The Tax Bill

This quoted bit includes notes about the recently approved version.

We see the Dems have negotiated some stuff away like the Johnson modification, which would indeed cost them sorely. In any case it looks like this bill does in fact bring relief for society in general. I think these are generally good changes that will definitely benefit the working class as well as the powerhouses of the economy. But thats my initial impression.

It certainly simplifies taxation structures and this is a good thing. It is bound to remove some possibilities for loopholes. And perhaps Varoufakis’ old argument for lowering of corporate tax holds here then: at this rate, they might actually pay it.

In combination with the simplification of the order it isn’t unthinkable that this will actually reduce the deficit.
Also I like that there are tax breaks for citrus growers. I suspect that more of these special provisions are very human and sensible and good for the country.

Google and other tech stocks dropped on the announcement of the bill passing, whereas real industry stocks went up. That too is a sign that the Bill favours reality and human interests.

even the non partisan CBO believes that this tax bill will blow
up the budget by over 1 TRILLION dollars… it will not increase growth
in any way, shape or form because its only function is to give the wealthy
a huge government giveaway… taking money from working and the working poor
and giving it to the wealthy…OLIGARCHY… government of the rich, for the rich,
by the rich… the other stuff is just window dressing to make it look good…

Kropotkin

You are getting a tax break, you ingrate.

Nice. The bill throws a wrench in Silicon Valleys self-enrichment parasite scheme, by introducing taxes on the widely practiced equity-offering to new employees.

Of course these ultrawealthy tech companies are the main platforms for wholesale treason against the American People.

K: you don’t get it… it doesn’t matter if I get a tax break or not… and trust me, the
tax break will be fairly small, because it wasn’t done for me… it’s window dressing to
hide the fact that the wealthy will get millions and I will get, at best, hundreds…
it is pure redistribution of wealth from the middle class and working poor to the wealthy…
the same thing you decry except when the wealthy gets the money and the middle class
and working poor gets the shaft…

Kropotkin

I have been reading the Bill, Peter, and what you say has nothing to do with what is actually in the Bill. I think you are reading the newspapers instead of the Bill. It is sad to see so many people taking sides against their own interests in favour of multi trillion syndicates of criminals.

By the way here is a “heat map” of the current Stockmarket. You can see the effects of the Bill.

All in all this will boost the entire economy and make sure taxes on corporations can actually be collected.
What the Dems fail to tell you is that no one in that high bracket is actually paying now. So that whole increased deficit and bonus for the rich story you read isn’t based on reality.

Its likely that a lot of Big Corp has been lobbying against it, falsely taking on the mask of the lower classes. This is in general what the Democrats are made of.

Side note - you would like Norway. They not only tax proportionally but also fine proportionally. A very wealthy person got a traffic fine and had to pay some 20 000 dollars, a percentage of her annual income.

The tax bill: The wealthiest taxes are cut or pay little to no taxes. Everybody else sees tax increases.

Dems didn’t negotiate parts of the bill away, none of them were going to vote for it from the start and everybody knew this. They had no say in the bill at all. Unless by “Democrats” you mean Susan Collins and John McCain.

Letting rich people keep a greater percentage of their money and letting the middle class keep a greater percentage of their money does not in any way ‘redistribute wealth from the middle class to the wealthy’.

I like it but unless there is a massive cut in spending to go with it, all we are doing is increasing the national debt and will end up just monetizing that debt which is basically a tax. Basically, you can’t have all these government services without someone paying for them. There is no way around that.

It’s called the Federal Reserve, they’ll add more 1’s and 0’s where voila everything gets paid for with an infinite amount of debt. A debt that poor low income fools will be forced to pay while the rich slip away.

K: now I can’t help it if you aren’t smart enough to see this massive redistribution of wealth,
for what it is… it won’t create jobs, it won’t increase the economy, it won’t help
the middle class in any way, shape or form and it will help turn American into the
the hot mess that is Kansas… and Kansas was destroyed by massive tax cuts
and now its pretty much a hell hole…it will take them years to get Kansas
back to a functional state…

Kropotkin

Actually, Kansas does not have its own reserve currency, or even its own currency at all for that matter, so it isn’t that great of a comparison. Like I said, this will just end up being more monetized debt if they do not cut spending as well. Unless the U.S. loses their reserve status, that still won’t cause economic collapse, but it WILL hurt poor people a lot more than rich people because the poor are the most affected by inflation.

One question I have on this - How does the national debt effect me (the individual)? The national debt has grown my whole life, yet I am profoundly unaware of how the increasing number (supposedly negatively) effects me. The answer to this would go towards taking a comprehensive look at the tax bill.

Because at a certain point the monetary system collapses and everybody loses all their monetary gains or abilities.

I’m so glad corporations are getting the most tax cuts and credits. I’m fully waiting for trickle down all over my face. I think I will try to bring an umbrella just in case.

That’s hilarious. Think about what you said for a bit. I’m sure you have in the past, but obviously it didn’t do you any good.

The so called middle class only “keeps a greater percentage of their money” if you ignore all the social programs that will be affected by reduced funding when these tax cuts inevitably fail to produce enough revenue to fund them. Then they get to spend that money on overpriced garbage internet, awful healthcare, etc.

The rich get to take their tax cuts and dump it back into politics to further secure their oligarch status.

Well for one thing, governments rely on the ability to utilize credit. Taxes are slow, and spending is fast. Unless you want to run a big surplus of cash just sitting in some government bank (super ineffecient), you have to run some kind of debt to spend money freely. On the other hand, interest kills.