The best and worst of the GOP tax debate
The GOP tax bill has been a disaster for Republicans.
They have lost millions of jobs, their political prospects are in shambles, and the bill is going to blow up in their faces.
But, with a few tweaks, they could finally make it work, as President Donald Trump is working to make good on his campaign promise to make the tax code simpler and more palatable to everyone.
The good news for the GOP is that the tax bill is a win for many Americans, who will now get to keep the tax cuts they have enjoyed for the past decade.
The bad news is that there is not much that will change for most Americans.
Republicans, in particular, will be left with a number of big questions about the new tax code.
Will this make the economy more efficient, more competitive, or just less competitive?
How will the country’s $20 trillion debt be managed?
And will the tax burden be paid by the middle class or the rich?
What does the bill do to encourage investment in American businesses and American workers?
Will we see a massive increase in consumer spending?
And what happens to the corporate tax rate, which was the main sticking point in the bill?
There are a few key points worth noting about the bill, and they are all important for the country to understand.
Tax cut or not, the bill does not do the job for everyone.
For the first time in our history, the United States will not have a flat tax rate for all taxpayers.
Instead, the rate will vary widely depending on a variety of factors, from the type of tax bracket you are in, the size of your household, your household income, and your income in the previous year.
The biggest winners are the middle and lower-income Americans.
The Republican plan will bring back the income tax rate that was cut in the original bill and add a new one to it that is a lot lower than the current top tax rate of 35%.
This new tax bracket will be called the “standard deduction,” and it will be $10,400 for a single person and $12,400 per dependent.
The standard deduction is one of the key components of the new bill.
This new income tax bracket is going on a one-time basis.
This means that individuals and families will have to pay the full rate each year for decades, not just for the first five years of their tax returns.
This is because the rate is adjusted every year.
For example, if your income for 2017 is $45,000, your tax bill would be $60,000 over the first decade.
This will make it difficult for individuals to pay down their debts in a tax-free fashion.
For this reason, the Senate plan includes a $1,000 payroll deduction for every $10 of income that you make, which will allow most Americans to pay off their debt in the near term without having to worry about being caught up in a massive tax increase.
If the tax cut goes into effect, it is likely to hurt the wealthy the most.
The Senate bill contains a number other provisions that will benefit wealthy Americans and corporations alike.
The plan lowers the standard deduction to $12 and eliminates the estate tax, which is designed to benefit the very wealthy.
It also increases the standard exemption from $5 million to $10 million.
However, the top tax bracket for individuals is going up from 35% to 39.6%, which will mean that many Americans will pay more than they otherwise would.
The tax bill also reduces the child tax credit, which helps lower- and middle-income families pay for college and other education costs.
The House plan would not change the tax system at all.
The legislation does not make any changes to the individual income tax system.
There are a couple of exceptions.
One is that it would allow people to itemize their tax return, which means that people will be able to claim the same deductions that they do now.
The other is that people who itemize will be allowed to deduct the difference between their standard deduction and the standard tax rate.
These two provisions are intended to help lower- or middle-class families pay down debt and reduce their taxes.
The bill does offer some relief for people making more than $1 million a year.
The proposal would allow individuals to claim a $2,000 credit for the cost of the tax credit and a $6,000 tax credit for other items.
This relief would help people making between $50,000 and $200,000 a year pay more in taxes than they would have been otherwise.
Some Republican senators have made the case that this tax reform is designed more for middle- and upper-income people.
According to a summary of the bill from the nonpartisan Tax Policy Center, the plan “would allow some lower- income individuals and households to deduct up to $3,000 in additional tax liabilities from their taxable income, even if the taxable