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Baby Boomer on FB says GOP tax plan will hurt the middle class
| cyan garrison legend | 11/19/17 |
| Adventurous blood rage | 11/19/17 |
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Date: November 19th, 2017 8:31 AM Author: cyan garrison legend The retirees and pre-retirees are the ones who will be absolutely in trouble if the tax plan DOES pass because much of their savings are tied up in home equity, and home values will plummet if this plan becomes law. In high COL areas like CA and NY, home values may drop by 25%. This will create catastrophic consequences to State economies unable to meet basic obligations, which in turn will impact the national economy. There are already articles written describing how economists and corporate heads both worry that such an extreme, and not necessary cut, will precipitate a second great recession and housing market collapse.
President Trump and Republicans should have cut tax rates by 7% across the board and not touched any of the deductions. Instead, they will undertake the hard work of bringing down America (for Russia?) from within, and do so over a Thanksgiving week.
This decision will do more to set back the country than President Bush's decision to invade Iraq, and we will similarly look back and ask, "who had the courage to vote against it?" God save the US and us. |
Date: November 19th, 2017 8:32 AM Author: Adventurous blood rage Tax plan isn’t happening. Let’s all stop squawking (http://www.autoadmit.com/thread.php?thread_id=3802360&forum_id=2#34722472) |