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Started By
Message
Senators consider automatic tax hikes if revenue falls short; Trump open to making deal
Posted on 11/28/17 at 5:14 am
Posted on 11/28/17 at 5:14 am
quote:
Senators consider automatic tax hikes if revenue falls short
LINK
Senate Republicans are considering a trigger that would automatically increase taxes if their sweeping legislation fails to generate as much revenue as they expect. It's an effort to mollify deficit hawks who worry that tax cuts for businesses and individuals will add to the nation's already mounting debt.
quote:
"We're making progress, minute by minute, hour by hour, day by day. But we're not there yet," said Texas Sen. John Cornyn, the No. 2 Republican in the Senate. Pressed on timing, he said the expectation is a vote this week.
A new congressional estimate says the Senate tax bill would add $1.4 trillion to the budget deficit over the next decade. But GOP leaders dispute the estimate, saying tax cuts will spur economic growth, reducing the hit on the deficit.
quote:
Trump and Senate leaders are trying to balance competing demands. While some senators fear the package's debt consequences, others want more generous tax breaks for businesses. In a boost for the legislation, Republican Sen. Rand Paul of Kentucky said he would back the measure.
Trump hosted Republican members of the Senate Finance Committee at the White House on Monday. GOP leaders were still trying to round up the votes in the Senate to pass the bill.
Whatever the Senate passes must be reconciled with the House version of the tax bill.
This post was edited on 11/28/17 at 5:17 am
9
Posted on 11/28/17 at 5:29 am to member12
I wonder if this is similar to GW giving the fire fighters a tax credit and then taking it away the next tax year
Posted on 11/28/17 at 5:31 am to member12
quote:Jesus Christ what pussies
Senate Republicans are considering a trigger that would automatically increase taxes if their sweeping legislation fails to generate as much revenue as they expect.
Posted on 11/28/17 at 5:35 am to GeauxxxTigers23
quote:
Jesus Christ what pussies
This is how the sausage is made. It sucks.
And it involves Bob Corker so you know it's mostly bullshite.
Posted on 11/28/17 at 5:37 am to GeauxxxTigers23
quote:
Jesus Christ what pussies
Or it's really a dog and pony show to please voters
Both parties do it
Posted on 11/28/17 at 5:40 am to GeauxxxTigers23
quote:
Jesus Christ what pussies
If i ignore what i think and put on my political hat for a second, i can put lipstick on this
Perhaps getting this through will allow them to gain in the Senate and then next go round, make shite more permanent
I know. I know. Positive thinking. LOL
Posted on 11/28/17 at 5:42 am to member12
Revenue won't fall short so this is irrelevant.
When revenue does not fall short then you move to get rid of the static analysis abortion.
When revenue does not fall short then you move to get rid of the static analysis abortion.
Posted on 11/28/17 at 5:48 am to gthog61
quote:
When revenue does not fall short then you move to get rid of the static analysis abortion
Exactly. Why the frick did we even pay attendion to the CBO anymore? It is literally NEVER right.
But, that wouldn't be so bad except it's not even DESIGNED to be right.
No business in the world would avoid bankruptcy doing "analysis" the way CBO is mandated
Posted on 11/28/17 at 5:52 am to Ebbandflow
quote:
Or it's really a dog and pony show to please voters
Senators want to protect their seats. They serve longer terms without limits so they don't have to bend and cave to a populist president easily. Trump will have to answer to voters before a lot of them do. They will get a lot of what they want out of this - particularly republican and moderate Democrats that either or or pretend to be "on the fence".
Republican senators want to give tax cuts but don't want a challenger accusing them of fiscal irresponsibility.
Democrats don't want a challenger accusing them of (gasp) giving the middle class or businesses tax cuts.
Corker doesn't give a shite either way because he's retiring.
This post was edited on 11/28/17 at 5:59 am
Posted on 11/28/17 at 6:04 am to member12
What a dumb fricking idea.
How about automatic cuts, instead?
How about automatic cuts, instead?
Posted on 11/28/17 at 6:07 am to member12
quote:
Senators want to protect their seats. They serve longer terms without limits so they don't have to bend and cave to a populist president easily. Trump will have to answer to voters before a lot of them do. They will get a lot of what they want out of this - particularly republican and moderate Democrats that either or or pretend to be "on the fence".
