This former tax attorney is about to go on a #twitterstorm about this #BillionairesFirst tax program & how it is contrary to our values 1/12
#BillionairesFirst tax plan eliminates the adoption deduction. There are 125K adoptions a year that cost about 20K a year. 2/12
#Sec1308 eliminates the deduction of medical expenses. Until #MedicareForAll we need this deduction. 19% of Americans used this in 2015 3/12
#Sec5201 allows churches to endorse political candidates from the pulpit, & not lose their tax status. #SeperationofChurchandState 4/12
#Sec1302 eliminates the ability to deduct mortgage interest on a home over $500,000.00. This will stifle the housing market in #CA. 5/12
#Sec1602 eliminates the #EstateTax which only affected 80 family farms in 2015 less than .002% of Americans face this, but Trump does 6/12
#Sec2001 eliminates the Alternative Minimum Tax #AMT. On the one tax return we have from @POTUS he paid $37 million in AMT taxes. 7/12
#Sec3402 eliminates the employer-provided-child-care credit. Many businesses offer on-site #childcare as a perk. This guts the program 8/12
#Sec1309 eliminates the deduction for #alimony payments, but does not get rid of the income tax for the receiving spouse. This is bad 9/12
#Sec1204 eliminates the interest deduction for #Studentloans. This is an assault on the #middleclass, pure and simple #ThanksTrump 10/12
#Sec3502 & #SEC3503 reduce the tax credit from 30% to some unnamed "applicable percentage" which will harm #cleanenergy investment. 11/12
There is a lot of bad in #BillionairesFirst or the #CCCAct. I did not have time to pull all of the business taxes apart, but I will 12/12

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Garrick A. McFadden, Esq.

Garrick A. McFadden, Esq. Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @electgarrick

Dec 15, 2017
If you want to play along, here is the actual Full Text of Tax Plan aka #GOPTaxScam I am going to start reading and commenting follow if you want thread 1/?…
If you acquire a new home, you can only deduct $750,000 in interest, compared to $1,000,000.00 before. This could impact many homes in California, NY, and in a lot of urban areas that vote Democrat. #TrumpTax Plan 2/?
The #StudentLoan interest deduction will remain. Because they did not repeal all of the #EstateTax they just raised the exemption from 5 million to 10 million. #GOPTaxPlan 3/?
Read 15 tweets
Dec 2, 2017
I feel like this is an episode of #RickandMorty, but we have to do a sequel to first #TwitterStorm now with 280 characters. I will be going through this #GOPRiot where they loot middle-America. So the thread begins here. 1/?
Not that the #GOP cares about #DACA or #undocumented families. But they use #SEC11022 to not allow undocumented parents to receive a tax credit for their children. These is cruel unjust and unAmerican. 2/?
#Sec11023 With the language to repeal the #JohnsonAmendment contained in the house amendment they have allowed an increase of cash contributions to #Charity as a means to funnel the money to #GOP candidates in a tax free fashion. This is not what Jesus would do or want. 3/\?
Read 17 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!