Senate GOP’s Deathcare Bill Gives Rich People Back Pay

JM Ashby
Written by JM Ashby

The Senate GOP's Deathcare bill will limit (not improve or expand) access to health care because the whole thing is really just a vehicle for cutting taxes for the rich.

To demonstrate that fact, the Senate bill includes a provision that would retroactively grant tax breaks for investment income.

From the Wall Street Journal:

Like in the House bill, that tax would be repealed as of Jan. 1, 2017, dropping the top capital-gains tax rate to 20% from 23.8%. Under that measure, people who sold assets earlier this year, even before they knew if the tax cut would happen, would benefit. Retroactive tax cuts like this don’t create an incentive and can yield windfall gains for people who already made decisions.

Someone who recorded a $1 million capital gain on a stock sale in January would get a $38,000 tax cut as a result of the bill.

Republicans say these taxes have hurt the economy, but it clearly hasn't if they want to reimburse rich people for investments they've already made!

A three percent tax did not stop anyone from investing. We're still in the middle of an historic stretch of continuous job growth that begin after Obamacare was passed. The stock market is soaring. The economy is not in perfect shape, but it's pretty good right now, historically speaking.

That may be all about to end if Republicans pass their bill. It will wreck the economy just give the rich a tax cut they'll barely notice on their balance sheets.

  • muselet

    For the Right, calling The Die Quicker, You Useless Scum! Act of 2017 a vehicle for massive tax cuts for the wealthy is an indefensible calumny against the thirteen sociopaths who produced this abomination; or, if you prefer, “a librul lie ’bout brave and patriotic men who have toiled to free Murca from the dead hand of socialistical Obamacare.”

    Every so often I’m this close *holds thumb and index finger 1 millimeter apart* from saying to hell with it, let the rich have it all as long as the stupid bastards who vote R suffer, but then my conscience kicks in.


    • Tony Lavely

      My conscience has been quieter and quieter lately, sorry to say.

      • muselet

        My conscience isn’t any quieter than it ever was, it’s just taking longer to reassert itself.


  • David Greenberg

    Is there any point at which core republican voters will realize that their own screwing is more important than their racism and bigotry. Or will they go to their graves never seeing the light?

    • ninjaf

      It appears that the answer is the latter.

      • I think this ability to vote against one’s own self-interest in order to get back at other people will be the doom of our country and ultimately our species. Like children if they can’t play they’d rather upset the whole game board and make it so no one can play. There has got to be a psychological term for this madness.

        • 1933john

          It’s called “conservatism” – i.e., selfish (I-Me-My Shit).
          And it’s an uncureable congenital mental defect.
          You would not want one in a foxhole next to you!

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    • JMAshby

      They will die hating half the country.

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