If you lined up all the world’s economists end to end you still couldn’t reach a…
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Pressed again, Cohn said: “The wealthy are not getting a tax cut under our plan.”
I forgot to put a stamp on that, when it comes back I'll mail it again. Trust me.
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Hey Cohn, ask the new US World Ambassador of Religious Freedom if his tax cuts in Kansas stimulated economic growth.
Hint: The answer is no! They caused YUGE economic problems. Better try something else. It’s not possible to pray the deficits away.
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It sounds like the only group that wont get much of a break is Lower and Middle class workers. I read where the bottom tax rate would go up 2% from 10 to 12. THe only portion that i see as a reduction for low to low middle income earners is the doubling of the standard deduction. For many middle class earners this wont impact them because they probably had itemized deductions higher than double the standard deduction.
The fact that Cohn cant guarantee says it all.
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Eliminating the exemption for state taxes? That’s about one thing and one thing only: punishing blue states and freeing up more of the income generated in blue states to be siphoned off and redirected to the mooching red states. It’s more geographic culture war nonsense directly connected to the Civil War and the generations that have been raised to continue waging it.
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The stupidity of the question is a perfect match for the stupidity of Cohn and Republicans in general.
Except that Obamacare actually delivered on a lot of promises and could have delivered a lot more if the Republicans had actually been willing to work to improve it rather than spending all their time trying to destroy. Destruction is all Republicans do these days - hampered only by their complete inability to agree on anything.
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Doesn’t he know you are not suppose to give away the game this early
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Nice, one person in the debate understands and tells the truth about economics. The other knows and lies. And what is fucking sad is both know that the rich would probably be almost as rich if they help middle folks.
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Only reason Cohn’s out there is that otherwise everybody would be asking why he isn’t. From here on out it’ll be M’nuthin’ and Yuckabee-Slanders.
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For a family like mine, owning a house in NY state with relatively high property taxes, I will get slaughtered by this bill.
It targets blue states with high state taxes specifically. This is because you would no longer be able to deduct state and local property taxes from your federal income taxes. This would raise my taxes by 5figures I think. Blue states don’t vote GOP so I guess their idea is “screw em.”
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yes, but also blame the media for never showing how this method has NEVER worked to boost the economy. or why we’re planning tax cuts when we are still fighting a forever war in the middle east.
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Taxes aren’t the problem, this is the basic, distract and destroy, type of horseshit that the rich use to keep everyone’s minds off of the reality that we are getting hosed at the paycheck level and that taxes benefit us.
Put it this way, would you rather make $25,000 more a year or pay a little less tax on your not so impressive income?
You have to be able to buy things in order to write them off and not pay taxes on them.
If you can’t afford things, then you get taxed/penalized for not spending.
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Well, in fairness, they’re not siphoning it off for redirection to the mooching red states. They’re siphoning it off for redirection to the members of the 200 richest families in America.
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Because it’s not a tax cut for the wealthy, it’s tax relief! These poor rich people are suffering under the back breaking burden of having to pay [already far less than] their fair share.
The 'pubs are so nostalgic for the 50’s, let’s go back to the Eisenhower tax rates and use that as a starting point.
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Over at WaPo there’s an interesting article by Bruce Bartlett, titled “I helped create the GOP tax myth. Trump is wrong: Tax cuts don’t equal growth.” Bartlett was a domestic policy advisor to St Ronnie.
In it, he concedes that the best growth in recent memory was under Clinton – after he raised taxes.
Worth a read. A bit of a mea culpa.
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This tax plan is a complete mess. Cohn is out of his depth. He got his job because he is good money launderer for the Trump family and condones their neo-nazi bigotry. This sleazy scumbag from Goldman Sachs has no idea of tax policy.
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Well, a 2% increase is one way to look at it. A more appropriate analysis is the lowest tax rate will increase by 20%
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But he can guarantee a tax cut for himself, trump, and the rest of the billionaire cabinet. Amazing.
The US rich enjoy one of the lowest effective tax rates in the world already - it is the reason so many billionaires (like Russian Oligarchs) come to the US and get citizenship. They can hide their money in the US and enjoy a near tax free existence.
US Corporations already enjoy a very low effective (what they actually pay) tax rate. We also know that US Corporations are NOT chartered to create jobs - they are chartered to maximize their profits and the distribution of those profits to shareholders. Tax cuts to corporations always get passed through to shareholders and do NOT create jobs…it is a total lie to suggest tax cuts will create jobs. It never happens!
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The GOP will have to find the three black people on the continent that this plan doesn’t screw over and blanket the airwaves with Uncle Tom commercials featuring their happy, smiling faces.
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