Senate passes tax bill

Am I the only published news commentator who knows about the passing of the Senate tax bill?  I mean,  I can find a single story on this,  as we close on "midnight," on the Pacific Coast.  The bill in the Senate apparently passed in the 10pm how (pst). 

Looks like everyone would rather talk about General Flynn than about something that actually matters.  

All that remains,  now,  is reconciliation of the two bills,  the House and the Senate.  

We could have a tax bill by the end of next week.  It is my opinion that the really difficult work is done.  Tweeking is all that remains.  The Do-Nothing Democrats have nothing to do,  now,  but continue to whine and complain.  You all do know that the Dems would have never given us a tax cut,  right?  As a matter of fact,  the Obama clowns of the world ,  have been telling us that "2% GDP" is now "the new normal." 

We are about to see what happens to an economy when regulations are reduced and and taxes are cut   . . . . .    white knuckle time for the Left Out class.  

12 comments:

  1. Excellent
    Reuters Poll
    49% oppose the Republican tax bill
    29% supported it
    22% don't know

    The reality:
    Historically unpopular. Americans are opposed to the bill because they think it disproportionately benefits the rich. It likely will.


    The GOP’s tax bill is historically unpopular. The GOP - making an unpopular administration hated even more.

    1981 Gallup Reagan tax cut I 51% 26% +25
    2001 Harris W. Bush tax cut I 49 37 +12
    2010 ABC/WaPo Extending Bush tax cuts I 54 42 +12
    2013 ABC/WaPo Extending Bush tax cuts II 45 38 +7
    2003 Harris W. Bush tax cut II 45 39 +6
    1986 CBS/NYT Reagan tax cut II 38 34 +4
    1993 Gallup Clinton tax hike 34 44 -10
    1990 Voter News Service H.W. Bush tax hike 41 52 -11
    2017 November average* Trump tax cut 32 46 -14

    https://fivethirtyeight.com/features/the-gop-tax-cuts-are-even-more-unpopular-than-past-tax-hikes/

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    Replies
    1. A couple of points, maybe three: For starters, ObamaCare was wildly unpopular for years, right up to the time the GOP was getting serious about taking it down. So much for polling, right. Secondly, Clinton's tax cuts (business got a major tax decrease) and the current plan polled almost exactly the same, especially when you take into account the so-called "margin of error." Third, Clinton's tax overhaul produced the best ecomy in history. The GOP plan promises to do the same and for many of the same reasons.

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  2. The Republicans voted down Sanders amendment, which means they will be able to slash Medicare, Medicaid, Social Security, anti-hunger, child programs, etc because of this Tax Bill. They also defeated a measure to require all have time to read the bill before voting on it.

    We'll reverse much of this in 2020 when the next Dem comes in to clean up the mess, just like Obama had to do with Bush, just like Clinton had to do with Bush Sr. The cycle repeats.

    ReplyDelete
    Replies
    1. NO ONE OF IMPORT IS TALKING ABOUT "SLASHING" MEDICARE, MEDICAID OR SOCIAL SECURITY, Trump is vehemently against cutting Medicaid or S.S. Medicaid is different. The GOP will make moves to return Medicaid to its original purposes.

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  3. I guess you have no idea. When the black president increased the debt ... you were screaming, now Trump is going to increase the debt, you say nothing .

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    Replies
    1. 1.4 trillion debt versus 10 trillion? Are you serious. You don't see the difference. Reagan's tax cuts doubled taxed revenues. So no, I am not worried. At least Trump is returning some of our money. Barack took in more taxes than anyone in history. So, I couldn't care less about using a Marxist Redistributionist as an example of anything but subversive activity.

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  4. Rubio: Offset Tax Cuts By Reducing Social Security, Medicare Benefits

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    1. Do you not know that Trump sets the agenda, not Rubio and Trump has been crystal clear on this point: "No cuts to Medicare and Social Security."

      Congress needs to do something to Social Security before it runs out of money, but , of course, you have no clue as to the meaning of that phrase, "run out of money."

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  5. Republicans don’t care about budget deficits, and never did.

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    Replies
    1. Duh. But why are you pretending you care about indebtedness when your party racked up 9.7 trillion dollars in debt in just eight years. Add another 2 trillion total for accrued interest and the billions it will cost to bring our military back to Viet Nam era streght, and you have 20 trillion dollar mess we have to fund and fix. Go back to sleep.

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  6. Buried in the Republican tax bill on page 503, section 14504 is a paragraph entitled: “Modification to Source Rules Involving Possessions.” It means that if you are a hedge fund manager who is a resident of the Virgin Islands, you will be able to get a major tax break on capital gains and a 90% reduction in tax liability on your income.

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    Replies
    1. News Flash. that is a carryover from previous budgets, written and inserted, originally, by Democrats.

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