The House won't include this in their bill, meaning this goes to conference and in that time Senator Moore or Jones will join the Senate. If Corker is against deficit growth, and Collins against ACA repeal, tax reform dies. Ya don't need Murkowski or McCain or Rand Paul.
Well not mine & maybe not yours. But some unlucky suckers will get slammed. Smells of Jheri Curl...Rand Paul, you behind this POS??
Doctor Rand Paul to you, pal! Wonder if he had a co-pay for the broken rib treatment. Think Congresscritters have Cadillac HC plan if I'm not mistaken. Edit - actually under Obamacare now where govt covers 75% https://www.npr.org/sections/health...smans-health-insurance-if-obamacare-goes-down
MSNBC seems to be hiring. Dystopian novelists are doing well. And FBI investigators. Don't forget about them too.
The GOP seems to be conceding the high-income suburbs. First, there was the proposal to eliminate state- and property-tax deductions, which hits the Range Rover suburbanites. Now the Senate proposes to change tax-loss rules when selling securities -- a somewhat arcane provision that effectively will raise the tax rate for people who have large investments in taxable accounts. It hurts only the wealthy -- although not necessarily the top 1%, more like the next 5%. Which increasingly are blue voters, and will be ever more so as they realize the GOP is washing its hands of them. The GOP appears to be cobbling together a coalition of the donor class, and then the white middle and lower classes.
A lot of those things the GOP is doing is targeting Blue states, and attempting to shore up Red states. The two things, though, which I don't think they understand is how the effects of the removal of the student loan deduction and the mortgage deduction are going to cause them to lose support. Of course, I got to get them credit in the ways they display their anti-intellectualism now making grad school more expensive. https://www.wired.com/story/grad-students-are-freaking-out-about-the-gops-tax-plan-they-should-be/
Yes and no. That group raised a fuss with TrumpCare, but they weren't bothered by Trump's executive orders on health care, and I doubt they'll been concerned with the tax bill removing the mandate. Those are indirect measures.
We need to stop thinking about these policies in the context of how the Trump base perceives them. Those people are unreachable. Trump's approval floor so far is 36%, and it's pretty unlikely that it can fall much lower than that under any circumstances. The problem with these policies isn't that Trump's base is likely to wake up one day and finally "get it". The problem is that liberals across the spectrum are paying attention and they are getting it. This is the downside of Trump's governing style. It attracts so much attention that it's more difficult for GOP to sweep things under the rug when liberals aren't paying attention. These bums are not going to be thrown out by reformed Trump voters. They'll be thrown out by above average enthusiasm from people who are already left leaning voters. Policies like repealing student loan deduction just calcifies left leaning voters and contributes to making them immune to GOP campaign distractions. Or at least that's my hope for next year, and that seems to be the trend in this month's special elections.
https://www.vox.com/policy-and-politics/2017/11/15/16653698/ceos-investment-tax-reform Gary Cohn gets embarrassed when very few CEOs say the coming tax cuts will affect their plans. The reason for this is obvious...corporations are already sitting on mountains of cash. They aren't investing it because there is insufficient demand in the economy to justify it. Giving them more money will just mean them buying back stock, which means those who hold stocks now will benefit by an increase in the demand for their investment. Here's another one. http://www.motherjones.com/kevin-dr...-new-way-to-punish-liberals-via-the-tax-code/ They're messing with how the capital gains from stock options are taxed in a stupid way.
I once asked our CFO about the then-popular idea that Washington (meaning Barack Obama) was hurting the economy because companies were holding off investing due to "uncertainty" about future tax policy. He said no companies base decisions on things like that. Speaking of which, shouldn't the economy now be suffering because of tax-policy uncertainty? Republicans are so full of it, I can't believe they don't spit out their coffee when writing these ridiculous things.
This always made me laugh at the Hotel Investment conference i attend each year The big US brand CEOs complained about austerity endlessly, as well as political shocks like Brexit they like stuff like QE
I have always been a proponent of taxing consumption rather than income, but if you insist on taxing income then lower the rates and broaden the base. (And while we are at let's simplify the system).
Ron Johnson, R-WI, just came out against the tax plan. Susan Collins has too, right? That means no margin for error. They've got to keep Corker on board. They can't lose Toomey, R-PA, who may not want to face suburban Philly voters after voting to raise their taxes (loss of deductibility of SALT). Any other likely defections? @ElJefe what do you think Gardner might do?
The notion that tax rates don't effect decisions on either a corporate or individual basis is beyond naïve. Tim Cook has promised to repatriate billions and Apple is just one company with merely a quarter trillion in cash overseas.
Damn. We knew it was already going to be tough for a black woman to come out ahead with Mnuchin and Trump not a fan of anything Obama administration.
Do try and keep up lad - this was covered already. I'm getting some questions from people suggesting that capital inflows from tax cuts wouldn't hurt manufacturing, bc the money would be spent on equipment, i.e., manufactured goods. But you need to recognize what investment means in the 21st century 1/ https://t.co/tIzGu9i8Fx— Paul Krugman (@paulkrugman) November 14, 2017 Operational decisions won't be impacted as consumption won't have increased, Apple won't spend any more money on R&D or pay or hiring. Instead they will return the $ to shareholders Also the influx of trillions extra were blow out the US trade deficit even more - resulting in job losses.