This bill (now in reconciliation) will explode the deficit over 1.5 trillion dollars in 10 years. There is NO plan to address the deficit. The repeal of the individual mandate for the ACA will destroy it. All the goodies for the rich will be permanent while the middle class cuts are phased out. New loopholes for the rich could result in an even higher deficit. Cruel removal of tax deductions means some middle class people will pay more - in some cases, much, much more. The repercussions and continued redistribution of wealth to Repub donors (bribed into giving them more money) will have devastating effects on the economy as it slows to a crawl. Forced tax cuts to programs like Medicare and more to make up for all the money we are giving to the rich will hurt you and your relatives.
I cannot tell you how important this is.
Call your rep. Repub reps especially need to know they will be voted out of office for this transgression. Call your senators too!
Remember, Social Security and Medicare are not "entitlements" We EARNED those benefits by PAYING FOR THEM.
For a taste of the horrible results of this bill, from repealing the estate tax to dropping taxes on the wealthy and corporations, this bill stinks!!
USA Today's article has some eye popping info on the bill:
15 things in the Republican tax bill's fine print that could affect you
https://www.usatoday.com/story/news/politics/2017/11/04/15-t ... u/829075001/
From last week, a Salon article:
Let’s take another look at the GOP’s terrible tax bill, which could be passed or killed this week
https://www.salon.com/2017/11/27/lets-take-another-look-at-t ... d-this-week/
And from the Atlantic:To the surprise of no one, the Congressional Budget Office found the bill is a disaster for the poor and wonderful for the rich. Americans who earn more than $100,000 each year would receive substantial tax cuts and other benefits, according to The Washington Post, while those who earn less than $30,000 each year would be worse off by 2019. By 2021, Americans who earn less than $40,000 each year would be worse off and by 2027 that would extend to Americans who earn less than $75,000 each year.
It's worth mentioning that this bill — a tax bill — is also designed to gut the Affordable Care Act. The GOP's tax plan will effectively eliminate the individual mandate, which requires most Americans to either purchase health insurance or pay a penalty. The CBO estimated that, by eliminating the individual mandate, the tax reform bill would cause 4 million Americans to lose their health insurance by 2019. That number rises to 13 million by 2027. Predominantly conservative rural regions of the country would be especially hard-hit, according to a data analysis by the Los Angeles Times.
The 7 Myths of the GOP Tax Bill