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Old 11-09-2017
# 1   Heimdallr is offline
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Default House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
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The tax reform plan crafted by House Republicans would add $1.7 trillion to the debt over the next decade, according to a brief analysis released Wednesday by the nonpartisan Congressional Budget Office (CBO).

The projection could be a problem for Republicans because they are using special budget reconciliation rules to avoid a 60-vote threshold in the Senate and those rules required that the bill only increase the federal debt by $1.5 trillion over 10 years.

House Republicans unveiled their tax overhaul last week, and have been marking up their legislation in committee this week. Senate Republicans have not released their proposal yet. Several GOP lawmakers in the House have already come out against their colleagues' plan.

The plan would reduce tax rates for low and middle-income Americans and doubles the standard deduction from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples. The bill would eliminate certain taxes, like the Alternative Minimum Tax and the so-called "death tax."...

...It would lower the corporate tax rate to 20 percent, which the talking points say are the largest reduction for the U.S. corporate tax rate in history. It would also lower the tax rate on "hard-earned business income of Main street job creators" to no more than 25 percent, the talking points say... More ... (CBS News/MSN - 8 Nov 2017)

RELATED: Senate bill to unwrap with tax cuts, end to local deduction ... (AP - 9 Nov 2017)
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BELOW: The House Committee on Ways and Means Chairman Rep. Kevin Brady, R-Texas, speaks during a meeting on Capitol Hill in Washington, Tuesday, March 28, 2017.

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Old 11-09-2017
# 2   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
The CBO is a leftist, deep state org that is all in for big government. Their assessments are always shady, on the communist side of things.
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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Old 11-09-2017
# 3   Heimdallr is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
Quote: Originally Posted by Fred O'Malley View Post

The CBO is a leftist, deep state org that is all in for big government. Their assessments are always shady, on the communist side of things.

We can always depend on the Republicans to float a tax reduction proposal that significantly lowers incomes taxes for corporations and already wealthy individuals.

I'm all for lower taxation, but believe balancing the budget, then eliminating the deficit, should be the first priority. Fiscal responsibility, I think it's called.
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Old 11-09-2017
# 4   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
When Reagan lowered taxes in the 80s, tax revenue nearly tripled. They know low taxes brings in more money, the left intent on communism, which makes all people captives of the state.

There is far more to tax formulas and deficits than meets the eye. Spending is the big problem. Trump understands the problems better than almost any of them, save Ron Paul. This tax reduction is very advantageous to the people.
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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Old 11-09-2017
# 5   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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Old 11-09-2017
# 6   Heimdallr is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
Quote: Originally Posted by Fred O'Malley View Post

When Reagan lowered taxes in the 80s, tax revenue nearly tripled. They know low taxes brings in more money, the left intent on communism, which makes all people captives of the state.

There is far more to tax formulas and deficits than meets the eye. Spending is the big problem. Trump understands the problems better than almost any of them, save Ron Paul. This tax reduction is very advantageous to the people.

I believe the record shows that Reaganomics increased the deficit. It's a curious thing indeed that the last time the US government's budget was balanced was when George W Bush inherited the surplus from Bill Clinton's presidency. It's never the best option to pay interest on debt if it can be avoided. Those dollars can be used to further prosperity, not line the pockets of jewish bankers.

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Old 11-09-2017
# 7   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
Bill Clinton enjoyed the benefits of Reagan's work and also stole the social security trust fund to make himself look good. Things aren't what they seem. Newt Gingrich forced Clinton to balance the budget.

To be honest, I don't give a shit if the gov has enough money, when they haven't the courage to cut spending. I hope they go belly up.
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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Old 11-09-2017
# 8   Heimdallr is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
Quote: Originally Posted by Fred O'Malley View Post

Bill Clinton enjoyed the benefits of Reagan's work and also stole the social security trust fund to make himself look good. Things aren't what they seem. Newt Gingrich forced Clinton to balance the budget.

Ahem... It was the US Congress during LBJ's administration who stole the Social Security trust fund to finance the "Great Society."

But by all means, if there was a bigger nincompoop as US president than Lyndon Johnson, please tell me who that would be... besides Abraham Lincoln, I mean.

Quote: Originally Posted by Fred O'Malley View Post

To be honest, I don't give a shit if the gov has enough money, when they haven't the courage to cut spending. I hope they go belly up.

Congress will never default on the debt, they'll just keep raising the debt ceiling, and very quietly. It'll be up to the people to convene a constitutional convention if the budget is ever balanced again and the deficit is ever paid down. The balanced budget amendment failed by one vote because the MSM was successful in convincing the voters that Congress would return to responsible spending without it. So much for that fairly tale.
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Old 11-09-2017
# 9   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
Ortiz and Moore: Trump Tax Plan a Win for Small Businesses and Workers
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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Old 11-09-2017
# 10   Fred O'Malley is offline
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects
GOP Should Retroactively Cut Taxes for Fiscal Year 2017
“Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight
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