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Will tweet a "what it really means" tax bill thread in a bit distilling a # of convos & thorough analyses.
Follow if interested.1/
Follow if interested.1/
TAX SUMMARY: I'm going to cover who wins, who loses, impact on debt, some likely next steps.
Skip ahead to those points if u like.2/
Skip ahead to those points if u like.2/
A tax bill is a statement of priorities. Read our priorities here: ppl w assets. Not growth, not middle class, not fiscal prudence.3/
WE OVERSPEND W HUGE TAX CUTS: Tax bill adds $1.5 trillion to the debt-- the same debt that Trump & Congress complained about under Obama. 4/
PRIORITIES: To put $1.5 trillion, @CenterOnBudget laid out what the country could do with that money 👇besides a tax cut for wealthy.5/ 
What does this tell me? If you wanted to deficit spend to help the economy, helping people who inherit $ keep it isn't close to this.👇6/
ECONOMIC GROWTH?: A core claim that this tax bill will drive economic growth.
Core drivers of our economy don't seem to think so...7/
Core drivers of our economy don't seem to think so...7/
As a Senator said to me: if bill passes, no one with a home with a mortgage over $500k will ever sell it. Unless they have tons of cash.8/
Mortgages, real estate, moving, hiring ppl w disabilities, adopting, major health care expenses would slow. Bad 4 people & economy. 9/
WINNERS?: OK. Let's start w who shld be obvious winner-- the family highlighted by @SpeakerRyan.
Turns our no.10/
Turns our no.10/
Family of 4 making $60,000/yr.?
The tax plan is not for you. Outcome 4 the family @SpeakerRyan highlighted.11/
medium.com/@kamin_83016/h…
The tax plan is not for you. Outcome 4 the family @SpeakerRyan highlighted.11/
medium.com/@kamin_83016/h…
C3/ About that charge that Dems drive up the debt . . . ?👇12/
HEALTH:A # of groups get hurt starting with those with serious illnesses & seniors with medical expenses (most).13/
Divorcees, ppl w disabilities, anyone w college debt, families who want to adopt, non-profits.
But one special interest will do well...
14/
But one special interest will do well...
14/
The key special interest group of the moment these days. Unborn children.
15/
15/
PRIORITIES: Using tax code 2 legislate the womb. Can't pass CHIP 4 kids that have been born-- what House passed cannot/should not pass.16/
So who will benefit? People w assets, people w large incomes, corp execs, hedge funds👇. SAME ppl so will benefit multiple times.17/
IT WILL GET WORSE: Passing this bill through the Senate will mean a couple of deficit hawks could block it without major spending cuts.18/
So on top of all the harmful consequences 4 families & seniors, these cuts are going right at kids (just the ones that have been born).20/
The bill fails basic lessons of the last 9 months: public rejects partisan backroom bills wout public hearings.21/
In the end the major problems with earlier iterations of the tax bill are are still problems.22/end
