Most of that has absolutely NO Constitutional authorization. In fact, the actual Constitutional part of that is almost certainly less than $1 Trillion.
"Entitlements" and Ponzi Schemes are killing us.
Posted on 11/07/2017 10:23:49 AM PST by Mariner
Sen. Ted Cruz (R-Texas) on Tuesday criticized the House GOP tax plan for likely raising taxes on individuals in high-tax states such as New York and California and called for language to repeal the individual mandate to produce more revenue.
Cruz called raising taxes on people in wealthy, staunchly Democratic states such as New York and California "a mistake."
Cruz has teamed up with fellow conservative Sens. Tom Cotton (R-Ark.) and Rand Paul (R-Ky.) in calling for tax reform to include language repealing ObamaCare’s tax penalty on people who don’t buy health insurance.
The provision would raise an estimated $300 billion to $400 billion over the next decade, which Cruz and other Senate conservatives say could be used to lower individual tax rates even further.
“There are some taxpayers who are losing exemptions, particularly in some high-tax states like New York or California that could conceivably be paying higher taxes. I think that is a mistake. I think tax reform needs to cut taxes for everybody,” Cruz told reporters at a press conference Tuesday.
The New York Times reported Tuesday that the House bill would raise taxes on one-third of all middle-class families next year.
(Excerpt) Read more at thehill.com ...
Looky there! Is that pigs flying?
1. Cut taxes.
2. Cut spending.
3. Repeat.
Amen.
Actually, when it came to Trump, I think Cruz agreed with the NY Times throughout the entire 2016 Presidential election campaign
No. And don’t start this crap again.
“Actually, when it came to Trump, I think Cruz agreed with the NY Times throughout the entire 2016 Presidential election campaign”
I think that’s irrefutably true.
But I believe in this case, alone, Cruz is correct.
Well, stop it in the Senate; then take a blowtorch to it.
Then write a simple flat tax on gross income with no deducts except for personal exemptions (24k sounds about right). Get RIDDDD of the EITC. Gotcha postcard right here.
President Trump is opposed to touching entitlements and is in favor of raising defense spending.
So, you have about ten percent of the budget in which to cut.
Raise tariffs, cut taxes
Every state in the union has taxpayers who use the SALT deductions.
In fact, South Carolina is the #1 beneficiary per capita.
Texas is the 3rd highest net. Well over a million taxpayer in Texas alone itemize and take the SALT deductions.
Why does that not bother you?
Cruz is correct. The entire Ways and Means Committee foundation for this bill is: slash the corporate rate to 20%, and let them keep their full SALT deductions on top of that, but pass on the tax hike to “pay for” corporate tax cuts via raising the taxes of millions of middle class taxpayers. The GOP at this stage only care about retaining their seats because the rich donors have threatened them. The GOP has thrown the middle class to the wolves.
I have been thinking about what a ripoff this has been for the country. The big lib states all have ski high state and local taxes. If you take NY and their 10% income tax deduction on the federal tax.
That is all money that should be going to the federal government yet the states have somehow stepped in front of the federal government and kept the money for themselves. They know when the increase taxes they are just taking a larger share of federal tax revenue.
Its time this stupid game is stopped. THEY ARE NOT PAYING THEIR FARE SHARE.
Its also time that the GOP (what little there is in these states) start demanding lower state and local taxes. If this tax plan passes and the big lib tax states take the bite. The GOP will be in a perfect position to offer an alternative of lower taxes at the state and local level because everyone will be demanding it.
There's your problem, right there. The New York Times agrees with him. Go Figger ...
Most of that has absolutely NO Constitutional authorization. In fact, the actual Constitutional part of that is almost certainly less than $1 Trillion.
"Entitlements" and Ponzi Schemes are killing us.
“THEY ARE NOT PAYING THEIR FARE SHARE. “
I’ll write you a pass on this one as it’s likely you are only hearing the GOPe version.
1. Taxpayers in every state take the SALT deductions.
2. Texas is the 3rd highest beneficiary, net, of the SALT deductions.
3. When the Income Tax was first passed in the US Congress circa 1913 it included provisions for the SALT deductions. At that time it was considered immoral to tax money used to pay taxes. *How far the GOP has come! *
4. The states you are concerned not paying their fair share are all “donor states”. They pay more in Federal Income Taxes than comes back in Federal expenditure of ANY KIND.
CA, NY, NJ and IL are all net donor states.
Texas, on the other hand, receives $1.50 for every $1 its taxpayers send to DC.
Now, just who is subsidizing whom? And who is not paying their fair share?
1. Cut taxes.
2. Cut spending.
3. Repeat.
>>><<<
Reduce spending on entitlements 2% per year until they are gone.
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