The Hill: McConnell 'misspoke' on claim that no one in middle class would get tax increase
Senate Majority Leader Mitch McConnell (R-Ky.) is walking back his claim that no middle class Americans will see a tax increase under the Senate GOP plan.
"I misspoke on that. You can't guarantee that absolutely no one sees a tax increase," McConnell told The New York Times on Friday.
McConnell added that "what we are doing is targeting levels of income and looking at the average in those levels and the average will be tax relief for the average taxpayer in each of those segments."
Democrats immediately seized on McConnell's walk-back, accusing the Kentucky Republican of lying about the Senate GOP tax plan.
Read more ....
Update #1: McConnell to NYT: I 'misspoke' on tax increase for middle class in Senate plan (CNN)
Update #2: Paul Ryan and Mitch McConnell are walking back a big promise about the GOP tax plan (Business Insider)
WNU Editor: The economy is booming. Unemployment around 4%. Real wages rising. Inflation in check. Business investment increasing. GDP at 3%. With numbers like this the party in power would win any election in a massive landslide. Unfortunately .... all of this is predicated on the expectation that some restraint on the federal budget will be imposed, and it will be imposed by the Republicans who are in power. Not surprising .... the Republican leadership and many of its members have an opinion that is different from those who elected them. Golden rule of politics .... when you govern against your base, your base will not go out and vote for you. The Republicans have made the decision that they will not respect what their supporters want, and this is going to cost them in 2018.
5 comments:
Same War, Different Battle
People bandy about, who donates more to charity. Usually the Dems run away with their tail tucked between their legs. But they point about charity being tax deductible (up to a point: Alternative Minimum Tax). They ask how much would you donate, if it was not deductible and say it is cost shifting. They have a point. Let's see.
Let's not allow deduction for charity or blue state confiscatory taxes. You should not be allowed to write off your 3% New York City tax or your 10% New York state tax. That is cost shifting to others in the nation.
Do not allow deduction for state/city taxes or charity giving.
McConnell is going to screw the pooch, because he is so lazy in a senatorial way and so laid back. I can see Roy Moore losing, but If McConnell loses the senate, a lot of it will be his own damn fault. That slothful, rich _______ (most everyone in Congress Democrat or Republican get rich) needs to get it in gear.
We need a tax Holiday like we had in somewhere 10 to 16 years ago to repatriate money followed soon after buy making out corporate tax rates much lower like Russia and other countries. I base my desire for a lower corporate tax rate on country comparison (competitive advantage) and my college calculus and economics courses.
I point out the previous tax Holiday, because it has been done before and so McConnell has absolutely no reason to ____ around and piddle his time away. Trump would git-r-done. McConnell believes in that teapot analogy of the senate(where you let things cool off and study them). It is the supposed Senate MO.
____ that Scheiße!
https://www.youtube.com/watch?v=plSRtNUgUDg
www.huffingtonpost.com/2013/08/19/giving-back-_n_3781505.html
https://english.stackexchange.com/questions/142312/origin-of-screw-the-pooch
http://www.slate.com/blogs/lexicon_valley/2014/01/14/screw_the_pooch_etymology_of_the_idiom_dates_back_to_nasa_and_the_military.html
https://en.wiktionary.org/wiki/screw_the_pooch
We need close to zero percent unemployment.
For years around the 1990s they use to opine, outgas really, that the 5% unemployment was really full employment. People switch jobs and the snapshot of the economy captured that as the 5% statistic.
- With computers, the Internet and faster reporting does that theory hold up?
- How many people do you know quit a job before they find another?
- Does the U3 capture stuff that should be U6 seasonal help, where the job is more of a bonus than a family necessity.
4% unemployment (U3) is okay or passable and 3% growth is decent, but it won't last. It won't last without lowering tax rates.
That timorous, tepid little __________, McConnell, should get his ass in gear!
I am glad he is doing well. His job is to #1 keep the country safe and enact sane economic policies not to play Roman senator like Chris Dodd puttering around his estate.
https://www.opensecrets.org/personal-finances/net-worth?cid=N00003389
https://www.therichest.com/celebnetworth/politician/republican/mitch-mcconnell-net-worth/
https://www.washingtonpost.com/news/fact-checker/wp/2014/05/22/how-did-mitch-mcconnells-net-worth-soar/?utm_term=.7ccbc8ea4fa8
https://en.wikipedia.org/wiki/Mitch_McConnell
The last time the economy was booming like this was the dot com boom. Things feel much different today than then. I see record amounts of homeless around the cities. I don’t feel like people are making good wages. It doesn’t feel like an employee market like it did then. Where you could quit and instantly find a better job paying more. It just feels like stats on paper with the reality being something different.
Steven,
I hear the same thing from my friends in the U.S.. Some are doing very well. Many are not. As for Canada .... we are suppose to be booming, but the reality on the ground is very different. Zero Hedge has posted a number of articles on how many (in both the U.S. and Canada) are just one pay check away from disaster.
I'm 24 years old, born in the US. Im not your average 24 year old, which I credit to my success. The American dream isn't what it's suppose to be. This year, I finally got to position that I'm not living pay check to pay check. It took me 7 working years to break the pay check to pay check cycle. Again, not your average 24 year old. I will work circles around most men, and I've got the brain to be whatever I'd want to be. Giving it everything I had, it took me 7 ling years. I only managed to break the circle by finding a rent to own, and selling it for double the price the second I paid it off. Which then bought me a truck, and $4,000 worth of tools. So, staying in a friend spare room. I went to work as a private contractor installing cable. I tripled my net income. I pulled that off In the last 2 of my 7 working years. Not that I didn't have the means before, or the intelligence to make that move. I had scoped that job years before, but never had the means. There are very little opportunities for someone growing up poor, no family, no safety net. Which is why I votes for trump. The first time I ever decided to vote. I wanted to see change. But as you stated wnu editor, my vote is gone if I don't feel this tax break. Also, those 7 working years weren't spent flipping burgers. I was a crew leader for a few different construction companies. I managed restaraunts. Was even the lead salesman In charge of 2 millions dollars worth of campers. The best paying job I had worked at the time, but still peanuts. The most I ever made in those seven years was 750 take home for a week. But yeah, as an American, the American dream is bs. Giving it your all, working harder than everyone around you, and having a good head on your shoulders does not guarantee you'll make it. Having a silver spoon is how you make it here.
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