Late Night Senate Tax Reform – Vote Watch and Discussion Thread (W/ Livestream)…

The Senate is voting on the final Tax Reform Bill tonight. According to Democrats as soon as the votes are cast people will begin to die (we await confirmation). Unfortunately due to a Parliamentary Rule the Senate Bill will then need to be voted upon by the House tomorrow.  UPDATE: Bill Passes 51-48

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This entry was posted in Legislation, Live Streaming, Mitch McConnell, Taxes, Uncategorized. Bookmark the permalink.

611 Responses to Late Night Senate Tax Reform – Vote Watch and Discussion Thread (W/ Livestream)…

  1. TreeClimber says:

    “According to Democrats as soon as the votes are cast people will begin to die (we await confirmation).” *snerk* Do pass that confirmation on when you receive it…

    Like

  2. scarlettbr says:

    I read a report, two minor changes were made, due to the persistence from the democrats.
    1. does anyone know, what are those changes?
    2. If no democrats are voting for the bill, why accommodate them at all?

    Like

    • Tonawanda says:

      I think the Democrats might be technically right, so the Senate decided to just clear away any potential problems.

      I do not remember the provisions exactly, but they were trivial and obscure, having to do with college endowments and tuition, I believe.

      Don’t get me wrong, university endowments need to addressed, but that can be done later.

      Like

    • Dragon says:

      Which Democrat? McCain or Graham?

      Got to say this feels really good regardless, just knowing the liberals are going to have their holiday ruined.

      They did the same to me when they passed Obamacare on Thanksgiving years ago.

      Liked by 7 people

      • sat0422 says:

        They did the same thing to me every year that Obama was in office. The process of constitutional government came to a virtual standstill. No committee work except for superficial and no bills exchanged the house and senate for approval that I can remember. Our lives under Obama were just the beginning of a totalitarian regime that the social Democrats had planned to complete with Hillary. Now you know….go tell it on the mountains…go tell your children and grand children…and most of all, never forget!

        Liked by 1 person

    • Somewhere in Dixie says:

      As I understand it, it was a wording the parlamentarian demanded to be changed.

      Like

  3. Luke of the D says:

    So here is info about the actual bill just passed by the Senate: https://www.govtrack.us/congress/bills/115/hr1/summary.

    My quick reading here are key points: Corporate taxes are reduced to 21% (and I quote “largest corporate tax rate reductions in history”). Re-patriation of corporate assets over seas (boom!). It appears there are sill 7 tax brackets for individuals and married couples: 10%, 12%, 22%, 24%, 32%, 35%, and 38.5%. Standard deductions are doubled. State and local tax deductions are capped at $10,000 and mortgage deductions limited to properties valued at less than $750k (a BIG hit to liberal utopias like California, Illinois, New York, and Massachusetts). Obamacare individual mandate is TOAST! AMT is gone. Oil drilling in the ANWR (boom!).

    Overall pretty damn good. I do not expect to out-right see my taxes go down (I am in one of the upper brackets… I think the 24% one), but the corporate tax cut alone makes this whole thing worth it! Lower the corporate rate and JOBS! JOBS! JOBS!

    Republicans own this 100%. Democrats are going to eat it hard in 2018.

    I love winning! MAGA!

    Liked by 4 people

    • Luke of the D says:

      Wait… maybe not. Quick back-of the envelope calculations: I am currently in the 28% tax bracket and my effective tax rate is near $30k as a result, but according to this my new effective tax rate under the 24% bracket is $25k. That is not taking into consideration any deductions, just out-right income and tax rate. Huh… I guess I will have more to give to charities in 2019 (note: the individual tax rates apparently skips 2018 entirely)! Heck-to-the-yeah!

      Liked by 1 person

      • kjf says:

        Not enough, still getting BOHICA. Income tax is too high even living in a state with no income tax. Fed income tax and property tax break me every year and takes all year to recover just to get broken again in Jan. States and counties need to cut back. If I have to do without then my ” betters” need to also.

        Like

      • Bugsdaddy says:

        Does this affect the taxes we would pay for 2017? or does all of this only take effect for whatever we do in 2018? I’ve not seen anything clear about that.

        Sorry if that is a redundant question…..

        Liked by 2 people

    • MouseChop says:

      I do believe those Economic MAGA Engines just hit OVERDRIVE!!!! WOOHOO! PTL!!!

      Liked by 4 people

    • Tonawanda says:

      When leftists (falsely) complain about not paying enough taxes we can say, “we took care of you by capping the deduction for the mansion you live in.”

