If passed and signed, the Republican tax plan will reduce most citizens taxes — except for some rich Democrats who bought loopholes from Congress.

The luckiest citizens will be the unemployed getting off government handout programs. If the tax cuts are successful, many unemployed will get jobs and become taxpayers. With a welcome tax increase they may benefit more than all other taxpayers.

Unfortunately, some will resist employment to avoid paying taxes. If that happens Congress should encourage them to accept jobs by tightening welfare eligibility. No "able bodied" citizen is entitled to live on another worker's labor or taxes.

Gary Miller

Texas City

Locations

(15) comments

Gary Miller

Tax Loopholes are bought by lobbyists for both Republicans and Democrats. The loopholes I mentioned are tax deductions for local and state income taxes. Corrupt loopholes designed to let Democrat politicians raise local income taxes and convert federal taxes to local spending. Big city liberals using federal tax deductions to buy votes.

Jim Forsythe

Gary, the deducting  state and local taxes is not new.
"Taxpayers who itemize their taxes can deduct state and local property and real estate taxes, and either state and local income or sales taxes. The ability to deduct nearly all state and local taxes was part of the federal income tax code when it was created in 1913. Some restrictions were put in place over the years, such as allowing either income or sales tax deductions, but not both. See the IRS guidelines on the deductions for more information."

This  looks like will happen, in the Republican led tax law reform. If the deduction was that bad, they would remove it  
"The Senate’s bill keeps the mortgage interest deduction for homes up to $1 million but has the same SALT provisions as the House bill, repealing the income tax deduction and capping the property deduction at $10,000."


Gary Miller

Jim is correct. The mortgage interest and property tax deductions will not be affected. Only the state or local income tax is to be repealed. Texas doesn't have any income tax.

Gary Miller

Jim. It looks like you are correct. It is only the state or local income tax deduction that will be repealed. Mortgage interest deductions might be limited for extra high levels by the Senate version but not expected to survive conference.

Daniel Hochman

Gary Miller, I usually avoid commenting on these posts because they are so useless, however, I can not sit idly by and allow such nonsense to be published. There is not one single shred of truth in what you wrote. NOT ONE. My guess is you have not read any of the released portions of the bill and have no earthly idea what it contains. You simply regurgitate crap you hear on Fox News. In fact, what you wrote doesn't even make sense. The GOP would never write a bill that benefits democrats. It does benefit the rich, you are correct on that one. Unfortunately, it has been proven time and time and time again that trickle down economics is voodoo and it does not and never will work.
P.S. There is nothing in the tax bill about welfare. It has nothing to do with that system. Additionally, if you are so opposed to welfare maybe you should take a look at the corporate subsidy rate, also known as corporate welfare, paid for with your tax dollars. The amount we pay to corporations make social welfare look like mere child's play. Who pays for the literally $1 trillion dollar cost of the tax plan? You do! Reductions in your hard earned Social Security and Medicare are slated to pay for the deficit created by the bill. They tried it in Kansas and it failed miserably, why would it work on the national level?


https://www.politico.com/story/2017/12/06/tax-plan-glitches-mistakes-republicans-208049

This is a good one with the good and the bad presented:

https://www.nytimes.com/2017/12/06/opinion/republican-tax-plan.html

https://www.wsj.com/livecoverage/tax-bill-2017

http://www.taxpolicycenter.org/publications/analysis-house-gop-tax-plan/full


http://fortune.com/2017/12/06/gop-tax-plan-trump-approval-ratings-poll/

"...eliminate deductions for interest on student loans for state and local income taxes, and both plans cap the property tax deduction at $10,000."

"... studies show the wealthy would be the biggest winners..."


Gary Miller

Daniel. You don't read very good. I said Rich Democrats who bought the local income tax deduction are going to lose it. I also said only if welfare clients refused to accept jobs congress should tighten requirement.

Daniel Hochman

Gary, first of all it is "don't read very well." Second, I read it just fine, however most of what you wrote makes no sense whatsoever. New jobs will not be created by this tax bill. Again, trickle-down economics do not and have never worked.

Gary Miller

Sorry Dannyboy. Trickle down worked for Kennedy, Reagan and Bush until increased spending overcame it.

Claudia Burnam

You're rude. Mr. Miller can say and write however he wants. Or is it just liberals that have that freedom?

Daniel Hochman

Gary, no it did not. You are utterly incorrect. Ask any economist... Look at any study... Regan... You must be kidding.

Carlos Ponce

Economists who say Reagan tax cuts increased revenues have data to support that claim.
http://www.heritage.org/sites/default/files/~/media/images/reports/b_1544_chart_1lg_4/taxcuts2002.jpg
"In conclusion, as JFK, Reagan, and George W. Bush understood, reducing taxes has a stimulative effect on economic activity which leads to an increase in government receipts. You can't argue with history!"
https://www.forbes.com/sites/mikepatton/2012/10/15/do-tax-cuts-increase-government-revenue/#3cb3223b4bf2
"The Reagan tax cuts, like similar measures enacted in the 1920s and 1960s, showed that reducing excessive tax rates stimulates growth, reduces tax avoidance, and can increase the amount and share of tax payments generated by the rich."
http://crab.rutgers.edu/~mchugh/taxes/The%20Reagan%20Tax%20Cuts%20Lessons%20for%20Tax%20Reform.htm

Dwight Burns

Gary,
You are entitled to your own opinion, however, you are not entitled to your own, made up, so called facts.

Daniel Hochman

Claudia... How is correcting someone's poor grammar rude? What does being liberal or conservative have to do with using correct english when posting opinions in a public forum?

Dwight Burns

Amen!

Daniel Hochman

https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572

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