Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688

Both houses of congress have now passed the 2017 Tax Cuts and Jobs Bill. After four hours and near blindness, I finished all one thousand plus pages. Every citizen should read this bill. In Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

Big Little Reforms

Especially relevant is the public relations effort by republicans to convince voters this is a ‘sweeping’ reform of the US tax Code. In fact it is an amendment to a budget bill that further amends the 1987 Tax Reform Act.

Everyone Loves Or Hates

Moreover, if you read the bill, you should almost have a copy of the 1986 Tax Reform Act handy. Both sides of the so called political divide are touting how great this legislation is, or how it will end the world as we know it.  I’ll give you some details in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

Please Hold For Your Tax Attorney

Truth is if you are in business you’re still going to need an accountant and tax attorney advise you. Some businesses will see their taxes increase. Some individuals will see their taxes increase. Sure, the standard deduction has been doubled and tax rates reduced…but…

It Might Be Good…Then Again

There will be fewer deductions and thus fewer ways to legally reduce exposure to taxation. Depending on your specific situation you might see an increase or decrease in your overall tax. I explain some of this in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688. In addition, listen to my tax reform podcast to understand the political game going on under the guise of fixing the tax code.

Never Underestimate The Power of Free Beer

There are scores of pages concerning craft beer, wine and spirits. Guess all those receptions with free hootch for members must have worked! Finally there are lots and lots of new rules regarding businesses of all kinds.

Beware of Congressmen Bearing Cool Sounding Jargon

When congressmen and senators go out among the people and talk about all they have accomplished, you’re going to hear the words ‘pass-through’ and ‘average american will save’ such and such a lot. What does it all mean? Find out in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

More Government Control

In conclusion my final reaction is the sadness I feel that our federal government controls so much of what we do as citizens through the mechanism of taxation. Republicans who campaigned on a tax cut have certainly paid off on that promise, at least until 2025, but at what price. That is the 1.2 trillion dollar question. President Trump signed the bill into law Friday afternoon.

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Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688

Podcast 287

Tom Emmer’s Vote. A vote by a freshman congressman from Minnesota’s 6th district has provoked a Tea Party Tantrum. Congressman Emmer voted for Speaker Boehner. One Tea Party group has lashed out in anger and frustration, expecting Congressman Emmer to have voted with 25 ‘insurgent’ members that nominated Texas 1st District Congressman Louie Gohmert for the Speakership. Rumors have the North Metro Tea Party petitioning Minnesota State Republican Party chair Keith Downey to give Tom a talking to. Downey was unable to win any statewide offices while Emmer managed a fifty-six percent margin in the 6th, so with all due respect to the party chair, why should Emmer listen to him? Moreover, representative Downey is hardly a Tea Party Republican. And what about the votes of other Minnesota Republican Congressmen. Where’s the outrage about them? Many people expressed their disappointment with Emmer’s vote on FaceBook. Unfortunately, much of the criticism seemed devoid of reason. People couldn’t seem to come up with a name to replace Speaker Boehner, even though Louie Gohmert was the candidate. One correspondent actually suggested talk show host Mark Levin, who is of course not a congressman and therefore ineligible. Others seemed confused as to the role of the Speaker. Still others seemed shocked that sending out links to Freedom Works and calling their congressman didn’t suddenly produce the desired result. What are the principles of a conservative? No one knows, or can’t articulate any cogent reply to the question. The missing link between outrage and actual political power is organization. All through election season, candidates trooped around to Tea Party meetings, where they were dutifully received. Tea Partiers sat there and ate their hamburgers and listened to political pablum, thinking it was enough that they were there. Despite a huge victory for Republicans in the US House this year, the best this group can muster is 25 votes against the Speaker? Despite the fact that Tea Party meetings are supposed to be informational, many of them have become little more than cults of personality. Why? Bluntly speaking? There’s little real political work being done amidst all the hot air. Sponsored by and by Depotstar. (Editor’s Note: Correction: The US Constitution does not require the Speaker of The House to actually be a member of the house, although the speaker always has been a member. Obviously a non member would still have to be elected by members. Thanks to Dean via Twitter for the info.)