Sen. John McCain will back the Senate GOP's tax bill, increasing the plan's chances of clearing the Senate by Friday.
McCain was one of the last GOP senators who had not committed to supporting the proposal.
"After careful thought and consideration, I have decided to support the Senate tax reform bill," McCain said in a statement Thursday. "I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families."
https://www.cnbc.com/2017/11/30/mccain-will-support-senate-tax-bill-boosting-chances-of-passage.html
That should just about do it.
https://www.cnbc.com/2017/11/30/mccain-will-support-senate-tax-bill-boosting-chances-of-passage.html
That should just about do it.
https://www.cnbc.com/2017/11/30/mccain-will-support-senate-tax-bill-boosting-chances-of-passage.html
That should just about do it.
Meh, it will come out in the wash. Midterms should be interesting.
Democrats better be working hard on a message that will get voters out and to the polls in at-risk states red seats and vulnerable blue seats. They cannot just run on a platform of "Trump is bad, we aren't Trump."
Funny thing about passing a very unpopular tax cut for the wealthy...it kinda writes the campaign slogans for the Democrats.
Kind of a shame imo, the middle class should be getting the tax cuts, not the wealthy.
Funny thing about passing a very unpopular tax cut for the wealthy...it kinda writes the campaign slogans for the Democrats.
Who do you think hires?
Major companies including Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting President Donald Trump’s promise that his plan will create jobs and boost wages for the middle class.
The president has held fast to his pledge even as top executives’ comments have run counter to it for months. Instead of hiring more workers or raising their pay, many companies say they’ll first increase dividends or buy back their own shares.
When he says this, "and provide long overdue tax relief for middle class families" he's really lying. What he should have said is it "provides long overdue tax relief for our donors, who have paid good money for years for this tax bill and we are delivering on our promises to our wealthy puppet masters."
The bill gives very small, and temporary, tax relief to some middle class families. And these guys who care about deficits - how are they going to pay for $150 billion in immediate spending cuts required under Paygo? Or the $10 trillion in projected deficits without this new tax bill? That's going to hit "middle class" families and the poor and old in some way because that's where we spend our money.
Etc.
It's really disappointing that even guys like McCain, Flake and Corker who aren't running for reelection are falling on their swords to pass this POS bill.
Apparently not the people getting the tax cut.
https://www.bloomberg.com/news/arti...ses-undercut-by-ceo-plans-to-reward-investors
Oh wait...you thought giving more money to corporations that are already flush with cash and who are not hiring would magically inventivize them to hire? How does that work exactly?
Meh, it will come out in the wash. Midterms should be interesting.
Just by Repealing Obama executive orders and instructing the IRS not to enforce Obamacare, President Trump has created the best economy in 16 years that over the last 6 months improved faster than it has in 35 years. He is already having no problem with the middle class, after the results of this bill they will be wanting to change an Amendment to give him a 3rd term.
So you appear to think shareholders have no incentive to have their companies prosper.. That seems odd.
The plan that Republicans call a "jobs bill" in fact encourages corporations to send work offshore and replace labor with machines, negating Trump's campaign promise to bring back American jobs.
Tax advantages for businesses make up the vast majority of the Senate tax plan, at 60 percent of the total cost. Some of these incentives are structured to incentivize companies to automate and reduce American jobs.
“We are creating huge subsidies in our tax code for capital and encouraging employers to use machines instead of labor,” said Daron Acemoglu, an MIT economics professor.
The bill includes a provision called "Full and Immediate Expensing" that allows a company to deduct the cost of any new asset right away instead of when it sells the asset or as deductions depreciate over time. That means a company can take out a cheap loan, use it to purchase an expensive machine, and write it off immediately. Some economists argue that this could spur companies to favor automation over jobs and to invest in robots over people.
Just by Repealing Obama executive orders and instructing the IRS not to enforce Obamacare, President Trump has created the best economy in 16 years that over the last 6 months improved faster than it has in 35 years. He is already having no problem with the middle class, after the results of this bill they will be wanting to change an Amendment to give him a 3rd term.
Uh huh.Just by Repealing Obama executive orders and instructing the IRS not to enforce Obamacare, President Trump has created the best economy in 16 years that over the last 6 months improved faster than it has in 35 years. He is already having no problem with the middle class, after the results of this bill they will be wanting to change an Amendment to give him a 3rd term.
Delusional. There are not a lot of significant differences between the economy under Obama and the economy under Trump.
Uh huh.
Sent from my LG-H910 using Tapatalk
Partisan economic perception is reality. You know what happened in the last year? The number of Democrats who thought the economy was going well dived, while the really low number of Republicans who thought the economy was going well soared.You obviously are not keeping up with current events.
Most Job openings in 17 years. Highest consumer confidence in 18 years. The first actual Blue Collar income increases compared to inflation in 16 years. Fastest economy improvement in 35 years over the last 6 months.
Just because MSM is desperately ignoring it doesn't mean it is not happening.
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