Many of my deductions are being made illegal and destroyed.
But glad I can pay more to help out the Illegal Invaders.
Thanks GOPe.
I wish Trump would not sign this, but he will sign anything that gets to his desk as the article pointed out.
The owner of the NY Yankees is Randy Levine. He worked in the Reagan Administration, and was Rudy Giuliani's deputy mayor. He is also a long time close friend and supporter of Donald Trump.
And Levine is telling Trump this Tax Bill is a piece of garbage.
Yankees boss calls Trump tax plan a ‘swamp deal’
The Wall Street Journal reported that Trump called Levine after Levine had written this open letter to Newsmax:
Mr. President, the Tax Plan Needs a Big Fix!
I encourage everyone to read that letter.
Republican leadership in Congress has disappointed you time and time again. Now your good intentions on tax cuts are following the same path. The plans on the table are not middle-class tax cuts. They may not even be tax cuts at all. When you ran and won, you ran on draining the swamp, not giving new life to it. You ran on tax cuts, not on the swamp's idea of tax reform where special interests win. This is a plan that helps Wall Street, hedge funds, private equity managers, real estate and oil and gas partnerships and individuals who disguise income as profits or distributions.
It is wrong to eliminate or limit property tax, mortgage and interest deductions. Hardworking people have relied on them for years, this is how they afford to buy homes and build nest eggs in the equity of their homes. These proposals erode that equity, equity countless numbers of Americans rely on for retirement. These current bills will be extremely harmful to those who live in the suburbs and small towns. Similarly, the removal of the state and local tax deduction is a de facto tax increase for tens of millions of Americans. The argument that other states should not subsidize big government states is a complete red herring. For example, our state, New York, sends much more money to Washington than it receives back. In other words, states like New York, New Jersey and California are subsidizing other states, allowing them to lower state and local taxes or have none at all. If we eliminate state and local taxes, then a comparable law should be enacted that all 50 states pay the federal government the same amount of money.
The Washington Post further reported that Trump has been "listening" to other wealthy friends who are telling him that the bills that Mnuchin, Cohn, Ryan, and McConnell wrote and rammed through are horrible for many Americans.
I think Trump will listen, but he can't roll back the worst of these bills. The core structure of both bills is to redistribute $1.5 Trillion in taxes from corporations to individuals (middle and upper middle class).
You would have to burn both bills down and start completely over, which they are never going to do.