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

thegatewaypundit ^ | Jim Hoft

[newfreep]

BINGO...and worth repeating!

The Democrat Party (Mob) is nothing more than a loose coalition of Marxist Communists, Socialists, environmental scammers, welfare parasites, abortionists, racists, race baiters, perverts, illegal aliens, and other assorted criminals comprising close to a majority of the U.S. population. What the Mob doesn’t have in numbers, they make up for with voter fraud during elections.

[buckalfa]

What the House giveths, the Senate takeths away.

[subterfuge]

Ha! A lot of “work” to do? Not picking on you, but using that word to describe arm-twisting, back slapping, favor-calling and blackmailing while living the high life on the taxpayers’ backs is a stretch if you ask me.

But I know what you mean.

[Bringbackthedraft]

Can’t say there is no unity in the parties. They can all agree on certain items. i.e. Congressional pay raise. There is never any conflict when it comes to that.

[fortheDeclaration]

Democrats are communists, they never vote against the Party.

[tumblindice]

“They can all agree on certain items. i.e. Congressional pay raise.”

I remember that they caught so much flak in `86 for voting themselves pay raises that they fixed that problem by making the raises automatic—no need for a vote.
Is is possible to have a right-in candidate: “None of the above”?

[rktman]

Sorry, not directed at you. We would be pleased as well but not counting any chickens yet. Probably not likely to get any dementocrat support over in the "grown ups" chamber either. 👹

[familyop]

"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."

If the House hasn't lowered it since I last saw it, the House bill would raise the standard deduction for a married couple to $24,000 and for a single to $12,000. The personal exemption for 2018 is going to be $4,150.

[familyop]

The child tax credit would go up to $1,600, if the House hasn’t revised that.

[Sirloin]

If they eliminate the state and local tax deduction it means I cannot deduct my local income taxes from my federal tax return. In effect I’m being taxed twice on the same income. 15k in state income taxes means about $4,000 to the FED if this monstrosity passes.

[familyop]

The personal exemption for 2018 will be $4,150, if it isn’t phased out before then by signed tax reform. Sorry for the lack of clarity the first time.

[DoodleDawg]

The personal exemption for 2018 will be $4,150, if it isn’t phased out before then by signed tax reform. Sorry for the lack of clarity the first time.

Both the House version and the Senate version do away with the personal exemption. If passed this year then it will be gone in 2018.

[DoodleDawg]

The child tax credit would go up to $1,600, if the House hasn’t revised that.

Depending on your income that doesn't offset the loss of the personal exemption.

[familyop]

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

That's an interesting question. I'll look for the info on how it's calculated for federal filings.

[familyop]

I don’t have any little ones around, by the way. They have a tendency to grow up and fly out of the coup. ;-)

[familyop]

"GOP no votes on the tax bill" (re. your graphic in comment #30.

Thanks! I looked them up. They're representatives for New York, New Jersey and California. There was only one outside of those states, in North Carolina. Very interesting!

[Yardstick]

Their discipline is impressive. Liberals like to think of their party as being like herding cats while the Republicans are in lockstep formation but it’s the opposite. Historically they are the party of lockstep discipline. Which isn’t surprising given they’re a bunch of borg cube statists.

[Steve Van Doorn]

Thank you