Posted on 09/27/2017 1:55:39 PM PDT by markomalley
Matt Drudge trashed the new tax reform proposal by congressional Republicans as a plan no different than something Democrats might have designed.
"First keep Obamacare, now raise taxes on top earners?" the founder and editor of the influential Drudge Report wrote on Twitter, referring to a reported "surchage" in the plan for the wealthiest earners. "At least illusion there is difference between parties is finished once and for all!"
In another tweet, he said, "Big winner if they pass it: No income tax states. Nashville and Austin will be as crowded as Manhattan..."
The bill was pitched by Republican leaders as an overall tax cut for middle-income earners and a simplification of the tax code that would make filing taxes easier for individuals.
It's backed by Trump, who Drudge generally supports.
Bump
Drudge is a stooge. He’s been part of the swamp for a very long time.
To some degree he’s not wrong. However, the top 5% are going to benefit the most from the massive reduction in corporate income tax (primarily through equity appreciation as earnings go higher). That will benefit everyone, but predominantly the top earners.
“””It’s backed by Trump, who Drudge generally supports.””””
Sorry but from what I have heard Drudge no longer supports Trump but what do I know
Drudge is not required reading.
Raising the rates on lower incomes means that the 47% now have skin in the game. Tell that to a nation of kleptomaniacs.
Anthing in there for pass-through s corp distributions? Will they still be at the personal income tax rate?
What makes anyone who has seen the woeful state of leadership in the Senate and House lately think they can accomplish anything when it comes to reform?
It takes cohonies and a few swift kicks (ala Trump) to get a herd headed the right direction.
They lie, they stall, they do nothing at all,,
See them twirl, see them spin,,
See them drinking dry, flasks full of gin.
No, the total US corporate tax rate is 24%, so even if all deductions were eliminated, it’d still be a big cut (17% reduction -> 4 / 24) but some deductions will still make it in. But there are a LOT of US industries that do pay 35%+ federal income taxes (retail, hospitality, small business, restaurants, etc). The one I currently work for (hospitality) and my last firm (retail) both have over 35% tax rate.
President Trump said it hurts him! So of course it hurts Drudge.
I wonder, after it passes, when it would take effect. Especially the death tax elimination
Exactly.
True.
As far as trashing the proposal to eliminate the state tax deduction, they are also proposing doubling the standard deduction which will cover most middle-class folks that even had enough deductions to file a schedule A to begin with. The middle-class are the ones that Trump wants to help.
Drudge is right about the headline but wrong about the details. Did he miss the CUT from 39% to 35% for top earners.
This budget in fact fails to deliver and in fact raises taxes on Trump’s base, the middle class.
I don’t go there anymore. You are right!
DAVE BRAT LIKES IT.
That’s high praise!
And a sure sign the Dems would never approve.
So, what is today’s middle class and who are the wealthy. Where is this bar held?
Drudgereport is lame. I read FR and Breibart that’s about it. I’m going to add drudgereport to my Pie-Hole AdBlocker too. He is toast in another year or two if not sooner. It was a good run Drudge while it lasted.
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