Not that anyone will notice

It still has to make it through the Senate, but this is progress: House Republicans pass tax reform bill.

House Republicans on Thursday passed a monumental bill to cut taxes on businesses and individuals, the biggest step yet in the GOP’s once-in-a-generation effort to overhaul the American tax system. . . .

The House plan would permanently chop the corporate tax rate to 20 percent from 35 percent and make other tweaks aiming to make businesses more competitive. It would reduce individual tax brackets to four from seven and make changes to several tax breaks. Among them, the bill would limit state and local deductions and the mortgage interest deduction, eliminate the personal exemption and nearly double the standard deduction.

On other matters of more interest to the media, if you were wondering about evidence and sexual harassment and what it looks like, here is an actual example. It’s sort of even more obvious than the DNA on Monica’s dress, and the woman was herself outraged: Senator Al Franken Kissed and Groped Me Without My Consent, And There’s Nothing Funny About It.

It doesn’t much matter since the media is not trying to remove Democrats from the Senate, only trying to prevent Trump-supporting Republicans from being elected, the same approach being taken by Congressional Republicans as well. There are many reasons that the Republicans got around to finally doing something on the Trump agenda, and their clear willingness to throw away a Republican Senate seat by not defending the person who actually won the primary in Alabama is a not insignificant part of it. Really, what are they good for?

Meanwhile, the American economy is going forward, growth is accelerating and employment picking up. But since these are natural phenomena that have no relationship to who is president nor what he does, we can concentrate on what really matters, such as the sexual practices of actors and politicians in Hollywood and DC.

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21 Responses to Not that anyone will notice

  1. C.L.

    Al Franken was being touted by the NYT a while ago as a viable presidential candidate.
    That was before the public knew he routinely molested sleeping women and told baby rape jokes.
    Bye-bye, Al.

  2. Zatara

    HYPOCRITE: Franken Said Betsy DeVos Made It Easier For Sexual Predators

    “Betsy DeVos’s decision to reverse guidelines on campus sexual assault threatens students’ civil rights. We must protect our students.”

    Yeah Al, protect them from you mate.

    HuffPo: “Making the case for a Al Franken-Kamela Harris 2020 Presidential Ticket”

    Al will be lucky to remain employed until his term expires in 2021. After that he can go back to being a crap comedian, but not on the taxpayer’s dime anymore.

  3. Norman Church

    We had a once in a generation opportunity to re-shape and re-size government when Rudd Version 2.0 was booted from office.

    Then Treasurer Hockey allowed himself to be talked by Treasury dirigistas into increasing taxes for that small and long-suffering portion of the public that actually make a net contribution to the nation’s finances. In so doing, the Diet Labor Party permanently validated the insane logic of the Left as to what constitutes ‘fairness’ for tax purposes.

    So, all power to the Republicans’ arm, I say. At least they understand the need for reform.

  4. .

    The House plan would permanently chop the corporate tax rate to 20 percent from 35 percent and make other tweaks aiming to make businesses more competitive. It would reduce individual tax brackets to four from seven and make changes to several tax breaks. Among them, the bill would limit state and local deductions and the mortgage interest deduction, eliminate the personal exemption and nearly double the standard deduction.

    Great stuff.

    It can help prevent something like the US mortgage crisis by lessening malinvestment in housing. Their economy will produce more capital goods. It will also pressure our government to lower the corporate tax rate.

  5. Tim Neilson

    Norman Church
    #2556228, posted on November 17, 2017 at 11:35 am

    Absolutely correct.

    Further, Hockey and Abbott decided that it would be a stroke of political genius to claim that they were delivering a “tough” budget even though it had more spending in it than Goose Swansteen’s last effort, thus validating the concept that refraining from massive unfunded spending increases equals “austerity”.

  6. JC

    It can help prevent something like the US mortgage crisis by lessening malinvestment in housing. Their economy will produce more capital goods. It will also pressure our government to lower the corporate tax rate.

    Does the interest deduction removal apply to existing mortgages or going ahead , if it applies to all existing mortgages it will impact the market – particularly the blue states where real estates values are the highest in the country.

  7. Bruce of Newcastle

    Democrats aren’t happy.

    Dems in House mock GOP lawmakers after tax bill vote

    House Republicans had started to clap after the bill received enough votes to pass when Democrats joined in and sang “na na na na hey hey hey goodbye.” House Democrats appear to be referring to the possibility that Republicans who voted for the bill will not be reelected due to their decisions.

    Dems obviously only know small words.

    And right on cue a RINO also isn’t happy.

    Sen. Ron Johnson Opposes Senate Tax Reform BIll

    Sen. Ron Johnson (R-WI) announced on Wednesday that he will oppose the Senate Republican tax plan. Sen. Johnson told the Wall Street Journal, “If they can pass it without me, let them. I’m not going to vote for this tax package.”

