Wednesday, November 8, 2017

Taxman

Listen while you read:  Joe Bonamassa!

Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman

Should five percent appear too small
Be thankful I don't take it all
'Cause I'm the taxman, yeah, I'm the taxman

If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold, I'll tax the heat
If you take a walk, I'll tax your feet

Don't ask me what I want it for
If you don't want to pay some more
'Cause I'm the taxman, yeah, I'm the taxman

Now my advice for those who die
Declare the pennies on your eyes
'Cause I'm the taxman, yeah, I'm the taxman
And you're working for no one but me

~  George Harrison

This Beatles tune appeared on 1966's Revolver, but the version linked above is the amazing Joe Bonamassa, an American blues rock guitarist, singer and songwriter. The video was filmed last October at The Cavern Club in Liverpool, right across the street from the now-demolished Cavern where The Beatles got their start. Bonamassa's rendition of the song is absofuckinglutely wonderful. Turn it up loud!

As I'm writing this post before yesterday's election results are in, I needed to turn my attention elsewhere, and of the many breaking news stories at our disposal, the new "Tax Cuts and Jobs Act" (HR1) plan is getting some attention, although probably not enough. While both parties claim to be supporting the dying middle class, from what I can see, this GOP tax proposal does nothing to help us out. Unless, of course, you happen to be rich already.

And here's what really got me: in video of hearings on the proposal, Congresswoman Suzan DelBene (D-WA) asked Tom Barthold (Chief of Staff of the Joint Committee on Taxation) a lot of questions pertaining to how the plan would benefit both corporations and regular lower and middle class wage-earners. In the plan, regular homeowners are limited to claiming deductions on up to $10,000 of real estate taxes (which, in my home state, is on the low end of the scale). However, corporations can claim their entire property tax amount as a deduction. While HR1 would eliminate deductions for moving expenses for families who have to relocate for their jobs, corporations can still claim those deductions, even if they move their businesses outside of the United States. Are you pissed off yet?

Well, here's the real kicker: under HR1, teachers can no longer deduct the cost of supplies for their classrooms (pens, pencils, paper, books, etc.), but corporations can deduct all of their business supply expenses! We're talking about pencils and paper, people! Many schools stopped supplying these necessities years ago. Most of the teachers I know are spending hundreds of dollars every year to keep their students equipped with the things they need to succeed. And the cost comes out of their own pockets. But corporations get the write-off.

And it's not just teachers getting screwed. Firefighters, law enforcement workers, basically all middle-income wage-earners.

And you're working for no one but me . . . 



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