Opinion Living With the Republican Tax Plan

23:51  06 december  2017
23:51  06 december  2017 Source:   nytimes.com

Republican Senator Paul says he plans to vote for Senate tax bill

  Republican Senator Paul says he plans to vote for Senate tax bill <p>Republican Senator Rand Paul, a fiscal hawk who has sometimes opposed his party's spending plans, said on Monday he planned to vote for the U.S. Senate tax bill and urged his colleagues to do the same.</p>Paul, writing in a Fox News online opinion piece, said that while the bill was not perfect and he would "prefer a larger cut," he planned to support the measure because it achieved some of his goals, and he could push for more changes next year.

Opinion | Op-Ed Columnist. Living With the Republican Tax Plan . Another good thing is the child tax credit increase that Rubio and Lee did win, which is much too modest but still a step toward the family policy the United States needs.

House Republicans have introduced a proposal to dramatically rewrite the U.S. tax code, offering across-the-board cuts and eliminating various taxes and If you live in a high- tax state, you might be better off under the current system, since the plan would end the state and local tax deduction.

a man holding a wine glass: Senator Mitch McConnell, the majority leader, speaking to the media on Capitol Hill on Tuesday. © Al Drago for The New York Times Senator Mitch McConnell, the majority leader, speaking to the media on Capitol Hill on Tuesday.

Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

First, let me vent. The Republican tax reform, now extremely likely to become law pending certain events next week in Alabama, represents a remarkable missed opportunity for a party struggling through an identity crisis and a country reckoning with a social crisis.

After watching Trumpian populism overwhelm the dikes of ideology during the last primary campaign, Republican lawmakers could have learned something from the experience, and made the discontented working class voters who put Donald Trump in the White House the major beneficiaries of their tax reform.

Trump returns to Missouri to try to seal deal on tax plan

  Trump returns to Missouri to try to seal deal on tax plan President Donald Trump will return to Missouri on Wednesday as he tries to push the Republican tax plan across the finish line.&nbsp;Trump is expected to once again emphasize the plan's benefits for Main Street as he tries to sell the plan in the St. Louis suburbs. While the White House says the plan will be a boon to middle-income families, helping small business owners and workers, sparking economic growth and simplifying the tax code, critics say both House and Senate versions will disproportionately help the wealthy and corporations.

nytimes.com/2017/12/06/opinion/ republican - tax - plan .html. "The world is full of stupid and angry people, and most of them live in Portland". Chuck Todd: Isn't Trump sort of responsible for Samantha Bee's tone?

Paul Ryan says the tax reform plan will give people "relief". At a formal unveiling with American families standing behind lawmakers, the House speaker said that the typical family of four would save ,182 a year on their taxes under the Republican plan . For better or for worse: Living with Alzheimer's.

Sign up for the Morning Briefing newsletter

Instead, with Trump’s enthusiastic blessing, they devised a bill that was more solicitous of their donors than their voters, and that only modestly addressed the central socioeconomic challenge of our time — the nexus of wage stagnation, family breakdown and falling birthrates, which will eventually undo conservatism if conservatives cannot take it as seriously as they do the animal spirits of the investor class.

What’s particularly frustrating is that it didn’t have to be this way. The bill’s basic architecture is compatible with better policy, and there is no great mystery about how it could have been improved: All it needed was to shrink the business tax cuts somewhat and push the extra money directly into the paychecks of the working class. But when a version of that improvement was attempted, when Senators Marco Rubio and Mike Lee tried to use a small portion of the bill’s corporate tax cut to pay for family tax cuts, the Republican leadership decided to make the corporate cut nonnegotiable, the Democrats decided it was better not to improve a bill that they oppose, and the senators themselves declined to be the Bad Guys of their caucus in a good cause and simply swallowed their defeat.

Trump backs McCaskill opponent as he stumps for tax bill

  Trump backs McCaskill opponent as he stumps for tax bill President Donald Trump's visit Wednesday to Missouri to promote a GOP tax plan may be less about winning Democratic Sen. Claire McCaskill's support than boosting her opponent. Trump, who called on McCaskill to vote for the tax plan earlier this year, lent his support to Missouri Attorney General Josh Hawley's bid to unseat the vulnerable Democratic lawmaker, since McCaskill has refused to come on board.Trump recognized Hawley from the stage as he returned to Missouri to try to push the tax plan across the finish line.

