CNN Breaking News - GOP tax plan details

[highplainsdem]

Corporate tax rate slashed tos 20%, permanent cut.

Will leave 39.6% top rate.

Will leave property tax deduction for state taxes up to $10,000. NO deductions left for other state/local taxes.

Will reduce mortgage interest deduction (on new mortgages up to $500,000, preserves deduction on existing mortgages), student loan deductions.

[superpatriotman]

1. Crickets

The un-servatives hate America and they hate Americans.

They love money. They worship money.

They think we are naive and distracted.

Maybe we are.

[highplainsdem]

2. CNN saying House leaders still not certain they'll have enough votes if they scrap those state/local

income tax deductions. They've decided to try to hammer out some sort of agreement later.

[C_U_L8R]

3. That's a real economy killer

Republicans are total fucking morons.

[Johonny]

4. If the Dems can win in 2018 running against this plan

then the party is * because this is a terrible tax plan.

[dsc]

13. should be can't

[madaboutharry]

5. It's a tax cut for corporations.

This seems to be another republican hoax.

[highplainsdem]

6. That was obviously their main goal.

[Achilleaze]

14. Who will pick up the slack? republicans dumping it on Americans

Screw the grifter republican fat cats and their twisted Trickle Down bullshit.

[OliverQ]

7. I admit I know nothing about economics/taxes.

What are the odds of this passing? Is it likely to go the way of healthcare, or since it's not as personal to people, there will be less push back over these horrible tax cuts for the rich?

[Adrahil]

9. no way it passes in this form, I think, at least not the Senate.

Lots of places, the houses cost more than $500,000 on average.

And eliminating deductions for State and Local taxes, is another serious no-go, IMO.

[Adrahil]

8. WOW.... what an awful bill.

No way this passes, I think.

[procon]

10. Deliberately targets blue states with higher costs of living, taxes, home prices. nt

[Thrill]

11. They basically giving Democrats Congress

If Dems can’t get their message right on this. I don’t kno w what to say.

[Azathoth]

12. "preserves deduction on existing mortgages"

These fucks are shameless. This is paid for on the backs of the blue states and the poor younger folk who are desperately working to pay of their college indenture and maybe buy their first house.

[ProfessorGAC]

16. This Seems Highly Unproductive

For people who lived beneath their means (in terms of housing) and paid off a mortgage in 15 years or less, they are now being punished for being frugal. Since the state income taxes are mostly regressive, it would seem more productive to leave that deduction in place and cap mortgage deductions at some low number. $10k may or may not be fair, i haven't done the math, but the people who take the biggest hit are homeowners that no longer owe the bank.

Be a good saver, budget well, pay off the house in a relatively short period and get left holding the bag? Not sure how anybody justifies that.

[Johonny]

17. Yes, or renters that never bought and are trying to save to buy

[superpatriotman]

15. Coward Ryan on teevee now

lying his way through the abortion cut, cut, cut bill

[HughBeaumont]

18. Technically, it works if not a single person is fired as a result.

Yet, after every massive tax cut to wealthy people . . . funny thing, ha ha . . . they tend not to be as benevolent with their ill-gotten gains as their puppets say they will be.