A lump of coal brought to you for X-mess by courtesy of the Koch brothers.
Meanwhile , Americans who canāt wake up from this GOP inspired nightmare exclaim in despair āThis isnāt happeningā!
People I know who voted for Trump sincerely believed he was going to help the average middle class person. Most still watch Fox so wonāt know for a while that this is a terrible bill.
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One of many ads the Democrats will run in 2018. Good one.
Ayn Rand , through Paul Ryan , is fucking America .
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Fuck Paul Ryan. Also, fuck Paul Ryan. In addition, fuck Paul Ryan.
ETA: Fuck him.
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What TPM, in particular Josh Marshallās liberal perspective, misses is that Trumpās mass following allowed the old mainstream of finance and industrial capital to get the votes to win. Itās not about civil discourse or political parties, but about the naked rule of capital (this could be seen clearly in the 2014 congressional elections, where mainstream media backed Tea Party and similar candidates). Its more conservative wing has been fighting this battle since Roosevelt and has finally won (for the most part). The first catch is that the U.S. is not the rising capitalist power of pre- and immediate post-WWII years (until the mid 1960s), but a long languishing one economically in a much more competitive world. Rearranging the tax structure, i.e., a further cut in wages, may buy some time, but is not going to solve that fundamental problem. Itāll take a world war to do that, but given technological advances worldwide and the rise of still basically collectivist China, along with imperialist Russia and whatever shakes out in Europe, the competition will be a lot stiffer this time.
Then thereās the matter of how long the politically backward Anerican (mainly white) masses are going to sit on their hands.
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If Moore goes to the mall, someone or a lot of someones better keep on eye him since heās a known danger to teen-aged girls.
I still have another 400 pages to go of the summary, but in a nutshell this bill is essentially a wash to higher taxes for most middle to upper middle class families.
The reason is that it subjects more income to tax. It eliminates personal exemptions, it eliminates most itemized deductions, it limits to eliminates the ability to shield capital gains from real estate sales from taxes, it eliminates the ability to deduct interest from loans secured by oneās home (a major asset). Thereās a lot more here and Iām putting a table together to be able to double check and summarize things that I spot.
Roughly stated if you had 120k in gross income, under the current system, youād be able to exclude more of it from taxes so you might only pay taxes on 85k of income. Under this new bill, youād likely have 100k subject to tax. So even if the rate is lower, youāre paying that lower rate on a higher amount of taxable income, which makes puts you in the same place. There are also fewer incentives to save, invest and grow. More disposable income will be needed to pay for higher interest rates, higher health insurance premiums and college tuition. This bill is going to suck economy out of the middle class just as interest rates are going up and there is inflation risk. Itās a bad combo.
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Itās ridiculous to watch politicians gloat as they do harm to millions of Americans and our future. Ryan looks thrilled that heās being cheered by his fellow self-dealers. Republicans are creating what we do not need: a new and utterly useless aristocracy.
Itās pretty certain that the Chinese donāt mind, but they must be bewildered that the U.S. is so casually handing world leadership over to them.
And all of that is why our system is so nice - nothing lasts.
Once we get control back weāll change it. Weāll get control back next year.
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Inflation is a bigger issue with the tax plan than the increase in national debt. I am old enough to remember the inflation that became an issue that Carter did not get a second term. I wish economists would address what happens when you add $1.5 trillion into the economy when the economy is already having low unemployment and corporations are making record profits. What happens when this money is given to the richest among us. Why would the corporations invest in their facilities, when demand is the same increasing their supply of products is not logical. I just believe that $1.5 trillion infused into our economy will do something bad when our economy is already running in a hyper rate.
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Republicans are gleeful because this is what they KNOW DONORS want in exchange for continuing donations.
Those fuckers sold all the way out, while failing to find ways to get money out of the campaign process. They also are continuing to fail poor children by ignoring CHIP, failing the Dreamers and everyone else who is not wealthy. Time to organizeā¦
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Butā¦ butā¦ butā¦ didnāt cutting taxes in Kansas work??? More revenue and more jobs???
Well, NO it didnāt. Every media outlet in the country should report on the Kansas fiasco, where cutting taxes led to [gasp!] LESS REVENUE!!! And no noticeable increase in economic growth and jobs.
Even the idiots in the Kanas legislature recognized this fubar for what it was and with their tails between their legs, had to eventually raise taxes to cover the huge revenue shortfalls, especially in education.
Fucking idiots.
And this āmajorā piece of shit tax legislation the Thugs passed is that same garbage.
When will the GOP voters wake up? Donāt they realize Trumpsky and the rest of the worthless GOP are screwing them!!!
Just wait for the cuts in Medicare and Social Security. Hopefully, that will wake up some (but not all) of the Fux viewers. That is, if whatever they have for brains is still working (as if).
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While I agree to a bit with that, Iām sure that you will agree that the REASON for the debt is important. Had we put a lot of infrastructure fixes onto the credit card, we would have a fixed-up infrastructure. What do we get for this debt? Nothing. Thatās the sucky thing.
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You may be right, and things might go up for a while. But the stock market is certainly in for an (overdue) correction. As the market continues to rise (as it has for many months), and stocks become more expensive, outpacing earnings, it will take only one event or a series of events , to spook investors and see them rushing to the exits to preserve their winnings. Once this happens, and it is bound to happen (the market does not go up forever), it will not be a pretty sight.
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[quote=ālittlegirlblue, post:94, topic:66427ā]
Rex Tillerson. Heāll be fired sooner than later and Corker was on the Senate Foreign Relations Committee. Heās got his eye on that prize so must please the orange thing.
[/quote]Corker will get the same as Romney, Christie and others - sell your soul for Trump and end up with nothing but an empty hole where it used to be.
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How is it that every Republican bill so far this year is being passed through reconciliation rules (whatever they are) requiring only 50 votes, whereas every bill passed during the Obama administration required 60 votes for cloture?
I mean, the new tax law is adding trillions to the debt, yet still qualifies for passage outside of regular order?
Meanwhile my fellow lefties on social media are STILL OBSESSED with the āpurityā of the Democratic Party, a constant requirement of being seduced into voting at all, and the now offensive lyrics to the almost 70 year-old song āBaby itās Cold Outsideā!
This is why Trump is gleefully dismantling out democratic institutions, and judicial system! How to stay āwokeā progressives!!
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Social Security and Medicare are about to be dismantled while progressive whine that they just arenāt excited about āmiddle of the roadā candidates and stay home on election day, thatās if theyāve even bothered to register to vote.
At least we wonāt have to ask āHow did this happen?ā!
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