If we consider the impact of the bill’s mandate repeal, we estimate that those in the top 1 percent would receive tax benefits of $40 billion, even as those in the bottom 99 percent would see losses of $30 billion.
This will be the nail in the coffin for the middle class. And the donor states are the ones getting screwed. And if democrats don’t point this out they are committing malpractice. I watched one dem congressmen from Conn remark that he doesn’t mind being a donor state------Conn. you need to replace this guy. The donor states in part are paying more in local taxes because they get fewer taxes returned from the federal gov.
From what I understand the state where Mick Mulvaney comes from-South Carolina, they get back 2$ for every 1$ they send to Washington. And with this tax bill these numbers will only increase.
Why are states like Calif,Illinois,New York,New Jersey,and yes Maine sending republicans to Washington when they work against the interests of their home states. These issues are very relevant in the small states—whose bringing home the bacon.
People like Kevin McCarthy ® need to be gone in the next election. There is NO reason this guy can’t be defeated.
The headline is a bit misleading. The Bush Tax cuts were by law scheduled to automatically expire December 31, 2010. The Obama administration with the help of a Democratic control House and Senate voted to make the cuts permanent prior to the 2010 Holiday recess. Technically, that makes those tax cuts, the Obama Tax cuts.
That is not quite accurate either: