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TheDame 43 sec ago
The rich will not be hiring. They presently expect employees to do the job of 2-3 employees. Do you think that once they get a tax break, they'll hire new people to take some of the burden off of you? Do you think they'll hire back all those employees who were downsized as their jobs went to China? Do you think they'll give better benefits to the people who are still working for them without raising the cost (of paying for those benefits) ? None of this will happen. The money saved on taxes will go to upper management salaries, their bonuses, shareholders and the rest will sit on the books to make the company look good.
https://www.yahoo.com/finance/news/gop-tax-plan-heads-senate-195835093.html
GOP Tax Plan Heads to Senate Floor for Vote Likely This Week
Erik Wasson Erik Wasson
The Senate Budget Committee sent Republicans’ massive tax-cut bill to the full Senate for a marathon debate and vote as early as Thursday -- a major step toward getting a plan enacted by the end of this year.
The 12-11 party-line vote Tuesday came after Republican leaders addressed objections raised by GOP committee members who threatened to block it. The House passed its own tax-cut measure last month, and Senate Republicans can afford to lose no more than two votes among their ranks to pass the measure without Democratic help.
More from Bloomberg.com: These Eight Senators Can Make or Break the GOP Tax Plan
The bill would cut the corporate tax rate to 20 percent from 35 percent in 2019 and reduce individual rates and double the standard deduction until 2026 -- adding $1.4 trillion to the federal deficit over a decade. The legislation also would open the Arctic National Wildlife Reserve to oil drilling.
Just one GOP senator on the panel would have had the power to block the bill given the majority’s one-vote margin in committee.
GOP committee member Bob Corker of Tennessee said he reached an an agreement with Senate tax writers on a broad outline for a revenue trigger provision that he and other GOP senators are seeking. He has sought a "backstop" that would create automatic tax increases if the tax bill doesn’t spur strong economic growth as Republicans have promised.
COMMENTS :
Brandon 1 hr ago
To borrow an old saying, a middle class person voting Republican is like a chicken voting for Colonel Sanders (of Kentucky Fried Chicken).
KM 1 hr ago
The tax plan is garbage. The republicans make out like it's suppose to help the average guy, but it won't. It will help corporations make more money, but the American worker will get stiffed because profits will go the CEO who's already making $20 million a year, and the rest (of the profit) will go to buy back shares so the company's balance sheet looks good. Any fool that votes for this is hurting the American worker because he won't see a dime, - just a new Mercedes in the CEO (parking) space. Republicans first. America second!
0 0 1 hr ago
Trumpanzees, why is it when we take from the rich to give to the poor, it's "Socialism?" However, if we take from the poor to give to the rich, it's "job creation?" (what job ? where ? nth-fl)
TheDame 43 sec ago
The rich will not be hiring. They presently expect employees to do the job of 2-3 employees. Do you think that once they get a tax break, they'll hire new people to take some of the burden off of you? Do you think they'll hire back all those employees who were downsized as their jobs went to China? Do you think they'll give better benefits to the people who are still working for them without raising the cost? None of this will happen. The money saved on taxes will go to upper management salaries, their bonuses, shareholders and the rest will sit on the books to make the company look good.
Sharon 2 hr ago
Real headline should read... "Deficit Hawks Prove They Are Just a Bunch of Chickens". We all know that the GOP is planning on shortfalls (deficits) so they can slash entitlements and further harm those that will end up paying for big tax breaks for the rich/corporations. SAD but we all know they have to pay their masters that own them !!!
hristopher 1 hr ago
Only a fool could believe this tax bill benefits the middle class. Sure it provides temporary relief to the middle class, but only to distract from the PERMANENT benefits being provided to the top 1%. Throw in the 1.5 trillion added to the deficit and this is going to hurt the middle class a lot more than it will help.
mojo 2 hr ago
So we are borrowing to give tax cut to Corporations that hardly pay any taxes and giving to the wealthy like they need it and taking away from the poorest. Welcome to new America.