TRY AS THEY MIGHT, THE LEFT, DEMOCRATS AND THE BIAS MSM WILL NOT BE ABLE TO COMBAT THAT 90% OF AMERICANS WILL GET A TAX CUT IN 2018 …
As reported at CBS News – Boston, next month American workers will see the beginnings of the Trump-GOP tax cut in their paychecks. All Americans, whether you be Republican, Democrat, Conservative, Liberal, Libertarian or somewhere in-between will benefit from this. Whether you are black, white, Hispanic, Asian or whatever, you will benefit from these tax cuts where not one Democrat House Representative or Senator voted for. Unreal, the once Democrat party of the blue color worker now votes against the American worker. The LEFT, Democrats and the liberal media can say and write all of the negative stories they want, the fact of the matter is that an overwhelming majority of Americans will see a benefit from this courtesy of President Trump and the GOP.
The U.S. Treasury and the IRS on Thursday put out new guidance and withholding tables for employers that incorporate changes from the new tax law.
Under those new tables, the Treasury estimates that 90% of people who get a paycheck are likely to see more in take-home pay, as soon as February. Employers will have until Feb. 15 to incorporate the changes in their payroll systems.
But for many taxpayers, they will need to assess whether the new tables really are withholding enough money so that they’re not saddled with a big bill when they file their taxes next year.
The major changes affecting individuals include new tax brackets, (mostly) lower income tax rates, a near-doubling of the standard deduction and the elimination of both personal exemptions as well as many itemized deductions.
The new tables are designed not only to best approximate the change in workers’ tax liability under the new law, but to do so in a way that “delivers benefits as soon as possible to as many people as possible with as little disruption as possible,” a senior Treasury official told reporters.
The IRS is not issuing new Form W-4s … yet. “We’ve constructed the tables so that most people should be accurately withheld if they leave their W-4 in place,” a senior IRS official noted.
Let’s see how the Democrats and their MSM propaganda machine spin this ahead of the 2018 midterm elections. What is their slogan, Vote for Democrats, because your money is our money! Good luck to those Democrats in Trump states explaining this one.
Wells Fargo & Fifth Third Bancorp Provide Bonuses & Unveil Minimum Wage Hikes after GOP Tax Bill Passage
SO THIS IS WHAT ARMAGEDDON MEANS TO DEMOCRATS … EMPLOYEES BENEFIT AFTER TAX CUT BILL PASSAGE …
Merry Christmas from President Donald J. Trump and the Republicans in The House and Senate. Because the GOP Tax Bill was passed, look what happened in return. Remember, not one, not one Democrat voted for this legislation. Wells Fargo and Fifth Third Bank provide early Christmas presents to their employees, thanks to passage of the Tax bill.
Fifth Third Bancorp will pay more than 13,500 employees a bonus and raise the minimum wage of its workforce to $15 an hour after the passage of the Republican tax plan that will cut the bank’s corporate tax rate.
Fifth Third is yet another company to announce a bonus for employees because of the tax plan. AT&T said earlier Wednesday that it would pay more than 200,000 U.S. employees $1,000 each and increase its capital spending budget by $1 billion.
Wells Fargo, meanwhile, also said it would be boosting its minimum wage for employees to $15 an hour, which was prompted by the tax plan. The San Francisco-based bank also said it would target $400 million in donations to community and nonprofit organizations next year.
Senate Passes $1.5 Trillion Tax Cut Early Wednesday Morning … Pending Procedural House Vote … Trump To Sign This Afternoon
MERRY CHRISTMAS FROM TRUMP AND THE GOP …
Early Wednesday morning, the U.S. Senate passed the 1.5 trillion tax cut bill. It will be sent on to the House Wednesday for a vote and then off to President Trump this afternoon for signing. The Senate vote was along party lines, 51-48, with not one Democrat voting in favor of the bill. That is correct America, not one Democrat wanted to give the American people a tax cut. The House passed The Tax Cuts and Jobs Act 227-203 on Tuesday where 12 Republicans and all Democrats voted against the bill.
Sadly. the LEFT is more worried about their resistance to President Trump than they are in giving a tax break to the American people. Like it for not Democrats and the liberal MSM, this is a huge win for President Trump. We shall see what these fake, skewed polls look like when the American people see a change in their pay checks in February. As stated at The Weekly Standard, “The tax bill may be polling poorly as it heads to Trump’s desk, but he and the Republican party head into next year’s midterm election cycle with a substantive legislative accomplishment they can argue is helping boost the economy.”
The Senate passed the GOP’s $1.5 trillion tax cut early Wednesday morning, leaving just one technical hurdle and President Trump’s signature as the final steps before the president’s top legislative priority becomes reality.
There was little last-minute drama in the Senate where the final tally was 51-48 – hardly different from the original version that cleared the Senate earlier this month.
Not a single Democrat voted for it, just as none in the House voted for a similar bill earlier on Tuesday.
Moments after the measure passed, Trump was quick to voice his approval and said if the House succeeds in a final re-vote Wednesday morning, there will be a White House news conference at 1:00 p.m.
‘The United States Senate just passed the biggest in history Tax Cut and Reform Bill,’ he tweeted just after 1:00 in the morning. ‘Terrible Individual Mandate (ObamaCare)Repealed. Goes to the House tomorrow morning for final vote.’
