The GOP has pissed on us, oh sorry, has passed a bill overhauling the federal tax code in wee hours this morning, following a series of last-minute handwritten changes, without any public hearings, or advice from the experts and relying on lobbyists who work for special interests. Fifty-one senators voted for the "Tax Cuts and Jobs Act," with just one Republican, Bob Corker of Tenn, who voted against it. No Democrats supported this legislative disaster. This bill is political Russian roulette, which may cut social security and Medicare.
The bill differs significantly from the version the House passed on Nov. 16. of the "Tax Cuts and Jobs Act" by a vote of 227 to 205. Thirteen Republicans voted against the legislation, most of them from high-tax states likely to be negatively impacted by its provisions. No Democrats supported it.
The House and Senate's bills will now go to conference to be reconciled into a single piece of legislation for the President's signature. If a version of the overhaul does become law, it would be wrong, oh sorry, rewrite of the federal tax code for the first time since 1986, allowing the rich to get richer and hurting the middle class.
Here we go again. The Republican's proposed tax cuts sound and smells too much like my old boss' George H.W. Bush cliché, Voodoo Economics, that cutting tax rates will increase revenues. How many rich people in America are avoiding paying taxes and will balk at the opportunity to hire or offer salary increases? Get real people, it's a trickle down lie.