“Republicans, who hold narrow majorities in the House of Representatives and Senate, have spent weeks trying to agree on a plan to cover the cost of extending the tax cuts – which nonpartisan analysts say could add another $4 trillion to the U.S.’s existing $36 trillion in debt over the next decade.”
“Measures included extending the 2017 cuts, eliminating taxes on tips, Social Security benefits and overtime pay, adjusting the federal deduction for state and local taxes, eliminating tax breaks for billionaire sports team owners, closing the carried interest tax loophole and cutting taxes on products made in America.”
Obviously, a lot of bad. Need someone else to explain to me how to feel about SALT deductions, but “eliminating tax breaks for billionaire sports team owners” and “closing the carried interest tax loophole” seem like surprising silver linings.
TheloniousMonk15 on
Whatever they come up with will be disastrous policy.
TheloniousMonk15 on
Nothing says lowering inflation like getting rid of taxes on tips/overtime and allowing previously implemented tax cuts to continue.
flatirony on
They already basically got rid of SALT deductions for most people. 😡
ExuberantSloth29 on
> No tax on tips and overtime
Oops no more revenue.
Oogaman00 on
At least we can save money eating out since no way I’m tipping 20 percent
LameBicycle on
Very interested in how the party of fiscal responsibility spins this one
7 Comments
“Republicans, who hold narrow majorities in the House of Representatives and Senate, have spent weeks trying to agree on a plan to cover the cost of extending the tax cuts – which nonpartisan analysts say could add another $4 trillion to the U.S.’s existing $36 trillion in debt over the next decade.”
“Measures included extending the 2017 cuts, eliminating taxes on tips, Social Security benefits and overtime pay, adjusting the federal deduction for state and local taxes, eliminating tax breaks for billionaire sports team owners, closing the carried interest tax loophole and cutting taxes on products made in America.”
Obviously, a lot of bad. Need someone else to explain to me how to feel about SALT deductions, but “eliminating tax breaks for billionaire sports team owners” and “closing the carried interest tax loophole” seem like surprising silver linings.
Whatever they come up with will be disastrous policy.
Nothing says lowering inflation like getting rid of taxes on tips/overtime and allowing previously implemented tax cuts to continue.
They already basically got rid of SALT deductions for most people. 😡
> No tax on tips and overtime
Oops no more revenue.
At least we can save money eating out since no way I’m tipping 20 percent
Very interested in how the party of fiscal responsibility spins this one