Senate Dems propose tax cut rollback to pay for infrastructure - Politics and Economics

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Senate Dems propose tax cut rollback to pay for infrastructure

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03-10-2018 , 01:33 PM

JimHammer

Digg'n the gifs

Join Date: Apr 2005 Posts: 8,742

https://www.democrats.senate.gov/imo...ure%20Plan.pdf

http://thehill.com/policy/finance/37...infrastructure

Quote:

Senate Democrats on Wednesday proposed undoing some of the tax cuts in the law President Trump signed in December in order to pay for a $1 trillion infrastructure plan.

“Rather than cutting existing infrastructure projects to pay for a paltry program, we want to roll back the Republican tax giveaways to big corporations and the wealthy and invest that money instead in job-creating infrastructure,” Senate Minority Leader Charles Schumer (D-N.Y.) said at a news conference.

Democrats have been talking in recent weeks about their desire to repeal parts of the new tax law that benefit wealthy individuals and corporations if they take back control of Congress. The plan announced Wednesday provides details about what changes Democrats would make to the law.

Senate Democrats are proposing reinstating a top individual tax rate of 39.6 percent, which was lowered to 37 percent under the new law. They also say they want to increase the corporate tax rate from 21 percent under the new law to 25 percent. The corporate tax rate under the old code was 35 percent.

03-10-2018 , 01:36 PM

JimHammer

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Join Date: Apr 2005 Posts: 8,742

I like the plan, but I can't imagine this helping them win in the midterms. Messaging is important and a lot of voters are only going to see "tax increase".

03-10-2018 , 02:10 PM

AllTheCheese

Carpal \'Tunnel

Join Date: Nov 2007 Posts: 11,898

It may or may not help, but it certainly won't hurt. This is good messaging imo. Most people for the first few years of the tax plan will get a tax break. If the Dems want to challenge the GOP plan at all, it is not enough to say (the truth) that this is a giveaway to the rich and you're getting crumbs by comparison, because people will say "it's not crumbs to me" or that they like their crumbs. This sets up an alternative where there is no downside to the middle class - in fact there is an upside, but I understand it's difficult to convince some people that taxes actually pay for things.

That said, I think JimHammer you're buying into the mistaken view that Americans as a whole are economically conservative or libertarian. Higher taxes on the rich polls very well.

03-10-2018 , 02:33 PM

JimHammer

Digg'n the gifs

Join Date: Apr 2005 Posts: 8,742

Quote:

Originally Posted by AllTheCheese

It may or may not help, but it certainly won't hurt. This is good messaging imo. Most people for the first few years of the tax plan will get a tax break. If the Dems want to challenge the GOP plan at all, it is not enough to say (the truth) that this is a giveaway to the rich and you're getting crumbs by comparison, because people will say "it's not crumbs to me" or that they like their crumbs. This sets up an alternative where there is no downside to the middle class - in fact there is an upside, but I understand it's difficult to convince some people that taxes actually pay for things.

That said, I think JimHammer you're buying into the mistaken view that Americans as a whole are economically conservative or libertarian. Higher taxes on the rich polls very well.

I'm making no assumptions about what people's economic views are.

I think come election time, Republicans are going to be pounding the narrative that Democrats want to raise their taxes. Democrat candidates will have to be prepared to counter that with explanations to what the money is for and that it's only increasing taxes on the wealthy to pre-2017 levels.

03-10-2018 , 02:38 PM

chezlaw

Limey Bastard

Join Date: Jan 2004 Posts: 46,878

Messaging matters but is secondary to straightforwardly good and necessary policy which this is.

It's so much easier to sell good stuff like this than selling 'not quite as bad as the other lot'

03-10-2018 , 03:29 PM

stinkubus

Pooh-Bah

Join Date: Jan 2012 Posts: 4,422

Quote:

Originally Posted by AllTheCheese

This sets up an alternative where there is no downside to the middle class - in fact there is an upside, but I understand it's difficult to convince some people that taxes actually pay for things.

When your world view informs you that all the good things in your life are gifts from God then they cease to be goods and services which must be paid for.

03-14-2018 , 10:20 AM

BigRedChief

centurion

Join Date: Oct 2016 Posts: 182

Quote:

Originally Posted by JimHammer

I like the plan, but I can't imagine this helping them win in the midterms. Messaging is important and a lot of voters are only going to see "tax increase".

Just take Obama's tax level of $250K and raise it to $1 million.

Roll back everything to pre-Trump levels except for individuals making <$1 million get to keep their tax cuts. Thats more than 90% of America.

03-14-2018 , 03:35 PM

AllTheCheese

Carpal \'Tunnel

Join Date: Nov 2007 Posts: 11,898

lol man, wtf, are you filthy rich? Less than 1 million is more than 99.8% of America. I'll take a hard pass on cutting taxes for on individual income between 250k and 1 million.

Last edited by AllTheCheese; 03-14-2018 at 03:41 PM.

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