Friday, December 22, 2017

Some Things To Think About

  1. The bonuses that the Republicans are touting were announced back in the fall and have nothing to do with the tax bill.
  2. The last time the corporate taxes were cut businesses bought back their own stock and a recent survey by the Yale reported that the majority of companies are going to do the same thing.
  3. Less than half of the people in the U.S. are saving for retirement and the majority of those saving for retirement have less than $200,000 in savings which means the stock market increase will have no effect on their savings.
  4. There is a law that the Republicans keep forgetting… which is the Law of Supply and Demand. The Tax Foundation estimates an average savings of $593.84 which will not drive the economy.
  5. The tax bill will create a huge bill for the next generation. Over the next ten years the deficit is expected to by $1.5 trillion! So much for financial responsibility.  
  6. The repeal of the Affordable Care Act's individual mandate will drive up insurance premiums because without the mandate younger, healthier people into the risk pool will drive up the costs of insurance. There are some estimates that the rise in premiums will be more than the tax savings.
  7. If Trump doesn't sign the tax bill this year it is because they want to avoid the automatic cuts of the so-called PAYGO law, that forces automatic cuts to Medicare and other spending categories. [Update 12:15  He just signed the bill, so that means that the Republicans are going to have to make cuts in 2018]
  8. Buried in the tax bill is a provision that makes fetus “unborn persons.” Why? It is to ban abortions because by defining a person as a fertilized egg it will make all abortion murders.


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