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Great job on your budget (or Ryan’s if it goes down); I am so impressed that you are willing to try that trickle down feint. Who would have thought that after the debt the U.S. incurred under Reagan and Bush with that scam that it would play again? I’ve been out of the country (so much easier to travel now if you have the money and no accent), so I had to depend on the scuttlebutt I picked up here and there.
That jerk up the road, the global warming looney, who reads that rag The New York Times told me that the paper on Friday said that many of the changes in the tax code would actually raise taxes on nearly 13 million people who earn $ 100,000 or less a year. Apparently the NY Times used open-source economics modeling software Tax Brain to come up with that theory. Facts! Who needs ’em? Not us. You and I don’t know what we don’t know and have the money to just say deal with it.
Like yourself I’m a product of legacy money and a laissez-faire approach to the rights of others. I applaud your landing with both feet on that group of “middle income-aspire-ers” by allowing no deductions on the loans some of them had to take out just to pay for their college and graduate education. Hey, you losers, next time choose the right father – money and a healthy respect for greed, am I right? And that part of the budget that limits mortgage interest loan deduction to $500,000…wow, that one will keep all those mid-level office workers, civil servants, nurses, and teachers out of the better neighborhoods where they work. Let them have a long commute: we can use the space and keep the neighborhoods safe from riff-raff.
I also like that this plan of yours (Ryan’s, if it fails) will nail those malingerers who whined about losing affordable health care. Under this tax plan of yours (or McConnell’s, if it fails) tax payers who have high out of pocket expenses for medical costs for themselves or their kids can no longer deduct such expenses. Who told them to breed, anyway? (Well maybe the Catholic Church, but even it doesn’t really care what becomes of those babies after they’re born.)
Oh, and I almost forgot. Newsweek apparently reported that there was a memo circulating around the Republican caucus that defines low and middle income taxpayers as including those who earn $450,000 a year. What a great idea to put the top .05% of taxpayers in the low and mid-income range. That way those poor suckers who are really low and middle income will fall for the whole scam. Brilliant!
Maybe the best part of the scam is that part about the corporate tax rate drop. We the rich, who can never get enough, will get a windfall any way it crumbles. We get the cut, and we keep it, our stocks go higher, we hold most of the stocks, we don’t increase pay (although the rubes who fall for this think we will), we keep the windfall, stuff it in our overseas accounts, and watch the others fight over half a loaf of bread. And, best yet, as Stephen M. Rosenthal, a tax lawyer and senior fellow at the Urban-Brookings Tax Policy Center, figured out, since 35% of the United States stocks are foreign-owned, about $70 billion a year of the tax bill, which will increase the national U.S. debt, will go to people in other countries.
Good job, Donny (or crap job, Paul Ryan and Mitch McConnell, if it fails).
Yours while the money keeps coming my way.