WSJ’s Rubin: More and More People over Time Will Go from Cuts to Tax Increases Under the Bill

>> Dana So how would ░░░░░░░░ GOP Tax plan benefit ░░░░░░░░ House Republicans say you ░░░░░░░░ find out for yourself ░░░░░░░░ an online calculate are ░░░░░░░░ to work next week ░░░░░░░░ hired a private firm ░░░░░░░░ develop it You put ░░░░░░░░ your tax or ferns ░░░░░░░░ see new payment to ░░░░░░░░ of that say that ░░░░░░░░ how most Americans will ░░░░░░░░ money Preserved by decades ░░░░░░░░ of the political costs ░░░░░░░░ challenges If you want ░░░░░░░░ lower tax rate turning ░░░░░░░░ cows into cash cows ░░░░░░░░ a lot a lot ░░░░░░░░ pay for that Dana ░░░░░░░░ next guest says the ░░░░░░░░ Republican tax bill cuts ░░░░░░░░ popular deductions to deliver ░░░░░░░░ rates to workers but ░░░░░░░░ tax break has its ░░░░░░░░ and powerful lobbying groups ░░░░░░░░ it which shouldn t ░░░░░░░░ to winners and losers ░░░░░░░░ what makes it to ░░░░░░░░ president s desk Join ░░░░░░░░ now is Wall Street ░░░░░░░░ writer Richard Rubin who ░░░░░░░░ that wonderful video You ░░░░░░░░ check it on the ░░░░░░░░ Street Journal accounts The ░░░░░░░░ calculator idea is that ░░░░░░░░ dangerous proposition to put ░░░░░░░░ there What if you ░░░░░░░░ a certain number of ░░░░░░░░ who put their numbers ░░░░░░░░ and find out they ░░░░░░░░ going to end up ░░░░░░░░ more They certainly might ░░░░░░░░ are going to be ░░░░░░░░ of people people in ░░░░░░░░ tax states people with ░░░░░░░░ metal expenses who would ░░░░░░░░ more under this bill ░░░░░░░░ other thing is the ░░░░░░░░ this bill works if ░░░░░░░░ look at 2018 that ░░░░░░░░ t tell you the ░░░░░░░░ story So over time ░░░░░░░░ and more people will ░░░░░░░░ from getting tax cuts ░░░░░░░░ tax increases under the ░░░░░░░░ they got the thing ░░░░░░░░ Dana What do you ░░░░░░░░ are the biggest vulnerabilities ░░░░░░░░ now for Republicans to ░░░░░░░░ this just to the ░░░░░░░░ Let s forget the ░░░░░░░░ for a minute but ░░░░░░░░ house on the preconceived ░░░░░░░░ A few things One ░░░░░░░░ state and local tax ░░░░░░░░ You ve got the ░░░░░░░░ of tax Republicans from ░░░░░░░░ York and New Jersey ░░░░░░░░ are not satisfied You ░░░░░░░░ a bit more other ░░░░░░░░ reduction to get their ░░░░░░░░ You ve got this ░░░░░░░░ of pass through businesses ░░░░░░░░ businesses LLC pluralists and ░░░░░░░░ There are rules from ░░░░░░░░ the full 25 rate ░░░░░░░░ ve got some members ░░░░░░░░ are pushing to make ░░░░░░░░ rules a little more ░░░░░░░░ The thing is when ░░░░░░░░ do that that costs ░░░░░░░░ Republicans have this 1 ░░░░░░░░ trillion box that they ░░░░░░░░ for themselves Every time ░░░░░░░░ you try and put ░░░░░░░░ more in that box ░░░░░░░░ have to take something ░░░░░░░░ out Dana Let me ░░░░░░░░ you about Democrats and ░░░░░░░░ they are going about ░░░░░░░░ against Democrats on this ░░░░░░░░ Ron wyden senator from ░░░░░░░░ he tweeted it s ░░░░░░░░ double standard Corporations get ░░░░░░░░ breaks while wage earning ░░░░░░░░ get the rug pulled ░░░░░░░░ from under them Corporations ░░░░░░░░ still get to deduct ░░░░░░░░ state and local taxes ░░░░░░░░ corporations will still be ░░░░░░░░ to write off their ░░░░░░░░ payments Is that what ░░░░░░░░ think they are basically ░░░░░░░░ to try to do ░░░░░░░░ s certainly part of ░░░░░░░░ The Republican argument is ░░░░░░░░ look permanent corporate tax ░░░░░░░░ are worth going to ░░░░░░░░ canonic growth If you ░░░░░░░░ those temporary you are ░░░░░░░░ to lose the whole ░░░░░░░░ of doing this bill ░░░░░░░░ are a hard thing ░░░░░░░░ give up on some ░░░░░░░░ that Democrats will make ░░░░░░░░ argument They will also ░░░░░░░░ at the estate tax ░░░░░░░░ benefits the very small ░░░░░░░░ of the country They ░░░░░░░░ going to be looking ░░░░░░░░ what we call the ░░░░░░░░ staples who wins loses ░░░░░░░░ we talked about before ░░░░░░░░ will see the battle ░░░░░░░░ the sample families where ░░░░░░░░ will talk about in ░░░░░░░░ a two parent household ░░░░░░░░ 60 000 seeing a ░░░░░░░░ tax cut Democrats will ░░░░░░░░ families that have significant ░░░░░░░░ medical expenses where they ░░░░░░░░ get a tax increase ░░░░░░░░ they are losing mass ░░░░░░░░ You will see all ░░░░░░░░ these examples out there ░░░░░░░░ s going to be ░░░░░░░░ challenging for taxpayers and ░░░░░░░░ to figure out everything ░░░░░░░░ s going on Dana ░░░░░░░░ next question to you ░░░░░░░░ chairman Brady was doing ░░░░░░░░ interview with political earlier ░░░░░░░░ talking about how the ░░░░░░░░ has said to him ░░░░░░░░ many occasions and other ░░░░░░░░ saying they want to ░░░░░░░░ the repeal of the ░░░░░░░░ mandate from from a ░░░░░░░░ this tax bill Maybe ░░░░░░░░ s okay in the ░░░░░░░░ but what happens over ░░░░░░░░ the Senate side There ░░░░░░░░ some senators like senator ░░░░░░░░ who want to do ░░░░░░░░ but it does create ░░░░░░░░ problems Here is the ░░░░░░░░ thing about that The ░░░░░░░░ mandate repeal raises money ░░░░░░░░ fewer people would have ░░░░░░░░ thus the government would ░░░░░░░░ less money on subsidies ░░░░░░░░ help people purchase health ░░░░░░░░ But Republicans also say ░░░░░░░░ the individual mandate wouldn ░░░░░░░░ change the number of ░░░░░░░░ There is some fundamental ░░░░░░░░ where they were lying ░░░░░░░░ money from that they ░░░░░░░░ count on the money ░░░░░░░░ that even though it ░░░░░░░░ coming from a place ░░░░░░░░ doesn t really exist ░░░░░░░░ is that math piece ░░░░░░░░ it to they will ░░░░░░░░ to figure out in ░░░░░░░░ to the policy because ░░░░░░░░ are important health care ░░░░░░░░ we all know is ░░░░░░░░ into taxes which is ░░░░░░░░ messy Dana You ve ░░░░░░░░ some great information creativity ░░░░░░░░ would love you to ░░░░░░░░ you back on a ░░░░░░░░ called the daily briefing ░░░░░░░░ you so much.
>> Sure.