do we make these people afraid again?

 

[candrew]

The most cynical members of Congress probably see this bill as a massive, front loaded 3 year give away.

The expirations of some of the benefits (which, not that it really matters, impact mainly the middle class) are merely thinly veiled accounting tricks to make the bill look less obscene when you crunch the numbers.

The Trump presidency will implode one way or the other - in the meantime they can set themselves for unlimited donations in 2018 and 2020.

And the entire 2020 presidential campaign can stink of Marco Rubio's farts because he insisted on raising the child tax credit a few hundred bucks.

 

[Stoked]

Welp, this one is over. He is ending the year with a strong note.

Edit: AT&T and Comcast are giving $1,000 bonuses to their employees (at least 300,000 workers). AT&T announced a 1 billion investment in the U.S. Comcast announced 50 billion over the next 5.

 

[JazzGal]

Welp, this one is over. He is ending the year with a strong note.

Not sure how strong a note it is when the bill is very unpopular. It remains to be seen if it will help next year or not. Trump cannot sign the bill until January because of the Medicare cuts that would be involved, and that will still be an issue next year that they may have difficulty resolving.

Plus there are the issues of DACA and CHIP to be resolved. And the fallout of the Jerusalem announcement. I read today that a recent poll shows a good majority of voters plan as of yesterday to vote Democrat next year. Even McConnell indicated that history is not on their side since it is typical that the opposing party gains seats in the first mid-terms of a presidency.

How about that love fest between Trump and Hatch yesterday?

TRUMP: I want to ask Orrin Hatch, a special friend of mine, I can tell you that. Somebody that spoke really well of me when it wasn't exactly the easiest thing to do. He was just always in there, always fighting for all of us, and did a fantastic job as chairman.

SENATOR HATCH: Well, Mr. President, I have to say that you’re living up to everything I thought you would. You’re one heck of a leader, and we’re all benefitting from it. This bill could not have passed without you. It couldn’t have passed without the Alaskan delegation. It couldn’t have passed without the leadership in the House and the Senate — Paul Ryan and Mitch McConnell — and the other leaders as well.

All I can say is, is that we’re making headway. This is just the beginning. If you stop and think about it, this President hasn’t even been in office for a year, and look at all the things that he’s been able to get done — by sheer will, in many ways.

I just hope that we all get behind him every way we can, and we’ll get this country turned around in ways that will benefit the whole world, but, above all, benefit our people and bring us all to a realization of how really great America really is and how the rest of the world depends on us.

I love this country. I came from very humble roots. And I have to say, that this is one of the great privileges of my life to stand here on the White House lawn with the President of the United States, who I love and appreciate so much, and with these wonderful colleagues and Cabinet members who stand behind us.

And to see all of you and realize that you care too. All I can say is that God loves this country. We all know it. We wouldn’t be where we are without Him. And we love all of you. And we’re going to keep fighting, and we’re going to make this the greatest presidency that we’ve seen, not only in generations, but maybe ever.

TRUMP: Boy, that was good. Paul Ryan just said, ‘How good was that?’

 

[Stoked]

Not sure how strong a note it is when the bill is very unpopular. It remains to be seen if it will help next year or not. Trump cannot sign the bill until January because of the Medicare cuts that would be involved, and that will still be an issue next year that they may have difficulty resolving.

Plus there are the issues of DACA and CHIP to be resolved. And the fallout of the Jerusalem announcement. I read today that a recent poll shows a good majority of voters plan as of yesterday to vote Democrat next year. Even McConnell indicated that history is not on their side since it is typical that the opposing party gains seats in the first mid-terms of a presidency.

How about that love fest between Trump and Hatch yesterday?

It shows that the Rs can get in line behind him on major legislation. This was a major legislative victory and I think it will not be as unpopular down the road when some people start benefiting from it. But several major businesses just increased wages, announced bonuses, American investment and increases to charitable giving. If that continues... It is something to keep an eye on for sure.

You are right on history being unkind to a sitting president during midterm elections. But if people financially profit from this tax law... if a lot of jobs are created and small businesses started... Of course that is all "ifs". But he ended on a strong note and the Ds a bad one as they failed to stop a major legislation change. If the Rs start cooperating except immigration to be next.

On CHIP the Rs would be stupid to pass up this chance. Pass it and then crow about how you care about the little guy too. It's an easy gimmie which means they will miss it lol.

Hatch has always supported Trump. Trump is currently trying to be his best friend to prevent Hatch from retiring. Mainly because Mitt Romney will run for Hatch's seat, and probably win, if hatch retires. Romney was a major Trump opponent amongst the Rs.

I agree on Jerusalem. I questioned the move at the time as it does nothing to further stated US goals.

 

[franklin]

Welp, this one is over. He is ending the year with a strong note.

