It Turns Out Steve Daines’ ‘Win’ During Tax Reform is a Huge Tax Avoidance Scam

Senator Steve Daines touted a reduction in taxes on “pass through” companies as his big coup for Main Street Montana.  It was his wily and shrewd negoatiating that got this provision into the tax bill.  It turns out Daines has provided a new loophole for rich people with good tax lawyers to drive their twin-33 trailer carrying Rolls Royce’s through.

The headline from this Politico story says it all:

‘Holy crap’: Experts find tax plan riddled with glitches

It’s a 500 page bill scribbled on the back of a napkin.  And when you vote on it without public input, hearings, etc. it makes sense that it is riddled with problems.

Senator Daines worked very hard to ensure his pet project got included in the bill.  He went as far as to allegedly withhold his support until Mitch McConnell reduced taxes on pass through businesses.

Uh-oh Steve.  According to experts:

Some of the provisions could be easily gamed, tax lawyers say. Their plans to cut taxes on “pass-through” businesses in particular could open broad avenues for tax avoidance.

Now maybe this will help the everyman.  Maybe this loophole will allow teachers to deduct school supplies.  Maybe it will allow for every man, woman and child who don’t have a lawywer on retainer to pay less taxes.  Sometimes mistakes yield good results!

From Politico:

Their plans to cut taxes on pass-through businesses would open a whole new palette of complicated tax-avoidance techniques allowing the well-to-do to slash their taxes, lawyers say.

People will be tempted to recharacterize their income in order to take advantage of a 23 percent deduction for pass-throughs offered by the Senate. For someone making $500,000, that would save them $30,000.

Oh, so this will only help rich people.  Makes sense.

Even when our Senator works hard he screws up.  And wouldn’t you know?  It benefits the rich.  Color me shocked.  I wonder if Senator Daines makes more than $500,00 and can afford a tax lawyer to help him use his newly minted loophole…

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28 Comments on "It Turns Out Steve Daines’ ‘Win’ During Tax Reform is a Huge Tax Avoidance Scam"

  1. Really…can anybody honestly say they were in the slightest surprised by this…if so, you are and probably always will be a rube.

  2. In formulating a tax policy that will affect so much of the nation’s economic health, it is always better to be right than fast. When the Republican Faction (I am not calling them a “Party” anymore) marched its members lockstep into this ill-conceived and hasty legislation, they packed it full of surprises–some we will see later and some we will see right away.

    Senator Daines strikes me as neither a leader nor a very independent member of the Republican Faction. He is a junior backbencher whose vote is tightly in Mitch McConnell’s hand. To the degree that he is independent of Mitch, he is self-serving. When the members of his faction start eating one another politically–and that day will come–Daines will be on Mitch’s menu.

  3. Daines may be the biggest unethical crook and hypocrite in the entire Senate.

  4. Not an original idea with me but a good one deserving to be passed on: To avoid all the tax code rewrite errors and snafus and intentional time bombs, simply have all the low and moderate income folks write a $2000 check into a fund to be redistributed to the multimillionaires, billionaires and large corporations. The $2k roughly represents the combined tax increase and the value of lost programs to low and moderate income folks. It also demonstrates clearly who the winners and losers are.

  5. This break for pass throughs is also going to blow a hole in the state’s budget, almost as big as the one that we just had a special session to parch up. So, more cuts, because unlike the Republicans in Congress, we cannot plan on borrowing more than a trillion dollars to cover the shortfall.

  6. Birds of a feather flock together.

  7. Once this bill gets through the conference committee, and is signed into law, you will see that what the Democrats are shrieking is nothing but lies, jealousy, and politics.

    President Trump actually keeps his campaign promises.

    The GOP is making America GREAT again, making America SAFE again, making America strong again, making America WIN again, and respected in the world again!

    These will be the days we look back on with pride when our great-grandchildren ask us about how America was reformed!

  8. “These will be the days we look back on with shame when our great-grandchildren ask us about how come the GOP threw a big party of the 1% and why do they get to pay for it?”

    Fixed it for you ya mouthbreathing idiot.

  9. I wish we could throw a stick in the spoke of this Tax Reform Bill the republicans steamrolled!

  10. All your Dem Congressmen voted against it. Again, losers. Get over it. Maybe you are wrong and/or someone is feeding you a line. You should be getting use to it by now. Trump’s travel ban is now in full effect. We still have Obamacare and Sanctuary Cities. But, not for long.

  11. There are also reports that the conference committee is looking at allowing home owners who lost there homes to floods or tornadoes to claim the deduction. However, for those who lost their homes to fires, too bad. They will not be allowed to claim the loss.

    How does Daines vote if this goes through??

