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Tax Bill’s Cost Could Hit $2.2 Trillion Over Next Decade


#1

Tax Bill’s Cost Could Hit $2.2 Trillion Over Next Decade

Joel Friedman

Every credible analysis shows that the bill won’t come close to paying for itself.

Individuals in Portland, Maine protesting the GOP tax bill. (Photo: Jenna McGuire)

#2

I’d like to rectally reconcile each and every one of these Republican fuckers with the Stars and Stripes mounted to a pole with a razor-sharp eagle finial.


#3

As long as Republicans spend and Democratic administrations cut, we all go to Hades. Federal deficits are not a bad thing. Using the tax code as a weapon of tyranny is. The monetary system can handle the costs of bringing this country out of the poverty, ignorance and poison it swims in. MMT is reality. Neoliberalism and the false god of “balanced budgets” ensure defeat for any so-called resistance. The point is that the system can afford the cuts just as it can afford free child care and college for everyone. But our civilization will end before sanity arrives. 10 to 20 years and the climate holocaust will be here. The earth will balance itself by slashing the human population. Happy Holidays!


#4

The built-in rise in the national debt is a feature not a bug.

It will serve as more evidence that we need to cut the safety net.


#5

Where is Buffett?Where is Gates? Where is the millionaire currently running commercials for impeachment. THIS IS A THEFT OF 2 TRILLION DOLLARS FROM THE COMMON PEOPLE. And yet the donor class of democrats and republicans are SILENT.------These people make profit from the resources and labor of the common people. DON’T BE SLAVES BE OWNERS! SUPPORT THE COMMONS.


#6

Something that has gotten little attention is the ending of the healthcare requirement. People in a low income range get a 500$ tax credit —from what I understand this credit will be gone this year. This is a tax increase on low income people who have followed the law.

And do corporations get tax deductions on their healthcare plans???


#7

What gets less attention is that fewer middle class taxpayers will itemize deductions and will therefore no longer be able to deduct charitable contributions.

Prior to what Democrats continue to call “bipartisan 1986 tax reform” all taxpayers could deduct charitable contributions so the missions of charitable organizations were influenced by a wide cross section of Murkins from low income to ultra wealthy.

1986 tax reform limited that cross section to taxpayers who itemize deductions and business owners, both demographics that lean toward the upper end of the income ladder and influence the missions of charitable organizations away from things that benefit the poor.

The current tax cuts will greatly reduce the number of Murkins who itemize deductions, resulting in an even higher percentage of charitable contributions coming from business owners (read: corporations) that will now have even more influence on the missions of charitable organizations.


#8

$2.2 Trillion? That’s chicken feed. This woman, Catherine Austin Fitts, says we have been robbed of $40 Trillion!:

Catherine Austin Fitts – We Need Our $40 Trillion In Stolen Cash Back


#9

This deficit will trigger automatic cuts of $1.2 trillion in domestic programs. Schools, Social Security, Medicare, Food Stamps, low income housing, jobs training, roads, bridges, railroads, transportation safety, etc. etc. etc. But, not to worry, corporations and their CEO’s will be OK.