Senate Democrats set conditions for tax reform

[mystery-ak]

Senate Democrats set conditions for tax reform

By ELANA SCHOR

08/01/2017 07:00 AM EDT

Senate Democrats laid down a marker Tuesday for any future tax reform legislation, urging President Donald Trump and the GOP to seek a bipartisan bill and outlining the conditions to secure their votes.

Many Republicans are pressing their leaders to move past the controversial Obamacare repeal debate and dig in on a tax overhaul, but the tax reform debate looks increasingly likely to reflect the same partisan divisions. Still, Democrats are making their move early in hopes of trying to secure the seats at the negotiating table that the GOP denied them on Obamacare.

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http://www.politico.com/story/2017/08/01/tax-reform-senate-democrats-241182?lo=ap_f1

[To-Whose-Benefit?]

 

"Tax reform cannot be a cover story for delivering tax cuts to the wealthiest," the senators wrote. "We will not support any tax plan that includes tax cuts for the top 1 percent."


Just send it all in to us. ALL of it.

I can hear it already. Is it live or is it Memorex?

"But where's the money coming from to Pay for these tax cuts for the evil rich?"

[txradioguy]

Since when does the minority party get to set the terms?

[Mom MD]

"Tax reform cannot be a cover story for delivering tax cuts to the wealthiest," the senators wrote. "We will not support any tax plan that includes tax cuts for the top 1 percent."


Just send it all in to us. ALL of it.

I can hear it already. Is it live or is it Memorex?

"But where's the money coming from to Pay for these tax cuts for the evil rich?"

So the people who actually pay the most taxes cannot expect to share in the tax cuts?  Why am I not surprised.  I suppose my taxes will go up.  Just barely crack the top 1% (DH and me together)  We pay 6 figures in federal tax alone and we dont make THAT much.  The AMT and roll off of deductions kill us  Our effective tax rate is around 50% when all is said and done. Basically I work for the government and we live on what my husband makes. I'm so excited to hear we don't deserve a break after working nights, weekends, holidays etc to make money for others....

[Mom MD]

Since when does the minority party get to set the terms?

Since the majority party is a bunch of weak kneed pansies that fall over if you say BOO or members of the minority party in disguise.

[edpc]

So the people who actually pay the most taxes cannot expect to share in the tax cuts?  Why am I not surprised.  I suppose my taxes will go up.  Just barely crack the top 1% (DH and me together)  We pay 6 figures in federal tax alone and we dont make THAT much.  The AMT and roll off of deductions kill us  Our effective tax rate is around 50% when all is said and done. Basically I work for the government and we live on what my husband makes. I'm so excited to hear we don't deserve a break after working nights, weekends, holidays etc to make money for others....

The leadership is in the top 1%.  They try to make it sound like they don't want a break to soothe the masses.  In truth, they write tax law and know all the shelters, deductions, and exemptions.  Their accountants make sure the never pay anywhere near the bracket rate.

[skeeter]

Since when does the minority party get to set the terms?

Since the two parties' interests became indistinguishable.

[Jazzhead]

Since when does the minority party get to set the terms?

When the majority party can't get its motherflippin' act together.   

[dfwgator]

The leadership is in the top 1%.  They try to make it sound like they don't want a break to soothe the masses.  In truth, they write tax law and know all the shelters, deductions, and exemptions.  Their accountants make sure the never pay anywhere near the bracket rate.

Every piece of legislation that has been passed that was meant to 'soak the rich' winds up soaking the middle class.

That being said, let's try cutting the damn spending first, then we can talk about the taxes.

[Jazzhead]

Every piece of legislation that has been passed that was meant to 'soak the rich' winds up soaking the middle class.

That being said, let's try cutting the damn spending first, then we can talk about the taxes.

Cutting spending is difficult when so much of the federal budget is tied up in entitlements.   Even alleged budget hawks like John Kasich spit the bit when real spending cuts threaten a favored entitlement.   All that ends up happening is less money for the military,  even as global crises proliferate.

I want tax reform that directly emphasizes economic growth and domestic job creation.  Not Mike Lee-style tax reform.   I support cutting or eliminating corporate income taxes, and if the trade-off is raising individual income tax rates on the rich, then so be it. 

[txradioguy]

I want tax reform that directly emphasizes economic growth and domestic job creation. 

You do realize that's not the job of the government right?

[Bigun]

The can pass into law a single bill (HR25) currently languishing in the Ways and Means Committee and the economy will take off like a rocket!  Doing so will also cement the party in power when it happens for two full generations at least!

[Jazzhead]

You do realize that's not the job of the government right?

It's not the job of the government to collect taxes and set tax policy? 

