The (REAL) Truth About The New Tax Bill

I don’t know about you, but I am really getting sick of watching all of the knitwit liberal airheads blasting their hype and propaganda all over facebook, twitter, Google + and everywhere else they can about how the Tax Bill which congress is about to enact into effect will hurt “poor” americans while helping the rich.  I’m here to tell you, NOTHING could be further from the truth.

At first glance, rational folks will ask themselves…”well, they couldn’t get away with bold faced lying…could they?  Maybe there is some truth to their accusations?”  Just like in all good con games, the best lies are based on a little bit of verifiable truth.  The problems start when you conveniently overlook the details which prevent the legislation from causing harm.  here’s an example.

All over Twitter, liberal idiots like Alyssa Milano are hyping up the fact that the new bill takes away from healthcare.  They are absolutely right, it does.  It IMMEDIATELY stops the poverty stricken people of the United States from the burden of having to pay the legally mandated taxes to maintain and expand Obamacare.  These taxes weren’t too severe in the first few years after Obamacare was enacted, but, like the sliding scale used to pay professional sports athletes their signing bonuses, the legislation which enacted Obamacare called for the tax burden to the people, even people who don’t use it because they have insurance through their jobs, to slowly and steadily increase year after year.  This is what President Trump was talking about during the presidential campaign when he told Americans that they could do nothing about Obamacare and it would just implode, however it would hurt an awful lot of poor Americans when that happened and he wasn’t going to let that occur.

That’s what is happening now.  Now that we are in the sixth year of Obamacare, the costs to unwitting Americans has become staggering. when you combine that with the Obama administration’s allowing of the Bush Tax cuts to expire, the tax burden America’s poor face now is overwhelming.  This new Tax bill stops that in numerous ways, the most prolific however is by alleviating the American people of paying taxes to fund Obamacare and all of its nuances.

Next, Democrats and other people who have never read the bill will tell you that the new tax bill actually raises taxes instead of lowering them and even stops the ability to make common deductions which many people rely on when filing their taxes.  This, again, is a half truth.  It is very true that the new bill will eliminate the ability to write off certain things on people’s taxes and it is also true that some people’s taxes will go up to offset the cost of the bill.  What the democrats WON’T tell you though, (either because they never read it and don’t know, or because they are intentionally lying to you) is that deductions and tax increases will only affect families earning more than $75,000 per year in a single income household, and families earning over $90,000 in a dual income household. Another little tidbit that the loose-lipped liberals fail to mention is that virtually no American families making less that $75,000 per year file itemized tax returns!  Almost all American families earning under $100,000 per year file the EZ 1040 short form and therefore, wouldn’t be affected by the new bill even if it did apply to people making under the $75k threshold.

Next, our socialist liberal maniacs would have you believe that the new tax bill is going to increase our deficit by about 1.5 trillion dollars.  Again, only a little bit true.  The new bill will increase the deficit, but only by about 500 billion dollars (half a trillion) which is about 1/3 of what the dems are trying to tell everybody it will go up.  They also will tell you that Republicans have been swearing all along they were going to lower the deficit not increase it, which is absolutely true.  What they don’t add however, is that President Trump already submitted a budget to congress and the House which would have reduced the deficit by almost 13 Trillion dollars over the next 6 years.  They, of course, shot it down, so the deficit remains ridiculously high thanks to one Barack Muslim Obama who became President in 2008 with a national deficit of 12.2 Trillion, and went out in 2016 with a national debt of 22.8 trillion, which means that one single President, in 8 years almost doubled the nation’s entire deficit from what it was after 43 other Presidents before him.  THAT, my friends, is a disgrace.

Now liberal liars like Alyssa Milano will scream that “since there is a republican majority in the house and in the senate, that democrats can’t block anything.” (That is a direct quote from her, by the way).  This, of course, is absolutely untrue.  In case you didn’t know, as she apparently should have stayed in school to learn before shooting her mouth off, most legislation that passes through our government needs a 2/3 majority vote to pass.  That means instead of just needing 51% of the vote, lawmakers require a whopping 66.7% of the votes in order to pass sweeping legislation.  While the republicans absolutely do have a majority in the House and the Senate, they do not have 2/3 majority (at least not yet – we’re hoping to remedy that in next year’s midterm elections).  But until that happens, any serious piece of legislation our lawmakers intend to pass, does require at least a little support by democrats.  This is easily seen just in the passing of the tax bill we are talking about here.  If it weren’t for the fact that several democratic congressmen agreed with the bill and voted in favor of it, it never could have passed.  They did, and the bill is now expected to pass without further hindrance.

And WHY would even one democrat vote for such an outlandish bill if we are to believe it was authored by Satan himself and will be the financial ruination of so many poor American families?  The answer is simple.  All of that hype is nothing more than liberal blustering to try their best to prevent President Trump’s administration from successfully helping the American people like he promised he would.

To use a worn out cliche, these democrats would rather let the bus crash then help the driver stop it safely just so they could say they were right.  It’s a shame.  It’s very sad, but it’s also very true.

