Not since Ronald Reagan has there been such a sweeping range of tax reforms brought forward. Despite constant attacks in the media, from the Democrats, and even from Republicans, the long-awaited reform seems to be on the cusp of passing.
Late last night, the Senate passed the reforms by a vote of 51-49, not a single Democrat voted for it and only one Republican voted against: Corey Booker.
President Trump was very happy with the vote passing, he Tweeted:
“We are one step closer to delivering MASSIVE tax cuts for working families across America,” the president wrote. “Special thanks to @SenateMajLdr Mitch McConnell and Chairman @SenOrrinHatch for shepherding our bill through the Senate. Look forward to signing a final bill before Christmas!”
These reforms, if implemented, will actually help people deal with their incomes better. And most importantly, it will end the Obamacare mandate. But of course, there is a huge amount of pushback. Nancy Pelosi made a statement decrying the very nature of the reforms:
“The GOP tax scam is a product of haste, carelessness and cruelty,” Pelosi wrote. “It was written on Republicans’ trickle-down delusions, not analysis or facts. It was written first and foremost for the wealthiest one percent, not middle-class families trying to get ahead.”
How is it even possible that we have not had tax reform since Reagan? The way we earn our money has changed, the way we spend our money, and of course, the way the government spends our money is different. So why is it that there has been no major reform in how we are taxed?