[libertybele]

So the people who actually pay the most taxes cannot expect to share in the tax cuts?  Why am I not surprised.  I suppose my taxes will go up.  Just barely crack the top 1% (DH and me together)  We pay 6 figures in federal tax alone and we dont make THAT much.  The AMT and roll off of deductions kill us  Our effective tax rate is around 50% when all is said and done. Basically I work for the government and we live on what my husband makes. I'm so excited to hear we don't deserve a break after working nights, weekends, holidays etc to make money for others....

Seriously? If you are paying 6 figures in federal taxes you are making a heck of a lot more than the majority of most people.  Somehow I don't feel sorry for you.  I would suggest though that if 50% of your earnings is going to taxes, you find a better CPA who can do a little creative accounting.

[txradioguy]

It's not the job of the government to collect taxes and set tax policy?

Policy and collection is there job.  That's not what I asked you.

It's not their job to...as you put in the part I bolded...provide "economic growth and domestic job creation".

That's not their job.  Just making sure you understand that.

[txradioguy]

Seriously? If you are paying 6 figures in federal taxes you are making a heck of a lot more than the majority of most people.  Somehow I don't feel sorry for you. I would suggest though that if 50% of your earnings is going to taxes, you find a better CPA who can do a little creative accounting.

And that is how class warfare takes root.

[libertybele]

The can pass into law a single bill (HR25) currently languishing in the Ways and Means Committee and the economy will take off like a rocket!  Doing so will also cement the party in power when it happens for two full generations at least!

So far all that I can see is that is was introduced in the House on 1-3-17 and has 45 co-sponsors -  nothing else.    Phone calls and e-mails are in the works!

[Bigun]

So far all that I can see is that is was introduced in the House on 1-3-17 and has 45 co-sponsors -  nothing else.    Phone calls and e-mails are in the works!

 

[libertybele]

And that is how class warfare takes root.

Let me clarify ... she (they) are working for their money and have earned their money and should be able to keep more of their money; that's a given. However, taxes are killing most of us. My contention is not how much money they make, but find it ironic that they are complaining that they make so much money that they have to pay more in taxes. 

[Right_in_Virginia]

Policy and collection is there job.  That's not what I asked you.

It's not their job to...as you put in the part I bolded...provide "economic growth and domestic job creation".

That's not their job. 

The government sets tax policy so they've the power to either stifle or promote economic growth.

So, yes, it is their job.

[txradioguy]

The government sets tax policy so they've the power to either stifle or promote economic growth.

So, yes, it is their job.

No it's not. 

The government doesn't create jobs or wealth.  They can set the conditions for it so that business owners and citizens in the private sector can make the most of what they have or don't have...but as time and history has proven, the economy can flourish despite the Government's action or in some cases inaction.

And why is that?  Because of the individual, not because of the Government.

You act like any money, any wealth a person or a business has is because of the Government.  That's simply not true.

[txradioguy]

Let me clarify ... she (they) are working for their money and have earned their money and should be able to keep more of their money; that's a given. However, taxes are killing most of us. My contention is not how much money they make, but find it ironic that they are complaining that they make so much money that they have to pay more in taxes.

You do realize don't you that the people that pay the most in taxes based on income are also the one that pay the bulk of the taxes period?

I don't blame them for complaining about the tax bill they have.  EVERYONE should be upset with their tax bill.

We are getting nothing in return for what we pay in except for a slush fund to give handouts to those that don't deserve it because they've learned they can sit on their lazy @ss and live quite well that way.

What do you think is going to happen when the Feds can't squeeze anymore money out of the people you are chiding for not being happy about their tax bill?

They're gonna come after you and me with higher tax rates next.

And then it will be you complaining about what you owe the taxman instead.

[Bigun]

No it's not. 

The government doesn't create jobs or wealth.  They can set the conditions for it so that business owners and citizens in the private sector can make the most of what they have or don't have...but as time and history has proven, the economy can flourish despite the Government's action or in some cases inaction.

And why is that?  Because of the individual, not because of the Government.

You act like any money, any wealth a person or a business has is because of the Government.  That's simply not true.

The government does not create jobs or wealth but they damned sure do have a tremendous affect on those who do with the policies they set!  There is only one reason why our economy isn't booming today and that reason is THEY don't want it to!

[txradioguy]

The government does not create jobs or wealth but they damned sure do have a tremendous affect on those who do with the policies they set!  There is only one reason why our economy isn't booming today and that reason is THEY don't want it to!

I get that....but my point I guess I didn't make clear enough was that it's really the job of the Federal Government to get the hell out of our way and let us create jobs and wealth on our own.  Not to decide the winners and losers and who gets how much.

[Bigun]

I get that....but my point I guess I didn't make clear enough was that it's really the job of the Federal Government to get the hell out of our way and let us create jobs and wealth on our own.  Not to decide the winners and losers and who gets how much.

NOW your talking but THEY prefer having the ability to engage in social engineering at will!