General Discussion
In reply to the discussion: You know what, f*ck Capitalism... [View all]still_one
(92,187 posts)those who are upset because they see they are paying more taxes, that is on the republicans.
The ones who will feel the impact the worst are those that itemized deductions, live in states that have high property tax and SIT, and find CAPS on those deductions, which not only makes it unfeasible for them to itemize deductions under the new tax law, but the elimination of the personal exemption also adds insult to injury.
It will also negatively impact those that may not have realized that their withholding amount was decreased from their paychecks giving the illusion of an immediate "tax benefit", a dumb-assed move from the Trump administration, and have left a lot of people with a large tax bill. The elimination of the personal exemption, which affects those who itemize and those who do not itemize, not only decreases any benefit from the suppossed tax break, but also makes that withholding amount even more critical to avoid underpayment of taxes.
The greatest benefits go to corporations, and based on Reagan's trickle down economics which has been demonstrated time and again to be a complete failure. The resulting deficit, already a problem, is made so much worse with this tax bill, that will create battles in protecting programs that many people depend on.
Unfortunately, there were those self-identified progressives who refused to vote for the Democratic nominee in 2016, and contributed to not only putting Trump in the WH, but giving republicans control of the Senate.
In those critical swing states the Democratic nominee lost by less than 1%. In everyone of the critical swing states, Jill Stein received 1% of the vote, thank to folks like Cornel West and Susan Sarandon. It didn't take much for that to happen either.
To make matters worse, every Democrat running for Senate in those critical swing states lost to the incumbent, establishment, republican, and those Democrats were progressive by any measure.
2000 should have been a lesson learned, but it wasn't, and we are paying the consequences of that foolishness, that elections have consequences. Hopefully, those that were duped into believing the garbage that there was no difference between republicans and Democrats have learned a valuable lesson.