Buried in the Washington Post’s letter section is this reasonable little missive:
I calculated the impact of the Republican Senate and House tax “reform” bills based on my 2016 income tax return and found that my wife’s and my tax liability would rise by 26 percent for 2017 over last year based on the elimination of the personal exemption and the state and local income tax deduction. Eliminating these deductions would increase our taxable income by $20,000. Our tax liability would rise by $5,300. We are in the 25 percent tax bracket. Paying one’s taxes is a cost of living, just as corporate taxes are part of the cost of doing business. With the personal-income-tax increase, our cost of living would rise, so we would adjust our life budget to compensate for the increased expense.
Damon Greer of Bethesda took the time to open his calculator app and do the math. Millions of Americans can’t take that time because they’re working at jobs that won’t give the time. In a few years as their corporate overlords laugh at all the drivel about “reinvesting in jobs” twaddle repeated by Paul Ryan and the GOP Senate, Damon Greer of Bethseda will give more of his money to the federal government so that those corporate overlords can keep their tax cuts.
While the failure to repeal the Affordable Care Act surprised me, the horror of the tax bill for which the Senate is prepared to vote and whose version will get reconciled with the House’s doesn’t, in this sense: this was the horrific legislation I had in mind as a result of the 2016 election results. Donald J. Trump would sign any bill that Ryan McConnell hand him. Remember the brave, uncompromising Susan Collins, Lisa Murkowski, Ron Johnson, and John McCain? They surrendered, and it wasn’t easy. Collins’s reasons for support are particulary moronic:
She also said that Mr. Trump was supportive of backing legislation to help stabilize health insurance markets under the Affordable Care Act, which she said would help mitigate the effects of ending the law’s requirement that most people have insurance, as the tax bill would do.
How Collins think the market will get “stabilized” when the individual “buy-in” is gutted is a problem I hope she and Jessica Fletcher of Cabot Cove, Maine solve together over sherry and biscuits. To quote VOX, the bill creates a health insurance crisis it has no idea how to solve.
But the GOP, no matter the degree to which Trump represents the culmination of Reaganism, renounced Trump until he won the Electoral College, therefore it owes his voters nothing. The tax bill satisfies the donors who pay for those expensive Senate races (note the mention of the Koch frères in the NYT story above).