On Tuesday, the Senate passed the GOP tax bill along party lines, a measure that has been roundly condemned as a huge boon to the wealthy at the expense of the middle and lower classes. The bill includes tax breaks for private jet and golf course ownership, just to give you an idea of who was prioritized. The bill received a few new provisions after the vote, and will be revoted on in the House on Wednesday, according to CNN, but it doesn't look good.
MSNBC host Chris Hayes has been tweeting about the tax bill a lot, but this one pretty much sums up why the GOP's stance that the bill will hep the average American family is such a crock of bull.
"The typical American household, two parents, two kids, 7 limited liability partnerships, a dozen individual real state LLC’s, several investment vehicles throwing off streams of passive income, will be doing quite well!," he wrote.
The typical American household, two parents, two kids, 7 limited liability partnerships, a dozen individual real state LLC’s, several investment vehicles throwing off streams of passive income, will be doing quite well!— Chris Hayes (@chrislhayes) December 19, 2017
Is that you? Or anyone you know? If so, you're probably sitting in a boardroom. Put your phone down!
Hayes has been tweeting about the tax bill and its effects on the population pretty consistently, and though his analysis is concise and on the nose, his outlook isn't particularly hopeful.
The first year of the Trump admin has been astoundingly good to people with a lot of wealth/capital. A veritable bonanza.— Chris Hayes (@chrislhayes) December 19, 2017
The political consequences of this tax bill will be that it engenders big commitments from GOP donor class, energizes activist opposition in '18, and doesn't have much effect w most voters one way or another. At least that's my guess.— Chris Hayes (@chrislhayes) December 19, 2017
What's most fascinating to me, is that if there was one strong signal sent in the GOP primary and the election it was the rejection of what we might call "Paul Ryanism". And yet here we are!— Chris Hayes (@chrislhayes) December 19, 2017
There's not much of a constitenuency for Paul Ryanism *in the base of the GOP* (outside it's donor class.) But there is no other real governing agenda.— Chris Hayes (@chrislhayes) December 19, 2017
It's weird that the authors and supporters of what is *primarily* a *huge* corporate tax cut don't want to sell the bill as a *huge* corporate tax cut.— Chris Hayes (@chrislhayes) December 20, 2017
It's disappointing that Hayes doesn't seem to think the egregious nature of this bill will necessarily shake people enough that they stop voting along party lines, but a lot of people have responded to his original tweet, which means some folks are riled up, at least:
Its pretty clear these guys dont represent the people they claim to represent.— Mista Charles (@iMistaCharles) December 19, 2017
the cherry on this crap sundae is the deduction for private aircraft.— pipedownsparky (@moronfreeDC) December 19, 2017
Hey @GOP :— Jerome Patrick Miron (@JeromePMiron) December 19, 2017
If I’m $20,000 in debt, and I take out a $1,000 cash advance on my credit card as a “Great Big Christmas Present” to myself.
That doesn’t make me any more rich. Quite the opposite, actually.
You DO understand that, right? 🤔
I don’t know about you guys but my non-corporate business is really raking it in. I just got a cool $24 from selling some muffin tins on eBay. I expect to get at least another 11 cents back on my return.— Michelle K (@mishaquita) December 19, 2017
We have a full time income and an LLC. We will see that tax savings. One problem we will also see a decline in itemized deductions and a likely raise in health care premiums. So for even us it’s at best a wash at worst a tax increase. We won’t see 4K more at work. Eyeroll— Dedpull_Diva (@Dedpull_Diva) December 19, 2017
Reminds me of the Looney Tunes where Daffy Duck sells Porky Pig insurance redeemable only if an accident occurs as the result of a stampede of wild elephants in your own home between 3:55 and 4:00 p.m. on the Fourth of July during a hailstorm, followed by one baby zebra.— Orange Leader🤦♂️ (@OrangeLeaderUSA) December 19, 2017
Though Hayes is right about the bill, I hope very much that he's wrong about the constituency that put these robbers in office. No one is right all the time:
Lapses in judgement happen and the uncertainty the bill creates is ultimately going to hurt the poorer families in the next decade.
We talk a lot about financial markets uncertainty, and business uncertainty. But families get hit by policy uncertainty too, especially poorer families and ones with more marginal attachment to government programs.— Annie Lowrey (@AnnieLowrey) December 20, 2017
And it doesn't look like the bill will really save the average family much, if any, money in the next short term.
Do you agree with his point?