Tax Bill (aka Reconciliation Bill) Preview Released Friday

[heathrowinneo]

The US has a revenue AND tax problem. We do not tax appropriately or collect enough taxes from all sources. Rates have been reduced but spending is maintained and in some instances increased. The Moody's downgrade is a reaction that investors will move their money elsewhere. Or, as evidenced by the bond activity recently, rates will go up to keep investors interested in US debt. 10 year bonds are at 4.52% and 30 years topped 5% this morning. Inflation will work its way into the system thanks in part to US downgrade. Tariffs will also contribute with an additional xxx% (fill in the blank based on trump's mood or some chatgpt suggestion navarro will search for). The amount of tariffs collected will be nowhere near the amount required to help increase revenue. The people that will suffer will be the consumers, middle and lower class, in addition to the state and local tax increases to fill local coffers due to reduced federal transfers.

 

[BabyBoomer50s]

Military spending is roughly equal to all other discretionary spending combined.

I notice you say nothing about healthcare spending, other than some kind of cap on Medicare. Why are MAGAs so reluctant to adopt the much cheaper healthcare systems used in other developed nations, which also get better outcomes and cover everyone?

62% of federal spending is mandatory, so yes, defense represents about half of the discretionary 38%.

I don’t support more taxes. A national single payer system would require more taxes. I don’t support that. I prefer freedom of choice in what type of coverage I buy.

 

[BabyBoomer50s]

The US has a revenue AND tax problem. We do not tax appropriately or collect enough taxes from all sources. Rates have been reduced but spending is maintained and in some instances increased. The Moody's downgrade is a reaction that investors will move their money elsewhere. Or, as evidenced by the bond activity recently, rates will go up to keep investors interested in US debt. 10 year bonds are at 4.52% and 30 years topped 5% this morning. Inflation will work its way into the system thanks in part to US downgrade. Tariffs will also contribute with an additional xxx% (fill in the blank based on trump's mood or some chatgpt suggestion navarro will search for). The amount of tariffs collected will be nowhere near the amount required to help increase revenue. The people that will suffer will be the consumers, middle and lower class, in addition to the state and local tax increases to fill local coffers due to reduced federal transfers.

Tax receipts as a percentage of GDP has been consistently been about 17% since the 60s. Spending has grown as a percentage of GDP.

 

[BabyBoomer50s]

You're a fucking idiot.

Another deep thought from DA. lol.

 

[DeluxAuto]

Another deep thought from DA. lol.

It was easy to point out where your opinion is wrong with the quickness.

Your guy is an economic illiterate. Agreeing with him makes you all idiot too.

 

[RobDownSouth]

A national single payer system would require more taxes

Every other first-world country seems to be able to handle this.
Your lack of faith in the United States is disheartening.

(this is your cue for you and your elk to reflexively splutter about Britain's NHS, as if it was the only other single payer system in the world, because you are unable/unwilling to recognize the difference between the various forms of single payer).

 

[BabyBoomer50s]

Every other first-world country seems to be able to handle this.
Your lack of faith in the United States is disheartening.

(this is your cue for you and your elk to reflexively splutter about Britain's NHS, as if it was the only other single payer system in the world, because you are unable/unwilling to recognize the difference between the various forms of single payer).

Single payer healthcare is not on the table. Any kind of system of that kind would require new taxes. Americans didn’t vote for new taxes. They voted for the candidate that promised to extend his 2017 tax cuts and cut taxes further.

 

[DeluxAuto]

Single payer healthcare is not on the table. Any kind of system of that kind would require new taxes. Americans didn’t vote for new taxes. They voted for the candidate that promised to extend his 2017 tax cuts and cut taxes further.

How are those campaign promises working out for you MAGAts?

 

[BabyBoomer50s]

How are those campaign promises working out for you MAGAts?

Great but we need to extend the current tax rates for individuals. It will suck if Congress fails to act.

 

[DeluxAuto]

Great but we need to extend the current tax rates for individuals. It will suck if Congress fails to act.

Great? Of course they are. Bless your little heart.

 

[MajorRewrite]

A national single payer system would require more taxes.

Not necessarily. The US government already spends about the same per capita on healthcare as European countries, but most of us get nothing for it. The European countries get coverage for everyone.

That’s the problem with a healthcare system designed to pry the maximum amount of money from people rather than focusing on care.

 

[BabyBoomer50s]

Great? Of course they are. Bless your little heart.

Blessings.

 

[ll74]

If you don't want a "tax hike" then don't make the tax cut temporary.

