History will not forget the fiscal irresponsibility done yesterday

Dems don't have a reputation for being fiscally responsible nor do they normally campaign on that or the debt ceiling. We've had these teabag idiots talk about a black president running the country down through increasing the debt, driving up fears of hyperinflation and default (of their own doing) only to be elected on that platform and doing the exact opposite. They came to be , btw, from the outrage of a previous corporate bailout by the last Republican president that doled out corporate welfare and drove up the deficit.

Bless your heart, you have some selective memory. Better check your wallet and count your money.

I'm pissed but I'm not surprised the fools who were lied too aren't. They're too busy gloating over what amounts to be hundreds of dollars that they likely won't even bank. Such is the life of a loyal party dog. Lick your balls and eat your ****. The dream is still alive.

 

Another last minute POS plan thrown together by the repubs - how many years did they have to prepare for this one?

 

Has anyone in the entire country read the d*mn thing?
I would bet that not one single solitary senator or representative have read every word of the d*mn thing

Rocket River

 

Unfortunately America just won’t care. The 1986 tax changes, repeal of Glass Steagall, 2003 Medicare Part D bill which allowed big Pharma to charge whatever they wanted without a cost cap, on and on and on. It’s not hard to go back and identify the laws that have ruined this country economically but no one cares.

If right now America is either too stupid or too apathetic to recall that trickle down has been tried multiple times at both the state and federal level to absolute failure then the country deserve the consequences.

Sigh.

 

White Women abandoned Hillary
as for your prediction . . .I seriously doubt it
Though Condi Rice is looking like fricking JFK compared to the ass hats that have been put out there the last few elections.
She could legitimately get me to think about voting republican . .. but I would need to hear more from her
but
alas there is no way in hell they will allow her to run.

I have not eaten a Martian space rock . . .. . . but I suspect strongly it is not good for me

Rocket River

 

Obama increased the debt by $8-9 trillion, and now all of a sudden liberals are concerned about what they describe as a $1 Trillion impact (which many suggest won't come to pass). Love the hypocrisy, libs!

 

It's hypocrisy for any partisan to pretend they care about the debt. You have one ridiculously fiscally irresponsible party and the other party is merely just fiscally irresponsible. Neither of them really care about an ever increasing amount of debt, if they did, they'd have passed a balanced budget amendment and some real cuts to spending. Neither of those things would ever get passed no matter which party had control over congress. They are both free spenders who seek to buy votes by burdening future generations with crippling debt.

 

Honestly this tax bill is not that big of a deal. Some people will pay a little more. Some will pay less.

The left are just upset poor people are not getting more things for free at the expense of the middle class and wealthy.

OP is making a fool of himself as usual.

 

I think we should plan on making massive shift of wealth to the top every 4 years while adding 1.5T to the deficit. We should repeat the process of making major last hour changes, vote on it without time for anyone to comprehend the whole bill, and certainly without any debate whatsoever, and absolutely reject any allowance for the public to provide feedback. This type of wealth shift, deficit spike, and fk-the-regular-order of congressional process is no big deal.

Beside that, removing the Obamacare mandate without any health care changes to deal with the consequence of hacking away the leg of health care impacting 10s of million isn't a big deal.

 

If you really gave a **** about the deficit instead of an obstructionist attitude, you would bemoaning the massive waste and spending.

This reminds me of the famous quote ~"we must pass it to know whats in it". You seem not to have a problem with that type of mentality. #liberalhippocracy

I have no problem what so ever fast tracking this failure. Neither party really cares about healthcare. Now maybe they will be forced to deal with the issue instead of caving to the massive medicine cartel that the Obama administration caved to.

 

So 1.5T for the top is cool? If it's 1.5T for the lower 95%, I'm a much happy camper.

You got only slogan. The reality is Obamacare was debated to death. There is no comparison here.

Yeap, I see you have no problem that 10s of million will suffer. We should do that anytime we are not happy and hope our meanness will drive to a better outcome down the road. That's an awesome humane strategy.

 

Yup. At least you admit you dont care about the deficit. People like you are only happy until those better off than you are in the same class as you.

You're right. This tax bill wasn't crammed through Congress like Obamacare. At least the House has a chance to reconcile the tax bill.

You're the one who thinks the best solution is to leave the for-profit private insurance companies as the gate keepers. You still deny the impending failure of Obamacare and think the current status quo is just fine. As a 'wise' man once said, That's an awesome humane strategy.

 

Nope. I care about the deficit. But if we are going to have a binary choice of 1.5T in the red to help the 1% vs the 95%, it's an easy choice.

