Swampy Tax Bill

The Senate GOP tax bill would slash the corporate tax rate to 20 percent starting in 2019. It would also create incentives for multinational companies to bring foreign earnings back to the United States. And it encourages businesses to invest more, allowing them to immediately expense the cost of things such as new equipment and machinery.

The bill would temporarily cut taxes on families and individuals, lowering tax rates and expanding the amount of income that isn't subject to taxation. It would also, temporarily, expand the child tax credit for families earning less than $1 million. But it would also cut back on many tax breaks, prohibiting people from deducting the taxes they pay to states and localities.

Of course this bill would have to be reconciled with the house bill if it passes, and they really want to pass it, so expect some band aids to be applied.

The bill is going to make the deficit worse and if the same group of alligators continue to occupy the swamp they will go after Social Security, Medicaid and other programs while propping up defense contractors and Wall Street.

Its inevitable and since we now live in what I used to think of as a fictional world created in 1984, we have big brother telling us what is real and what is fake, even though the reality is different.

This is the greatest middle class tax cut ever would be sad if true since it hardly touches middle class taxes.

It plays games and seems to lower tax rates and increase the standard deduction but it eliminates the personnel deduction and many other deductions that people use.

I saw an estimate that for people earning less than $100,000, 60% might see a reduction of more than $100.  The other 40% would see less than $100 or an increase.

Its not like if you are in the lucky 60% its going to be thousands, just more than $100.  Maybe $500, but remember it expires so spend it carefully.  Your probably going to have to live with less Social Security or pay higher health care premiums soon enough.

The swamp continues to grow and that sinking sensation you feel is because the quicksand is sucking you down.

The companies can use the extra money to build bigger and better robots to replace you, so kindly step aside and except their word about how great America is for them.

You thought that slogan was about you?  Well PT Barnum is so proud.  This way to the egress.