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Fight the GOP Tax Bill, November 7 Update

Fight the GOP tax bill, as you have been doing.

We had asked you to call about it a few weeks back, and we had made it clear that the bill was Trojan horse Trumpcare, hiding a mess of cuts to Medicare, Medicaid, and ACA that they couldn’t get through with previous bills.

Now that the tax bill has been unveiled–the tarp came off on Thursday November 2–we need to call our MoCs and make our opposition known.

This bill is lousy. It blows a $1.5 trillion hole in the deficit, which sets the Republicans up to force unwanted Medicare, Medicaid, and ACA cuts down the line. It lightens the tax burden of the wealthy, and it does so at the expense of the rest of us. The only people who want to see that happen are a fraction of the one percent.

As mentioned in previous posts, the GOP bill would flat-out eliminate the estate tax, a tax that hits the exceptionally wealthy. The tax is also philosophically important. We’re Americans. We don’t want an aristocracy, we want a meritocracy. The estate tax nips aristocracy in the bud. We need to keep it.

The bill would also eliminate tax deductions for medical expenses, state and local taxes, interest on student loans, a tax break that helps teachers buy supplies for their classrooms, and a tax credit that encourages employers to hire military veterans. It would also lower the mortgage deduction threshold from $1 million to $500,000. Tellingly, it keeps the carried interest provision, which allows managers of hedge funds and other financial funds and investment partnerships to be taxed at a lower rate.

In short: It whacks you and pretty much everyone you know while fattening the bank accounts of people who are already insanely wealthy already, and it encourages the creation of more people like Ivanka, Eric, and Donald Trump, Jr., who were born on third base and genuinely think they hit a triple.

We at OTYCD are going to treat the tax bill like we treated the fight against Trumpcare–we’re going to devote new posts to it every weekday until the danger has passed, and putting out two new posts when we have urgent, time-sensitive matters to attend to, such as the November 7 elections (if you’re one of the one in three Americans who has a state or local election going on that day, please educate yourself on the issues and show up and vote).

We also encourage you to ask friends and family in other states to call their MoCs to oppose the tax bill.

There is good news. Members of Congress are already coming out against the bill. John McCain, who helped kill Trumpcare because his colleagues were not following normal order, repeated the need for the tax bill to follow normal order as well. See this Bloomberg piece:

https://www.bloomberg.com/news/articles/2017-09-26/mccain-calls-for-bipartisan-tax-effort-just-like-on-health-care

A majority of the general public seems to recognize that the GOP tax cuts favor the wealthy:

http://abcnews.go.com/Politics/60-percent-americans-trump-tax-plan-benefit-wealthy/story?id=50891221

As of November 3, the bill is in the House of Representatives. Topher Spiro pointed out that 20 Republican house members have voiced opposition to the cuts; three more ‘no’ votes should kill the bill. He’s been circulating a list of Republican reps who might be most receptive to their constituents:

Jeff Denham, California

Darrell Issa, California

Steve Knight, California

Ed Royce, California

Mimi Walters, California

Mike Coffman, Colorado

Carlos Curbelo, Florida

Brian Mast, Florida

Ileana Ros-Lehtinen, Florida

Rodney Frelinghuysen, New Jersey

David Joyce, Ohio

Ryan Costello, Pennsylvania

Charlie Dent, Pennsylvania

Pat Meehan, Pennsylvania

Barbara Comstock, Virginia

 

Also–Is your rep on the House Ways & Means committee? Then it’s extra-important for you to call, and super-extra-important for you to call if your rep is Republican. See the link below to check if your rep is shown:

https://waysandmeans.house.gov/subcommittee/full-committee/

 

Sample calling script: Dear (House Rep/Senator Lastname), I am (Firstname Lastname, from town, state). I am calling to voice my opposition to the GOP tax bill, which was unveiled on November 2. This bill is irresponsible and it benefits the exceptionally wealthy at the expense of every other class that pays income tax. It eliminates the estate tax while taking away tax deductions for medical expenses, student loan interest, state and local taxes, and deductions that teachers use when buying classroom supplies and that encourage employers to hire veterans. It also blows a $1.5 trillion dollar hole in the deficit. I am asking you to vote no on this bill. Thank you for listening.”

 

If you didn’t start following these four during the Trumpcare fight, do so, and add the fifth, a tax expert from the Obama administration:

@benwikler

@celeste_p

@aslavitt

@topherspiro

@sethhanlon

These last two primarily cover health care, but they’re covering the tax bill because it affects health care, too.

These folks, particularly the first two, will have news updates faster than OTYCD, which does one new post per day.

 

Other resources follow.

 

Check out the Trump Tax Tool Kit:

https://trumptaxtoolkit.org

 

Here’s a bundle of links to various stories about the GOP tax bill and assorted aspects of the bill:

https://www.washingtonpost.com/news/wonk/wp/2017/11/02/winners-and-losers-in-the-gop-tax-plan/?utm_term=.d004e6b965c6

https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2017/11/03/the-finance-202-wall-street-escapes-gop-tax-cutters-unscathed-so-far/59fb725730fb0468e7654095/?utm_term=.7a124f4781ab

https://www.washingtonpost.com/news/education/wp/2017/11/02/teachers-spend-nearly-1000-a-year-on-supplies-under-the-gop-tax-bill-they-will-no-longer-get-a-tax-deduction/?utm_term=.dc599785707e

https://www.washingtonpost.com/business/economy/the-gops-bill-is-a-sensible-framework–but-still-a-deficit-exploding-tax-cut-for-the-rich-and-corporations/2017/11/02/28b3688c-bffe-11e7-959c-fe2b598d8c00_story.html?utm_term=.62b5bdd7bb78

https://www.axios.com/house-gop-keeps-tax-loophole-for-hedge-fund-managers-2505477999.html

https://www.politico.com/story/2017/11/02/who-pays-more-trump-gop-tax-plan-244472

http://money.cnn.com/2017/11/02/pf/college/house-tax-bill-student-loan-interest-deduction/index.html

https://www.washingtonpost.com/business/house-gops-evolving-tax-bill-leaves-retirement-plan-intact/2017/11/01/755e7906-bf77-11e7-9294-705f80164f6e_story.html?utm_term=.acb66b4fc0c4

http://nymag.com/daily/intelligencer/2017/11/the-house-republican-tax-cut-is-a-failure-on-its-own-terms.html

http://nymag.com/daily/intelligencer/2017/11/the-republican-tax-plan-is-political-suicide.html