House GOP Pass Historic Tax Reform! — Stock Market JUMPS 215+ Points! – ZERO DEMOCRAT VOTES

thegatewaypundit ^ | Jim Hoft

[EQAndyBuzz]

“That’s a lie, it jumped about 15 points. Rest of the rise started with the Nikkei last night.“

Yup. And Cisco earnings exceeded expectations.

[Avalon Memories]

So will at least 4 others. Collins almost certainly. The senator who already said no. The two who are in a snit against Trump and are not running for reelection. And possibly Murkowski. I think tax reform is dead in the senate.

[shanover]

Fail to see much of a difference between a Dem or Repub.

The both suck in distinct ways.

[QuigleyDU]

hmmmm.... That was easy, now lets see what the vindictive Senate will do. Trump needs a win, but not even close to sure my taxes, I’m in the south, aren’t going up according to available info.

[DoodleDawg]

The much doubled standard deduction would be good for many working Americans

The elimination of the personal exemption will negate that increase in the standard deduction for a family of three. For a family of four or more their net deductions will be less than they were before the law was passed. Deductions go down, taxable income goes up, taxes go up.

[Steve Van Doorn]

I havn't been paying much attention to this bill. Anything you suggest that you can point me to?
Thanks

[elpadre]

sorry you don’t like it. I am well pleased.

[dowcaet]

The Senate will not vote for this. We know this tax bill stinks, but any bill will be defeated by them to deny Trump any kind of legislative victory. In this case I don’t mind seeing this particular tax bill go down!

[elpadre]

“The both suck in distinct ways. “

The Senate version has a year delay in corporate tax relief which I think is a mistake..

I would make a few changes for me, personally. But all in all this is a good bill.

[butlerweave]

Global Warming

[Signalman]

But the same GOP traiterous crew in the Senate, Collins, McCain, etc. will kill the bill, just because they don’t like Trump.

[davidb56]

in the senate, they are already there, except for 2-3 senators.

[speedracerx]

Agree.

People need to read it, understand it, before commencing the bashing. This is NOT a tax reduction plan.

Note the more recent adddition of the term “overall” and terms like “adjustment”. Middle and higher wage earners will be hosed. People with home mortgages over $500K get hosed (and that’s a lot of people across the Country!).

Business and Corporate taxes do improve. But I’m not seeing anything for those earners that pay today.

I would have liked to have seen the elimination of the refunds on tax filers with no income tax paid.

[butlerweave]

it will probably make the price drop

[Oldeconomybuyer]

This is deduction reform, not tax reform.

[M Kehoe]

There is this thing called reconciliation. The House and Senate will go to conference to agree on the final legislation to send to president Trump.

The Senate will screw up a wet dream.

Even with the Republicans owning the House, Senate and Presidency, I fear we are teetering on the abyss.

5.56mm

[PeteyBoy]

I live in a very nice community of about 20,000 people. There are no houses around here that command a $500K mortgage. There are a ton of very nice and large houses. I can’t think of anybody I know who would feel sorry for someone who looses their deduction for interest on a $500K mortgage.

I live in NEW YORK STATE.

[TexasGunLover]

I would have liked to have seen the elimination of the refunds on tax filers with no income tax paid.

I'd like to see elimination of income tax and implementation of a nationwide sales tax so that those that consume pay proportionate to what they consume, not what they earn.

In lieu of a use tax like that, I'd REALLY like to see a reverse income tax, where the less you make the greater percentage you make, so that those that consume more handouts pay more.

A flat income tax would also be acceptable.

[TexasGunLover]

I live in a very nice community of about 20,000 people. There are no houses around here that command a $500K mortgage. There are a ton of very nice and large houses. I can’t think of anybody I know who would feel sorry for someone who looses their deduction for interest on a $500K mortgage.

Why tax more because they spend and contribute more to the economy? Tax everyone equally.

[DoodleDawg]

I can’t think of anybody I know who would feel sorry for someone who looses their deduction for interest on a $500K mortgage.

What about losing deductions for state and local income taxes. Will that be hurting anyone?