Out of committee and onto the senate floor, the new senate tax plan is a disgusting piece of filth.
The total sellout senate released a proposal that only benifits large businesses. Small companies would pay 25% tax, not the 20% of large companies.
The tax “cuts” would be just temporary. And they would keep all seven tax brackets.
In short it’s a screw job for the middle class. yes, the standard deduction would double, but deductions would be removed.
They gave 23 TRILLION DOLLARS to FATCAT BILLIONAIRE BANKERS, but can’t do anything for the middle class because “deficit”
this is atrocious.
They are keeping the 20% rate for rich hedge fund managers.
But there’s not enough money for people with small business S-corps to get a 20% rate, no they have to pay 25%. Yet, this week they pass a 700B defense bill, no worries about finding money for the military. yep. They get tons of money.
The senate bill is outrageous for making the middle class rate temporary. Just outrageous.
A modest proposal – why don’t we start taking the fatcat hedge fund managers and bankers who got 23 TRILLION dollars in bailout. And lay off the middle class.
Meanwhile, New Yorkers are hopping mad that their state taxes won’t be deductible. The big social welfare states have to have high state taxes to cover their sanctuary city illegal alien welfare programs. Well boo hoo.
What NEEDS to happen:
1) A 20% rate for small business corporations, the same as for big business
2) A REAL tax rate cut to 20% (NOT 25%) for the middle class. That means an actual tax rate of 37%. That’s quite enough!
3) Taxes on financial transactions to offset the costs and put the burden onto wall street. They had their gravy, time to give back