Republicans Bet The Farm

Comment #7

konane — Fri, 22 Dec 2017 19:28:43 GMT

Thanks Sully. Just breaks my heart their plan to turn us into another Venezuela didn't work. I wonder also. We may never hear about fines/agreements they come to in lieu of prosecution.

Comment #6

sully16 — Fri, 22 Dec 2017 18:43:09 GMT

Hollywood, Congress, the media

Comment #5

sully16 — Fri, 22 Dec 2017 17:21:24 GMT

Guess they will have to stop flooding their States with illegals and ask Uncle Trump how to create jobs! lol lol lol

Comment #4

konane — Fri, 22 Dec 2017 16:30:33 GMT

Thanks JAP. Plans for their socialist utopia evaporated.

Comment #3

JAP69 — Fri, 22 Dec 2017 16:19:59 GMT

____________________________<br />Yep,<br />I posted a comment on another site a day or two ago about the same observation about the tax bill.<br />The Democrats opposed this tax legislation on that basis. Can not expand social programs without taxation.<br

Comment #2

konane — Fri, 22 Dec 2017 16:11:53 GMT

Comment #1

JAP69 — Fri, 22 Dec 2017 16:09:27 GMT

Does not look like a huge tax break to the wealthy to me.

Original Blog Entry: Republicans Bet The Farm

konane — Fri, 22 Dec 2017 16:00:25 GMT

Note in last sentence Uncle Sam is no longer helping carry. I'm not an accountant but lowering the allowable interest and tax deduction to $10,000 the tax bill is making the wealthy to rich pay more federal taxes because they can't write it off. Hence gnashing of teeth that the world's coming to an end.

Republicans Bet The Farm

....And the Democratic Party has also been put into a tight box.

As Democrats have denounced the tax bill for exploding the debt by $1.5 trillion, how do they propose to pay for all the free stuff, including free tuition and infrastructure, that they will have on offer?

There are only two options: borrowing and growing the national debt themselves or raising taxes, as Mondale promised to do.

Another problem for Democrats is the new $10,000 limit on the tax deduction for state and local income and property taxes.

In blue states like Oregon, Minnesota, New Jersey, Vermont, Hawaii, the top state income tax rate is 8 to 10 percent. In Jerry Brown s California and Andrew Cuomo s New York, it hits 13 percent before adding property taxes on homes and condos in Manhattan and second homes out on Long Island.

Virtually eliminating state and local tax deductions is going to cause some of the rich to consider relocating to low-tax or no-tax red states in the Sun Belt like Florida. And it is going to put pressure on blue state pols to cease adding to the state and local tax burdens that Uncle Sam is no longer helping to carry.....

http://www.zerohedge.com/news/2017-12-22/republicans-bet-farm

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