Seth Hanlon Profile picture
Personal account. #LGM
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Nov 30, 2017 9 tweets 4 min read

Whistleblower: The Treasury analysis showing that tax cuts pay for themselves that Mnuchin has been promising (and even suggested already exists!) DOES NOT EXIST AT ALL. Career economists shut out of the process! 1/ Link to bombshell @arappeport story:…

Nov 30, 2017 16 tweets 6 min read
My colleague @ggrhendricks and I looked at how much @SenRonJohnson and @RealDonaldTrump could benefit from the last-minute sweetener that was added to the #GOPTaxBill today. 1/ Johnson, joined by Senator Steve Daines, has been pushing make the huge loophole that the bill creates for people like Johnson and Trump even bigger. 2/
Nov 28, 2017 22 tweets 5 min read
I really don’t know where @SenBobCorker is going with this idea of a “trigger,” but it’s critical that he is asked some specific questions this week to hold him to his promises. 1/ Those questions include:

(A) how is he applying his preferred “current policy” baseline to the Senate tax bill, given its many sunsetting provisions?

(B) what revenue levels need to be hit to avoid the trigger? 2/
Nov 18, 2017 9 tweets 4 min read
WOW. We knew the Senate Republican tax bill was bad but these graphs from the Institute for Taxation and Economic Policy (@iteptweets) are still shocking.

The bill RAISES taxes on low- and middle-income households while cutting them on high-income households.

1/ The top 1% gets a tax cut of $9,000 in 2027. At the same time that the poorest income groups get a tax hike of about $200. 2/
Nov 17, 2017 12 tweets 3 min read
I stand by my tweets 100% on this. The WSJ here quotes the industry and congressional sponsors. The issue is complicated, and it is a real issue. 1/ The provision that was put into the tax bill on Tuesday night settles a longrunning dispute between the jet management companies and the IRS, providing very valuable certainty for them. 2/
Nov 17, 2017 28 tweets 6 min read
One of the more insidious ways that corporations game our political system is by funding intellectually shoddy work that supports their policy goals. This is a thread about an organization here in Washington called the “Tax Foundation.” 1/ The Tax Foundation has gained a lot of credence in the debates on tax policy. Its experts are often quoted in the press. They are smart people. 2/
Nov 15, 2017 8 tweets 2 min read
It's 1am, and the Senate tax bill markup begins in 9 hours, and I'm just stumbling across this "personhood" language they've added to the bill. 1/ An utterly gratuitous attack on reproductive rights, buried in a so-called "tax reform" bill, slipped in at midnight. 2/
Nov 6, 2017 5 tweets 1 min read
This is a comically trivial change to the carried interest loophole. 1/… First, even if they repeal the CI loophole entirely, their bill creates an even bigger loophole for the same people--25% passthru rate. 2/
Nov 5, 2017 59 tweets 10 min read
The Republican tax bill looks like it was written by Donald Trump’s accountants and tax lawyers, and I’m not even joking. 1/ It would be hard to design a tax plan more friendly to billionaire real estate magnates like the Trumps and Kushners of the world. 2/
Oct 22, 2017 40 tweets 9 min read
Since @USATODAY's editors didn't fact-check @realDonaldTrump's oped on his tax plan, I will do so. 1/… Even the title is off. Reagan said it was "Morning in America" in 1984. His tax reform was in 1986. Come on, people. 2/
Sep 27, 2017 6 tweets 2 min read
Couple quick observations tax plan on things that were not entirely expected.

1. They're not actually doubling the standard deduction. Doubling it would be $12,700 for singles and $25,200 for couples. Also, they're ending the add'l bump-up in the standard for blind/aged.
Sep 7, 2017 15 tweets 2 min read
A pretty nutty thing is happening in the House Ways&Means Cmte this pm. The Republicans are voting to keep Trump's tax returns hidden. 1/ They're bringing up this resolution by @BillPascrell, which compels Trump’s returns, just to vote it down. 2/…