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TomCADem

(17,393 posts)
Sat Nov 18, 2017, 09:04 PM Nov 2017

Ultra-Rich Win Big Under GOP Tax Bill; Taxes Rise For Everyone Else

Source: Talking Points Memo

WASHINGTON (AP) — The ultra-wealthy, especially those with dynastic businesses — like President Donald Trump and his family — do very well under a major Republican tax bill moving in the Senate, as they do under legislation passed this week by the House.

Want to toast the anticipated tax win with champagne or a beer — or maybe you’re feeling Shakespearean and prefer to quaff mead from a pewter mug? That would cheer producers of beer, wine, liquor — and mead, the ancient beverage fermented from honey. Tax rates on their sales would be reduced under the Senate bill.

On the other hand, people living in high-tax states, who deduct their local property, income and sales taxes from what they owe Uncle Sam, could lose out from the complete or partial repeal of the deductions. And an estimated 13 million Americans could lose health insurance coverage over 10 years under the Senate bill.

* * *
LOSERS

— An estimated 13 million Americans could lose health insurance coverage under the Senate bill, which would repeal the “Obamacare” requirement that everyone in the U.S. have health insurance. The projection comes from the nonpartisan Congressional Budget Office. Eliminating the fines is expected to mean fewer people would obtain federally subsidized health policies.

Read more: http://talkingpointsmemo.com/news/senate-gop-tax-bill-cuts-winners-losers-wealthy-health-insurance-loss

11 replies = new reply since forum marked as read
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Ultra-Rich Win Big Under GOP Tax Bill; Taxes Rise For Everyone Else (Original Post) TomCADem Nov 2017 OP
Nov 27 Day of Action DUers please get active NOW!!! BigmanPigman Nov 2017 #1
Other losers: people with student loans, marybourg Nov 2017 #2
Kick dalton99a Nov 2017 #3
Time to go in some right wing senators offices again and protest turbinetree Nov 2017 #4
kick Jim Dandy Nov 2017 #5
Jet fuel is expensive. Private pilot rates are outrageous. We private jet owners need tax breaks! Fred Sanders Nov 2017 #6
That's the Republican Way. Dawson Leery Nov 2017 #7
Well, they DO cut those big checks.... SergeStorms Nov 2017 #8
Wasn't "transfer of wealth" the GOP phrase for Obama's "supposed" policies at one point? Beartracks Nov 2017 #9
The irony here being BumRushDaShow Nov 2017 #10
Corporate M$M will be a big winner so M$M is pandering sex innuendo & playing down tax bill details. FreeStateDemocrat Nov 2017 #11

BigmanPigman

(51,816 posts)
1. Nov 27 Day of Action DUers please get active NOW!!!
Sat Nov 18, 2017, 09:11 PM
Nov 2017

WE must do it to save us from the GOP agenda. Please go to the link and pass it on. We have to DELAY the Senate vote. Get up and do something instead of complaining. You can do something/anything. It is up to you and me. We are in this together with Bernie, MoveOn, Indivisible, etc. THANK YOU!!!!
https://www.trumptaxscam.org/

marybourg

(12,694 posts)
2. Other losers: people with student loans,
Sat Nov 18, 2017, 09:37 PM
Nov 2017

graduate students. elderly in long term care, people with disabled children not on Medicaid. people needing to sell their houses after less than 5 years, etc., etc., Looking for a link showing this (I saw some of this on CNN this morning, and heard some on NPR), but can't find an easily accessible one that calls out these individual changes; just broad generalizations in print media. Looks like the media are not doing a bang-up job on this.

turbinetree

(24,790 posts)
4. Time to go in some right wing senators offices again and protest
Sat Nov 18, 2017, 10:06 PM
Nov 2017

these assholes want our medicare and social security to be used as "OFF SETS" to pay for this BS, not happening

https://www.cbpp.org/research/federal-budget/policy-basics-the-pay-as-you-go-budget-rule

Policy Basics: The “Pay-As-You-Go” Budget Rule
The pay-as-you-go rule, also known as PAYGO, is designed to encourage Congress to offset the cost of any legislation that increases spending on entitlement programs or reduces revenues so it doesn’t expand the deficit. Under PAYGO, Congress must pay for such legislation by reducing other entitlement spending or increasing other revenues.



Fred Sanders

(23,946 posts)
6. Jet fuel is expensive. Private pilot rates are outrageous. We private jet owners need tax breaks!
Sat Nov 18, 2017, 11:19 PM
Nov 2017

Make the poor pay!

SergeStorms

(19,217 posts)
8. Well, they DO cut those big checks....
Sun Nov 19, 2017, 02:40 AM
Nov 2017

to buy the legislator and the legislation they desire. They've said if the don't get their quid pro quo those checks are going to stop. Guess who's waiting in the wings to claim those big checks? Steve Bannon, and his tea bagging, ultra-right-wing candidates who want a fascist America more than they want their next breath of air. Frankly, I don't see Bannon being able to deliver on his turning the country even further to the right. I don't think Americans want that, or the rhetoric and divisiveness that comes along with it. They got a taste of that with Trump, and it's made the vast majority of Americans nauseous. Let these BIG Republican donors waste their money on Bannon and his ilk. Fools and their money.......

Beartracks

(12,897 posts)
9. Wasn't "transfer of wealth" the GOP phrase for Obama's "supposed" policies at one point?
Sun Nov 19, 2017, 03:02 AM
Nov 2017

When Republicans accuse and criticize, they are simply confessing their own schemes and secrets.

================

BumRushDaShow

(131,815 posts)
10. The irony here being
Sun Nov 19, 2017, 07:39 AM
Nov 2017

that the Drumpf's ARE from a "high tax state" and city (NY & NYC), but since they lie and launder and hide, they have ways to get around it.

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