How the new GOP tax plan is going to DESTROY everything. and everyone. and everywhere.

Concerning the late video going around on how the GOP treats corporations better than people, I’m just going to go over this video, because the ridiculousness of it is…… Anyways. 

First of all, my father is a high school teacher, and my mother has been, so I’m not just saying this without actually being involucrated in or knowledgeable of the situation.

The tax deduction for teacher’s supplies (26 USC §62d) allowed for a $250 ($500 if they are married teachers, but no more than $250 each) tax deduction of the reported average of $500 that teachers spend on such supplies. This section has, in fact, been repealed in HR1. The tax deductions for government/state job expenses have been repealed in all areas including officials, public school teachers, administrative positions, and more.

Just a small thought, but it is possible the prices of these materials are so high because of the fact people give some leeway due to the formerly available tax reduction. The removal of this reduction will likely force them to lower prices, therefore annulling and/or greatly reducing the need for such a reduction in the first place. I mean seriously? A pack of 4 markers that only includes one black one (the coloured ones don’t even last, so it’s almost like getting only one marker) and that costs the public $8 and probably like a penny to manufacture in China, including wages? Now that’s ridiculous, not the repealing of a $250 return. Why don’t we talk about that instead? They could probably sell those for 50 cents and still make a ridiculous profit.

Anyhow, back to the video.

Mr. Barthold says that the business expenses part has not been changed, but in fact there is a small revision in Section 162 that reduces the tax return on a certain situation concerning businesses, so that is partially false information, even if it was an oversight or generalisation. I would furthermore like to point of that Ms. DelBene focuses on individual government employees versus an entire businesses’ tax returns. This is an unrealistic application due to the fact that a company is not one individual. There is also the issue that 14.2% of working individuals work for any government position (including, but not limited to teachers and officials) while 85.8% of the working population work in businesses and otherwise. (I have used the Federal Bureau of labor’s statistics for this.) Therefore, the majority of the working population would be positively impacted because their place of work will be positively affected by these specific reforms despite a small number possibly being slightly negatively impacted by these specific reforms.

Another issue that Ms. DelBene fails to address in this short clip is that although the aforementioned reforms may null the return of a few hundred dollars a year to a small percent of working individuals, they will be receiving other tax returns and tax cuts that will positively affect them in other areas of HR1. Just a few examples: The standard deduction merely for being a married couple is nearly doubled. For each child, the tax return was $1,000. With HR1, the tax return for each child is $1,600, a 60% increase of tax returns. HR1 also amends this to include dependents/family, not just children.

To those complaining that it favors the rich, I say that all of the lower quintiles will be getting tax cuts while 32.2% of the upper quintile (the rich) will actually be getting their taxes raised. So that’s completely false and wrong and just… Yeah, don’t even consider that. That’s ridiculous, a high percentage of the rich are getting their taxes raised while everyone else gets tax cuts. Bonuses for the top paid three employees in a business are also no longer tax deductible. Please do explain to me how that is in any way good for the rich if you still have that argument, I wouldn’t mind the amusement. Oh! Another thing! There’s another video floating around somewhere that actually shows someone explaining some major points of HR1 to people on the street, but implying it was Bernie Sanders’ plan, and they actually believed it was Bernie’s and started roasting Trump and stuff when it was actually Trump's plan they were being told about! That was hilarious. I can't find it at the moment, but it exists.

Although the tax plan in general isn’t an amazing benefit to everyone, it definitely won’t be a negative. And I think that is a pretty important point. Most individuals will be slightly positively affected by the tax plan.

So. 

Yeah.


Actually sit down and read HR1 before you go rabid. It's honestly not as bad as they make you think.