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GOP Tax Reform


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#1 Atossa

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Posted 06 August 2017 - 06:22 PM




Just now FOX interviewed a Republican who said tax reform will not be as difficult or as personally volatile as health care reform. I think he is going to be surprised how personal and volatile tax reform can be. Already there are many special interest lobbyists trying to put their fingers in the tax reform pie. Unfortunately other Americans have no lobbyists to be their voice and protect their interests. And when the news media also ignores them, they might not be aware themselves that their interests are in danger.

The GOP tax reform plan is being ironed out behind closed doors. But the GOP tax reform plan presented last year called - "Blueprint - A Better Way" - ELIMINATES the EXTRA standard deduction for people who are over 65 and/or blind... and INCREASES tax rates for the POOREST taxpayers from 10% to 12%.

This year [2017], the standard deduction for a single person over 65 [which includes the EXTRA $1550 over 65 deduction] is $7900. Combined with the current single exemption of $4050, the total protected from taxes is $11,950... and that amount would probably increase next year due to the annual increase for inflation.

The current stated GOP tax plan calls for a $12,000 deduction but ELIMINATES the current $4050 per person exemption and the extra over 65 standard deduction. That along with the INCREASE in tax rates for the poorest Americans from 10% to 12%, will throw poor, elderly and blind people under the bus. This is NOT what Trump originally proposed. Trump originally promised all single people a $25,000 deduction and a 10% tax rate up to $50,000.

I certainly hope it was not Trump's intention to bait and switch. But that is exactly what he has done. If the GOP follows their blueprint plan, there will be a lot of irate people... including Democrats and Independents who voted for Trump and life-long Republican voters... turning against them in the 2018 election.

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Edited by Atossa, 06 August 2017 - 06:24 PM.

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#2 Atossa

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Posted 12 August 2017 - 06:39 AM



The devil is in the details !!


In push for tax reform, wealthy conservative groups hope to avoid health debates mistakes. They may be repeating them.

August 11

" A coalition of some of the wealthiest forces in conservative politics is kicking off a major TV and ground campaign this month to drive momentum for a historic tax overhaul. The issue is now the GOP's top legislative priority this fall, following the failure to enact an overhaul of the nation's health-care laws.

The organizations behind the multimillion-dollar effort are hoping to avoid that fate by building early support for sweeping legislation, which they call tax reform, with a messaging campaign that promises to cut taxes for working - and middle-class Americans.

By another measure, however, these advocates may be repeating the mistake of health care, some GOP strategists say. Seven years ago, Republicans began rallying support and winning elections with a promise to repeal and replace the Affordable Care Act. But with no specific proposal to do so, they struggled this year to persuade Americans to support the effort.

Similarly, with retooling taxes, these interest groups are trying to sell "lower tax rates" to a wide swath of Americans without spelling out what taxes would be cut or for whom and they are doing so long before Republicans are scheduled to begin forging a detailed proposal. "


more at link

https://www.washingt...e1cc_story.html

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Edited by Atossa, 12 August 2017 - 06:45 AM.

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#3 Atossa

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Posted 12 August 2017 - 06:50 AM




The GOP attacked Democrats and specifically Pelosi for advocating the passage of Obamacare
before congressmen could fully read and understand the bill they were voting on. And this is
exactly what the GOP is trying to do with tax reform.

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