To be correct, this tax bill is not perfect.  No piece of legislation ever is.  Once a bill like this is authored, it is distributed to each member of our country’s legislature so they can review and decide how they wish to vote.  More often than not, each one of them will make little changes in the bill which are designed to help their specific constituents.  Some of these suggested changes are rebuked and denied unilaterally, but many are adopted and incorporated into the bill.  The end result being a piece of legislation that sometimes only slightly resembles the originally authored bill, and this tax bill is no different.  Suggestions were made, compromises were discussed and changes were implemented.  Many of these changes undoubtedly made the bill even stronger and better than it originally was. That is what the President meant when he tweeted that the bill is getting better and better as it passes through the process.  This is how our government works.  It’s how laws are made and how lifelong politicians keep the people that voted for them happy.  For the most part, it works unless some faction of that diplomatic machine just refuses to play along.  When that happens, the whole process grinds to a halt like it did when the President tendered his 2017 budget proposal.

In the end, this tax bill isn’t perfect, but it drastically and immediately grants relief to millions of poor Americans making under $75k per year who otherwise would have gotten one heck of a bad surprise come April 15, 2018 when they would have gotten back less than half of what they did last year.

I didn’t write this blog to try and convince anyone of anything.  I wrote it to encourage all of you who have an opinion or want to proffer one, to at least read the bill before chastising it, the people who wrote it, the people who amended it, or the people who are now proponents of it.  Don’t listen to uneducated people you’ve never met who are trying to tell you this will hurt poor Americans.  Instead, when you read that garbage, just ask yourself this:  If this is true, who in the world would write such a bill and even more, who in the world would vote for it?  If the answer is enough people to voting for it to pass it into law, you can be sure it does not wield all the negative effects you’re reading about.  If it did, and these congressmen and senators voted for it, they would be sealing their own retirement after the next elections.

Common sense people.  Its just all about common sense.

Until next time, America, read carefully, think ruefully, love wholeheartedly, and always try to look past your hatred for the other side.  Maybe, just once in awhile, you’ll see that they have a good point, and that they really are trying to make America great again.

Good Night and God Bless you all.

Dorian Lassiter

Atlanta, Ga

December 1, 2017

 

Advertisements

4 Comments

  1. While I’m not a fan of the healthcare mandate, from what I’ve read on this new tax bill, it’s not going to benefit the middle or lower class, at least not in the long term. The cuts for the middle class are temporary while the cuts for corporations and the wealthy are permanent. The non-partisan CBO has also estimated that this plan will force deep cuts to Medicare over the next decade because of some arcane budget rule. And, the Joint Committee on Taxation said yesterday that the tax bill will add $1trillion to federal budget deficits over the next ten years, even after factoring in additional economic growth. This is at odds with Republican claims that that the $1.4 trillion tax overhaul would pay for itself through growth.

    I won’t argue that the deficit increased under President Obama (although I would against the Muslim label), I don’t think adding to it is going to help our country’s financial situation. This is just my humble opinion.

    -Kim

    Reply

  2. Hi Kim and thanks so much for weighing in.

    I’ve heard a lot of that too, and so I read up on it. I actually have a copy of the bill and have perused it several times with a couple of my best friends who have been CPAs for over 20 years. This part about the benefits being temporary are true. This is what the democrats demanded before they would endorse the bill. Basically, if the bill isn’t revisited and ratified with improvements within the next 6 years, the tax advantages will disappear.

    This just means it needs to be revisited, modified accordingly, and ratified within the next six years to prevent that from happening, which will absolutely occur. This is commonplace with many such legislative acts, so it tickles me every time someone tries to use a bill’s expiration date as an excuse to say it’s an evil or destructive piece of legislature. Those things just aren’t true. In fact, it’s most likely that modifications will be made in this and it will be ratified before the next presidential election, and possibly after the midterm elections next year.

    Who knows though, that’s just guessing. What I do know is that a lot of American families need this tax relief before they file this year or they are going to get blasted by the ACA (Obamacare) tax burden come return time. It’s not a complete fix, but it helps people now and gives lawmakers time to make it better. It also give the Pres time to get his budget through and get the deficit down substantially. Once he gets that passed, it will more than compensate for any additional debt if there is any after growth.

    Oh and I just wanted to add that the benefits for small businesses aren’t permanent either. They also need to be ratified. but the one thing I wanted to mention about that part of it is, it isn’t multibillion dollar businesses the new bill affects so much as small business. It assists with the deductions that pizzerias, hair salons and cafes can claim and INCREASES the tax burdens to companies who gross over 1 million per year. Then again, all of that needs to be revisited within the next six years or everything will revert and that would be ugly, so I can’t imagine any lawmaker allowing that to happen, it would be political suicide.

    Thanks again for weighing in, I hope we will continue in future posts
    ~Dorian

    Reply

  3. I don’t know Dorian. I guess we’ll just have see. I hope you’re right. I obviously haven’t read the full 500 page bill, plus all the illegible scribblings the Republicans added on at the last minute. From what I’ve read though, I don’t like it. Especially after reading some of the statements that the CBO came out with. I’m waiting for Trump to take over them next, Now that he’s successfully taken charge of the CFPB.

    I know I sound like a liberal Democrat, but I’m actually a resgistered Independent and I’ve voted for both Democrats and Republicans over the years. One thing I’ve discovered is that I pretty much despise both parties. Neither one of them seem to truly listen to their constituents. I believe that’s one of the main factors why Trump got in. Sadly, instead of draining the swamp, Washington has grown even murkier in the 316 days since Trump took the oath.

    Reply

Please Post a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s