    This is a Republican who voted for Loretta Lynch and opposes Trump’s immigration controls. We’ll see if more tax luvvin’ RINOs come out of the woodwork. Na na na na hey hey hey goodbye guys.

  8. Zatara

    Does the interest deduction removal apply to existing mortgages or going ahead ,

    Yesterday’s version was that it applied to all above a certain amount. In other words it limited the deduction but didn’t remove it for the little guys.

    Not sure what they finally passed.

  9. Alex Davidson

    Senator Al Franken Kissed and Groped Me Without My Consent

    I’m not sure what to make of all this outrage over consent. I get very outraged by the way the government plunders me without my consent, yet the media don’t seem interested. I also get pretty outraged when my local council demands I obtain their consent when I want to carry out improvements to my own property. Yet again, even though this is a complete perversion of an owner’s right to consent, neither the media nor the twitterati seem particularly interested. I wonder why?

  10. Re the tax plan.
    Let’s not be naive. There will be no tax plans under this congress. They will oppose most things Trump is trying to achieve and they’ve done so thus far. NO SUBSTANTIVE LEGISLATION TO DATE.

    The playbook should be well known to everybody by now.
    Trump demands something.
    The house Uniparty members agree.
    They draw up a plan after much agonizing.
    A senator says he’s got a much better plan
    The two plans are debated back n forth to waste time.
    Finally, both plans are ditched with much “sorry we really tried but….”
    Nothing gets done.

  11. mh

    Baa Humbug I believe is correct. The People’s President is up against the Establishment – they want Trump gone.

  12. Zatara

    So far during the Trump administration the lower house has passed 208 bills and sent them to the Senate where never-Trumper Senate Majority Leader Mitch McConnell is sitting on them. He won’t even allow them to come on the floor to be debated.

    The House is getting some things done, the Senate is a black hole where bills go to die

  13. iampeter

    Cutting taxes without cutting government means that they will just print or borrow the difference, which makes it even worse than not cutting taxes and leaving things as is.
    Printing and borrowing will create more and far reaching incorrect market signals than a tax – I know you know this Steve!

    Cutting taxes is only a good thing if government departments and programs are cut first.

    All this tax “reform” represents is more of the same pretending to be for limited government rather than actually being for limited government that we get from Conservatives these days, which will cause more problems in the long run, not less.

  14. Combine Dave

    iampeter
    #2556452, posted on November 17, 2017 at 3:14 pm
    Cutting taxes without cutting government means that they will just print or borrow the difference, which makes it even worse

    That’s a childish and meaningless distinction.

    What benefit is it to the conservative side of politics to pay off the debt only for the Left to come back in and jam the budget heavily into the red again?

    It’s better to cut and cut taxes so the left are deprived of their much needed largess and are forced either to raise taxes (an unpopular prospect) or borrow heavily, bankrupting the country and leading to the voters ejected them from power again.

    Win win.

  15. Combine Dave

    The playbook should be well known to everybody by now.
    Trump demands something.
    The house Uniparty members agree.
    They draw up a plan after much agonizing.
    A senator says he’s got a much better plan
    The two plans are debated back n forth to waste time.
    Finally, both plans are ditched with much “sorry we really tried but….”
    Nothing gets done
    .

    Sounds like good government.

  16. Louis

    I think once this movement has been thoroughly used to settle some scores it will be used to justify a new push for female quotas. You know…in the highly paid or powerful positions. No one’s going to be enforcing quotas in the plumbers trade anytime in the future.

  17. André M

    President Donald Trump’s two adult sons are avid trophy hunters.
    A photo of Donald Trump Jr holding a knife and the bloody severed tail of an elephant he reportedly killed in Zimbabwe in 2011 sparked outrage among animal rights activists.

    The Trump administration is set to allow the importation of body parts from African elephants shot for sport, contending that encouraging wealthy big-game hunters to kill them will aid the vulnerable species.

    Make Trump’s Family Great Again?

  18. .

    Peter.

    Starve the beast. You are right, but cutting tax is a constraint; as long as the MP is also constrained.

    Remember the Mundell-Fleming (and someone else) BOP model?

  19. .

    What combine dave said is the serious argument against the flippant argument that the right should not cut spending of the left. Make every increase in tax, spending, inflationary MP or regulation be visible, costly and painful.

  20. iampeter

    Starve the beast. You are right, but cutting tax is a constraint; as long as the MP is also constrained.

    Yea I know that’s the theory but simply doesn’t work in practice. They will just print or borrow the difference, so unless government is actually cut, not only will cutting taxes not change anything but it will actually make things worse as printing the difference will create even more market distortions and lead to even more economic loss.

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