House GOP passes Tax Increase for the Poor and Working

The House GOP has passed their tax bill. Remember that this is very, very important to them. They introduced the bill last week and passed it this week. Here the take home from the GOP House tax bill. (see chart) The vast majority of Americans life in that $20,000 to $500,000 range. Most of us will see an INCREASE in our taxes secondary to this bill.

I can spend hours and hours typing and belly-aching why this bill and the Senate bill hurts America. Tax cuts for corporations do not go for increase in wages. That is the dumbest logic ever thrown at the American people. There is NO evidence to support this nonsense. As a matter of fact the evidence shows that CEO’s increase their pay but not so much for the working man. The only way that corporations increase wages is in a very tight job market. That’s it. There is no way that cutting corporate taxes will tighten the job market.

More later.