  12. Here’s an idea, move Trump, and all his supporters to Alabama and build wall around it.

  13. An imbalance between rich and poor is the oldest and most fatal ailments of all republics. — Plutarch, Greek historian, c.100 A.D.

    “The taxation system has tilted toward the rich and away from the middle class in the past ten years. It is dramatic … and I think it should be addressed … We [Buffett and his late wife] agreed with Andrew Carnegie, who said that huge fortunes that flow in large part from society should in large part be returned to society … There’s class warfare, all right. But it’s my class, the rich class, that’s making war, and we’re winning. But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it. The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.” — Warren Buffett, the world’s fourth richest man

    • Jesus fucking Christ. My dad pays more in taxes than I make. I hope he gets a bigger cut than I do! BTW– it’s not the Hardee’s employee or the Warren Buffetts that are taking it in the ass.

    • Gee RT, just who was running things in 8 out of the last 10 years?

      LA Times sums it up. “The nation’s middle class, long a pillar of the U.S. economy and foundation of the American dream, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study.

      The Pew Research Center report released Wednesday put in sharp relief the nation’s increasing income divide, which is certain to be a central issue in the 2016 presidential race. It also highlights how various economic and demographic forces have eroded long-held ideals about maintaining a strong, majority middle class.

      Many analysts and policymakers regard the shift as worrisome for economic and social stability. Middle-income households have been the bedrock of consumer spending, and many liberals in particular view the declining middle as part of a troubling trend of skewed income gains among the nation’s richest families.

      Median-income voters, particularly non-college-educated men, are also at the core of billionaire Donald Trump’s surprising surge in the Republican presidential campaign. His supporters’ sense that their once-secure middle-class standing is in danger of slipping appears to be fueling much of the anger against the government and immigrant groups.”-LAT

      • The original Art Fenske (yep there seem to be two of us posting here) | December 12, 2017 1:21 PM at 1:21 PM | Reply

        Hey Swede, who WAS running things? Who had control of the Congress?

        • The original Art Fenske (yep there seem to be two of us posting here) | December 12, 2017 1:25 PM at 1:25 PM | Reply

          “Patrick Egan, a politics professor at New York University, says the Pew findings and the Gallup surveys suggest that the public may be more open to policies of redistribution.

          “Americans are always kind of reluctant to embrace open class warfare,” Egan said. But “if more Americans are under the idea of placing themselves at the bottom, you’ll see politicians follow.”

          Although the median incomes of upper, lower and middle tiers have all lost ground since 2000, primarily because of the Great Recession in late 2007 to mid-2009, upper-income households saw the smallest decline through 2014, the Pew study found.

          Seen over a longer period, from 1971 to 2014, the median income of all upper-income households increased 47% to $174,625. The median income for the middle tier rose 34% to $73,392, and for the lower income group, it was up 28% to $24,074. The median marks the halfway point.

          Pew’s findings add to strong evidence that the middle class has been thinned partly by a decline in manufacturing due to competition from imports as well as a broader polarization of jobs that has favored the most educated and technically skilled workers.”

          Also from your article. Love ya.

          • Let’s review the record Art.

            The Obama record– More pain, More poverty, More suffering.
            ** 1 in 2 working Americans make less than $30,000 a year.
            ** More Children Live in Poverty Today Than During 2008 Recession
            ** Obamanomics in Action: Worst Labor Force Participation Rate Since 1977
            ** Obamanomics in Action… More Young Adults Live at Home Than in 2009
            ** Obamanomics in Action: One in Five US Families Not Working
            ** Obamanomics in Action: Real Hourly Income Down 10% Under Obama
            ** Obamanomics in Action: 11.4 Million Americans Have Left Workforce Since Obama Took Office
            ** OBAMANOMICS IN ACTION: Typical US Household Worth One-Third Less Than Under Bush
            ** Obamanomics in Action… One-Fifth of Middle Class Falls into Poverty

            Love ya back.

            • The original Art Fenske (yep there seem to be two of us posting here) | December 13, 2017 7:25 AM at 7:25 AM | Reply

              “Obamanomics In Action – Republican National Committee
              gop.com/wp-content/uploads/2012/08/obamanomics-in-action.pdf
              Aug 9, 2012 – Paid for by the Republican National Committee. 310 First Street SE – Washington, D.C. 20003 – (202) 863-8500 – http://www.gop.com. Not authorized by any candidate or candidate’s committee. Obamanomics In Action.”

              New flash for ya dipshit. Obama isn’t in office.

              • If you’d taken the time to follow this three from the original comment (Rational Thought) it was in response to this:

                “The taxation system has tilted toward the rich and away from the middle class in the past ten years. It is dramatic … and I think it should be addressed “.

                Maybe you should call RT a dipshit.

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