Why are Dems opposing tax reform so much?

Why are Dems opposing tax reform so much?

Virtue signalling for upcoming elections

They like loosing

because MUH 1%

Because of the gigantic budget deficit.

Why do republicans hate a balanced budget?

>MFW they don't know how anti Semitic opposing the 1% is

Because they need your money to fund THEIR programs. Hand over the dough, user. This is a robbery.

Current tax reform raises tax on poor. Doesn't help middle class. Greatly increases the deficit. Greatly increases wealth inequality. Abolishes the estate tax, one of the most popular forms of taxation. Doesn't close corporate tax loop-holes.

Because this tax bill helps no one but rich people. Has anyone hating on the left for hating this bill actually read it?

They are too dumb to understand that the point isn't to give the average person a tax break--taxes are designed to rise relative to inflation so that the government can cut them every once in a while. Otherwise they'd have to raise taxes sometimes and people would go apeshit. This is just maintenance, not a true break.

Gtfo poor nigger

>THEIR programs
Yeah because social security and Medicare benefit leftists the most.

Estate tax should only apply to millionaires. Fuck your statism. God damn socialist punk. fokof

Let's pass it and see.

It'll kill 250,000 jobs down here

k, kept meming. Don't come back to Sup Forums in a couple of years bitching about how your taxes went up.

Democrats love taxing brothas into oblivion
Smdh

There is some truth that tax cuts benefit the wealthy. Everyone can do math, however, people don't think being fair is equal and being equal is fair.

So for instance a common libertarian tax solution is a flat tax. However, a flat tax hurts the poor way more than a middle or rich income earner.


A budget in spending doesn't matter, or let me rephrase that, Politicians don't care about a national 20 trillion debt, because people at the individual level won't take care of themselves and now as a consequence, live off the government.

People at the individual level don't save money to retire, to purchase something, or save for an emergency.

So the government taxes, and guarantees Student loans, Social Security Benefits, and refuses to help in the 1 trillion dollar Credit Card debt.

People don't live within their means, so why should the government?

Leading to a terrible budget, where taxed income doesn't matter at all, just a way to inconvience workers and employers.


Helps the rich, since poor people are either too stupid to save and deposit into retirement fund, or they make money but spend it on the newest X, Y, Z debt and stay broke.


"Little man can't get ahead" America is a place that 80% of millionaires are SELF MADE (1st Generation)! People don't care. Entitlement spending goes up, and people get in a frenzy since the government under Trump is running an effiency plan of attack.

It's not going to end well for years, better start saving money now, in order to buy a shit load of shares when the market crashes due to economic loss like failing to pay retirements and loans.

they should cut taxes for less than 1 million and rise to the rest (including corporate)
also cut military spending in half

It does, it applies after $5.49 million dollars.

I disagree. They should make it a flat federal tax rate across the board, for every income level, every business, no exemptions or deductions of any kind.
Taxes shouldn't automatically come out of your paycheck. Taxes should be sent to you like every other bill you have to pay. No tax "return" would need to be filed ever again.

>Overpay in taxes
>Give Uncle Sam an interest free loan

reforming taxes forces the re-evaluation of discretionary spending, ie cutting gibs
the long-term democrat strategy was to progressively pass more and more gibs on the assumption that they would be too hard to repeal
more gibs, more people dependent on democrats, more votes

why not a flat tax on purchased goods and axe the income tax altogether?

the rich buying a multimillion house and 10 cars would pay more for living expensive, while the poor sob eating leftovers keeps more of his paycheck annually.

the average person is not going to save 30% of their income to pay their tax bill

It's bullshit, by the time you get your money back, it's worth 2.5% less than when you earned it.

Purchased goods taxes are too complicated. What if you buy something from overseas?

The tax rate would be way less than 30%. Either way, the average person saves enough money to pay rent/ mortgage which exceeds 30% in most cases.

because the tax bill will likely cause property values to go down in blue cities and the whole "blue economy" is based on property bubbles. we see the same pattern with left-liberals in Canada, Australia, etc.

>Current tax reform raises tax on poor.
It very much does, it increased the standard deduction and has increased child deductions
>Doesn't help middle class.
Same reason it helps poor people
>Greatly increases the deficit.
We'll see about that, most estimates put us well below a laffer curve which means long term it would actually increase tax revenue
>Greatly increases wealth inequality. Abolishes the estate tax, one of the most popular forms of taxation. Doesn't close corporate tax loop-holes.
That's not wealth inequality, that's wealth inequity and that's ok, some people do work that makes them more money and you should live with that. It closes a lot of loopholes with shifting money between different currencies(actually taxes bitcoin transfers, surprised no one is worried about this of all things).

The CBO scored the tax plan using Obamas abysmal 1.5% GDP growth. Trump is already at 3.3+%. You will see revenue from taxes increase to a budget surplus

This is a COMPLETE lie. The EITC is not decreased at all. The child tax credit is INCREASED to $2000, of which $1400 is FULLY REFUNDABLE. That means you get EXTRA FREE GIBS even on this plan if you already don't pay tax because you're so poor and have kids. It's not a tax hike at all

it's unreasonable to assume 3% growth will continue for a decade

>Muh tax hike on poor LIE

Here's the example for a SINGLE MOM making only $25,000 in California with TWO KIDS.

LOOK AT HOW MUCH EXTRA GIBS SHE GETS.

This tax cut shit is fucking stupid anyway. The easiest way to improve life for most Americans is to move negative financial positions off our books, as in, deport Latinos. Deport Latinos, change the zoning laws that ban more housing from being built, cut the corporate tax to zero, and abolish various racial hiring laws and the economy will literally grow at 5%