      Liked by 6 people

    • Somewhere in Dixie says:

      Overall pretty good. It is not perfect and won’t satisfy everybody as usual. We are retired so we still have to see how it is going to affect us. Our son, family of four, only one working with two kids (one with mild autism) is going to benefit. That is good. They are die hard deplorables. MAGA everyone.

      Liked by 2 people

  4. Tonawanda says:

    Congressman Chris Collins was just on local TV and said he will stake his re-election on the fact that 98% of his constituents will see their taxes go down.

    Collins has a middle class district in Western NY.

    Liked by 5 people

  5. Leslie Ingersoll says:

    The tax poem
    April 12, 2009 Wordsmith
    3272
    the-tax-poem
    The Tax Poem

    Tax his land, Tax his bed, Tax the table at which he’s fed.

    Tax his tractor, Tax his mule, Teach him taxes are the rule.

    Tax his work, Tax his pay, He works for peanuts anyway!

    Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt.

    Tax his tobacco, Tax his drink, Tax him if he tries to think.

    Tax his cigars, Tax his beers, If he cries tax his tears.

    Tax his car, Tax his gas, Find other ways to tax his ass.

    Tax all he has, Then let him know, That you won’t be done till he has no dough.

    When he screams and hollers, Then tax him some more, Tax him till he’s good and sore.

    Then tax his coffin, Tax his grave, Tax the sod in which he’s laid.

    Put these words Upon his tomb, ‘Taxes drove me to my doom…’

    When he’s gone, Do not relax, Its time to apply the inheritance tax.

    Discover more from Adam Smith Institute

    THANK YOU DONALD J TRUMP P45 !
    Relief is on the way!
    MAGA🇺🇸🎅

    Liked by 5 people

  6. El Torito says:

    It’s a glorious morning in the Treehouse and all across the land! I love the picture of DJT and Mitch. It’s as if DJT is saying:

    “Mitch, I just want to make sure you’re on the right list. You want to be on the right list, don’t you Mitch?”

    (way back in my leadership days in high tech I’d use this on my direct reports. 98% humor, mixed with 3% poker face so I’d just a wee bit in their head.)

    Liked by 3 people

  7. Leslie Ingersoll says:

    It is a glorious day🇺🇸 I’m just so giddy😀😍😅😂

    Liked by 2 people

  8. Patriot1783 says:

    I hope CT Dems Sen Blumenthal, Rep Murphy, Hines & others hear the tick tock of their political careers and are voted out now in order to get CT in fiscal order once again.

    Liked by 2 people

  9. magatrump says:

    Winning!!!! Major promise kept! This will put the economy in overdrive and will create massive jobs, jobs, jobs for Americans!! Thank you President Trump. Thank God. Amen. MAGA

    Liked by 2 people

  10. Luke of the D says:

    So I have been reading various news and such and the liberal critics against this tax bill are clearly either incredibly stupid or blind. I am convinced at this point that there is something wrong with liberals. I have read comment after comment from liberal trolls talking about how this plan “borrows money to pay for tax cuts” or is “a wealth transfer from the poor to the rich” and other such garbage. It is simply amazing how deluded these people are. How can a tax cut to everyone be considered borrowing? Or a wealth transfer? How can they even say that with a straight face? It makes no sense. There simply do not seem to be any rational or intelligent arguments against this bill. None. The snowflakes are melting… because we just allowed them to keep more of their own money. What the hell is wrong with these people?

    Liked by 3 people

    • Sean Supsky says:

      My friend, be not amazed.

      To find the answer, think that liberals always want to look good, compassionate, helpful, with big hearts and warm regards. They love to give donations to any cause under the sun that fits into the mental construct. The funds they give though, it is not their own, rather, it is other people’s money.

      They do not give away their money. No, their angle is to shame others into doing so. They want to keep their money.

      Essentially, it’s all a sham. I know these people, I am around them all the time.

      They are the most greedy, evil, narcissistic people I have ever met. They are shamelessly selfish.

      There is hope though. Sometimes, one is able to get through the brainwashing and, little by little, lead them to the path of light. The secret is to drop hints until they think it is their idea to head toward the light.

      Yes, this means you must agree with them while at the same time, nudging them ever so slightly. Basically, manipulate them, in such a way that they don’t know they are being manipulated, onto the correct path.

      They will then be your friends, very good friends in fact.

      Obviously, this means that you must be sincere in what you are doing, and not just putting on a show.

      Liked by 1 person

  11. Blacksmith8 says:

    Tax bill passes House in re-vote; more to MAGA!

    2 scoops plz

    Liked by 1 person

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