While everyone was distracted with impeachment, the democrats passed a budget with a series of tax cuts it expects to pass the senate and then set vote dates for a bunch more tax cuts it knew would not pass the senate
In the new budget, we have all the following pork barrels, urban development grants and appeasement for billionaire corporate masters:

https://www.politico.com/f/?id=0000016f-158d-dc86-ab7f-b5ed726d0000

• $15 billion provision that would extend a special break for biodiesel through 2022.
  
• 3 year grace extra grace period for Indian coal facilities
  
• A special break for big multinational corporations, allowing them to more easily move money across foreign subsidiaries without triggering tax bills, would get another year.
  
• $5 billion extra for the New Market Tax Credit for low income
  
• $1 billion steep cut in excise taxes on beer, wine and other alcohol that would otherwise expire at the end of this month.
  
• A new temporary break for companies that offer workers paid family and medical leave would also get an extension. The bill would raise the age at which people must begin making mandatory withdrawals from individual retirement accounts to 72 from the current 70.5. It would also allow people to begin to use savings squirreled away in 529 education accounts to pay down student loans.
  
• $1.9 billion in rescinding a tax on fringe benefits provided by churches and nonprofits to their employees
  
• Close the accidental reverse loophole on survivor benefits that resulted in taxing the widows/families of military personnel.
  
• Ends the 2.3% tax on medical devices (laughing medtronic executives.jpg)
  
• Ends the Cadillac Tax on expensive insurance plans
  
• Funds gun violence research

List not inclusive, there's a bunch more
But it was a real feeding frenzy on Capitol Hill. Looks like with the smokescreen of impeachment, nobody was going to raise a stink.
They've also set a vote for a motion to repeal the SALT deduction cap of $10,000 from the Tax Cuts and Jobs Act, which would be DOA in the senate;

https://www.cbpp.org/research/federal-tax/repealing-salt-cap-would-be-regressive-and-proposed-offset-would-use-up-needed
https://taxfoundation.org/restoring-tax-fairness-states-localities-act-salt-cap-repeal/

The tax cut portion would give 96% of its benefit to the top 20%, 80% to the top 5%, 56% to the top 1%. Even coupled with restoring a higher marginal tax rate on the top income bracket as proposed, the amount is not offsetting and indeed because even more regressive and becomes a $20 billion tax cut that pretty much exclusively applies to multimillionaires and billionaires, giving zero benefit to anyone in the middle class or lower.

The rich already pay 90% of taxes though. This is just bringing it back to normal.

The top 1/2-5/6-10/11-25/26-50/51-100% of Americans pay 19.72/15.48/11.36/21.76/20.09/11.59% of the total tax burden
A progressive tax is one that provides its benefits weighted towards the middle or lower class more then those proportions. A regressive tax is one that provides more of its share towards the top than their respective tax burden rate.
If you just lowered everyone's taxes by 10% after all deductions and refunds and whatnot, it would have an exactly 19.72/15.48/11.36/21.76/20.09/11.59% breakdown across the top 1/5/10/25/50/100%
but repealing the SALT deduction would provide 56/24/16/4/0% of its benefit to the top 1/5/10/25/50%, weighted absurdly far towards the rich
the tax bill as proposed with a raise to higher marginal tax rate still results in -1.16% total less taxes for the top 1% and -0.06% for the top 2-5%, and absolutely nothing for anyone else
which we can calculate based on tax burden means that of the benefit, it would break down into a 96/4/0/0/0% benefit. As in, it would basically only help the top 1%, the most regressive tax possible.

Love it! I fucking hate the poor.

wooohoooo!

For one, redistribution doesn't help the poor, it just increases cost of living by creating an artificial demand and distorting the market's pricing mechanism.

Overall though, If I dunk you underwater and then later I bring you back to the water surface, I'm not doing you a favor. I'm just getting out of your way after first impeding you. The tax was progressive to begin with, after this it'd just be less progressive.

This post was edited by EndlessSky on Dec 17 2019 06:42pm

Dunno why so many poor people are out here fighting the good fight for billionaires profits.
Oh no he pays more tax, now he only gets to own one nfl franchise.

oh look the resident millionaire chimes in

Which is why i do not understand it, i do not need anyone to come out to bat for me, i am on easy street.
Go out and fight for that guy trying to get a job above minimum wage to move his family out of a trailer park.

some idiot always posts this