"Trump Probably Picked the Worst Time to Propose a Giant Tax Cut"

I'm going to add.............there just aren't enough billionaires to tax rape to make a difference anyway. The estate tax cap should not even kick in until over 20 million. It's a death tax, and it's un-American.

 

Now you're catching on!

 

They won't pay it anyway, all it is a jobs program for tax accountants. But, it provides the window dressing to get this corporate tax rate "cut" through the Senate. But, I'm tickled with all the howls and screams of pain from all these rich folks who swore they wanted to pay more taxes during the Bush taxcuts, and now are they ever whining up a storm over the new bubble tax and the cap on deductions!

That's what you get for your lying virtue signalling!

 

other people's money.....................................................

 

OK, lets do some simple math......

INCOME is taxed from 10-39%....so how do you get more revenue from that on sales tax due to more “spending” ? What’s the federal sales tax rate again ? Oh yeah....ZERO. And if you give someone a dollar back on income tax, and they spend that dollar, the return on that dollar is ONLY the tax rate of that state. So you get an even small percent of that dollar back.

So again I ask.....how does a tax break on incomes generate more revenue........

 

what I have been saying for years, it's why at first I was a Trump supporter...I thought he woudl address this, but his idea of America first wasn't the same as ours sadly

 

no, I feel anyone earning over 250k a year should pay at least the same tax per dollar I do... they should not pay less because most of their income is not labor income

I am big on a flat tax that taxes everyone the same percent for every dollar earned over the standard living deduction.... that means no cap on the ss tax either.. same taxes for everyone.. rich or poor, regardless of where your income comes from

 

Give the man some time to work!

 

he is not even making it a priority, tax cuts for the rich and reversing any and everything with Obama's name on it seems to be his priorities
someone (maybe fox) should should tell him Obama was for foreign outsourcing and foreign imports, then he would get right on it

 

Give him time, then we will compare their respective records. Won't that be fun!

 

we have no choice, he has 3 more years to get it together, but I will continue to criticize him when seen fit same as every President before him

 

Not only did you move the goal posts from income tax to sales tax, you don't understand the concept that consumer spending drives the economy, creating more jobs, more businesses, more business profits, and ultimately more federal income tax revenue. It's simple economics.

But ask Forbes. What do they know?
https://www.forbes.com/sites/mikepa...uts-increase-government-revenue/#7453849c4bf2

 

And that led you to this

When has that worked and why would you believe that a one time send everyone $5000 is going to stimulate business to expand?

First that's not going to save Social Security and I gave you a better way to do it. Why do you not want to save Social Security unless you believe you can stick it to the highest earners?

But not a guarantee if the government runs it. It would be setup so that as you approached retirement age it would phase out of the market and into an treasuries and then into an annuity. There is no gamble in long term stock market investment over a broad range particularly index funds.

As long as you cap contributions to the retirement system. Again would you invest in a 401k all your life if the government was going to cap what you could retire on it and keep the rest? How about your company pension if the government could say NOPE you don't get all of it.

Sure there is, you don't make enough to reach the cap. Those dollars above the cap the rich don't add to their benefit and they already get a far worse return than those who contribute little to anything at all.

I find it odd this is what you observe. If the answer to the question will those tax rates increase economic activity and increase revenues to the treasury is yes then what is weird about them? I find it odd that you are OK with half the country paying little to nothing in taxes while the top 20% pay almost 90% of them and you want to shift that even more.

What exactly is your goal to just stick it to the top earners?

 

well it drives the economy if the products are made in America and it creates jobs in America
much of it right now is sent overseas via foreign outsourcing and foreign import sadly

foreign outsourcing and foreign import being used to excess without evening the playing field has a domino effect

as people have less jobs, they have less money, means they spend less, means corps outsource more and people buy less American goods and around and around it goes down the drain

 

And partly to blame for that? Not only cheaper labor, but corporate income taxes. IMO, the corporate tax cut should only go to businesses who make their products here (with the exception of raw materials we don't have available here).

 

Why didn't the HUGE increase in food stamps help the economy 2008-2015? You do realize that the more people we have collecting food stamps means more people not in the middle class, not earning good wages and salaries and dependent of the earners of others. How does that help the economy? What if we get everyone back to work earning good money and not collecting food stamps do you think that would help the economy more? If not why not?

 

it did help the economy, and the local economy at that....

not to mention it also helped all those that lost their jobs due to the Bush economy

though it mostly helped Walmart today, it used to help many local grocery stores that hire many people...

can't spend foot stamps online

sure we wish all those poor people could have good middle class jobs vs food stamps... but to get that to happen we have to address foreign outsourcing and foreign imports - throwing tax cuts at the rich doesn't help with that history has shown UNLESS there is strings tied to those tax cuts

 

Federal revenue > 0? Good time for a tax cut.

 

why are the tax cuts for the rich permanent and the tax cuts for the middle class temporary?

at least make them both temporary

 

Make them both permanent, not both temporary.

Tax increases are progressive. Therefore, for tax cuts not to be fake they must be regressive. I support cutting taxes based proportionately on each dollar the state collects. Those who pay more dollars will get a bigger cut.

 

One problem you just pointed out has been ignored forever. With built-in inflation, bracket creep without adjustments is a built in tax increase in a progressive tax system. Good eye.

 

Doesn't tend to me much bracket creep on a 0% bracket

 

Student?

 

Nah croupier, but I meant if the system had a 0% tax rate.

 

Been hiding your chip tips, mate?