Why Bob Corker Flipped To A 'Yes' On Tax Reform In One Simple Chart

Authored by Mike Shedlock via www.themaven.net/mishtalk,

Senator Bob Corker, the lone Republican voting against the tax bill suddenly changed his mind. Why?

On December 1 Senator Corker made this statement:

"But at the end of the day, I am not able to cast aside my fiscal concerns and vote for legislation that I believe, based on the information I currently have, could deepen the debt burden on future generations."

Today Corker Tweets:

Senator Corker denies allegations of the "Corker Kickback".

Corker initially told IBT that the new provision “sounds totally unnecessary and borderline ridiculous” but later admitted he doesn’t “really know what the provision does to be honest. I would need an accountant to explain it.” Last year, Corker made up to $7 million from real estate pass through companies he owns.

His story, however, hit a snag when Sen. John Cornyn (R-TX), the Senate Majority Whip, told ABC News that the provision that benefits real estate investors was added as part of an effort to “cobble together the votes we needed to get this bill passed.”

When asked if the provision was added specifically to secure Corker’s vote, Cornyn dodged the question.

Corker Kickback Tweets

 

 

My Position

My position has been clear from the beginning. I benefit personally from this bill thanks to pass-through provisions. But I do not support this bill.

Who Benefits? Me!

As I noted before, I benefit from this legislation, but not because of real estate. 100% of my income is pass-through.

Unlike Corker, I am not changing my opinion. I think this bill, which adds $1.5 trillion in debt while doing virtually nothing to spur investment or jobs, is grossly beneficial to the wealthy.

To voice your displeasure at unprecedented greed, please see Upset About the One-Sided Tax Bill? Here's What to Do About It!.