Concerning my class. I'll give you a hint. The tax changes likely benefit me more than most.

There you go again. You refuse to acknowledge how abnormal of a process this was. Obamacare have a live public debate for god sake. But keep on ignoring facts to hold your view.

Nope again. I'm for a single payer and I have said Obamacare need fixing. Most have said at least Obamacare need fixing. Strawman away if you want. The fact is you don't care that 10s million will suffer. It is what you have stated --- suffer now for the possible greater good down the road. Humane indeed. Completely reckless and irresponsible.

EDIT: I think you do care about 10s millions suffering, but that's the excuse you come up with because you have to play the team part. But maybe I'm wrong and you don't care.

 

you guys do realize there's still a ways to go on this thing right?

 

WSJ editorial:

https://www.wsj.com/articles/the-senates-tax-advance-1512173001

The Senate’s Tax Advance
A House-Senate conference can make the final bill better.



Senator Jeff Flake, a Republican from Arizona, speaks during a Senate Foreign Relations Committee hearing in Washington, D.C., Oct. 30. PHOTO: ZACH GIBSON/BLOOMBERG NEWS
By
The Editorial Board
Dec. 1, 2017 7:03 p.m. ET
335 COMMENTS


The Senate was poised to pass its version of tax reform as we went to press Friday evening, with likely 51 of 52 Republicans in favor but no Democrats. The last few days of vote-buying weren’t pretty, but the big picture is that reform has taken a giant step forward.

The bill won’t include Bob Corker’s proposed “trigger” that would have revoked some of the tax cuts if revenues failed to materialize as estimated by Congress’s budget gnomes. The original mechanism ran into procedural trouble under Senate budget rules, and the GOP decided not to write a tax increase into the bill. This is good sense given that no one knows what the economy will look like in six years.

But Senate leaders did have to mollify Ron Johnson (Wisconsin) and Steve Daines (Montana), who demanded a bigger tax break for “pass through” businesses that may now have an advantage over corporate competitors, which are taxed on income and dividends. The duo were offered a 20% business-income deduction (up from 17.4%) but held out for 23% for a small group of large companies.


Another winner is Maine’s Susan Collins, whose take-home gifts include a maximum $10,000 deduction for state-and-local property taxes; broadening a medical expense deduction that defies the purpose of simplification and lower rates; and a promise to pass a bipartisan health deal to shore up ObamaCare. Did she ghost-write “The Art of the Deal”?

Jeff Flake of Arizona insisted on one pointless change, though to his credit he is voting for a bill that will benefit the country despite his differences with President Trump. The Senate and House bills allow for immediate expensing on new investments for businesses for five years, and the assumption is this will be extended. Mr. Flake thinks this is false deficit advertising, and so his change would phase out expensing over time. That won’t bind a future Congress, and in the meantime Mr. Flake ate up billions that had to be paid for by worse policy elsewhere.

By the way, Democrats are flogging a Joint Committee on Taxation report this week that the tax bill will increase the deficit even on a “dynamic” basis that considers how individuals will respond to incentives. But the real news is that even Joint Tax says the bill is pro-growth, adding 0.8% to the economy, which is miraculous given its historic biases. Joint Tax models posit a relatively closed U.S. economy rather than an open global capital market that could finance U.S. deficits.

Some Senators in their self-regard will now want the House to accept their product whole, but there should be a conference committee to blend the best of both bills. The Senate’s “base-erosion” rules that prevent corporate tax dodging are better, but the House bill’s cap on the mortgage-interest deduction and elimination of other carve-outs deserve inclusion. Ditto the repeal of the death tax.

We can also dare to hope that a conference will fix the bill’s biggest flaw, which is a lousy individual tax reform that raises taxes on many Americans in high-tax states. Eliminating the state-and-local income tax deduction, as both bills do, is sound policy. But the bills don’t offset that with a corresponding reduction in the top marginal tax rate. This means many productive people will soon face marginal rates well above 50% in New York and California.


The Senate bill merely reduces the top rate to 38.5% from 39.6%, and the House even raises it with a bubble bracket of 45.6% on some earners. The great irony is that the GOP is raising taxes on some of its most loyal voters if individual rates stay as they are.

A conference committee needn’t take long given that the two bills share a basic structure and the core virtue of a 20% corporate tax rate. But the details deserve scrutiny, and making the bill as pro-growth as possible is worth the extra political lift.

Appeared in the December 2, 2017, print edition as 'The Senate???s Tax Advance.'
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