Conflicting Provisions In House GOP Tax Bill May Curb Middle Class Income Hikes

[DonViejo]

Josh Boak Published NOVEMBER 2, 2017 2:08 PM

WASHINGTON (AP) — House Republicans have stressed that the tax plan they unveiled Thursday is tailored to benefit America’s middle class. Just how much it would remains uncertain based on the details that have been provided so far.

The plan promises tax savings next year of $1,182 for a typical household of four with gross income of $59,000, leaving their tax bill at $400.

“We are focused on increasing paychecks in a major way,” said Rep. Kevin Brady, the Republican chairman of the House Ways and Means Committee. But the proposal’s conflicting provisions and phase-outs of certain benefits suggest that taxes could rise for some middle class earners over time. And for many, the income gains being touted by President Donald Trump are unlikely to materialize.

Some of these complications arise because under the budget instructions, the planned tax cuts can’t increase the national debt by more than $1.5 trillion over the next decade. Anything above $1.5 trillion would force Republicans to amend their plan to generate more revenue — a change that would likely prove difficult.

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http://talkingpointsmemo.com/news/conflicting-provisions-house-gop-tax-bill

[Wellstone ruled]

1. Bullshit!!!!!

[Angry Dragon]

2. bring your shovel

[Wellstone ruled]

3. Just caught Velshi burning this sucker at the stake.

Even the Lobbist's are lining up to rip this sucker to pieces and if they are P.Oed,dang,Ryan and company are in deep poop.

Back of the Envelop Math shows,the bottom forty plus percent of the Country,which is about 150 million Tax payers,will see anywhere from a few hundred dollar to a couple of thousand dollar increase in their Tax bill. No one is talking about the effect of Mandatory Distributions form 401's and Pensions and their effects on ones Adjusted Gross Incomes on their 1040's.

Ring the bell folks,it is a major wealth transfer paid for by the likes of you and I. Bloomberg is warning of a Economic Crash if this thing ever sees the light of day.