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…
View original post 389 more words
Do you know what is going to happen to all the people who own houses if they cannot deduct their state taxes? It’s going to cut the ground out from under the real estate industry — those are supposedly Trump’s pals — and they are NOT happy. But for everyone who owns a house — ANY house — it is going to devastate our ability to get any money back. It’s going to kill us. And that’s just the beginning of the slaughter. From there, it just gets worse and worse. What a horror show.
LikeLiked by 1 person
Just unbelievable that they would do this. If anyone votes Republican in the next election, they are a fool. How far does it have to go before they realize that the billionaires have staged a coup?
LikeLike
I’ve run out of things to say about the revolting sickness of greed…
LikeLiked by 1 person