NEW YORK, NY—New projections worked up by the New York Times in conjunction with liberal think tank Progress At All Costs suggest that the new Republican tax plan will kill up to 18 billion people out of the 7.4 billion people currently living on the planet.

Marco Rubio, R-Fla., on Friday over his support of the GOP's tax plan , lamenting the impact of the bill's child tax credit on unmarried people who "will die alone." Mike Lee, R-Utah, introduced an amendment to the Republican tax proposal that would incorporate a more generous child tax credit.

So the result leaves a reforming conservatism as the neglected stepchild of the G.O.P., granted table scraps while the donors get the feast. It leaves Republicans with ownership of a bill that is neither populist nor popular, and Trump with ownership of an economic agenda that a reasonable voter should consider a betrayal of his promises. And it wastes an opportunity to turbocharge the recovery, because the bill’s corporate beneficiaries are already sitting on ample cash reserves and it’s the middle-class taxpayers who would have been more likely to spend extra money if they got it.

However, to repeat something I’ve said a few times in the Trump era, when the venting is done it’s important to acknowledge that it could be worse. The bill is badly designed but it does some good things, including some things that could be done only in the teeth of Democratic opposition. Its flaws are significant but also manageable, and they aren’t going to tip America into the dystopian nightmare invoked by a certain kind of liberal Twitter hysteric this past week. And as is often the case with flawed proposals, the failings offer useful signposts to the opposition: The partial defeat of reform conservatism leaves good ideas lying around to be picked up, and Republican overreach creates opportunities for the Democrats to pursue them.

Trump triumphs after Senate passes what he calls 'biggest tax bill' in history

  Trump triumphs after Senate passes what he calls 'biggest tax bill' in history <p>President Donald Trump said the legislation was a step towards an overhaul of the U.S. tax system.</p>"Biggest Tax Bill and Tax Cuts in history just passed in the Senate," Trump tweeted. "Now these great Republicans will be going for final passage.

The Political Land Mine in the Republican Tax Plan . Many seniors are stuck with lives of never-ending work—a fate that could befall millions in the coming decades. CORONA, Calif.—Roberta Gordon never thought she’d still be alive at age 76.

The Republican tax plan proposal offers a lot of benefits for Americans who are able to adjust their work and lifestyles. This situation doesn’t effect me since I live overseas and don’t pay state income tax , only federal with the overseas discussion.

One good thing is that the bill’s stimulus, flawed as it is, still might give the economy a further short-term boost and undo more of the Great Recession’s damage. Another good thing is the child tax credit increase that Rubio and Lee did win, which is much too modest but still a step toward the family policy the United States needs. A third good thing is the bill’s willingness to raise taxes on the not-quite-rich upper-middle class, a constituency whose influence is often bad for the country and whose liberal drift and blue-state concentration has left Democrats leery of any confrontation.

Meanwhile, the thing that the bill’s centrist critics are most incensed about, the fiscal irresponsibility of cutting taxes without offsets, just doesn’t look like that big a deal in the context of continued low interest rates and bond market unconcern. Like many people I accepted the arguments of fiscal hawks in the early Obama years, but few-to-none of their predictions have come to pass. I don’t think Republicans have really learned from this experience and become less alarmist about deficits; they’re mostly just being opportunists and hypocrites. But the experience is still real, and the lesson that the deficit is not, in fact, our major near-term problem seems convincing.

Clinton: 'Horrible tax cut plan' will benefit Trump and the wealthy

  Clinton: 'Horrible tax cut plan' will benefit Trump and the wealthy Former Democratic presidential nominee Hillary Clinton ripped the recently passed Senate Republican tax plan on Saturday, calling it a "horrible tax cut plan.""This could not be a more blatant and insulting on hardworking Americans, and we can't let them get away with it," Clinton said, delivering the keynote address at the Teen Vogue Summit in Los Angeles. "This could not be a more blatant and insulting on hardworking Americans, and we can't let them get away with it," Clinton said, delivering the keynote address at the Teen Vogue Summit in Los Angeles.