Republican senators want to give tax cuts but don't want a challenger accusing them of fiscal irresponsibility.
Democrats don't want a challenger accusing them of (gasp) giving the middle class or businesses tax cuts.
Corker doesn't give a shite either way because he's retiring.
I honestly agree. Both Republicans and Democrats need to admit that gun control, abortion, gay marriage..etc neurologist issues to rail at voters that have nothing to do with reality because no one will actually do anything about any of those
Posted on 11/28/17 at 6:15 am to Ebbandflow
quote:
I honestly agree. Both Republicans and Democrats need to admit that gun control, abortion, gay marriage..etc neurologist issues to rail at voters that have nothing to do with reality because no one will actually do anything about any of those
Neither party can do this until the American voter recognizes reality
The behavior of the parties is a direct reflection of the American populace.
For example . We bitch about nasty campaigns but nasty campaigns work. We complain that candidates don't run on detail but candidates who do run on detail lose.
You can bet your arse and if somehow tomorrow candidate started winning by being super candid and giving great detail in campaigns then that would become the norm among political candidates
Politicians want to win. Nothing they are doing in DC is anything we haven't trained them to do
Posted on 11/28/17 at 6:21 am to udtiger
quote:
What a dumb fricking idea. How about automatic cuts, instead?
Because everything they do is in THEIR best interest
It’s maddening to watch this huge fat bloated pig fight tooth and nail for every little crumb.
Let us have some cake you greedy bastards, it’s our money
Posted on 11/28/17 at 6:21 am to member12
The more I think about this concept, the dumber it is.
Shut, Reagan's first tax cuts didn't start bearing fruit until a year and a half after being passed.
Hopefully, the dumbasses behind this idea give it some time first. Otherwise, these cuts are an illusion.
Shut, Reagan's first tax cuts didn't start bearing fruit until a year and a half after being passed.
Hopefully, the dumbasses behind this idea give it some time first. Otherwise, these cuts are an illusion.
This post was edited on 11/28/17 at 6:28 am
Posted on 11/28/17 at 6:28 am to member12
The tax bill gets just a little worse each time it's exposed to the light. Any effort to craft a palatable tax proposal fails unless bipartisan efforts are achieved, and right now the Democrats rightly refuse to touch this mess with a 10 foot pole
Posted on 11/28/17 at 6:30 am to tarzana
quote:
The tax bill gets just a little worse each time it's exposed to the light. Any effort to craft a palatable tax proposal fails unless bipartisan efforts are achieved, and right now the Democrats rightly refuse to touch this mess with a 10 foot pole
So to translate. " it's horrible that they are trying to pass a bill without bipartisanship but your side is right for remaining 100% partisan"
Checks out
Posted on 11/28/17 at 6:38 am to ShortyRob
quote:
So to translate. " it's horrible that they are trying to pass a bill without bipartisanship but your side is right for remaining 100% partisan"
This.
Democrats don't want you to get a tax cut. The ones that are okay with it will be able to write a lot of this bill.
Posted on 11/28/17 at 8:24 am to member12
So who would they raise the taxes on?
I'd be shocked if it were the corporate taxes that go up in this scenario.
I'd be shocked if it were the corporate taxes that go up in this scenario.
Posted on 11/28/17 at 8:31 am to member12
quote:
Senate Republicans are considering a trigger that would automatically increase taxes if their sweeping legislation fails to generate as much revenue as they expect.
How about some automatic spending cuts.
quote:
Republican Sen. Rand Paul of Kentucky said he would back the measure.
I wonder how many more neighbors he has and how many ribs he has left that can be broken.
Posted on 11/28/17 at 8:34 am to ctalati32
How about coupling "automatic" tax hikes WITH automatic spending cuts - REAL spending cuts on a 50/50 basis?
IE if revenue is short 1 billion, then $500 million comes from tax hikes and $500 million comes from actual cuts...
IE if revenue is short 1 billion, then $500 million comes from tax hikes and $500 million comes from actual cuts...
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