#4

TheBreez

🌦 Thors-day Snors-day. ☀
Who’s Ready to See Justice League tomorrow?

Quote of the Day

“Attention passengers” — MTA announced last Friday that it will now be using gender-neutral terms, rather than “ladies and gentlemen.” Commuters can also be pleased to read that fares and tolls won’t be raised next year, but 2019.

— Getting Down to Brass Tax -————————————

The Story

Taxes are the big topic nationally and locally this time of year. As for nationally, maybe not big, per se.

Business as Usual…

House Republicans in their November 2017, Tax Cuts and Jobs Act,  budget proposal, plan to do what Republicans always call for: tax cuts. Corporate taxes are on that list to be cut, permanently.  Most businesses in the U.S. are not corporations required to pay the existing corporate tax however,  as qualify as being “pass-through” entities. The proposed bill also calls for the seven tax brackets currently in the code to become only three, thus cutting taxes, for individuals and corporations.

Til Death (Tax) Do Us Part….

While death and taxes seem to be the two most unavoidable facts of life, they are also pretty indivisible for the very rich… that is until Republicans in Congress get their way. With the tax proposal, they also hope to cut the estate tax  out of the tax code entirely! The tax, also critically called the death tax was first introduced in 1916, and is just the top of this chopping block’s iceberg.

Who Obama-cares About Taxes?

Senate Republicans also take aim at the Affordable Care Act, Obamacare. Pushing to repeal a key provision of the ACA., that requires individuals to have insurance or face a penalty, the GOP is actually winning some votes from the opposition. The penalty, which started small, grew up to $695 per person or 2.5 percent of income by 2016, an unpopular mandate. The decision against this has become popular, not just because the unpopularity of the penalty, but also that dumping it could save $338 billion.

Abortion and Taxes?

While one branch of the government accepted a case regarding abortion earlier this week, House Republicans managed to take on abortion as well. In the Consolidation of education savings rule, they added this clause: “An unborn child means a child in utero. A child in utero means a member of the species homo sapiens, at any stage of development, who is carried in the womb.”

Wait for the Other Shoe to Drop…

The Senate  Republicans’ bill has been supported by the House, and can be passed by a “cloture” or simple majority vote. That majority is quickly falling apart. What was only one (albeit, key) Republican Senator, turned quickly into the defection of another, likely signaling the doom for the bill’s passage.

theBreez   

While we’re all looking at the Republicans, we should also be mindful of the Democrats. Is there enough leaning against the liberal minded left for them to vote down the Tax Cuts and Jobs Act? Only time will tell, but theBreez is expecting some surprises from that side of the aisle as well.

— Caught in TheBreez ——————————————————————

An American Horror Story…

After Tuesday night’s finale episode of American Horror Story’s 7th Season, Cult, Charles Manson (the real one, not the character played by Evan Peters) had his heart broken. Wednesday, the infamous 83-year-old mass murderer, was brought to (ironically) Mercy Heart Hospital in Bakersfield, Calif. (yes, the same Bakersfield from The War of the Worlds) from his prison cell at Corcoran State Prison where he was serving multiple life sentences. His condition is grave, and the serial killer isn’t expected to survive much longer.

And in Local News….

Many churches and community organizations are planning Thanksgiving Dinners. The idea is to celebrate the season of giving by paying it forward to the less fortunate or those that just want to feel a sense of togetherness with their congregation or community.  Near Port Jervis: Milford, P.A. Church of the Good Shepherd is offering a Free Thanksgiving Dinner, Nov. 23 at noon, at their location on the corner of Fifth and Catharine Streets. Delivery will be available, as well as some transportation, just call 570-296-8123.

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(short read today… we just studied the life out of tax reporting)

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