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12/2/2017 5:00 am |
Every single fact and study results I've heard about that tax bill seems negative so I can't see why the Repubs would have voted in favour of it. Do they think their supporters are so stupid they won't even know the bill will only benefit rich people an will drive up the deficit another trillion dollars??? Trump's multi-millionaire financial advisor said that with about $1,000. tax savings a low or middle income family could 'renovate their bathroom' or 'buy a new car'. Wow, he doesn't seem to have any idea how much things cost.
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All the Republican politicians and many of the Democrats are nothing but puppets of their donors......With the passing of this tax bill and the placing of Government Departments that police private interests in the hands of corporate shills who are dissolving them, America is now one giant step further towards complete control by Corporations and the Super Rich...........And there are the sad, pathetic underclass who support it, argue for it, with nonsensical talking points that it's Freedom...........Or Fate!.......Sad
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No one seems to mention the loss of exemptions for the increase in standard deduction. the increase of standard deduction is good for a single person not so good for a family. Right now a single person get 10,500 in deductions that will increase to 12,000. That's something.... but not as much as you are led to believe, For the most part it does no good for low income, because they already are below the taxable income with the current deductions. So some will benefit, some will not, but most low income will stay the same. the right talks about people who DON'T pay taxes... well more of a deduction for those people makes no difference. they still won't pay taxes. What we do know from the bill is that all high income people will benefit. Of course the take out of taxes will become less, so people will think they are getting more. But people won't realize it actual effect until 4/15/2019. It MAY get Republicans past the 2018 election, and then they can start talking about fake news, and alternative facts again. What is actually going to happen to middle class people.. is people will see a little more money in their paycheck. Come tax filing, what they will see is a significant decrease in their refunds. It will all balance out, if not in actuality mean an increase in overall total of combined taxes and tax refunds for most of the middle class.
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Believe it or not , we have become a country in which the middle to lower class, depend on their yearly tax refunds. They have become accustom to it, for the middle and lower class tax time is not about paying taxes it about their refund. In 2019... the sh*t is going to hit the fan. Their is something else to consider, lowering taxes, mean less take out paid to government in advance of refunds. Although people don't see it, it is a significant increased in revenue to the government, getting to hold that money until refund time. Believe it or not, decreasing refunds.. is not a benefit to the government.
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n a round about way all these idea effect business more than they ACTUALLY effect the taxpayer.. the significance of advance payments of taxes to the government by both employers and self employed. the benefit of advance payments goes to the government at the expense of businesses not employees. the cost of advance tax payment to business is substantial to business operations. The money to the government that comes in quarterly, is almost it's entire budget, not the amount that comes in on 4/15. the reckoning of 4/15 is simply a benefit to the government. To know this is the truth all you have to do is be the one writing the check each quarter to the government.
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Don't kid yourself to not understand how this all works. The projected 1.4 billion dollar deficit, is not because of lowering taxes to the middle class. Republican don't do that... what we can ascertain is that the appearance of lowering middle class taxes is no more than a wash. It's give and take to balance it out. The 1.4 trillion dollar deficit is a result of lowering taxes to the wealthy. Now the reason that is supposedly okay with Republicans, is because the wealthy are the only ones that can give it back. The wealthy will decide to give it back. It's an incentive to the wealthy to give it back. The wealthy will do the right thing! The wealthy is not a government adversary...They are partners! Yeah Right!.. since when has the wealthy made a decision.. that's not to the benefit of the wealthy, but to the government?
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