Bethea's Byte
Log in

I forgot my password

Who is online?
In total there is 1 user online :: 0 Registered, 0 Hidden and 1 Guest

None

[ View the whole list ]


Most users ever online was 12 on Sun Aug 05, 2018 2:30 am
Statistics
We have 14 registered users
The newest registered user is Jackster

Our users have posted a total of 1137 messages in 452 subjects
January 2019
SunMonTueWedThuFriSat
  12345
6789101112
13141516171819
20212223242526
2728293031  

Calendar Calendar

Latest topics
» The 'STUPIDITY Act' Could Stop Government Shutdowns From Happening Ever Again
Yesterday at 9:33 pm by The Last Outlaw

» New Orleans Lawyer Files Lawsuit in Hopes of Replaying NFC Championship Game
Yesterday at 2:15 pm by The Last Outlaw

» Dog the Bounty Hunter's Wife Beth Chapman Undergoing Throat Cancer Treatment Again
Mon Jan 21, 2019 9:40 pm by The Last Outlaw

» What are your plans for the day.
Sat Jan 19, 2019 11:01 am by Naiwen

» MLK Day to the Super Bowl: Five Events That Could Pressure Congress, Trump Over Shutdown
Sat Jan 19, 2019 6:50 am by The Last Outlaw

» How are you feeling right now?
Sat Jan 19, 2019 6:20 am by The Last Outlaw

» Bush Calls on Trump, Democrats to 'Put Politics Aside' and End the Shutdown
Sat Jan 19, 2019 6:14 am by The Last Outlaw

» New UK general election over Brexit?
Sat Jan 19, 2019 6:07 am by The Last Outlaw

» Jason Van Dyke Sentenced to 6 3/4 Years In Prison For Killing of Laquan McDonald
Fri Jan 18, 2019 4:02 pm by The Last Outlaw

» Trump Again Calls Cohen a Liar After Bombshell BuzzFeed Report
Fri Jan 18, 2019 2:46 pm by The Last Outlaw

» Congress to Probe Whether Trump Told Lawyer Cohen to Lie
Fri Jan 18, 2019 2:21 pm by The Last Outlaw

» Sony, R. Kelly Agree To Part Ways: Exclusive
Fri Jan 18, 2019 11:59 am by The Last Outlaw

» Prince Philip Unhurt in Crash While Driving
Fri Jan 18, 2019 8:56 am by The Last Outlaw

» The First Free Byte of 2019: Gov't Shutdown and Pettiness in Washington, DC
Fri Jan 18, 2019 7:42 am by The Last Outlaw

» Last thing you ate/drank
Thu Jan 17, 2019 7:05 pm by toetapping

» Why New Mom Kate Upton is 'Jealous' of Other Sports Illustrated Swimsuit Models
Thu Jan 17, 2019 4:34 pm by The Last Outlaw

» Lindsey Graham Slams Pelosi-Trump Feud: ‘One Sophomoric Response Does Not Deserve Another’
Thu Jan 17, 2019 4:20 pm by The Last Outlaw

» Tom Marino To Resign From Congress
Thu Jan 17, 2019 2:57 pm by The Last Outlaw

» 3 Chicago Police Officers Acquitted Of Cover-Up In Laquan McDonald Shooting
Thu Jan 17, 2019 1:05 pm by The Last Outlaw

» CNN Anchors Challenge Democrat On Claim That Graham 'Is Somehow Compromised'
Thu Jan 17, 2019 11:47 am by The Last Outlaw

Top posting users this week
Top posting users this month
Affiliate With Bethea’s Byte
Bethea's Byte CBox Chat

New GOP Tax Cuts Would Add $3.8T To Deficit, Says Report

View previous topic View next topic Go down

The Last Outlaw
The Last Outlaw
Head Administrator
Head Administrator
Male Posts : 587
Age : 42
Join date : 2018-05-25
Location : Salem, Oregon, USA
Status :

View user profile http://betheasbyte.forumotion.com/forum

PostThe Last Outlaw on Thu Sep 13, 2018 5:20 pm


From The Hill

Chris Mills Rodrigo of The Hill wrote:

A second round of GOP tax cuts would add $3.8 trillion to the federal deficit over the next two decades, according to a report released Thursday by the Urban-Brookings Tax Policy Center Wednesday.

The proposed bill, "Protecting Family and Small Business Tax Cuts Act of 2018," would reduce federal revenue by $631 billion from FY 2019-28 and an additional $3.15 trillion between FY 2029-38.

The bill, released by Chair of the House Ways and Means Committee Kevin Brady, would extend individual income and estate tax provisions in the 2017 Republican tax bill, the Tax Cut and Jobs Act."

The report from Urban-Brookings, which is led by a former tax official from the Obama administration, states that about two-thirds of taxpayers would get a tax cut, while about 9 percent would get a tax hike from the bill. Higher-income households, it says, on average would receive larger average tax cuts as a percentage of after-tax income.

The provisions in the tax law are not set to expire until 2025 regardless, which explains the lower estimate for revenue lost in the first 10-year period.

While Republicans have argued the new tax bill would boost the economy, the report estimates its effects would be minimal. It estimates the bill would increase GDP by about 0.5 percent in 2026, 0.4 percent in 2028 and 0.1 percent in 2038.

By imposing lower tax rates on labor and capitol income, the bill would increase incentives for working and saving. This feedback loop would increase revenue by a cumulative $71 billion over the first decade analyzed and $157 billion over the second.

The Joint Committee on Taxation also estimates $631 billion in revenue would be lost under the bill in the next decade, but has not made predictions past then.

These are the tax cuts that are supposed to help the "little guy."  Yeah, right!

Ladies and Gentlemen, my "C'mon Man" moment of the day.  Tax cuts for the rich, adding $3.8 Trillion to the deficit?

C'MON MAN!!!


_________________

View previous topic View next topic Back to top

Create an account or log in to leave a reply

You need to be a member in order to leave a reply.

Create an account

Join our community by creating a new account. It's easy!


Create a new account

Log in

Already have an account? No problem, log in here.


Log in

 
Permissions in this forum:
You cannot reply to topics in this forum