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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhile we're all watching Sessions lie, GOP is f*cking us up the a$$ w/ "tax reform"
Senate votes THIS WEEK.
Have you called your Senator and Rep today and EVERY DAY asking them to vote NO?
202-224-3121
GOP Tax and Budget Plans Will Destroy Finances of Average Americans With Sick Elders or Family Members With Disabilities
The House and Senate Republican tax bills continue the GOPs war on financially vulnerable Americans, underscoring yet again that the GOP will stop at nothing to take away benefits from any person, in any state, who might vote blue.
Both chambers slightly differing proposals eliminate the current federal income tax deduction for state and local taxes, hitting hard at blue high-tax states such as New York, New Jersey, Illinois and California, and amounting to a big transfer of wealth to lower-tax red-state America. In addition, the mean-spirited and brazenly partisan fine print would deny deductions for fire and earthquake victims (California), but keep them for hurricane losses (Florida and Texas).
But most of all, the poster child for the GOPs latest version of Ive got mine, go get yours public policy is the House bills proposal to end a federal income tax deduction for medical expenses if those costs exceed 10 percent of one's adjusted gross income. Should that measure, or some version of it, emerge in the final billsuch as imposing a cap limiting deductionsit would be devastating to households with disabled family members or those who incur high medical costs, such as seniors or children.
By taking away medical deductions from personal income taxes, the Republican proposal would hurt older citizens with greater medical needs, people with disabilities and chronic medical conditions, and families with children who have congenital or genetic disorders and disabilities, said a fact sheet from Sen. Bob Casey, D-PA, the top Democrat on the Senate Special Committee on Aging. Almost 8.8 million households claimed the medical deduction in 2015. The average deduction claimed was close to $10,000 and the cost of deducting long-term care could be ten times that amount.
Both chambers slightly differing proposals eliminate the current federal income tax deduction for state and local taxes, hitting hard at blue high-tax states such as New York, New Jersey, Illinois and California, and amounting to a big transfer of wealth to lower-tax red-state America. In addition, the mean-spirited and brazenly partisan fine print would deny deductions for fire and earthquake victims (California), but keep them for hurricane losses (Florida and Texas).
But most of all, the poster child for the GOPs latest version of Ive got mine, go get yours public policy is the House bills proposal to end a federal income tax deduction for medical expenses if those costs exceed 10 percent of one's adjusted gross income. Should that measure, or some version of it, emerge in the final billsuch as imposing a cap limiting deductionsit would be devastating to households with disabled family members or those who incur high medical costs, such as seniors or children.
By taking away medical deductions from personal income taxes, the Republican proposal would hurt older citizens with greater medical needs, people with disabilities and chronic medical conditions, and families with children who have congenital or genetic disorders and disabilities, said a fact sheet from Sen. Bob Casey, D-PA, the top Democrat on the Senate Special Committee on Aging. Almost 8.8 million households claimed the medical deduction in 2015. The average deduction claimed was close to $10,000 and the cost of deducting long-term care could be ten times that amount.
https://www.alternet.org/economy/op-tax-and-budget-plans-will-destroy-finances-average-americans-whose-families-have-sick-or
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While we're all watching Sessions lie, GOP is f*cking us up the a$$ w/ "tax reform" (Original Post)
CousinIT
Nov 2017
OP
Theyre jamming thru on reconciliation what can be done ... you can try calling
Fullduplexxx
Nov 2017
#4
DISTRACTION!!! Working class will be badly harmed by the tax bill with cuts coming to Medicare, etc.
FreeStateDemocrat
Nov 2017
#7
AZ8theist
(5,488 posts)1. so what...
We gotta give our donors MORE MONEY!!!!!
Alice11111
(5,730 posts)2. Absolutely! Not just as individuals, but with a $1.5 trillion
debt for our grandchildren, while they get rid of the relatively small estate tax for their hiers.
spanone
(135,862 posts)3. K&R...
Fullduplexxx
(7,868 posts)4. Theyre jamming thru on reconciliation what can be done ... you can try calling
Vulnerable con senators. But other than that..... ?
demmiblue
(36,875 posts)5. Oh please, alerter.
LiberalLoner
(9,762 posts)6. They are trying to thin down the herd, big time.
FreeStateDemocrat
(2,654 posts)7. DISTRACTION!!! Working class will be badly harmed by the tax bill with cuts coming to Medicare, etc.