Correction: I reported Rand Paul changed his mind on the Tax bill. I believe misinterpreted his Tweet.
I thought that was a change of mind on the tax bill. Rather, it appears to be a meaningless Tweet about the upcoming spending bill, not tax reform.
If Paul was genuinely concerned about the deficit, he would indeed vote against the tax bill.
Lies to Corker
The Senate Tax bill got out of committee on an 11-10 vote because Republicans promised Tennessee Senator Bob Corker they would find a way the bill would not add to the deficit.
It was a lie. After letting the bill get out of committee, Corker was the only Republican to vote no on the Senate bill.
Susan Collins Wavering
Reuters reports Senator Collins Undecided on Final Tax Bill Vote.
According to Reuters, The moderate Republican from Maine has laid out conditions for her support of a final “conference committee” version of the tax proposal. Collins wants assurances that federal Medicare payments will not be cut and that Republicans will support two separate health care bills aimed at reducing premium costs.
Corker, Collins Fed Pack of Lies
Previously, I reported Republicans promised Collins a bipartisan healthcare bill. I called such assurances a joke.
If Paul and Corker vote no, one more no vote would kill the legislation.
By the way, I am all in favor of tax “reform”. However, the Bill Adds $1 Trillion to Deficit which is why Corker voted “no” and Paul changed his mind.
The Senate bill is anything but reform.
It does not kill the Alternative Minimum Tax, it has eight brackets vs four in the House version, and beyond 2027 it does not lower individual taxes at all.
The New York Times reported Tax Bill Offers Last-Minute Breaks for Developers, Banks and Oil Industry .
Spend Your $100 Wisely
I calculated the average annual gain for someone making $100,000 as $100. For details, please see Tax Bill Analysis: Spend Your Extra $100 Wisely.
This bill deserves to die.
Question of the day: Republicans lied to Corker. Why wouldn’t they lie to Collins?
Mike “Mish” Shedlock
If it weren’t for protecting us from being overrun by Third World immigrants there would be no reason left to vote for Republicans at all. And within a month they will sell us all out on that one too.
I added a correction. It appears I had it wrong.
Note: based on the first sentence of that tweet, he SHOULD vote against the bill, if he believes it, which I think Rand Paul sincerely does.
I HOPE Mish is correct, but I think he misinterpreted Paul’s tweet.
All politicians are liars though.
All liars ARE NOT politicians.
To clarify a bit, Rand Paul is talking about the upcoming spending bill and NOT the tax reform bill.
I would like credit for pointing out this glaring mistake on your site, Mish. This is a bad one, seeing as how so many people to come to your site for financial news and advice.
Mish, you’re losing it. He’s not talking about the tax reform bill. Rand Paul is talking about the bill to keep the government operation. Doh.
shouldn’t the question of every day be: why would politicians not lie?