What I'm talking about is the corporate tax cuts. Also the whole pass-through income, which was explained to me once, but I forget the understanding I had briefly obtained, and don't have the mental capacity to rethink it again right now.
I guess my point wasn't so much that the little guy gets a tax cut. My point is that his tax cuts are for everyone. It's not chroney-capitalism. Corps might benefit more, but all corps do, instead of just the monsters like Walmart. This round does more for corporations than the little guy, admittedly, but his over-all governing policy does MUCH more for the little guy than the big corps.
I believe he's going to do more for small farms than any administration has EVER done. I believe we're going to see a come-back for organic farmers, as well as traditional small farms. That is something I'm especially excited for. I think industrialized farming is bad for everyone.
Federal government will be unable to pay all bills sooner than expected, due to new tax law
With the opportunity to slash the corporate rate nearly in half, cries of “I won’t endorse a bill that adds one penny to the deficit!” evaporated, and tacking on $1.5 trillion became no big deal.
According to the nonpartisan Congressional Budget Office, the federal government will run out of money even sooner than expected, thanks to the new tax legislation, which is estimated to lead to a fall in revenue of $136 billion in 2018.
The U.S. government’s cash reserves are expected to run out faster than expected, the Congressional Budget Office said Wednesday, a result of lost revenue from last year’s tax cut law.
If the debt ceiling isn’t raised by the first half of March, CBO said, “the government would be unable to pay its obligations fully, and it would delay making payments for its activities, default on its debt obligations, or both.”
Federal government will be unable to pay all bills sooner than expected, due to new tax law - The Washington Post
that makes as much sense as the ice caps supposedly melting by 2015, and, you reference the very sources that continue to predict gloom and doom. the only Russian interference in the election was bought and paid for by the DNC. This incessant whining is simply noise of the people this misinformation is intended to confuse.
The tax cut is a $6 billion gift to Exxon
ExxonMobil scored a massive gain from the Republican tax overhaul.
Exxon said the federal tax law enacted by President Trump in December gave the company a non-cash earnings gain of $5.9 billion. That's because the corporate tax rate has been lowered from 35% to 21%. Like other companies, the reduced rate allowed Exxon to write down the amount of money it owed Uncle Sam in the future, known as deferred income taxes.
Exxon was not hurt by the part of the tax law that forced companies to bring foreign profits back to the United States. The company said it generally paid taxes on these overseas profits at around 35% anyway, allowing it to avoid a repatriation tax hit.
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