Tuesday, Jan 23, 2018
 
search SGN
SERVING SEATTLE AND THE PACIFIC NORTHWEST FOR 43 YEARS!

click to visit advertiser's website


Javascript DHTML Drop Down Menu Powered by dhtml-menu-builder.com

Last Weeks Edition
   
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
 
 
 
 
 
 
 
 
 
 




 

 
 

 

 

[Valid RSS]

click to go to advertisers website
to Section One | to Arts & Entertainment
posted Friday, December 22, 2017 - Volume 45 Issue 51
Trump tax bill: What's in it for us?
Section One
ALL STORIES
  next story
Trump tax bill: What's in it for us?

by Mike Andrew - SGN Staff Writer

What's in the new Trump tax plan for the LGBT community? Absolutely nothing, unless you're very, very rich - or you're an accountant or tax attorney with very, very rich clients.

According to an analysis published by the AFL-CIO, investment banks, hedge funds, and other Wall Street firms are the biggest winners from this tax bill.

The richest 1% of households would receive 83% of the tax cuts, and the richest 0.1% would get an average tax cut of more than $148,000. The tax bill is full of complex tax gimmicks that would encourage tax dodging while enriching lawyers and accountants.

On the other hand, the average household making less than $75,000 would pay more in taxes by the year 2027. In all, 70 million households making less than $100,000 eventually would pay more.

Even worse, the tax bill features a repeal of one of the key elements of the Affordable Care Act (ACA, or Obamacare). By repealing the ACA mandate to buy health insurance, the tax bill will cause health care premiums in the individual market to rise by at least 10%. Some 13 million people would lose health insurance, and as many as 15,000 or more people would die every year because of inadequate medical coverage.

The Republican budget already would cut Medicaid and Medicare by $1.5 trillion, and Speaker Paul Ryan has signaled that the huge budget deficit produced by cutting taxes for rich individuals and corporations will result in further cuts to social programs.

By limiting the state and local tax (SALT) deduction, the Republican tax bill would reduce state and local funding for education, infrastructure, and other essential public services we all depend on.

A new backdoor school voucher program would give tax breaks for tuition at private K-12 schools. Republican leaders in Congress also plan to use the deficit they created as an excuse to cut federal funding for education and other essential services.

Washington state Dems reject the bill
All of Washington state's congressional Democrats rejected the GOP tax bill.

Sen. Patty Murray, one of seven Senate Democrats named to the House-Senate conference committee, labeled the measure 'a terribly partisan bill that funnels even more money to those at the very top, at the expense of hardworking families and future generations.'

'From the millions of Americans who will lose health coverage or see their premiums go up, to the middle class families who will see their tax bill increase in the coming years, to the pristine region of Alaska that will open to drilling, it's hard to overstate the cruelty of the Trump-Republican bill,' Murray said in a December 19 statement.

'It's also hard to overstate the hypocrisy of so-called fiscal conservatives who apparently didn't think twice about blowing a massive hole in our deficit and endangering Social Security, Medicare, and Medicaid - all so they could dole out more tax cuts to the ultra-wealthy and the Trump family.'



According to Seattle-area Rep. Pramila Jayapal, 'The GOP tax scam bill is an all-out war on any idea of opportunity in this country.

'It's a massive tax break for the ultra-wealthy on the backs of middle-class families,' she added. 'It's outrageous that Republicans in the House voted to pass this love letter to their largest donors and corporations...

'With this heist, Republicans have branded themselves as the party of billionaires and giant corporations - they are robbing the American people and showing zero remorse.'

Seattle's other congressman, Adam Smith, also denounced what he called 'reckless tax cuts,' saying 'they put at risk crucial agencies and programs, such as the Department of Housing and Urban Development (HUD), military pensions, and Medicare. In addition to massively benefiting the wealthy and corporations, as well as reducing revenue by more than a trillion dollars, the tax bill endangers important mandatory spending priorities on which middle-class and working Americans rely.'

Tell a friend:

Share on Facebook  Share on Facebook

Post to MySpace!Share on MySpace!

    Share on Delicious

Share on StumbleUpon!

Trump tax bill: What's in it for us?
------------------------------
4th Circuit OKs Trans troops
------------------------------
Lambda Legal seeks documents after Trump administration restricts use of seven words at CDC
------------------------------
Porn site must defend itself against claims of HIV-positive actors, judge rules
------------------------------
HRC projects CDC's 'banned words' onto Trump Hotel
------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------
BREAKING NEWS
------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

------------------------------

click to visit advertiser's website

click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
click to visit advertiser's website
 
 
 
 

gay news feeds gay news readers gay rss gay
http://sgn.org/rss.xml | what is RSS? | Add to Google use Google to set up your RSS feed
SGN Calendar For Mobile Phones http://sgn.org/rssCalendarMobile.xml
SGN Calendar http://sgn.org/rssCalendar.xml

Seattle Gay News - SGN
1707 23rd Ave
Seattle, WA 98122

Phone 206-324-4297
Fax 206-322-7188

email: sgn2@sgn.org
website suggestions: web@sgn.org

copyright Seattle Gay News 2017 - DigitalTeamWorks 2017

USA Gay News American News American Gay News USA American Gay News United States American Lesbian News USA American Lesbian News United States USA News
Pacific Northwest News in Seattle News in Washington State News