The Latest: The Senate approved the Republican the tax bill, 51-48. See how each Senator voted with our live vote tracker. Clearing the final major hurdle for a decades-long goal, Republicans mustered enough support in the Senate to approve a sweeping tax plan .

We started this live blog on the GOP tax plan with no idea how many people would read it or when it would ever end. President Donald J. Trump holds up the signed Republican tax bill after signing it in the Oval Office of the White House.

Then there are the fixable problems. The bill’s repeal of the individual mandate will create additional challenges for the struggling Obamacare exchanges. But the mandate has never worked as its creators intended, it remains more unpopular than Obamacare as a whole, and it penalizes a narrow class of middle-class individual market buyers instead of spreading the burden of the system’s costs more widely. In the long run any universal health insurance system will be on a firmer political footing if it finds a way to work without requiring people to buy a product they don’t want.

The corporate tax cut, meanwhile, is too deep, but a lower corporate rate than the present one remains a good idea, and it’s not implausible to imagine these deep cuts being rolled back to a happy medium. Likewise, the bill’s budgetary legerdemain, which has the individual tax cuts expiring early and threatening a middle-class tax hike, sets up a plausible path to a negotiated settlement, in which Democrats who want to protect the middle class can seek a variation on the Obama-era deal that kept most of the Bush tax cuts in exchange for higher rates on the rich.

Or, should they be victorious in 2018 and 2020, Democrats can pursue broader ambitions, relying on this tax reform’s overreach for funding rather than simply engaging in deficit-busting of their own. “Repeal some of the Trump tax cuts to pay for Liberal Ambition X or Y!” will be a natural rallying cry for their party in 2020, and the fact that the Trump tax cuts are so tilted toward corporations and businessmen and wealthy heirs means that the cry will have much more political appeal than it might have otherwise.

Sen. Collins outlines deal making behind tax vote

  Sen. Collins outlines deal making behind tax vote Republican Senator Susan Collins on Sunday said she received numerous promises before she was able to cast her vote in favor of the Senate's tax bill."I got a commitment that we're going to pass two bills, including the Alexander-Murray bill, and one that I've authored that will help offset the individual mandate repeal by lowering premiums," she said on Sunday's "Meet The Press," referring to the bipartisan compromise negotiated this fall that's aimed at stabilizing the health insurance markets.

MarketWatch’s Robert Schroeder live -blogged the proceedings. See: The Trump tax calculator — will you pay more or less? While we wait for the Senate to come in, check out this economics professor’s analysis of the Republican plan and what it means for the budget deficit.

Ryan to mbrs: This is happening. Tax reform under Republican control of Washington is happening..Most critics out there didn’t think it could happen. — Chad Pergram (@ChadPergram) December 15, 2017. Update 6:38 P.M. Here’s the basics of what’s in the tax plan .

The question is what those liberal ambitions should be. The bipartisan (if insufficient) support for Rubio and Lee’s child tax credit amendment points to one possibility: Democrats could take up the work-and-family agenda that reform conservatism has fitfully advanced, making something like Senators Sherrod Brown and Michael Bennet’s child tax credit proposal or Representative Ro Khanna and Senator Brown’s bigger earned-income tax credit idea the centerpiece of their 2020 agenda.

The problem for the Democrats is that a lot of their activists’ hopes are invested with far inferior ideas, like the lure of free college and the political fantasy of single-payer.

But there is room here for liberalism to take advantage of the Trump Republicans’ retreat from populism, and to advance a left-wing version of the politics of work and family that the blinkered G.O.P. should champion but refuses to embrace. In which case this bill’s best elements could survive when the wheel of power turns, and its flaws and missed opportunities could still be good for the country in the end.

I invite you to follow me on Twitter (@DouthatNYT).

Follow The New York Times Opinion section on Facebook and Twitter (@NYTopinion), and sign up for the Opinion Today newsletter.

Nearly half of Americans still oppose Republican tax bill: Reuters/Ipsos poll .
<p>As Republicans in the U.S. Congress rush to finish their tax plan, the legislation is not getting more popular with the public, with nearly half of Americans still opposed to it, according to a Reuters/Ipsos opinion poll released on Monday.</p>Of adults who were aware of the plan being considered by Congress, 49 percent said they were opposed to it, a sentiment that has not changed much in the past few weeks, the poll showed.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!