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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGOP Lawmakers Not Happy with Trump Tax Plan
April 25, 2017 By Taegan Goddard
Playbook: The White House yesterday sent out the message that they planned to cut the corporate tax rate to 15 percent fulfilling a campaign-season promise. Is this an opening negotiating position or what Trump wants to achieve? We dont know, because we havent seen him in a successful legislative negotiation yet.
But privately, Capitol Hill Republicans are seething. Why? Because a 15 percent corporate rate is practically impossible to achieve without blowing a hole in the budget. The president might be willing to balloon the national deficit, but Hill Republicans which have made debts and deficits their central issue over the last decade are not. To make a cut like that permanent, Republicans would need Democratic votes in the Senate, because it would run afoul of reconciliation rules. Speaker Paul Ryan and House Republicans raise $1 trillion in new cash with the border-adjustment tax, and they can only get the corporate rate down to 20 percent. Trump is signaling he has no interest in the so-called BAT.
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https://politicalwire.com/2017/04/25/gop-lawmakers-not-happy-trump-tax-plan/
underpants
(182,904 posts)All their rhetoric all these years and they knew it was bullshit.
PJMcK
(22,052 posts)Here's just one example: since it was first proposed, Republicans have opposed the Affordable Care Act. When it passed, they challenged it all the way to the Supreme Court and lost. For seven-plus years, they've made repealing the ACA a cornerstone of their campaign and political rhetoric.
Now that they control all three Branches of our government, they don't have any idea how to repeal and/or replace the ACA. What have they been thinking about all these years? Where are the great ideas that the House's resident "genius," Paul Ryan, has come up with?
I believe that today's Republicans don't have any core beliefs except greed and a desire to hurt people.
vlyons
(10,252 posts)I love it when he comes up with these ridiculous legislative proposals that have zero chance of going anywhere. Then he gets on TV and pretends to be a president and great leader and talks about how wonderful his proposal is. The best ever. Have you noticed that he lowers his voice to his best baritone and speaks in a slow cadence, as tho' every word was ever so important.
At least that's when I even bother to listen to his garbage. Usually I change the channel, because he really has nothing worthwhile to say, and he's predictably boring. But I take pleasure in knowing that he's too stupid to realize that his pronouncments just set himself up for failure and ridicule.
So be my guest. Indulge yourself in ridiculing him.
Wellstone ruled
(34,661 posts)play the Public when it comes to the people's business. In the last two weeks,we have been buried with all these bullshit messages about Middle Class Tax Cuts and yesterday it was cut Corporate Tax rate to 15%. Well my friends,Corporate America will get a massive Tax break,and the offset will be on everyone who makes 150k and under. With the lower 40% of the Income Base being hit the hardest. Watch for many of the Tax Deductions to go bye bye,like Mortgage Interest,Earned Income Credits,Continuing Education Credits,and the Income Schedule will be changed to increase the Taxable Percentage of AGI.
Expect a 1 Trillion dollars or more to be Transfer via these new Tax changes.
pansypoo53219
(20,997 posts)Wounded Bear
(58,721 posts)and their Trickle Down Bullshit? Call it anything you like, but it always looks like the old time Reaganomics religion when Repubs start talking tax law.
Obviously, Trump doesn't know WTF he's doing. He also has no clue that we've all seen this show before and the outcome is always the same. The deficits swell and the debt increases, and Trump and his rich cronies dance away laughing all the way to the bank. Perhaps Repubs in Congress are starting to realize they can't get away with it forever. We'll see.