I have and it's so disappointing I had looked forward to the simpler, easier tax filing promised by President Donald Trump's tax cuts
. Take the increased standard deduction and forget all that work to compile medical and dental expenses, taxes paid interest paid charitable contributions, and so on.
In describing the GOP tax cuts
, House Minority Leader Nancy Pelosi said that they and bonuses American workers were getting were "crumbs." They were "tax cuts
for the rich." Some argued that the tax cuts
would reduce revenues.
JOHN McDonnell stunned his party yesterday by backing the tax cuts
for high earners announced in the Tories' Budget.
U.S Secretary of Agriculture, Sonny Perdue has explained the positive impacts of President Donald Trump's Tax Cuts
and Jobs Act (TCJA) on American farmers.
Treasury Secretary STEVEN MNUCHIN claimed "there will be no absolute tax cut
for the upper class." In fact, the top 5 percent of taxpayers get more than 40 percent of the benefits of this year's income tax cuts
Since the Reagan administration, the Republican Party has been enraptured by what the first President Bush called "voodoo economics"--the "theory" that tax cuts
pay for themselves by boosting economic growth and tax receipts.
After the GOP tax plan passed in the senate on Tuesday, President Donald Trump tweeted out calling it the "biggest in history Tax Cuts
and Reform Bill." But as it turns out, the GOP tax plan does not even account for the biggest tax cut in the last five years.
The ongoing debate over tax cuts
has been framed, as it always is, in stark terms: Either we stimulate the economy by cutting taxes--leading to a rise in deficits and debts--or we raise taxes to pay the ever-higher cost of government.
Synopsis: Most Democrats and independents don't think the proposed tax cuts
would help the U.S.
WASHINGTON, Dec 2 (KUNA) -- US Senate Republicans have passed a USD 1.5 trillion tax bill known as the "Tax Cuts
and Jobs Act" where the bill was passed 51 to 49.
If congressional Republicans and the Trump administration end up keeping the state and local tax deduction, their tax cuts
will add $3.8 trillion to the public debt over the next decade.