01-06-2017, 11:21 AM
Since David mentioned GWB, the outcome of his tax-cut plan is probably what we will see in this next round of tax cuts: In 2001, the Democrats, using Al Gore's having won the popular vote as leverage, forced the Republicans to cut the bottom income tax rate from 15% for 10% in exchange for not filibustering the tax cuts on the rich.
This time around, the outright tax increases on single taxpayers working full time at less than $10 an hour, plus the tax hikes on the bottom 51% of all single parents, of the Paul Ryan tax plan, will be DOA in the Senate. Look for something like a new 8% rate on the first $3,000 of taxable income, plus a scrapping of the abolition of the personal exemption, to be part of the plan actually passed - and no "offset" in the form of scaling back the upper-income tax cuts is necessary because there is not even a pretense of making the tax cuts "deficit neutral."
This time around, the outright tax increases on single taxpayers working full time at less than $10 an hour, plus the tax hikes on the bottom 51% of all single parents, of the Paul Ryan tax plan, will be DOA in the Senate. Look for something like a new 8% rate on the first $3,000 of taxable income, plus a scrapping of the abolition of the personal exemption, to be part of the plan actually passed - and no "offset" in the form of scaling back the upper-income tax cuts is necessary because there is not even a pretense of making the tax cuts "deficit neutral."
"These, and many other matters which might be noticed, add a volume of unofficial declarations to the mass of organic utterances that this is a Christian nation" - Justice David Brewer, Church of the Holy Trinity v. United States, 1892