by "Sam" (samwellington)
Published 12/02/2017 at 02:03
by "Sam" (samwellington)
Published 12/02/2017 at 02:03
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STARS: 4
They finally got 50 people to agree on a major piece of legislation!
Hopefully I go into work Sunday to a nice fat raise, trickled down by the economics!!!!
Or it’ll just turn out to be a bullshit “economic theory” that has trashed the economic situation for middle and poor Americans EVERY TIME (4, one of which aided the Great Depression) IT’S BEEN DONE IN OUR COUNTRIES’ HISTORY. It does make the rich even richer though, so that’s good for them I guess.
Now I’m excited for people to actually see what they’ve done. What with the massive deficit increase and the impending tax increases some (not all, mostly blue state) middle and lower class people will see on their bill. Oh and your healthcare just went away if you’re one of the 13 million on ObamaCare. Now you can just buck up and push through your illnesses and injuries with the extra trickle!
Next on the agenda: cutting Social Security and Medicare, screwing even more of us over for no god-damn reason. MAGA!
"pip bip - choose Corrour" (hhgttg69)
12/02/2017 at 02:47, STARS: 0
I’m stunned that Washington took this long to get off their collective arses and agreed on something
"Berang" (berang)
12/02/2017 at 02:48, STARS: 1
On the bright side, this probably means no second term for donald. It’s a win-win for the GOP, if everything goes wrong, they will point the finger at him, if it works out, they’ll take the credit.
"farscythe - makin da cawfee!" (farscythe)
12/02/2017 at 02:55, STARS: 2
oh goodie... you guys have finally gotten around to crashing the economy..
guess i’d better start brown nosing at work so i have a chance when the down turn hits us
"SVTyler" (svtyler)
12/02/2017 at 03:07, STARS: 9
The meat of the tax bill actually won’t kick in until 2021 so that’ll give them the perfect chance to blame the new economic depression on the Democrats who took Congress in 2018 and the White House in 2020, and use it to justify further tax cuts for the rich and corporations. Rinse, repeat.
"MrDakka" (mrdakka)
12/02/2017 at 03:14, STARS: 0
Well, the trickle down theory and more broadly, supply side economics could work, but that would require people to think about people other than themselves. Sort of like the prisoners dilemma. But that requires people to act rationally for maximum utility.
If they really wanted this to work, they should’ve added some sort of caveat to severely punish the companies that don’t reinvest their earnings/expand their workforce and incentivize those that do.
"SVTyler" (svtyler)
12/02/2017 at 03:14, STARS: 10
The thing a lot of people are overlooking are how much this bill is going to destroy higher education in this country. A vast majority of grad students are foreign-born, so if they keep the tax on tuition waivers we’ll pretty soon have no researchers at our universities and no one to teach undergraduate classes because they’ll just withdraw or go somewhere else in the world for their degree, not to mention utterly fucking current grad students who now have to quit school and assume a shit-ton of student loan debt because they can’t afford to pay tax on $80,000 ‘income’ on a $20,000 stipend. And there’s literally no reason to do any of this except make the rich richer, it’s fucking psychotic.
Also if you think the dipshit working-class Republicans are eventually going to realize how badly they fucked themselves you’ve been dreaming the last ten years. The real tax hikes don’t kick in until after the next election so when a Democrat gets elected President they’ll just blame them and push for more tax cuts.
"ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)" (adabofoppo)
12/02/2017 at 07:40, STARS: 5
The Dems tried to amend the bull with exactly such a provision. Every single rCon voted against it.
"gmporschenut also a fan of hondas" (gmporschenut)
12/02/2017 at 08:16, STARS: 0
"Ash78, voting early and often" (ash78)
12/02/2017 at 08:32, STARS: 0
I put all the new assumptions into my fancy Excel calculator and it estimates my taxes will go up by almost 10% thanks to the near-elimination of itemized deductions and the removal of the personal exemption. A big standard deduction is a reward for lazy people, IMHO. It should remain small enough to encourage itemization for homeowners and donors. This fails that test for almost everyone.
Our situation: Family of four, single income, living comfortably but basically spending everything we make (after a modest 401k contribution). I don’t think this is quite what they had in mind for a hard working middle class family. And of course we never could deduct our childcare expenses because my wife volunteers and doesn’t work for pay. That seemed asinine from the beginning.
I’m hopefully this new debacle will open discussions about real tax reform, not the Titanic Deck Chair approach we’ve had for 30 years. We’re just shifting the Vote-Buying power around a little and I’m not thrilled with the direction.
"Matsayz" (matsayz)
12/02/2017 at 09:54, STARS: 0
Exactly HALF of washington agreed...
"nermal" (nermal)
12/02/2017 at 11:18, STARS: 0
It’s basically the same process that was used to get the Obamacare bill passed - They had to jam it through at 2am with a bunch of stupid extra crap added on in order to get just enough votes.
TBD on the economic impact, but if the stock market is any indicator, it should be positive, at least in the short term. I think there will be winners and losers though.
As far as the extra crap, drilling for oil in AK should reduce foreign oil dependence and keep oil prices lower. That’s a good thing, provided that the environmental impact is minimized. I’m not a fan of the anti-abortion language though.
"Nick Has an Exocet" (nickallain)
12/02/2017 at 11:57, STARS: 0
There are a couple of things to be excited about here. Repealing the individual mandate is a fantastic toss-in. As someone who came from Romney-era Massachusetts, that has always been a great way of kicking people when they’re down. Most people who don’t have health insurance aren’t doing it because they reckless, they’re in that situation due to difficult life circumstances. So charging them a tax penalty for not handing hard earned money to a greedy insurance company is ridiculous.
In the Senate version, on a personal percentage basis, the largest gains for people making between $10k and $190k. 10, 15, 25, 28, 33, 35, 39.60 percent becomes 10, 12, 22, 24, 32, 35 and 38.5. The house version reduced things to four brackets so that will need to be reconciled.
Ultimately, I think I’ll probably pay about the same in taxes. Let’s not pretend that we’re a glorious country (tax-wise) and this ruins everything. I paid 42% last year in taxes, which is higher than I would have paid in many countries in Europe and I don’t live a lavish life here in the people’s republic of California.
"ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)" (adabofoppo)
12/02/2017 at 15:41, STARS: 0
Freudian typo. Lol
"Mercedes Streeter" (smart)
12/04/2017 at 07:30, STARS: 1
I’m pretty sure Hurricane Mueller will close in on Donnie before reelection. I mean, you have to be really stupid to be the President and make fun of the FBI that’s investigating your campaign.