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by rezonant
315 days ago
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So that would be this Finance committee right? > The Senate Finance Committee roster for the 118th Congress includes 14 Democrats and 13 Republicans, with three new GOP members recently appointed. > https://tax.thomsonreuters.com/news/senate-finance-finalizes... Hardly an unbeatable majority for Democrats on this committee. Especially since research and development is one of the main reasons taxation on higher income classes is effective: The idea is you'll be taxed if you want to take it as profit, but if you advance the state of the art, innovate, or create new technology then you can deduct that. The high tax rates of the US post WWII up to Reagan worked so well because of this combination: It was incentivized for businesses to reinvest their profits into R&D, since they'd hopefully be able to scale their profits if the R&D was successful. I think it's not as clear cut as "the Democrats" or "the Republicans" here-- especially since there would probably be a requirement that the shortfall be made up in some other way in order to balance the effects on revenue. |
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For the 10th time in this thread, the repealing bill DID NOT need to be revenue neutral since it had Republican support, all it needed was 60 votes in the Senate. Reconciliation only applies if a yearly budget bill can get at least 51 votes but not 60.
Sorry, I feel like I am taking crazy pills. I stated the same in another comment and was downvoted. I know HN is liberal biased but it's becoming unusable if you as much dare to criticize democrats.