GOP to double deduction and cutting rates

by
September 27, 2017

Paul-RyanCongressional Republicans unveiled a sweeping tax plan Wednesday that would simplify the tax system, cut rates and nearly double the standard deduction used by most Americans.

“After a decade of lost growth, hardworking American families know the status quo is unacceptable,” Senate Majority Leader Mitch McConnell, R-Ky., said in a statement. “They want to keep more of their hard earned money so they can make ends meet, provide for their children, and save for retirement.”

Republicans released a framework of the plan that was hammered out by House and Senate lawmakers in coordination with the Trump administration. President Trump plans to give a speech on the plan in Indianapolis Wednesday afternoon.

The stakes are high, after Republicans a day earlier scrapped their latest effort to repeal and replace ObamaCare. Now, the legislative focus will shift to tax reform, which Trump has been eager to tackle since taking office.

23 Comments - what are your thoughts?

  • Kanawah says:

    For the lower and middle class, it is a joke. For the rich it is a windfall. This POS must be stopped.

  • Wayne Thorson says:

    I thought it was only us little people that paid taxes.

  • Mary Eleanor Urso says:

    I’d like to see the elimination of Federal income taxes and the IRS and a simple national sales tax. That way everyone has skin in the game and you eliminate “credits” for those who paid no taxes. I always thought that was insane! Math is math. You can’t get a credit when you start at $0.00. Anyway, the tax rate should be tied to the GDP. If the GDP goes up, so do taxes, but when the GDP goes down, so do taxes. The Federal government needs to learn that it’s out money being given to them, not the other way around and they MUST learn to budget. Call me crazy!

    1. Mary Eleanor Urso says:

      Forgot… the death tax must go also.

      1. MaryMThompson says:


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      2. JaneGLinton says:


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      3. Kanawah says:

        Unless you are filthy rich, there is no inheritance tax. The present inheritance tax should be expanded down to $2million.
        There should be an exemption for actual working family businesses, but not for “incorporated persons”.

    2. Kanawah says:

      Your idea would be a total disaster. Sales tax ate totally regressive, and mostly hit the lower and middle class earners.
      If you do not save at least half of your income, you get screwed.

  • bobnstuff says:

    The tax code needs overhauled, there is little doubt about it but that doesn’t mean we need to give it away to the rich. Lower corporate taxes but remove the deductions. Have all corporations pay 20%. Reduce capital gains taxes but start paying taxes at dollar one for everyone. Make it simple but make it fair. If you want to increase business expansion make it more profitable for companies to reinvest then buy stocks back or pay out bonuses. Really fix the tax code don’t just change it to give the rich more money.

  • Jmanjo says:

    What we really want is to stop paying for the liberal freeloaders and the Dems that are stealing our tax dollars for themselves!

    1. bobnstuff says:

      How about all those big companies that get welfare, maybe we could stop paying them billions. Corporate welfare is twice what welfare to needy people get. I know you hate to feed children or the elderly. Those mentally ill people should buck up and get jobs. How about those disable vets. We should give that money to EXXON, they need it more.

    2. Kanawah says:

      The “liberal freeloaders” you refer to are mostly republicans in red states. They are the ones who put the republithugs in office. If they are cut off, the reublthugs are out in short order.

  • Patriot41 says:

    One can remember republicans promising true tax reform for over fifty years now and even when they are in the majority, it never happens! The primary reason they have not done away with the ACA law a.k.a. Obamacare, is that they are raking in more taxes from that program then any other government program.

    Were the president and members of Congress to get serious about all of the government excessive spending that is not being accounted for, they could cut taxes to within a ten percent range at federal and state levels. Will that ever happen? Don’t hold your breath waiting!

  • Frank Davis says:

    This is more Inside the Evil Beltway “rearranging the deck chairs on the Titanic” Kabuki theater!

    If these folks were serious about Fundamental Tax Reform, they would pass H.R. 25/S.18, The Fairtax act of 2017.

    I’m not going to try to sell it to you here – please go to https://www.fairtax.org to get more information and to find out how you can help us replace the Marxist inspired progressive income tax with a National Retail Sales Tax and ABOLISH the IRS!

