This was true at one point. But with 24/7 news coverage and social media, it is not true today.
@bclintonk, it is called “Take Out The Trash Day” when they put it out on Friday afternoon. My guess is they will vote in the House and Senate before the bill is even scored for it’s impact. That is the only way to get it through.
The house is voting first which will allow McCain to return.
I can’t wait for the midterms.
The latest iteration lowered the tax rate for rich people. How did they pay for this giveaway? We don’t know, because nobody but the writers has seen the bill.
@“Cardinal Fang” in addition to lowering the top rate, they have Marco Rubio the increase in credit so I also wonder how it paid for.
WSJ reports that Rubio is now a yes.
No disagreement from me on that. This is the choice that US taxpayers have repeatedly made, even before this latest tax bill fiasco, when tax bills were discussed responsibly. US taxes were already too low across all income levels to support social services for those that need it most.
One way they did it was they shortened the sunset by one year on the “middle class tax cuts”.
Anyone who thinks this bill is for anyone else but corporations and the extremely wealthy is a dope. They threw a few crumbs to the middle class so they can lie with a straight face and say it’s a middle class tax cut.
I also found out medical deductions is temporary which will hurt a lot of families.
Norms and winning.
Related to this wealth redistribution and spending cut bill, it is interesting how completely the GOP reverses itself without consequence.
We’ve seen many other instances of this, especially with regard to concern about the deficit and confirmation of supreme court justices, etc.
Now, I am undoubtedly suffering from confirmation bias, but it certainly seems apparent in this bill that policy does not matter. I have not seen a single reliable policy analysis that says this bill will be good for the country. Increasing the deficit at the peak of the economic cycle is not a good idea whether you are a Keynesian or Austrian.
Popularity and polling data don’t matter.
Reversals of previous positions don’t matter.
Clearly, bi-partisanship is dead and cold, the CHIP bill can’t even pass.
Is counting a win for “your side” the only thing that matters?
If the D’s are fortunate enough to win the White House, Senate and House in 2020 (a possibility, but far, far from a certainty) can we now expect tax changes every 4 years? Will punitive legislation become the norm? 2025 45% marginal tax rates on real-estate pass-through entities? 55% estate taxes on estates over 2M? Only a simple majority of the House, Senate, and a President needed.
I used to believe that policy was a damped sine way that converged to the logical solution with small oscillations. It now seems that oscillations are the only thing
While our government IQ may low, our government Q factor is extremely high.
CORKER JUST ANNOUNCED HIS SUPPORT, It’s a done deal
And lowered mortgage deduction to $750K from $1M and increased corporate tax to 21% from 20%.
We should have praised House GOP profusely when they kept 39.5% rate for the highest income. They might have stuck to it if we praised nonstop.
New rules:
- Presidents cannot appoint Supreme Court Justices if the other party holds the Senate.
- Minority party members are not entitled to see proposed legislation until it is enacted into law.
- Deficits do not matter. Legislation never has to pay for itself.
I hope everyone in both parties is paying attention to the new rules.
Twitter is worried that another shoe is about to drop.
I cannot believe Corker considering nothing was done to address his concerns. This is a cluster. You don’t cut taxes when the economy is roaring. There will be nothing left in the arsenal when we have a downturn.
@Ynotgo, too ambiguous for me? Any particular style of shoe?
@Dave_N Russia-related. Don’t want to veer too far off topic, but certain shoes would distract most everyone from the tax bill. Try Rep. Adam Schiff’s twitter feed.
Is there anyone here at all who believes that this tax bill will increase people’s wages? If so, what is the mechanism you posit, and why aren’t corporations who are already awash in cash already using it to increase people’s wages?
And it appears that our elected officials are not even trying to understand this. From Rep. Tom Cole.
Remember all but one economist surveyed by U of Chicago said this was not going to pay for itself. The other one misread the question.
https://www.cnbc.com/2017/12/15/rep-tom-cole-doesnt-trust-the-economists-on-gop-tax-plan.html
Party over country without even being willing to try to understand the consequences.
This is bad. This is very, very bad.