The Republicans made their own issue and now are blaming others for it

 

[Politruk]

The US has a revenue AND tax problem. We do not tax appropriately or collect enough taxes from all sources.

When Perot ran for president, his message was that the only way to get a handle on the national debt was to raise taxes and cut spending at the same time.

Nobody wanted to hear that.

 

[Politruk]

Senate Republicans want to break up House’s Trump bill into bite-size pieces

Senate Republicans say the House-drafted bill to enact President Trump’s legislative agenda has “problems” and are taking a second look at breaking it up into smaller pieces in hopes of getting the president’s less controversial priorities enacted into law before the fall.

Even if Speaker Mike Johnson (R-La.) manages to squeak Trump’s agenda through the House, it faces major obstacles in the Senate, where moderate Republicans say they oppose proposed cuts to Medicaid and fiscal conservatives say it doesn’t go nearly far enough in cutting the deficit.


“There are still a lot of problems,” said one Republican senator who requested anonymity to discuss internal Senate GOP discussions on the budget reconciliation bill.

The source said that while proposed cuts in Medicaid spending face stiff opposition in the Senate, GOP negotiators have yet to make much headway on reforms to the Supplemental Nutrition Assistance Program (SNAP), which conservatives are targeting for cuts.

 

[icanhelp1]

Single payer healthcare is not on the table. Any kind of system of that kind would require new taxes. Americans didn’t vote for new taxes. They voted for the candidate that promised to extend his 2017 tax cuts and cut taxes further.

A single payer (NHS) system will with certainty cause a migration of healthcare professional out of healthcare and into other careers. Unless we the people finance medical college.

 

[Politruk]

A single payer (NHS) system will with certainty cause a migration of healthcare professional out of healthcare and into other careers. Unless we the people finance medical college.

It hasn't done that in the UK or Canada, or any other country that has UHC, has it?

 

[HisArpy]

A single payer (NHS) system will with certainty cause a migration of healthcare professional out of healthcare and into other careers. Unless we the people finance medical college.

The only thing single payer healthcare will create is an exodus in the insurance industry.

With the resulting rise in unemployment and falling of the healthcare/pharma stock market.

It's really a stupid idea.

 

[Politruk]

The only thing single payer healthcare will create is an exodus in the insurance industry.

It will kill off the health-insurance industry, as it should.

If you do health-care reform and the insurance companies are still in business, that is how you know you did not do it right.

 

[MajorRewrite]

The only thing single payer healthcare will create is an exodus in the insurance industry.

With the resulting rise in unemployment and falling of the healthcare/pharma stock market.

It's really a stupid idea.

Every other developed nation has a healthcare system that’s cheaper and more effective than ours.

It’s a really smart idea to emulate things that work.

 

[HisArpy]

It will kill off the health-insurance industry, as it should.

If you do health-care reform and the insurance companies are still in business, that is how you know you did not do it right.

You should start a thread on this and see where it goes and what it gets you.

I'm betting you won't because you already know and you're too much a coward to let everyone else know what your brand of politics is all about right up front.

 

[HisArpy]

Every other developed nation has a healthcare system that’s cheaper and more effective than ours.

It’s a really smart idea to emulate things that work.

Oh ya. That's why they come HERE when their healthcare fails them.

Stop being a stupid fool for once in your entire dam life.

 

[Politruk]

You should start a thread on this and see where it goes and what it gets you.

I'm betting you won't because you already know and you're too much a coward to let everyone else know what your brand of politics is all about right up front.

The relevant brand of politics here is social democracy --- which works better than anything else that has yet been tried anywhere.

 

[Politruk]

Oh ya. That's why they come HERE when their healthcare fails them.

Stop being a stupid fool for once in your entire dam life.

You will never meet a Canadian who wants to scrap single-payer health care. Not even the Conservatives want that.

 

[RobDownSouth]

Oh ya. That's why they come HERE when their healthcare fails them.

Stop being a stupid fool for once in your entire dam life.

Yep, if you have the money, they sky's the limit for health care options here in the USA.
For the poor?
Not so much.

Take you and Bobo for example. Both of you one step above poverty, scratching out your miserable existences on part time hours and the charity of others, fully dependent upon the socialized medicine of the Veterans Administration....and now Bobo can no longer get VA mental health care, while the VA refuses to fix your rapidly degenerating spine.

But hey, as Lee Greenwood sez, "Ahm proud to be un American, whar at least ah know ah'm freeee"