This is as good an explanation about the new tax bill as I have seen. Please read it!
“You cannot get the national debt under control, you cannot get that deficit under control, if you don’t do both — grow the economy, cut spending. We’re going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit,” ~Paul Ryan
Paul Ryan says this, at the same time he pushes a tax cut for corporations and billionaires.
The House and Senate are working furiously, with hopes of having a final version of the GOP tax plan signed before Christmas.
The meatiest part of the bill include—
- A tax cut to corporations, a decrease from 35% to 20%,
- Tax cuts for the wealthiest 1%
The bill means an increase in taxes for 87 million middle class families by way of:
- A cap on tax deductions for homeowners
- An end to state and local tax deductions, especially devastating for homeowners in high…
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