    We will never be a FRee people so long as we have an income tax and an IRS!

    1. Kanawah says:

      The “fair tax act” is the most UNfair proposal put forth yet. Put it in the trash where it belongs.

  • DrBillLemoine says:

    This is a hoot from McConnell, the non-leader and liar–taxpayers “keep more of their hard earned money”. Actually loss of homeowners Schedule A deductions is not offset by doubling the standard deduction when the 10% bracket is unchanged. It’s another Republican scam. Fat cats earning millions get big tax cuts in the rate and don’t need it; workers and small business owners get peanuts by contrast. Giving more money to big corporations and rich people does NOT lead to more jobs and investments in businesses as commonly thought by propagandists and base voters. It all sounds nice, but actually raises taxes for the very large middle class. The top 1% get another break with dropping the estate tax called the death tax. Vast wealth and real estate can be passed tax free to heirs under the so-called tax reform. It’s been tried before and doesn’t help wage earners and sole proprietors. The thing is designed by the rich for the rich, not average working stiffs who are being sold a bill of goods, another lie. Wake up Trump supporters. Tax reform without regular order hearings, input from tax professionals (let alone the IRS), public debate and comparison of existing vs. proposed brackets and deductions retained is simply a ‘scam’. Let’s watch the ‘professional political leaders on the right’ bob and weave, dodge and duck reality explaining this new boondoggle. Remember Trumpcare was also designed by leadership and crafted in back rooms outside of Sen. John McCain’s regular order–the light of day.

    1. chw2000 says:

      You are such an ass hole. You think you know everything about everything. You need to stick with you propagandaizing of poor helpless students. The only thing you know is having a life of taking from the public. You’re entire being is dependent on TAX PAYER dollars. You don’t know a damn thing about corporations or small business. You’re a taker. Just another liberal parasite. That’s all you’ve ever been and will ever be. Go away ass hole.

      1. DrBillLemoine says:

        You simply haven’t read my posts over time. I have feet in public and private enterprise. Both parties have asked for my help in policymaking/setting. Say those negative adjectives when you look in the mirror. When ignorant people have nothing to say on the issues as I have, they attack the messenger like you have here. Let’s see your concise progressive policy suggestions and readers can compare. You show nothing in your latest post suggesting to readers you know nothing, but project that onto me. Nobody’s fooled by you.

        1. chw2000 says:

          As I stated, you live on TAX dollars. Just because some elected official says: “what do you think about this” does not mean yuo’ve been asked for advice in policy making/setting. How many TAX dollars have you siphoned off in your life time. As a teacher, every dollar you’ve recieved is from the TAX PAYER. As previously stated, you know nothing about corporations or small business. Go away ass hole.

          1. DrBillLemoine says:

            Hear ye, hear ye, hear ye. chw2000, anonymous poster is a Russian bot, and possible cyberstalker. Soon you will be exposed as a public media abuser. You still have nothing to say on the issues and can’t write in English, with proper spelling or punctuation. Get lost phony.

          2. chw2000 says:

            You’re the phony. A self proclaimed expert in all areas of society. You’re a total ass hole. Russian bot, Fuck you. I was born in this country, have served this country, am an elected official and am certainly not a Russian bot. You, on the other hand are a total waste of oxygen. Go fuck up some more “open minded” teenagers. You’re the communist here, not me. And once again, fuck you!

  • Humble Servant says:

    If this is to be a simpler system there is only two systems for doing this. 1) Make it a flat tax. or 2) Make it a GST type of tax on everything purchased. Either of these taxes could dropped for food and clothing if one wanted to protect the poor and provide a means for families to survive easier. This would mean we no longer need a tax man to file paperwork. Our employers will be able to TAKE the right amount every week and the government would no longer need to provide tax returns. Everyone would now pay their fare share of the countries tax debt and savings would not be taxed. If this is not a win-win situation I don’t know what would be.

  • Retired says:

    This sure does not sound like making it simpler to file Taxes and the ones taking it in the Shorts will be the elderly that have paid off their homes ..No raises and more taxes ..

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