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Showing posts with the label Tax reform

The Bill of Love

Immigration reform, again, was the big news story today. President Trump met with Republicans and Democrats to discuss a solution for 700,000 people that might face deportation if Congress does not fix DACA. The meeting was streamed online as if it were a reality show. Don’t we already have C-SPAN? The topic of Immigration always comes up when no other political issues need to be solved. This time a fix to DACA might be tied to a bill to avoid a government shutdown. Immigration has not be a political issue alone. The issue is raised before election for the House or the Senate or before the Presidential election. The issue is raised to either get votes from those who support immigration or to get votes from those that do not support immigration. Politicians will first take a side depending on the votes that they need. Politicians do not put the people affect by immigration reform or DACA.   Now the issue is upfront for the next 10 days. It is an issue because of a government ...

Tax Reform Christmas Gift?

The house and senate passed this historic tax reform, just in time for Christmas. Nice to have a gift from the Government.   Now on the Republican side the selling points focus on the middle class. For people who make less than $25,000 will see an average tax cut of $60. Those who earn between $49,000 and $86,000 will get about $900. Those in the top 1 percent of income — earning more than $733,000 — will receive around $51,000 in tax savings, the policy center said. Many Democrats focus on how Corporations benefit from this tax reform. The tax package provides a deep cut in the corporate rate, from 35 percent to 21 percent. On the individual side, about 80 percent of American households will get tax cuts next year, while about 5 percent will pay more, according to the nonpartisan Tax Policy Center. Now the tax breaks for people are not permanent, they are for corporations. By the way, over the next 10 years, it is estimated that this legislation will add $1.4 ...