The difference between temporary and permanent is significant. Just ask the last guy your wife dated before she married you.
In their latest tax cut proposal, Senate Republicans make tax cuts for businesses permanent while phasing out tax cuts for individuals by 2025. Senate Republicans put us regular taxpayers back on the hook to avoid hitting the 1.5-trillion-dollar ceiling on additional debt they’ve set for this plan.
Now we could just as easily respect that cap by temporizing some of the business cuts. Senator John Thune, ignores that prospect and says workers and other common folk should get the same permanent cuts as our corporate overlords only if Democrats cave for more debt:
Republicans countered that Democrats could vote with them to waive those anti-debt rules, and make the individual provisions permanent. That would take 60 votes on the Senate floor.
“We can make the individual side permanent — all it takes is a few Democrats to vote with us to do that,” Sen. John Thune (R-S.D.) said [Brian Faler, “New Senate Tax Plan Hands Ammunition to Democrats,” Politico, 2017.11.15].
Permanent tax cuts for businesses and temporary tax cuts for people make clear the priorities of John Thune and the Republican Party: corporate profits come before people.
Related: In June, Speaker Paul Ryan said tax cuts have to be permanent:
In a speech on Tuesday, the speaker delivered a warning to conservatives—including those in the White House—who would sacrifice a lasting overhaul of the tax code for the fleeting economic jolt, and the easier legislative victory, that a quick fix might bring. “These reforms, these tax cuts—they need to be permanent,” Ryan told a meeting of the National Association of Manufacturers. “Every expert agrees that temporary reforms will only have a negligible impact on wages and economic growth. Businesses need to have confidence that we won’t pull the rug out from under them. They need the certainty from permanent tax cuts to hire more workers, invest in their businesses, and plan for the future” [Russell Berman, “Paul Ryan Fights the Bush Legacy on Taxes,” The Atlantic, 2017.06.20].
Businesses need certainty; workers and families can live with doubt. Who needs permanence? Who needs wedding rings? Oh, wait….
You can’t trust GOP Partyists with money. They accuse Democrats about being tax and spend, but they want to borrow, borrow, borrow and spend. Now they want Democrats to go along with even bigger budget busting. These are the same people who shut down the government when Barrack Obama was President by refusing to increase the debt ceiling. Pretty clear they don’t care at all about the debt ceiling. This crew should enroll in a credit counseling class to learn how to manage finances. They may also need a 12 step program. Voters should give them another intervention in 2018.
History saw the same happenings in 476. Some call it the “Fall of the Roman Empire”, while others called it the “Dark Ages”. republicans and their complete lack of governing, are showing us that history can indeed repeat itself. After all, how can you expect republicans to govern when they all hate government and want to “drown it in a bathtub”. They just want the money.
Thune also said that the republican “gut, gut, gut” tax plan will increase wages.
For the life of me, I haven’t been able to figure that one out.
Sooooo, now the budget will be permanently not balanced. If the rich do not pay their fair share, it will collapse.
As Dick Cheney said, Deficits are for suckers, more or less.
Just saw Wisconsin Skippy on tv telling us that the “temporary” cuts will be permanent in the future. All we have to do is TRUST them right now. In the era of Trump, anyone want to take that to the bank, perhaps buy another vacation home with your new found wealth? Uh huh, thought so!
Wisconsin Republican politicians have honed this skill of being super-boy-scoutishly sincere as they lie with every movement of their mouth. Just like Trump, if Ryan says it, it’s likely not the truth. But unlike Trump, Ryan usually doesn’t have tells—“trust me” or “believe me.” He would usually say something like, “I understand your concern, but we have every intention of ….”, and then he will go into a long explanation, most of which has nothing to do with the issue at hand, as he looks up with wide eyes and long eyelashes. His tells, in other words, are that his lips are moving.
Roger- you have to believe selfish korporate amerika will lovingly hand out higher pay because they are generous, not greedy.
The problem with that is they have been making record profits for years and nothing has trickled down. Why start now? Wingnuts don’t care if we know they are full of it. They only worry that enough of their base will be convinced by naysayers and vote them out of office.
Debt ceilings are only to keep Democrats from doing Democrat things. ;-)
The Republicans would increase the standard deduction with these bills. But then…. they yank the money back. They eliminate deductions for mortgage interest, health expenses, state and local taxes etc. Thanks a lot guys.
Then, they give the Trump family up to a three billion dollar tax cut. Think of that. Billions for one family. The Koch heirs would get much more. They get a tax DECREASE of 30 billion. (thirty-thousand-million dollars!)
I was a Republican till recently and even I can’t believe it. Its whacko.
Paul Ryan yesterday said he learned that most Americans don’t have an extra $500 for an emergency. NPR 11.17.17. The tax reform will destroy them, the health care increases from INTENTIONAL GOP SABOTAGE and the tax reform inclusion of repeal of the ACA mandate, will destroy us.
Billionaires Kochs, Adelson, Warren Stephens and the lesser off shore tax avoiders like Geoff Palmer, Steve Wynn and Paul Singer and their complex off shore accounting /legal schemes, shower the GOP with campaign contributions.
Unless you are one of the 565 USA billionaires, you are going to get hurt by this president and the GOP. wiki
The president of Council on Foreign Relations, said Trump “claims to have established a new framework for trade in Asia when the reality is that the US has placed itself outside the best available framework for trade in the region….The country will pay an enormous economic, strategic price as a result,” Haass said. https://www.theguardian.com/us-news/2017/nov/15/trump-asia-trip-white-house-speech-america
the coup de grace: Donald Trump Jr.’s private Twitter correspondence with WikiLeaks adds significant detail to the emerging picture of a political alliance between the Trump campaign and Russia in 2016. It provides evidence of criminal violations of federal campaign-finance rules, which prohibit foreign spending in U.S. elections. https://www.theatlantic.com/politics/archive/2017/11/donald-trump-jrs-messages-with-wikileaks-point-to-campaign-finance-violations/545903/