Best Gubmint Money Can Buy, Cont.
The Republican Party Takes Flight
LOSER Republicans are trying to kill the ACA again! Sad!
The newest new Give Billionaires More Money bill changes the fine for not being insured to $0, which is a good way to Death Panel the ACA.
Almost all the health care pros—including the doctors, hospitals, and insurance companies—have come out against the tax bill. Why are they so mad? Because millions of people would be uninsured, premiums for everyone else will skyrocket, and the entire health-care ecosystem goes boom.
Enter Senator Ron Johnson (insert your own ‘Johnson’ joke here). RoJo is actually a hero of sorts, which is a new role for an old dolt. He’s the first senator on record to say he’s not going to vote for the bill, and a nation turns its lonely eyes to Susan Collins and Grandpa Walnuts. Again.
RoJo doesn’t like how the bill treats pass-through bidnesses (because he used to run one? Yes). Businesses organized as legal corporations get a lower tax rate than small businesses that are not organized as corporations. Trying to make RoJo happy will cost Amply Be-Chinned Mitch a lot of Ameros, and so it is likely that RoJo cannot be made happy.
Expect the lobbyists to call in their chits: this is really what will kill the bill, if anything does.
Different Republican senators are going to demand their pound of flesh. RoJo doesn’t like how it treats pass-throughs, another will not like repealing the ACA mandate (it could happen!), and some won’t like repealing the deductions for state and local taxes… and that’s the problem: tax bills impact everyone, and any small item can be a huge problem for people who care about it, or more accurately for the honest politician who, when bought by a lobbyist, stays bought.
UPDATE 1: More smoke and mirrors from the Senate:
Last Thursday, Senate Republicans received some terrible news: their trickle-down tax bill—the one that would transfer trillions in wealth to corporate America—officially had too much red ink to pass with a simple majority. So on Tuesday night, lawmakers took a step back and decided upon some radical changes to come up with the revenue necessary to ensure the bill complies with the Byrd rule. First, as expected, they threw in a repeal of Obamacare’s individual mandate, which frees up some $300 billion over 10 years thanks to an estimated 15 million people going uninsured. But the real coup de grace was deciding to completely sacrifice the nominal tax cuts being tossed to the middle class: under changes proposed by Utah Senator Orrin Hatch, tax cuts for the middle class—as well as other individual tax cuts, plus the doubling of the standard deduction—would expire after 2025. The reduction of the corporate tax rate from 35 to 20 percent, on the other hand, would be permanent.