The Great Tax Gift

Let me tell you how it will be
There’s one for you, nineteen for me
Cos I’m the taxman, yeah, I’m the taxman

Should five per cent appear too small
Be thankful I don’t take it all
Cos I’m the taxman, yeah I’m the taxman

If you drive a car, I’ll tax the street
If you try to sit, I’ll tax your seat
If you get too cold I’ll tax the heat
If you take a walk, I’ll tax your feet
-Taxman (The Beatles)

The big news this week the tax bill will be voted on and most folks believe it will pass with little or no support from the Democrats.

President Donald Trump said, “This is going to be one of the great gifts to the middle-income people of this country that they’ve ever gotten for Christmas.”

Oh, holy night!

The new Republican tax bill is posted online and it’s about 1,100 pages in length. You can view the document HERE. Prepare yourself with some caffeine.

The title of the bill is “Tax Cuts and Jobs Act.”

Those in Congress have a hard time coming up with the catchy titles. After reviewing this bill I’d probably call it “Rich Poor Tax Act.”

Of course, Democrats don’t like the bill. When they are in charge, maybe they can change it. I’m sure there are some parts of the “Tax Cuts and Jobs Act” that Democrats like, but they are too proud to tell us.

Maybe one of these days John Q. Public will get sick and tired of the Republicans and Democrats not working together on important issues like healthcare and taxes. Maybe then we will elect more independents.

The New York Times has a handy-dandy calculator that will help you determine how the new tax plan will affect you. See it HERE.

The New York Times also has a list of “Winners and Losers” from the tax bill.

CBS News looks at the ‘Winners and Losers” in the tax bill HERE.

Reuters takes a look at the “Winners and Losers” in the tax bill HERE.

I’m sure some left and right wing sites have their own version of winners and losers.

Enjoy the great gift folks! Merry Christmas!

 

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Published in: on December 18, 2017 at 11:27 am  Comments (2)  
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2 Comments

  1. Bob Corker says he hasn’t read the bill. John Cornyn says they added a provision in the bill to “win” Corker’s vote. That provision is a straight-up bribe that will enrich Corker, Trump and many other mega-landlords. The #CorkerKickback effort on Twitter is giving the Rs some doubts on voting for this.

    • Doug – Thanks. The Corker issue is interesting. It’s something that is done a lot in Washington. -JmB


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