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Tax Cuts 2.0: What’s in the GOP Plan and Why It Matters

Yuval Rosenberg
  • R
    RobertG
    Where is the $4,000-$9,000 per family they repeatedly claimed would be the result of the tax law? They added $2.5 trillion in additional debt and they said it would pay for itself but it hasn’t and the extra $10/check will buy you a coffee. Now the republicans want to make the law permanent even though Wages have actually declined since the bill went into effect and everything costs more now. Where’s the money?
  • M
    MoretotheStory
    Republicans are actively interested in privatizing Social Security. Specifically, one of Trump's "best people," Treasury Secretary Steven Mnuchin, has already admitted that if Republicans could come up with a "reform plan," Trump would support it. A prelude to this already exists in the Republican budget resolution for 2018 which specifically includes a provision for triggering Social Security "reform." Of course, any changes to social security would need to pass both houses of congress which would not be a problem if Republicans who already control both houses of congress remain in control after the midterms. Ironically, 52% of senior citizens age 65 and over voted for Trump and can play a pivotal and enabling role in dismantling our social security programs if they vote to keep Republicans in control of congress in November.
  • M
    MoretotheStory
    Each day now for the next 15 years, 10,000 baby boomers will turn 65 years of age. Meanwhile, medicare and social security trust funds are going broke. Recent and proposed tax cuts will continue to benefit corporations and our wealthiest families resulting in the loss of 1.9 trillion in lost tax revenue between 2018 to 2027. Expect more of the same with planned taxed cuts in the fall. These additional tax cuts are on top of our first projected trillion dollar budget deficit in 2018 and our first two trillion dollar deficit projected in 2019! These budget deficits do not include funding for our new Space Force. Escalated budget deficits combined with escalated revenue shortfalls is a recipe for disaster! Twenty-five states are already projecting revenue shortfalls this year which include Arizona, Florida, Kentucky, Minnesota, and New Jersey!
  • T
    Tuck Frump
    The Republicans can tout and make all of the bogus claims about their Tac Cuts 2.0 all they want to, the Trump/Republican Tax Cuts 1.0 is HIGHLY UNPOPULAR because it favors the wealthy elite and corporations and give a pittance of the Trump/GOP tax cuts to the hard working, tax paying, middle class and working poor and this Republican Tax Cuts 2.0 only further pads the pockets and bank accounts for the wealthy elite and corporations while giving the middle class and working poor another pittance of the amount of their tax cut legislation, which currently is not enough to keep up with inflation. What the Republicans are FAILING to tell the American people, before the midterms, is that they intend to pay for the $2+ TRILLION that this tax law adds to the national debt by making draconian cuts to Social Security, Medicare, and Medicaid, which is even a more UNPOPULAR with the American public than the Trump/GOP tax law.
  • E
    Enim Deus tacitus est
    Just the reactions I get here when I advocate balancing the federal budget shows me why it never gets closed. People just don't care. But they should. If you really want to end trade deficits, end budget deficits, because not borrowing money lets the dollar be cheap for our exporters. But we are just not serious about it and haven't been since the early 60's.
  • D
    Deborah
    There doing this now to gain votes in November. Do you really think that these new cuts will help the middle class, no.
  • S
    Scott
    My accountant says I'll be paying more in taxes next year. Wish I was rich so I'd have more "Freedom of Speech" and get those great tax cuts too.
  • N
    Netminderx
    We are already on target to record deficits and a record national debt. We currently are a high in the disparity between rich and poor. Still the Republicans think the rich need more tax cuts. They think the deficit isnt high enough and the disparity between rich and poor isnt big enough. There are no fiscally responsible Republicans. They will bankrupt our country if we let them.
  • M
    MaryJE
    I don't need my $1.50 a week tax cut, I would rather it fund education, healthcare, or social security.
  • j
    joel
    Deficit up 32% last month. Great work cons.