Monday, December 18, 2017

Tax Scam

1000+ pages?!  That is simplifying the tax system?
Included in the latest version...

  • Excise tax added to certain people working for a non profit.  So not only are they taxed on income they get a penalty for going to a non profit.  Why?
  • Individual cuts still temporary.  All expire in 2025.  Yes they may get renewed but that they have to put that in there to keep the deficit down means its going to be a problem.
  • State and Local tax deduction capped at 10K
  • Repeal the AHCA mandate means young healthy people drop out everyone else pays higher premiums
  • .Corporate rate 21% but most loopholes left in, and Doctors and a lot of small businesses will get hit harder.  Another reason premiums and health care will go up.
  • Special kickback to real estate people.
  • Carried Interest (Wall Street loophole) still left in despite Trump and everyone in the GOP asked saying they would get rid of it.

Think about this.
  • If the GOP thinks this bill will be great for wage growth, why are none of them able to offer specifics?
  • If its really good for America why do most economists disagree?  Why rush this through in a nonpartisan manner and avoid any public hearings?  Only Lobbyists were invited to the party, the public was left out.
  • Why does tax reform need to be over ONE THOUSAND pages long?  If they were really closing loopholes it should be short.
If they have to rush it through before people get a good luck that indicates they are afraid of what people will see.

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