A Big Fuck You From The GOP
- The so-called "Conservative" Republican Party is already attacking the 401k middle class retirement program. Now they are going to take away the middle class mortgage interest deduction.
- A "Crazy Blogger" like me might conclude the GOP does not give a shit about the American people.
(Wall Street Journal) - An influential home builders group will oppose the House Republicans’ forthcoming tax bill, in a blow to the party’s attempt to forge unity among business sectors.
House Republicans plan to release their tax bill on Wednesday. The tax legislation is the centerpiece of the GOP’s economic and political agenda, and many details have been closely guarded as lawmakers try to build a coalition to push it through the House before Thanksgiving.
The plan nearly doubles the standard deduction, ends personal exemptions and likely repeals the deductions for state and local income and sales taxes.
According to estimates from the Tax Policy Center—which includes assumptions about blanks left in the House GOP plan—the current Republican framework would leave 4% of taxpayers claiming the mortgage-interest deduction, down from 21% today.
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Fuck You GOP
All I can figure is the "Conservative" GOP deliberately wants to sabotage Trump's tax cut plan.