What was it that Bible said again? It is easier for a camel to pass through the eye of a needle than for a Republican legislator to enter the kingdom of Heaven.
What was it that Bible said again? "It is easier for a camel to pass through the eye of a needle than for a Republican legislator to enter the kingdom of Heaven." Chip Somodevilla/Getty Images

Sponsored
Tickets available HERE! 88rising is coming to accesso ShoWare Center on Sat Oct 27th

In a press conference that resembled a well-dressed white power rally, the man who somehow became President patted himself and his fellow Republicans on the back for finally passing a hugely unpopular piece of shit legislation and screwing over the 99 percent of the American public that doesn't own private jets. Cheers, boys. You finally did it.

Trump's tax plan, if you need a reminder, will primarily benefit rich assholes and corporations by, for instance, cutting the corporate tax rate from the current 35 to just 21 percent. And, as John Cassidy points out in the New Yorker, the newly passed plan will reduce the tax rate on households that earn between $500,000 and a million dollars a year from 30.9 percent to 27.8 percent. For those who earn over a million dollars a year, the tax burden will be cut from 32.5 to 30.2 percent, and according to the non-partisan Tax Policy Center, those households in the top 0.1 percent of incomes will get to keep an extra $193,380. Per year.

As for those of us who don't own second or third homes in Palm Beach, the Joint Committee on Taxation estimates that households earning between $50,000 and $75,000 annually will see tax rates drop from 14.8 to 13.5 percent in 2019. However, while the corporate tax cuts are permanent, the individual tax cuts are not, so when they expire, tax rates for the middle class will go right back up to where they are now while corporations get to hang on to their adjusted rates.

These cuts will, by the way, increase the national debt by a trillion dollars, which Republicans plan to address by cutting—you guessed it—Medicare, Social Security, and food stamps. Even some non-evil rich people (yes, they do exist) think this tax plan is a terrible idea, like Seattle's own Nick Hanauer:


At the press conference Wednesday afternoon, the man-child in chief pointed out that the GOP tax plan includes a repeal of the individual mandate to purchase health insurance, a central part of the Affordable Care Act. While the idiot President said Wednesday that this means Obamacare has been repealed (it has not), nixing the mandate does do away with the penalty for not having the minimum level of coverage, and if people aren't forced to buy health insurance—as they are forced to buy, say, car insurance—they very well may not, which could lead to the collapse of the market. And, if the market survives, repealing the mandate will cause at least 13 million fewer Americans to be insured by 2027, according to the nonpartisan Congressional Budget Office.

More money for the rich, fewer resources for the poor, and the potential collapse of Obamacare? In Republican terms, that's what you call a Good Wednesday. Or, as Oregon Democratic Sen. Jeff Merkely said on the Senate floor: “This is the biggest bank heist, not just in American history, but in the history of the world."