Current GOP Tax Plan

[Benton]

(12-04-2017, 04:12 PM)NATI BENGALS Wrote: I dont get why we cant put some type of wording in there to help the working class.

Ok they want to cut the corporate tax rate. Even though they are sitting on a record surplus.

What is it like 35% they are cutting to 20%? Why not cut it to 30% so you still make your big money donors happy. Then say the additional 10% reduction can be earned on a sliding scale equivalent to year to year pay role increases for non-executives. Pay your workers 10% more and you can reduce your tax burden another 10%. Be greedy lay off your tenured employees and slash your pay role to pay shareholders and executives you dont get the full tax savings.

Rubio and Lee tried something along those lines with the child tax credit. If I understand it right, the new bill increases the amount people receive for child credit, but raises the floor so that if you don't have much income, you don't get much credit. Their amendment would've raised the proposed corporate tax from 20% to 22%, and increased the floor on the child credit to include some people with little or no income. 

And Corker suggested tax increases that would kick in if the economy doesn't do the magic upswing Republicans are hoping for.

I don't think most people would have a problem with cutting taxes to the upper class if there's any improvement on everyone else. But it's like the Carrier deal. Giving companies tax money or taxing them less than small business only to have them reap the profit is not growing the economy and leaves a bad taste in everyone's mouth.