From The Cato Institute: Final Tax Bill: Biggest Cuts for the Middle.
The Joint Committee on Taxation (JCT) has released its distributional analysis of the final Republican tax bill. The bill provides even larger percentage cuts for middle earners than previous versions of the legislation.
If the legislation is enacted, higher earners will pay an even larger share of the overall income tax burden than they do now. Our highly “progressive” income tax will be even more progressive. That approach is counter to sound fiscal governance and undermines the growth potential of tax reform, but that is what Republicans are delivering.
Looking at JCT’s table for 2019, second column, the percentage cuts are roughly similar across income groups from $20,000 to $1,000,000. But the JCT table slants the results by including payroll and excise taxes. The table under-measures the percentage cuts to the middle compared to the top.
IT IS TIME FOR JOHN MCCAIN TO RETIRE, SPEND TIME WITH FAMILY AND BATTLE CANCER …
Sen. John McCain is returning to Arizona and will miss the final vote on the GOP tax passage expected this week. McCain is recovering from the side effects from chemotherapy treatment for brain cancer. McCain is expected to return to Washington in January. There are a currently razor-thin margin needed to pass the tax bill; however, McCain’s presence will not likely be the determining factor in the vote. It appears that the votes from Bob Corker of Tennessee and Marco Rubio of Florida will make McCain’s vote not needed. I am sorry, Sen. McCain needs to retire and do the best thing for him, his family, his country and his Party. The man has brain cancer, things are not going to get better, they will get worse, much worse. Being a Senator is not a life-time appointment like the SCOTUS or Pope. If you can’t do the job required, anyone in politics needs to retire. The Senate is bigger than any one individual and its time that John McCain spend the remainder of his days with family and loved ones instead of holding a political party hostage wondering whether he can made a vote or not. Please Sen. McCain, do the right thing, be a hero again.
Republican Sen. John McCain returned home to Arizona after spending several days in a Maryland hospital recovering from side effects from chemotherapy treatment for brain cancer, CBS News has learned. He will spend the holidays with his family and will not be on hand for the final vote on the GOP tax passage expected this week. He’s expected to return to Washington in January.
Late Sunday, a dual statement from McCain’s doctor and his office described the senator’s current health situation.
In a statement citing Dr. Mark Gilbert, Chief of Neuro-Oncology at the National Institutes of Health’s (NIH) National Cancer Institute, McCain “has responded well to treatment he received at Walter Reed Medical Center for a viral infection and continues to improve. An evaluation of his underlying cancer shows he is responding positively to ongoing treatment.”
In addition, McCain’s office said he will undergo more treatment at the Mayo Clinic:
“Senator McCain has returned to Arizona and will undergo physical therapy and rehabilitation at Mayo Clinic,” the statement read. “He is grateful for the excellent care he continues to receive, and appreciates the outpouring of support from people all over the country. He looks forward to returning to Washington in January.”
U.S Government Collects Record Taxes $443,715,000,000 Through November and Still Run $201.8B Deficit
HOW IS THIS FRIGGING POSSIBLE … WHEN ARE THESE DIRT BAG POLITICIANS GOING TO ADMIT WE HAVE A SPENDING PROBLEM?
CNS News is reporting that the federal government collected record total tax revenues of $443,715,000,000 in the first two months of fiscal 2018 and still ran a deficit of $201,761,000,000 for those same two months. WTF!!! How is this possible? What the hell does Washington DC expect from We the People? The answer can’t be let’s just tax the piss out of the people and business even more. The fact is that because the economy is booming, more and more revenues will be coming into the government and they will still be under water. This is a pox on all of your Houses, Democrat, Republican and so-called Independent socialists. Enough is enough!
How is it that private sector businesses are doing more without these days through innovation, yet the federal government just keeps growing and growing? Why is it that families in the United States have to make ends meet and do without when they can’t afford things? But not the out of control federal government. This cannot continue to happen. There have got to be spending cuts in government. Pensions for government employees, other than military need to go. Every department needs to but their budgets by 30%, except military. Honestly, how did we get to this? Sadly, there will never be any tough changes because of the nature of dirty opposition politics. Because neither party, nor both together, is willing to do the right thing for the country. It now seems that both parties just want to collect more and more monies and redistribute it to others and in the process continue this out of control spending. The government has got too big and it is time to regulate government, not business or We the People.
The federal government collected record total tax revenues of $443,715,000,000 in the first two months of fiscal 2018 (Oct. 1, 2017 through the end of November), according to the Monthly Treasury Statement.
Despite these record tax revenues, the federal government still ran a deficit of $201,761,000,000 for those same two months.
That is because the government spent $645,476,000,000 in October and November.
The $443,715,000,000 that the federal government collected in taxes in the first two months of this fiscal year was $12,873,120,000 more in constant 2018 dollars than it collected in the first two months of fiscal 2017 and $11,352,180,000 more than it collected in the first two months of fiscal 2016.
Prior to this year, the $432,362,820,000 in total taxes (in constant 2018 dollars) that the federal government collected in the first two months of fiscal 2016 was the greatest amount of taxes the federal government had ever collected in the first two months of a fiscal year.