Edit: AT&T and Comcast are giving $1,000 bonuses to their employees (at least 300,000 workers). AT&T announced a 1 billion investment in the U.S. Comcast announced 50 billion over the next 5.

Please don't promote this PR move. AT&T has been claiming they will invest more in the US if the tax rate is lowered for some time now. This is PR and nothing more.

Effective tax rates aren't anywhere near equal across the board, and many utilities tend to have a high effective tax rate. AT&T's was about 32% last year. Comcast paid almost 37%. Other massive corporations report zero or negative. AT&T was a big winner in this bill whereas other corporations won't benefit at all. They're using all this cash infusion to advertise to us that they are some sort of gentle giant good guy. Bull ****. They suck.

 

[Hotdog]

This site has to be the biggest liberal echo chamber ever.

Im convinced that the only solution liberals will ever come up with is FREE. Give me FREE stuff. I will earn nothing, because I cant, Im a victim. I was born, therefore you owe me. Life isn't fair. Whaa! Im triggered. You are offensive and insensitive. Capitalism is evil.

But the funny thing is that they can never fully explain, is why they cling like crusty poo to the capitalism society. A free society. Where you are free to leave the evil any time you want, but they wont. And they cant explain why they are poor but somehow know more about economics than the people with money

 

[Gameface]

This site has to be the biggest liberal echo chamber ever.

Im convinced that the only solution liberals will ever come up with is FREE. Give me FREE stuff. I will earn nothing, because I cant, Im a victim. I was born, therefore you owe me. Life isn't fair. Whaa! Im triggered. You are offensive and insensitive. Capitalism is evil.

But the funny thing is that they can never fully explain, is why they cling like crusty poo to the capitalism society. A free society. Where you are free to leave the evil any time you want, but they wont. And they cant explain why they are poor but somehow know more about economics than the people with money

Compelling

 

[Hotdog]

Compelling

Denial

 

[fishonjazz]

Compelling

What is compelling?

 

[Hotdog]

Compelling

How does it feel to be over 40 and still have the mind of a butthurt ignorant 20 year old?

You need to look no further than who the people are protesting in the streets. Its kids with masks on mixed in with adults with drug problems. Cmon bro. It should be obvious. At what age does your species mature into civilized human being?

 

[Gameface]

How does it feel to be over 40 and still have the mind of a butthurt ignorant 20 year old?

You need to look no further than who the people are protesting in the streets. Its kids with masks on mixed in with adults with drug problems. Cmon bro. It should be obvious. At what age does your species mature into civilized human being?

You're really making me think.

 

[Gameface]

What is compelling?

Good question.

 

[Stoked]

Please don't promote this PR move. AT&T has been claiming they will invest more in the US if the tax rate is lowered for some time now. This is PR and nothing more.

Effective tax rates aren't anywhere near equal across the board, and many utilities tend to have a high effective tax rate. AT&T's was about 32% last year. Comcast paid almost 37%. Other massive corporations report zero or negative. AT&T was a big winner in this bill whereas other corporations won't benefit at all. They're using all this cash infusion to advertise to us that they are some sort of gentle giant good guy. Bull ****. They suck.

Of course it’s PR lol. They’ve been joined by Bancorp, Wells Fargo, Boeing.

But it’s efffective PR. That matters.

 

[Stoked]

Yes, that should be the new standard. Don't be any better than the other guy.

I didn't support the ACA when it was being voted on and I didn't support the way it was passed.

The Rs just passed a temp spending bill that included temp funding for CHIP into January. The just made a clean sweep of the Ds in December. If the Rs have figured how to pass bills out it could be a long 2018 for the Ds. I see immigration, the budget and infrastructure on the horizon.

Rs better be able to sell their tax bill and be careful on immigration or they could get walloped in 2018 elections.

So, do they play the long game with the elections in mind or do they go the short game and try to pass as much as they can as fast as they can?

 

[franklin]

I'll offer one possible silver lining to this robbing of the Treasury. This bill will certainly create inflation, allowing the Fed to raise rates to what is considered more normal levels without inducing a recession. In fact, it's reasonable to speculate that in an economy already over full employment, all the lowered taxes will do is go to either inflation or savings. You cannot create jobs or grow the real economy when there are no more workers. You can grow nominal GDP and hopefully improve the debt:GDP. The downside, of course, is that any gain the middle and lower classes would have gotten would be completely erased by inflation. You don't get more money when it's equal nominally to an inflationary increase.

 

[Gameface]

My CBA expires in February and the new CBA is being negotiated right now. Really couldn't ask for better timing. The Union better get a damn good deal out of this, but I don't have a lot of faith in them. Hopefully the national Union guys they bring in for contract negotiations are smarter than our local guys.