So, what does the Senate version of this bill (HR-1) do? By and large, the Senate bill matches HR-1. But, there are some significant differences. It’s not clear which house will prevail in their interpretation of the various changes (or that the Senate version passes at all). But, again, tax planning is critical- we need to know what may happen. We need to discern what changes this Senate version- if it passes- will have in conference, when the House and Senate work out the differences in their versions.
Don’t you just love it that when the Democratic Party is in power, all the GOP can discuss is the increasing debt. And, once the GOP takes power, they forget all about the debt and suggest a tax reduction for the rich that will add trillions of dollars to our debt and render the budget inflows to be a small percentage of the budget outflows.
I always find it amazing how some folks want us to believe there’s a fiscal multiplier- but only if you cut revenue. (That means letting certain [rich] folks pay no taxes.) They just tried that in Kansas- and any sentient being can recognize that disaster.
I have been ranting about the claims that talking on the phone while driving is dangerous- but talking to your fellow passengers is not. That is such malarkey- since these actions all involve the same parts of our brain. Now, texting while driving- that is very different. Because the driver is NOT looking at the road, but at his/her cell phone…